Executive Summary
Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive components in the United States, Europe, Asia, and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Excellent balance sheet and fair value.
Similar Companies
Share Price & News
How has Vishay Intertechnology's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: VHY has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-2.1%
VHY
-1.9%
DE Electronic
-0.9%
DE Market
1 Year Return
-2.4%
VHY
8.5%
DE Electronic
12.8%
DE Market
Return vs Industry: VHY underperformed the German Electronic industry which returned 8.5% over the past year.
Return vs Market: VHY underperformed the German Market which returned 12.8% over the past year.
Shareholder returns
| VHY | Industry | Market | |
|---|---|---|---|
| 7 Day | -2.1% | -1.9% | -0.9% |
| 30 Day | -7.4% | 8.2% | -0.4% |
| 90 Day | 7.4% | 8.8% | 2.3% |
| 1 Year | -0.3%-2.4% | 10.9%8.5% | 16.3%12.8% |
| 3 Year | 31.2%24.8% | 49.7%44.8% | 15.8%5.7% |
| 5 Year | 63.0%49.1% | 114.5%99.2% | 19.7%3.3% |
Price Volatility Vs. Market
How volatile is Vishay Intertechnology's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Vishay Intertechnology undervalued compared to its fair value and its price relative to the market?
10.8%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: VHY (€18.9) is trading below our estimate of fair value (€21.18)
Significantly Below Fair Value: VHY is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: VHY is good value based on its PE Ratio (17.7x) compared to the Electronic industry average (29.8x).
PE vs Market: VHY is good value based on its PE Ratio (17.7x) compared to the German market (21x).
Price to Earnings Growth Ratio
PEG Ratio: VHY is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: VHY is overvalued based on its PB Ratio (2x) compared to the DE Electronic industry average (1.9x).
Next Steps
Future Growth
How is Vishay Intertechnology forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
13.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VHY's forecast earnings growth (13.5% per year) is above the savings rate (-0.4%).
Earnings vs Market: VHY's earnings (13.5% per year) are forecast to grow faster than the German market (13% per year).
High Growth Earnings: VHY's earnings are forecast to grow, but not significantly.
Revenue vs Market: VHY's revenue (2.3% per year) is forecast to grow slower than the German market (5.2% per year).
High Growth Revenue: VHY's revenue (2.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VHY's Return on Equity is forecast to be low in 3 years time (13.5%).
Next Steps
Past Performance
How has Vishay Intertechnology performed over the past 5 years?
39.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VHY has high quality earnings.
Growing Profit Margin: VHY's current net profit margins (6.1%) are lower than last year (11.4%).
Past Earnings Growth Analysis
Earnings Trend: VHY's earnings have grown significantly by 39.5% per year over the past 5 years.
Accelerating Growth: VHY's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: VHY had negative earnings growth (-52.6%) over the past year, making it difficult to compare to the Electronic industry average (-3.9%).
Return on Equity
High ROE: VHY's Return on Equity (11.1%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Vishay Intertechnology's financial position?
Financial Position Analysis
Short Term Liabilities: VHY's short term assets ($1.7B) exceed its short term liabilities ($520.4M).
Long Term Liabilities: VHY's short term assets ($1.7B) exceed its long term liabilities ($1.1B).
Debt to Equity History and Analysis
Debt Level: VHY's debt to equity ratio (33.6%) is considered satisfactory.
Reducing Debt: VHY's debt to equity ratio has increased from 24.3% to 33.6% over the past 5 years.
Debt Coverage: VHY's debt is well covered by operating cash flow (59.4%).
Interest Coverage: VHY's interest payments on its debt are well covered by EBIT (10.8x coverage).
Balance Sheet
Inventory Level: VHY has a high level of physical assets or inventory.
Debt Coverage by Assets: VHY's debt is covered by short term assets (assets are 3.4x debt).
Next Steps
Dividend
What is Vishay Intertechnology's current dividend yield, its reliability and sustainability?
1.89%
Current Dividend Yield
Upcoming Dividend Payment
Purchase Vishay Intertechnology before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: VHY's dividend (1.89%) is higher than the bottom 25% of dividend payers in the German market (1.31%).
High Dividend: VHY's dividend (1.89%) is low compared to the top 25% of dividend payers in the German market (3.63%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, VHY has been paying a dividend for less than 10 years.
