PhotronicsFRA:PQ2 +3.88%91 ROE % is 10.28% as of Apr. 2026, which is 51% above its 10-year median of 6.81. GuruFocus rates FRA:PQ2 with a GF Score™ of 91/100 and a GF Value™ of €23.52 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,004 Semiconductors companies, Photronics ranks better than 75.9% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Photronics's annualized net income for the quarter that ended in Apr. 2026 was €107.5 Mil. Photronics's average Total Stockholders Equity over the quarter that ended in Apr. 2026 was €1,046.1 Mil. Therefore, Photronics's annualized ROE % for the quarter that ended in Apr. 2026 was 10.28%.
The historical rank and industry rank for Photronics's ROE % or its related term are showing as below:
FRA:PQ2'
s ROE % Range Over the Past 10 Years
Min: 1.8 Med: 6.81 Max: 14.35
Current: 13.59
During the past 13 years, Photronics's highest ROE % was 14.35%. The lowest was 1.80%. And the median was 6.81%.
FRA:PQ2's ROE % is ranked better than 75.9% of 1004
companies
in the Semiconductors industry
Industry Median: 4.55
vs FRA:PQ2: 13.59
Photronics (FRA:PQ2) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Apr. 2026) net income data. The Revenue data used here is four times the quarterly (Apr. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Photronics ROE % Related Terms
Photronics ROE % Historical Data
* Premium members only.
The historical data trend for Photronics's ROE % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Semiconductor Equipment & Materials subindustry, Photronics's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Photronics ROE % vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Photronics's ROE % distribution charts can be found below:
* The bar in red indicates where Photronics's ROE % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Apr. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Photronics (FRA:PQ2) has a ROE % of 10.28% as of Apr. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Photronics and its competitors. This is 51% above median its historical median of 6.81. Over the past decade, Photronics' ROE % has ranged from 1.80 to 14.35. According to the industry distribution chart, Photronics ranks #242 out of 1004 companies in the Semiconductors industry, placing it in the top 24.1%.
Is Photronics' ROE % too high?
Photronics' current ROE % of 10.28% is 51% above median its 10-year median of 6.81. Over the past 10 years, this metric has ranged from a low of 1.80 to a high of 14.35. The Semiconductors industry median ROE % is 4.55. Photronics' value of 10.28% is 125.9% above this industry median. Based on the distribution chart, Photronics ranks #242 out of 1004 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Photronics has a GF Score™ of 91/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Photronics' ROE % compare to COHU and ICHR?
According to the Semiconductors industry distribution chart, Photronics ranks #242 out of 1004 companies for ROE %. This places Photronics in the top 24% of its industry — outperforming the majority of peers. The industry median ROE % is 4.55. Photronics' value of 10.28% is 125.9% above this benchmark. Historically, Photronics' own ROE % has ranged from 1.80 to 14.35 over the past decade. While the company's 10-year median is 6.81 vs. the industry median of 4.55, Photronics has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Semiconductors company?
The median ROE % among Semiconductors companies is 4.55, based on 1,004 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Photronics's current ROE % of 10.28% is 125.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Photronics and its competitors. For the Semiconductors industry, the median ROE % is 4.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Photronics's current ROE % is 10.28%, which is 51% above median its own 10-year median of 6.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Photronics stock overvalued right now?
Based on GuruFocus' analysis, Photronics (FRA:PQ2) is currently considered Modestly Overvalued. The stock's GF Value™ is €23.52, compared to a current price of €28.08 — trading 19.4% above its estimated fair value. The current ROE % is 10.28%, which is 51% above median its 10-year median of 6.81 and 125.9% above the Semiconductors industry median of 4.55. Photronics' overall GF Score™ is 91/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Photronics (FRA:PQ2), the current ROE % is 10.28% as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Photronics (FRA:PQ2) Overvalued in 2026?
Based on GuruFocus' analysis, Photronics stock appears to be overvalued.
The current stock price of €28.08 is trading 19.4% above its estimated GF Value™ of €23.52.
GuruFocus considers Photronics to be Modestly Overvalued.
Key valuation signals for FRA:PQ2:
ROE %: 10.28% (51% above median its 10-year median of 6.81)
GF Value™: €23.52 vs. price of €28.08 (19.4% above fair value)
Industry Position: 125.9% above the Semiconductors median (#242 of 1004)
No single metric tells the full story. See the FRA:PQ2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Photronics Inc is a U.S.-based company principally engaged in the manufacturing of photomasks, which are high-precision photographic quartz or glass plates containing microscopic images of electronic circuits. Photomasks are a key element in the manufacture of integrated circuits (ICs) and flat-panel displays (FPDs) and are used as masters to transfer circuit patterns onto semiconductor wafers and FPD substrates during fabrication, as well as to a lesser extent, other types of electrical and optical components. The Company has manufacturing facilities in Taiwan, China, South Korea, the United States, and Europe, and generates revenue globally, with Taiwan contributing the majority of total revenue.
91GF Score
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