MALVERN, PA — Vishay Intertechnology, Inc. (NYSE: VSH) closed out 2025 with signs of accelerating momentum, reporting fourth-quarter revenue of $800.9 million as customer orders climbed to their highest level in three years.
The Malvern-based semiconductor and electronic components manufacturer posted GAAP earnings of $0.01 per share for the quarter ended December 31, 2025. Gross margin came in at 19.6 percent, reflecting a negative impact of roughly 130 basis points tied to Newport-related costs.
Company officials said demand strengthened across multiple end markets, particularly industrial and artificial intelligence-related power applications, helping lift revenue 1.3 percent from the third quarter. Growth was recorded across all sales channels, led by distribution.
“Fourth quarter financial results capped a year of steadily improving performance,” said Joel Smejkal, president and chief executive officer of Vishay Intertechnology. “Revenue was 1.3% higher than the third quarter, reflecting growing demand for a broad range of industrial and AI-related power applications, with growth in each channel, led by distribution. Orders for the quarter reached a three-year high and we ended the quarter with a book-to-bill of 1.20.”
Vishay reported a consolidated book-to-bill ratio of 1.20 for the quarter, including 1.27 for semiconductors and 1.13 for passive components, signaling expanding demand relative to shipments. Backlog at the end of the quarter stood at 4.9 months.
Smejkal said the company is entering 2026 positioned for further gains as it focuses on factory throughput, competitive lead times, and execution of its long-term growth strategy.
“As a result, we enter 2026 ready to take off as we push our factories to maintain competitive lead times and win our customers’ trust, push to outperform the market and push to advance our strategy to accelerate revenue growth, elevate profitability and enhance our return on capital,” he said.
Looking ahead, Vishay expects first-quarter 2026 revenue to range between $800 million and $830 million. Management forecast a gross margin of approximately 19.9 percent, plus or minus 50 basis points, including a projected 50 to 75 basis point negative impact related to Newport.
Vishay Intertechnology is one of the world’s largest producers of discrete semiconductors and passive electronic components, supplying customers across industrial, automotive, communications, and computing markets.
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