Latest Ratios: P/E Ratio -638.3x · EV/EBITDA 22.7x · ROE -0.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.7B | $2.0B | $2.3B | $3.4B | $3.1B | $3.2B | $3.0B | $3.1B | $2.8B | $3.0B | $2.4B |
| Enterprise Value | $6.4B | $2.6B | $2.8B | $3.3B | $3.1B | $3.0B | $2.9B | $3.0B | $2.6B | $2.6B | $2.3B |
| P/E Ratio → | -638.28 | — | — | 10.38 | 7.24 | 10.67 | 24.36 | 18.84 | 8.04 | — | 50.63 |
| P/S Ratio | 1.87 | 0.64 | 0.79 | 0.99 | 0.89 | 0.98 | 1.20 | 1.16 | 0.92 | 1.16 | 1.05 |
| P/B Ratio | 2.74 | 0.94 | 1.14 | 1.53 | 1.51 | 1.82 | 1.90 | 2.08 | 2.01 | 1.80 | 1.47 |
| P/FCF | — | — | — | 92.63 | 19.53 | 13.33 | 15.72 | 22.10 | 97.34 | 15.24 | 15.13 |
| P/OCF | 31.16 | 10.67 | 13.36 | 9.19 | 6.41 | 6.96 | 9.55 | 10.42 | 10.77 | 8.19 | 8.25 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.85 | 0.94 | 0.98 | 0.89 | 0.92 | 1.16 | 1.12 | 0.85 | 1.02 | 1.00 |
| EV / EBITDA | 22.71 | 9.31 | 12.74 | 4.98 | 4.01 | 4.70 | 7.69 | 7.01 | 4.01 | 5.57 | 8.91 |
| EV / EBIT | 112.48 | 46.09 | 109.80 | 6.77 | 5.12 | 6.61 | 15.23 | 11.52 | 5.49 | 8.20 | 11.77 |
| EV / FCF | — | — | — | 91.93 | 19.68 | 12.51 | 15.11 | 21.41 | 90.65 | 13.33 | 14.42 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.4% | 19.4% | 21.3% | 28.6% | 30.3% | 27.4% | 23.3% | 25.2% | 29.3% | 26.9% | 24.5% |
| Operating Margin | 1.9% | 1.9% | 0.2% | 14.3% | 17.6% | 14.4% | 8.4% | 9.8% | 16.0% | 12.0% | 4.4% |
| Net Profit Margin | -0.3% | -0.3% | -1.1% | 9.5% | 12.3% | 9.2% | 4.9% | 6.1% | 11.4% | -0.8% | 2.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.4% | -0.4% | -1.5% | 15.2% | 22.6% | 17.9% | 8.0% | 11.4% | 22.5% | -1.2% | 3.0% |
| ROA | -0.2% | -0.2% | -0.7% | 8.0% | 11.6% | 8.9% | 3.9% | 5.3% | 10.5% | -0.6% | 1.6% |
| ROIC | 1.6% | 1.6% | 0.2% | 17.2% | 25.5% | 23.3% | 11.0% | 15.2% | 29.1% | 16.4% | 4.9% |
| ROCE | 1.6% | 1.6% | 0.2% | 14.5% | 20.6% | 17.2% | 8.1% | 10.4% | 18.1% | 11.3% | 3.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.56 | 0.56 | 0.51 | 0.43 | 0.31 | 0.33 | 0.32 | 0.40 | 0.36 | 0.22 | 0.22 |
| Debt / EBITDA | 4.15 | 4.15 | 4.74 | 1.41 | 0.81 | 0.91 | 1.34 | 1.40 | 0.76 | 0.78 | 1.37 |
| Net Debt / Equity | — | 0.31 | 0.21 | -0.01 | 0.01 | -0.11 | -0.07 | -0.06 | -0.14 | -0.22 | -0.07 |
| Net Debt / EBITDA | 2.32 | 2.32 | 2.01 | -0.04 | 0.03 | -0.31 | -0.31 | -0.23 | -0.30 | -0.80 | -0.44 |
| Debt / FCF | — | — | — | -0.69 | 0.15 | -0.82 | -0.61 | -0.69 | -6.69 | -1.90 | -0.71 |
| Interest Coverage | 1.47 | 1.47 | 0.91 | 19.60 | 35.65 | 25.78 | 6.02 | 7.72 | 12.87 | 11.58 | 7.72 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.62 | 2.62 | 2.70 | 3.32 | 2.92 | 2.90 | 3.02 | 3.27 | 2.77 | 3.88 | 4.08 |
| Quick Ratio | 1.57 | 1.57 | 1.73 | 2.38 | 2.07 | 2.12 | 2.22 | 2.44 | 2.02 | 3.11 | 3.25 |
| Cash Ratio | 0.72 | 0.72 | 0.86 | 1.46 | 1.26 | 1.33 | 1.38 | 1.54 | 1.19 | 2.30 | 2.40 |
| Asset Turnover | — | 0.72 | 0.71 | 0.80 | 0.90 | 0.91 | 0.79 | 0.86 | 0.98 | 0.75 | 0.75 |
| Inventory Turnover | 3.26 | 3.26 | 3.35 | 3.75 | 3.94 | 4.39 | 4.28 | 4.63 | 4.47 | 4.36 | 4.60 |
| Days Sales Outstanding | — | 45.41 | 49.94 | 45.78 | 43.43 | 44.66 | 49.40 | 44.89 | 47.75 | 47.67 | 43.05 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 2.5% | 2.4% | 1.7% | 1.8% | 1.8% | 1.8% | 1.7% | 1.7% | 1.2% | 1.5% |
| Payout Ratio | — | — | — | 17.2% | 13.3% | 18.7% | 44.7% | 32.6% | 13.5% | — | 75.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 9.6% | 13.8% | 9.4% | 4.1% | 5.3% | 12.4% | — | 2.0% |
| FCF Yield | — | — | — | 1.1% | 5.1% | 7.5% | 6.4% | 4.5% | 1.0% | 6.6% | 6.6% |
| Buyback Yield | 0.2% | 0.6% | 2.2% | 5.1% | 2.7% | 0.0% | 0.0% | 0.0% | 0.0% | 1.3% | 0.9% |
| Total Shareholder Yield | 1.1% | 3.1% | 4.5% | 6.8% | 4.5% | 1.8% | 1.8% | 1.7% | 1.7% | 2.5% | 2.5% |
| Shares Outstanding | — | $136M | $137M | $140M | $144M | $145M | $145M | $145M | $155M | $146M | $151M |
Cyclical Margin Compression
