EARNINGS PER SHARE

12 Months Ended

Oct. 31, 2025

NOTE 15 - EARNINGS PER SHARE

The calculation of basic and diluted earnings per share is presented below.

	Year Ended
	October 31,		October 31,		October 31,
(in thousands, except for per share data)	2025		2024		2023
Net income attributable to Photronics, Inc. shareholders	$	136,405	$	130,688	$	125,485
Weighted-average common shares outstanding (in thousands):
Basic		59,606		61,726		61,139
Effect of dilutive securities:
Share-based payment awards		314		665		616
Potentially dilutive common shares		314		665		616
Weighted-average common shares-Diluted		59,920		62,391		61,755
Earnings per share:
Net Income attributable to Photronics shareholders - Basic	$	2.29	$	2.12	$	2.05
Net Income attributable to Photronics shareholders - Diluted	$	2.28	$	2.09	$	2.03

The table below sets forth the outstanding weighted-average share-based payment awards that were excluded from the calculation of diluted earnings per share because their exercise price exceeded the average market value of the common shares for the period or, under application of the treasury stock method, they were otherwise determined to be antidilutive.

	Year Ended
	October 31, 2025		October 31, 2024		October 31, 2023

Share-based payment awards, in shares		792		371		136
Total potentially dilutive shares excluded		792		371		136