Flagship explainer

What drives PHOTRONICS, INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity12%Tax burden62%net income ÷ pretax incomeInterest burden107%pretax ÷ operating incomeOperating margin25%operating income ÷ revenueAsset turnover0.48×revenue ÷ average assetsEquity multiplier1.53×average assets ÷ average equityAs of 2025-10-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
$136MFY2025
Income before tax$222MFY2025
Operating income$208MFY2025
$849MFY2025
Ending assets$1.8BFY2025
Beginning assets$1.7BFY2024
$1.2BFY2025
$1.1BFY2024
Source: · event Oct 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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