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Side-by-side financial comparison of PHOTRONICS INC (PLAB) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $184.5M, roughly 1.1× DOUGLAS DYNAMICS, INC). PHOTRONICS INC runs the higher net margin — 10.9% vs 7.0%, a 3.9% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs -5.5%). DOUGLAS DYNAMICS, INC produced more free cash flow last quarter ($92.8M vs $25.2M). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs -3.8%).
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.
General Dynamics Corporation (GD) is an American industrial and technology company based in Reston, Virginia. It is primarily a developer and producer of advanced military equipment of a wide variety, such as nuclear submarines, main battle tanks, and armoured fighting vehicles. It is also the manufacturer of the civilian aviation Gulfstream business jets and a provider of information technology services. The company is the 3rd largest of the top 100 contractors of the U.S. federal government...
PLAB vs PLOW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $210.4M | $184.5M |
| Net Profit | $22.9M | $12.8M |
| Gross Margin | 33.7% | 26.1% |
| Operating Margin | 22.9% | 10.5% |
| Net Margin | 10.9% | 7.0% |
| Revenue YoY | -5.5% | 28.6% |
| Net Profit YoY | -32.4% | 62.3% |
| EPS (diluted) | $0.39 | $0.54 |
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 | — | $184.5M | ||
| Q3 25 | $210.4M | $162.1M | ||
| Q2 25 | $211.0M | $194.3M | ||
| Q1 25 | $212.1M | $115.1M | ||
| Q4 24 | $222.6M | $143.5M | ||
| Q3 24 | $211.0M | $129.4M | ||
| Q2 24 | $217.0M | $199.9M | ||
| Q1 24 | $216.3M | $95.7M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | $22.9M | $8.0M | ||
| Q2 25 | $8.9M | $26.0M | ||
| Q1 25 | $42.9M | $148.0K | ||
| Q4 24 | $33.9M | $7.9M | ||
| Q3 24 | $34.4M | $32.3M | ||
| Q2 24 | $36.3M | $24.3M | ||
| Q1 24 | $26.2M | $-8.4M |
| Q4 25 | — | 26.1% | ||
| Q3 25 | 33.7% | 23.5% | ||
| Q2 25 | 36.9% | 31.0% | ||
| Q1 25 | 35.6% | 24.5% | ||
| Q4 24 | 37.0% | 24.9% | ||
| Q3 24 | 35.6% | 23.9% | ||
| Q2 24 | 36.5% | 30.7% | ||
| Q1 24 | 36.6% | 19.8% |
| Q4 25 | — | 10.5% | ||
| Q3 25 | 22.9% | 8.7% | ||
| Q2 25 | 26.4% | 19.0% | ||
| Q1 25 | 24.6% | 2.8% | ||
| Q4 24 | 25.1% | 9.0% | ||
| Q3 24 | 24.7% | 35.4% | ||
| Q2 24 | 25.8% | 18.2% | ||
| Q1 24 | 26.6% | -6.7% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | 10.9% | 4.9% | ||
| Q2 25 | 4.2% | 13.4% | ||
| Q1 25 | 20.2% | 0.1% | ||
| Q4 24 | 15.2% | 5.5% | ||
| Q3 24 | 16.3% | 24.9% | ||
| Q2 24 | 16.7% | 12.2% | ||
| Q1 24 | 12.1% | -8.7% |
| Q4 25 | — | $0.54 | ||
| Q3 25 | $0.39 | $0.33 | ||
| Q2 25 | $0.15 | $1.09 | ||
| Q1 25 | $0.68 | $0.00 | ||
| Q4 24 | $0.54 | $0.35 | ||
| Q3 24 | $0.55 | $1.36 | ||
| Q2 24 | $0.58 | $1.02 | ||
