Photronics, Inc. (PLAB) Balance Sheet
PLAB balance sheet, FY2025
October 31, 2025 · U.S. dollars$1.80B assets = $207.2M liabilities + $1.60B equity
Both columns are drawn to the same scale: what PLAB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PLAB financial health
Current ratio5.37
Comfortable · current assets cover current liabilities 5.37×
Debt / equity0.01
Low leverage · $0.01 of debt for each $1 of equity
Equity / assets65.0%
Equity-funded · of assets funded by shareholders
Cash / debt9,870.2%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
PLAB balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $988.3MFY2016 | $1.80BFY2025 | +6.9%/yr | |
| Total liabilities | $162.8MFY2016 | $207.2MFY2025 | +2.7%/yr | |
| Shareholders’ equity | $710.4MFY2016 | $1.17BFY2025 | +5.7%/yr | |
| Cash & short-term investments | $314.1MFY2016 | $588.2MFY2025 | +7.2%/yr | |
| Total debt | $67.6MFY2016 | $6.0MFY2025 | −23.6%/yr | |
| Net cash (debt) | $246.5MFY2016 | $582.2MFY2025 | +$335.7M | |
| Working capital | $360.3MFY2016 | $724.2MFY2025 | +$363.9M | |
| Book value per share | $9.30FY2016 | $19.59FY2025 | +8.6%/yr | |
| Current ratio | 5.43FY2016 | 5.37FY2025 | −0.06 | |
| Debt / equity | 0.10FY2016 | 0.01FY2025 | −0.09 | |
| Shares outstanding | 76.4MFY2016 | 59.9MFY2025 | −2.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PLAB assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
PLAB liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
PLAB debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PLAB balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $588.2M | $640.7M | $512.2M | $358.5M | $276.7M | $278.7M | $206.5M | $329.3M | $308.0M | $314.1M |
| Cash & equivalents | $492.3M | $598.5M | $499.3M | $319.7M | $276.7M | $278.7M | $206.5M | $329.3M | $308.0M | $314.1M |
| Short-term investments | $95.9M | $42.2M | $12.9M | $38.8M | $0 | — | — | $0 | $0 | $0 |
| Receivables | $222.6M | $215.0M | $208.2M | $216.6M | $208.5M | $157.3M | $142.1M | $120.5M | $105.3M | $92.6M |
| Inventory | $61.8M | $56.5M | $50.0M | $50.8M | $55.2M | $57.3M | $48.2M | $29.2M | $23.7M | $22.1M |
| Other current assets | $17.5M | $18.8M | $15.1M | $18.8M | $10.2M | $6.9M | $42.0M | $23.8M | $12.1M | $12.8M |
| Total current assets | $890.1M | $931.1M | $785.5M | $644.7M | $550.6M | $500.1M | $438.8M | $502.7M | $449.1M | $441.6M |
| Property, plant & equipment (net) | $854.4M | $745.3M | $715.4M | $643.9M | $696.6M | $631.5M | $621.2M | $571.8M | $535.2M | $506.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $774,000 | $6.9M | $15.7M | $24.7M | $34.2M | $39.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $60.0M | $35.7M | $25.3M | $27.3M | $46.3M | $49.7M | $43.0M | $10.8M | $2.2M | $539,000 |
| Total assets | $1.80B | $1.71B | $1.53B | $1.32B | $1.29B | $1.19B | $1.12B | $1.11B | $1.02B | $988.3M |
| Liabilities | ||||||||||
| Accounts payable | $84.2M | $78.7M | $84.0M | $79.6M | $81.5M | $58.5M | $70.4M | $55.5M | $42.5M | $48.9M |
| Short-term debt | $2.0M | $37.9M | $15.2M | $11.4M | $24.5M | $15.9M | $10.9M | $57.5M | $4.6M | $5.4M |
| Deferred revenue | $9.5M | $12.4M | $10.0M | $18.9M | $14.7M | $8.0M | $11.5M | $7.8M | $5.7M | $26.9M |
| Total current liabilities | $165.9M | $183.8M | $185.2M | $193.8M | $176.1M | $142.9M | $152.0M | $191.1M | $81.8M | $81.3M |
| Long-term debt | $0 | $0 | $18.0M | $32.3M | $89.4M | $55.0M | $41.9M | $0 | $57.3M | $62.1M |
| Lease obligations | $6.0M | $23.0M | $26.5M | $32.4M | $40.6M | $2.2M | — | $0 | $4.6M | — |
| Other long-term liabilities | $41.4M | $47.5M | $47.4M | $27.6M | $28.0M | $28.0M | $13.7M | $14.4M | $16.4M | $19.3M |
| Total liabilities | $207.2M | $231.3M | $250.6M | $253.7M | $293.6M | $225.9M | $207.6M | $205.4M | $155.5M | $162.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $576,000 | $619,000 | $613,000 | $608,000 | $600,000 | $631,000 | $656,000 | $556.3M | $541.8M | $527.1M |
