Form 8-K
8-K — VISHAY INTERTECHNOLOGY INC
Accession: 0000103730-26-000064
Filed: 2026-08-05
Period: 2026-08-05
CIK: 0000103730
SIC: 3670 (ELECTRONIC COMPONENTS & ACCESSORIES)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — vsh-20260805.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (exhibit99-1.htm)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K — CURRENT REPORT
8-K (Primary)
Filename: vsh-20260805.htm · Sequence: 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported) August 5, 2026
Vishay Intertechnology, Inc.
(Exact name of registrant as specified in its charter)
Delaware
1-7416
38-1686453
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification Number)
63 Lancaster Avenue
Malvern, PA
19355-2143
(Address of Principal Executive Offices)
Zip Code
Registrant's telephone number, including area code 610-644-1300
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of exchange on which registered
Common stock, par value $0.10 per share
VSH
New York Stock Exchange
1
Item 2.02 – Results of
Operations and Financial Condition
On
August 5, 2026, Vishay Intertechnology, Inc. ("the Company") issued
a press release announcing its financial results for the fiscal quarter and
six fiscal months ended July 4, 2026. A copy of the press release is
attached as Exhibit 99.1 to this report.
Item 7.01 – Regulation FD
Disclosure
Computational Guidance on
Earnings Per Share Estimates
The
Company frequently receives questions from analysts and stockholders regarding
its diluted earnings per share ("EPS") computation. The
information furnished in this Form 8-K provides additional information on the
impact of key variables on the EPS computation, particularly as they relate to
the third fiscal quarter of 2026.
Accounting
principles require that EPS be computed based on the weighted average shares
outstanding ("basic"), and also assuming the issuance of potentially
issuable shares (such as those subject to equity awards and convertible debt)
if those potentially issuable shares would reduce EPS ("diluted").
The
number of shares related to equity awards included in diluted EPS is based on
the "Treasury Stock Method" prescribed in Financial Accounting
Standards Board ("FASB") ASC Topic 260, Earnings Per Share
("FASB ASC Topic 260"). This method assumes a theoretical
repurchase of shares using the unrecognized compensation expense and any other
proceeds at a price equal to the issuer's average stock price during the
related earnings period. Accordingly, the number of shares
includable in the calculation of diluted EPS in respect of equity awards is
dependent on this average stock price and will increase as the average stock
price increases. This method is also utilized for net share settlement
debt.
The
number of shares includable in the calculation of diluted EPS in respect of
conventional convertible or exchangeable securities is based on the "If
Converted Method" prescribed in FASB ASC Topic 260. This method
assumes the conversion or exchange of these securities for shares of common
stock.
Pursuant to the indenture governing the senior convertible notes due 2030 (the "2030 Notes"), Vishay is required to pay the principal amount of the senior convertible debt instruments in cash. Vishay, at its option, will settle any additional value in cash, common stock, or a combination of both.
The 2030 Notes will be included in the diluted EPS computation using the "If Converted Method," but with no adjustment for interest expense.
The following estimates of shares expected to be used in the calculation of diluted EPS consider the number of the Company's shares currently outstanding and the Company's convertible securities currently outstanding and their exercise and conversion features currently in effect. The Company adjusts its calculation for the estimated effect of expected quarterly activity. The estimates assume no share or convertible debt instrument repurchases during the third fiscal quarter of 2026. Changes in these parameters or estimates could have a material impact on the calculation of diluted EPS.
2
The following
estimates of shares expected to be used in the calculation of diluted EPS
should be read in conjunction with the information on earnings per share in the
Company's filings on Form 10-Q and Form 10-K. These estimates are
unaudited and are not necessarily indicative of the shares used in the diluted
EPS computation for any prior period. The estimates below are not
necessarily indicative of the shares to be used in the quarterly diluted EPS
computation for any period subsequent to the third fiscal quarter of
2026. The Company assumes no duty to revise these estimates as a result
of changes in the parameters on which they are based or any changes in
accounting principles. Also, the presentation is not intended as a
forecast of EPS values or share prices of the Company's common stock for any
period.
