Photronics Inc

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PLAB : NASDAQ : Technology
$10.875 up 0.025 | 0.23%
Today's Range: 10.75 - 10.95
Avg. Daily Volume: 334300.0
03/22/17 - 3:59 PM ET

Financial Analysis


PHOTRONICS INC's gross profit margin for the first 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 5.52 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 9.09% 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 Q1 FY17 Q1 FY16
Net Sales ($mil)109.83129.96
EBITDA ($mil)29.6138.17
EBIT ($mil)8.6417.54
Net Income ($mil)1.9521.0


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)329.7231.44
Total Assets ($mil)987.471023.35
Total Debt ($mil)65.97130.18
Equity ($mil)712.48653.07


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin40.0343.14
EBITDA Margin26.9529.36
Operating Margin7.8713.5
Sales Turnover0.470.52
Return on Assets2.746.03
Return on Equity3.89.46
Debt Q1 FY17 Q1 FY16
Current Ratio5.982.24
Debt/Capital0.080.17
Interest Expense0.01.17
Interest Coverage0.014.94


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)68.0867.08
Div / share0.00.0
EPS0.030.28
Book value / share10.479.74
Institutional Own % n/a n/a
Avg Daily Volume363108.0459765.0

Valuation


HOLD. PHOTRONICS INC's P/E ratio indicates a discount compared to an average of 30.20 for the Semiconductors & Semiconductor Equipment industry and a value on par with the S&P 500 average of 26.73. For additional comparison, its price-to-book ratio of 1.03 indicates a significant discount versus the S&P 500 average of 2.98 and a significant discount versus the industry average of 4.80. 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 27.69 Peers 30.20   PLAB 6.71 Peers 17.43

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

PLAB is trading at a valuation on par with 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 12.00 Peers 20.47   PLAB NM Peers 1.53

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 1.03 Peers 4.80   PLAB -53.58 Peers -4.55

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 1.59 Peers 4.71   PLAB -12.69 Peers 21.81

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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