PHOTRONICS INC (PLAB) Stock Fundamental Analysis
NASDAQ:PLAB - Nasdaq - US7194051022 - Common Stock - Currency: USD
We assign a fundamental rating of 6 out of 10 to PLAB. PLAB was compared to 109 industry peers in the Semiconductors & Semiconductor Equipment industry. Both the health and profitability get an excellent rating, making PLAB a very profitable company, without any liquidiy or solvency issues. PLAB may be a bit undervalued, certainly considering the very reasonable score on growth These ratings could make PLAB a good candidate for value investing.
1. Profitability
1.1 Basic Checks
PLAB had positive earnings in the past year.
PLAB had a positive operating cash flow in the past year.
In the past 5 years PLAB has always been profitable.
Each year in the past 5 years PLAB had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 8.64%, PLAB is in the better half of the industry, outperforming 75.23% of the companies in the same industry.
Looking at the Return On Equity, with a value of 13.07%, PLAB is in the better half of the industry, outperforming 76.15% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 10.39%, PLAB belongs to the top of the industry, outperforming 80.73% of the companies in the same industry.
PLAB had an Average Return On Invested Capital over the past 3 years of 12.91%. This is in line with the industry average of 11.14%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.64% | ||
| ROE | 13.07% | ||
| ROIC | 10.39% |
ROA(3y)8.29%
ROA(5y)6.4%
ROE(3y)12.94%
ROE(5y)9.95%
ROIC(3y)12.91%
ROIC(5y)9.9%
1.3 Margins
The Profit Margin of PLAB (17.08%) is better than 76.15% of its industry peers.
In the last couple of years the Profit Margin of PLAB has grown nicely.
With an excellent Operating Margin value of 25.06%, PLAB belongs to the best of the industry, outperforming 85.32% of the companies in the same industry.
PLAB's Operating Margin has improved in the last couple of years.
PLAB's Gross Margin of 36.19% is on the low side compared to the rest of the industry. PLAB is outperformed by 63.30% of its industry peers.
In the last couple of years the Gross Margin of PLAB has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 25.06% | ||
| PM (TTM) | 17.08% | ||
| GM | 36.19% |
OM growth 3Y21.48%
OM growth 5Y21.98%
PM growth 3Y21.78%
PM growth 5Y22.74%
GM growth 3Y13.15%
GM growth 5Y10.69%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so PLAB is still creating some value.
PLAB has more shares outstanding than it did 1 year ago.
PLAB has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, PLAB has an improved debt to assets ratio.
2.2 Solvency
PLAB has a debt to FCF ratio of 0.02. This is a very positive value and a sign of high solvency as it would only need 0.02 years to pay back of all of its debts.
The Debt to FCF ratio of PLAB (0.02) is better than 88.07% of its industry peers.
PLAB has a Debt/Equity ratio of 0.00. This is a healthy value indicating a solid balance between debt and equity.
PLAB has a Debt to Equity ratio of 0.00. This is in the better half of the industry: PLAB outperforms 69.72% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0.02 | ||
| Altman-Z | N/A |
ROIC/WACC0.95
WACC10.97%
2.3 Liquidity
PLAB has a Current Ratio of 5.66. This indicates that PLAB is financially healthy and has no problem in meeting its short term obligations.
PLAB has a better Current ratio (5.66) than 82.57% of its industry peers.
A Quick Ratio of 5.31 indicates that PLAB has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 5.31, PLAB belongs to the top of the industry, outperforming 88.07% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.66 | ||
| Quick Ratio | 5.31 |
3. Growth
3.1 Past
PLAB shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -6.73%.
The Earnings Per Share has been growing by 33.90% on average over the past years. This is a very strong growth
Looking at the last year, PLAB shows a decrease in Revenue. The Revenue has decreased by -3.85% in the last year.
PLAB shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.50% yearly.
EPS 1Y (TTM)-6.73%
EPS 3Y32.05%
EPS 5Y33.9%
EPS Q2Q%23.81%
Revenue 1Y (TTM)-3.85%
Revenue growth 3Y9.31%
Revenue growth 5Y9.5%
Sales Q2Q%-1.94%
3.2 Future
The Earnings Per Share is expected to grow by 7.66% on average over the next years.
The Revenue is expected to grow by 3.81% on average over the next years.
EPS Next Y3.03%
EPS Next 2Y7.66%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year1.13%
Revenue Next 2Y3.81%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 8.50 indicates a reasonable valuation of PLAB.
PLAB's Price/Earnings ratio is rather cheap when compared to the industry. PLAB is cheaper than 95.41% of the companies in the same industry.
When comparing the Price/Earnings ratio of PLAB to the average of the S&P500 Index (28.29), we can say PLAB is valued rather cheaply.
The Price/Forward Earnings ratio is 7.70, which indicates a rather cheap valuation of PLAB.
PLAB's Price/Forward Earnings ratio is rather cheap when compared to the industry. PLAB is cheaper than 97.25% of the companies in the same industry.
PLAB is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.08, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.5 | ||
| Fwd PE | 7.7 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PLAB indicates a rather cheap valuation: PLAB is cheaper than 98.17% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of PLAB indicates a rather cheap valuation: PLAB is cheaper than 99.08% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.4 | ||
| EV/EBITDA | 1.62 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates PLAB does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of PLAB may justify a higher PE ratio.