For the third fiscal quarter of
2026:
•
The
Company has approximately 153 million shares issued and outstanding, including
shares of common stock and class B common stock.
•
The
number of shares included in diluted EPS related to restricted stock units
does not vary significantly and is generally less than 5 million incremental
shares.
•
The
Company's Convertible Senior Notes due 2030 are convertible at a conversion
price of $30.16 per $1,000 principal amount, equivalent to 33.1609 shares per
$1,000 principal amount. There is $750 million principal amount of
the notes outstanding. The number of shares of common stock that Vishay will
include in its diluted earnings per share computation, assuming an average
market price for Vishay common stock in excess of the conversion price, will
be determined in accordance with the following formula:
S = [$750,000,000 / $1000] * [(P - $30.16) * 33.1609] / P
where
S =
the number of shares to be included in diluted EPS, and
P =
the average market price of Vishay common stock for the quarter.
If
the average market price is less than $30.16, no shares will be included in
the diluted earnings per share computation.
Accordingly, the
following table summarizes the approximate number of shares to be included in
the denominator of the diluted EPS calculation assuming net earnings
attributable to Vishay stockholders for various average stock prices (number
of shares in millions):
Average Stock Price
Projected Diluted Shares
$
<30.16
157
$
35.00
161
$
40.00
164
$
45.00
166
$
50.00
168
$
55.00
169
$
60.00
170
$
65.00
171
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
Exhibit No.
Description
99.1
Press release dated August 5, 2026.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
3
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
Date: August 5, 2026
VISHAY INTERTECHNOLOGY, INC.
By:
/s/ David L. Tomlinson
Name:
David L. Tomlinson
Title:
Senior Vice President – Chief Accounting Officer
0000103730
false
0000103730
2026-08-05
2026-08-05
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: exhibit99-1.htm · Sequence: 5
Exhibit 99.1
Vishay Intertechnology Reports Second Quarter
2026 Results
Malvern, PA, August 5, 2026 –
Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest
manufacturers of discrete semiconductors and passive electronic components,
today announced results for the fiscal second quarter ended July 4, 2026.
Highlights
2Q 2026 GAAP revenues of $888.6 million; adjusted revenues of $918.6 million
GAAP revenues reduced by $30.0 million of tariff refunds passed through to customers, with no impact on gross profit
Gross margin was 23.3%; adjusted gross margin was 22.6%
Operating margin was 6.0%; adjusted operating margin was 5.8%
2Q 2026 diluted EPS of $0.19
2Q 2026 book-to-bill of 1.32 with book-to-bill of 1.23 for semiconductors and 1.40 for passive components
Backlog at quarter end was 6.1 months
“For the second quarter, Vishay delivered 9.5%
sequential growth to adjusted revenue of $919 million, exceeding the top end of
our revenue guidance and representing continued strengthening demand across all
end markets, channels and regions,” said Joel Smejkel, president and CEO. “Executing
as a new company, Vishay 3.0 is focused on supplying our increasing customer
count and taking full advantage of the upcycle, outpacing industry growth, while
laying the foundation to leverage multi-year demand across all end markets for
sustained growth, expanded margins and enhanced stockholder returns.”
3Q 2026 Outlook
For
the third quarter of 2026, management expects revenues in the range of $945 million and $975 million and a gross profit margin in the range of 24.0% +/- 50
basis points.
Conference Call
A conference call to discuss
Vishay’s second quarter financial results is scheduled for
Wednesday, August 5, 2026, at 9:00 a.m.
ET. To participate in the live conference call, please pre-register
here. Upon
registering, you will be emailed a dial-in number, and unique
PIN.
A live audio webcast of the conference call and a
PDF copy of the press release and the quarterly presentation will be accessible
directly from the Investor Relations section of the Vishay website at
http://ir.vishay.com.
There will be a replay of the
conference call available on the Investor Relations website
approximately one hour following the call and will remain
available for 30 days.
