Vishay Intertechnology makes discrete semiconductors and passive electronic components that control, convert, sense and store electrical power and signals. Automotive and industrial customers are its largest end markets.
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A snapshot of what VISHAY INTERTECHNOLOGY INC owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000103730-24-000034 | Feb 16, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000103730-25-000017 | Feb 14, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250000103730-26-000019 | Feb 13, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Vishay’s recovery strengthened in the second quarter ended July 4, 2026: revenue reached $888.6 million and net earnings $28.1 million, compared with $762.3 million and $2.0 million a year earlier. Management attributed improvement to stronger demand, volume, pricing and manufacturing efficiency, although some product lines still faced margin pressure. Cash generation improved, but first-half capital spending exceeded operating cash flow. The much larger cash balance principally came from a completed $830.3 million equity raise, not retained operating cash. That financing supported subsequent revolver repayment, but expansion spending and potential cash settlement of convertible-note principal remain important demands. Management’s August 5 outlook anticipated further improvement; it was a forecast, not evidence of achieved third-quarter results.
Sources: 10-Q · 2026-07-04 · EX-99.1 · 2026-08-05
Vishay operates six product segments: MOSFETs, Diodes, Optoelectronic Components, Resistors, Inductors and Capacitors. Certified products accounted for 48% of 2025 revenue and customer-specific products another 26%. Qualification requirements provide differentiation, but do not remove pricing or demand risk. Products reach customers through distributors, original-equipment manufacturers and electronics manufacturing services companies. Distributor sales are recognized when distributors take control, not when end users consume the components; channel inventory and estimated credits therefore matter to revenue quality.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-07-04
The August 5, 2026 filings report second-quarter GAAP operating income of $53.5 million, versus $22.1 million a year earlier. Management said volume, pricing and manufacturing efficiencies outweighed materials inflation and unfavorable currency effects. MOSFETs returned to positive segment operating income, while Resistors and Optoelectronics still had lower year-over-year gross margins. Segment earnings exclude corporate costs and are not consolidated operating profit.
A $30.008 million tariff refund reduced revenue and cost of products sold equally, leaving profit dollars unchanged. Consequently, reported gross margin of 23.3% exceeded company-adjusted margin of 22.6% because the GAAP revenue denominator was smaller—not because the refund created extra profit. Adjusted revenue was $918.6 million. The prior-year quarter also included an $11.293 million Newport-related contingency benefit; excluding it, the company reported an adjusted loss of $9.3 million rather than GAAP earnings of $2.0 million.
First-half revenue was $1,727.8 million and net earnings $35.3 million, versus $1,477.5 million and a $2.1 million loss. The 2026 half, January 1–July 4, had six more calendar days than the January 1–June 28, 2025 comparison; both second quarters covered 13 weeks. Taxes absorbed a smaller proportion of pretax income, although tax expense increased. Second-quarter diluted EPS was $0.19: equity awards and convertible notes enlarged the denominator, and the July 1 share issuance had only a few days’ weight. The August EPS sensitivity table is a conditional share-count illustration, not an earnings forecast.
Sources: 10-Q · 2026-07-04 · EX-99.1 · 2026-08-05 · 10-K · 2025-12-31 · 8-K · 2026-08-05
First-half operating cash flow increased to $169.0 million from $7.3 million. Besides earnings improvement, it benefited from receivables sales, tariff refunds and the absence of the prior-year $47.0 million final transition-tax payment. Sold receivables outstanding rose to $140.9 million from $62.2 million at year-end; that balance change is not a complete cash-flow reconciliation. Customer refund-payment timing and the receivables program’s future availability are not established, limiting conclusions about repeatable cash generation.
Capital spending of $205.9 million exceeded first-half operating cash flow. Company-defined non-GAAP free cash—operating cash flow less capital spending plus property-sale proceeds—was negative $36.6 million, despite a positive $10.3 million second quarter. Management planned $400–440 million of 2026 capital expenditure, approximately half for the Itzehoe wafer fab, with spending adjustable to orders and qualification progress. Newport and Itzehoe are long-term investments, not established near-term cash generators. First-half dividends paid were $27.2 million, with no repurchases. The August 12 declaration of another $0.10 per common and Class B share scheduled payment for September 24 to September 10 holders; the supplied evidence does not confirm payment.
Sources: 10-Q · 2026-07-04 · 10-K · 2025-12-31 · 8-K · 2026-08-12
The June 29 offering, initially described conditionally in the July 1 filing, completed July 1: 17.25 million shares at $50 generated $830.250 million net proceeds. This was one transaction, not separate expected and completed financings. At July 4, cash was $1,297.3 million, short-term investments $5.3 million and borrowing principal $988 million; debt carrying value was $972.3 million, excluding leases. The company subsequently reported fully repaying the $238 million revolver during the third quarter. No corresponding post-repayment cash balance is supplied.
The $750 million of 2.25% notes mature in September 2030, but holders could elect conversion July 6–October 3, 2026. Principal must be settled in cash; excess conversion value can be cash or shares. This explains the $737.7 million current carrying classification, not a default or accelerated maturity. Actual conversions, settlements and eligibility after October 3 are not established. Capped calls do not eliminate all dilution or cash risk. July 4 reported covenant compliance and approximately $423 million usable revolver capacity were date-specific, conditional disclosures—not cash or independently verified current borrowing headroom. Foreign-cash access and repatriation taxes, leases and retirement obligations also constrain flexibility.
Sources: 8-K · 2026-06-29 · 10-Q · 2026-07-04 · 8-K · 2026-07-06 · 8-K · 2026-08-05 · 10-K · 2025-12-31
At July 4, backlog was $1,877.3 million and book-to-bill 1.32, supporting management’s stronger-demand explanation. Orders can often be canceled or rescheduled without penalty. On August 5, management forecast third-quarter revenue of $945–975 million and gross margin of 24.0% ±0.5 percentage points. The outlook was not explicitly labeled GAAP or adjusted and lacked a separate tariff-refund reconciliation. It should not be treated as achieved results or compared mechanically with adjusted historical margins.
Materials inflation, currency movements, changing tariffs, overseas manufacturing disruption—including exposure in Israel—and unsuccessful capacity expansion could offset recovery. Refunds do not establish lasting tariff relief. The annual report recorded $14.5 million of environmental liabilities and continuing Hicksville groundwater litigation; management did not expect a material adverse effect, but neither maximum exposure nor final resolution was established. The subsequent report’s absence of material legal developments does not mean there is no litigation.
Class B shares held approximately 49.5% of voting power at December 31, 2025, limiting other shareholders’ influence. The May 18, 2026 approval added 6 million shares to incentive-plan capacity; authorization is not issuance or realized dilution. Separately, the annual report contains conflicting maximum-versus-minimum leverage-covenant wording. Later reported compliance does not resolve that legal-text inconsistency, so no independently calculated borrowing capacity is asserted.
Sources: 10-Q · 2026-07-04 · EX-99.1 · 2026-08-05 · 10-K · 2025-12-31 · 8-K · 2026-05-18
USD 3.069048 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 3.069048 bn | 4.5% |
| 2024 | USD 2.937587 bn | -13.7% |
| 2023 | USD 3.402045 bn | — |
Consolidated annual net revenue.
Sources: 10-K · 2025-12-31
USD -8.978 m
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD -8.978 m | Loss narrowed |
| 2024 | USD -31.15 m | Turned loss-making |
| 2023 | USD 323.82 m | — |
GAAP net earnings or loss after income taxes and noncontrolling interests.
Sources: 10-K · 2025-12-31
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