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Side-by-side financial comparison of H2O AMERICA (HTO) 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 $199.4M, roughly 1.1× H2O AMERICA). PHOTRONICS INC runs the higher net margin — 10.9% vs 8.1%, a 2.7% gap on every dollar of revenue. On growth, H2O AMERICA posted the faster year-over-year revenue change (1.5% vs -5.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -3.8%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $210.4M |
| Net Profit | $16.2M | $22.9M |
| Gross Margin | — | 33.7% |
| Operating Margin | 16.6% | 22.9% |
| Net Margin | 8.1% | 10.9% |
| Revenue YoY | 1.5% | -5.5% |
| Net Profit YoY | -29.2% | -32.4% |
| EPS (diluted) | $0.45 | $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 | $199.4M | — | ||
| Q3 25 | $243.5M | $210.4M | ||
| Q2 25 | $197.8M | $211.0M | ||
| Q1 25 | $164.9M | $212.1M | ||
| Q4 24 | $196.5M | $222.6M | ||
| Q3 24 | $216.7M | $211.0M | ||
| Q2 24 | $173.1M | $217.0M | ||
| Q1 24 | $150.0M | $216.3M |
| Q4 25 | $16.2M | — | ||
| Q3 25 | $45.1M | $22.9M | ||
| Q2 25 | $24.7M | $8.9M | ||
| Q1 25 | $16.6M | $42.9M | ||
| Q4 24 | $22.9M | $33.9M | ||
| Q3 24 | $38.7M | $34.4M | ||
| Q2 24 | $20.7M | $36.3M | ||
| Q1 24 | $11.7M | $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 | 16.6% | — | ||
| Q3 25 | 26.5% | 22.9% | ||
| Q2 25 | 22.2% | 26.4% | ||
| Q1 25 | 21.8% | 24.6% | ||
| Q4 24 | 22.2% | 25.1% | ||
| Q3 24 | 26.9% | 24.7% | ||
| Q2 24 | 23.4% | 25.8% | ||
| Q1 24 | 18.6% | 26.6% |
| Q4 25 | 8.1% | — | ||
| Q3 25 | 18.5% | 10.9% | ||
| Q2 25 | 12.5% | 4.2% | ||
| Q1 25 | 10.0% | 20.2% | ||
| Q4 24 | 11.7% | 15.2% | ||
| Q3 24 | 17.8% | 16.3% | ||
| Q2 24 | 12.0% | 16.7% | ||
| Q1 24 | 7.8% | 12.1% |
| Q4 25 | $0.45 | — | ||
| Q3 25 | $1.27 | $0.39 | ||
| Q2 25 | $0.71 | $0.15 | ||
| Q1 25 | $0.49 | $0.68 | ||
| Q4 24 | $0.70 | $0.54 | ||
| Q3 24 | $1.17 | $0.55 | ||
| Q2 24 | $0.64 | $0.58 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $575.8M |
| Total DebtLower is stronger | $1.9B | $16.0K |
| Stockholders' EquityBook value | $1.5B | $1.1B |
| Total Assets | $5.1B | $1.8B |
| Debt / EquityLower = less leverage | 1.23× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | — | ||
| Q3 25 | $11.3M | $575.8M | ||
| Q2 25 | $19.8M | $558.4M | ||
| Q1 25 | $23.7M | $642.2M | ||
| Q4 24 | $11.1M | $640.7M | ||
| Q3 24 | $4.0M | $606.4M | ||
| Q2 24 | $22.8M | $559.9M | ||
| Q1 24 | $4.5M | $521.5M |
| Q4 25 | $1.9B | — | ||
| Q3 25 | — | $16.0K | ||
| Q2 25 | — | $19.0K | ||
| Q1 25 | — | $21.0K | ||
| Q4 24 | $1.7B | $25.0K | ||
| Q3 24 | — | $28.0K | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $2.7M |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $1.1B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.4B | $1.1B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $1.3B | $1.0B | ||
| Q1 24 | $1.2B | $1.0B |
| Q4 25 | $5.1B | — | ||
| Q3 25 | $5.0B | $1.8B | ||
| Q2 25 | $4.8B | $1.7B | ||
| Q1 25 | $4.7B | $1.7B | ||
| Q4 24 | $4.7B | $1.7B | ||
| Q3 24 | $4.6B | $1.6B | ||
| Q2 24 | $4.4B | $1.6B | ||
| Q1 24 | $4.4B | $1.6B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 1.26× | 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 | $63.5M | $50.1M |
| Free Cash FlowOCF − Capex | — | $25.2M |
| FCF MarginFCF / Revenue | — | 12.0% |
| Capex IntensityCapex / Revenue | — | 11.8% |
| Cash ConversionOCF / Net Profit | 3.92× | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | — | ||
| Q3 25 | $77.3M | $50.1M | ||
| Q2 25 | $60.8M | $31.5M | ||
| Q1 25 | $43.2M | $78.5M | ||
| Q4 24 | $41.5M | $68.4M | ||
| Q3 24 | $53.5M | $75.1M | ||
| Q2 24 | $49.3M | $76.5M | ||
| Q1 24 | $51.2M | $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 | 3.92× | — | ||
| Q3 25 | 1.71× | 2.19× | ||
| Q2 25 | 2.47× | 3.55× | ||
| Q1 25 | 2.61× | 1.83× | ||
| Q4 24 | 1.81× | 2.02× | ||
| Q3 24 | 1.39× | 2.18× | ||
| Q2 24 | 2.38× | 2.11× | ||
| Q1 24 | 4.38× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
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% |
