Photronics Inc (PLAB)

Debt-to-equity 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-equity ratio		0.00	0.00	0.04	0.11	0.07

October 31, 2024 calculation

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

The debt-to-equity ratio of Photronics Inc has shown a decreasing trend over the past five years, indicating a strengthening financial position in terms of leverage. The ratio decreased from 0.11 in 2021 to 0.07 in 2020, and further decreased to 0.04 in 2022 and remained at 0.00 in both 2023 and 2024. A debt-to-equity ratio of 0.00 in 2023 and 2024 suggests that the company had no debt, relying solely on equity to finance its operations during those years. This could indicate a conservative financial strategy or sufficient internal funding capabilities. Overall, the trend of decreasing debt-to-equity ratio reflects a decreasing reliance on debt financing, which can be viewed positively in terms of financial risk management and stability.