Vishay Precision Group (NYSE: VPG) makes precision sensors, weighing equipment and specialized measurement systems for industrial, semiconductor, aerospace, defense and other applications.
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A snapshot of what Vishay Precision Group, Inc. owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230001487952-24-000006 | Feb 29, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240001487952-25-000014 | Feb 25, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001437749-26-005982 | Feb 27, 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.
VPG’s sales and orders are recovering, but profitability and cash generation have not followed. First-half 2026 revenue reached $168.288 million, versus $146.902 million a year earlier, while the loss attributable to shareholders widened to $2.039 million. Sensors led growth; currency pressure, product mix and higher overhead constrained earnings. An ERP implementation also delayed approximately $3 million of second-quarter shipments, which management expected to complete by year-end. Cash remained above gross revolving debt at July 4, but operations consumed cash and most cash was held outside the United States. Management’s August outlook anticipated stronger annual growth and cost savings; robotics opportunities and backlog conversion remained conditional. The latest supplied developments are dated August 5, 2026, not the October 24 preparation date.
Sources: 10-Q · 2026-07-04 · EX-99.1 · 2026-08-05
VPG earns substantially all revenue from product sales across Sensors, Weighing Solutions and Measurement Systems. Its products range from foil resistors and strain gages to industrial weighing, steel-production measurement and safety-testing systems. Customer design-in commonly takes 12–24 months, requiring development spending before adoption is assured. No customer exceeded 10% of 2025 revenue, although industrial demand remains a shared exposure.
Sensors led first-half 2026 growth. Management linked precision-resistor demand partly to AI-related semiconductor, aerospace and defense applications, without quantifying AI revenue. Demand was less broad than the consolidated order total suggests: second-quarter Sensors book-to-bill was 1.44, while Weighing Solutions and Measurement Systems were below one. The $135.828 million backlog includes released orders scheduled within twelve months, but customers can often cancel or reschedule without penalty.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-07-04
Second-quarter revenue rose 11.7% to $83.936 million, but $2.708 million of prior-year operating income became a $0.294 million operating loss. Gross margin fell to 38.6% from 40.7%, and SG&A increased to $31.960 million from $27.701 million. Management cited adverse currency, mix, delayed shipments and organizational investment. Weighing Solutions improved its margin sequentially through cost reductions and mix, but remained below the prior year.
For January 1–July 4, 2026, revenue was $168.288 million versus $146.902 million for January 1–June 28, 2025; the current period contains six additional calendar days whose contribution was not quantified. Operating income fell to $0.045 million from $2.648 million, and shareholder losses widened to $2.039 million from $0.694 million. A $2.013 million pretax loss received only a $0.020 million tax benefit, with valuation allowances and geographic tax effects limiting a simple tax-rate interpretation.
Adjusted earnings also weakened: first-half adjusted shareholder earnings fell to $1.493 million from a recast $3.552 million. Beginning in 2026, VPG excluded share-based compensation from certain non-GAAP measures and recast comparatives; compensation remains an economic cost. Restructuring has also recurred. The reported adjusted dollar results support deterioration, but unexplained EPS denominators and reconciliation differences prevent treating every adjusted comparison as fully reconciled.
Sources: 10-Q · 2026-07-04 · EX-99.1 · 2026-08-05 · EX-99.1 · 2026-05-12
First-half operating cash flow changed from an $11.211 million inflow to a $0.325 million outflow. Receivables and inventory absorbed cash, partly offset by payables and other current liabilities. Cash capital expenditure increased to $5.046 million from $2.760 million. VPG’s approximately negative $5.1 million adjusted free cash flow deducts cash capex and adds asset-sale proceeds; it is neither profit nor a cash balance. Another $1.544 million of capex was accrued but unpaid, not additional cash spending in the period.
