Vishay Intertechnology Inc (VSH)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Whoever buys today bets that the $1.6 billion order book turns into rising prices and double-digit operating margins before the momentum breaks — and accepts a level that institutional buyers paid at 66 times expected 2026 earnings in the offering, with the company itself as the seller. Whoever waits checks three lines in every quarterly report (10-Q): the book-to-bill ratio (does it stay above one?), average selling prices (do they turn positive?), and the operating margin (on its way toward double digits?). An order book can see cancellations, a convertible converts only once — the numbers appear four times a year, free of charge. The decision is yours.
symbol.quality_note
Vishay Intertechnology builds the most inconspicuous parts in electronics: resistors, capacitors, MOSFETs — penny-priced components without which no AI server and no electric car runs. In our in-house Qullamaggie Top Gainers 3M scanner, the stock ranks no. 2 in the U.S. selection: up 231 percent in three months (as of July 18, 2026). We read the annual reports (10-K), the quarterly report (10-Q) as of April 4, 2026, and the latest current reports: an order book that is genuinely turning (book-to-bill 1.34, backlog $1.6 billion) — but also a loss year in 2025, still-falling selling prices, and a company that promptly used the rally to sell new shares at $50. Not investment advice — just the question of who is buying into whom here: you into Vishay, or Vishay into your euphoria.
Read the analysis
Stock Watch
This analysis is as of July 18, 2026. Stock Watch will tell you what's changed at VSH since then.
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Appears in These Scanners
This stock currently matches 22 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 34.20 $ — 42% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
AI Rating
Uses AIVishay Intertechnology fertigt diskrete Halbleiter und passive Bauelemente — KI ist keine eigene Umsatzquelle, sondern wirkt indirekt als Nachfragetreiber der Endmärkte: Der Geschäftsbericht (10-K) 2025 nennt Künstliche Intelligenz neben Fabrikautomation, E-Fahrzeugen und 5G als Basis der erwarteten „höheren Wachstumsraten als im vergangenen Jahrzehnt“ (Item 1 Business und MD&A), verkauft werden aber weiterhin Widerstände, Kondensatoren und MOSFETs. Zugleich belegt der eigene Risikofaktor zu KI-Investitionen (Item 1A), dass Vishay KI-Initiativen einschließlich generativer KI verfolgt und dabei Entwicklungs- und Einsatzrisiken für Effizienz und Produkte sieht — also operative KI-Anstrengungen ohne KI-Umsatz. Nach der Vorrang-Regel (verkauft > bedroht > nutzt > neutral) ist das die Kategorie nutzt: kein KI-Produktumsatz, keine konkrete Bedrohung des Geschäftsmodells durch KI, aber dokumentierte eigene KI-Bemühungen und KI-getriebene Endmarkt-Nachfrage.
View the full file — quotes, sources, reviewed filings
„We are evaluating investments in A.I. initiatives, including generative A.I."
Wir prüfen Investitionen in KI-Initiativen, einschließlich generativer KI.
„There are significant risks involved in developing and deploying A.I., and there can be no assurance that the usage of A.I. will enhance our products or services or be beneficial to our business, including our efficiency or profitability."
Mit der Entwicklung und dem Einsatz von KI sind erhebliche Risiken verbunden, und es gibt keine Gewähr, dass die Nutzung von KI unsere Produkte oder Dienstleistungen verbessert oder unserem Geschäft nützt, einschließlich unserer Effizienz oder Profitabilität.
„Over the next few years, we expect to experience higher growth rates than over the last decade. This expectation is based upon accelerated electrification, such as factory automation, electrical vehicles, A.I., and 5G infrastructure."
In den nächsten Jahren erwarten wir höhere Wachstumsraten als im vergangenen Jahrzehnt. Diese Erwartung stützt sich auf die beschleunigte Elektrifizierung, etwa Fabrikautomation, Elektrofahrzeuge, KI und 5G-Infrastruktur.
Filings Reviewed: 10-Q 2026-05-13 · 10-Q 2025-11-05 · 10-Q 2025-08-06 · 10-Q 2025-05-07 · 10-K 2026-02-13 · 10-K 2025-02-14
Rated on July 18, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 0.6% below the current price.
