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Vishay Intertechnology

NYSE:VSH
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VSH
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive components in the United States, Europe, and Asia. The last earnings update was 33 days ago. More info.


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VSH Share Price and Events
7 Day Returns
-2.9%
NYSE:VSH
0.7%
US Electronic
1.2%
US Market
1 Year Returns
2.7%
NYSE:VSH
-0.3%
US Electronic
3%
US Market
VSH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vishay Intertechnology (VSH) -2.9% -11.9% 9.8% 2.7% 61.8% 36.1%
US Electronic 0.7% 1.1% 21.2% -0.3% 59.3% 59.2%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
  • VSH outperformed the Electronic industry which returned -0.3% over the past year.
Price Volatility
VSH
Industry
5yr Volatility vs Market

VSH Value

 Is Vishay Intertechnology undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Vishay Intertechnology to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Vishay Intertechnology.

NYSE:VSH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:VSH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.071 (1 + (1- 21%) (17.29%))
1.146
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.146 * 5.96%)
9.56%

Discounted Cash Flow Calculation for NYSE:VSH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Vishay Intertechnology is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:VSH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.56%)
2019 258.00 Analyst x1 235.49
2020 283.87 Est @ 10.03% 236.50
2021 306.12 Est @ 7.84% 232.79
2022 325.42 Est @ 6.31% 225.88
2023 342.44 Est @ 5.23% 216.96
2024 357.79 Est @ 4.48% 206.91
2025 371.95 Est @ 3.96% 196.33
2026 385.29 Est @ 3.59% 185.63
2027 398.13 Est @ 3.33% 175.08
2028 410.67 Est @ 3.15% 164.84
Present value of next 10 years cash flows $2,076.42
NYSE:VSH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $410.67 × (1 + 2.73%) ÷ (9.56% – 2.73%)
$6,179.23
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,179.23 ÷ (1 + 9.56%)10
$2,480.37
NYSE:VSH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,076.42 + $2,480.37
$4,556.79
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,556.79 / 144.32
$31.57
NYSE:VSH Discount to Share Price
Calculation Result
Value per share (USD) From above. $31.57
Current discount Discount to share price of $19.82
= -1 x ($19.82 - $31.57) / $31.57
37.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Vishay Intertechnology is available for.
Intrinsic value
37%
Share price is $19.82 vs Future cash flow value of $31.57
Current Discount Checks
For Vishay Intertechnology to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Vishay Intertechnology's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Vishay Intertechnology's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Vishay Intertechnology's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vishay Intertechnology's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:VSH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.39
NYSE:VSH Share Price ** NYSE (2019-03-20) in USD $19.82
United States of America Electronic Industry PE Ratio Median Figure of 92 Publicly-Listed Electronic Companies 19.54x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Vishay Intertechnology.

NYSE:VSH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:VSH Share Price ÷ EPS (both in USD)

= 19.82 ÷ 2.39

8.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vishay Intertechnology is good value based on earnings compared to the US Electronic industry average.
  • Vishay Intertechnology is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Vishay Intertechnology's expected growth come at a high price?
Raw Data
NYSE:VSH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
-4.9%per year
United States of America Electronic Industry PEG Ratio Median Figure of 60 Publicly-Listed Electronic Companies 1.54x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NYSE:VSH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 8.28x ÷ -4.9%

-1.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vishay Intertechnology earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Vishay Intertechnology's assets?
Raw Data
NYSE:VSH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $9.59
NYSE:VSH Share Price * NYSE (2019-03-20) in USD $19.82
United States of America Electronic Industry PB Ratio Median Figure of 151 Publicly-Listed Electronic Companies 2.1x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
NYSE:VSH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:VSH Share Price ÷ Book Value per Share (both in USD)

= 19.82 ÷ 9.59

2.07x

* Primary Listing of Vishay Intertechnology.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Vishay Intertechnology is good value based on assets compared to the US Electronic industry average.
X
Value checks
We assess Vishay Intertechnology's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Vishay Intertechnology has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VSH Future Performance

