Photronics Inc

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PLAB : NASDAQ : Technology
$9.66 | %
Today's Range: 9.63 - 9.79
Avg. Daily Volume: 373,900
07/29/16 - 4:00 PM ET

Financial Analysis


PHOTRONICS INC's gross profit margin for the second quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. Even though sales decreased, the net income has increased. PHOTRONICS INC is extremely liquid. Currently, the Quick Ratio is 2.61 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has increased by 8.71% 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 Q2 FY16 Q2 FY15
Net Sales ($mil)122.92127.31
EBITDA ($mil)35.0234.33
EBIT ($mil)14.8214.87
Net Income ($mil)11.8510.06


Balance Sheet Q2 FY16 Q2 FY15
Cash & Equiv. ($mil)193.98176.05
Total Assets ($mil)1001.911063.19
Total Debt ($mil)70.23137.44
Equity ($mil)693.28637.71


Profitability Q2 FY16 Q2 FY15
Gross Profit Margin41.8941.28
EBITDA Margin28.4826.96
Operating Margin12.0511.68
Sales Turnover0.530.47
Return on Assets6.342.1
Return on Equity9.173.5
Debt Q2 FY16 Q2 FY15
Current Ratio3.041.89
Debt/Capital0.090.18
Interest Expense0.961.23
Interest Coverage15.3712.06


Share Data Q2 FY16 Q2 FY15
Shares outstanding (mil)67.9466.3
Div / share0.00.0
EPS0.160.14
Book value / share10.29.62
Institutional Own % n/a n/a
Avg Daily Volume385194.0721562.0

Valuation


HOLD. PHOTRONICS INC's P/E ratio indicates a significant discount compared to an average of 35.97 for the Semiconductors & Semiconductor Equipment industry and a significant discount compared to the S&P 500 average of 25.05. For additional comparison, its price-to-book ratio of 0.93 indicates a significant discount versus the S&P 500 average of 2.81 and a significant discount versus the industry average of 4.20. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, PHOTRONICS INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
PLAB 11.06 Peers 35.97   PLAB 4.56 Peers 26.17

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

PLAB is trading at a significant discount 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 13.03 Peers 18.96   PLAB NM Peers 2.94

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

PLAB is trading at a discount 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 0.93 Peers 4.20   PLAB 152.94 Peers -6.14

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.

 

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

PLAB is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
PLAB 1.23 Peers 4.88   PLAB 5.27 Peers 4.47

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.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

PLAB has a sales growth rate that exceeds its peers.

 

 

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