Cacheable. Whether you are talking about
PHP as your templating language,
XSLT, or simply a Smarty-style templating engine, every time the engine reads the template and parses it, it wastes time. The template engine should cache the template to prevent having to reparse the template every iteration.
PHP based template engines are usually already cached by their very nature of being
PHP, but Smarty or
XSLT templating engines need this.