1
About Vishay
Vishay
manufactures one of the world’s largest portfolios of discrete semiconductors
and passive electronic components that are essential to innovative designs in
the automotive, industrial, computing, consumer, telecommunications, military,
aerospace, and healthcare markets. Serving customers worldwide, Vishay is The DNA of
tech®.
Vishay
Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More
on Vishay at www.Vishay.com.
This press release includes
certain financial measures which are not recognized in accordance with U.S.
generally accepted accounting principles ("GAAP"), including adjusted net earnings; adjusted earnings per share; adjusted net revenues; adjusted gross margin; adjusted operating margin; free
cash; earnings before interest, taxes, depreciation and amortization
("EBITDA"); adjusted EBITDA; and adjusted EBITDA margin; which are considered "non-GAAP
financial measures" under the U.S. Securities and Exchange Commission
rules. These non-GAAP measures supplement our GAAP measures of performance or
liquidity and should not be viewed as an alternative to GAAP measures of
performance or liquidity. Non-GAAP measures such as adjusted net earnings, adjusted earnings per share, adjusted net revenues, adjusted gross margin, adjusted operating margin, free cash, EBITDA, adjusted EBITDA, and adjusted EBITDA margin do not have uniform definitions. These measures, as calculated by
Vishay, may not be comparable to similarly titled measures used by other
companies. Management believes that such measures are meaningful to investors
because they provide insight with respect to intrinsic operating results and financial trends of the
Company. Although the terms "free cash" and "EBITDA" are
not defined in GAAP, the measures are derived using various line items measured
in accordance with GAAP. Reconciling items to arrive at adjusted net earnings represent significant charges or credits that are important to understanding the Company's intrinsic operations. Reconciling items to calculate adjusted net revenues, adjusted gross margin, adjusted operating margin, and adjusted EBITDA represent those same items used in computing adjusted net earnings, as relevant. Furthermore, the presented calculation of adjusted EBITDA is substantially similar to, but not identical to, a measure used in the calculation of financial ratios required for covenant compliance under Vishay's revolving credit facility. These reconciling items are indicated on the accompanying reconciliation schedules
and are more fully described in the Company’s financial statements presented in
its annual report on Form 10-K and its quarterly reports presented on Forms
10-Q.
Statements contained herein that relate to
the Company's future performance, including forecasted revenues and margins,
capacity expansion, multi-year customer demand, stockholder returns, and the
performance of the economy in general, are forward-looking statements within
the safe harbor provisions of Private Securities Litigation Reform Act of 1995.
Words and expressions such as “will,” “expect,” “going forward” or other
similar words or expressions often identify forward-looking statements. Such
statements are based on current expectations only, and are subject to certain
risks, uncertainties and assumptions, many of which are beyond our control.
Should one or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results, performance, or
achievements may vary materially from those anticipated, estimated or
projected. Among the factors that could cause actual results to materially
differ include: general business and economic conditions; manufacturing or
supply chain interruptions or changes in customer demand; delays or
difficulties in implementing our cost reduction strategies; delays or
difficulties in expanding our manufacturing capacities; an inability to attract
and retain highly qualified personnel; changes in foreign currency exchange
rates; uncertainty related to the effects of changes in foreign currency
exchange rates; competition and technological changes in our industries;
difficulties in new product development; difficulties in identifying suitable
acquisition candidates, consummating a transaction on terms which we consider
acceptable, and integration and performance of acquired businesses; changes in
U.S. and foreign trade regulations and tariffs, and uncertainty regarding the
same; volatility in prices for metals and materials; changes in applicable domestic and foreign tax regulations,
and uncertainty regarding the same; changes in applicable accounting standards
and other factors affecting our operations that are set forth in our filings with
the Securities and Exchange Commission, including our annual reports on Form
10-K and our quarterly reports on Form 10-Q. We undertake no obligation to
publicly update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
The DNA of tech® is a trademark of Vishay
Intertechnology.
Contact:
Vishay Intertechnology, Inc.
