Photronics Inc (PLAB)

Debt-to-capital ratio

		Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Long-term debt	US$ in thousands	—	32,310	89,446	54,980	41,887
Total stockholders’ equity	US$ in thousands	975,008	831,527	823,692	804,962	769,892
Debt-to-capital ratio		0.00	0.04	0.10	0.06	0.05

October 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $975,008K)
= 0.00

The debt-to-capital ratio of Photronics, Inc. has displayed fluctuating trends over the last five years. In 2023, the ratio stands at 0.02, indicating a relatively low level of debt relative to the company's capital. This suggests that Photronics, Inc. has a strong capital base compared to its level of debt, which can be perceived as a positive sign of financial stability. The significant reduction in the ratio from 2021 to 2023 indicates a decrease in the proportion of debt relative to the company's total capital, reflecting potential deleveraging or increased capitalization. Additionally, the declining trend from 2021 to 2023 could imply a strategic effort to reduce reliance on debt financing, potentially lowering financial risk and improving the company's overall financial health. Overall, the decreasing trend in the debt-to-capital ratio reflects a favorable development in Photronics, Inc.'s capital structure and financial leverage.