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Electronic components · Technology · Fiscal year ends Dec 31
Vishay Intertechnology reported revenue of $3.1B in the fiscal year ended Dec 2025, up 4.5% from the year before. Operating income was $57M, an operating margin of 1.9%, and net income was −$9M. Operating cash flow of $184M less capital expenditure of $273M left free cash flow of −$89M. Net debt was $436M.
Ranks among the 18 electronic components companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 3,240 | 3,497 | 3,402 | 2,938 | 3,069 |
| Cost of revenue | – | 2,438 | 2,428 | 2,311 | 2,474 |
| Gross profit | 888 | 1,059 | 974 | 626 | 595 |
| Research & development | 77.4 | 81.2 | 99.5 | 120 | 122 |
| Selling, general & admin | 420 | 444 | 488 | 514 | 538 |
| Operating income | 468 | 615 | 486 | 5.6 | 56.9 |
| Interest expense | 17.5 | 17.1 | 25.1 | 27.5 | 38.7 |
| Pre-tax income | 435 | 594 | 467 | −2.4 | 25.5 |
| Income tax | 136 | 163 | 142 | 27.4 | 34.5 |
| Net income | 298 | 429 | 324 | −31.2 | −9.0 |
| Diluted EPS | 2.05 | 2.98 | 2.31 | −0.23 | −0.07 |
| Diluted shares | 145 | 144 | 140 | 137 | 136 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 774 | 611 | 973 | 590 | 515 |
| Receivables | 396 | 416 | 427 | 402 | 382 |
| Inventory | 537 | 619 | 648 | 689 | 759 |
| Current assets | 2,010 | 2,121 | 2,297 | 1,916 | 1,887 |
| Net PP&E | 979 | 1,130 | 1,295 | 1,546 | 1,673 |
| Goodwill | 165 | 201 | 201 | 179 | 180 |
| Total assets | 3,543 | 3,866 | 4,240 | 4,111 | 4,234 |
| Payables | 254 | 189 | 191 | 216 | 215 |
| Deferred revenue | 39.8 | 47.0 | 47.8 | 43.4 | 41.2 |
| Current liabilities | 694 | 726 | 692 | 708 | 720 |
| Short-term debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Long-term debt | 456 | 501 | 818 | 905 | 951 |
| Total liabilities | 1,797 | 1,816 | 2,039 | 2,082 | 2,146 |
| Shareholders' equity | 1,744 | 2,046 | 2,196 | 2,029 | 2,088 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 457 | 484 | 366 | 174 | 184 |
| Capital expenditure | 218 | 325 | 329 | 320 | 273 |
| Free cash flow | 239 | 159 | 36.3 | −146 | −89.0 |
| Depreciation & amortisation | 167 | 164 | 184 | 211 | 225 |
| Stock-based compensation | 6.6 | 6.5 | 16.5 | 20.9 | 22.4 |
| Acquisitions | 20.8 | 50.0 | 13.8 | 216 | 0.0 |
| Share buybacks | 0.0 | 83.0 | 78.7 | 50.4 | 12.5 |
| Dividend per share | 0.39 | 0.40 | 0.40 | 0.40 | 0.40 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 7.9% | −2.7% | −13.7% | 4.5% |
| Operating income growth (YoY) | – | 31.6% | −21.0% | −98.8% | 910.6% |
| EPS growth (YoY) | – | 45.4% | −22.5% | −110.0% | – |
| Gross margin | 27.4% | 30.3% | 28.6% | 21.3% | 19.4% |
| Operating margin | 14.4% | 17.6% | 14.3% | 0.2% | 1.9% |
| Net margin | 9.2% | 12.3% | 9.5% | −1.1% | −0.3% |
| Return on equityBlank when equity is negative | 17.1% | 21.0% | 14.7% | −1.5% | −0.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 16.4% | 19.6% | 13.7% | 0.2% | 1.6% |
| Free cash flow margin | 7.4% | 4.5% | 1.1% | −5.0% | −2.9% |
| Cash conversion (CFO ÷ net income) | 1.53x | 1.13x | 1.13x | −5.58x | −20.5x |
| Receivable days | 45 | 43 | 46 | 50 | 45 |
| Inventory days | 83 | 93 | 97 | 109 | 112 |
| Payable days | 39 | 28 | 29 | 34 | 32 |
| Interest cover | 26.7x | 35.9x | 19.3x | 0.20x | 1.47x |
| Debt ÷ equity | 0.26x | 0.24x | 0.37x | 0.45x | 0.46x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −318 | −110 | −155 | 315 | 436 |
| Current ratio | 2.90x | 2.92x | 3.32x | 2.70x | 2.62x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.