 How is Vishay Intertechnology expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vishay Intertechnology expected to grow at an attractive rate?
  • Vishay Intertechnology's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Vishay Intertechnology's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Vishay Intertechnology's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:VSH Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:VSH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts -4.9%
NYSE:VSH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 3%
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 17%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:VSH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:VSH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 3,225 316 4
2019-12-31 3,086 448 314 5
NYSE:VSH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 3,035 259 346
2018-09-29 2,936 232 66
2018-06-30 2,833 279 52
2018-03-31 2,716 372 5
2017-12-31 2,599 369 -20
2017-09-30 2,497 329 109
2017-07-01 2,411 329 81
2017-04-01 2,358 319 57
2016-12-31 2,317 297 49
2016-10-01 2,309 305 -40
2016-07-02 2,277 248 -104
2016-04-02 2,278 253 -111

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vishay Intertechnology's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Vishay Intertechnology's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:VSH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Vishay Intertechnology Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:VSH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.16 2.36 2.01 3.00
2019-12-31 2.15 2.25 2.05 4.00
NYSE:VSH Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.39
2018-09-29 0.46
2018-06-30 0.36
2018-03-31 0.04
2017-12-31 -0.14
2017-09-30 0.74
2017-07-01 0.55
2017-04-01 0.39
2016-12-31 0.33
2016-10-01 -0.27
2016-07-02 -0.71
2016-04-02 -0.75

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Vishay Intertechnology will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Vishay Intertechnology's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Vishay Intertechnology has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VSH Past Performance

  How has Vishay Intertechnology performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Vishay Intertechnology's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Vishay Intertechnology's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Vishay Intertechnology has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Vishay Intertechnology has become profitable in the last year making it difficult to compare the US Electronic industry average.
Earnings and Revenue History
Vishay Intertechnology's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Vishay Intertechnology Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:VSH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,034.69 345.76 406.93
2018-09-29 2,936.41 65.68 397.99
2018-06-30 2,833.38 52.21 390.89
2018-03-31 2,715.52 5.30 372.42
2017-12-31 2,599.37 -20.34 366.25
2017-09-30 2,496.73 108.57 358.29
2017-07-01 2,410.74 80.60 357.41
2017-04-01 2,357.63 57.50 358.09
2016-12-31 2,317.33 48.79 361.24
2016-10-01 2,308.54 -40.28 347.53
2016-07-02 2,277.24 -104.38 340.32
2016-04-02 2,277.66 -111.20 337.31
2015-12-31 2,300.49 -108.51 340.40
2015-10-03 2,355.32 58.51 368.42
2015-07-04 2,432.88 113.14 374.48
2015-04-04 2,484.34 122.52 382.14
2014-12-31 2,493.28 117.63 366.40
2014-09-27 2,498.69 118.44 367.75
2014-06-28 2,463.37 124.19 364.85
2014-03-29 2,419.10 119.86 360.73
2013-12-31 2,370.98 122.98 368.54
2013-09-28 2,285.38 113.93 346.04
2013-06-29 2,255.27 103.50 338.79
2013-03-30 2,245.80 117.86 339.13
2012-12-31 2,230.10 122.74 334.87
2012-09-29 2,250.92 132.72 340.89
2012-06-30 2,315.79 160.92 348.50
2012-03-31 2,437.43 197.35 347.98

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Vishay Intertechnology has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Vishay Intertechnology used its assets more efficiently than the US Electronic industry average last year based on Return on Assets.
  • Vishay Intertechnology has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vishay Intertechnology's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Vishay Intertechnology has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VSH Health

 How is Vishay Intertechnology's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Vishay Intertechnology's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vishay Intertechnology is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Vishay Intertechnology's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Vishay Intertechnology's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Vishay Intertechnology Company Filings, last reported 2 months ago.

