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Side-by-side financial comparison of PHOTRONICS INC (PLAB) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $210.4M, roughly 1.8× PHOTRONICS INC). PHOTRONICS INC runs the higher net margin — 10.9% vs 4.9%, a 6.0% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs -5.5%). Bristow Group Inc. produced more free cash flow last quarter ($47.8M vs $25.2M). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% 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.
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
PLAB vs VTOL — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $210.4M | $377.3M |
| Net Profit | $22.9M | $18.4M |
| Gross Margin | 33.7% | — |
| Operating Margin | 22.9% | 8.5% |
| Net Margin | 10.9% | 4.9% |
| Revenue YoY | -5.5% | 6.7% |
| Net Profit YoY | -32.4% | -42.1% |
| EPS (diluted) | $0.39 | $0.61 |
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 | — | $377.3M | ||
| Q3 25 | $210.4M | $386.3M | ||
| Q2 25 | $211.0M | $376.4M | ||
| Q1 25 | $212.1M | $350.5M | ||
| Q4 24 | $222.6M | $353.5M | ||
| Q3 24 | $211.0M | $365.1M | ||
| Q2 24 | $217.0M | $359.7M | ||
| Q1 24 | $216.3M | $337.1M |
| Q4 25 | — | $18.4M | ||
| Q3 25 | $22.9M | $51.5M | ||
| Q2 25 | $8.9M | $31.7M | ||
| Q1 25 | $42.9M | $27.4M | ||
| Q4 24 | $33.9M | $31.8M | ||
| Q3 24 | $34.4M | $28.2M | ||
| Q2 24 | $36.3M | $28.2M | ||
| Q1 24 | $26.2M | $6.6M |
| 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 | — | 8.5% | ||
| Q3 25 | 22.9% | 13.1% | ||
| Q2 25 | 26.4% | 11.3% | ||
| Q1 25 | 24.6% | 9.6% | ||
| Q4 24 | 25.1% | 9.0% | ||
| Q3 24 | 24.7% | 9.1% | ||
| Q2 24 | 25.8% | 12.4% | ||
| Q1 24 | 26.6% | 6.8% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | 10.9% | 13.3% | ||
| Q2 25 | 4.2% | 8.4% | ||
| Q1 25 | 20.2% | 7.8% | ||
| Q4 24 | 15.2% | 9.0% | ||
| Q3 24 | 16.3% | 7.7% | ||
| Q2 24 | 16.7% | 7.8% | ||
| Q1 24 | 12.1% | 2.0% |
| Q4 25 | — | $0.61 | ||
| Q3 25 | $0.39 | $1.72 | ||
| Q2 25 | $0.15 | $1.07 | ||
| Q1 25 | $0.68 | $0.92 | ||
| Q4 24 | $0.54 | $1.07 | ||
| Q3 24 | $0.55 | $0.95 | ||
| Q2 24 | $0.58 | $0.96 | ||
| Q1 24 | $0.42 | $0.23 |
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 | $286.2M |
| Total DebtLower is stronger | $16.0K | $671.5M |
| Stockholders' EquityBook value | $1.1B | $1.1B |
| Total Assets | $1.8B | $2.3B |
| Debt / EquityLower = less leverage | 0.00× | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $286.2M | ||
| Q3 25 | $575.8M | $245.5M | ||
| Q2 25 | $558.4M | $251.8M | ||
| Q1 25 | $642.2M | $191.1M | ||
| Q4 24 | $640.7M | $247.5M | ||
| Q3 24 | $606.4M | $200.3M | ||
| Q2 24 | $559.9M | $178.6M | ||
| Q1 24 | $521.5M | $140.6M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | $16.0K | $675.0M | ||
| Q2 25 | $19.0K | $705.2M | ||
| Q1 25 | $21.0K | $701.9M | ||
| Q4 24 | $25.0K | $689.8M | ||
| Q3 24 | $28.0K | $629.1M | ||
| Q2 24 | $2.5M | $594.2M | ||
| Q1 24 | $2.7M | $544.1M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.1B | $984.4M | ||
| Q1 25 | $1.1B | $931.7M | ||
| Q4 24 | $1.1B | $891.7M | ||
| Q3 24 | $1.1B | $899.2M | ||
| Q2 24 | $1.0B | $849.1M | ||
| Q1 24 | $1.0B | $820.7M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $1.8B | $2.3B | ||
| Q2 25 | $1.7B | $2.3B | ||
| Q1 25 | $1.7B | $2.2B | ||
| Q4 24 | $1.7B | $2.1B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.6B | $2.0B | ||
| Q1 24 | $1.6B | $1.9B |
| Q4 25 | — | 0.63× | ||
| Q3 25 | 0.00× | 0.65× | ||
| Q2 25 | 0.00× | 0.72× | ||
| Q1 25 | 0.00× | 0.75× | ||
| Q4 24 | 0.00× | 0.77× | ||
| Q3 24 | 0.00× | 0.70× | ||
| Q2 24 | 0.00× | 0.70× | ||
| Q1 24 | 0.00× | 0.66× |
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 | $76.9M |
| Free Cash FlowOCF − Capex | $25.2M | $47.8M |
| FCF MarginFCF / Revenue | 12.0% | 12.7% |
| Capex IntensityCapex / Revenue | 11.8% | 7.7% |
| Cash ConversionOCF / Net Profit | 2.19× | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | $64.5M | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $76.9M | ||
| Q3 25 | $50.1M | $23.1M | ||
| Q2 25 | $31.5M | $99.0M | ||
| Q1 25 | $78.5M | $-603.0K | ||
| Q4 24 | $68.4M | $51.1M | ||
| Q3 24 | $75.1M | $66.0M | ||
| Q2 24 | $76.5M | $33.7M | ||
| Q1 24 | $41.5M | $26.7M |
| Q4 25 | — | $47.8M | ||
| Q3 25 | $25.2M | $-6.2M | ||
| Q2 25 | $-29.1M | $67.4M | ||
| Q1 25 | $43.3M | $-52.7M | ||
| Q4 24 | $25.2M | $-32.4M | ||
| Q3 24 | $50.7M | $9.0M | ||
| Q2 24 | $56.5M | $-16.7M | ||
| Q1 24 | $-1.8M | $-37.9M |
| Q4 25 | — | 12.7% | ||
| Q3 25 | 12.0% | -1.6% | ||
| Q2 25 | -13.8% | 17.9% | ||
| Q1 25 | 20.4% | -15.0% | ||
| Q4 24 | 11.3% | -9.2% | ||
| Q3 24 | 24.0% | 2.5% | ||
| Q2 24 | 26.0% | -4.6% | ||
| Q1 24 | -0.8% | -11.2% |
| Q4 25 | — | 7.7% | ||
| Q3 25 | 11.8% | 7.6% | ||
| Q2 25 | 28.7% | 8.4% | ||
| Q1 25 | 16.6% | 14.9% | ||
| Q4 24 | 19.4% | 23.6% | ||
| Q3 24 | 11.6% | 15.6% | ||
| Q2 24 | 9.2% | 14.0% | ||
| Q1 24 | 20.0% | 19.2% |
| Q4 25 | — | 4.17× | ||
| Q3 25 | 2.19× | 0.45× | ||
| Q2 25 | 3.55× | 3.12× | ||
| Q1 25 | 1.83× | -0.02× | ||
| Q4 24 | 2.02× | 1.61× | ||
| Q3 24 | 2.18× | 2.34× | ||
| Q2 24 | 2.11× | 1.20× | ||
| Q1 24 | 1.59× | 4.04× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
