Vishay Intertechnology, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsVishay Intertechnology is a global manufacturer of discrete semiconductors and passive electronic components, serving automotive, industrial, computing, and other markets.
What they do
Vishay manufactures discrete semiconductors (MOSFETs, diodes, optoelectronic components) and passive components (resistors, inductors, capacitors). These components are used for power control, signal switching, filtering, and other functions across a wide range of end markets. The company operates in six segments: MOSFETs, Diodes, Optoelectronic Components, Resistors, Inductors, and Capacitors.
Revenue drivers
- MOSFETs — Semiconductor segment selling low-voltage power MOSFETs; part of the discrete semiconductor portfolio.
- Diodes and Optoelectronic Components — Semiconductor segments including power rectifiers and infrared components; used in power conversion and control.
- Passive Components (Resistors, Inductors, Capacitors) — Includes power shunts, leaded/thin film SMD resistors, power inductors, wet and polymer tantalum capacitors; used in filtering and energy storage.
Recent performance
For Q2 2026 (ended July 4, 2026), Vishay reported GAAP revenues of $888.6 million, up 9.5% sequentially on an adjusted basis (adjusted revenue $918.6 million). GAAP net income was $0.19 diluted EPS. Book-to-bill was 1.32, with backlog of 6.1 months. Quarterly revenue has risen sequentially from $790.6M in Q3 2025 to $888.6M in Q2 2026. Full-year 2025 revenue was $3.07B with a net loss of -$9.0M.
Strategy
Vishay is executing a 'Think Customer First' strategy, focusing on capacity readiness, growing customer relationships, and driving innovation. The company completed a public offering of 17.25 million shares in July 2026, raising $830.25 million to accelerate growth initiatives and reduce debt. Capital expenditures for 2026 are planned at $400-$440 million, with about half for a 12-inch wafer fab in Itzehoe, Germany. Vishay aims to capitalize on mega trends of e-mobility, sustainability, and connectivity.
Risks
- Cyclical industry — The electronic components industry is highly cyclical; demand can decline unpredictably, reducing gross margins.
- Customer forecast reliance — Decisions are based on customer forecasts; abrupt cancellations could lead to excess inventory and lower selling prices.
- Fixed costs exposure — High fixed costs mean a demand decline would directly pressure margins and operating income.
- Tariff pass-through — GAAP revenues are reduced by tariff refunds passed to customers; this can complicate revenue comparisons.
Outlook
Management expects Q3 2026 revenues between $945 million and $975 million, with a gross margin of 24.0% plus or minus 50 basis points. The company sees strengthening demand across all end markets, channels, and regions, and plans to sustain growth through capacity expansion and strategic investments.