Photronics, Inc. logo PLAB - Photronics, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 7
HOLD 2
SELL 2
STRONG
SELL 0
| PRICE TARGET: $51.50 DETAILS
HIGH: $55.00
LOW: $48.00
MEDIAN: $51.50
CONSENSUS: $51.50
UPSIDE: 72.24%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Cyclical & Capital-Intensive 80% confidence

Primary model: Normalized Earnings × Cycle Multiple

Valuation Signal Undervalued Moderate
Trading 32.3% below fair value
Current Price $29.90
Bear Case $35.71 19.4% upside ($35.71 - $29.90) / $29.90 = 19.4% $2.03 × 12x + net cash
Fair Value $44.18 47.8% upside ($44.18 - $29.90) / $29.90 = 47.8% $2.03 × 16x + net cash
Bull Case $52.65 76.1% upside ($52.65 - $29.90) / $29.90 = 76.1% $2.03 × 20x + net cash

Adjust Assumptions

16.0x
2.03$

Key Value Driver

Through-cycle normalized EPS ($2.03)

Implied Market Multiple 14.7x

Plain-Language Summary

Our base-case estimate uses Normalized Earnings × Cycle Multiple. We then blend that result with the average analyst price target of $51.50 from 11 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $44.18 per share.

Warnings

ℹ This company has heavy ongoing investment costs. Valuation shortcuts that ignore those costs can make the stock look cheaper than it really is.

Key Risks

  • Standard 10-year DCF produces unreliable terminal values for cyclicals
  • 'Cheap' P/E at cycle peak is the most common value trap — normalize first
  • Captive finance subsidiaries have different risk profiles from manufacturing