Vishay Intertechnology (VSH) FY2025 results: revenue $3.1 billion, up 4.5% on the year
Vishay Intertechnology Inc. (VSH) reported revenue of $3.1 billion for fiscal 2025, the year ended 31 December 2025, up 4.5% on the year before. Net income was -$9 million, and diluted earnings per share $-0.07. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2026.
Revenue
$3.1 billion
+4.5% on the year
FY2018FY2025
Operating margin
1.9%
0.2% a year earlier
FY2018FY2025
Net income
-$9 million
FY2018FY2025
Diluted EPS
-$0.07
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 2 new.
Revenue rose 1.3% sequentially: Fourth-quarter revenue was $800.9 million, against $790.6 million in the third quarter and $714.7 million a year earlier. Management attributed growth to industrial and AI-related power demand.
Full-year loss per diluted share: Full-year revenue was $3,069.0 million, against $2,937.6 million. Diluted loss per share was $(0.07), against $(0.23). Net loss attributable to Vishay stockholders was $(9.0) million.
Book-to-bill rose to 1.20: Book-to-bill was 1.20 for the quarter, against 0.97 in the third quarter. Semiconductors reported 1.27 and passive components 1.13.
Backlog lengthened to 4.9 months: Backlog at quarter end was 4.9 months, against 4.4 months at the end of the third quarter.
Newport weighed on gross margin: Gross margin was 19.6%, against 19.5% in the third quarter and 19.9% a year earlier. The release says Newport had a negative impact of about 130 basis points, against about 150 in the third quarter.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
184
174
366
+6.1%
Capital expenditure
273
320
329
-14.6%
Free cash flow
-89.0
-146
36.3
Free cash flow margin
-2.9%
-5.0%
1.1%
Cash from investing
-258
-512
-72.9
Cash from financing
-19.7
-35.4
61.1
Depreciation and amortisation
225
211
184
+6.7%
Share-based compensation
22.4
20.9
16.5
+6.9%
Buybacks
12.5
50.4
78.7
-75.1%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
136m
137m
140m
-0.9%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
2,088
2,029
2,196
+2.9%
Non-controlling interest
n/a
0.0
4.7
Debt
951
905
818
+5.1%
Operating lease liabilities
95.8
94.2
103
+1.7%
Other liabilities
1,099
1,082
1,118
+1.5%
Total liabilities and equity
4,234
4,111
4,240
+3.0%
Fixed assets
1,673
1,546
1,295
+8.2%
Goodwill
180
179
201
+0.8%
Intangible assets
78.5
87.2
72.3
-10.0%
Cash and equivalents
515
590
973
-12.8%
Receivables
382
402
427
-5.0%
Inventory
759
689
648
+10.1%
Other assets
646
617
625
+4.7%
Total assets
4,234
4,111
4,240
+3.0%
10-K for the year ended 31 December 2025, filed 13 February 2026: the filing.