Photronics Inc

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PLAB : NASDAQ : Technology
$7.825 -0.13 | -1.6%
Today's Range: 7.8 - 7.95
Avg. Daily Volume: 533900.0
08/23/17 - 12:00 PM ET

Financial Analysis


PHOTRONICS INC's gross profit margin for the third quarter of its fiscal year 2017 has decreased when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its industry. PHOTRONICS INC is extremely liquid. Currently, the Quick Ratio is 5.45 which clearly shows the ability to cover any short-term cash needs. PLAB managed to increase the liquidity from the same period a year ago, despite already having very strong liquidity to begin with. This would indicate improved cash flow.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 4.66% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q3 FY17 Q3 FY16
Net Sales ($mil)111.58123.21
EBITDA ($mil)26.9734.46
EBIT ($mil)5.2714.82
Net Income ($mil)4.08.09


Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)340.57291.67
Total Assets ($mil)1008.61000.44
Total Debt ($mil)63.3268.9
Equity ($mil)739.28706.31


Profitability Q3 FY17 Q3 FY16
Gross Profit Margin38.9141.47
EBITDA Margin24.1727.96
Operating Margin4.7212.03
Sales Turnover0.430.52
Return on Assets1.285.95
Return on Equity1.758.43
Debt Q3 FY17 Q3 FY16
Current Ratio5.914.55
Debt/Capital0.080.09
Interest Expense0.00.61
Interest Coverage0.024.22


Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)68.567.97
Div / share0.00.0
EPS0.060.12
Book value / share10.7910.39
Institutional Own % n/a n/a
Avg Daily Volume531573.0356660.0

Valuation


HOLD. This stock's P/E ratio indicates a premium compared to an average of 32.08 for the Semiconductors & Semiconductor Equipment industry and a significant premium compared to the S&P 500 average of 24.23. For additional comparison, its price-to-book ratio of 0.72 indicates a significant discount versus the S&P 500 average of 3.02 and a significant discount versus the industry average of 5.24. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
PLAB 38.75 Peers 32.08   PLAB 5.08 Peers 18.72

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

PLAB is trading at a premium to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

PLAB is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
PLAB 12.92 Peers 20.52   PLAB NM Peers 1.09

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

PLAB is trading at a significant premium to its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

PLAB's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
PLAB 0.72 Peers 5.24   PLAB -75.31 Peers 51.84

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

PLAB is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, PLAB is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
PLAB 1.21 Peers 5.04   PLAB -15.59 Peers 27.02

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

PLAB is trading at a significant discount to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

PLAB significantly trails its peers on the basis of sales growth

 

 

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