PEG (NY)2.8
PEG (5Y)0.25
EPS Next 2Y7.66%
EPS Next 3YN/A
5. Dividend
5.1 Amount
No dividends for PLAB!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
17.67
-0.11 (-0.62%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSemiconductors & Semiconductor Equipment
GICS IndustrySemiconductors & Semiconductor Equipment
Earnings (Last)
Earnings (Next)
Inst Owners93.24%
Inst Owner Change0%
Ins Owners3.79%
Ins Owner Change5.27%
Market Cap1.12B
Analysts85
Price Target36.21 (104.92%)
Short Float %4.2%
Short Ratio4.69
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)9.85%
Min EPS beat(2)8.47%
Max EPS beat(2)11.24%
EPS beat(4)2
Avg EPS beat(4)-2.14%
Min EPS beat(4)-17.55%
Max EPS beat(4)11.24%
EPS beat(8)4
Avg EPS beat(8)4.24%
EPS beat(12)6
Avg EPS beat(12)4.17%
EPS beat(16)9
Avg EPS beat(16)6.19%
Revenue beat(2)1
Avg Revenue beat(2)-0.42%
Min Revenue beat(2)-0.96%
Max Revenue beat(2)0.12%
Revenue beat(4)1
Avg Revenue beat(4)-4.2%
Min Revenue beat(4)-8.07%
Max Revenue beat(4)0.12%
Revenue beat(8)2
Avg Revenue beat(8)-2.34%
Revenue beat(12)5
Avg Revenue beat(12)-0.89%
Revenue beat(16)7
Avg Revenue beat(16)-0.57%
PT rev (1m)1.43%
PT rev (3m)1.43%
EPS NQ rev (1m)1.04%
EPS NQ rev (3m)-9.01%
EPS NY rev (1m)-4.76%
EPS NY rev (3m)-4.76%
Revenue NQ rev (1m)0.03%
Revenue NQ rev (3m)-7.8%
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)-4.69%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.5 | ||
| Fwd PE | 7.7 | ||
| P/S | 1.3 | ||
| P/FCF | 6.4 | ||
| P/OCF | 3.76 | ||
| P/B | 1 | ||
| P/tB | 1 | ||
| EV/EBITDA | 1.62 |
EPS(TTM)2.08
EY11.77%
EPS(NY)2.3
Fwd EY12.99%
FCF(TTM)2.76
FCFY15.62%
OCF(TTM)4.69
OCFY26.57%
SpS13.57
BVpS17.74
TBVpS17.74
PEG (NY)2.8
PEG (5Y)0.25
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.64% | ||
| ROE | 13.07% | ||
| ROCE | 14.02% | ||
| ROIC | 10.39% | ||
| ROICexc | 17.81% | ||
| ROICexgc | 17.81% | ||
| OM | 25.06% | ||
| PM (TTM) | 17.08% | ||
| GM | 36.19% | ||
| FCFM | 20.33% |
ROA(3y)8.29%
ROA(5y)6.4%
ROE(3y)12.94%
ROE(5y)9.95%
ROIC(3y)12.91%
ROIC(5y)9.9%
ROICexc(3y)20.57%
ROICexc(5y)15.24%
ROICexgc(3y)20.57%
ROICexgc(5y)15.24%
ROCE(3y)17.42%
ROCE(5y)13.37%
ROICexcg growth 3Y30.41%
ROICexcg growth 5Y29.52%
ROICexc growth 3Y30.45%
ROICexc growth 5Y29.79%
OM growth 3Y21.48%
OM growth 5Y21.98%
PM growth 3Y21.78%
PM growth 5Y22.74%
GM growth 3Y13.15%
GM growth 5Y10.69%
F-Score5
Asset Turnover0.51
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0.02 | ||
| Debt/EBITDA | 0 | ||
| Cap/Depr | 148.35% | ||
| Cap/Sales | 14.25% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 99.77% | ||
| Profit Quality | 119.05% | ||
| Current Ratio | 5.66 | ||
| Quick Ratio | 5.31 | ||
| Altman-Z | N/A |
F-Score5
WACC10.97%
ROIC/WACC0.95
Cap/Depr(3y)153.58%
Cap/Depr(5y)131.47%
Cap/Sales(3y)14.5%
Cap/Sales(5y)14.32%
Profit Quality(3y)124.28%
Profit Quality(5y)132.15%
High Growth Momentum
Growth
EPS 1Y (TTM)-6.73%
EPS 3Y32.05%
EPS 5Y33.9%
EPS Q2Q%23.81%
EPS Next Y3.03%
EPS Next 2Y7.66%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-3.85%
Revenue growth 3Y9.31%
Revenue growth 5Y9.5%
Sales Q2Q%-1.94%
Revenue Next Year1.13%
Revenue Next 2Y3.81%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-15.07%
EBIT growth 3Y32.79%
EBIT growth 5Y33.57%
EBIT Next Year34.67%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y47.05%
FCF growth 3Y46.47%
FCF growth 5YN/A
OCF growth 1Y22.4%
OCF growth 3Y20.13%
OCF growth 5Y30.76%