Filing Flows › Photronics (PLAB) › Q4 FY25
Photronics (PLAB) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Dec 17, 2025
Photronics (PLAB) reported revenue of $216M for the fourth quarter fiscal 2025 (Q4 FY25), -3% from a year earlier and +3% from the quarter before. Operating margin was 24.1%, net earnings $61.8M (28.6% of revenue).
Photronics, Q4 FY25: revenue $216M (-3% year over year), operating margin 24.1%, net earnings $61.8M, operating cash flow $87.8M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $216M | +3% | -3% |
| Gross profit | $75.5M | +7% | -8% |
| Operating profit | $52.1M | +8% | -7% |
| Net earnings | $61.8M | +170% | +82% |
| Operating cash flow | $87.8M | +75% | +28% |
| Free cash flow | $20.3M | -20% | -19% |
What changed
Revenue was $215.8M in Q4 FY25, down 3% year over year and up 3% from the previous quarter. Mainstream Integrated Circuits was the largest line at 42% of revenue.
Gross margin was 35.0%, down 2.0 points from Q4 FY24. Operating profit was $52.1M, a 24.1% margin (down 0.9 points year over year). Operating expenses fell 12% while revenue fell 3%. The fastest-growing cost line was Other operating costs (+32%). Net earnings were $61.8M, up 82% year over year. The effective tax rate was -3.5%. Non-operating items added $23.9M, 31% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $87.8M (up 28% year over year), 112% of net income including minority interests. Non-cash charges added back $18.0M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items used $12.2M. Capital expenditures of $67.5M left free cash flow of $20.3M.
Questions
What was Photronics' revenue in the fourth quarter fiscal 2025?
Photronics (PLAB) reported revenue of $216M for the fourth quarter fiscal 2025 (Q4 FY25), -3% from a year earlier and +3% from the quarter before.
Was Photronics profitable in the fourth quarter fiscal 2025?
Operating profit was $52.1M (24.1% of revenue) and net earnings $61.8M.
Source: Photronics 10-K on SEC EDGAR.