Photronics, Inc. (PLAB) AI Stock Analysis

Photronics, Inc. specializes in the manufacturing and distribution of photomask products and related services across global markets, including the United States, Taiwan, China, Korea, and Europe. Photomasks are high-precision photographic plates used to transfer intricate circuit patterns onto semiconductor wafers, flat panel display substrates, and various optical and electrical components. The company serves semiconductor manufacturers, flat panel display producers, designers, and foundries. Founded in 1969 and based in Brookfield, Connecticut, Photronics employs 1,908 people and reaches customers through dedicated sales personnel and customer service representatives.

Photronics grew revenue from $663.8M in FY2021 to a peak of $892.1M in FY2023, before contracting 2.8% to $866.9M in FY2024 and 2.0% to $849.3M in FY2025. Between FY2020 and FY2025, revenue delivered a 5-year CAGR of 6.9%. Gross margin was 35.3% in FY2025, compared to 37.7% in FY2023, while operating margin finished at 24.5%. Net income rose to $136.4M in FY2025, translating to an EPS of $2.03. Over the trailing twelve months, revenue was $866.8M with an operating margin of 21.1% and EPS of $2.81. In the latest quarter ended July 31, 2026, quarterly revenue grew 2.7% year-over-year while quarterly earnings expanded 25.6%.

As of July 31, 2026, Photronics held $672.8M in cash and short-term investments against $3.9M in total debt, resulting in a net cash position of $668.9M. Liquidity is supported by a current ratio of 4.94 and a debt-to-equity ratio of 0.00 against $1.28B in shareholders' equity. In FY2025, the company generated $247.8M in operating cash flow and $59.7M in free cash flow. Photronics used cash for $188.1M in capital expenditures and $97.4M in share buybacks, helping lower its share count by 3.6% over 5 years.

At a closing price of $27.52 on October 16, 2026, Photronics had a market capitalization of $1.62B and an enterprise value of $1.13B. The stock trades at a trailing P/E of 9.8x and a forward P/E of 13.3x, compared to the median of its US-listed Technology peers of 28.1x and 18.8x, respectively. Its EV to EBITDA stands at 3.3x versus the peer median of 16.6x. Over the past year, the stock's 17.7% return outpaced the S&P 500 (SPY) return of 16.8%, but its year-to-date return is -14.0% and it trades 22.9% below its 200-day average.

Photronics has unanimous support among covering analysts, with 3 Strong Buy ratings and no Buy, Hold, Sell, or Strong Sell recommendations. The mean price target is $41.33, representing 50.2% upside from the last close of $27.52. For the fiscal year ending October 31, 2026, consensus estimates project revenue of $868.0M and EPS of $2.01, representing 0.0% EPS growth. Photronics has beaten EPS expectations in 3 of the last 4 quarters, and its next earnings release is scheduled for December 9, 2026.

This page is an AI-written research summary of Photronics, Inc. (PLAB). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: PLAB income statement, PLAB balance sheet, PLAB key metrics, PLAB analyst forecast, PLAB chart. See the PLAB stock overview for the latest quote and news.