Photronics
Market Cap
US$742.0m
Last Updated
2021/03/03 23:53 UTC
Data Sources
Company Financials +
Executive Summary
Photronics, Inc., together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. More Details
Rewards
Risk Analysis
No risks detected for PLAB from our risk checks.
Snowflake Analysis
Flawless balance sheet and undervalued.
Similar Companies
Share Price & News
How has Photronics's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PLAB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: PLAB's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
-12.6%
PLAB
-6.9%
US Semiconductor
-3.4%
US Market
1 Year Return
-13.5%
PLAB
57.1%
US Semiconductor
29.4%
US Market
Return vs Industry: PLAB underperformed the US Semiconductor industry which returned 57.1% over the past year.
Return vs Market: PLAB underperformed the US Market which returned 29.4% over the past year.
Shareholder returns
| PLAB | Industry | Market | |
|---|---|---|---|
| 7 Day | -12.6% | -6.9% | -3.4% |
| 30 Day | 0.2% | -1.3% | 0.6% |
| 90 Day | -4.6% | 7.3% | 6.3% |
| 1 Year | -13.5%-13.5% | 59.7%57.1% | 32.2%29.4% |
| 3 Year | 39.3%39.3% | 98.0%87.9% | 51.3%41.7% |
| 5 Year | 17.7%17.7% | 323.4%282.5% | 119.6%95.2% |
Long-Term Price Volatility Vs. Market
How volatile is Photronics's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 months ago | Simply Wall St
Should You Be Adding Photronics (NASDAQ:PLAB) To Your Watchlist Today?2 months ago | Simply Wall St
Should You Be Impressed By Photronics' (NASDAQ:PLAB) Returns on Capital?3 months ago | Simply Wall St
Photronics (NASDAQ:PLAB) Has A Pretty Healthy Balance SheetValuation
Is Photronics undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PLAB ($11.7) is trading below our estimate of fair value ($43.87)
Significantly Below Fair Value: PLAB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PLAB is good value based on its PE Ratio (23.8x) compared to the US Semiconductor industry average (38.1x).
PE vs Market: PLAB is poor value based on its PE Ratio (23.8x) compared to the US market (21.4x).
Price to Earnings Growth Ratio
PEG Ratio: PLAB is good value based on its PEG Ratio (0.8x)
Price to Book Ratio
PB vs Industry: PLAB is good value based on its PB Ratio (0.9x) compared to the US Semiconductor industry average (4.7x).
Next Steps
Future Growth
How is Photronics forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
31.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PLAB's forecast earnings growth (31.2% per year) is above the savings rate (2%).
Earnings vs Market: PLAB's earnings (31.2% per year) are forecast to grow faster than the US market (19.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: PLAB's revenue (7.9% per year) is forecast to grow slower than the US market (10.1% per year).
High Growth Revenue: PLAB's revenue (7.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if PLAB's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Photronics performed over the past 5 years?
-7.6%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PLAB has high quality earnings.
Growing Profit Margin: PLAB's current net profit margins (5.2%) are lower than last year (5.9%).
Past Earnings Growth Analysis
Earnings Trend: PLAB's earnings have declined by 7.6% per year over the past 5 years.
Accelerating Growth: PLAB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PLAB had negative earnings growth (-9.3%) over the past year, making it difficult to compare to the Semiconductor industry average (18.2%).
Return on Equity
High ROE: PLAB's Return on Equity (4%) is considered low.
Next Steps
Financial Health
How is Photronics's financial position?
Financial Position Analysis
Short Term Liabilities: PLAB's short term assets ($506.1M) exceed its short term liabilities ($145.5M).
Long Term Liabilities: PLAB's short term assets ($506.1M) exceed its long term liabilities ($108.0M).
Debt to Equity History and Analysis
Debt Level: PLAB's debt to equity ratio (9.7%) is considered satisfactory.
Reducing Debt: PLAB's debt to equity ratio has reduced from 16.5% to 9.7% over the past 5 years.
Debt Coverage: PLAB's debt is well covered by operating cash flow (146.7%).
Interest Coverage: PLAB's interest payments on its debt are well covered by EBIT (32.5x coverage).
Balance Sheet
Next Steps
Dividend
What is Photronics's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate PLAB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate PLAB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if PLAB's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if PLAB's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of PLAB's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.5yrs
Average management tenure
CEO
Peter Kirlin (59 yo)
5.83yrs
Tenure
US$2,103,896
Compensation
Dr. Peter S. Kirlin, Ph.D. has been the Chief Executive Officer of Photronics, Inc. since May 4, 2015 and served as its Principal Financial Officer since August 25, 2017 until September 5, 2017. Dr. Kirlin...
CEO Compensation Analysis
Compensation vs Market: Peter's total compensation ($USD2.10M) is about average for companies of similar size in the US market ($USD2.20M).
Compensation vs Earnings: Peter's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | 5.83yrs | US$250.80k | 0.83% $ 6.1m | |
| CEO & Director | 5.83yrs | US$2.10m | 0.63% $ 4.7m | |
| Executive VP & CFO | 3.5yrs | US$995.36k | 0.22% $ 1.6m | |
| Executive VP of Strategic Planning & CTO | 17yrs | US$1.04m | 0.23% $ 1.7m | |
| Executive VP | 1.17yrs | US$994.60k | 0.19% $ 1.4m | |
| President of Asia IC - Photomask | no data | US$1.07m | 0.30% $ 2.2m | |
| VP, Corporate Controller | 1.25yrs | no data | no data | |
| Vice President of Investor Relations | no data | no data | no data |
3.5yrs
Average Tenure
63yo
Average Age
Experienced Management: PLAB's management team is considered experienced (3.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Board | 5.83yrs | US$250.80k | 0.83% $ 6.1m | |
| CEO & Director | 5.83yrs | US$2.10m | 0.63% $ 4.7m | |
| Independent Director | 17.17yrs | US$275.80k | 0.16% $ 1.2m | |
| Lead Independent Director | no data | US$305.80k | 0.043% $ 315.9k | |
| Director | 19.17yrs | US$255.80k | 0.088% $ 655.2k | |
| Independent Director | 9.17yrs | US$75.20k | 0% $ 0 | |
| Independent Director | 0.50yr | US$76.38k | 0.028% $ 210.6k | |
| Independent Director | 1.42yrs | US$278.30k | 0.043% $ 315.9k |
5.8yrs
Average Tenure
65.5yo
Average Age
Experienced Board: PLAB's board of directors are considered experienced (5.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Photronics, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Photronics, Inc.
- Ticker: PLAB
- Exchange: NasdaqGS
- Founded: 1969
- Industry: Semiconductor Equipment
- Sector: Semiconductors
- Market Cap: US$741.971m
- Shares outstanding: 63.42m
- Website: https://www.photronics.com
Number of Employees
Location
- Photronics, Inc.
- 15 Secor Road
- Brookfield
- Connecticut
- 6804
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PLAB | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Mar 1987 |
| PQ2 | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Mar 1987 |
Biography
Photronics, Inc., together with its subsidiaries, engages in the manufacture and sale of photomask products and services in the United States, Taiwan, Korea, Europe, China, and internationally. The company...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/03 23:53 |
| End of Day Share Price | 2021/03/03 00:00 |
| Earnings | 2021/01/31 |
| Annual Earnings | 2020/10/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.