VSH earnings analysis
What we found in VSH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Vishay Intertechnology reported solid Q1 2026 results, with revenues of $839.2 million and EPS of $0.05, both surpassing market expectations. The company experienced significant revenue growth compared to prior periods driven by increased sales volume and improved margins despite challenges from rising costs.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Increased to $839.2M
- Net revenues rose by 4.8% from $800.9M in the prior quarter and 17.3% from $715.2M in the prior year.
- Gross Margin Improved to 21.0%
- Gross margin increased from 19.6% in the prior quarter and 19.0% in the prior year.
- Positive EPS of $0.05
- Diluted EPS improved from a loss of $0.01 in the prior quarter and a loss of $0.03 in the prior year.
- MOSFET Segment Revenues Up 22.4%
- Net revenues in the MOSFETs segment increased to $173.99M from $142.11M in the prior year.
- Diodes Segment Revenue Increased by 16.1%
- The Diodes segment saw revenues of $163.67M, up from $140.96M in the previous year.
- Strong Cash Flow from Operations
- Operating cash flow was $63.7M compared to $16.1M in the prior year.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Negative Free Cash Flow
- Free cash flow for Q1 2026 was -$46.93M, a decline from $54.87M in the prior quarter.
- High Capital Expenditures Affecting Cash Flow
- Capex for Q1 2026 reached $110.66M, significantly higher than $61.57M in the prior year.
- Economic Uncertainty Impacting Demand
- Management cites global economic conditions as a continuing risk to revenue stability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.05
- Gross margin
- 21.0%
- Operating margin
- 2.6%
- Segment
- MOSFETs
- Segment
- Diodes
- Segment
- Optoelectronic Components
- Segment
- Resistors
- Segment
- Inductors
- Segment
- Capacitors
What they said about what is next.
Management expects Q2 2026 revenues between $875M and $905M with gross margins around 22%.
The filing reads better than the one before it.
What came before.
- 10-K · February 13, 2026
- Vishay 2025 10-K reiterates the Vishay 3.0 strategy: multi‑year capacity expansion (internal and external), increased R&D/technical headcount, and targeted M&A to capture electrification, A.I., and 5G opportunities. The…
- 10-K · February 14, 2025
- Vishay positions itself as a broad, long-standing leader in discrete semiconductors and passive components and is executing a multi-year capacity expansion and product-innovation plan under its 'Vishay 3.0' strategy…
- 10-Q · November 6, 2024
- Vishay reported Q3 revenue of $735,353,000 and a GAAP diluted loss per share of $(0.14), a material decline versus the year-ago quarter. Gross profit fell to $150,883,000 and the company recorded a $40,614,000…
- 10-Q · November 8, 2023
- Vishay reported quarterly revenue of $853,653,000 (down from $924,798,000 a year ago) and diluted EPS of $0.47 (down from $0.98). Liquidity improved materially — cash and cash equivalents rose to $1,095,119,000 — while…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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