Vishay Intertechnology Inc
VSH—
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Vishay Intertechnology Inc AI Insights
Informational only. Not investment advice.Snapshot
- FCF TTM is -220.8M despite 102.6M operating cash flow - capex of 323.4M (10.8% of revenue) is consuming all cash generation[Free Cash Flow TTM]
- Trading at 0.95x tangible book (1.82B) with P/S of 0.66x vs industry median 3.0x - deep value or value trap territory[P/B Ratio]
- Revenue down 5.1% 3Y CAGR while industry median grew 0.8% - losing share in cyclical downturn[Total Revenue 3Y Growth]
Watch Triggers
- Free Cash Flow TTM: Turns positive for 2 consecutive quarters — Validates capex cycle completion thesis; current -220.8M is primary concern
- Gross Margin TTM: Rises above 25% — Signals pricing power recovery or mix shift; currently 19.5% vs 41.6% industry median
- Inventory: Declines below 650M without revenue drop — 760M inventory (25% of revenue) - reduction signals demand absorption or write-down risk
Bull Case
Deep discount to tangible assets (P/B 1.09x, P/TBV 0.95x) with 1.18B working capital provides downside protection and optionality on cycle recovery
P/B RatioTangible Book ValueWorking Capital
Asset turnover of 0.71x exceeds industry median 0.58x - operational efficiency intact despite revenue decline, positioned for leverage on recovery
Asset Turnover TTMTotal Revenue TTM
Bear Case
Negative FCF (-220.8M TTM) while paying 13.6M dividends and carrying 1.04B debt (0.5x D/E) - capital allocation unsustainable if downturn persists
Free Cash Flow TTMTotal DebtDividends Paid Per Share TTM
Gross margin 19.5% vs industry median 41.6% - structurally disadvantaged cost position limits pricing power in commoditized passive components
Gross Margin TTMOperating Margin TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Capex cycle peak signals FCF inflection within 12-18 months as capacity investments mature
1-3ylow
- Capex at 10.8% of revenue vs typical 5-6% suggests expansion phase
- PPE of 1.75B (42% of assets) indicates manufacturing buildout
- EBITDA of 220M shows underlying cash generation capacity
Capex TTM -323.4M vs industry median -18.6MOperating cash flow 102.6M positive despite net lossInventory at 760M suggests demand anticipation
Valuation Context
Caveats
VSH Fundamentals
Manufacturing → Computer and Electronic Product Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$5.74B | — | ||
$6.36B | — | ||
0.00 | — | ||
$0 | — | ||
$0.00 | — | ||
0% | — | ||
0% | — | ||
$0 | — | ||
0% | — | ||
Beta 5Y (Monthly) | unknown | — |
VSH Dividend History
50 dividends
2026
$0.200006/18/26$0.1000
03/12/26$0.1000
2025
$0.400012/03/25$0.1000
09/11/25$0.1000
06/18/25$0.1000
03/13/25$0.1000
2024
$0.400012/03/24$0.1000
09/10/24$0.1000
06/13/24$0.1000
03/13/24$0.1000
2023
$0.400012/12/23$0.1000
09/07/23$0.1000
06/15/23$0.1000
03/16/23$0.1000
2022
$0.400011/29/22$0.1000
09/08/22$0.1000
06/16/22$0.1000
03/16/22$0.1000
2021
$0.385012/06/21$0.1000
09/09/21$0.0950
06/17/21$0.0950
03/16/21$0.0950
2020
$0.380012/10/20$0.0950
09/10/20$0.0950
06/11/20$0.0950
03/11/20$0.0950
2019
$0.370012/11/19$0.0950
09/11/19$0.0950
06/12/19$0.0950
03/13/19$0.0850
2018
$0.322512/05/18$0.0850
09/13/18$0.0850
06/12/18$0.0850
03/13/18$0.0675
2017
$0.255012/06/17$0.0675
09/14/17$0.0625
06/13/17$0.0625
03/10/17$0.0625
2016
$0.250012/06/16$0.0625
09/13/16$0.0625
06/13/16$0.0625
03/09/16$0.0625
2015
$0.240012/01/15$0.0600
08/31/15$0.0600
06/09/15$0.0600
03/10/15$0.0600
2014
$0.240011/24/14$0.0600
08/26/14$0.0600
