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Photronics Altman Z-Score

: 5.16 (As of Today)
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Good Sign:

Altman Z-score of 4.89 is strong.

Photronics has a Altman Z-Score of 5.16, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.

The zones of discrimination were as such:

When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.

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

PLAB' s Altman Z-Score Range Over the Past 10 Years
Min: -0.26   Med: 2.92   Max: 8.61
Current: 4.89

During the past 13 years, Photronics's highest Altman Z-Score was 8.61. The lowest was -0.26. And the median was 2.92.


Photronics Altman Z-Score Historical Data

The historical data trend for Photronics's Altman Z-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 Z-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.81 3.24 3.50 3.02 3.06

Photronics Quarterly Data
Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22
Altman Z-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 3.01 3.06 3.06 3.78 3.71

Competitive Comparison

For the Semiconductor Equipment & Materials subindustry, Photronics's Altman Z-Score, along with its competitors' market caps and Altman Z-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 Altman Z-Score Distribution

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

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



Photronics Altman Z-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.

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

Z=1.2*X1+1.4*X2+3.3*X3+0.6*X4+1.0*X5
=1.2*0.3333+1.4*0.2758+3.3*0.1298+0.6*5.6384+1.0*0.5603
=5.16

* 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 Z-Score when X4 or X5 value is 0.

Trailing Twelve Months (TTM) ended in Apr. 2022:
Total Assets was $1,331.9 Mil.
Total Current Assets was $630.3 Mil.
Total Current Liabilities was $186.5 Mil.
Retained Earnings was $367.3 Mil.
Pre-Tax Income was 57.422 + 42.904 + 37.328 + 32.197 = $169.9 Mil.
Interest Expense was 0.015 + -0.895 + -1.048 + -1.06 = $-3.0 Mil.
Revenue was 204.509 + 189.827 + 181.288 + 170.643 = $746.3 Mil.
Market Cap (Today) was $1,588.1 Mil.
Total Liabilities was $281.7 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
=(630.345 - 186.471)/1331.887
=0.3333

X2=Retained Earnings/Total Assets
=367.344/1331.887
=0.2758

X3=Earnings Before Interest and Taxes/Total Assets
=(Pre-Tax Income - Interest Expense)/Total Assets
=(169.851 - -2.988)/1331.887
=0.1298

X4=Market Value Equity/Book Value of Total Liabilities
=Market Cap/Total Liabilities
=1588.081/281.657
=5.6384

X5=Revenue/Total Assets
=746.267/1331.887
=0.5603

The zones of discrimination were as such:

Distress Zones - 1.81 < Grey Zones < 2.99 - Safe Zones

Photronics has a Altman Z-Score of 5.16 indicating it is in Safe Zones.

Study by Altman found that companies that are in Distress Zone have more than 80% of chances of bankruptcy in two years.


Photronics  (NAS:PLAB) Altman Z-Score Explanation

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, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.

X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.

Read more about Altman Z-Score and the original research.


Be Aware

Altman Z-Score does not apply to financial companies.


Photronics Altman Z-Score Related Terms

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


Photronics 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 Headlines

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