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Side-by-side financial comparison of dLocal Ltd (DLO) and PHOTRONICS INC (PLAB). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $210.4M, roughly 1.6× PHOTRONICS INC). dLocal Ltd runs the higher net margin — 16.5% vs 10.9%, a 5.6% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs -5.5%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $25.2M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
Photronics, Inc. is an American semiconductor photomask manufacturer. It was the third largest photomask supplier globally as of 2009. Photronics is a member of the eBeam Initiative.
DLO vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $210.4M |
| Net Profit | $55.6M | $22.9M |
| Gross Margin | 34.3% | 33.7% |
| Operating Margin | 18.6% | 22.9% |
| Net Margin | 16.5% | 10.9% |
| Revenue YoY | 65.2% | -5.5% |
| Net Profit YoY | 87.3% | -32.4% |
| EPS (diluted) | $0.18 | $0.39 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $337.9M | — | ||
| Q3 25 | $282.5M | $210.4M | ||
| Q2 25 | — | $211.0M | ||
| Q1 25 | — | $212.1M | ||
| Q4 24 | $204.5M | $222.6M | ||
| Q3 24 | $185.8M | $211.0M | ||
| Q2 24 | — | $217.0M | ||
| Q1 24 | — | $216.3M |
| Q4 25 | $55.6M | — | ||
| Q3 25 | $141.3M | $22.9M | ||
| Q2 25 | — | $8.9M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | $29.7M | $33.9M | ||
| Q3 24 | $90.8M | $34.4M | ||
| Q2 24 | — | $36.3M | ||
| Q1 24 | — | $26.2M |
| Q4 25 | 34.3% | — | ||
| Q3 25 | 36.5% | 33.7% | ||
| Q2 25 | — | 36.9% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | 40.9% | 37.0% | ||
| Q3 24 | 42.1% | 35.6% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 36.6% |
| Q4 25 | 18.6% | — | ||
| Q3 25 | 19.7% | 22.9% | ||
| Q2 25 | — | 26.4% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | 20.7% | 25.1% | ||
| Q3 24 | 22.1% | 24.7% | ||
| Q2 24 | — | 25.8% | ||
| Q1 24 | — | 26.6% |
| Q4 25 | 16.5% | — | ||
| Q3 25 | 50.0% | 10.9% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | 20.2% | ||
| Q4 24 | 14.5% | 15.2% | ||
| Q3 24 | 48.9% | 16.3% | ||
| Q2 24 | — | 16.7% | ||
| Q1 24 | — | 12.1% |
| Q4 25 | $0.18 | — | ||
| Q3 25 | $0.17 | $0.39 | ||
| Q2 25 | — | $0.15 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | $0.09 | $0.54 | ||
| Q3 24 | $0.09 | $0.55 | ||
| Q2 24 | — | $0.58 | ||
| Q1 24 | — | $0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | $575.8M |
| Total DebtLower is stronger | $86.7M | $16.0K |
| Stockholders' EquityBook value | $569.4M | $1.1B |
| Total Assets | $1.5B | $1.8B |
| Debt / EquityLower = less leverage | 0.15× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | — | ||
| Q3 25 | $604.5M | $575.8M | ||
| Q2 25 | — | $558.4M | ||
| Q1 25 | — | $642.2M | ||
| Q4 24 | $425.2M | $640.7M | ||
| Q3 24 | $560.5M | $606.4M | ||
| Q2 24 | — | $559.9M | ||
| Q1 24 | — | $521.5M |
| Q4 25 | $86.7M | — | ||
| Q3 25 | $63.1M | $16.0K | ||
| Q2 25 | — | $19.0K | ||
| Q1 25 | — | $21.0K | ||
| Q4 24 | $39.8M | $25.0K | ||
| Q3 24 | — | $28.0K | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $2.7M |
| Q4 25 | $569.4M | — | ||
| Q3 25 | $504.7M | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $489.0M | $1.1B | ||
| Q3 24 | $457.0M | $1.1B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $1.0B |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.4B | $1.8B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | $1.2B | $1.7B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.6B |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.12× | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 0.08× | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $100.4M | $50.1M |
| Free Cash FlowOCF − Capex | $99.8M | $25.2M |
| FCF MarginFCF / Revenue | 29.5% | 12.0% |
| Capex IntensityCapex / Revenue | 0.2% | 11.8% |
| Cash ConversionOCF / Net Profit | 1.80× | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | — | ||
| Q3 25 | $315.0M | $50.1M | ||
| Q2 25 | — | $31.5M | ||
| Q1 25 | — | $78.5M | ||
| Q4 24 | $-141.1M | $68.4M | ||
| Q3 24 | $108.3M | $75.1M | ||
| Q2 24 | — | $76.5M | ||
| Q1 24 | — | $41.5M |
| Q4 25 | $99.8M | — | ||
| Q3 25 | $313.4M | $25.2M | ||
| Q2 25 | — | $-29.1M | ||
| Q1 25 | — | $43.3M | ||
| Q4 24 | $-141.6M | $25.2M | ||
| Q3 24 | $107.1M | $50.7M | ||
| Q2 24 | — | $56.5M | ||
| Q1 24 | — | $-1.8M |
| Q4 25 | 29.5% | — | ||
| Q3 25 | 110.9% | 12.0% | ||
| Q2 25 | — | -13.8% | ||
| Q1 25 | — | 20.4% | ||
| Q4 24 | -69.2% | 11.3% | ||
| Q3 24 | 57.6% | 24.0% | ||
| Q2 24 | — | 26.0% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.6% | 11.8% | ||
| Q2 25 | — | 28.7% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | 0.2% | 19.4% | ||
| Q3 24 | 0.7% | 11.6% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 20.0% |
| Q4 25 | 1.80× | — | ||
| Q3 25 | 2.23× | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | -4.75× | 2.02× | ||
| Q3 24 | 1.19× | 2.18× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | — | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLO
Segment breakdown not available.
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
