Vishay (VSH)
NYSE:VSH
Want to see VSH full AI Analyst Report?
Top Page
Vishay Intertechnology
(NYSE:VSH)
Select Model
Select Model
Rating:49Neutral
Price Target:
$54.00
▲(108.33% Upside)
Action:Reiterated
Date:06/03/26
The score is held back primarily by weak current fundamentals (near-breakeven profitability and negative free cash flow) and an extremely high P/E. Technicals show a strong uptrend but are very overbought, raising near-term risk. The earnings call supports improving demand and margins, but management’s expectation of negative 2026 free cash flow due to heavy CapEx limits the overall rating.
Positive Factors
Diversified product portfolio and end-market exposure
Vishay sells both passives and discrete semiconductors into many end markets (industrial, automotive, aerospace, healthcare). This diversification reduces single-market cyclicality and supports more stable multi-month revenue streams as different end markets cycle independently.
Negative Factors
Negative free cash flow amid heavy CapEx
Sustained negative FCF driven by large capacity investments constrains financial flexibility and reduces ability to fund buybacks or raise dividends without external financing. Over several months this increases reliance on revolver use and elevates funding and execution risk for fab ramps.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified product portfolio and end-market exposure
Vishay sells both passives and discrete semiconductors into many end markets (industrial, automotive, aerospace, healthcare). This diversification reduces single-market cyclicality and supports more stable multi-month revenue streams as different end markets cycle independently.
Read all positive factors
Vishay Intertechnology (VSH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.08B
Dividend Yield2.67%
Average Volume (3M)7.86M
Price to Earnings (P/E)3546.2
Beta (1Y)2.06
Revenue Growth9.86%
EPS GrowthN/A
CountryUS
Employees22,700
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.01
Shares Outstanding124,008,680
10 Day Avg. Volume10,728,847
30 Day Avg. Volume7,863,147
Financial Highlights & Ratios
PEG Ratio3.07
Price to Book (P/B)0.94
Price to Sales (P/S)0.64
P/FCF Ratio-22.10
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue2.41
Enterprise Value/Gross Profit12.12
Enterprise Value/Ebitda24.74
Forecast
1Y Price Target
$28.00Price Target Upside8.02% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)0.66
Revenue Forecast (FY)$3.55B
Vishay Intertechnology Business Overview & Revenue Model
Company Description
Vishay Intertechnology, Inc. is a global manufacturer and supplier of discrete semiconductors and passive electronic components, serving customers across Asia, Europe, and the Americas. The company organizes its operations across six primary segme...
How the Company Makes Money
Vishay primarily makes money by selling electronic components to OEMs (original equipment manufacturers), contract manufacturers/EMS providers, and distributors. Its revenue is generated from two core product groupings: (1) Passive Components (suc...
Vishay Intertechnology Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed clear operational momentum: revenue beat, broad‑based demand, improving book‑to‑bill and backlog, margin progress, and visible progress on strategic capacity projects (Newport and 12-inch fab). At the same time, significant near‑term financial headwinds remain — negative free cash flow driven by heavy CapEx, elevated tax guidance, working capital build, input cost pressures, and U.S. revolver usage. Management portrays these negatives as temporary tradeoffs tied to purposeful capacity investments to capture an upcycle. Overall the tone is constructive and growth‑oriented but cautious on near‑term cash and margin volatility.Positive Updates
Revenue Beat and Strong Growth
Reported Q1 revenue of $839 million, above guidance ($800M–$830M), up 4.8% sequentially and 17.3% year‑over‑year.
Negative Updates
Negative Free Cash Flow and US Net Borrowing
Q1 free cash flow was negative $47 million. Company ended Q1 with $480 million cash/short‑term investments but remains net‑borrowed in the U.S. with $250 million outstanding on the revolver and expects to continue drawing the revolver to fund U.S. needs.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Beat and Strong Growth
Reported Q1 revenue of $839 million, above guidance ($800M–$830M), up 4.8% sequentially and 17.3% year‑over‑year.
