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Side-by-side financial comparison of PHOTRONICS INC (PLAB) and Strategic Education, Inc. (STRA). Click either name above to swap in a different company.
Strategic Education, Inc. is the larger business by last-quarter revenue ($305.9M vs $210.4M, roughly 1.5× PHOTRONICS INC). PHOTRONICS INC runs the higher net margin — 10.9% vs 10.7%, a 0.2% gap on every dollar of revenue. On growth, Strategic Education, Inc. posted the faster year-over-year revenue change (0.8% vs -5.5%). Strategic Education, Inc. produced more free cash flow last quarter ($77.3M vs $25.2M). Over the past eight quarters, Strategic Education, Inc.'s revenue compounded faster (-1.0% 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.
Strategic Education, Inc. (SEI) is an education services holding company and is formerly known as Strayer Education, Inc. The company owns for-profit, online Capella University and Strayer University, as well as non-degree programs schools such as DevMountain, Hackbright Academy, and Sophia Learning.
PLAB vs STRA — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $210.4M | $305.9M |
| Net Profit | $22.9M | $32.8M |
| Gross Margin | 33.7% | — |
| Operating Margin | 22.9% | 13.4% |
| Net Margin | 10.9% | 10.7% |
| Revenue YoY | -5.5% | 0.8% |
| Net Profit YoY | -32.4% | 10.3% |
| EPS (diluted) | $0.39 | $1.48 |
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.
| Q1 26 | — | $305.9M | ||
| Q4 25 | — | $323.2M | ||
| Q3 25 | $210.4M | $319.9M | ||
| Q2 25 | $211.0M | $321.5M | ||
| Q1 25 | $212.1M | $303.6M | ||
| Q4 24 | $222.6M | $311.5M | ||
| Q3 24 | $211.0M | $306.0M | ||
| Q2 24 | $217.0M | $312.3M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | — | $37.9M | ||
| Q3 25 | $22.9M | $26.6M | ||
| Q2 25 | $8.9M | $32.3M | ||
| Q1 25 | $42.9M | $29.7M | ||
| Q4 24 | $33.9M | $25.3M | ||
| Q3 24 | $34.4M | $27.7M | ||
| Q2 24 | $36.3M | $29.9M |
| Q1 26 | — | — | ||
| 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 26 | — | 13.4% | ||
| Q4 25 | — | 16.0% | ||
| Q3 25 | 22.9% | 11.6% | ||
| Q2 25 | 26.4% | 14.2% | ||
| Q1 25 | 24.6% | 13.1% | ||
| Q4 24 | 25.1% | 11.6% | ||
| Q3 24 | 24.7% | 11.9% | ||
| Q2 24 | 25.8% | 13.4% |
| Q1 26 | — | 10.7% | ||
| Q4 25 | — | 11.7% | ||
| Q3 25 | 10.9% | 8.3% | ||
| Q2 25 | 4.2% | 10.1% | ||
| Q1 25 | 20.2% | 9.8% | ||
| Q4 24 | 15.2% | 8.1% | ||
| Q3 24 | 16.3% | 9.1% | ||
| Q2 24 | 16.7% | 9.6% |
| Q1 26 | — | $1.48 | ||
| Q4 25 | — | $1.65 | ||
| Q3 25 | $0.39 | $1.15 | ||
| Q2 25 | $0.15 | $1.37 | ||
| Q1 25 | $0.68 | $1.24 | ||
| Q4 24 | $0.54 | $1.05 | ||
| Q3 24 | $0.55 | $1.15 | ||
| Q2 24 | $0.58 | $1.24 |
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 | $150.3M |
| Total DebtLower is stronger | $16.0K | — |
| Stockholders' EquityBook value | $1.1B | $1.6B |
| Total Assets | $1.8B | $2.1B |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $150.3M | ||
| Q4 25 | — | $148.1M | ||
| Q3 25 | $575.8M | $172.6M | ||
| Q2 25 | $558.4M | $164.9M | ||
| Q1 25 | $642.2M | $182.6M | ||
| Q4 24 | $640.7M | $184.0M | ||
| Q3 24 | $606.4M | $222.1M | ||
| Q2 24 | $559.9M | $256.2M |
| Q1 26 | — | — | ||
| 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 26 | — | $1.6B | ||
| Q4 25 | — | $1.6B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.1B | $1.7B | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $1.0B | $1.7B |
| Q1 26 | — | $2.1B | ||
| Q4 25 | — | $2.0B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.7B | $2.1B | ||
| Q1 25 | $1.7B | $2.1B | ||
| Q4 24 | $1.7B | $2.0B | ||
| Q3 24 | $1.6B | $2.2B | ||
| Q2 24 | $1.6B | $2.2B |
| Q1 26 | — | — | ||
| 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× | — |
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 | $87.4M |
| Free Cash FlowOCF − Capex | $25.2M | $77.3M |
| FCF MarginFCF / Revenue | 12.0% | 25.3% |
| Capex IntensityCapex / Revenue | 11.8% | — |
| Cash ConversionOCF / Net Profit | 2.19× | 2.66× |
| TTM Free Cash FlowTrailing 4 quarters | $64.5M | $173.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $87.4M | ||
| Q4 25 | — | $39.2M | ||
| Q3 25 | $50.1M | $60.1M | ||
| Q2 25 | $31.5M | $31.2M | ||
| Q1 25 | $78.5M | $67.7M | ||
| Q4 24 | $68.4M | $15.9M | ||
| Q3 24 | $75.1M | $51.5M | ||
| Q2 24 | $76.5M | $24.3M |
| Q1 26 | — | $77.3M | ||
| Q4 25 | — | $27.0M | ||
| Q3 25 | $25.2M | $49.3M | ||
| Q2 25 | $-29.1M | $20.4M | ||
| Q1 25 | $43.3M | $57.3M | ||
| Q4 24 | $25.2M | $4.7M | ||
| Q3 24 | $50.7M | $42.1M | ||
| Q2 24 | $56.5M | $13.6M |
| Q1 26 | — | 25.3% | ||
| Q4 25 | — | 8.3% | ||
| Q3 25 | 12.0% | 15.4% | ||
| Q2 25 | -13.8% | 6.3% | ||
| Q1 25 | 20.4% | 18.9% | ||
| Q4 24 | 11.3% | 1.5% | ||
| Q3 24 | 24.0% | 13.8% | ||
| Q2 24 | 26.0% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | 11.8% | 3.4% | ||
| Q2 25 | 28.7% | 3.4% | ||
| Q1 25 | 16.6% | 3.4% | ||
| Q4 24 | 19.4% | 3.6% | ||
| Q3 24 | 11.6% | 3.1% | ||
| Q2 24 | 9.2% | 3.4% |
| Q1 26 | — | 2.66× | ||
| Q4 25 | — | 1.03× | ||
| Q3 25 | 2.19× | 2.26× | ||
| Q2 25 | 3.55× | 0.97× | ||
| Q1 25 | 1.83× | 2.27× | ||
| Q4 24 | 2.02× | 0.63× | ||
| Q3 24 | 2.18× | 1.86× | ||
| Q2 24 | 2.11× | 0.81× |
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% |
STRA
| U.S. Higher Education | $212.6M | 69% |
| Australia/New Zealand | $51.8M | 17% |
| Education Technology Services | $41.5M | 14% |