- Consensus
- Sell
- Analyst Ratings
- 4
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 0.75 | 0.69 – 0.86 | 3,605 | 1,607.8% | 3 |
| 12/31/2027 | 1.54 | 1.12 – 1.84 | 4,036 | 104.3% | 3 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.15 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.49 | -231.90 | 715 | -9.00 | -9.30 | 68 | -77 |
| 2025: Q1 | -0.03 | -113.50 | 715 | -4.20 | -0.60 | 16 | -46 |
| 2025: Q2 | 0.01 | -91.40 | 762 | 2.80 | 0.30 | -9 | -73 |
| 2025: Q3 | -0.06 | – | 791 | 7.50 | -1.00 | 28 | -25 |
| 2025: Q4 | 0.01 | – | 801 | 12.10 | 0.10 | 149 | 55 |
| 2026: Q1 | 0.05 | – | 839 | 17.30 | 0.90 | 64 | -47 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 2,323 | 102 | 49 | 0.32 | 296 | 1,654 | 3,078 |
| 2017 | 2,604 | 312 | -20 | -0.14 | 369 | 1,680 | 3,459 |
| 2018 | 3,035 | 485 | 346 | 2.24 | 259 | 1,384 | 3,106 |
| 2019 | 2,668 | 262 | 164 | 1.13 | 296 | 1,485 | 3,121 |
| 2020 | 2,502 | 210 | 123 | 0.85 | 315 | 1,576 | 3,154 |
| 2021 | 3,240 | 468 | 298 | 2.05 | 457 | 1,744 | 3,543 |
| 2022 | 3,497 | 615 | 429 | 2.98 | 484 | 2,046 | 3,866 |
| 2023 | 3,402 | 486 | 324 | 2.31 | 366 | 2,196 | 4,240 |
| 2024 | 2,938 | 6 | -31 | -0.23 | 174 | 2,029 | 4,111 |
| 2025 | 3,069 | 57 | -9 | -0.07 | 184 | 2,088 | 4,234 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Book-to-bill from 0.97 (Q3 2025) through 1.20 (Q4 2025) to 1.34 in Q1 2026, 1.57 in the MOSFETs segment; backlog up from $1,124.3 million to $1,592.3 million within five quarters (+42 percent); revenue rising four quarters in a row, up 17 percent in Q1 2026 (10-Q as of 04/04/2026).
The 10-K 2025 expects "higher growth rates than over the last decade" on electrification, factory automation, AI and 5G infrastructure; backed in concrete by $400-440 million of 2026 capex, about half for the 12-inch wafer fab in Itzehoe, plus expansions in Newport, Mexico, Taiwan and Turin.
2025 was a loss year (-$9.0 million or -$0.07 per share, after -$31.2 million in 2024); Q1 2026 earned just $7.2 million ($0.05) at a 2.6 percent operating margin; selling prices kept falling (ASP -1.1 percent sequentially) — a volume recovery so far (10-K 2025; 10-Q as of 04/04/2026).
17.25 million new shares sold at $50.00 (net ~$830.3 million; share count +13 percent, 8-K dated 07/01/2026); the $750 million convertible note (conversion price $30.16) has been convertible since 07/06/2026 — cash settlement of principal and capped calls dampen, but do not remove, the overhang (8-K dated 07/06/2026).
Cash of $479.4 million (04/04/2026) plus ~$830.3 million of offering proceeds against $969 million of long-term debt (12/31/2025) and negative Q1 free cash flow (~-$47 million on the capex program); Piotroski 7 of 9, Altman Z around 6.8 — solid, but in investment mode.
About $8.9 billion of market value (07/18/2026) at ~2.8 times revenue with earnings near zero; even the $50.00 offering price equaled 66 times the 2026 and 32 times the 2027 analyst estimate (n=4); Class B shares with ten votes each give the founding family ~35 percent of the votes — a takeover premium is effectively off the table (10-K 2025).
Vishay is the rare momentum case in which the fundamentals genuinely turn: book-to-bill of 1.34, an order book up 42 percent, four growth quarters in a row, and a counter-cyclical investment program funded with $830 million of fresh equity. Against that stand a 2025 loss year, falling selling prices, a 2.6 percent operating margin, a share count diluted by 13 percent plus an armed convertible — and a valuation that already prices the next boom in full. Whoever buys here buys the continuation of the turn at the price of its completion. Not investment advice.
- VSH reached our research list as rank 2 of our in-house Qullamaggie Top Gainers 3M scanner (U.S. selection, as of July 18, 2026) — part of our series on the hits of this momentum scanner.
- Scanner metrics (including +231 percent in three months, average daily range ~10 percent, ~$386 million of daily dollar volume, Piotroski 7/9) carry the July 18, 2026 data cut-off; price anchors are exclusively SEC-documented ($15.96 on June 28, 2025 per the 10-K cover; $50.00 offering price per the 8-K dated July 1, 2026).
- The market value figure (~$8.9 billion) comes from the July 18, 2026 data feed, sanity-checked against ~153 million shares after the offering; analyses are evergreen, daily prices are not a buy argument.
About the Company
Vishay Intertechnology, Inc. fertigt und verkauft diskrete Halbleiter und passive elektronische Komponenten in den USA, Deutschland, dem übrigen Europa, Israel und Asien.
| Employees | 22,600 |
|---|---|
| Headquarters | Malvern, PA |
| Address | 63 Lancaster Avenue, 19355-2143 Malvern, United States |
| Phone | 610 644 1300 |
| Website | vishay.com |
| IPO Date | 4. Jan 1988 |
| ISIN | US9282981086 |
| Stock Split | 3:2 on 06/12/2000 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Marc Zandman | Executive Chairman & Chief Business Development Officer | 1962 |
| Joel Smejkal | President, CEO & Director | 1967 |
| David E. McConnell | Executive VP & CFO | 1967 |
| Roy Shoshani | Executive VP, COO of Semiconductors & CTO | 1974 |
| Peter G. Henrici | Executive VP of Corporate Development & Corporate Secretary | 1956 |
| Rafi Ouzan | Chief Operating Officer | 1966 |
| David L. Tomlinson | Senior VP & Chief Accounting Officer | 1975 |
| Michael O'Sullivan | Executive VP and Chief Administrative & Legal Officer | 1975 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.