It has been about a month since the last earnings report for Vishay Intertechnology (VSH). Shares have lost about 12.8% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Vishay due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Vishay Q4 Earnings Miss Estimates
Vishay Intertechnology 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’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.
Vishay Intertechnology’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 gross profit margin is anticipated to be 19.9% (+/- 50 basis points).
How Have Estimates Been Moving Since Then?
It turns out, fresh estimates have trended downward during the past month.
The consensus estimate has shifted -73.33% due to these changes.
VGM Scores
Currently, Vishay has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with a C. Charting a somewhat similar path, the stock was allocated a grade of B on the value side, putting it in the top 40% for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. It's no surprise Vishay has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpVishay Intertechnology, Inc. (VSH) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
