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Side-by-side financial comparison of PHOTRONICS INC (PLAB) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $152.8M, roughly 1.4× Riot Platforms, Inc.). PHOTRONICS INC runs the higher net margin — 10.9% vs -452.0%, a 462.8% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs -5.5%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% 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.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
PLAB vs RIOT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $210.4M | $152.8M |
| Net Profit | $22.9M | $-690.7M |
| Gross Margin | 33.7% | — |
| Operating Margin | 22.9% | -447.9% |
| Net Margin | 10.9% | -452.0% |
| Revenue YoY | -5.5% | 7.2% |
| Net Profit YoY | -32.4% | -606.3% |
| EPS (diluted) | $0.39 | $-1.89 |
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 | — | $152.8M | ||
| Q3 25 | $210.4M | $180.2M | ||
| Q2 25 | $211.0M | $153.0M | ||
| Q1 25 | $212.1M | $161.4M | ||
| Q4 24 | $222.6M | $142.6M | ||
| Q3 24 | $211.0M | $84.8M | ||
| Q2 24 | $217.0M | $70.0M | ||
| Q1 24 | $216.3M | $79.3M |
| Q4 25 | — | $-690.7M | ||
| Q3 25 | $22.9M | $104.5M | ||
| Q2 25 | $8.9M | $219.5M | ||
| Q1 25 | $42.9M | $-296.4M | ||
| Q4 24 | $33.9M | $136.4M | ||
| Q3 24 | $34.4M | $-154.4M | ||
| Q2 24 | $36.3M | $-84.4M | ||
| Q1 24 | $26.2M | $211.8M |
| 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 | — | -447.9% | ||
| Q3 25 | 22.9% | 44.4% | ||
| Q2 25 | 26.4% | — | ||
| Q1 25 | 24.6% | -144.9% | ||
| Q4 24 | 25.1% | — | ||
| Q3 24 | 24.7% | -143.3% | ||
| Q2 24 | 25.8% | -167.2% | ||
| Q1 24 | 26.6% | — |
| Q4 25 | — | -452.0% | ||
| Q3 25 | 10.9% | 58.0% | ||
| Q2 25 | 4.2% | 143.4% | ||
| Q1 25 | 20.2% | -183.6% | ||
| Q4 24 | 15.2% | 95.7% | ||
| Q3 24 | 16.3% | -182.1% | ||
| Q2 24 | 16.7% | -120.6% | ||
| Q1 24 | 12.1% | 267.1% |
| Q4 25 | — | $-1.89 | ||
| Q3 25 | $0.39 | $0.26 | ||
| Q2 25 | $0.15 | $0.58 | ||
| Q1 25 | $0.68 | $-0.90 | ||
| Q4 24 | $0.54 | $0.39 | ||
| Q3 24 | $0.55 | $-0.54 | ||
| Q2 24 | $0.58 | $-0.32 | ||
| Q1 24 | $0.42 | $0.51 |
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 | $233.5M |
| Total DebtLower is stronger | $16.0K | $840.8M |
| Stockholders' EquityBook value | $1.1B | $2.9B |
| Total Assets | $1.8B | $3.9B |
| Debt / EquityLower = less leverage | 0.00× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $233.5M | ||
| Q3 25 | $575.8M | $330.7M | ||
| Q2 25 | $558.4M | $255.4M | ||
| Q1 25 | $642.2M | $163.7M | ||
| Q4 24 | $640.7M | $277.9M | ||
| Q3 24 | $606.4M | $355.7M | ||
| Q2 24 | $559.9M | $481.2M | ||
| Q1 24 | $521.5M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | $16.0K | $5.3M | ||
| Q2 25 | $19.0K | $5.3M | ||
| Q1 25 | $21.0K | $5.3M | ||
| Q4 24 | $25.0K | $584.6M | ||
| Q3 24 | $28.0K | $5.7M | ||
| Q2 24 | $2.5M | — | ||
| Q1 24 | $2.7M | — |
| Q4 25 | — | $2.9B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $1.1B | $3.3B | ||
| Q1 25 | $1.1B | $2.9B | ||
| Q4 24 | $1.1B | $3.1B | ||
| Q3 24 | $1.1B | $2.7B | ||
| Q2 24 | $1.0B | $2.6B | ||
| Q1 24 | $1.0B | $2.5B |
| Q4 25 | — | $3.9B | ||
| Q3 25 | $1.8B | $4.5B | ||
| Q2 25 | $1.7B | $4.3B | ||
| Q1 25 | $1.7B | $3.7B | ||
| Q4 24 | $1.7B | $3.9B | ||
| Q3 24 | $1.6B | $2.9B | ||
| Q2 24 | $1.6B | $2.7B | ||
| Q1 24 | $1.6B | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | 0.00× | 0.00× | ||
| Q2 25 | 0.00× | 0.00× | ||
| Q1 25 | 0.00× | 0.00× | ||
| Q4 24 | 0.00× | 0.19× | ||
| Q3 24 | 0.00× | 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 | $-572.9M |
| Free Cash FlowOCF − Capex | $25.2M | $-774.3M |
| FCF MarginFCF / Revenue | 12.0% | -506.6% |
| Capex IntensityCapex / Revenue | 11.8% | 131.8% |
| Cash ConversionOCF / Net Profit | 2.19× | — |
| TTM Free Cash FlowTrailing 4 quarters | $64.5M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-572.9M | ||
| Q3 25 | $50.1M | $-114.0M | ||
| Q2 25 | $31.5M | $-231.3M | ||
| Q1 25 | $78.5M | $-122.1M | ||
| Q4 24 | $68.4M | $-255.1M | ||
| Q3 24 | $75.1M | $-56.3M | ||
| Q2 24 | $76.5M | $-42.5M | ||
| Q1 24 | $41.5M | $-57.9M |
| Q4 25 | — | $-774.3M | ||
| Q3 25 | $25.2M | $-139.7M | ||
| Q2 25 | $-29.1M | $-291.7M | ||
| Q1 25 | $43.3M | $-154.9M | ||
| Q4 24 | $25.2M | $-495.4M | ||
| Q3 24 | $50.7M | $-127.6M | ||
| Q2 24 | $56.5M | $-96.1M | ||
| Q1 24 | $-1.8M | $-115.2M |
| Q4 25 | — | -506.6% | ||
| Q3 25 | 12.0% | -77.5% | ||
| Q2 25 | -13.8% | -190.7% | ||
| Q1 25 | 20.4% | -96.0% | ||
| Q4 24 | 11.3% | -347.5% | ||
| Q3 24 | 24.0% | -150.5% | ||
| Q2 24 | 26.0% | -137.2% | ||
| Q1 24 | -0.8% | -145.2% |
| Q4 25 | — | 131.8% | ||
| Q3 25 | 11.8% | 14.3% | ||
| Q2 25 | 28.7% | 39.5% | ||
| Q1 25 | 16.6% | 20.4% | ||
| Q4 24 | 19.4% | 168.6% | ||
| Q3 24 | 11.6% | 84.1% | ||
| Q2 24 | 9.2% | 76.5% | ||
| Q1 24 | 20.0% | 72.3% |
| Q4 25 | — | — | ||
| Q3 25 | 2.19× | -1.09× | ||
| Q2 25 | 3.55× | -1.05× | ||
| Q1 25 | 1.83× | — | ||
| Q4 24 | 2.02× | -1.87× | ||
| Q3 24 | 2.18× | — | ||
| Q2 24 | 2.11× | — | ||
| Q1 24 | 1.59× | -0.27× |
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% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
