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Vishay Intertechnology, Inc.
$4.3B
Market Cap
10.4
P/E
0.68
PEG
-0.8%
ROCE
-0.4%
ROE
0.50
D/E
1.9%
OPM
-52.8%
% from 52W High
92
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for VSH including FX impact
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📈 Price History
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About

Vishay Intertechnology, Inc. manufactures and sells discrete semiconductors and passive electronic components in the United States, Germany, rest of Europe, Israel, and Asia.

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📈 Growth Pattern
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⭐ Superinvestors Holding VSH
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 1.78M $32.0M 0.04% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →
📊 MIXED Vishay Q1 revenue $839M, book-to-bill 1.34, backlog $1.6B
Revenue & Profitability
Q1 2026 revenue was $839M, up 4.8% QoQ and 17.3% YoY. Gross profit was $177M (21.0% margin). GAAP operating margin was 2.6%, EBITDA $78M (9.3% margin). GAAP EPS was $0.05. Book-to-bill was 1.34. Backlog increased to $1.6B.
Outlook
Management sees 2026 as the year for Vishay 3.0 to take off with broad-based demand growth. Book-to-bill of 1.34 indicates strong ordering. Q2 2026 revenue is guided at $875M-$905M and gross margin at 22.0% ±50bps. Industrial and automotive demand is accelerating, and AI-related demand remains strong.
Growth Drivers
Key growth drivers include AI-related applications (MOSFETs and passives), automotive (EVs and hybrids), industrial (smart grid, renewable energy, AI infrastructure), aerospace defense (ramp-up in U.S. and allied countries), and healthcare. Europe led revenue growth at 15.3% QoQ. Market share gains from competitors like Nexperia in automotive.
Balance Sheet & CapEx
CapEx for 2026 is planned at $400M-$440M, with about half for the 12-inch fab in Germany. Q1 CapEx was $111M, including $87M for the 12-inch fab. Equipment installation at the fab is expected to finish in Q2, with non-automotive production starting mid-2027. Additional investments in subcontractors and SiC capacity.
Margins
Gross margin improved to 21.0% in Q1. Q2 guidance is 22.0% ±50bps. SG&A was $154M in Q1 and expected $155M in Q2. Operating margin was 2.6%. EBITDA margin 9.3%. Volumes and pricing are improving margins, but headwinds from metals, logistics, and labor ramp persist. Long-term target is 31% gross margin, but timing delayed.
Key Risks
Risks include tariffs (Liberation Day tariffs impacted timing), geopolitical uncertainties (safety stock build), higher metals and material costs, logistics costs, inefficiencies from ramping up new labor, and elevated effective tax rates at low earnings. The company is in a net borrowing position in the U.S. with $250M drawn on revolver.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Adjusted Q2 revenue grew 20.5% year-over-year to $919 million, with strong demand across all segments, record backlog, and margin expansion supported by price increases and operational improvements. Q3 guidance anticipates continued growth and early achievement of gross margin targets.
Q1 2026 Q1 2026 2026-05-13
Q1 2026 revenue and margins exceeded guidance, driven by broad-based growth and strong order momentum across all segments. Capacity expansion and pricing actions are fueling market share gains, with AI, industrial, and automotive segments leading growth. High CapEx continues, with negative free cash flow expected for 2026.
Q4 2025 Q4 2025 2026-02-04
Fourth quarter revenue grew 12% year-over-year to $801 million, with strong order momentum and a book-to-bill of 1.2. Capacity expansion and new product releases are driving growth, while 2026 guidance anticipates continued revenue increases and peak CapEx in the first half.
Q3 2025 Q3 2025 2025-11-05
Q3 2025 revenue rose 4% sequentially to $791M, led by automotive and industrial growth, with gross margin at 19.5%. Capacity investments and new product launches position the company for continued growth, while guidance for Q4 remains stable amid ongoing cost pressures and dynamic market conditions.
Q2 2025 Q2 2025 2025-08-06
Q2 2025 saw 7% sequential revenue growth to $762M, with all segments and regions contributing. Backlog and book-to-bill remain strong, capacity expansion is on track, and guidance points to continued growth and margin improvement in Q3. AI, smart grid, and automotive drive demand.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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