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Side-by-side financial comparison of PHOTRONICS INC (PLAB) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $208.0M, roughly 1.0× VIRTUS INVESTMENT PARTNERS, INC.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs 10.9%, a 5.4% gap on every dollar of revenue. On growth, PHOTRONICS INC posted the faster year-over-year revenue change (-5.5% vs -10.9%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-74.1M). Over the past eight quarters, VIRTUS INVESTMENT PARTNERS, INC.'s revenue compounded faster (-3.2% 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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
PLAB vs VRTS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $210.4M | $208.0M |
| Net Profit | $22.9M | $33.9M |
| Gross Margin | 33.7% | — |
| Operating Margin | 22.9% | 19.1% |
| Net Margin | 10.9% | 16.3% |
| Revenue YoY | -5.5% | -10.9% |
| Net Profit YoY | -32.4% | -14.2% |
| EPS (diluted) | $0.39 | $5.15 |
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 | — | $208.0M | ||
| Q3 25 | $210.4M | $216.4M | ||
| Q2 25 | $211.0M | $210.5M | ||
| Q1 25 | $212.1M | $217.9M | ||
| Q4 24 | $222.6M | $233.5M | ||
| Q3 24 | $211.0M | $227.0M | ||
| Q2 24 | $217.0M | $224.4M | ||
| Q1 24 | $216.3M | $222.0M |
| Q4 25 | — | $33.9M | ||
| Q3 25 | $22.9M | $31.3M | ||
| Q2 25 | $8.9M | $42.7M | ||
| Q1 25 | $42.9M | $28.1M | ||
| Q4 24 | $33.9M | $39.5M | ||
| Q3 24 | $34.4M | $49.1M | ||
| Q2 24 | $36.3M | $26.0M | ||
| Q1 24 | $26.2M | $37.9M |
| 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 | — | 19.1% | ||
| Q3 25 | 22.9% | 21.7% | ||
| Q2 25 | 26.4% | 21.5% | ||
| Q1 25 | 24.6% | 16.8% | ||
| Q4 24 | 25.1% | 21.7% | ||
| Q3 24 | 24.7% | 24.3% | ||
| Q2 24 | 25.8% | 19.7% | ||
| Q1 24 | 26.6% | 14.5% |
| Q4 25 | — | 16.3% | ||
| Q3 25 | 10.9% | 14.5% | ||
| Q2 25 | 4.2% | 20.3% | ||
| Q1 25 | 20.2% | 12.9% | ||
| Q4 24 | 15.2% | 16.9% | ||
| Q3 24 | 16.3% | 21.6% | ||
| Q2 24 | 16.7% | 11.6% | ||
| Q1 24 | 12.1% | 17.1% |
| Q4 25 | — | $5.15 | ||
| Q3 25 | $0.39 | $4.65 | ||
| Q2 25 | $0.15 | $6.12 | ||
| Q1 25 | $0.68 | $4.05 | ||
| Q4 24 | $0.54 | $4.65 | ||
| Q3 24 | $0.55 | $5.71 | ||
| Q2 24 | $0.58 | $2.43 | ||
| Q1 24 | $0.42 | $4.10 |
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 | $390.0M |
| Stockholders' EquityBook value | $1.1B | $934.0M |
| Total Assets | $1.8B | $4.3B |
| Debt / EquityLower = less leverage | 0.00× | 0.42× |
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 | — | $390.0M | ||
| Q3 25 | $16.0K | $390.6M | ||
| Q2 25 | $19.0K | $231.3M | ||
| Q1 25 | $21.0K | $231.7M | ||
| Q4 24 | $25.0K | $232.1M | ||
| Q3 24 | $28.0K | $237.5M | ||
| Q2 24 | $2.5M | $247.6M | ||
| Q1 24 | $2.7M | $253.0M |
| Q4 25 | — | $934.0M | ||
| Q3 25 | $1.1B | $918.7M | ||
| Q2 25 | $1.1B | $896.4M | ||
| Q1 25 | $1.1B | $893.7M | ||
| Q4 24 | $1.1B | $897.5M | ||
| Q3 24 | $1.1B | $889.0M | ||
| Q2 24 | $1.0B | $868.7M | ||
| Q1 24 | $1.0B | $871.7M |
| Q4 25 | — | $4.3B | ||
| Q3 25 | $1.8B | $3.9B | ||
| Q2 25 | $1.7B | $3.7B | ||
| Q1 25 | $1.7B | $3.7B | ||
| Q4 24 | $1.7B | $4.0B | ||
| Q3 24 | $1.6B | $3.6B | ||
| Q2 24 | $1.6B | $3.6B | ||
| Q1 24 | $1.6B | $3.5B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | 0.00× | 0.43× | ||
| Q2 25 | 0.00× | 0.26× | ||
| Q1 25 | 0.00× | 0.26× | ||
| Q4 24 | 0.00× | 0.26× | ||
| Q3 24 | 0.00× | 0.27× | ||
| Q2 24 | 0.00× | 0.29× | ||
| Q1 24 | 0.00× | 0.29× |
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 | $-67.2M |
| Free Cash FlowOCF − Capex | $25.2M | $-74.1M |
| FCF MarginFCF / Revenue | 12.0% | -35.6% |
| Capex IntensityCapex / Revenue | 11.8% | 3.3% |
| Cash ConversionOCF / Net Profit | 2.19× | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | $64.5M | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-67.2M | ||
| Q3 25 | $50.1M | $108.3M | ||
| Q2 25 | $31.5M | $75.8M | ||
| Q1 25 | $78.5M | $-3.8M | ||
| Q4 24 | $68.4M | $1.8M | ||
| Q3 24 | $75.1M | $69.1M | ||
| Q2 24 | $76.5M | $70.0M | ||
| Q1 24 | $41.5M | $-34.5M |
| Q4 25 | — | $-74.1M | ||
| Q3 25 | $25.2M | $106.9M | ||
| Q2 25 | $-29.1M | $74.2M | ||
| Q1 25 | $43.3M | $-6.8M | ||
| Q4 24 | $25.2M | $-3.8M | ||
| Q3 24 | $50.7M | $68.7M | ||
| Q2 24 | $56.5M | $68.6M | ||
| Q1 24 | $-1.8M | $-36.5M |
| Q4 25 | — | -35.6% | ||
| Q3 25 | 12.0% | 49.4% | ||
| Q2 25 | -13.8% | 35.2% | ||
| Q1 25 | 20.4% | -3.1% | ||
| Q4 24 | 11.3% | -1.6% | ||
| Q3 24 | 24.0% | 30.3% | ||
| Q2 24 | 26.0% | 30.6% | ||
| Q1 24 | -0.8% | -16.4% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | 11.8% | 0.7% | ||
| Q2 25 | 28.7% | 0.7% | ||
| Q1 25 | 16.6% | 1.4% | ||
| Q4 24 | 19.4% | 2.4% | ||
| Q3 24 | 11.6% | 0.2% | ||
| Q2 24 | 9.2% | 0.6% | ||
| Q1 24 | 20.0% | 0.9% |
| Q4 25 | — | -1.99× | ||
| Q3 25 | 2.19× | 3.45× | ||
| Q2 25 | 3.55× | 1.77× | ||
| Q1 25 | 1.83× | -0.13× | ||
| Q4 24 | 2.02× | 0.04× | ||
| Q3 24 | 2.18× | 1.41× | ||
| Q2 24 | 2.11× | 2.69× | ||
| Q1 24 | 1.59× | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
