Vishay Intertechnology Stock Falls 4% as Q4 Earnings Miss Estimates

Vishay Intertechnology, Inc. VSH shares fell 4.2% on Wednesday after the company reported lower-than-expected bottom-line results for the fourth quarter of 2025. VSH reported fourth-quarter earnings of a penny per share, missing the Zacks Consensus Estimate of 2 cents. This compares favorably with the year-ago quarter’s break-even earnings.

Vishay Intertechnology’s revenues of $800.9 million beat the Zacks Consensus Estimate of $790 million. The top line increased 12.1% on a year-over-year basis.

VSH has a mixed earnings surprise history. The company’s earnings missed the Zacks Consensus Estimate in two of the trailing four quarters and matched twice, the average negative surprise being 125%.

VSH’s Q4 Top-Line Details

Vishay Intertechnology’s fourth-quarter performance reflected a broad-based recovery, with a year-over-year increase in revenues across most segments indicating a recovery in demand. Revenues from MOSFET (21.6% of total revenues) were $172.6 million, up 17.7% year over year. The book-to-bill was 1.48.

Fourth-quarter revenues from Diodes (19.3% of total revenues) were $154.2 million, up 9.1% year over year. The book-to-bill was 1.09. Revenues from Optoelectronics (7% of total revenues) in the fourth quarter were $55.7 million, up 18.8% year over year. The book-to-bill was 1.12.

Revenues from Resistors (23.6% of total revenues) were $189.4 million, which rose 7% year over year. The book-to-bill was 1.05. Revenues from Inductors (11.6% of total revenues) were $92.6 million, up 11% year over year. The book-to-bill was 1.07. Revenues from Capacitors (16.5% of total revenues) were $136.5 million, moving up 14.4% year over year. The book-to-bill was 1.30.

VSH’s fourth-quarter adjusted EBITDA was $70.3 million, up 6.2% year over year. The adjusted EBITDA margin contracted 50 basis points on a year-over-year basis to 8.8%. The operating margin was 1.8% in the reported quarter against a negative 7.9% operating margin in the year-ago quarter.

VSH’s Balance Sheet & Cash Flow

As of Dec. 31, 2025, VSH’s cash and cash equivalents were $515.2 million compared with $444.1 million as of Sept. 27, 2025. Long-term debt was $950.9 million as of Sept. 27, higher than $919.7 million as of Sept. 27.

During the fourth quarter, Vishay Intertechnology generated operating cash flow and free cash flow of $149.4 million and $54.9 million, respectively. In 2025, it generated operating cash flow, while it had negative free cash flow of $54.9 million, respectively.

VSH Initiates Q1 2026 Guidance

For the first quarter of 2026, Vishay Intertechnology expects revenues between $800 million and $830 million. The Zacks Consensus Estimate for revenues is pegged at $797.9 million, suggesting a year-over-year increase of 11.6%.

The gross profit margin is anticipated to be 19.9% (+/- 50 basis points).

The Zacks Consensus Estimate for earnings is pegged at 10 cents per share, indicating a robust improvement from the year-ago quarter’s loss of 3 cents.

VSH’s Zacks Rank and Other Stocks to Consider

Currently, Vishay Intertechnology carries a Zacks Rank #2 (Buy).

Amphenol APH, Micron Technology MU and Analog Devices ADI are some other top-ranked stocks that investors can consider in the Zacks Computer and Technology sector. Amphenol and Micron Technology sport a Zacks Rank #1 (Strong Buy) each at present, while Analog Devices carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Amphenol’s 2026 earnings has been revised downward by 4 cents over the past seven days to $4.32 per share, calling for an increase of 29.3% year over year. Amphenol shares have surged 91.6% over the past year.

The Zacks Consensus Estimate for Micron Technology’s fiscal 2026 earnings has moved northward by 14 cents in the past 30 days to $32.90 per share, implying 296.9% year-over-year growth. Micron Technology shares have soared 320.4% over the past year.

The Zacks Consensus Estimate for Analog Devices’ fiscal 2026 earnings has moved northward by 21 cents over the past 30 days to $9.97 per share, indicating a year-over-year increase of 28%. Analog Devices shares have rallied 53% over the past year.

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This article originally published on Zacks Investment Research (zacks.com).

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