Vishay Intertechnology Inc. has recently released its 10-K report, detailing its financial performance and business operations. The company manufactures and sells discrete semiconductors and passive electronic components across various regions. It operates through six segments, including MOSFETs, Diodes, Optoelectronic Components, Resistors, Inductors, and Capacitors. The company's products cater to industrial, automotive, telecommunications, computing, consumer products, power supplies, military and aerospace, and medical end markets.
In the 10-K report, Vishay Intertechnology Inc. provided an overview of its financial condition and results of operations. The company's goal is to enhance stockholder value by growing its business and improving earnings per share. It has pursued a business strategy of growth through focused research and development and acquisitions since 1985. Vishay Intertechnology Inc. plans to continue growing its business through intensified internal growth supplemented by opportunistic acquisitions while maintaining a prudent capital structure.
The company's net revenues for the year ended December 31, 2025, were $3.069 billion, compared to $2.938 billion and $3.402 billion for the years ended December 31, 2024, and 2023, respectively. The net loss attributable to Vishay stockholders for the year ended December 31, 2025, was $(9.0) million, compared to a net loss of $(31.2) million and net earnings of $323.8 million for the years ended December 31, 2024, and 2023, respectively.
Vishay Intertechnology Inc. utilizes several financial metrics, including net revenues, gross profit margin, segment operating income, end-of-period backlog, book-to-bill ratio, inventory turnover, change in average selling prices, net cash and short-term investments, and free cash generation to evaluate its performance and assess the future direction of its business. The company's free cash results were significantly impacted by the installment payments of the U.S. transition tax and payments of foreign and withholding cash taxes on foreign earnings that were repatriated to the U.S.
In 2022, the company's Board of Directors adopted a Stockholder Return Policy, which calls for returning at least 70% of free cash flow, net of scheduled principal payments of long-term debt, on an annual basis. The policy sets forth the company's intention to return such amounts to stockholders directly, in the form of dividends, or indirectly, in the form of stock repurchases. For the fiscal year ended December 31, 2025, the company exceeded its intended return through quarterly cash dividends and opportunistic share repurchases.
Vishay Intertechnology Inc. has embarked on a new era, referred to as Vishay 3.0, with a three-year plan to expand capacity to support its highest growth and highest return product lines and to position the company for the next phase of megatrends in e-mobility, sustainability, and connectivity. The company has identified product lines for growth across each reportable segment and developed go-to-market strategies for each of these product lines. Additionally, it has implemented organizational and structural changes focused on a “Think Customer First” philosophy and becoming a more responsive company.
The market has reacted to these announcements by moving the company's shares 2.35% to a price of $18.29. If you want to know more, read the company's complete 10-K report here.
