Vishay Intertechnology (VSH)
NYSE:VSH
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Vishay Intertechnology
(NYSE:VSH)
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Rating:58Neutral
Price Target:
$27.00
▲(4.17% Upside)
Action:ReiteratedDate:04/18/26
The score is held back most by weakened profitability and negative free cash flow, despite a solid balance sheet buffer. Technicals are a key positive with a strong uptrend, but momentum is overheated, increasing pullback risk. The earnings call supports improving demand and near-term stabilization, though heavy 2026 investment implies continued cash flow pressure; valuation is also less attractive due to losses (negative P/E).
Positive Factors
Diversified product & end-market exposure
A broad product portfolio across discrete semiconductors and passive components sold into diverse end markets (industrial, automotive, telecom, medical) provides durable revenue resilience. Diversification reduces dependence on any single cyclical market and supports repeat design‑win driven revenue over multi‑year product cycles.
Negative Factors
Material margin deterioration
A large decline in gross and operating margins signals either weaker pricing, adverse mix, or under‑absorbed factory costs. Persistently compressed margins limit the company's ability to convert revenue into sustainable profits and increase sensitivity to cost fluctuations over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified product & end-market exposure
A broad product portfolio across discrete semiconductors and passive components sold into diverse end markets (industrial, automotive, telecom, medical) provides durable revenue resilience. Diversification reduces dependence on any single cyclical market and supports repeat design‑win driven revenue over multi‑year product cycles.
Read all positive factors
Vishay Intertechnology (VSH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.23B
Dividend Yield2.67%
Average Volume (3M)1.94M
Price to Earnings (P/E)―
Beta (1Y)1.97
Revenue Growth-0.84%
EPS Growth-189.44%
CountryUS
Employees22,700
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.01
Shares Outstanding123,697,090
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 Cap1.30
Enterprise Value/Revenue1.36
Enterprise Value/Gross Profit7.03
Enterprise Value/Ebitda14.48
Forecast
1Y Price Target
$17.50Price Target Upside-32.48% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)0.51
Revenue Forecast (FY)$3.42B
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:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presents a predominantly constructive operational picture: revenue growth, strong bookings and backlog, product and capacity investments, improved working capital and positive cash generation in the quarter, and meaningful product/technology milestones (Gen3 trench MOSFETs, reference designs). Offsetting risks include margin pressure from the Newport fab and elevated materials costs, higher SG&A, short-term capital intensity leading to expected negative free cash flow in 2026, and some segment/region seasonality. Overall, the company emphasized improving demand momentum and execution under its Vishay 3.0 plan and guided toward sequential revenue growth and near‑term margin stabilization.Positive Updates
Quarterly Revenue Beat and Sequential Growth
Q4 revenue was $801M, slightly above the midpoint guidance of $790M and up ~1.3% sequentially (company commentary; CFO cited +1% sequential). Revenue increased 12% year-over-year, driven by an 11% increase in volume and a favorable FX tailwind (~+3%), partially offset by a ~1% decline in average selling prices.
Negative Updates
Newport Fab Drag on Margins
Newport fab reduced segment gross margin materially: company-level commentary cites ~130 basis points negative impact on gross margin; MOSFET segment impact noted at ~600 bps (improved from 720 bps in Q3). Newport drag expected 50–75 bps in Q1 with neutral/ accretive contribution thereafter.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue Beat and Sequential Growth
Q4 revenue was $801M, slightly above the midpoint guidance of $790M and up ~1.3% sequentially (company commentary; CFO cited +1% sequential). Revenue increased 12% year-over-year, driven by an 11% increase in volume and a favorable FX tailwind (~+3%), partially offset by a ~1% decline in average selling prices.
Read all positive updates
Company Guidance
Management guided Q1 revenue of $800–$830 million with sequential revenue increases expected across its five key growth segments (automotive electronic content, industrial power, healthcare, aerospace & defense, and AI computing), and a gross margin target of 19.9% ±50 bps (including tariffs and higher input costs) with a Newport drag of ~50–75 bps that they expect to be gross‑profit neutral by quarter end and accretive thereafter. They forecast Q1 depreciation of ~$55 million (2026 full‑year depreciation ~$218 million), quarterly SG&A of $153 million ±$2 million (to be maintained each quarter), Q1 tax expense of $2–$4 million, and 2026 CapEx of $400–$440 million (more than half for the 12‑inch fab, largely spent in H1). Finally, they expect negative free cash flow in 2026 due to capacity investments, will continue to draw on US revolver liquidity as needed, and remain committed to returning at least 70% of free cash flow to shareholders.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 | $10.10B | 82.61 | 5.43% | ― | 2.29% | -69.81% | |
73 Outperform | $4.72B | 4.07 | 15.21% | 2.22% | -2.26% | 9.74% | |
71 Outperform | $4.15B | 34.57 | 3.55% | ― | 10.45% | 4.37% | |
67 Neutral | $4.18B | 37.65 | -7.72% | 1.77% | -7.38% | 99.38% | |
64 Neutral | $3.05B | 90.19 | 3.17% | 2.27% | 10.50% | -52.00% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $3.23B | -219.07 | -0.43% | 2.67% | -0.84% | -189.44% |
* Technology Sector Average
VSH
Vishay Intertechnology
25.92
15.13
140.31%
DIOD
Diodes
94.84
59.81
170.74%
FORM
Formfactor
137.21
112.22
449.06%
KLIC
Kulicke & Soffa
81.88
53.00
183.53%
POWI
Power Integrations
58.65
13.28
29.27%
SIMO
Silicon Motion
139.71
101.74
267.94%
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...
Dividends
Vishay Intertechnology Declares Quarterly Cash Dividend for Shareholders
Positive
Feb 12, 2026
On February 12, 2026, Vishay Intertechnology’s board declared a quarterly cash dividend of $0.10 per share on both its common stock and Class B common stock. The dividend will be paid on March 26, 2026, to shareholders of record as of the cl...
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.