Vishay Intertechnology (VSH)
NYSE:VSH
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Vishay Intertechnology
(NYSE:VSH)
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Rating:50Neutral
Price Target:
$34.00
▲(31.17% Upside)
Action:Reiterated
Date:05/13/26
The score is held back primarily by weak financial performance—especially negative free cash flow and compressed profitability—plus an unfavorable valuation with an extremely high P/E. These are partially offset by strong technical momentum and an earnings call that highlighted improving demand/backlog and margin progress, though management’s expectation of negative 2026 free cash flow limits the upside.
Positive Factors
Diversified product and end‑market exposure
A broad portfolio of discrete semiconductors and passive components sold into industrial, automotive, consumer, compute, telecom and medical creates durable revenue diversification. Multi‑end‑market exposure reduces reliance on any single cycle and supports steadier demand across technology transitions.
Negative Factors
Negative free cash flow and heavy near‑term CapEx
Sustained negative FCF and a large 2026 capex program materially constrain internal funding. Over multiple quarters this reduces discretionary returns, forces external financing or revolver draws, and heightens execution risk if demand or margin improvements lag the ramp schedule.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified product and end‑market exposure
A broad portfolio of discrete semiconductors and passive components sold into industrial, automotive, consumer, compute, telecom and medical creates durable revenue diversification. Multi‑end‑market exposure reduces reliance on any single cycle and supports steadier demand across technology transitions.
Read all positive factors
Vishay Intertechnology (VSH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.58B
Dividend Yield2.67%
Average Volume (3M)1.94M
Price to Earnings (P/E)498.7
Beta (1Y)2.09
Revenue Growth4.48%
EPS Growth71.58%
CountryUS
Employees22,700
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.07
Shares Outstanding124,008,090
10 Day Avg. Volume3,374,472
30 Day Avg. Volume1,939,362
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 Cap1.16
Enterprise Value/Revenue1.73
Enterprise Value/Gross Profit8.94
Enterprise Value/Ebitda18.40
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.54
Revenue Forecast (FY)$3.44B
Vishay Intertechnology Business Overview & Revenue Model
Company Description
Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive electronic components in Asia, Europe, and the Americas. It operates through six segments: Metal Oxide Semiconductor Field Effect Transistors (MOSFETs), Dio...
How the Company Makes Money
Vishay makes money primarily by selling electronic components (semiconductors and passive components) to customers that incorporate these parts into electronic systems. Revenue is generated on a per-unit basis through high-volume, repeat purchases...
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
42
Neutral
Balance Sheet
68
Positive
Cash Flow
36
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.07B | 2.94B | 3.40B | 3.50B | 3.24B |
| Gross Profit | 594.88M | 626.29M | 974.49M | 1.06B | 887.91M |
| EBITDA | 288.90M | 235.74M | 676.91M | 774.63M | 619.18M |
| Net Income | -8.98M | -31.15M | 323.82M | 428.81M | 297.97M |
Balance Sheet | |||||
| Total Assets | 4.23B | 4.11B | 4.24B | 3.87B | 3.54B |
| Cash, Cash Equivalents and Short-Term Investments | 515.23M | 606.42M | 1.01B | 916.10M | 920.85M |
| Total Debt | 1.17B | 1.03B | 947.50M | 634.75M | 579.04M |
| Total Liabilities | 2.15B | 2.08B | 2.04B | 1.82B | 1.80B |
| Stockholders Equity | 2.09B | 2.03B | 2.20B | 2.05B | 1.74B |
Cash Flow | |||||
| Free Cash Flow | -88.98M | -146.38M | 36.29M | 158.98M | 238.73M |
| Operating Cash Flow | 184.31M | 173.70M | 365.70M | 484.29M | 457.10M |
| Investing Cash Flow | -257.93M | -512.46M | -72.85M | -528.93M | -230.48M |
| Financing Cash Flow | -19.66M | -35.40M | 61.06M | -101.02M | -58.81M |
Vishay Intertechnology Technical Analysis
Positive
25.92
Price Trends
19.09
Positive
17.57
Positive
16.53
Positive
Market Momentum
1.86
Negative
80.99
Negative
94.65
Negative
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 above the 20-day moving average (MA) of 20.03, above the 50-day MA of 19.09, and above the 200-day MA of 16.53, indicating a bullish trend. The MACD of 1.86 indicates Negative momentum. The RSI at 80.99 is Negative, neither overbought nor oversold. The STOCH value of 94.65 is Negative, 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $3.95B | 215.30 | 2.44% | 2.27% | 3.11% | -54.05% | |
75 Outperform | $10.29B | 93.47 | 6.68% | ― | 9.60% | 25.63% | |
75 Outperform | $8.68B | 3.54 | 20.24% | 2.22% | 36.05% | 80.83% | |
70 Outperform | $4.75B | 52.38 | 4.50% | ― | 15.97% | 234.66% | |
62 Neutral | $5.13B | 23.85 | 0.37% | 1.77% | 11.16% | 179.18% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
50 Neutral | $4.58B | 498.65 | -0.43% | 2.67% | 4.48% | 71.58% |
* Technology Sector Average
VSH
Vishay Intertechnology
38.50
23.76
161.18%
DIOD
Diodes
101.96
53.24
109.28%
FORM
Formfactor
129.31
96.01
288.32%
KLIC
Kulicke & Soffa
104.27
70.65
210.14%
POWI
Power Integrations
71.15
17.38
32.33%
SIMO
Silicon Motion
269.87
212.69
371.92%
Vishay Intertechnology Corporate Events
Executive/Board Changes
Vishay Intertechnology Updates 2026 Executive Compensation Structure
Neutral
Feb 25, 2026
At a February 25, 2026 meeting, Vishay Intertechnology Inc.’s Compensation Committee set the 2026 base salaries for several senior officers, with amounts ranging from approximately $399,558 to $1,360,000, the latter paid in Israeli shekels t...
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.