---
title: "Photronics | 8-K: FY2025 Revenue Beats Estimate at USD 849.29 M"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/269226188.md"
datetime: "2025-12-10T12:03:31.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/269226188.md)
  - [en](https://longbridge.com/en/news/269226188.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/269226188.md)
---

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# Photronics | 8-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 208.16 M.

### Full Year Fiscal 2025 Results

-   **Revenue**: $849.3 million, a decrease of 2.0% year-over-year.
-   **GAAP Net Income**: $136.4 million, or $2.28 per diluted share, compared to $130.7 million, or $2.05 per diluted share in 2024.
-   **Non-GAAP Net Income**: $120.6 million, or $2.01 per diluted share, compared to $127.6 million, or $2.05 per diluted share in 2024.
-   **IC Revenue**: $615.1 million, down 4% year-over-year.
-   **FPD Revenue**: $234.2 million, up 2% year-over-year.
-   **Cash Flow from Operating Activities**: $247.8 million.
-   **Capital Expenditures**: $188.1 million.

### Fourth Quarter Fiscal 2025 Results

-   **Revenue**: $215.8 million, down 3.1% year-over-year and up 2.6% sequentially.
-   **GAAP Net Income**: $61.8 million, or $1.07 per diluted share, compared to $33.9 million, or $0.54 per diluted share, in the fourth quarter of 2024.
-   **Non-GAAP Net Income**: $34.6 million, or $0.60 per diluted share, compared to $37.1 million, or $0.59 per diluted share in the fourth quarter of 2024.
-   **IC Revenue**: $157.4 million, down 4% year-over-year and up 7% sequentially.
-   **FPD Revenue**: $58.3 million, down 1% from the same quarter last year and down 7% sequentially.
-   **Cash Flow from Operating Activities**: $87.8 million.
-   **Capital Expenditures**: $67.5 million.

### Segment Revenue

-   **Total Revenue**: $849 million for the trailing twelve months as of October 31, 2025.
-   **Revenue by Geographic Origin**: Taiwan (33%), South Korea (19%), US (18%), China IC (15%), China FPD (11%), Europe (4%).
-   **Revenue by Technology**: Mainstream (49%), High-End (51%).
-   **Revenue by Product Line**: Integrated Circuits (72%), Flat Panel Display (28%).

### Operational Metrics

-   **Operating Income**: $208 million.
-   **Gross Margin**: 35.0% in FQ4 2025, compared to 33.7% in FQ3 2025 and 37.0% in FQ4 2024.
-   **Operating Margin**: 24.1% in FQ4 2025, compared to 22.9% in FQ3 2025 and 25.1% in FQ4 2024.

### Cash Flow

-   **Operating Cash Flow**: $248 million for the trailing twelve months as of October 31, 2025.
-   **Operating Cash Flow for FQ4 2025**: $87.8 million, compared to $50.1 million in FQ3 2025 and $68.4 million in FQ4 2024.
-   **Capital Expenditures**: $67.5 million in FQ4 2025, compared to $24.8 million in FQ3 2025 and $43.2 million in FQ4 2024.

### Unique Metrics

-   **Market Cap**: $1.46 billion as of December 8, 2025.
-   **Employees**: Approximately 1,900.
-   **Customers**: Approximately 675.

### Outlook / Guidance

-   **FQ1 2026 Revenue Guidance**: Expected to be between $217 million and $225 million.
-   **Operating Margin Guidance**: Expected to be between 23% and 25%.
-   **Diluted non-GAAP EPS Guidance**: Expected to be between $0.51 and $0.59.

### 相關股票

- [Photronics (PLAB.US)](https://longbridge.com/zh-HK/quote/PLAB.US.md)

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