Peter Henrici
Executive Vice President, Corporate Development
+1-610-644-1300
2
VISHAY INTERTECHNOLOGY, INC.
Summary of Operations
(Unaudited - In thousands, except per share amounts)
Fiscal quarters ended
July 4, 2026 April 4, 2026 June 28, 2025
Net revenues(a) $ 888,575 $ 839,242 $ 762,250
Costs of products sold(b) 681,193 662,630 613,567
Gross profit 207,382 176,612 148,683
Gross margin 23.3 % 21.0 % 19.5 %
Selling, general, and administrative expenses(c) 153,856 154,488 126,565
Operating income 53,526 22,124 22,118
Operating margin 6.0 % 2.6 % 2.9 %
Other income (expense):
Interest expense (10,333 ) (9,973 ) (10,588 )
Other (794 ) 701 747
Total other income (expense) - net (11,127 ) (9,272 ) (9,841 )
Income before taxes 42,399 12,852 12,277
Income tax expense 14,275 5,688 10,273
Net earnings $ 28,124 $ 7,164 $ 2,004
Basic earnings per share $ 0.21 $ 0.05 $ 0.01
Diluted earnings per share $ 0.19 $ 0.05 $ 0.01
Weighted average shares outstanding - basic 136,824 136,045 135,702
Weighted average shares outstanding - diluted 147,901 137,471 136,167
Cash dividends per share $ 0.10 $ 0.10 $ 0.10
(a) Net revenues for the fiscal quarter ended July 4, 2026 are reduced by ($30,008) for tariff refunds passed through to customers, with no impact on gross profit.
(b) Costs of product sold for the fiscal quarter ended July 4, 2026 are reduced by ($30,008) for tariff refunds received from the U.S. government, with no impact on gross profit.
(c) Selling, general, and administrative expenses for the fiscal quarter ended June 28, 2025 include a ($11,293) benefit recognized upon the favorable resolution of a contingency.
3
VISHAY INTERTECHNOLOGY, INC.
Summary of Operations
(Unaudited - In thousands, except per share amounts)
Six fiscal months ended
July 4, 2026 June 28, 2025
Net revenues(d) $ 1,727,817 $ 1,477,486
Costs of products sold(e) 1,343,823 1,193,249
Gross profit 383,994 284,237
Gross margin 22.2 % 19.2 %
Selling, general, and administrative expenses(f) 308,344 261,304
Operating income 75,650 22,933
Operating margin 4.4 % 1.6 %
Other income (expense):
Interest expense (20,306 ) (19,378 )
Other (93 ) 4,494
Total other income (expense) - net (20,399 ) (14,884 )
Income before taxes 55,251 8,049
Income tax expense 19,963 10,137
Net earnings (loss) $ 35,288 $ (2,088 )
Basic earnings (loss) per share attributable to Vishay stockholders $ 0.26 $ (0.02 )
Diluted earnings (loss) per share attributable to Vishay stockholders $ 0.25 $ (0.02 )
Weighted average shares outstanding - basic 136,428 135,750
Weighted average shares outstanding - diluted 142,680 135,750
Cash dividends per share $ 0.20 $ 0.20
(d) Net revenues for the six fiscal months ended July 4, 2026 are reduced by ($30,008) for tariff refunds passed through to customers, with no impact on gross profit.
(e) Costs of product sold for the six fiscal months ended July 4, 2026 are reduced by ($30,008) for tariff refunds received from the U.S. government, with no impact on gross profit.
(f) Selling, general, and administrative expenses for the six fiscal months ended June 28, 2025 include a ($11,293) benefit recognized upon the favorable resolution of a contingency.
4
VISHAY INTERTECHNOLOGY, INC.
