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VSH

Vishay Intertechnology, Inc.

VSH

Vishay Intertechnology, Inc. • NYSE
$13.68 ▲ 1.45% (+0.20)
Market Cap $1.85 B
52w High $19.81
52w Low $10.35
Dividend Yield 0.40%
P/E -24.42
Volume 796.04K
Outstanding Shares 135.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $790.64M ▲ $134.712M ▲ $-7.876M ▼ -0.996% ▼ $-0.06 ▼ $78.705M ▼
Q2-2025 $762.25M ▲ $126.565M ▼ $2.004M ▲ 0.263% ▲ $0.015 ▲ $78.835M ▲
Q1-2025 $715.236M ▲ $134.739M ▼ $-4.092M ▲ -0.572% ▲ $-0.03 ▲ $58.335M ▲
Q4-2024 $714.716M ▼ $198.817M ▲ $-66.308M ▼ -9.278% ▼ $-0.49 ▼ $4.251M ▼
Q3-2024 $735.353M $169.159M $-19.299M -2.624% $-0.14 $36.122M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $444.124M ▼ $4.196B ▼ $2.113B ▼ $2.083B ▼
Q2-2025 $479.077M ▼ $4.222B ▲ $2.127B ▼ $2.095B ▲
Q1-2025 $619.599M ▲ $4.2B ▲ $2.168B ▲ $2.032B ▲
Q4-2024 $606.416M ▼ $4.111B ▼ $2.082B ▲ $2.029B ▼
Q3-2024 $657.262M $4.22B $2.047B $2.168B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $2.004M ▲ $-8.791M ▼ $-59.397M ▼ $-78.454M ▼ $-135.542M ▼ $-73.389M ▼
Q1-2025 $-4.092M ▲ $16.098M ▼ $-56.018M ▲ $52.007M ▲ $19.116M ▲ $-45.471M ▲
Q4-2024 $-66.308M ▼ $67.656M ▲ $-159.577M ▼ $48.631M ▲ $-53.485M ▼ $-77.248M ▼
Q3-2024 $-19.299M ▼ $50.565M ▲ $-57.569M ▲ $-27.364M ▼ $-28.96M ▲ $-8.962M ▲
Q2-2024 $23.533M $-24.73M $-71.527M $-26.327M $-123.81M $-87.294M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Capacitors Segment
Capacitors Segment
 $120.00M ▲$120.00M ▲$120.00M ▲$130.00M ▲
Diodes Segment
Diodes Segment
 $140.00M ▲$140.00M ▲$150.00M ▲$150.00M ▲
Inductors Segment
Inductors Segment
 $80.00M ▲$80.00M ▲$100.00M ▲$90.00M ▼
MOSFETS Segment
MOSFETS Segment
 $150.00M ▲$140.00M ▼$150.00M ▲$170.00M ▲
Optoelectronic Components Segment
Optoelectronic Components Segment
 $50.00M ▲$50.00M ▲$50.00M ▲$60.00M ▲
Resistors Segment
Resistors Segment
 $180.00M ▲$180.00M ▲$190.00M ▲$200.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue grew strongly from 2020 through 2022, then softened in 2023 and more noticeably in 2024, which looks like a classic semiconductor down-cycle. Profitability followed the same pattern but more sharply: margins improved nicely in the upturn, then compressed hard as demand and pricing weakened, pushing operating profit close to break-even and net income slightly negative most recently. Overall, this is a business that can be quite profitable in good years but is clearly exposed to cyclical swings and margin pressure when the market slows.

Balance Sheet

Balance Sheet The balance sheet has gradually expanded, with total assets and shareholder equity both trending upward over the last five years. Cash levels have stayed reasonably healthy, though they dipped from last year as the company invested more and navigated weaker conditions. Debt has increased compared with earlier years, but it is supported by a larger equity base, suggesting a still-solid but more leveraged capital structure than before. In short, the company looks financially stable, but with less balance-sheet slack than it had a few years ago.

Cash Flow

Cash Flow Operating cash flow improved through the post‑2020 recovery, then weakened as earnings came under pressure. Free cash flow has turned negative most recently, mainly because the company is spending heavily on capital investments, not because the core business suddenly stopped generating cash. This lines up with its multi‑year growth and capacity expansion plans. The trade-off is clear: near‑term cash is being absorbed by long‑term projects, which can pay off if demand and execution cooperate but reduces financial flexibility in a downturn.

Competitive Edge

Competitive Edge Vishay occupies a strong niche as a broad supplier of both discrete semiconductors and passive components, effectively acting as a “one‑stop shop” for many customers. Its long relationships with automotive, industrial, and other OEMs, plus a reputation for reliable, mission‑critical parts, help anchor its position. Custom and application‑specific products deepen customer dependence and raise switching costs. At the same time, it still operates in a highly competitive, cyclical industry where pricing pressure and rapid technology change are constant challenges, so its advantages help but do not eliminate competitive risk.

Innovation and R&D

Innovation and R&D The company’s innovation strategy is focused on differentiated power and passive components rather than headline‑grabbing chips. Proprietary technologies like IHLP inductors, Power Metal Strip resistors, and advanced rectifier families give it recognized strengths in power efficiency and reliability. A major current push is into silicon carbide devices for electric vehicles and renewable energy, supported by targeted acquisitions and significant capacity investments under its “Vishay 3.0” plan. The opportunity is substantial, but execution risk is meaningful: these projects require large, multi‑year spending and depend on winning design slots in fast‑moving end markets.

Summary

Vishay shows the hallmarks of a mature, cyclical components company: it can generate solid revenue and attractive margins in up-cycles, but recent results highlight vulnerability when demand cools, with both profitability and cash generation coming under strain. The balance sheet remains sound, though more leveraged and more heavily invested than a few years ago, reflecting a deliberate choice to fund growth and modernization. Strategically, its breadth of products, deep customer ties, and emphasis on custom, high‑reliability parts give it a defensible position in a tough industry. Its large bet on silicon carbide and other power‑related innovations could be an important growth driver over time, but it also raises the stakes on execution during what appears to be a weaker part of the cycle.

NEWS

November 25, 2025 · 11:00 AM UTC

Vishay Intertechnology Releases 1500 V 1 Form A Solid-State Relay in 4-Pin SMD-8 Package for 800 V Battery Monitoring Systems

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November 19, 2025 · 4:15 PM UTC

Vishay Intertechnology Declares Quarterly Dividend

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November 19, 2025 · 11:00 AM UTC

Vishay Intertechnology AEC-Q200 Qualified, 30 W Thick Film Power Resistor Offers High Reliability for Automotive Applications

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November 12, 2025 · 11:00 AM UTC

New Vishay Intertechnology Silicon PIN Photodiode Delivers Smaller Size and Enhanced Sensitivity for Biomedical Applications

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November 5, 2025 · 7:15 AM UTC

Vishay Intertechnology Reports Third Quarter 2025 Results

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