Stock fact sheet · data as of
Photronics, Inc. (PLAB): fair value, margin of safety and Wheel Score
Ticker symbol PLAB · Technology · Semiconductors · United States · Value
Is PLAB undervalued?
PLAB closed at 27.38 on 5 Nov 2026, 25% below the GLS average fair value of 36.33 from 8 models (5 of them above the price). That is a moderate margin of safety: the stock passes the "below fair value" Wheel Trade Filter, with room for a bigger discount on the Value part.
There is a wide gap between GLS Growth (10.42) and 10 Cap (66.73). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, PLAB is clearly cheaper than it is fast-growing, so the nightly engine files it under Value (value score 65, growth score 24, out of 100).
Nine valuation models for PLAB
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 25.99 | -5% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 37.49 | +37% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 61.52 | +125% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 19.40 | -29% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 10.42 | -62% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 66.73 | +144% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 37.52 | +37% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 31.53 | +15% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 11.57 | -58% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 42.25 | +54% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Photronics, Inc. scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability PLAB scores 5.7/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are moderate - ROIC 11.6%, ROE 11.6%, ROA 7.6% - with debt at 0.01 times equity and a free-cash-flow yield of 6.8%.
Photronics, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Mainstream Integrated Circuits 44%, High end Integrated Circuits 28%, High end Flat Panel Displays 23% (quarter Q1 FY2025).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 11.6% |
|---|---|---|---|
| GLS Moat | 5.7 / 10 | ROE | 11.6% |
| Debt / equity | 0.01 | ROA | 7.6% |
| Free-cash-flow yield | 6.8% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 42: Weak
With a Wheel Score of 42 Photronics, Inc. sits in the Weak band. It fails filter 4, financially healthy - Piotroski 5/9 (under 6); Option trading (weak) is its weakest part.
Implied volatility is 74% on the near-the-money contracts 20-60 days out - above the 60% top of the sweet spot. It still passes the 25-80% filter, but the Wheel Score rewards it less because volatility this high usually comes with a reason. Chain open interest is 20,072 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.1M shares a day on a market cap of $1.6B, with a beta of 1.41 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 25% below fair value | |
| Premium | Good | implied volatility 74% | |
| Moat | Fair | moat 5.7/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Good | Red Flags score 82/100 | |
| Option trading | Weak | 299 contracts a day, 20,072 open interest | |
| Stability | Fair | beta 1.41, $1.6B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 9 Dec 2026 (before the open), 34 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Semiconductors
The 12 companies below are the closest to Photronics, Inc. by market cap within the Semiconductors industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| IMOS ChipMOS TECHNOLOGIES Inc. | 51.19 | 40.18 | -27% | 33Weak | $1.8B |
| HIMX Himax Technologies, Inc. | 10.44 | 4.83 | -116% | 33Weak | $1.8B |
| LASR nLIGHT, Inc. | 32.99 | 19.00 | -74% | 21Weak | $1.9B |
| AEHR Aehr Test Systems | 60.84 | 2.30 | -2541% | 21Weak | $2.0B |
| ICHR Ichor Holdings, Ltd. | 33.71 | 3.38 | -897% | 30Weak | $1.3B |
| COHU Cohu, Inc. | 43.98 | 18.17 | -142% | 22Weak | $2.1B |
| UCTT Ultra Clean Holdings, Inc. | 44.04 | 10.80 | -308% | 25Weak | $2.1B |
| NLST Netlist, Inc. | 5.99 | 0.0304 | -19591% | 14No options | $2.2B |
| WOLF Wolfspeed Inc. | 22.85 | - | - | 15Weak | $1.2B |
| VECO Veeco Instruments Inc. | 36.00 | 17.03 | -111% | 25Weak | $2.2B |
| OUST Ouster, Inc. | 33.54 | - | - | 20Weak | $2.4B |
| NVTS Navitas Semiconductor Corp | 9.33 | - | - | 20Weak | $2.4B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about PLAB
Is PLAB undervalued right now?
By the GLS models, moderately: at 27.38 the stock trades 25% below the average fair value of 36.33 (data as of 5 Nov 2026).
What is the Wheel Score of PLAB and what does it mean?
PLAB scores 42 out of 100 (Weak) - it fails Wheel Trade Filter 4. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for PLAB?
36.33 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Photronics, Inc. report earnings next?
The next earnings report is due on 9 Dec 2026 (before the open), 34 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does PLAB have listed options, and how liquid are they?
Yes. The nightly snapshot found 24 listed contracts with 20,072 open interest across all expiries and implied volatility of 74% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.