Consolidated Condensed Balance Sheets
(Unaudited - In thousands)
July 4, 2026 December 31, 2025
Assets
Current assets:
Cash and cash equivalents $ 1,297,309 $ 514,966
Short-term investments 5,263 265
Accounts receivable, net 393,373 381,802
Inventories:
Finished goods 184,960 182,444
Work in process 360,965 331,347
Raw materials 261,186 245,412
Total inventories 807,111 759,203
Prepaid expenses and other current assets 221,811 231,004
Total current assets 2,724,867 1,887,240
Property and equipment, at cost:
Land 85,711 86,399
Buildings and improvements 841,294 839,856
Machinery and equipment 3,505,644 3,477,884
Construction in progress 558,131 464,475
Allowance for depreciation (3,241,135 ) (3,195,455 )
1,749,645 1,673,159
Right of use assets 122,630 119,746
Deferred income taxes 190,381 183,016
Goodwill 180,027 180,390
Other intangible assets, net 71,266 78,487
Other assets 117,550 112,122
Total assets $ 5,156,366 $ 4,234,160
5
VISHAY INTERTECHNOLOGY, INC.
Consolidated Condensed Balance Sheets (continued)
(Unaudited - In thousands)
July 4, 2026 December 31, 2025
Liabilities and equity
Current liabilities:
Trade accounts payable $ 237,482 $ 214,984
Payroll and related expenses 179,479 164,114
Lease liabilities 28,241 26,546
Other accrued expenses 310,238 300,031
Income taxes 18,757 14,751
Current portion of long-term debt 737,744 -
Total current liabilities 1,511,941 720,426
Long-term debt less current portion 234,543 950,893
Deferred income taxes 97,488 96,818
Long-term lease liabilities 96,583 95,799
Other liabilities 136,668 109,228
Accrued pension and other postretirement costs 166,246 172,723
Total liabilities 2,243,469 2,145,887
Equity:
Vishay stockholders' equity
Common stock 14,129 12,351
Class B convertible common stock 1,210 1,210
Capital in excess of par value 1,945,629 1,101,086
Retained earnings 900,268 892,232
Accumulated other comprehensive income 51,661 81,394
Total equity 2,912,897 2,088,273
Total liabilities and equity $ 5,156,366 $ 4,234,160
6
VISHAY INTERTECHNOLOGY, INC.
Consolidated Condensed Statements of Cash Flows
(Unaudited - In thousands)
Six fiscal months ended
July 4, 2026 June 28, 2025
Operating activities
Net earnings (loss) $ 35,288 $ (2,088 )
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization 114,328 109,743
Loss on disposal of property and equipment 24 73
Inventory write-offs for obsolescence 21,883 17,456
Deferred income taxes (6,069 ) (6,034 )
Stock compensation expense 20,056 11,736
Other 79 (3,606 )
Change in U.S. transition tax liability - (47,027 )
Change in repatriation tax liability (2,000 ) (9,375 )
Changes in operating assets and liabilities (14,561 ) (63,571 )
Net cash provided by operating activities 169,028 7,307
Investing activities
Capital expenditures (205,862 ) (126,167 )
Proceeds from sale of property and equipment 221 494
Purchase of short-term investments (5,260 ) (28,481 )
Maturity of short-term investments 262 39,400
Other investing activities (381 ) (661 )
Net cash used in investing activities (211,020 ) (115,415 )
Financing activities
Proceeds from follow-on public offering, net of underwriting discounts and issuance costs 830,250 -
Principal payments on long-term debt - (41,911 )
Net proceeds on revolving credit facility 19,000 49,000
Dividends paid to common stockholders (24,805 ) (24,700 )
Dividends paid to Class B common stockholders (2,419 ) (2,419 )
Repurchase of common stock - (12,538 )
Cash withholding taxes paid when shares withheld for vested equity awards (4,013 ) (3,957 )
Other financing activities 10,000 10,078
Net cash provided by (used in) financing activities 828,013 (26,447 )
Effect of exchange rate changes on cash and cash equivalents (3,678 ) 18,129
Net increase (decrease) in cash and cash equivalents 782,343 (116,426 )
Cash and cash equivalents at beginning of period 514,966 590,286
Cash and cash equivalents at end of period $ 1,297,309 $ 473,860
7
VISHAY INTERTECHNOLOGY, INC.