| Retained earnings (deficit) | $772.2M | $691.8M | $561.1M | $435.6M | $317.8M | $279.0M | $253.9M | $231.4M | $189.4M | $176.3M |
| Treasury stock | — | — | — | — | — | — | — | −$23.1M | $0 | $0 |
| Accumulated other comprehensive income | −$86.1M | −$86.3M | −$88.7M | −$98.5M | $20.6M | $18.0M | −$9.0M | −$5.0M | $6.9M | −$7.7M |
| Minority interest | $423.7M | $359.9M | $300.6M | $230.6M | $176.9M | $157.3M | $141.2M | $144.9M | $120.7M | $115.1M |
| Total shareholders' equity | $1.17B | $1.12B | $975.0M | $831.5M | $823.7M | $805.0M | $769.9M | $759.7M | $744.6M | $710.4M |
| Key figures | ||||||||||
| Total debt | $6.0M | $23.0M | $26.5M | $45.6M | $117.2M | $70.8M | $52.8M | $57.5M | $59.9M | $67.6M |
| Net cash (debt) | $582.2M | $617.7M | $485.7M | $312.9M | $159.5M | $207.8M | $153.8M | $271.8M | $248.1M | $246.5M |
| Working capital | $724.2M | $747.3M | $600.2M | $450.9M | $374.5M | $357.2M | $286.8M | $311.7M | $367.3M | $360.3M |
| Tangible book value | $1.17B | $1.12B | $975.0M | $831.5M | $822.9M | $798.1M | $754.2M | $734.9M | $710.3M | $670.7M |
| Book value per share | $19.59 | $17.97 | $15.79 | $13.59 | $13.29 | $12.30 | $11.13 | $10.15 | $10.75 | $9.30 |
| Shares outstanding | 59.9M | 62.4M | 61.8M | 61.2M | 62.0M | 65.5M | 69.2M | 74.8M | 69.3M | 76.4M |
| Current ratio | 5.37 | 5.07 | 4.24 | 3.33 | 3.13 | 3.50 | 2.89 | 2.63 | 5.49 | 5.43 |
| Quick ratio | 4.89 | 4.66 | 3.89 | 2.97 | 2.75 | 3.05 | 2.29 | 2.35 | 5.05 | 5.00 |
| Debt / equity | 0.01 | 0.02 | 0.03 | 0.05 | 0.14 | 0.09 | 0.07 | 0.08 | 0.08 | 0.10 |
| Equity / assets | 65.0% | 65.5% | 63.9% | 63.2% | 63.6% | 67.7% | 68.8% | 68.4% | 72.9% | 71.9% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $672.8M | $637.7M | $636.9M | $588.2M | $575.8M | $558.4M | $642.2M | $640.7M | $606.4M | $559.9M | $521.5M | $512.2M |
| Cash & equivalents | $549.5M | $511.5M | $544.1M | $492.3M | $479.5M | $530.7M | $642.2M | $598.5M | $537.3M | $493.9M | $508.5M | $499.3M |
| Short-term investments | $123.3M | $126.2M | $92.7M | $95.9M | $96.3M | $27.7M | $0 | $42.2M | $69.0M | $66.0M | $13.0M | $12.9M |
| Receivables | $187.7M | $189.0M | $199.5M | $222.6M | $190.9M | $196.0M | $188.4M | $215.0M | $199.9M | $209.8M | $216.0M | $208.2M |
| Inventory | $64.7M | $67.8M | $62.7M | $61.8M | $63.5M | $61.2M | $57.6M | $56.5M | $55.5M | $54.3M | $50.7M | $50.0M |
| Other current assets | $49.6M | $49.5M | $47.2M | $17.5M | $42.1M | $40.2M | $32.6M | $18.8M | $30.9M | $20.2M | $19.5M | $15.1M |
| Total current assets | $974.9M | $943.9M | $946.2M | $890.1M | $872.2M | $855.8M | $920.8M | $931.1M | $892.6M | $844.1M | $807.7M | $785.5M |
| Property, plant & equipment (net) | $955.0M | $927.9M | $894.6M | $854.4M | $839.0M | $807.6M | $749.8M | $745.3M | $722.6M | $729.5M | $742.7M | $709.2M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $60.8M | $59.0M | $60.5M | $60.0M | $41.5M | $39.7M | $34.0M | $35.7M | $29.8M | $29.8M | $32.5M | $31.5M |
| Total assets | $1.99B | $1.93B | $1.90B | $1.80B | $1.75B | $1.70B | $1.70B | $1.71B | $1.65B | $1.60B | $1.58B | $1.53B |
| Liabilities | ||||||||||||
| Accounts payable | $193.4M | $108.0M | $111.7M | $84.2M | $100.4M | $89.5M | $85.9M | $78.7M | $89.0M | $94.7M | $86.9M | $84.0M |
| Short-term debt | $3.9M | $11,000 | $11,000 | $2.0M | $11,000 | $11,000 | $2.6M | $37.9M | $20.1M | $19.3M | $20.8M | $15.2M |
| Deferred revenue | — | $13.4M | $22.4M | $9.5M | $11.3M | — | $10.9M | $12.4M | $13.7M | $14.6M | $9.0M | $10.0M |
| Total current liabilities | $197.3M | $187.0M | $206.6M | $165.9M | $174.9M | $166.8M | $162.6M | $183.8M | $191.1M | $195.6M | $185.3M | $185.2M |
| Long-term debt | $0 | $0 | $10,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.0M |
