---
title: "Photronics | 10-K: FY2025 Revenue Beats Estimate at USD 849.29 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/270054593.md"
datetime: "2025-12-17T19:26:44.000Z"
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# Photronics | 10-K: FY2025 Revenue Beats Estimate at USD 849.29 M

Revenue: As of FY2025, the actual value is USD 849.29 M, beating the estimate of USD 838.05 M.

EPS: As of FY2025, the actual value is USD 2.28, beating the estimate of USD 1.68.

EBIT: As of FY2025, the actual value is USD 208.22 M.

### Segment Revenue

-   **IC Revenue**: $615.1 million in FY25, a decrease of 3.6% from FY24 ($638.2 million) and a decrease of 5.6% from FY23 ($651.3 million).
-   **FPD Revenue**: $234.2 million in FY25, an increase of 2.4% from FY24 ($228.8 million) and a decrease of 2.7% from FY23 ($240.8 million).

### Operational Metrics

-   **Gross Profit**: $299.8 million in FY25, a decrease of 5.1% from FY24 ($315.9 million) and a decrease of 10.8% from FY23 ($336.2 million).
-   **Gross Margin**: 35.3% in FY25, down from 36.4% in FY24 and 37.7% in FY23.
-   **Operating Income**: $208.2 million in FY25, a decrease of 6.0% from FY24 ($221.5 million) and a decrease of 17.7% from FY23 ($253.1 million).
-   **Operating Margin**: 24.5% in FY25, down from 25.6% in FY24 and 28.4% in FY23.
-   **Net Income**: $190.2 million in FY25, an increase of 3.5% from FY24 ($183.8 million) and a decrease of 4.7% from FY23 ($199.6 million).
-   **Net Income Attributable to Photronics, Inc. Shareholders**: $136.4 million in FY25, an increase of 4.4% from FY24 ($130.7 million) and an increase of 8.7% from FY23 ($125.5 million).

### Cash Flow

-   **Net Cash Provided by Operating Activities**: $247.8 million in FY25, a decrease of 5.2% from FY24 ($261.4 million) and a decrease of 18.0% from FY23 ($302.2 million).
-   **Net Cash Used in Investing Activities**: $238.9 million in FY25, an increase of 52.7% from FY24 ($156.5 million) and an increase of 135.3% from FY23 ($101.5 million).
-   **Net Cash Used in Financing Activities**: $115.3 million in FY25, an increase of 1393.5% from FY24 ($7.7 million) and an increase of 523.2% from FY23 ($18.5 million).

### Unique Metrics

-   **Research and Development Expenses**: $15.8 million in FY25, a decrease of 4.8% from FY24 ($16.6 million) and an increase of 15.3% from FY23 ($13.7 million).
-   **Capital Expenditures**: $188.1 million in FY25, an increase of 43.7% from FY24 ($130.9 million) and an increase of 43.3% from FY23 ($131.3 million).

### Outlook / Guidance

-   **Capital Expenditures for FY26**: Expected to be approximately $330 million, targeted towards high-end and mainstream “point” tools to increase operating capacity and efficiency.
-   **Revenue Growth**: The company expects advanced-generation designs to continue to move to production throughout fiscal 2026, positioning them to service an increasing volume of this business.
-   **Investment in Technology**: Continued investments in manufacturing processes and technology in regions where customers are located to support technological and production requirements.

### Related Stocks

- [Photronics, Inc. (PLAB.US)](https://longbridge.com/en/quote/PLAB.US.md)

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