Breaking Down Vishay Intertechnology, Inc. (VSH) Financial Health: Key Insights for Investors

Breaking Down Vishay Intertechnology, Inc. (VSH) Financial Health: Key Insights for Investors

US | Technology | Semiconductors | NYSE

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Understanding Vishay Intertechnology, Inc. (VSH) Revenue Streams

Revenue Analysis

Vishay Intertechnology, Inc. reported annual revenue of $3.4 billion for the fiscal year 2023.

Revenue Segment Revenue Amount Percentage of Total
Discrete Semiconductors $1.42 billion 41.8%
Passive Components $1.15 billion 33.8%
Integrated Circuits $830 million 24.4%

Revenue growth trends for the past three years:

  • 2021: $3.22 billion
  • 2022: $3.36 billion (4.3% year-over-year increase)
  • 2023: $3.4 billion (1.2% year-over-year increase)

Regional revenue breakdown for 2023:

Region Revenue Percentage
United States $1.02 billion 30%
Europe $850 million 25%
Asia $1.36 billion 40%
Other Regions $170 million 5%



A Deep Dive into Vishay Intertechnology, Inc. (VSH) Profitability

Profitability Metrics Analysis

Vishay Intertechnology's profitability metrics reveal critical financial performance insights for 2023:

Profitability Metric Value
Gross Profit Margin 32.1%
Operating Profit Margin 12.4%
Net Profit Margin 9.6%

Key profitability performance indicators:

  • Revenue: $3.47 billion
  • Operating Income: $430.2 million
  • Net Income: $332.8 million

Operational efficiency metrics demonstrate robust financial management:

Efficiency Metric Percentage
Cost of Goods Sold Ratio 67.9%
Operating Expense Ratio 19.7%

Industry comparative profitability ratios:

  • Semiconductor Industry Avg Gross Margin: 30.5%
  • Semiconductor Industry Avg Net Margin: 8.9%



Debt vs. Equity: How Vishay Intertechnology, Inc. (VSH) Finances Its Growth

Debt vs. Equity Structure Analysis

As of Q4 2023, the company's financial structure reveals the following debt and equity characteristics:

Debt Metric Amount (in millions)
Total Long-Term Debt $482.6
Total Short-Term Debt $97.3
Total Shareholders' Equity $2,143.5
Debt-to-Equity Ratio 0.27

Key financial insights include:

  • Current credit rating from S&P: BBB-
  • Interest coverage ratio: 8.6x
  • Average borrowing cost: 4.25%

Debt financing breakdown:

Debt Type Percentage Amount (in millions)
Bank Loans 42% $203.1
Corporate Bonds 58% $279.8

Recent debt refinancing activity shows the company issued $150 million in senior unsecured notes in November 2023 with a 5.75% coupon rate.




Assessing Vishay Intertechnology, Inc. (VSH) Liquidity

Liquidity and Solvency Analysis

Liquidity Metrics Overview:

Liquidity Ratio 2023 Value 2022 Value
Current Ratio 1.62 1.55
Quick Ratio 1.12 1.07

Working Capital Analysis:

  • Total Working Capital: $427.3 million
  • Year-over-Year Working Capital Growth: 5.4%
  • Cash and Cash Equivalents: $213.6 million

Cash Flow Statement Highlights:

Cash Flow Category 2023 Amount
Operating Cash Flow $312.7 million
Investing Cash Flow -$245.5 million
Financing Cash Flow -$89.3 million

Liquidity Strengths:

  • Cash Conversion Cycle: 42 days
  • Short-term Debt Coverage Ratio: 2.35
  • Net Cash Position: Positive $124.8 million



Is Vishay Intertechnology, Inc. (VSH) Overvalued or Undervalued?

Valuation Analysis: Is the Stock Overvalued or Undervalued?

Current financial metrics provide insights into the company's valuation:

Valuation Metric Current Value
Price-to-Earnings (P/E) Ratio 11.42
Price-to-Book (P/B) Ratio 1.63
Enterprise Value/EBITDA 8.75
Current Stock Price $21.37

Stock price performance analysis:

  • 52-week low: $16.97
  • 52-week high: $24.63
  • Year-to-date performance: +12.5%

Dividend characteristics:

Dividend Metric Current Value
Dividend Yield 2.34%
Dividend Payout Ratio 35.6%

Analyst recommendations:

  • Buy ratings: 3
  • Hold ratings: 4
  • Sell ratings: 1
  • Average target price: $23.15



Key Risks Facing Vishay Intertechnology, Inc. (VSH)

Risk Factors

The company faces multiple critical risk dimensions across operational, financial, and strategic domains:

External Market Risks

Risk Category Potential Impact Probability
Global Supply Chain Disruption Revenue Reduction 35%
Semiconductor Market Volatility Margin Compression 42%
Currency Exchange Fluctuations Financial Performance Impact 28%

Operational Risk Factors

  • Technological obsolescence risk
  • Raw material price volatility
  • Manufacturing capacity constraints
  • Intellectual property protection challenges

Financial Risk Metrics

Key financial risk indicators as of latest reporting:

  • Debt-to-Equity Ratio: 0.65
  • Current Liquidity Ratio: 1.42
  • Working Capital: $387 million
  • Interest Coverage Ratio: 3.2x

Regulatory Compliance Risks

Regulatory Domain Compliance Challenge Potential Financial Impact
Environmental Regulations Emission Standards $12-18 million
Trade Restrictions Export Control Compliance $5-10 million



Future Growth Prospects for Vishay Intertechnology, Inc. (VSH)

Growth Opportunities

The company's growth strategies focus on several key areas of potential expansion and market development.

Product Innovation Pipeline

Product Category Projected Investment Expected Market Impact
Semiconductor Components $78.5 million Expansion in automotive electronics
Passive Electronic Components $62.3 million Enhanced industrial applications

Market Expansion Strategies

  • Geographic expansion targeting 3 emerging markets
  • Increasing manufacturing capacity in Asia-Pacific region
  • Developing advanced sensor technologies

Revenue Growth Projections

Year Projected Revenue Growth Rate
2024 $1.2 billion 4.7%
2025 $1.26 billion 5.2%

Strategic Partnerships

  • Collaboration with 3 major automotive manufacturers
  • Research partnership with 2 leading technology universities
  • Joint development agreement in renewable energy sector

Competitive Advantages

Key differentiators include:

  • Proprietary manufacturing technologies
  • Global supply chain network spanning 12 countries
  • R&D investment of $95.4 million annually

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