Photronics was founded in 1969 and is headquartered in Brookfield, US

Photronics has offices in Brookfield, Dresden, Bridgend, Allen and in 3 other locations

Brookfield, US (HQ)

15 Secor Rd

Daya District, TW

13 Tongshan Road

Boise, US

10136 S Federal Way

Allen, US

601 Millennium Dr

Bridgend, GB

1 Technology Dr

Dresden, DE

4 Maria-Reiche-Straße

Photronics's revenue was reported to be $108.3 m in Q2, 2017

USD

## Revenue (Q2, 2017) | 108.3 m |

## Gross profit (Q2, 2017) | 196.4 m |

## Gross profit margin (Q2, 2017), % | 181% |

## Net income (Q2, 2017) | 1.5 m |

## EBIT (Q2, 2017) | 5.5 m |

## Market capitalization (18-Aug-2017) | 523.9 m |

## Cash (30-Apr-2017) | 345.7 m |

Photronics's current market capitalization is $523.9 m.

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Revenue | 422.2 m | 455.5 m | 524.2 m | 483.5 m |

## Revenue growth, % | 8% | 15% | (8%) | |

## Cost of goods sold | 322.5 m | 355.2 m | 381.1 m | 364.8 m |

## Gross profit | 99.6 m | 810.7 m | 905.3 m | 118.7 m |

## Gross profit Margin, % | 24% | 178% | 173% | 25% |

## R&D expense | 20.8 m | 21.9 m | 21.9 m | 21.7 m |

## General and administrative expense | 44.6 m | |||

## Operating expense total | 20.8 m | 66.2 m | ||

## EBIT | 30.8 m | 28.8 m | 72.2 m | 52.5 m |

## EBIT margin, % | 7% | 6% | 14% | 11% |

## Interest expense | 7.8 m | 7.2 m | 5 m | 3.4 m |

## Interest income | 3.9 m | 3.4 m | 2.8 m | 2.4 m |

## Pre tax profit | 26.8 m | 41.3 m | 70 m | 60.5 m |

## Income tax expense | (7.2 m) | (9.3 m) | (13.2 m) | (4.8 m) |

## Net Income | 19.6 m | 32 m | 56.9 m | 55.7 m |

USD | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} | Q2, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 124.9 m | 123.5 m | 127.3 m | 131.7 m | 130 m | 122.9 m | 123.2 m | 109.8 m | 108.3 m |

## Cost of goods sold | 96.2 m | 95.3 m | 94.2 m | 94.5 m | 94.5 m | 91.6 m | 91.8 m | 86.8 m | 88.1 m |

## Gross profit | 221.1 m | 218.8 m | 221.5 m | 226.2 m | 224.5 m | 31.3 m | 215 m | 196.7 m | 196.4 m |

## Gross profit Margin, % | 177% | 177% | 174% | 172% | 173% | 25% | 174% | 179% | 181% |

## R&D expense | 5.2 m | 4.7 m | 5.8 m | 6.3 m | 5.7 m | 5.4 m | 5.5 m | 3.5 m | 3.7 m |

## General and administrative expense | 12.4 m | 11.9 m | 12.4 m | 12.4 m | 12.2 m | 11 m | 11.2 m | 10.9 m | 10.9 m |

## Operating expense total | 16.5 m | ||||||||

## EBIT | 11.1 m | 11.6 m | 14.9 m | 18.6 m | 17.5 m | 14.8 m | 14.8 m | 8.6 m | 5.5 m |

## EBIT margin, % | 9% | 9% | 12% | 14% | 13% | 12% | 12% | 8% | 5% |

## Interest expense | 1.8 m | 1.4 m | 1.2 m | 1.2 m | 1.2 m | 964 k | 612 k | 559 k | 549 k |

## Interest income | 641 k | 87 k | 224 k | 1.4 m | 2.1 m | 2 m | 1.8 m | 1.5 m | 3.1 m |

## Pre tax profit | 9.9 m | 10.3 m | 13.4 m | 18.8 m | 27.2 m | 16.2 m | 6.6 m | ||

## Income tax expense | (2.5 m) | (3.1 m) | (1.3 m) | (3.4 m) | (3.7 m) | 2.3 m | (4.8 m) | (2.1 m) | (431 k) |

## Net Income | 7.3 m | 7.1 m | 12.2 m | 15.4 m | 23.5 m | 14.2 m | 11.5 m | 4.5 m | 1.5 m |

- Source: SEC Filings

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Cash | 215.6 m | 192.9 m | 205.9 m | 314.1 m |