NYSE:VSH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,384.67 494.53 764.32
2018-09-29 1,458.69 588.59 1,063.11
2018-06-30 1,385.79 679.72 1,149.75
2018-03-31 1,515.11 406.44 1,340.81
2017-12-31 1,432.40 370.47 1,295.17
2017-09-30 1,602.74 356.96 1,243.57
2017-07-01 1,723.78 350.34 1,187.20
2017-04-01 1,619.75 378.66 1,138.27
2016-12-31 1,570.96 357.03 1,098.41
2016-10-01 1,709.38 361.57 1,119.90
2016-07-02 1,680.90 335.15 1,021.28
2016-04-02 1,682.73 400.13 1,075.62
2015-12-31 1,628.04 436.74 1,094.55
2015-10-03 1,783.73 431.78 1,079.29
2015-07-04 1,813.49 427.31 1,062.00
2015-04-04 1,779.03 470.92 1,056.05
2014-12-31 1,830.88 444.07 1,106.95
2014-09-27 1,822.39 531.99 1,113.41
2014-06-28 1,918.63 386.83 1,173.99
2014-03-29 1,896.55 361.97 1,150.12
2013-12-31 1,878.20 364.91 1,151.58
2013-09-28 1,794.39 359.88 1,090.57
2013-06-29 1,676.86 406.23 1,027.70
2013-03-30 1,635.32 394.53 984.98
2012-12-31 1,628.24 392.94 992.54
2012-09-29 1,632.28 389.05 941.13
2012-06-30 1,577.51 462.29 948.28
2012-03-31 1,670.01 389.54 922.95
  • Vishay Intertechnology's level of debt (35.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (19.4% vs 35.7% today).
  • Debt is well covered by operating cash flow (52.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19x coverage).
X
Financial health checks
We assess Vishay Intertechnology's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Vishay Intertechnology has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VSH Dividends

 What is Vishay Intertechnology's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.72%
Current annual income from Vishay Intertechnology dividends. Estimated to be 1.73% next year.
If you bought $2,000 of Vishay Intertechnology shares you are expected to receive $34 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Vishay Intertechnology's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • Vishay Intertechnology's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:VSH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:VSH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.35 3.00
2019-12-31 0.34 3.00
NYSE:VSH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-14 0.340 1.600
2018-10-29 0.340 1.786
2018-08-21 0.340 1.670
2018-05-07 0.340 1.453
2018-02-15 0.270 1.455
2017-11-15 0.270 1.270
2017-08-22 0.250 1.286
2017-05-23 0.250 1.468
2017-02-16 0.250 1.540
2016-11-14 0.250 1.562
2016-08-22 0.250 1.782
2016-05-24 0.250 1.927
2016-02-16 0.250 2.070
2015-11-10 0.240 2.114
2015-08-11 0.240 2.336
2015-05-19 0.240 2.010
2015-02-20 0.240 1.776
2014-11-05 0.240 1.744
2014-08-07 0.240 1.646
2014-05-21 0.240 1.586
2014-02-04 0.240 1.670

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Vishay Intertechnology has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Vishay Intertechnology only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Vishay Intertechnology's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (6.4x coverage).
X
Income/ dividend checks
We assess Vishay Intertechnology's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Vishay Intertechnology afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vishay Intertechnology has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VSH Management

 What is the CEO of Vishay Intertechnology's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Gerald Paul
COMPENSATION $6,335,047
AGE 69
TENURE AS CEO 14.2 years
CEO Bio

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 January 1, 2005 and its President since March 16, 1998. He serves as Chief Operating Officer of Vishay Sprague Sanford Inc. and as President of Vishay Vitramon, Incorporated. Dr. Paul has been Managing Director of Vishay Electronic GmbH, a subsidiary of Vishay Intertechnology Inc. since January 1991. He served as Chief Technical Officer of Vishay Intertechnology Inc. from June 6, 2011 to July 31, 2011. He served as Chief Operating Officer of Vishay Intertechnology Inc. from August 16, 1996 to 2006 and served as its Executive Vice President from August 1996 to March 1998 and was a Vice President from May 1993 to August 1996. In addition, Dr. Paul was the President of Vishay Electronic Components, Europe from January 1994 to August 1996. He has been employed by Vishay and Draloric since February 1978. He has been a Director of Vishay Intertechnology Inc. since May 1993. Dr. Paul serves as Director of Vishay Semiconductor GmbH.

