Photronics Inc (PLAB)

Gross profit margin

		Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Gross profit	US$ in thousands	336,162	294,213	167,044	134,654	120,841
Revenue	US$ in thousands	894,116	851,354	674,648	609,090	549,360
Gross profit margin		37.60%	34.56%	24.76%	22.11%	22.00%

October 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $336,162K ÷ $894,116K
= 37.60%

Photronics, Inc.'s gross profit margin has shown a positive trend over the past five years, increasing from 21.94% in 2019 to 37.68% in 2023. This indicates improved efficiency in its production processes and an ability to generate higher profits from sales. The steady increase in the gross profit margin suggests effective cost management and potentially increasing pricing power. This trend is a positive sign for the company's profitability and overall financial performance.