## Accounts Receivable | 73.4 m | 94.5 m | 110.1 m | 92.6 m |

## Inventories | 18.8 m | 22.5 m | 24.2 m | 22.1 m |

## Current Assets | 318.5 m | 336.5 m | 364.1 m | 441.6 m |

## PP&E | 422.7 m | 550.1 m | 547.3 m | 506.4 m |

## Total Assets | 885.9 m | 1 b | 1 b | 988.3 m |

## Accounts Payable | 59.2 m | 77.8 m | 79.1 m | 48.9 m |

## Total Debt | 62.1 m | |||

## Current Liabilities | 104.6 m | 139.1 m | 192.7 m | 81.3 m |

## Total Liabilities | 162.8 m | |||

## Additional Paid-in Capital | 498.9 m | 520.2 m | 526.4 m | 541.1 m |

## Retained Earnings | 59.4 m | 85.4 m | 130.1 m | 176.3 m |

## Total Equity | 587.8 m | 739.5 m | 762.1 m | 825.5 m |

## Debt to Equity Ratio | 0.1 x | |||

## Debt to Assets Ratio | 0.1 x | |||

## Financial Leverage | 1.5 x | 1.4 x | 1.4 x | 1.2 x |

USD | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} | Q2, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Cash | 196.3 m | 168.6 m | 176.1 m | 191.6 m | 231.4 m | 194 m | 291.7 m | 329.7 m | 345.7 m |

## Inventories | 23.7 m | 23.8 m | 23.2 m | 23.3 m | 21.8 m | 24.5 m | 24.6 m | 23.6 m | 24.5 m |

## Current Assets | 353.8 m | 320.5 m | 321.6 m | 340.6 m | 373 m | 347.2 m | 441.4 m | 450.5 m | 472.5 m |

## PP&E | 547.4 m | 593 m | 603 m | 568.9 m | 519.3 m | 523.7 m | 522.2 m | 496.7 m | 503.9 m |

## Total Assets | 1 b | 1.1 b | 1.1 b | 1 b | 1 b | 1 b | 1 b | 987.5 m | 1 b |

## Accounts Payable | 82 m | 125.6 m | 119.6 m | 110.9 m | 69.9 m | 65.7 m | 63 m | 47.4 m | 58.2 m |

## Current Liabilities | 149 m | 177 m | 170.2 m | 161.5 m | 166.4 m | 114.1 m | 97.1 m | 75.3 m | 92 m |

## Additional Paid-in Capital | 496.6 m | 521.6 m | 522.9 m | 524.9 m | 529.3 m | 538.5 m | 539.6 m | 543.1 m | 545 m |

## Retained Earnings | 81.2 m | 89.3 m | 99.3 m | 111.4 m | 151.1 m | 162.9 m | 171 m | 178.2 m | 180 m |

## Total Equity | 720.3 m | 728 m | 754 m | 746 m | 767.5 m | 802.8 m | 819.4 m | 831.4 m | 844.8 m |

## Financial Leverage | 1.5 x | 1.4 x | 1.4 x | 1.4 x | 1.3 x | 1.2 x | 1.2 x | 1.2 x | 1.2 x |

USD | FY, 2013^{} | FY, 2014^{} | FY, 2015^{} | FY, 2016^{} |
---|---|---|---|---|

## Net Income | 19.6 m | 32 m | 56.9 m | 55.7 m |

## Accounts Receivable | 2.4 m | 5.3 m | (22 m) | 18.8 m |

## Inventories | (891 k) | (2.6 m) | (2.9 m) | 2.3 m |

## Accounts Payable | 4.4 m | (12.2 m) | 14.1 m | (36.5 m) |

## Cash From Operating Activities | 99.4 m | 96.4 m | 133.2 m | 122.1 m |

## Purchases of PP&E | (63.8 m) | (91.1 m) | (104 m) | (50.1 m) |

## Cash From Investing Activities | (66.2 m) | (87.5 m) | (104.3 m) | 52.3 m |

## Long-term Borrowings | (8.3 m) | (29.8 m) | (9.6 m) | (57.6 m) |

## Cash From Financing Activities | (39.8 m) | (29.5 m) | (7.1 m) | (67 m) |

USD | Q3, 2014^{} | Q1, 2015^{} | Q2, 2015^{} | Q3, 2015^{} | Q1, 2016^{} | Q2, 2016^{} | Q3, 2016^{} | Q1, 2017^{} | Q2, 2017^{} |
---|---|---|---|---|---|---|---|---|---|

## Net Income | 7.3 m | 7.1 m | 12.2 m | 15.4 m | 23.5 m | 14.2 m | 11.5 m | 4.5 m | 1.5 m |

## Inventories | 23.7 m | 23.8 m | 23.2 m | 23.3 m | 21.8 m | 24.5 m | 24.6 m | 23.6 m | 24.5 m |

## Accounts Payable | 82 m | 125.6 m | 119.6 m | 110.9 m | 69.9 m | 65.7 m | 63 m | 47.4 m | 58.2 m |

Y, 2017 | |
---|---|

## Financial Leverage | 1.2 x |

Photronics's Customers was reported to be 600 in FY, 2016

- Source: SEC Filings