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Side-by-side financial comparison of PHOTRONICS INC (PLAB) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $137.5M, roughly 1.5× Terreno Realty Corp). Terreno Realty Corp runs the higher net margin — 115.1% vs 10.9%, a 104.2% gap on every dollar of revenue. On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs -5.5%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% 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.
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
PLAB vs TRNO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $210.4M | $137.5M |
| Net Profit | $22.9M | $158.2M |
| Gross Margin | 33.7% | — |
| Operating Margin | 22.9% | — |
| Net Margin | 10.9% | 115.1% |
| Revenue YoY | -5.5% | 32.6% |
| Net Profit YoY | -32.4% | 107.9% |
| EPS (diluted) | $0.39 | $1.54 |
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 | — | $137.5M | ||
| Q3 25 | $210.4M | $116.2M | ||
| Q2 25 | $211.0M | $112.2M | ||
| Q1 25 | $212.1M | $110.4M | ||
| Q4 24 | $222.6M | $103.7M | ||
| Q3 24 | $211.0M | $99.6M | ||
| Q2 24 | $217.0M | $94.2M | ||
| Q1 24 | $216.3M | $85.0M |
| Q4 25 | — | $158.2M | ||
| Q3 25 | $22.9M | $103.4M | ||
| Q2 25 | $8.9M | $93.3M | ||
| Q1 25 | $42.9M | $48.1M | ||
| Q4 24 | $33.9M | $76.1M | ||
| Q3 24 | $34.4M | $36.6M | ||
| Q2 24 | $36.3M | $35.7M | ||
| Q1 24 | $26.2M | $36.1M |
| 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 | — | — | ||
| Q3 25 | 22.9% | — | ||
| Q2 25 | 26.4% | — | ||
| Q1 25 | 24.6% | — | ||
| Q4 24 | 25.1% | — | ||
| Q3 24 | 24.7% | — | ||
| Q2 24 | 25.8% | — | ||
| Q1 24 | 26.6% | — |
| Q4 25 | — | 115.1% | ||
| Q3 25 | 10.9% | 88.9% | ||
| Q2 25 | 4.2% | 83.1% | ||
| Q1 25 | 20.2% | 43.6% | ||
| Q4 24 | 15.2% | 73.4% | ||
| Q3 24 | 16.3% | 36.8% | ||
| Q2 24 | 16.7% | 37.9% | ||
| Q1 24 | 12.1% | 42.4% |
| Q4 25 | — | $1.54 | ||
| Q3 25 | $0.39 | $1.00 | ||
| Q2 25 | $0.15 | $0.90 | ||
| Q1 25 | $0.68 | $0.47 | ||
| Q4 24 | $0.54 | $0.78 | ||
| Q3 24 | $0.55 | $0.37 | ||
| Q2 24 | $0.58 | $0.37 | ||
| Q1 24 | $0.42 | $0.40 |
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 | $25.0M |
| Total DebtLower is stronger | $16.0K | $943.3M |
| Stockholders' EquityBook value | $1.1B | $4.1B |
| Total Assets | $1.8B | $5.4B |
| Debt / EquityLower = less leverage | 0.00× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $25.0M | ||
| Q3 25 | $575.8M | $26.2M | ||
| Q2 25 | $558.4M | $128.4M | ||
| Q1 25 | $642.2M | $156.5M | ||
| Q4 24 | $640.7M | $18.1M | ||
| Q3 24 | $606.4M | $243.7M | ||
| Q2 24 | $559.9M | $182.0M | ||
| Q1 24 | $521.5M | $649.6M |
| Q4 25 | — | $943.3M | ||
| Q3 25 | $16.0K | $1.0B | ||
| Q2 25 | $19.0K | $742.4M | ||
| Q1 25 | $21.0K | $741.9M | ||
| Q4 24 | $25.0K | $823.4M | ||
| Q3 24 | $28.0K | $672.2M | ||
| Q2 24 | $2.5M | $772.0M | ||
| Q1 24 | $2.7M | $771.8M |
| Q4 25 | — | $4.1B | ||
| Q3 25 | $1.1B | $4.0B | ||
| Q2 25 | $1.1B | $3.9B | ||
| Q1 25 | $1.1B | $3.9B | ||
| Q4 24 | $1.1B | $3.7B | ||
| Q3 24 | $1.1B | $3.6B | ||
| Q2 24 | $1.0B | $3.4B | ||
| Q1 24 | $1.0B | $3.4B |
| Q4 25 | — | $5.4B | ||
| Q3 25 | $1.8B | $5.3B | ||
| Q2 25 | $1.7B | $5.0B | ||
| Q1 25 | $1.7B | $4.9B | ||
| Q4 24 | $1.7B | $4.8B | ||
| Q3 24 | $1.6B | $4.6B | ||
| Q2 24 | $1.6B | $4.5B | ||
| Q1 24 | $1.6B | $4.4B |
| Q4 25 | — | 0.23× | ||
| Q3 25 | 0.00× | 0.26× | ||
| Q2 25 | 0.00× | 0.19× | ||
| Q1 25 | 0.00× | 0.19× | ||
| Q4 24 | 0.00× | 0.22× | ||
| Q3 24 | 0.00× | 0.19× | ||
| Q2 24 | 0.00× | 0.22× | ||
| Q1 24 | 0.00× | 0.22× |
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 | $271.9M |
| Free Cash FlowOCF − Capex | $25.2M | — |
| FCF MarginFCF / Revenue | 12.0% | — |
| Capex IntensityCapex / Revenue | 11.8% | — |
| Cash ConversionOCF / Net Profit | 2.19× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $64.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $271.9M | ||
| Q3 25 | $50.1M | $79.5M | ||
| Q2 25 | $31.5M | $60.6M | ||
| Q1 25 | $78.5M | $61.4M | ||
| Q4 24 | $68.4M | $232.7M | ||
| Q3 24 | $75.1M | $70.0M | ||
| Q2 24 | $76.5M | $64.3M | ||
| Q1 24 | $41.5M | $47.0M |
| 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 | — | 1.72× | ||
| Q3 25 | 2.19× | 0.77× | ||
| Q2 25 | 3.55× | 0.65× | ||
| Q1 25 | 1.83× | 1.28× | ||
| Q4 24 | 2.02× | 3.06× | ||
| Q3 24 | 2.18× | 1.91× | ||
| Q2 24 | 2.11× | 1.80× | ||
| Q1 24 | 1.59× | 1.30× |
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% |
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
