Jun 2026 (Q2 FY26) — Aug 5, 2026
Vishay Intertechnology Q2 FY26 — Strong Demand and Capacity Expansion Drive Record Bookings and Margin Expansion
Read the full callVishay Intertechnology (VSH) earnings
- Jul 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Vishay Intertechnology earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 889 | +16.6% YoY | Quarterly, as filed | Quarter to Jul 2026 | Revenue from operations as filed. |
| Operating margin | 6.0 | +3.1 pts YoY | Operating profit / revenue | Quarter to Jul 2026 | For the quarter; a change is in percentage points. |
| Net profit | 28.1 | +1303.4% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
41 of 49 judged targets kept · 24 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly depreciation expense guidance | approximately $54 million | Mar 2026 | Depreciation expense was $53 million, relatively flat with quarter 1. | Achieved |
| Full-year depreciation expense guidance | $218 million | Dec 2025 | Depreciation expense is expected to be approximately $54 million for the third quarter and $215 million for the full year. | Revised Up |
| Quarterly tax expense guidance | between $2 million and $4 million | Dec 2025 | Q1 tax expense exceeded our guidance range as pretax earnings exceeded expectations. | Missed |
8 of VISHAY INTERTECHNOLOGY INC's 73 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 70 more targets are in the full ledger.
Claimed
- Adjusted revenue of $919 million exceeded the top end of guidance.
- Book-to-bill for Q2 was 1.32, with record high bookings for resistors and inductors.
- Total backlog grew 18% to $1.9 billion or 6.1 months.
- Adjusted gross margin reached 22.6%, exceeding guidance and accelerating the 24% target by a quarter.
- Adjusted EBITDA margin increased to 11.4% from 9.3% in Q1 FY26.
Qualified
- GAAP effective tax rate remains elevated at 33.7% due to U.S. taxation of foreign earnings and repatriation taxes.
- Expected negative free cash flow for FY26 due to significant capacity expansion plans.
- Memory shortages and higher component prices have tempered demand in the consumer segment.
Price
$28.54 +3.00% · +$0.83
Performance +73.1% 1Y
1Y: $16.49 on 17 Oct 2025 → $28.54. High $64.9 (18 Jun 2026), low $11.82 (20 Nov 2025).
- Previous close
- $27.71
- 52-week range
- $11.82 – $64.9
- One year
- +63.09%
Overview
- Symbol
- VSH
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
41 of 49 judged targets kept · 24 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly depreciation expense guidance | approximately $54 million | Mar 2026 | Depreciation expense was $53 million, relatively flat with quarter 1. | Achieved |
| Full-year depreciation expense guidance | $218 million | Dec 2025 | Depreciation expense is expected to be approximately $54 million for the third quarter and $215 million for the full year. | Revised Up |
| Quarterly tax expense guidance | between $2 million and $4 million | Dec 2025 | Q1 tax expense exceeded our guidance range as pretax earnings exceeded expectations. | Missed |
Claimed
- Adjusted revenue of $919 million exceeded the top end of guidance.
- Book-to-bill for Q2 was 1.32, with record high bookings for resistors and inductors.
- Total backlog grew 18% to $1.9 billion or 6.1 months.
- Adjusted gross margin reached 22.6%, exceeding guidance and accelerating the 24% target by a quarter.
- Adjusted EBITDA margin increased to 11.4% from 9.3% in Q1 FY26.
Qualified
- GAAP effective tax rate remains elevated at 33.7% due to U.S. taxation of foreign earnings and repatriation taxes.
- Expected negative free cash flow for FY26 due to significant capacity expansion plans.
- Memory shortages and higher component prices have tempered demand in the consumer segment.
