Vishay Intertechnology, Inc. (VSH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-83.9%

$4.25

vs $26.40 price

Levered DCF

-$2.15

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.45

Grey zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-219.21×	-73.65×	10.33×	7.21×	10.67×	24.36×	18.84×	8.04×
P/B	0.94×	1.14×	1.52×	1.51×	1.82×	1.9×	2.07×	2.01×
P/S	0.64×	0.79×	0.98×	0.88×	0.98×	1.2×	1.15×	0.92×
EV / EBITDA	9.07×	11.69×	4.9×	4.02×	4.81×	8.1×	7.03×	4.08×
Gross margin	19.4%	21.3%	28.6%	30.3%	27.4%	23.3%	25.2%	29.3%
Operating margin	1.9%	0.2%	14.3%	17.6%	14.4%	8.4%	9.8%	16.0%
Net margin	-0.3%	-1.1%	9.5%	12.3%	9.2%	4.9%	6.1%	11.4%
Current ratio	2.62×	2.7×	3.32×	2.92×	2.9×	3.02×	3.27×	2.77×
Debt / equity	0.56×	0.51×	0.43×	0.31×	0.33×	0.32×	0.4×	0.36×
Interest coverage	1.47×	0.2×	19.34×	35.93×	26.67×	6.65×	7.79×	13.23×
Dividend yield	2.5%	2.4%	1.7%	1.8%	1.8%	1.8%	1.7%	1.7%
Payout ratio	-550.2%	-175.5%	17.2%	13.3%	18.7%	44.7%	32.6%	13.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-0.4%	-1.5%	14.7%	21.0%	17.1%	7.8%	11.0%	25.0%
Return on invested capital	-0.6%	0.2%	9.5%	14.1%	11.2%	6.3%	7.3%	16.4%
Return on assets	-0.2%	-0.8%	7.6%	11.1%	8.4%	3.9%	5.3%	11.1%
Free cash flow yield	-4.5%	-6.3%	1.1%	5.1%	7.5%	6.4%	4.5%	1.0%
Earnings yield	-0.5%	-1.3%	9.7%	13.9%	9.4%	4.1%	5.3%	12.4%
Enterprise value	$2.6B	$2.8B	$3.3B	$3.1B	$3B	$2.9B	$3B	$2.6B
Net debt / EBITDA	2.26×	1.84×	-0.04×	0.03×	-0.32×	-0.33×	-0.23×	-0.3×
Cash conversion cycle (days)	126	125	114	108	88	97	92	92