Vishay Intertechnology (VSH) FY2020 results: revenue $2.5 billion, down 6.2% on the year
Vishay Intertechnology Inc. (VSH) reported revenue of $2.5 billion for fiscal 2020, the year ended 31 December 2020, down 6.2% on the year before. Net income was $123 million, down 25.0%, and diluted earnings per share $0.85. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2021.
Revenue
$2.5 billion
-6.2% on the year
FY2013FY2020
Operating margin
8.4%
9.8% a year earlier
FY2013FY2020
Net income
$123 million
-25.0% on the year
FY2013FY2020
Diluted EPS
$0.85
-24.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,502
2,668
3,035
-6.2%
Gross profit
582
671
889
-13.3%
Gross margin
23.3%
25.2%
29.3%
Research and development
70.9
69.8
72.9
+1.5%
Selling, general and administrative
371
385
403
-3.4%
Operating income
210
262
485
-20.1%
Operating margin
8.4%
9.8%
16.0%
Interest expense
31.6
33.7
36.7
-6.3%
Pre-tax income
158
226
417
-30.0%
Income tax
34.5
61.5
70.2
-43.8%
Effective tax rate
21.8%
27.2%
16.9%
Net income
123
164
346
-25.0%
Net margin
4.9%
6.1%
11.4%
Diluted EPS
$0.85
$1.13
$2.24
-24.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
315
296
259
+6.2%
Capital expenditure
124
157
230
-21.1%
Free cash flow
191
140
28.6
+36.9%
Free cash flow margin
7.6%
5.2%
0.9%
Cash from investing
-192
-195
269
Cash from financing
-209
-90.0
-576
Depreciation and amortisation
166
164
162
+1.1%
Share-based compensation
5.3
6.1
4.8
-13.6%
Buybacks
0.0
0.0
0.0
Dividend per share
$0.38
$0.37
$0.32
+2.7%
Diluted shares, weighted
145m
145m
155m
+0.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,576
1,485
1,382
+6.1%
Non-controlling interest
2.8
2.5
2.3
+10.2%
Redeemable equity
0.2
0.2
2.0
-2.3%
Debt
395
499
495
-20.9%
Operating lease liabilities
86.2
78.5
0.0
+9.8%
Other liabilities
1,094
1,055
1,225
+3.7%
Total liabilities and equity
3,154
3,121
3,106
+1.1%
Fixed assets
943
952
969
-0.9%
Goodwill
158
151
147
+5.0%
Intangible assets
66.8
60.7
65.7
+10.1%
Cash and equivalents
620
694
686
-10.7%
Receivables
339
328
397
+3.2%
Inventory
448
432
480
+3.8%
Other assets
580
504
361
+15.0%
Total assets
3,154
3,121
3,106
+1.1%
10-K for the year ended 31 December 2020, filed 24 February 2021: the filing.