What is Photronics's net debt?

Photronics (PLAB) reported net debt of -$510.5M in Q1 2026.

How has Photronics's net debt changed year-over-year?

Photronics's net debt increased by 4.3% year-over-year, from -$533.52M to -$510.5M.

What is the long-term trend for Photronics's net debt?

Over 5 years (2020 to 2025), Photronics's net debt has grown at a 17.9% compound annual growth rate (CAGR), from -$214.73M to -$489.13M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Photronics PLAB Net debt

Discontinued — last reported Q2 '26

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Other financials

Income statement

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Revenue$209.9M-0.5%

Gross profit$65.8M-15.6%

Operating income$42.2M-24.3%

Net income$31.4M+255%

EPS (diluted)$0.54+260%

Balance sheet

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Cash & equivalents$514.4M-3.6%

Total debt$3.9M+12,780%

Total equity$1.2B+12.7%

Total assets$1.9B+13.4%

Cash flow

See full

Operating cash flow$47.0M+49.5%

CapEx$45.8M-24.4%

Free cash flow$1.2M—

Valuation

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Market cap$1.87B+146%

Enterprise value$1.36B+268%

P/E11.7×+5.4×

P/S2.2×+1.3×

Profitability

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Gross margin33.8%-2.5pp

Operating margin22.9%-2.3pp

Net margin18.5%+4.5pp

FCF margin11.2%—

Returns & leverage

See full

Return on equity13.6%+2.3pp

Debt / equity0×—

Current ratio5×-0.1×

Where this comes from

Calculated from Photronics’s reported figures.

$3.9Mtotal debt−$514.4Mcash and equivalents=-$510.5M

The official record: Photronics’s 10-Q, filed June 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Photronics's net debt?: Photronics (PLAB) reported net debt of -$510.5M in Q1 2026.
How has Photronics's net debt changed year-over-year?: Photronics's net debt increased by 4.3% year-over-year, from -$533.52M to -$510.5M.
What is the long-term trend for Photronics's net debt?: Over 5 years (2020 to 2025), Photronics's net debt has grown at a 17.9% compound annual growth rate (CAGR), from -$214.73M to -$489.13M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.