PHOTRONICS, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $849.3M | $866.9M | $892.1M | $824.5M | $663.8M | $609.7M | $550.7M | $535.3M |
| Cost of Revenue | $549.5M | $551.0M | $555.9M | $530.3M | $496.7M | $475.0M | $429.8M | $403.8M |
| Gross Profit | $299.8M | $315.9M | $336.2M | $294.2M | $167.0M | $134.7M | $120.8M | $131.5M |
| Gross Margin | 35.3% | 36.4% | 37.7% | 35.7% | 25.2% | 22.1% | 21.9% | 24.6% |
| Operating Expenses | ||||||||
| Research & Development | $15.8M | $16.6M | $13.7M | $18.3M | $18.5M | $17.1M | $16.4M | $14.5M |
| SG&A Expense | $75.6M | $77.8M | $69.5M | $64.0M | $57.5M | $53.6M | $52.3M | $51.4M |
| Operating Income | $208.2M | $221.5M | $253.1M | $211.9M | $94.6M | $63.9M | $52.1M | $65.6M |
| Operating Margin | 24.5% | 25.6% | 28.4% | 25.7% | 14.2% | 10.5% | 9.5% | 12.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $221.8M | $247.4M | $269.9M | $239.0M | $102.0M | $61.6M | $50.7M | $68.6M |
| Income Tax Expense | $31.6M | $63.6M | $70.3M | $59.8M | $23.2M | $21.3M | $10.2M | $7.3M |
| Net Income | $136.4M | $130.7M | $125.5M | $118.8M | $55.4M | $33.8M | $29.8M | $42.1M |
| Net Margin | 16.1% | 15.1% | 14.1% | 14.4% | 8.4% | 5.5% | 5.4% | 7.9% |
| EPS (Basic) | $2.29 | $2.12 | $2.05 | $1.96 | $0.90 | $0.52 | $0.45 | $0.61 |
| EPS (Diluted) | $2.28 | $2.09 | $2.03 | $1.94 | $0.89 | $0.52 | $0.44 | $0.59 |
| Shares Outstanding (Basic) | 59.6M | 61.7M | 61.1M | 60.6M | 61.4M | 64.9M | 66.3M | 68.8M |
| Shares Outstanding (Diluted) | 59.9M | 62.4M | 61.8M | 61.2M | 62.0M | 65.5M | 69.2M | 74.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |