VISHAY INTERTECHNOLOGY (VSH) Company Report

Vishay Intertechnology reported Q3 2025 revenue of $791 million, a 4% sequential increase, with a gross margin of 19.5% and adjusted earnings per share of $0.04.
The company's book-to-bill ratio for Q3 was 0.97, but the October run rate improved to 1.15, driven by orders in automotive, smart grid infrastructure, aerospace defense, and AI-related power requirements.
For Q4 2025, revenue is expected to be $790 million +/- $20 million, with a gross margin of 19.5% +/- 50 basis points, which includes an anticipated 150-175 basis point drag from the Newport facility.
Vishay expects negative free cash flow for 2025 due to $300-$350 million in capacity expansion investments but plans to maintain its dividend.
Management aligns with 2026 consensus estimates of 7% year-on-year revenue growth and 23.6% gross margin, supported by market segments and the expectation that the Newport facility will be margin neutral by the end of Q1 2026.

Nov 5, 2025, 2:00 PM

Vishay Intertechnology Reports Q3 2025 Results, Provides Q4 2025 Guidance, and Positive 2026 Outlook

VSH

Earnings

Guidance Update

New Projects/Investments

Vishay Intertechnology reported Q3 2025 revenue of $791 million, a 4% sequential increase, and adjusted earnings per share of $0.04.
For Q4 2025, revenue is guided to be $790 million ± $20 million, with gross margin expected at 19.5% ± 50 basis points. The Newport facility is projected to be margin neutral by the end of Q1 2026, which would raise gross margin by 1.5%.
The October book-to-bill run rate was 1.15, and management anticipates mid-to-high single-digit revenue growth in 2026 driven by automotive, industrial, aerospace defense, AI, and smart grid infrastructure, aligning with consensus estimates of 7% year-on-year revenue growth.
Year-to-date capital expenditures for 2025 totaled $179 million, with full-year CapEx expected between $300 million-$350 million for capacity expansion. The company plans to maintain its dividend but is not currently repurchasing shares due to U.S. liquidity.

Nov 5, 2025, 2:00 PM

Vishay Intertechnology Reports Q3 2025 Results and Provides Q4 Guidance

VSH

Earnings

Guidance Update

New Projects/Investments

Vishay Intertechnology reported Q3 2025 revenue of $791 million, representing a 4% sequential increase, and adjusted earnings per share of $0.04.
For Q4 2025, the company expects revenues to be $790 million plus or minus $20 million and gross margin to be in the range of 19.5% plus or minus 50 basis points.
The book-to-bill ratio for Q3 2025 was 0.97, with the October run rate improving to 1.15.
Key market segments such as automotive, industrial, medical, and AI-related computing showed revenue growth in Q3, with Asia achieving the greatest growth.
The company continues significant capacity investments, with $179 million invested year-to-date and an expected $300-$350 million for the full year 2025, primarily for expansion projects. Elevated metal prices negatively impacted gross margin, and the Newport facility is expected to be margin neutral by the end of Q1 2026.

Nov 5, 2025, 2:00 PM

Vishay Intertechnology Reports Third Quarter 2025 Results

VSH

Earnings

Guidance Update

Demand Weakening

Vishay Intertechnology reported Q3 2025 revenues of $790.6 million and a GAAP loss per share of $(0.06), with Adjusted EPS of $0.04.
The company's Q3 2025 gross margin was 19.5% and the book-to-bill ratio was 0.97, indicating a slight decline in new orders relative to shipments.
For Q4 2025, management expects revenues in the range of $790 million +/- $20 million and a gross profit margin of 19.5% +/- 50 basis points.

Nov 5, 2025, 12:20 PM

Vishay Intertechnology Reports Third Quarter 2025 Results and Provides Q4 2025 Outlook

VSH

Earnings

Guidance Update

Demand Weakening

Vishay Intertechnology reported revenues of $790.6 million for the fiscal third quarter ended September 27, 2025.
For Q3 2025, the company posted a GAAP loss per share of $(0.06) and Adjusted EPS of $0.04.
The gross margin for the quarter was 19.5%, and the book-to-bill ratio stood at 0.97 with a backlog of 4.4 months.
Management anticipates Q4 2025 revenues in the range of $790 million +/- $20 million and a gross profit margin of 19.5% +/- 50 basis points.