Financial Data and Key Metrics Changes - The company reported Q4 revenue of $801 million, slightly above the midpoint of guidance and a 1.3% increase from Q3 [4] - Revenue increased by 12% compared to Q4 2024, driven by an 11% increase in volume and a favorable foreign currency impact of 3% [18] - Gross profit was $157 million, resulting in a gross margin of 19.6%, which is modestly above both the midpoint of guidance and Q3 [18][19] - GAAP earnings per share was $0.01, compared to a loss of $0.06 in Q3 and a loss of $0.49 in Q4 2024 [20] Business Line Data and Key Metrics Changes - Automotive revenue decreased by 3.4% versus Q3, while Asia automotive revenue grew in a seasonally strong quarter [9] - Industrial power revenue increased by 3.2%, driven by shipments of high voltage DC power capacitors and inventory replenishment [10] - Aerospace and defense revenue was slightly down by 1.2%, reflecting U.S. government shutdown impacts [12] - Healthcare revenue was flat compared to Q3, with Europe experiencing its strongest quarter in three years [13] - Other category revenue grew by 10.6%, primarily due to AI power management applications [13] Market Data and Key Metrics Changes - Revenue growth for the quarter came entirely from Asia, which grew by 3.6%, while the Americas and Europe were flat due to year-end holiday slowdowns [16] - Book-to-bill ratio was 1.2, indicating strong order growth across all regions and channels [7] - Backlog at quarter end was $1.3 billion, representing 4.9 months of supply [8] Company Strategy and Development Direction - The company is executing a five-year strategic plan aimed at driving faster revenue growth and enhancing capital returns [28] - Significant investments are being made in capacity expansion, particularly at the 12-inch fab, with expected CapEx of $400 million to $440 million in 2026 [28][29] - The company is focusing on innovation, including the release of new products and solutions, particularly in silicon carbide technology for automotive applications [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining competitive lead times and securing customer trust, positioning the company for revenue growth in 2026 [32] - The company anticipates continued demand in key growth segments, with customer program visibility improving [32] - Management expects revenue for Q1 2026 to be between $800 million and $830 million, with sequential increases in all key growth segments [25] Other Important Information - The company generated $149 million in operating cash for Q4, with total CapEx for the quarter at $95 million [22] - The cash conversion cycle improved to 125 days, down from 130 days in Q3 [22] - The company plans to maintain its dividend policy, returning at least 70% of free cash flow to shareholders [27] Q&A Session Summary Question: What is the current view on industry growth expectations? - Management maintains a view of mid to high single-digit growth across key segments, including industrial power and automotive [35][36] Question: How are gross margins expected to trend? - Management indicated that annual contractual negotiations have resulted in less historical ASP decline, with price increases implemented due to higher material costs [38][39] Question: What is the outlook for automotive demand? - Management noted gains in market share and increasing volumes, particularly in technology areas such as electrification and ADAS [44][45] Question: Can you elaborate on CapEx and OpEx plans? - Management outlined a CapEx plan of $400 million to $440 million for 2026, focusing on capacity expansion and targeted projects [54][55] Question: Is M&A being considered? - Management confirmed that M&A is always on the table, with a focus on optimizing the company's footprint and exploring opportunities in both passive and active segments [62]

分组1 - Vishay Intertechnology reported quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.02 per share, compared to break-even earnings per share a year ago, representing an earnings surprise of -50.00% [1] - The company posted revenues of $800.92 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.38%, and this is an increase from year-ago revenues of $714.72 million [2] - Vishay has topped consensus revenue estimates four times over the last four quarters, indicating a consistent performance in revenue generation [2] 分组2 - The stock has added about 43.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 1.1% [3] - The current consensus EPS estimate for the coming quarter is $0.10 on $797.9 million in revenues, and for the current fiscal year, it is $0.80 on $3.25 billion in revenues [7] - The Semiconductor - Discretes industry, to which Vishay belongs, is currently in the top 2% of the Zacks industries, suggesting a favorable outlook for the sector [8]

4Q 2025 Earnings Conference Call February 4, 2026 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. NOTES ON FORWARD-LOOKING STATEMENTS Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. Such statements are based on current expect ...

