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How Photronics (PLAB) makes money

Photronics (PLAB) made $216M of revenue in the third quarter fiscal 2026 (Q3 FY26), +3% from a year earlier. Integrated Circuits brought in $155M (72%); Flat Panel Displays brought in $61.4M (28%). Of every dollar of revenue, 33¢ was left as gross profit, 21¢ was left as operating profit, 13¢ was left as net earnings.

Drawing the Sankey…

Photronics revenue by segment, Q3 FY26Photronics revenue by segment, Q3 FY26Integrated Circuits$155MFlat Panel Displays$61.4M
Photronics: revenue by line, Q3 FY25 to Q3 FY26Photronics: revenue by line, Q3 FY25 to Q3 FY26Integrated CircuitsFlat Panel DisplaysIntegrated Circuits: $155M latest$155MFlat Panel Displays: $61.4M latest$61.4MQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
The mix barely moved between Q3 FY25 and Q3 FY26.
Photronics revenue by quarterPhotronics revenue by quarter$223MQ4 FY24$211MQ2 FY25$210MQ3 FY25$216MQ4 FY25$225MQ1 FY26$210MQ2 FY26$216MQ3 FY26
Photronics: where each dollar of revenue goesPhotronics: where each dollar of revenue goesCost of revenue67¢Gross profit33¢Operating expenses12¢Operating profit21¢Income tax5¢Net earnings13¢Operating cash flow35¢Free cash flow18¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Integrated Circuits$155M71.6%+5%+5%
  ↳ Mainstream Integrated Circuits$86.2M39.9%-5%-9%
  ↳ High End Integrated Circuits$68.5M31.7%+21%+28%
Flat Panel Displays$61.4M28.4%-2%-2%
  ↳ High End Flat Panel Displays$52.3M24.2%-1%-2%
  ↳ Mainstream Flat Panel Displays$9.1M4.2%-6%-0.2%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$216M100.0%
Cost of revenue$144M66.8%
Gross profit$71.7M33.2%
Operating expenses$26.2M12.1%
Operating profit$45.5M21.1%
Income tax$11.0M5.1%
Net earnings$28.9M13.4%
Operating cash flow$76.3M35.3%
Free cash flow$39.4M18.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$216M+3%
Q2 FY26$210M-0.5%
Q1 FY26$225M+6%
Q4 FY25$216M-3%
Q3 FY25$210M-0.3%
Q2 FY25$211M-3%
Q4 FY24$223M-2%

From Photronics' 10-Q filed Sep 10, 2026 (on EDGAR).

Questions

How does Photronics make money?

Photronics (PLAB) made $216M of revenue in the third quarter fiscal 2026 (Q3 FY26), +3% from a year earlier. Integrated Circuits brought in $155M (72%); Flat Panel Displays brought in $61.4M (28%). Of every dollar of revenue, 33¢ was left as gross profit, 21¢ was left as operating profit, 13¢ was left as net earnings.

What is Photronics' biggest business?

Integrated Circuits: $155M in the third quarter fiscal 2026, 72% of revenue, +5% from a year earlier.

What is Photronics' profit margin?

Net earnings were $28.9M, 13.4% of revenue, in the third quarter fiscal 2026; the operating margin was 21.1%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.