Based on current market data, Vishay trades at a forward P/E of 76.11, a multiple that appears to price in a significant earnings recovery that remains contingent on the successful execution of the Vishay 3.0 strategy amidst ongoing industrial sector volatility and margin compression.
The elevated forward P/E multiple suggests that investors are looking past current depressed earnings, yet the EV/EBITDA of 29.56 indicates the market is cautious about the company's near-term ability to convert revenue into meaningful EBITDA. This valuation gap relative to more specialized semiconductor peers implies that the market views Vishay's capital-intensive manufacturing model as a structural drag on growth potential.
As reported in recent financial statements, Vishay's ROIC has languished at 0.6% in 2026Q1, a sharp decline from historical levels that highlights the difficulty of generating adequate returns on invested capital while the company simultaneously ramps up its heavy capital expenditure program.
The persistent low ROIC suggests that the company's recent investments in capacity expansion have yet to yield the expected operational efficiencies. Investors should monitor whether this trend represents a temporary period of asset underutilization or a more permanent decline in the company's ability to compound capital effectively in its core segments.
According to quarterly filings, Vishay's cash conversion cycle has remained elevated at 120 days in 2026Q1, driven by a high inventory turnover period of 110 days, which indicates significant friction in managing working capital during the current industrial demand downturn.
The prolonged inventory cycle suggests that the company is carrying substantial stock, which ties up liquidity and increases the risk of obsolescence or future write-downs. This inefficiency in working capital management appears to be a structural challenge that limits the company's agility in responding to rapid shifts in end-market demand.
Based on the provided quarterly figures, Vishay maintains a disciplined debt-to-equity ratio of 0.53, providing a necessary financial cushion that allows the firm to navigate cyclical troughs without the immediate threat of insolvency or excessive interest expense burdens.
While the company's leverage remains low, the interest coverage ratio of 2.22 in 2026Q1 warrants close monitoring as it indicates a narrowing margin of safety for debt service. This conservative capital structure is a key defensive feature, though it may limit the company's ability to pursue aggressive inorganic growth without increasing its risk profile.
The market's reliance on P/E multiples to value Vishay is fundamentally flawed, as it obscures the company's true earning power by failing to account for the significant non-recurring restructuring charges and heavy depreciation inherent in its capital-intensive manufacturing model.
Investors should instead prioritize EV/EBITDA or free cash flow yield, as these metrics better capture the underlying operational cash generation before the impact of accounting noise and aggressive capital spending. Relying on P/E ratios in this context risks misinterpreting cyclical troughs as permanent value destruction, thereby ignoring the potential for margin expansion once capacity utilization improves.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying VSH stock.
Vishay Intertechnology, Inc.'s current P/E ratio is -638.3x. The historical average is 28.1x.
Vishay Intertechnology, Inc.'s current EV/EBITDA is 22.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.4x.
Vishay Intertechnology, Inc.'s return on equity (ROE) is -0.4%. The historical average is 4.7%.
Based on historical data, Vishay Intertechnology, Inc. is trading at a P/E of -638.3x. Compare with industry peers and growth rates for a complete picture.
Vishay Intertechnology, Inc.'s current dividend yield is 0.86%.
Vishay Intertechnology, Inc. has 19.4% gross margin and 1.9% operating margin.
Vishay Intertechnology, Inc.'s Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.