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Side-by-side financial comparison of Global Net Lease, Inc. (GNL) and PHOTRONICS INC (PLAB). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $117.0M, roughly 1.8× Global Net Lease, Inc.). Global Net Lease, Inc. runs the higher net margin — 41.2% vs 10.9%, a 30.3% gap on every dollar of revenue. On growth, PHOTRONICS INC posted the faster year-over-year revenue change (-5.5% vs -15.1%). Over the past eight quarters, PHOTRONICS INC's revenue compounded faster (-3.8% CAGR vs -11.1%).
Global Net Lease, Inc. is a publicly traded real estate investment trust that acquires, owns and manages a diversified portfolio of commercial real estate assets under long-term net lease contracts. Its property portfolio spans North America and Europe, covering industrial, office, retail and other key sectors, serving tenants across multiple industries to deliver consistent long-term returns for shareholders.
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.
GNL vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $117.0M | $210.4M |
| Net Profit | $48.2M | $22.9M |
| Gross Margin | — | 33.7% |
| Operating Margin | 94.7% | 22.9% |
| Net Margin | 41.2% | 10.9% |
| Revenue YoY | -15.1% | -5.5% |
| Net Profit YoY | 838.7% | -32.4% |
| EPS (diluted) | $0.14 | $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 | $117.0M | — | ||
| Q3 25 | $121.0M | $210.4M | ||
| Q2 25 | $124.9M | $211.0M | ||
| Q1 25 | $132.4M | $212.1M | ||
| Q4 24 | $137.8M | $222.6M | ||
| Q3 24 | $138.7M | $211.0M | ||
| Q2 24 | $145.5M | $217.0M | ||
| Q1 24 | $147.9M | $216.3M |
| Q4 25 | $48.2M | — | ||
| Q3 25 | $-60.1M | $22.9M | ||
| Q2 25 | $-24.1M | $8.9M | ||
| Q1 25 | $-189.4M | $42.9M | ||
| Q4 24 | $-6.5M | $33.9M | ||
| Q3 24 | $-65.6M | $34.4M | ||
| Q2 24 | $-35.7M | $36.3M | ||
| Q1 24 | $-23.8M | $26.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 36.9% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 37.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 36.6% |
| Q4 25 | 94.7% | — | ||
| Q3 25 | -11.7% | 22.9% | ||
| Q2 25 | 33.9% | 26.4% | ||
| Q1 25 | -21.1% | 24.6% | ||
| Q4 24 | 40.8% | 25.1% | ||
| Q3 24 | 9.3% | 24.7% | ||
| Q2 24 | 42.6% | 25.8% | ||
| Q1 24 | 38.6% | 26.6% |
| Q4 25 | 41.2% | — | ||
| Q3 25 | -49.7% | 10.9% | ||
| Q2 25 | -19.3% | 4.2% | ||
| Q1 25 | -143.0% | 20.2% | ||
| Q4 24 | -4.7% | 15.2% | ||
| Q3 24 | -47.3% | 16.3% | ||
| Q2 24 | -24.5% | 16.7% | ||
| Q1 24 | -16.1% | 12.1% |
| Q4 25 | $0.14 | — | ||
| Q3 25 | $-0.32 | $0.39 | ||
| Q2 25 | $-0.16 | $0.15 | ||
| Q1 25 | $-0.87 | $0.68 | ||
| Q4 24 | $-0.08 | $0.54 | ||
| Q3 24 | $-0.33 | $0.55 | ||
| Q2 24 | $-0.20 | $0.58 | ||
| Q1 24 | $-0.15 | $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 | $180.1M | $575.8M |
| Total DebtLower is stronger | — | $16.0K |
| Stockholders' EquityBook value | $1.7B | $1.1B |
| Total Assets | $4.3B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $180.1M | — | ||
| Q3 25 | $165.1M | $575.8M | ||
| Q2 25 | $144.8M | $558.4M | ||
| Q1 25 | $147.0M | $642.2M | ||
| Q4 24 | $159.7M | $640.7M | ||
| Q3 24 | $127.2M | $606.4M | ||
| Q2 24 | $122.2M | $559.9M | ||
| Q1 24 | $131.9M | $521.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $16.0K | ||
| Q2 25 | — | $19.0K | ||
| Q1 25 | — | $21.0K | ||
| Q4 24 | — | $25.0K | ||
| Q3 24 | — | $28.0K | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $2.7M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | $1.1B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $2.2B | $1.1B | ||
| Q3 24 | $2.3B | $1.1B | ||
| Q2 24 | $2.4B | $1.0B | ||
| Q1 24 | $2.5B | $1.0B |
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.8B | $1.8B | ||
| Q2 25 | $5.0B | $1.7B | ||
| Q1 25 | $5.8B | $1.7B | ||
| Q4 24 | $7.0B | $1.7B | ||
| Q3 24 | $7.3B | $1.6B | ||
| Q2 24 | $7.6B | $1.6B | ||
| Q1 24 | $8.0B | $1.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 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 | $222.8M | $50.1M |
| Free Cash FlowOCF − Capex | — | $25.2M |
| FCF MarginFCF / Revenue | — | 12.0% |
| Capex IntensityCapex / Revenue | — | 11.8% |
| Cash ConversionOCF / Net Profit | 4.62× | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $222.8M | — | ||
| Q3 25 | $56.0M | $50.1M | ||
| Q2 25 | $52.0M | $31.5M | ||
| Q1 25 | $59.2M | $78.5M | ||
| Q4 24 | $299.5M | $68.4M | ||
| Q3 24 | $62.1M | $75.1M | ||
| Q2 24 | $70.4M | $76.5M | ||
| Q1 24 | $92.2M | $41.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $25.2M | ||
| Q2 25 | — | $-29.1M | ||
| Q1 25 | — | $43.3M | ||
| Q4 24 | — | $25.2M | ||
| Q3 24 | — | $50.7M | ||
| Q2 24 | — | $56.5M | ||
| Q1 24 | — | $-1.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | -13.8% | ||
| Q1 25 | — | 20.4% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 26.0% | ||
| Q1 24 | — | -0.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 28.7% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.4% | ||
| Q3 24 | — | 11.6% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 20.0% |
| Q4 25 | 4.62× | — | ||
| Q3 25 | — | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 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
GNL
| Industrial And Distribution Segment | $56.0M | 48% |
| Office Segment | $30.8M | 26% |
| Single Tenant Retail Segment | $30.2M | 26% |
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% |