| Q1 24 | $0.42 | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $575.8M | — |
| Total DebtLower is stronger | $16.0K | $144.0M |
| Stockholders' EquityBook value | $1.1B | $281.4M |
| Total Assets | $1.8B | $626.7M |
| Debt / EquityLower = less leverage | 0.00× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $575.8M | — | ||
| Q2 25 | $558.4M | — | ||
| Q1 25 | $642.2M | — | ||
| Q4 24 | $640.7M | — | ||
| Q3 24 | $606.4M | — | ||
| Q2 24 | $559.9M | — | ||
| Q1 24 | $521.5M | — |
| Q4 25 | — | $144.0M | ||
| Q3 25 | $16.0K | — | ||
| Q2 25 | $19.0K | — | ||
| Q1 25 | $21.0K | — | ||
| Q4 24 | $25.0K | $147.5M | ||
| Q3 24 | $28.0K | — | ||
| Q2 24 | $2.5M | — | ||
| Q1 24 | $2.7M | — |
| Q4 25 | — | $281.4M | ||
| Q3 25 | $1.1B | $275.3M | ||
| Q2 25 | $1.1B | $273.3M | ||
| Q1 25 | $1.1B | $258.9M | ||
| Q4 24 | $1.1B | $264.2M | ||
| Q3 24 | $1.1B | $260.8M | ||
| Q2 24 | $1.0B | $236.7M | ||
| Q1 24 | $1.0B | $217.2M |
| Q4 25 | — | $626.7M | ||
| Q3 25 | $1.8B | $694.9M | ||
| Q2 25 | $1.7B | $671.5M | ||
| Q1 25 | $1.7B | $621.0M | ||
| Q4 24 | $1.7B | $590.0M | ||
| Q3 24 | $1.6B | $665.6M | ||
| Q2 24 | $1.6B | $617.0M | ||
| Q1 24 | $1.6B | $577.1M |
| Q4 25 | — | 0.51× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | 0.56× | ||
| 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 | $50.1M | $95.9M |
| Free Cash FlowOCF − Capex | $25.2M | $92.8M |
| FCF MarginFCF / Revenue | 12.0% | 50.3% |
| Capex IntensityCapex / Revenue | 11.8% | 1.7% |
| Cash ConversionOCF / Net Profit | 2.19× | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | $64.5M | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $95.9M | ||
| Q3 25 | $50.1M | $-8.5M | ||
| Q2 25 | $31.5M | $-11.4M | ||
| Q1 25 | $78.5M | $-1.3M | ||
| Q4 24 | $68.4M | $74.4M | ||
| Q3 24 | $75.1M | $-14.2M | ||
| Q2 24 | $76.5M | $2.5M | ||
| Q1 24 | $41.5M | $-21.6M |
| Q4 25 | — | $92.8M | ||
| Q3 25 | $25.2M | $-11.4M | ||
| Q2 25 | $-29.1M | $-14.3M | ||
| Q1 25 | $43.3M | $-3.5M | ||
| Q4 24 | $25.2M | $70.2M | ||
| Q3 24 | $50.7M | $-15.2M | ||
| Q2 24 | $56.5M | $836.0K | ||
| Q1 24 | $-1.8M | $-22.4M |
| Q4 25 | — | 50.3% | ||
| Q3 25 | 12.0% | -7.1% | ||
| Q2 25 | -13.8% | -7.4% | ||
| Q1 25 | 20.4% | -3.0% | ||
| Q4 24 | 11.3% | 48.9% | ||
| Q3 24 | 24.0% | -11.8% | ||
| Q2 24 | 26.0% | 0.4% | ||
| Q1 24 | -0.8% | -23.4% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | 11.8% | 1.8% | ||
| Q2 25 | 28.7% | 1.5% | ||
| Q1 25 | 16.6% | 1.9% | ||
| Q4 24 | 19.4% | 2.9% | ||
| Q3 24 | 11.6% | 0.8% | ||
| Q2 24 | 9.2% | 0.8% | ||
| Q1 24 | 20.0% | 0.8% |
| Q4 25 | — | 7.47× | ||
| Q3 25 | 2.19× | -1.07× | ||
| Q2 25 | 3.55× | -0.44× | ||
| Q1 25 | 1.83× | -9.03× | ||
| Q4 24 | 2.02× | 9.41× | ||
| Q3 24 | 2.18× | -0.44× | ||
| Q2 24 | 2.11× | 0.10× | ||
| Q1 24 | 1.59× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
