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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) 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 $159.9M, roughly 1.3× INSTEEL INDUSTRIES INC). PHOTRONICS INC runs the higher net margin — 10.9% vs 4.7%, a 6.1% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs -5.5%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs -3.8%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs PLAB — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $210.4M |
| Net Profit | $7.6M | $22.9M |
| Gross Margin | 11.3% | 33.7% |
| Operating Margin | 6.0% | 22.9% |
| Net Margin | 4.7% | 10.9% |
| Revenue YoY | 23.3% | -5.5% |
| Net Profit YoY | 602.4% | -32.4% |
| EPS (diluted) | $0.39 | $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 | $159.9M | — | ||
| Q3 25 | $177.4M | $210.4M | ||
| Q2 25 | $179.9M | $211.0M | ||
| Q1 25 | $160.7M | $212.1M | ||
| Q4 24 | $129.7M | $222.6M | ||
| Q3 24 | $134.3M | $211.0M | ||
| Q2 24 | $145.8M | $217.0M | ||
| Q1 24 | $127.4M | $216.3M |
| Q4 25 | $7.6M | — | ||
| Q3 25 | $14.6M | $22.9M | ||
| Q2 25 | $15.2M | $8.9M | ||
| Q1 25 | $10.2M | $42.9M | ||
| Q4 24 | $1.1M | $33.9M | ||
| Q3 24 | $4.7M | $34.4M | ||
| Q2 24 | $6.6M | $36.3M | ||
| Q1 24 | $6.9M | $26.2M |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.1% | 33.7% | ||
| Q2 25 | 17.1% | 36.9% | ||
| Q1 25 | 15.3% | 35.6% | ||
| Q4 24 | 7.3% | 37.0% | ||
| Q3 24 | 9.1% | 35.6% | ||
| Q2 24 | 10.6% | 36.5% | ||
| Q1 24 | 12.3% | 36.6% |
| Q4 25 | 6.0% | — | ||
| Q3 25 | 10.8% | 22.9% | ||
| Q2 25 | 11.0% | 26.4% | ||
| Q1 25 | 8.3% | 24.6% | ||
| Q4 24 | 1.1% | 25.1% | ||
| Q3 24 | 4.5% | 24.7% | ||
| Q2 24 | 6.0% | 25.8% | ||
| Q1 24 | 7.0% | 26.6% |
| Q4 25 | 4.7% | — | ||
| Q3 25 | 8.2% | 10.9% | ||
| Q2 25 | 8.4% | 4.2% | ||
| Q1 25 | 6.4% | 20.2% | ||
| Q4 24 | 0.8% | 15.2% | ||
| Q3 24 | 3.5% | 16.3% | ||
| Q2 24 | 4.5% | 16.7% | ||
| Q1 24 | 5.4% | 12.1% |
| Q4 25 | $0.39 | — | ||
| Q3 25 | $0.74 | $0.39 | ||
| Q2 25 | $0.78 | $0.15 | ||
| Q1 25 | $0.52 | $0.68 | ||
| Q4 24 | $0.06 | $0.54 | ||
| Q3 24 | $0.24 | $0.55 | ||
| Q2 24 | $0.34 | $0.58 | ||
| Q1 24 | $0.35 | $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 | $15.6M | $575.8M |
| Total DebtLower is stronger | — | $16.0K |
| Stockholders' EquityBook value | $358.8M | $1.1B |
| Total Assets | $456.1M | $1.8B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | — | ||
| Q3 25 | $38.6M | $575.8M | ||
| Q2 25 | $53.7M | $558.4M | ||
| Q1 25 | $28.4M | $642.2M | ||
| Q4 24 | $36.0M | $640.7M | ||
| Q3 24 | $111.5M | $606.4M | ||
| Q2 24 | $97.7M | $559.9M | ||
| Q1 24 | $83.9M | $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 | $358.8M | — | ||
| Q3 25 | $371.5M | $1.1B | ||
| Q2 25 | $356.2M | $1.1B | ||
| Q1 25 | $341.4M | $1.1B | ||
| Q4 24 | $331.6M | $1.1B | ||
| Q3 24 | $350.9M | $1.1B | ||
| Q2 24 | $346.0M | $1.0B | ||
| Q1 24 | $340.6M | $1.0B |
| Q4 25 | $456.1M | — | ||
| Q3 25 | $462.6M | $1.8B | ||
| Q2 25 | $471.9M | $1.7B | ||
| Q1 25 | $421.9M | $1.7B | ||
| Q4 24 | $404.7M | $1.7B | ||
| Q3 24 | $422.6M | $1.6B | ||
| Q2 24 | $414.6M | $1.6B | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $50.1M |
| Free Cash FlowOCF − Capex | $-2.2M | $25.2M |
| FCF MarginFCF / Revenue | -1.4% | 12.0% |
| Capex IntensityCapex / Revenue | 0.9% | 11.8% |
| Cash ConversionOCF / Net Profit | -0.09× | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | — | ||
| Q3 25 | $-17.0M | $50.1M | ||
| Q2 25 | $28.5M | $31.5M | ||
| Q1 25 | $-3.3M | $78.5M | ||
| Q4 24 | $19.0M | $68.4M | ||
| Q3 24 | $16.2M | $75.1M | ||
| Q2 24 | $18.8M | $76.5M | ||
| Q1 24 | $1.4M | $41.5M |
| Q4 25 | $-2.2M | — | ||
| Q3 25 | $-18.7M | $25.2M | ||
| Q2 25 | $26.9M | $-29.1M | ||
| Q1 25 | $-5.5M | $43.3M | ||
| Q4 24 | $16.3M | $25.2M | ||
| Q3 24 | $14.5M | $50.7M | ||
| Q2 24 | $15.5M | $56.5M | ||
| Q1 24 | $-580.0K | $-1.8M |
| Q4 25 | -1.4% | — | ||
| Q3 25 | -10.6% | 12.0% | ||
| Q2 25 | 15.0% | -13.8% | ||
| Q1 25 | -3.5% | 20.4% | ||
| Q4 24 | 12.6% | 11.3% | ||
| Q3 24 | 10.8% | 24.0% | ||
| Q2 24 | 10.7% | 26.0% | ||
| Q1 24 | -0.5% | -0.8% |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.0% | 11.8% | ||
| Q2 25 | 0.9% | 28.7% | ||
| Q1 25 | 1.4% | 16.6% | ||
| Q4 24 | 2.1% | 19.4% | ||
| Q3 24 | 1.3% | 11.6% | ||
| Q2 24 | 2.2% | 9.2% | ||
| Q1 24 | 1.5% | 20.0% |
| Q4 25 | -0.09× | — | ||
| Q3 25 | -1.17× | 2.19× | ||
| Q2 25 | 1.88× | 3.55× | ||
| Q1 25 | -0.32× | 1.83× | ||
| Q4 24 | 17.56× | 2.02× | ||
| Q3 24 | 3.48× | 2.18× | ||
| Q2 24 | 2.86× | 2.11× | ||
| Q1 24 | 0.20× | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
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% |
