Vishay Intertechnology (VSH) FY2019 results: revenue $2.7 billion, down 12.1% on the year
Vishay Intertechnology Inc. (VSH) reported revenue of $2.7 billion for fiscal 2019, the year ended 31 December 2019, down 12.1% on the year before. Net income was $164 million, down 52.6%, and diluted earnings per share $1.13. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$2.7 billion
-12.1% on the year
FY2012FY2019
Operating margin
9.8%
16.0% a year earlier
FY2012FY2019
Net income
$164 million
-52.6% on the year
FY2012FY2019
Diluted EPS
$1.13
-49.6% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,668
3,035
2,604
-12.1%
Cost of revenue
n/a
n/a
1,904
Gross profit
671
889
703
-24.5%
Gross margin
25.2%
29.3%
27.0%
Research and development
69.8
72.9
67.2
-4.2%
Selling, general and administrative
385
403
368
-4.7%
Operating income
262
485
324
-45.9%
Operating margin
9.8%
16.0%
12.4%
Interest expense
33.7
36.7
27.9
-8.2%
Pre-tax income
226
417
279
-45.7%
Income tax
61.5
70.2
299
-12.4%
Effective tax rate
27.2%
16.9%
107.0%
Net income
164
346
-20.3
-52.6%
Net margin
6.1%
11.4%
-0.8%
Diluted EPS
$1.13
$2.24
-$0.14
-49.6%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
296
259
369
+14.7%
Capital expenditure
157
230
170
-31.9%
Free cash flow
140
28.6
198
+388.7%
Free cash flow margin
5.2%
0.9%
7.6%
Cash from investing
-195
269
-34.8
Cash from financing
-90.0
-576
-77.2
Depreciation and amortisation
164
162
163
+1.6%
Share-based compensation
6.1
4.8
4.4
+26.8%
Buybacks
0.0
0.0
39.9
Dividend per share
$0.37
$0.32
$0.26
+14.7%
Diluted shares, weighted
145m
155m
146m
-6.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,485
1,382
1,428
+7.4%
Non-controlling interest
2.5
2.3
2.0
+11.1%
Redeemable equity
0.2
2.0
252
-91.4%
Debt
499
495
370
+0.9%
Operating lease liabilities
78.5
0.0
n/a
Other liabilities
1,055
1,225
1,406
-13.9%
Total liabilities and equity
3,121
3,106
3,459
+0.5%
Fixed assets
952
969
906
-1.8%
Goodwill
151
147
143
+2.1%
Intangible assets
60.7
65.7
69.8
-7.7%
Cash and equivalents
694
686
748
+1.2%
Receivables
328
397
340
-17.3%
Inventory
432
480
430
-10.0%
Other assets
504
361
823
+39.5%
Total assets
3,121
3,106
3,459
+0.5%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.