| Lease obligations | $3.9M | $3.9M | — | $6.0M | $27,000 | $30,000 | $2.7M | $23.0M | $20.1M | $21.8M | $23.4M | $26.5M |
| Other long-term liabilities | $49.8M | $50.4M | $44.8M | $41.4M | $39.8M | $39.5M | $47.8M | $47.5M | $40.5M | $39.9M | $50.5M | $47.4M |
| Total liabilities | $247.0M | $237.4M | $251.5M | $207.2M | $214.8M | $206.3M | $210.5M | $231.3M | $231.7M | $235.4M | $235.8M | $250.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $582,000 | $582,000 | $581,000 | $576,000 | $576,000 | $587,000 | $623,000 | $619,000 | $618,000 | $618,000 | $617,000 | $613,000 |
| Retained earnings (deficit) | $874.7M | $845.8M | $814.3M | $772.2M | $710.4M | $698.4M | $731.7M | $691.8M | $657.9M | $623.5M | $587.3M | $561.1M |
| Accumulated other comprehensive income | −$91.2M | −$97.9M | −$92.3M | −$86.1M | −$68.5M | −$87.3M | −$120.3M | −$86.3M | −$100.5M | −$95.9M | −$67.9M | −$88.7M |
| Minority interest | $463.0M | $452.2M | $438.5M | $423.7M | $412.4M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.28B | $1.24B | $1.21B | $1.17B | $1.13B | $1.10B | $1.13B | $1.12B | $1.07B | $1.03B | $1.02B | $975.0M |
| Key figures | ||||||||||||
| Total debt | $3.9M | $3.9M | $21,000 | $6.0M | $27,000 | $30,000 | $2.7M | $23.0M | $20.1M | $24.2M | $26.1M | $24.6M |
| Net cash (debt) | $668.9M | $633.8M | $636.9M | $582.2M | $575.8M | $558.4M | $639.5M | $617.7M | $586.2M | $535.6M | $495.4M | $487.6M |
| Working capital | $777.6M | $757.0M | $739.6M | $724.2M | $697.3M | $689.0M | $758.2M | $747.3M | $701.5M | $648.6M | $622.4M | $600.2M |
| Tangible book value | $1.28B | $1.24B | $1.21B | $1.17B | $1.13B | $1.10B | $1.13B | $1.12B | $1.07B | $1.03B | $1.02B | $975.0M |
| Book value per share | $21.81 | $21.19 | $20.75 | $20.24 | $18.58 | $18.06 | $18.00 | $17.97 | $17.11 | $16.58 | $16.42 | $15.71 |
| Shares outstanding | 58.7M | 58.6M | 58.4M | 58.0M | 60.6M | 61.0M | 62.7M | 62.4M | 62.4M | 62.4M | 62.3M | 62.1M |
| Current ratio | 4.94 | 5.05 | 4.58 | 5.37 | 4.99 | 5.13 | 5.66 | 5.07 | 4.67 | 4.32 | 4.36 | 4.24 |
| Quick ratio | 4.36 | 4.42 | 4.05 | 4.89 | 4.38 | 4.52 | 5.11 | 4.66 | 4.22 | 3.94 | 3.98 | 3.89 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 |
| Equity / assets | 64.3% | 64.3% | 63.7% | 65.0% | 64.2% | 64.6% | 66.2% | 65.5% | 64.9% | 64.5% | 64.6% | 63.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 17, 2025); data from EODHD.
PLAB financial position
At the end of fiscal 2025 (October 31, 2025), Photronics had total assets of $1.8 billion (up 5.4% from a year earlier), total liabilities of $207.2 million and shareholders' equity of $1.2 billion. It held $588.2 million in cash and short-term investments against $6.0 million of debt, a net cash position of $582.2 million. Its current ratio was 5.37. In the latest quarter (ended July 31, 2026) total assets were $2.0 billion and equity $1.3 billion.
Related: PLAB income statement, PLAB cash flow statement, PLAB key metrics. See the PLAB stock overview for the latest quote and news.
PLAB balance sheet FAQ
What are Photronics's total assets?
Photronics reported total assets of $1.8 billion at the end of fiscal 2025 (October 31, 2025), compared with $1.7 billion a year earlier.
How much debt does Photronics have?
Photronics had $6.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Photronics have?
Photronics held $588.2 million in cash and short-term investments at the end of fiscal 2025; with $6.0 million of debt that is net cash of $582.2 million.
What is Photronics's book value?
Photronics's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2025, or $19.59 per share.
What is Photronics's current ratio?
Photronics had current assets of $890.1 million and current liabilities of $165.9 million, a current ratio of 5.37 (it can cover its short-term obligations).