CEO Compensation
  • Gerald's compensation has increased in line with Vishay Intertechnology recently becoming profitable.
  • Gerald's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Vishay Intertechnology management team in years:

7.6
Average Tenure
60
Average Age
  • The average tenure for the Vishay Intertechnology management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Marc Zandman

TITLE
Executive Chairman & Chief Business Development Officer
COMPENSATION
$6M
AGE
56
TENURE
7.8 yrs

Gerald Paul

TITLE
CEO, President & Director
COMPENSATION
$6M
AGE
69
TENURE
14.2 yrs

Lori Lipcaman

TITLE
Executive VP & CFO
COMPENSATION
$1M
AGE
60
TENURE
7.5 yrs

Johan Vandoorn

TITLE
Executive VP & CTO
COMPENSATION
$1M
AGE
61
TENURE
7.6 yrs

Clarence Tse

TITLE
Executive VP & Business Head of Semiconductors
COMPENSATION
$1M
AGE
60
TENURE
2.2 yrs

Michael O’Sullivan

TITLE
Senior VP

Peter Henrici

TITLE
Senior VP of Corporate Communications & Corporate Secretary

David Valletta

TITLE
Executive Vice President of Worldwide Sales
COMPENSATION
$900K
AGE
57
TENURE
12.2 yrs

Werner Gebhardt

TITLE
Executive Vice President of Global Human Resources
AGE
59
TENURE
2.2 yrs

David Tomlinson

TITLE
Senior VP & Corporate Controller
Board of Directors Tenure

Average tenure and age of the Vishay Intertechnology board of directors in years:

12.5
Average Tenure
69.5
Average Age
  • The average tenure for the Vishay Intertechnology board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Gerald Paul

TITLE
CEO, President & Director
COMPENSATION
$6M
AGE
69
TENURE
25.8 yrs

Abraham Ludomirski

TITLE
Independent Director
COMPENSATION
$238K
AGE
66
TENURE
16.2 yrs

Marc Zandman

TITLE
Executive Chairman & Chief Business Development Officer
COMPENSATION
$6M
AGE
56
TENURE
7.8 yrs

Thomas Wertheimer

TITLE
Independent Director
COMPENSATION
$253K
AGE
78
TENURE
14.8 yrs

Tim Talbert

TITLE
Director
COMPENSATION
$233K
AGE
70
TENURE
6.2 yrs

Ziv Shoshani

TITLE
Director
COMPENSATION
$218K
AGE
51
TENURE
18.2 yrs

Ruta Zandman

TITLE
Non-Employee Director
COMPENSATION
$368K
AGE
80
TENURE
18.2 yrs

Ronald Ruzic

TITLE
Director
COMPENSATION
$233K
AGE
79
TENURE
10.2 yrs

Frank Maier

TITLE
Director
COMPENSATION
$233K
AGE
80
TENURE
8.9 yrs

Raanan Zilberman

TITLE
Independent Director
COMPENSATION
$219K
AGE
56
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • Vishay Intertechnology insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Mar 19 Sell Frank Maier Individual 04. Mar 19 04. Mar 19 -6,421 $21.75 $-139,657
05. Mar 19 Sell Marc Zandman Individual 28. Feb 19 28. Feb 19 -85,361 $21.88 $-1,867,699
05. Mar 19 Sell Gerald Paul Individual 28. Feb 19 28. Feb 19 -66,000 $21.77 $-1,436,820
13. Dec 18 Sell Ziv Shoshani Individual 12. Dec 18 12. Dec 18 -3,520 $20.23 $-71,219
11. Dec 18 Sell Thomas Wertheimer Individual 10. Dec 18 10. Dec 18 -15,000 $19.70 $-295,500
13. Sep 18 Sell Thomas Wertheimer Individual 12. Sep 18 12. Sep 18 -10,000 $20.88 $-208,800
13. Sep 18 Sell Timothy Talbert Individual 13. Sep 18 13. Sep 18 -5,000 $21.37 $-106,850
X
Management checks
We assess Vishay Intertechnology's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Vishay Intertechnology has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VSH News

Simply Wall St News

Why Vishay Intertechnology, Inc. (NYSE:VSH) Looks Like A Quality Company

We'll use ROE to examine Vishay Intertechnology, Inc. … That means that for every $1 worth of shareholders' equity, it generated $0.25 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Does Vishay Intertechnology, Inc.'s (NYSE:VSH) CEO Salary Compare Well With Others?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Gerald Paul's Compensation Compare With Similar Sized Companies. … has a market cap of US$3.2b, and is paying total annual CEO compensation of US$6.3m.

