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Photronics (NAS:PLAB) Altman Z2-Score

: 7.65 (As of Today)
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Good Sign:

Photronics has a Altman Z2-Score of 7.65, indicating it is in Safe Zones. This implies the Altman Z2-Score is strong.

The zones of discrimination were as such:

When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.

The historical rank and industry rank for Photronics's Altman Z2-Score or its related term are showing as below:

PLAB' s Altman Z2-Score Range Over the Past 10 Years
Min: -0.51   Med: 4.21   Max: 10.87
Current: 7.65

During the past 13 years, Photronics's highest Altman Z2-Score was 10.87. The lowest was -0.51. And the median was 4.21.


Photronics (NAS:PLAB) Altman Z2-Score Historical Data

The historical data trend for Photronics's Altman Z2-Score 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.

* Premium members only.

Photronics Annual Data
Trend Oct12 Oct13 Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21
Altman Z2-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.21 6.85 6.56 6.85 6.19

Photronics Quarterly Data
Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22
Altman Z2-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.03 6.19 6.48 7.07 7.65

Photronics (NAS:PLAB) Altman Z2-Score Competitive Comparison

For the Semiconductor Equipment & Materials subindustry, Photronics's Altman Z2-Score, along with its competitors' market caps and Altman Z2-Score 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 (NAS:PLAB) Altman Z2-Score Distribution

For the Semiconductors industry and Technology sector, Photronics's Altman Z2-Score distribution charts can be found below:

* The bar in red indicates where Photronics's Altman Z2-Score falls into.



Photronics Altman Z2-Score Calculation

Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.

Photronics's Altman Z2-Score for today is calculated with this formula:

Z=6.56*X1+3.26*X2+6.72*X3+1.05*X4_2
=6.56*0.3564+3.26*0.2953+6.72*0.1538+1.05*3.1535
=7.65

* 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. GuruFocus does not calculate Altman Z2-Score when X4_2 value is 0.

Trailing Twelve Months (TTM) ended in Jul. 2022:
Total Assets was $1,349.6 Mil.
Total Current Assets was $678.1 Mil.
Total Current Liabilities was $197.1 Mil.
Retained Earnings was $398.6 Mil.
Pre-Tax Income was 67.37 + 57.422 + 42.904 + 37.328 = $205.0 Mil.
Interest Expense was -0.622 + 0.015 + -0.895 + -1.048 = $-2.6 Mil.
Total Liabilities was $269.6 Mil.

* Note that for stock reported semi-annually or annually, GuruFocus uses latest annual data as the TTM data.

X1=Working Capital/Total Assets
=(Total Current Assets - Total Current Liabilities)/Total Assets
=(678.055 - 197.114)/1349.597
=0.3564

X2=Retained Earnings/Total Assets
=398.574/1349.597
=0.2953

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(205.024 - -2.55)/1349.597
=0.1538

X4_2=Net Worth/Total Liabilities
=(Total Stockholders Equity - Preferred Stock)/Total Liabilities
=(850.318 - 0)/269.639
=3.1535

The zones of discrimination were as such:

Distress Zones - 1.1 < Grey Zones < 2.6 - Safe Zones

Photronics has a Altman Z2-Score of 7.65 indicating it is in Safe Zones.


Photronics  (NAS:PLAB) Altman Z2-Score Explanation

The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.

X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.

X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.

X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.

X4_2, Net Worth (Total Stockholders Equity - Preferred Stock)/Total Liabilities (NW/TL): it compares a company’s stock net worth with its total liabilities and can be used to assess the extent of its reliance on debt.

Read more about Altman Z2-Score, the original research on Z-Score and the additional research on Z2-Score.


Be Aware

Altman Z2-Score does not apply to financial companies.


Photronics Altman Z2-Score Related Terms

Thank you for viewing the detailed overview of Photronics's Altman Z2-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Photronics (NAS:PLAB) Business Description

Photronics logo
Traded in Other Exchanges
Address
15 Secor Road, Brookfield, CT, USA, 06804
Photronics is a U.S.-based company that is principally engaged in manufacturing photomasks. The photomasks are photographic quartz plates that contain microscopic images of electronic circuits that are used as a component in the manufacture of integrated circuits and flat-panel displays. The revenue from products designed for integrated circuits production accounts for the majority of total revenue, with the rest derived from products for flat-panel display production. The company's assets are located in Taiwan, Korea, and the United States. It generates revenue worldwide, including the United States, Europe, Taiwan, Korea, China, and elsewhere in Asia, with Asia contributing the majority of total revenue.
Executives
Lewis Adam M director 15 SECOR ROAD BROOKFIELD CT 06804
Liao Daniel Jl director 2045 EAST INNOVATION CIRCLE TEMPE AZ 85284
Paladino Mary director 15 SECOR ROAD BROOKFIELD CT 06804
Lee Kang Jyh officer: President, Asia IC Photomask 15 SECOR ROAD BROOKFIELD CT 06804
Jordan John P officer: SVP & Chief Financial Officer 600 EAST GREENWICH AVENUE WEST WARWICK RI 02893
Hsia Liang Choo director 15 SECOR RD. BROOKFIELD CT 06804
Gmt Capital Corp 10 percent owner GMT CAPITAL CORP 2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH ATLANTA GA 30339
Burr Richelle E officer: VP, General Counsel & Secy 15 SECOR RD BROOKFIELD CT 06804
Kirlin Peter S officer: Senior VP, U.S. & Europe 15 SECOR ROAD BROOKFIELD CT 06804
Progler Christopher J officer: VP,Chief Technology Officer 15 SECOR ROAD BROOKFIELD CT 06804
Jeong Soo Hong officer: COO, President-Asia Operations 15 SECOR ROAD BROOKFIELD CT 06804
Luttati Michael J director, officer: Chief Executive Officer 15 SECOR ROAD BROOKFIELD CT 06804
Maris Willem D director 15 SECOR ROAD BROOKFIELD CT 06804
Tyson Mitchell G director 15 SECOR ROAD BROOKFIELD CT 06804
Yomazzo Michael J director 15 SECOR ROAD PO BOX 5226 BROOKFIELD CT 06804

Photronics (NAS:PLAB) Headlines

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