Schedule of Adjusted Revenue, Gross Profit, and Gross Margin
(Unaudited - In thousands)
Fiscal quarter ended Six fiscal months ended
July 4, 2026 July 4, 2026
GAAP Adjusted(g) GAAP Adjusted(g)
Net revenues $ 888,575 $ 918,583 $ 1,727,817 $ 1,757,825
Gross profit 207,382 207,382 383,994 383,994
Gross margin 23.3 % 22.6 % 22.2 % 21.8 %
(g) Adjusted net revenues for the fiscal quarter and six fiscal months ended July 4, 2026 exclude $30,008 for tariff refunds passed through to customers, with no impact on gross profit. The tariff refunds are recognized as a reduction of Net revenues and Costs of products sold in the GAAP results. Adjusted gross margin is calculated using adjusted net revenues.
8
VISHAY INTERTECHNOLOGY, INC.
Reconciliation of Adjusted Earnings Per Share
(Unaudited - In thousands, except per share amounts)
Fiscal quarters ended Six fiscal months ended
July 4, 2026 April 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025
Net earnings (loss) $ 28,124 $ 7,164 $ 2,004 $ 35,288 $ (2,088 )
Reconciling items affecting net revenues:
Tariff refunds passed through to customers 30,008 - - 30,008 -
Other reconciling items affecting gross profit:
Tariff refunds received from U.S. government (30,008 ) - - (30,008 ) -
Other reconciling items affecting operating income:
Favorable resolution of contingency - - (11,293 ) - (11,293 )
Adjusted net earnings (loss) $ 28,124 $ 7,164 $ (9,289 ) $ 35,288 $ (13,381 )
Adjusted weighted average diluted shares outstanding 147,901 137,471 135,702 142,680 135,750
Adjusted earnings (loss) per diluted share $ 0.19 $ 0.05 $ (0.07 ) $ 0.25 $ (0.10 )
9
VISHAY INTERTECHNOLOGY, INC.
Reconciliation of Free Cash
(Unaudited - In thousands)
Fiscal quarters ended Six fiscal months ended
July 4, 2026 April 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025
Net cash provided by (used in) operating activities $ 105,359 $ 63,669 $ (8,791 ) $ 169,028 $ 7,307
Proceeds from sale of property and equipment 155 66 215 221 494
Less: Capital expenditures (95,201 ) (110,661 ) (64,598 ) (205,862 ) (126,167 )
Free cash $ 10,313 $ (46,926 ) $ (73,174 ) $ (36,613 ) $ (118,366 )
10
VISHAY INTERTECHNOLOGY, INC.
Reconciliation of EBITDA and Adjusted EBITDA
(Unaudited - In thousands)
Fiscal quarters ended Six fiscal months ended
July 4, 2026 April 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025
Net earnings (loss) $ 28,124 $ 7,164 $ 2,004 $ 35,288 $ (2,088 )
Interest expense 10,333 9,973 10,588 20,306 19,378
Interest income (4,088 ) (3,038 ) (4,023 ) (7,126 ) (7,900 )
Income taxes 14,275 5,688 10,273 19,963 10,137
Depreciation and amortization 56,117 58,211 55,970 114,328 109,743
EBITDA $ 104,761 $ 77,998 $ 74,812 $ 182,759 $ 129,270
Reconciling items
Tariff refunds passed through to customers 30,008 - - 30,008 -
Tariff refunds received from U.S. government (30,008 ) - - (30,008 ) -
Favorable resolution of contingency - - (11,293 ) - (11,293 )
Adjusted EBITDA $ 104,761 $ 77,998 $ 63,519 $ 182,759 $ 117,977
Adjusted EBITDA margin(h) 11.4 % 9.3 % 8.3 % 10.4 % 8.0 %
(h) Adjusted EBITDA as a percentage of adjusted net revenues
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Entity File Number
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Entity Tax Identification Number
38-1686453
Entity Address, Address Line One
63 Lancaster Avenue
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City Area Code
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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
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Period Type:
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X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
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Data Type:
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Period Type:
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