The full ledger
Open VISHAY INTERTECHNOLOGY INC’s full ledger
A free account opens 5 company ledgers a month. All 73 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 13, 2026
Vishay Q1 FY26 — Strong Revenue Growth and Backlog Expansion Driven by Vishay 3.0 Strategy
Read the full callEvery analysed call
Vishay Intertechnology earnings calls (VSH)
Financials
What the filings say
Net profit, year on year: +1303% (quarter to jul 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 735 | 715 | 715 | 762 | 791 | 801 | 839 | 889 |
| Operating profit | -18 | -57 | 1 | 22 | 19 | 15 | 22 | 54 |
| Operating margin | −2.5% | −7.9% | 0.1% | 2.9% | 2.4% | 1.9% | 2.6% | 6.0% |
| Other income | -6 | -2 | -5 | -10 | -7 | -9 | -9 | -11 |
| Interest | 7 | 8 | 9 | 11 | 10 | 10 | 10 | 10 |
| Profit before tax | -24 | -59 | -4 | 12 | 12 | 6 | 13 | 42 |
| Tax rate | 21.1% | −12.3% | 3.2% | 83.7% | 166.3% | 82.3% | 44.3% | 33.7% |
| Net profit | -19 | -66 | -4 | 2 | -8 | 1 | 7 | 28 |
| EPS ($ per share) | -0.14 | — | -0.03 | 0.01 | -0.06 | — | 0.05 | 0.21 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | -61 | 72 | 139 | 402 | 773 | 1,041 | 956 | 892 |
| Total liabilities | 1,720 | 1,633 | 1,575 | 1,797 | 1,816 | 2,039 | 2,082 | 2,146 |
| Fixed assets | 969 | 952 | 943 | 979 | 1,130 | 1,295 | 1,546 | 1,673 |
| Total assets | 3,106 | 3,121 | 3,154 | 3,543 | 3,866 | 4,240 | 4,111 | 4,234 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 259 | 296 | 315 | 457 | 484 | 366 | 174 | 184 |
| Cash from investing | 269 | -195 | -192 | -230 | -529 | -73 | -512 | -258 |
| Cash from financing | -576 | -90 | -209 | -59 | -101 | 61 | -35 | -20 |
| Net cash flow | -62 | 8 | -74 | 154 | -163 | 362 | -382 | -75 |
| Capital expenditure | -230 | -157 | -124 | -218 | -325 | -329 | -320 | -273 |
| Free cash flow | 29 | 140 | 191 | 239 | 159 | 36 | -146 | -89 |
VSH revenue by segment
Capacitors grew from 15% to 17% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Resistors | 25% | 25% | 25% | 26% | 25% | 24% | 24% | 24% | +10.4% |
| Mosfets | 20% | 21% | 20% | 20% | 21% | 22% | 21% | 21% | +27.1% |
| Diodes | 20% | 20% | 20% | 19% | 19% | 19% | 20% | 21% | +26.4% |
| Capacitors | 15% | 17% | 16% | 16% | 17% | 17% | 17% | 17% | +26.7% |
| Inductors | 12% | 12% | 12% | 13% | 12% | 12% | 11% | 12% | +8.9% |
| Optoelectronic Components | 9% | 7% | 7% | 7% | 7% | 7% | 7% | 8% | +29.5% |
| Corporate | — | — | 0% | 0% | 0% | 0% | — | -3% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
VSH operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Book-to-bill | 1.34 ratioTotal company book-to-bill at quarter end was 1.34, up from 1.2 in the [indiscernible].Source: earnings call transcript | 1.32 ratioBook-to-bill for Q2 was 1.32 with semis at 1.23 and passives higher at 1.40.Source: earnings call transcript | -1.5% |
| Book-to-bill Semiconductors | 1.47 ratioFor semis, book-to-bill was 1.47 and for passives, it was 1.23.Source: earnings call transcript | 1.23 ratioBook-to-bill for Q2 was 1.32 with semis at 1.23 and passives higher at 1.40.Source: earnings call transcript | -16.3% |
| Book-to-bill Passives | 1.23 ratioFor semis, book-to-bill was 1.47 and for passives, it was 1.23.Source: earnings call transcript | 1.4 ratioBook-to-bill for Q2 was 1.32 with semis at 1.23 and passives higher at 1.40.Source: earnings call transcript | +13.8% |
| Backlog | $1.6BAs a result, backlog increased 21% to $1.6 billion at quarter end or 5.7 months.Source: earnings call transcript | $1.9BAs a result, our total backlog grew 18% to $1.9 billion or 6.1 months.Source: earnings call transcript | +18.8% |
| Backlog | 5.7 monthsAs a result, backlog increased 21% to $1.6 billion at quarter end or 5.7 months.Source: earnings call transcript | 6.1 monthsAs a result, our total backlog grew 18% to $1.9 billion or 6.1 months.Source: earnings call transcript | +7% |
| Capital expenditures 12-inch fab in Germany | ~$87MTotal CapEx for the quarter was $111 million, including approximately $87 million for our new 12-inch fab in Germany.Source: earnings call transcript | ~$66MTotal CapEx for the quarter was $95 million, including approximately $66 million for our new 12-inch wafer fab in Germany.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- Asia 42% ↑ 3 pt
- Europe 34% ↓ 1 pt
- Americas 27% ↑ 1 pt
- Tariff Refunds -3%
As VSH cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
30 filings between Jan 2, 2026 and Oct 2, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$593.7K
1 sale by 1 insider
