Vishay Intertechnology (VSH) FY2018 results: revenue $3.0 billion, up 16.6% on the year
Vishay Intertechnology Inc. (VSH) reported revenue of $3.0 billion for fiscal 2018, the year ended 31 December 2018, up 16.6% on the year before. Net income was $346 million, and diluted earnings per share $2.24. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2019.
Revenue
$3.0 billion
+16.6% on the year
FY2011FY2018
Operating margin
16.0%
12.4% a year earlier
FY2011FY2018
Net income
$346 million
FY2011FY2018
Diluted EPS
$2.24
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,035
2,604
2,317
+16.6%
Cost of revenue
n/a
1,904
1,754
Gross profit
889
703
574
+26.4%
Gross margin
29.3%
27.0%
24.8%
Research and development
72.9
67.2
66.8
+8.5%
Selling, general and administrative
403
368
356
+9.7%
Operating income
485
324
197
+49.7%
Operating margin
16.0%
12.4%
8.5%
Interest expense
36.7
27.9
25.6
+31.7%
Pre-tax income
417
279
94.2
+49.2%
Income tax
70.2
299
44.8
-76.5%
Effective tax rate
16.9%
107.0%
47.6%
Net income
346
-20.3
48.8
Net margin
11.4%
-0.8%
2.1%
Diluted EPS
$2.24
-$0.14
$0.32
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
259
369
297
-29.9%
Capital expenditure
230
170
135
+34.9%
Free cash flow
28.6
198
162
-85.6%
Free cash flow margin
0.9%
7.6%
7.0%
Cash from investing
269
-34.8
n/a
Cash from financing
-576
-77.2
n/a
Depreciation and amortisation
162
163
159
-0.8%
Share-based compensation
4.8
4.4
6.4
+9.6%
Buybacks
0.0
39.9
23.2
Dividend per share
$0.32
$0.26
$0.25
+26.5%
Diluted shares, weighted
155m
146m
151m
+6.2%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,382
1,428
1,566
-3.2%
Non-controlling interest
2.3
2.0
5.4
+12.5%
Redeemable equity
2.0
252
88.7
-99.2%
Debt
495
370
357
+33.5%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
1,225
1,406
1,061
-12.9%
Total liabilities and equity
3,106
3,459
3,078
-10.2%
Fixed assets
969
906
849
+7.0%
Goodwill
147
143
141
+3.3%
Intangible assets
65.7
69.8
84.5
-5.8%
Cash and equivalents
686
748
472
-8.3%
Receivables
397
340
274
+16.8%
Inventory
480
430
381
+11.6%
Other assets
361
823
876
-56.1%
Total assets
3,106
3,459
3,078
-10.2%
10-K for the year ended 31 December 2018, filed 15 February 2019: the filing.