PLAB
Photronics, Inc.
PLAB's fundamentals are mixed, but it looks cheap: trading at 9.8x earnings, below its usual 13x. Analysts expect earnings growth.
PLAB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
PLAB's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
PLAB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 9.9x | $27.88 | — |
| Cheap | 10x | $28.49 | +2.2% |
| Fair | 13x | $37.09 | +33% |
| Forward | 13x | $27.88 | — |
| Expensive | 22x | $62.33 | +124% |
Historical ranges are pointers, not guarantees.
PLAB's PE is in its cheap range at 9.8x. On analysts' estimates for next year's earnings, today's price would be 13x, in its fair range.
PLAB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect PLAB's earnings to grow and its profitability to improve, with its revenue holding steady.
PLAB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.09 | -26% |
| Q3 2026 | $2.83 | +61% |
| Q2 2026 | $2.73 | +42% |
| Q1 2026 | $2.34 | -0.4% |
| Q4 2025 | $2.28 | +9.1% |
| Q3 2025 | $1.76 | -22% |
| Q2 2025 | $1.92 | -11% |
| Q1 2025 | $2.35 | +5.9% |
| Q4 2024 | $2.09 | +3% |
PLAB earned $2.83 per share over the past year, up 61% from the year before.
PLAB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $216M | +2.7% |
| Q2 2026 | $209.9M | -0.5% |
| Q1 2026 | $225.1M | +6.1% |
| Q4 2025 | $215.8M | -3.1% |
| Q3 2025 | $210.4M | -0.3% |
| Q2 2025 | $211M | -2.8% |
| Q1 2025 | $212.1M | -1.9% |
| Q4 2024 | $222.6M | -2.1% |
PLAB's revenue grew through 2022 and has held roughly level since: $216M last quarter, up 2.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | -1.8 points |
| Q2 2026 | 20% | -6.3 points |
| Q1 2026 | 24% | -0.2 points |
| Q4 2025 | 24% | -0.9 points |
| Q3 2025 | 23% | -1.8 points |
| Q2 2025 | 26% | +0.6 points |
| Q1 2025 | 25% | -2 points |
| Q4 2024 | 25% | -3.4 points |
PLAB's operating margin was 21% last quarter, down 1.8 points from the same quarter a year ago.
PLAB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $39.4M | +56% |
| Q2 2026 | $1.2M | +$30.3M |
| Q1 2026 | $49.6M | +15% |
| Q4 2025 | $20.3M | -19% |
| Q3 2025 | $25.2M | -50% |
| Q2 2025 | -$29.1M | -152% |
| Q1 2025 | $43.3M | +$45.1M |
| Q4 2024 | $25.2M | -54% |
PLAB still generates free cash flow, though less than at its 2022 peak: $110M over the past year.
PLAB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -27K shares |
| 1 year | +1.1% | +650K shares |
| 3 years | -5.3% | -3.3M shares |
| 5 years | -4.5% | -2.8M shares |
| Available history | -15% | -10.4M shares |
PLAB has 59M diluted shares, up 1.1% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $20.7M |
| Q2 2025 | $72.1M |
| Q1 2025 | $4.6M |
| Q4 2023 | — |
PLAB hasn't bought back shares in the past year.
PLAB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.0x | Net Cash |
| Q2 2026 | -1.9x | Net Cash |
| Q1 2026 | -1.9x | Net Cash |
| Q4 2025 | -1.7x | Net Cash |
| Q3 2025 | -1.6x | Net Cash |
| Q2 2025 | -1.8x | Net Cash |
| Q1 2025 | -2.1x | Net Cash |
| Q4 2024 | -1.9x | Net Cash |
PLAB has more cash than debt.
PLAB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.6 | Neutral |
| Stochastic | 15.9 | Oversold |
PLAB's weekly RSI is 43 (neutral) and its Stochastic is 16 (oversold).
PLAB PE vs Technology Sector
| Metric | PLAB | Sector median | Relative |
|---|---|---|---|
| PE | 9.9x | 28x | 65% below |
| PE % | 14 | 35 | 21 pts below |
PLAB is trading at 9.8x earnings, a 65% discount to the Technology sector's median of 28x.
PLAB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $28.8 | 3% below |
| 20 week MA | $29.5 | 5.4% below |
| 50 week MA | $34.6 | 19% below |
| 100 week MA | $27.9 | 0.1% below |
| 200 week MA | $25.7 | 8.3% above |
PLAB has fallen below most of its moving averages, though it's still 8.3% above its 200-week average.
PLAB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.8 | $11.0 | -30% |
| 2021 | $11.0 | $18.5 | +68% |
| 2022 | $18.5 | $16.4 | -11% |
| 2023 | $16.4 | $31.4 | +91% |
| 2024 | $31.4 | $23.9 | -24% |
| 2025 | $23.9 | $33.7 | +41% |
| 2026 YTD | $33.7 | $27.9 | -17% |
PLAB has finished lower in three of the last six years. It's down 17% so far in 2026.