Revenue and Earnings - 4Q 2025 revenues reached $800.9 million, a 1.3% increase from the previous quarter[2] - For the full year 2025, net revenues were $3.069 billion, up from $2.938 billion in 2024, representing a year-over-year increase of 4.5%[13] - The company expects 1Q 2026 revenues to be between $800 million and $830 million, with a gross profit margin of approximately 19.9%[3] - Net earnings attributable to Vishay stockholders for 2025 were a loss of $8.978 million, compared to a loss of $31.150 million in 2024[13] - The company reported a net loss of $8,978 thousand for the year ended December 31, 2025, an improvement from a net loss of $29,755 thousand in 2024[17] Profitability and Margins - Gross margin for 4Q 2025 was 19.6%, impacted by approximately 130 basis points due to Newport[6] - The operating income for 2025 was $56.9 million, with an operating margin of 1.9%, compared to 0.2% in 2024[13] - Adjusted EBITDA for the year ended December 31, 2025, was $264,246 thousand, compared to $317,358 thousand in 2024, indicating a decrease of 16.7%[20] - The adjusted EBITDA margin for the year ended December 31, 2025, was 8.6%, down from 10.8% in 2024[20] - The company experienced a favorable resolution of contingency that positively impacted adjusted net earnings by $11,293 thousand in 2025[18] Cash Flow and Dividends - Net cash provided by operating activities for the year ended December 31, 2025, was $184,308 thousand, up from $173,702 thousand in 2024, reflecting a 6.9% increase[17] - Cash dividends per share remained stable at $0.40 for both 2025 and 2024[13] - The company’s cash and cash equivalents at the end of the period decreased to $514,966 thousand from $590,286 thousand, a decline of 12.7%[17] Liabilities and Backlog - Total current liabilities increased to $720,426 thousand in December 2025 from $708,348 thousand in December 2024, representing a 1.5% increase[16] - Total liabilities increased to $2,145,887 thousand in December 2025 from $2,081,734 thousand in December 2024, marking a 3.1% increase[16] - Backlog at the end of 4Q 2025 was 4.9 months, indicating strong demand[6] Capital Expenditures and Future Outlook - Capital expenditures for the year ended December 31, 2025, were $273,293 thousand, down from $320,079 thousand in 2024, a reduction of 14.6%[17] - The company aims to enhance profitability and accelerate revenue growth as it enters 2026[2] - The company reported a book-to-bill ratio of 1.20 for the quarter, with semiconductors at 1.27 and passive components at 1.13[6]

Core Insights - Vishay Intertechnology, Inc. reported a 1.3% increase in revenue for the fourth quarter of 2025 compared to the third quarter, driven by demand in industrial and AI-related power applications [3] - The company achieved a book-to-bill ratio of 1.20, indicating strong order growth, with orders reaching a three-year high [3] - For the first quarter of 2026, management anticipates revenues between $800 million and $830 million, with a gross profit margin of approximately 19.9% [4] Financial Performance - Fourth quarter 2025 revenues were $800.9 million, with a gross margin of 19.6%, impacted by approximately 130 basis points due to Newport [9] - The company reported a net loss of $8.978 million for the year ended December 31, 2025, compared to a net loss of $29.755 million in 2024 [13][20] - Operating income for the fourth quarter was $14.788 million, resulting in an operating margin of 1.8% [15] Balance Sheet and Cash Flow - As of December 31, 2025, total assets were $4.234 billion, an increase from $4.111 billion in 2024 [19] - Current liabilities stood at $720.426 million, with total liabilities amounting to $2.145 billion [19] - The company generated $184.308 million in net cash from operating activities for the year ended December 31, 2025 [20] Market Position and Strategy - Vishay is recognized as one of the largest manufacturers of discrete semiconductors and passive electronic components, serving various markets including automotive, industrial, and healthcare [7] - The company aims to enhance profitability and return on capital while maintaining competitive lead times to build customer trust [3]