Read all positive updates
Company Guidance
Management guided second-quarter 2026 revenue of $875–$905 million with gross margin targeted at ~22.0% ±50 basis points (noting higher logistics and metals/material costs and some ramp-related inefficiencies); Q2 depreciation of about $54 million (full-year depreciation ~$216 million); SG&A of ~$155 million ± $3 million; and a Q2 GAAP effective tax rate of 40–50%. They reiterated a 2026 CapEx plan of $400–$440 million (about half for the new 12" fab), said they expect negative free cash flow in 2026 due to capacity expansion, and affirmed a policy to return at least 70% of free cash flow to stockholders via dividends and buybacks.Vishay Intertechnology Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
62
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.19B | 3.07B | 2.94B | 3.40B | 3.50B | 3.24B |
| Gross Profit | 635.94M | 594.88M | 626.29M | 974.49M | 1.06B | 887.91M |
| EBITDA | 311.60M | 288.90M | 235.74M | 676.91M | 774.63M | 619.18M |
| Net Income | 2.28M | -8.98M | -31.15M | 323.82M | 428.81M | 297.97M |
Balance Sheet | ||||||
| Total Assets | 4.26B | 4.23B | 4.11B | 4.24B | 3.87B | 3.54B |
| Cash, Cash Equivalents and Short-Term Investments | 479.55M | 515.23M | 606.42M | 1.01B | 916.10M | 920.85M |
| Total Debt | 1.10B | 1.17B | 1.03B | 947.50M | 634.75M | 579.04M |
| Total Liabilities | 2.19B | 2.15B | 2.08B | 2.04B | 1.82B | 1.80B |
| Stockholders Equity | 2.08B | 2.09B | 2.03B | 2.20B | 2.05B | 1.74B |
Cash Flow | ||||||
| Free Cash Flow | -90.51M | -88.98M | -146.38M | 36.29M | 158.98M | 238.73M |
| Operating Cash Flow | 231.88M | 184.31M | 173.70M | 365.70M | 484.29M | 457.10M |
| Investing Cash Flow | -312.04M | -257.93M | -512.46M | -72.85M | -528.93M | -230.48M |
| Financing Cash Flow | -58.14M | -19.66M | -35.40M | 61.06M | -101.02M | -58.81M |
Vishay Intertechnology Technical Analysis
Positive
25.92
Price Trends
37.26
Positive
27.88
Positive
21.53
Positive
Market Momentum
6.69
Positive
68.33
Neutral
40.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VSH, the sentiment is Positive. The current price of 25.92 is below the 20-day moving average (MA) of 51.81, below the 50-day MA of 37.26, and above the 200-day MA of 21.53, indicating a bullish trend. The MACD of 6.69 indicates Positive momentum. The RSI at 68.33 is Neutral, neither overbought nor oversold. The STOCH value of 40.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VSH.
Vishay Intertechnology Risk Analysis
Vishay Intertechnology disclosed 20 risk factors in its most recent earnings report. Vishay Intertechnology reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vishay Intertechnology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $4.37B | 262.03 | 2.44% | 2.27% | 3.11% | -54.05% | |
72 Outperform | $9.41B | 13.89 | 20.24% | 2.22% | 36.05% | 80.83% | |
70 Outperform | $5.00B | 58.38 | 4.54% | ― | 15.97% | 234.66% | |
67 Neutral | $10.85B | 158.52 | 6.68% | ― | 9.60% | 25.63% | |
62 Neutral | $5.92B | 107.56 | 6.59% | 1.77% | 11.16% | 179.18% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | $8.08B | 3,546.25 | 0.11% | 2.67% | 9.86% | ― |
* Technology Sector Average
VSH
Vishay Intertechnology
59.38
44.05
287.45%
DIOD
Diodes
108.75
57.91
113.91%
FORM
Formfactor
139.21
104.33
299.11%
KLIC
Kulicke & Soffa
113.13
78.43
226.02%
POWI
Power Integrations
78.38
22.68
40.73%
SIMO
Silicon Motion
280.49
211.94
309.19%
Vishay Intertechnology Corporate Events
Business Operations and StrategyExecutive/Board ChangesDividendsShareholder Meetings
Vishay Shareholders Expand Incentive Plan and Maintain Dividend
Positive
May 18, 2026
At its May 18, 2026 annual meeting, Vishay Intertechnology shareholders approved an amendment to the company’s 2023 Long-Term Incentive Plan, doubling the shares available for issuance to about 12 million, extending the plan’s term by ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.