The annual comparison needs an important qualification: 2025’s $17.3 million adjusted free cash flow included $10.932 million of asset-sale proceeds. Operating cash flow less cash capex alone was $6.351 million. The Kent property sale closed July 10, 2025, generated a $5.544 million operating gain, and helped fund an $11 million debt repayment on July 17. The annual report’s approximately $15.6 million 2026 capex expectation is a dated forecast, not incurred spending or reaffirmed August guidance.
Sources: 10-Q · 2026-07-04 · 10-K · 2025-12-31
At July 4, cash was $75.702 million, down from $87.366 million at year-end. A June 30 repayment reduced revolving principal by $5 million to $16 million; its $15.640 million carrying amount deducts financing costs and is not separate debt. Operating lease liabilities were another $23.613 million. Approximately 89% of cash was outside the United States, so consolidated cash does not establish unrestricted domestic funding.
The secured $75 million revolver matures August 15, 2029; a further $25 million increase is conditional. VPG reported covenant compliance at July 4, but actual ratios, thresholds, letter-of-credit usage and usable borrowing headroom are not established here. Undrawn commitments are not cash. Dividends are restricted, and a covenant breach could accelerate repayment. Management’s assessment that resources cover at least twelve months of needs remains forward-looking.
Sources: 10-Q · 2026-07-04
The August 5 release attributed approximately $3 million of delayed steel-systems shipments to supply-chain challenges from a new ERP implementation. Management said those orders remained in backlog and expected shipment by year-end; the amount is not additional reported revenue. A humanoid-robotics vendor nomination followed first-quarter orders and engineering engagement, but establishes neither binding production volumes nor a completed ramp. The customer’s second-half 2026 ramp remained planned.
As of August 5, management expected third-quarter revenue of $84 million–$89 million at constant second-quarter exchange rates, annual organic growth above its previously outlined 8%–10% range, and approximately $6 million of 2026 savings toward a three-year $20 million goal. These were forecasts, not achieved outcomes. Guidance excluded customer tariff refunds that management said would not affect profit; such refunds could alter revenue and margin percentages without changing profit dollars. No IEEPA tariff refunds had been received through July 4.
Sources: EX-99.1 · 2026-05-12 · EX-99.1 · 2026-08-05 · 10-Q · 2026-07-04
Material exposures include Israel-related disruption, currency movements, single-source materials and manufacturing transfers. The ILS 8.4 million Israeli VAT assessment remains under court appeal; management considers liability not probable but cannot predict the outcome or financial impact. The export-control self-disclosure has no established final closure. DSI goodwill also depends on valuation assumptions, with no numerical valuation cushion disclosed.
The May 22 filing reports CFO William Clancy’s May 18 retirement notice, effective December 31, 2026—not a completed departure or named succession. Subject to a release, benefits include salary continuation through June 30, 2028, conditional health coverage, a fiscal-2026 bonus and specified equity treatment; performance awards remain subject to their criteria. May 19 executive agreements also establish incentive opportunities and conditional severance, not guaranteed payouts. Aggregate obligations are unquantified. Class B shares carry ten votes each versus one for common shares, concentrating voting influence.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-07-04 · EX-99.1 · 2026-08-05 · 8-K · 2026-05-18
USD 307.202 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 307.202 m | 0.2% |
| 2024 | USD 306.522 m | -13.7% |
| 2023 | USD 355.048 m | — |
Consolidated net third-party product and related revenue after intercompany eliminations.
Sources: 10-K · 2025-12-31
USD 5.293 m
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 5.293 m | -46.6% |
| 2024 | USD 9.911 m | -61.4% |
| 2023 | USD 25.707 m | — |
Consolidated net earnings after allocating earnings or losses to noncontrolling interests.
Sources: 10-K · 2025-12-31
USD 14.382 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 14.382 m | -27.4% |
| 2024 | USD 19.815 m | -56.8% |
| 2023 | USD 45.893 m | — |
Consolidated operating cash flow under the indirect method; not net earnings.
Sources: 10-K · 2025-12-31
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