Core Insights - Vishay Intertechnology, Inc. has launched five new 1200 V MOSFET power modules aimed at enhancing power efficiency for medium to high frequency applications across various sectors including automotive, energy, industrial, and telecom systems [1][2]. Product Features - The new power modules, VS-SF50LA120, VS-SF50SA120, VS-SF100SA120, VS-SF150SA120, and VS-SF200SA120, incorporate the latest generation of silicon carbide (SiC) MOSFETs and are available in the industry-standard SOT-227 package [1][3]. - Each module features a SiC MOSFET integrated with a soft body diode, which results in reduced switching losses and improved efficiency for applications such as solar inverters, electric vehicle chargers, and large-scale battery storage systems [2][4]. - The modules provide continuous drain current ranging from 50 A to 200 A, with low on-resistance values down to 12.1 mΩ, and a maximum operating junction temperature of +175 °C [4][5]. Design and Compatibility - The compact SOT-227 package allows these devices to serve as drop-in replacements for existing solutions, facilitating the adoption of new SiC technologies without the need for redesigning PCB layouts [3][4]. - The molded package offers electrical insulation up to 2500 V for one minute, which helps in reducing costs by eliminating the need for additional insulation between the component and heatsink [3]. Availability - Samples and production quantities of the new power modules are currently available, with lead times of 13 weeks [5].

Core Insights - The article discusses the challenges faced by companies in managing excess inventory, particularly in the semiconductor industry, highlighting the financial burden of storage and capital costs associated with unsold materials [1] - It emphasizes the services provided by a company called "Chip Superman," which has successfully served 22,000 users and offers rapid inventory clearance solutions [2][11] - The article lists various semiconductor components available for sale at discounted prices, indicating a significant inventory of over 50 million chips valued at over 100 million [10] Group 1: Inventory Management - Companies are incurring monthly storage and capital costs of at least 5,000, leading to potential losses of 30,000 after six months if inventory remains unsold [1] - The article suggests that companies struggling to promote their materials can seek assistance from Chip Superman [1] Group 2: Services Offered - Chip Superman has a smart warehouse spanning 1,600 square meters, with over 1,000 models and 100 brands in stock, totaling 50 million chips [10] - The company claims to complete transactions in as little as half a day, providing a quick solution for businesses looking to clear their inventory [11] Group 3: Product Listings - A detailed list of available semiconductor components is provided, including brands like Micron, SK Hynix, and Samsung, with quantities ranging from 1,360 to 44,000 units for various models [5][6][7] - The article also includes a request for specific components, indicating ongoing demand in the market [8]

Core Viewpoint - The semiconductor industry has faced significant challenges over the past year, particularly for companies lacking exposure to growth markets such as AI and data centers [1] Group 1: Industry Challenges - Companies that provide diversified components like MOSFETs, resistors, capacitors, and diodes have experienced slow growth due to the lack of meaningful exposure to high-growth sectors [1]

Core Viewpoint - The semiconductor industry has faced significant challenges over the past year, particularly for companies lacking exposure to growth markets such as AI and data centers [1] Group 1: Industry Challenges - Companies that provide diversified components like MOSFETs, resistors, capacitors, and diodes have experienced slow growth due to the lack of meaningful exposure to high-growth sectors [1]

Devices Offer Drop-in Replacements to Reduce Conduction Losses and Increase Efficiency in Industrial ApplicationsMALVERN, Pa., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH) today introduced four new 100 V Gen 2 Trench MOS Barrier Schottky (TMBS®) rectifier modules in the compact, fully insulated SOT-227 package. Optimized for power conversion in industrial applications, the devices offer best-in-class forward voltage drop down to 0.83 V to reduce conduction losses. The Vishay Se ...