Simply Wall St -

Vishay Intertechnology, Inc. (NYSE:VSH) Is Employing Capital Very Effectively

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Don't Sell Vishay Intertechnology, Inc. (NYSE:VSH) Before You Read This

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Vishay Intertechnology, Inc.'s (NYSE:VSH) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Estimating The Fair Value Of Vishay Intertechnology, Inc. (NYSE:VSH)

Does the January share price for Vishay Intertechnology, Inc. … Today, I will calculate the stock's intrinsic value. … by estimating the company's future cash flows and discounting them to their present value.

Simply Wall St -

Read This Before Buying Vishay Intertechnology, Inc. (NYSE:VSH) Shares

The Last 12 Months Of Insider Transactions At Vishay Intertechnology. … So we know that an insider sold shares at around the present share price of US$17.08. … All up, insiders sold more shares in Vishay Intertechnology than they bought, over the last year

Simply Wall St -

Is Vishay Intertechnology, Inc.'s (NYSE:VSH) Balance Sheet Strong Enough To Weather A Storm?

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Vishay Intertechnology, Inc. … VSH’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself.

Simply Wall St -

What Is Vishay Intertechnology, Inc.'s (NYSE:VSH) Share Price Doing?

(NYSE:VSH), which is in the electronic business, and is based in United States,. … As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s take a look at Vishay Intertechnology’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

Vishay Intertechnology Inc (NYSE:VSH): Ex-Dividend Is In 4 Days

Vishay Intertechnology Inc (NYSE:VSH) will be distributing its dividend of US$0.085 per share on the 20 December 2018, and will start trading ex-dividend in 4 days time on the 05 December 2018. … Below, I will explain how holding Vishay Intertechnology can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

How Does Vishay Intertechnology Inc (NYSE:VSH) Fare As A Dividend Stock?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Vishay Intertechnology Inc (NYSE:VSH) has been paying a dividend to shareholders. … Let's take a look at Vishay Intertechnology in more detail.

Simply Wall St -

VSH Company Info

Description

Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive components in the United States, Europe, and Asia. The Metal Oxide Semiconductor Field Effect Transistors (MOSFETs) segment offers low- and medium-voltage TrenchFET MOSFETs, high-voltage planar MOSFETs, high voltage super junction MOSFETs, power integrated circuits, and integrated function power devices. The Diodes segment provides rectifiers, small signal diodes, protection diodes, thyristors or 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 & Inductors segment provides film, wirewound, power metal strip, 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, temperature sensors, magnetics, and connectors. The Capacitors segment offers tantalum, ceramic, film, power, heavy-current, and aluminum electrolytic 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. It serves industrial, computing, automotive, consumer, telecommunications, power supplies, military/aerospace, and medical industries. Vishay Intertechnology, Inc. was founded in 1962 and is based in Malvern, Pennsylvania.

Details
Name: Vishay Intertechnology, Inc.
VSH
Exchange: NYSE
Founded: 1962
$2,860,398,120
144,318,775
Website: http://www.vishay.com
Address: Vishay Intertechnology, Inc.
63 Lancaster Avenue,
Malvern,
Pennsylvania, 19355,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE VSH Common Stock New York Stock Exchange US USD 15. May 1974
DB VHY Common Stock Deutsche Boerse AG DE EUR 15. May 1974
Number of employees
Current staff
Staff numbers
24,100
Vishay Intertechnology employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 23:48
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/02/07
Last earnings filing: 2019/02/15
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.