06/10/14$0.0600
02/27/14$0.0600
VSH Stock Splits
No stock splits
VSH SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
05/13/26 | 04/04/26 | 10-Q | |
02/13/26 | 12/31/25 | 10-K | |
11/05/25 | 09/27/25 | 10-Q | |
08/06/25 | 06/28/25 | 10-Q | |
05/07/25 | 03/29/25 | 10-Q | |
02/14/25 | 12/31/24 | 10-K | |
11/06/24 | 09/28/24 | 10-Q | |
08/07/24 | 06/29/24 | 10-Q | |
05/08/24 | 03/30/24 | 10-Q | |
02/16/24 | 12/31/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
08/09/23 | 07/01/23 | 10-Q | |
05/10/23 | 04/01/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
11/02/22 | 10/01/22 | 10-Q | |
08/02/22 | 07/02/22 | 10-Q | |
05/03/22 | 04/02/22 | 10-Q | |
02/23/22 | 12/31/21 | 10-K | |
11/03/21 | 10/02/21 | 10-Q | |
08/10/21 | 07/03/21 | 10-Q | |
05/04/21 | 04/03/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
11/03/20 | 10/03/20 | 10-Q | |
08/04/20 | 07/04/20 | 10-Q | |
05/12/20 | 04/04/20 | 10-Q | |
02/14/20 | 12/31/19 | 10-K | |
10/30/19 | 09/28/19 | 10-Q | |
07/30/19 | 06/29/19 | 10-Q | |
05/09/19 | 03/30/19 | 10-Q | |
02/15/19 | 12/31/18 | 10-K | |
10/30/18 | 09/29/18 | 10-Q | |
08/07/18 | 06/30/18 | 10-Q | |
05/08/18 | 03/31/18 | 10-Q | |
02/16/18 | 12/31/17 | 10-K | |
10/26/17 | 09/30/17 | 10-Q | |
08/03/17 | 06/30/17 | 10-Q | |
05/03/17 | 04/01/17 | 10-Q | |
02/17/17 | 12/31/16 | 10-K | |
11/07/16 | 10/01/16 | 10-Q | |
08/02/16 | 07/02/16 | 10-Q | |
05/03/16 | 04/02/16 | 10-Q | |
02/17/16 | 12/31/15 | 10-K | |
11/03/15 | 10/03/15 | 10-Q | |
08/04/15 | 07/04/15 | 10-Q | |
05/05/15 | 04/04/15 | 10-Q | |
02/19/15 | 12/31/14 | 10-K | |
10/28/14 | 09/27/14 | 10-Q | |
07/29/14 | 06/28/14 | 10-Q | |
05/06/14 | 03/29/14 | 10-Q | |
02/19/14 | 12/31/13 | 10-K | |
10/29/13 | 09/28/13 | 10-Q | |
07/30/13 | 06/29/13 | 10-Q | |
04/30/13 | 03/30/13 | 10-Q | |
02/20/13 | 12/31/12 | 10-K | |
10/30/12 | 09/29/12 | 10-Q | |
07/31/12 | 06/30/12 | 10-Q | |
05/02/12 | 03/31/12 | 10-Q | |
02/23/12 | 12/31/11 | 10-K | |
11/01/11 | 10/01/11 | 10-Q | |
08/02/11 | 07/02/11 | 10-Q | |
05/03/11 | 04/02/11 | 10-Q | |
02/25/11 | 12/31/10 | 10-K | |
11/09/10 | 10/02/10 | 10-Q | |
08/10/10 | 07/03/10 | 10-Q | |
05/11/10 | 04/03/10 | 10-Q | |
02/26/10 | 12/31/09 | 10-K | |
11/03/09 | 09/26/09 | 10-Q | |
08/04/09 | 06/27/09 | 10-Q | |
05/05/09 | 03/28/09 | 10-Q | |
02/26/09 | 12/31/08 | 10-K | |
11/04/08 | 09/30/08 | Unknown | -- |
08/05/08 | 06/30/08 | Unknown | -- |
05/06/08 | 03/30/08 | Unknown | -- |
02/27/08 | 12/31/07 | 5 | |
11/06/07 | 09/30/07 | Unknown | -- |
08/08/07 | 06/30/07 | 10-Q | |
05/08/07 | 03/30/07 | Unknown | -- |
02/27/07 | 12/31/06 | 10-K | |
11/06/06 | 09/30/06 | 10-Q | |
08/08/06 | 06/30/06 | Unknown | -- |
05/09/06 | 03/30/06 | Unknown | -- |
03/08/06 | 12/31/05 | 10-K | |
11/10/05 | 09/30/05 | Unknown | -- |
08/09/05 | 06/30/05 | Unknown | -- |
05/10/05 | 03/30/05 | Unknown | -- |
03/15/05 | 12/31/04 | 10-K | |
11/09/04 | 09/30/04 | Unknown | -- |
08/10/04 | 06/30/04 | Unknown | -- |
05/10/04 | 03/30/04 | Unknown | -- |
03/15/04 | 12/31/03 | 10-K | |
11/14/03 | 09/30/03 | 10-Q | |
08/14/03 | 06/30/03 | 10-Q | |
05/15/03 | 03/30/03 | Unknown | -- |
03/31/03 | 12/31/02 | 10-K | |
11/14/02 | 09/30/02 | 10-Q | |
08/14/02 | 06/30/02 | 10-Q | |
05/15/02 | 03/30/02 | Unknown | -- |
04/01/02 | 12/31/01 | 10-K | |
11/14/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
05/14/01 | 03/30/01 | Unknown | -- |
03/30/01 | 12/31/00 | 10-K | |
11/14/00 | 09/30/00 | 10-Q | |
08/14/00 | 06/30/00 | 10-Q | |
05/15/00 | 03/30/00 | Unknown | -- |