Growing Dividend: VHY's dividend payments have increased, but the company has only paid a dividend for 6 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (32.6%), VHY's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: VHY's dividends in 3 years are forecast to be well covered by earnings (22.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
8.5yrs
Average management tenure
CEO
Gerald Paul (70yo)
15.1yrs
Tenure
US$7,106,112
Compensation
Dr. Gerald Paul serves as the Chief Executive Officer, President and Chief Operating Officer at Vishay Semiconductor GmbH. Dr. Paul has been the Chief Executive Officer of Vishay Intertechnology Inc. since ...
CEO Compensation Analysis
Compensation vs Market: Gerald's total compensation ($USD7.11M) is above average for companies of similar size in the German market ($USD2.28M).
Compensation vs Earnings: Gerald's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & Chief Business Development Officer | 8.7yrs | US$5.78m | 0.025% $672.8k | |
| CEO, President & Director | 15.1yrs | US$7.11m | 0.11% $2.9m | |
| Executive VP & CFO | 8.4yrs | US$1.32m | 0.028% $756.4k | |
| Executive VP & CTO | 8.5yrs | US$1.45m | 0.022% $593.8k | |
| Executive VP & Business Head of Semiconductors | 3.1yrs | US$1.40m | 0.0065% $174.6k | |
| Senior VP | 0yrs | no data | no data | |
| Senior VP of Corporate Communications & Corporate Secretary | 0yrs | no data | no data | |
| Executive Vice President of Worldwide Sales | 13.1yrs | US$899.67k | 0.025% $668.0k | |
| Executive Vice President of Global Human Resources | 3.1yrs | no data | no data | |
| Executive VP & Business Head of Passive Components | 3.1yrs | no data | 0.0021% $56.0k |
8.5yrs
Average Tenure
60.5yo
Average Age
Experienced Management: VHY's management team is seasoned and experienced (8.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman & Chief Business Development Officer | 8.7yrs | US$5.78m | 0.025% $672.8k | |
| CEO, President & Director | 15.1yrs | US$7.11m | 0.11% $2.9m | |
| Independent Director | 1.3yrs | US$5.75k | 0.0014% $36.9k | |
| Independent Director | 11.1yrs | US$238.57k | 0.067% $1.8m | |
| Director | 19.1yrs | US$223.57k | 0.017% $461.6k | |
| Non-Employee Director | 19.1yrs | US$373.57k | 0.17% $4.6m | |
| Independent Director | 17.1yrs | US$243.57k | 0.060% $1.6m | |
| Independent Director | 7.1yrs | US$238.57k | 0.030% $797.1k | |
| Independent Director | 15.8yrs | US$258.57k | 0.033% $879.3k | |
| Independent Director | 3yrs | US$223.57k | 0.0070% $188.8k |
13.4yrs
Average Tenure
69.5yo
Average Age
Experienced Board: VHY's board of directors are seasoned and experienced ( 13.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: VHY insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Vishay Intertechnology, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Vishay Intertechnology, Inc.
- Ticker: VHY
- Exchange: DB
- Founded: 1962
- Industry: Electronic Components
- Sector: Tech
- Market Cap: US$2.908b
- Listing Market Cap: US$2.677b
- Shares outstanding: 144.55m
- Website: https://www.vishay.com
Number of Employees
Location
- Vishay Intertechnology, Inc.
- 63 Lancaster Avenue
- Malvern
- Pennsylvania
- 19355-2143
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| VSH | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | May 1974 |
| VHY | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | May 1974 |
Biography
Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive components in the United States, Europe, Asia, and internationally. The Diodes segment provides rectifiers, small signal diodes, protection diodes, thyristors/silicon-controlled rectifiers, and power modules. The Optoelectronic Components segment offers standard and customer specific optoelectronic components, such as infrared (IR) emitters and detectors, IR remote control receivers, optocouplers, solid-state relays, optical sensors, light-emitting diodes, 7-segment displays, and IR data transceiver modules. The Resistors segment provides film, wirewound, power metal strip, power metal plate, crowbar and steel blade, variable, RF and microwave, high voltage, and non-linear resistors, as well as battery management shunts, thermo fuses, chip fuses, pyrotechnic initiators/igniters, networks/arrays, dividers, and temperature sensors. The Inductors segment offers inductors, transformers, magnetics, and connectors. The Capacitors segment offers tantalum, ceramic, film, power, heavy-current, aluminum electrolytic capacitors, and energy storage capacitors. The company’s semiconductor components are used for power control, power conversion, power management, signal switching, signal routing, signal blocking, signal amplification, two-way data transfer, one-way remote control, and circuit isolation functions; and passive components are used to restrict current flow, suppress voltage increases, store and discharge energy, control alternating current and voltage, filter out unwanted electrical signals, and other functions.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/23 21:05 |
| End of Day Share Price | 2020/02/21 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.