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 15
- Award — granted as compensation
- 14
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Zilberman Raanan | — | $593.7K | Oct 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Zilberman Raanan Director | Sale 10b5-1 plan | 16,575 | $593.7K |
| Mar 2, 2026 | McConnell David EVP & Chief Financial Officer | Tax withheld | 260 | $4.9K |
| Mar 2, 2026 | Tomlinson David L SVP & Chief Accounting Officer | Tax withheld | 257 | $4.8K |
| Mar 2, 2026 | Hackett Robert Barrett II SVP Global HR | Tax withheld | 221 | $4.1K |
| Mar 2, 2026 | O'Sullivan Michael Shamus EVP Chief Admin & LegalOfficer | Tax withheld | 360 | $6.7K |
| Feb 25, 2026 | Smejkal Joel President and CEO | Award | 172,106 | $0 |
| Feb 25, 2026 | McConnell David EVP & Chief Financial Officer | Award | 50,994 | $0 |
| Feb 25, 2026 | Shoshani Roy EVP & Chief Technical Officer | Award | 56,094 | $0 |
| Feb 25, 2026 | Henrici Peter EVP - Corporate Development | Award | 16,573 | $0 |
| Feb 25, 2026 | Tomlinson David L SVP & Chief Accounting Officer | Award | 14,023 | $0 |
| Feb 25, 2026 | O'Sullivan Michael Shamus EVP Chief Admin & LegalOfficer | Award | 14,023 | $0 |
| Feb 25, 2026 | Hackett Robert Barrett II SVP Global HR | Award | 10,199 | $0 |
| Feb 25, 2026 | ZANDMAN MARC ExecChairman & Chief Bus Dev | Award | 127,486 | $0 |
| Jan 2, 2026 | Cody Michael J Director | Tax withheld | 65 | $942 |
| Jan 2, 2026 | ZANDMAN MARC ExecChairman & Chief Bus Dev | Tax withheld | 18,555 | $268.9K |
| Jan 2, 2026 | Smejkal Joel President and CEO | Tax withheld | 41,091 | $595.4K |
| Jan 2, 2026 | McConnell David EVP & Chief Financial Officer | Tax withheld | 5,972 | $86.5K |
| Jan 2, 2026 | Henrici Peter EVP - Corporate Development | Tax withheld | 5,459 | $79.1K |
| Jan 2, 2026 | Tomlinson David L SVP & Chief Accounting Officer | Tax withheld | 1,856 | $26.9K |
| Jan 2, 2026 | Shoshani Roy EVP & Chief Technical Officer | Tax withheld | 11,535 | $167.1K |
| Jan 2, 2026 | O'Sullivan Michael Shamus EVP Chief Admin & LegalOfficer | Tax withheld | 2,171 | $31.5K |
| Jan 2, 2026 | Hackett Robert Barrett II SVP Global HR | Tax withheld | 1,708 | $24.7K |
| Jan 2, 2026 | Booth Renee B Director | Award | 13,802 | $0 |
| Jan 2, 2026 | Kurahashi Michiko Director | Tax withheld | 65 | $942 |
| Jan 2, 2026 | Kurahashi Michiko Director | Award | 13,802 | $0 |
| Jan 2, 2026 | LUDOMIRSKI ABRAHAM Director | Award | 13,802 | $0 |
| Jan 2, 2026 | Malvisi John Director | Award | 13,802 | $0 |
| Jan 2, 2026 | ZANDMAN RUTA Director | Award | 13,802 | $0 |
| Jan 2, 2026 | Zilberman Raanan Director | Award | 13,802 | $0 |
| Jan 2, 2026 | Cody Michael J Director | Award | 13,802 | $0 |
| Jun 13, 2025 | Cody Michael J Director | Purchase | 250 | $3.9K |
| Jun 11, 2025 | Cody Michael J Director | Purchase | 3,500 | $56.4K |
| May 13, 2025 | O'Sullivan Michael Shamus EVP Chief Admin & LegalOfficer | Purchase | 2,500 | $37.2K |
| May 13, 2025 | Hackett Robert Barrett II SVP Global HR | Purchase | 1,000 | $14.8K |
| May 13, 2025 | Shoshani Roy EVP, COO Semiconductors & CTO | Purchase | 10,000 | $149.5K |
| May 12, 2025 | Smejkal Joel President and CEO | Purchase | 10,000 | $147.0K |
| May 12, 2025 | Tomlinson David L SVP & Chief Accounting Officer | Purchase | 1,000 | $14.4K |
| May 12, 2025 | McConnell David EVP & Chief Financial Officer | Purchase | 2,000 | $29.4K |
| May 12, 2025 | Henrici Peter EVP - Corporate Development | Purchase | 1,430 | $21.0K |
| Mar 4, 2025 | ZANDMAN MARC ExecChairman & Chief Bus Dev | Sale 10b5-1 plan | 27,176 | $458.7K |
| Mar 1, 2025 | Hackett Robert Barrett II SVP Global HR | Tax withheld | 221 | $3.8K |
| Mar 1, 2025 | Tomlinson David L SVP & Chief Accounting Officer | Tax withheld | 290 | $5.0K |
| Mar 1, 2025 | O'Sullivan Michael Shamus EVP Chief Admin & LegalOfficer | Tax withheld | 414 | $7.1K |
| Mar 1, 2025 | McConnell David EVP & Chief Financial Officer | Tax withheld | 260 | $4.5K |
| Feb 26, 2025 | ZANDMAN MARC ExecChairman & Chief Bus Dev | Award | 54,353 | $0 |
| Feb 26, 2025 | ZANDMAN MARC ExecChairman & Chief Bus Dev | Tax withheld | 27,177 | $481.0K |
| Feb 26, 2025 | ZANDMAN MARC ExecChairman & Chief Bus Dev | Award | 43,511 | $0 |
| Feb 26, 2025 | Smejkal Joel President and CEO | Award | 6,815 | $0 |
| Feb 26, 2025 | Smejkal Joel President and CEO | Tax withheld | 3,023 | $54.4K |
| Feb 26, 2025 | Smejkal Joel President and CEO | Award | 208,333 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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