Filing Flows › Photronics (PLAB) › Q2 FY26 › vs Q2 FY25
Photronics (PLAB) Q2 FY26 vs Q2 FY25 (year over year)
Photronics's revenue fell $1.1M (-0.5%) from $211M in Q2 FY25 to $210M in Q2 FY26. The biggest changes: Integrated Circuits −$8.4M (-5%); Flat Panel Displays +$7.3M (+13%). Gross margin 31.3% against 36.9% (-5.6 pts).
Photronics, Q2 FY26: revenue $210M (-0.5% year over year), operating margin 20.1%, net earnings $31.4M, operating cash flow $47.0M. The chart draws each line against Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Gross margin | 31.3% | 36.9% | -5.6 pts |
| Operating margin | 20.1% | 26.4% | -6.3 pts |
| Net margin | 15.0% | 4.2% | +10.8 pts |
| Free cash flow margin | 0.6% | -13.8% | +14.4 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Mainstream Integrated Circuits | $90.9M | $96.6M | −$5.7M | -6% |
| High End Integrated Circuits | $56.7M | $59.3M | −$2.6M | -4% |
| High End Flat Panel Displays | $52.8M | $43.6M | $9.2M | +21% |
| Mainstream Flat Panel Displays | $9.6M | $11.5M | −$1.9M | -16% |
| Integrated Circuits | $148M | $156M | −$8.4M | -5% |
| Flat Panel Displays | $62.4M | $55.1M | $7.3M | +13% |
| Revenue | $210M | $211M | −$1.1M | -0.5% |
| Gross profit | $65.8M | $77.9M | −$12.1M | -16% |
| Cost of revenue | $144M | $133M | $11.1M | +8% |
| Other income, net | $11.7M | −$25.8M | $37.5M | — |
| Operating profit | $42.2M | $55.7M | −$13.5M | -24% |
| Operating expenses | $23.6M | $22.2M | $1.4M | +6% |
| Pre-tax earnings | $53.9M | $29.9M | $23.9M | +80% |
| Research & development | $2.8M | $4.1M | −$1.3M | -31% |
| SG&A | $20.8M | $18.1M | $2.7M | +15% |
| Net earnings | $31.4M | $8.9M | $22.6M | +255% |
| Minority interests | $11.8M | $15.4M | −$3.5M | -23% |
| Income tax | $10.6M | $5.7M | $4.9M | +86% |
| Depreciation & amortization | $20.0M | $19.6M | $416K | +2% |
| Share-based compensation | $3.7M | $3.4M | $349K | +10% |
| Working capital & other | $8.1M | $378K | $7.8M | 22× |
| Operating cash flow | $47.0M | $31.5M | $15.6M | +50% |
| Free cash flow (OCF − capex) | $1.2M | −$29.1M | $30.3M | — |
| Capital expenditures | $45.8M | $60.5M | −$14.7M | -24% |
Questions
How much did Photronics's revenue grow year over year in Q2 FY26?
Photronics's revenue fell $1.1M (-0.5%) from $211M in Q2 FY25 to $210M in Q2 FY26.
What drove Photronics's revenue change in Q2 FY26?
Integrated Circuits −$8.4M (-5%); Flat Panel Displays +$7.3M (+13%).