Photronics Inc (PLAB)

Debt-to-capital ratio

		Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020
Long-term debt	US$ in thousands	—	—	32,310	89,446	54,980
Total stockholders’ equity	US$ in thousands	1,120,860	975,008	831,527	823,692	804,962
Debt-to-capital ratio		0.00	0.00	0.04	0.10	0.06

October 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,120,860K)
= 0.00

The debt-to-capital ratio of Photronics Inc has shown a decreasing trend over the past five years, indicating a decreasing reliance on debt to finance its operations relative to its total capital structure. This trend suggests that the company has been paying down its debt or increasing its equity base. In 2024, the debt-to-capital ratio was at 0.00, indicating that the company had no debt in its capital structure and relied entirely on equity for financing its operations. This could imply a lower financial risk and potentially provide more flexibility in managing the company's financial obligations. However, it is important to note that a debt-to-capital ratio of 0.00 may also indicate underutilization of debt as a financing source, which could limit the company's ability to take advantage of potential growth opportunities.