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© VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. February 4, 2026 4Q 2025 Earnings Conference Call
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NOTES ON FORWARD-LOOKING STATEMENTS Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” 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. Factors that could cause actual results to materially differ are described in our filings with the U.S. Securities and Exchange Commission, including our annual reports on Form 10-K and quarterly reports on Form 10-Q, specifically in the sections titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors .” The Company undertakes no obligation to update any forward-looking statements. © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. NON-GAAP FINANCIAL MEASURES Management uses measures which are not recognized in accordance with U.S. generally accepted accounting principles (“GAAP”) to evaluate its business and may refer to such measures in this presentation. These measures are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. These non- GAAP financial measures are intended to supplement our GAAP measures of performance and liquidity. These non-GAAP measures may include: adjusted net earnings, adjusted gross income, adjusted gross margin, adjusted operating income, adjusted operating margin, adjusted earnings per share, free cash, EBITDA, adjusted EBITDA, and EBITDA margin. “Adjusted net earnings” is net earnings (loss) determined in accordance with GAAP, adjusted for various items that Management believes are not indicative of the intrinsic operating performance of the Company, such as favorable resolution of contingencies, goodwill impairment charges, restructuring and severance costs, losses on early extinguishment of debt, and other significant charges or credits that are important to understanding our intrinsic operations. The measurement is used by Management to evaluate our performance, and also is a key performance metric for executive compensation. Reconciling items to arrive at adjusted net earnings are more fully described in the Company’s annual report on Form 10-K and its quarterly reports on Forms 10-Q. “Adjusted gross profit” is gross profit determined in accordance with GAAP (net revenues less costs of products sold and certain other period costs), adjusted to exclude items that Management believes are not indicative of the intrinsic operating performance of the Company, such as losses on purchase commitments, and unusual inventory write-downs. The measurement is used by Management to evaluate the performance of our business segments, as well the business as a whole. Reconciling items to arrive at adjusted gross margin are also considered in the calculation of adjusted operating margin and adjusted net earnings. Such reconciling items are more fully described in the Company’s annual report on Form 10-K and its quarterly reports on Forms 10-Q. “Adjusted gross margin” is “adjusted gross profit” expressed as a percentage of net revenues. “Adjusted operating income” is operating income determined in accordance with GAAP, adjusted for items that Management believes are not indicative of the intrinsic operating performance of the Company. The measurement is used by Management to evaluate our performance. Reconciling items to arrive at adjusted gross profit are also considered in the calculation of adjusted operating income; and reconciling items to arrive at adjusted operating margin are also considered in the calculation of adjusted net earnings. Such reconciling items are more fully described in the Company’s annual report on Form 10-K and its quarterly reports on Forms 10-Q. “Adjusted operating margin” is “adjusted operating income” expressed as a percentage of net revenues. “Adjusted earnings per share” is “adjusted net earnings” divided by the weighted average diluted shares outstanding for a period, adjusted for the effect of reconciling items, if applicable, on the diluted weighted average shares outstanding. For example, some potential common shares which are anti-dilutive to the computation of GAAP earnings per share may be dilutive after considering reconciling items. “Free cash” is cash generated from operations in excess of our capital expenditure needs and net of proceeds from the sale of assets. Management uses this measure to evaluate our ability to fund acquisitions, repay debt, and otherwise enhance stockholder value through stock buy-backs or dividends. “EBITDA” is earnings before interest income and expense, provision for income taxes, depreciation expense, and amortization expense. Management believes that EBITDA provides additional information with respect to a company’s performance and ability to meet its future capital expenditures and working capital requirements, particularly when evaluating acquisition targets. “Adjusted EBITDA” is EBITDA adjusted for relevant reconciling items used to calculate adjusted net earnings (described above). Adjusted EBITDA is substantially similar to, but not identical to, a measure used in the calculation of financial ratios required for covenant compliance under our revolving credit facility. “Adjusted EBITDA Margin” is “adjusted EBITDA” divided by net revenues. These measures do not have uniform definitions and accordingly, these measures, as calculated by Vishay, may not be comparable to similarly titled measures used by other companies. Such measures should not be viewed as alternatives to GAAP measures of performance or liquidity. However, Management believes such measures are meaningful to an evaluation of our business, as described above. 2
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By End Market 3 Revenue Mix INDUSTRIAL + 18% YoY+ 3% QoQ ▸ Increased shipments of high voltage DC power capacitors ▸ Multi product inventory replenishment ▸ New industrial programs ramping up ▸ Bookings strong – industrial power management and automation recovering AU TO M O T I V E + 5% YoY- 3% QoQ OTHER + 31% YoY+ 11% QoQ AE R O / D E F E N S E - 2% YoY- 1% QoQ H E ALT H C AR E + 5% YoY0 % QoQ 35% 34% 33% 34% 36% 37% 16% 15% 14% 10% 10% 11% 5% 5% 5% 4Q25 3Q25 4Q24 INDUSTRIAL AUTOMOTIVE OTHER* AERO/DEFENSE HEALTHCARE * Power Supplies, Telecom, Consumers, Computing ▸ Asia was strong ▸ Seasonal low pull rates in the Americas and Europe versus Q3 ▸ Orders grew in each region ▸ Customers ramping up production of new products to support AI power management applications ▸ Bookings grew on increased production of AI servers and extended lead times across the industry ▸ Negative impact of US government shutdown on billings ▸ Project related timing in Europe ▸ Declines in the Americas and Europe on fluctuating order patterns ▸ Bookings increased; supplying new programs
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4 Revenue Mix 57% 57% 53% 37% 37% 40% 6% 6% 7% 4Q25 3Q25 4Q24 DISTRIBUTION OEM EMS By Sales Channel E M S 0 % YoY+ 1% QoQ DISTRIBUTION + 20% YoY+ 1 QoQ OEM + 4% YoY+ 1% QoQ ▸ Strong automotive and AI demand in Asia ▸ Strong order intake from industrial and aerospace customers in the Americas and Europe; bookings accelerating in Asia in anticipation of stronger AI forecasts ▸ Distribution inventory dropped to 22 weeks ▸ POS increased 3% ▸ Strong demand from automotive customers in Asia ▸ Volume gains by industrial customers in Europe ▸ Gains in Asia related to AI power and inventory replenishment ▸ Partially offset by year-end holiday shut- downs in the Americas and Europe
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5 Revenue Mix By Region EUROPE + 9% YoY0% QoQ AM E R I C AS + 3% YoY0% QoQ AS I A + 21% YoY+ 4% QoQ 32% 33% 33% 44% 43% 41% 24% 24% 26% 4Q25 3Q25 4Q24 EUROPE ASIA AMERICAS ▸ Flat with Q3 due to seasonal slow down, somewhat offset by improved industrial power demand ▸ Strong growth compared to both Q3 and Q4 2024 ▸ Flat with Q3 due to seasonal slow down, somewhat offset by improved industrial power demand
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6 800.9 790.6 714.7 500 550 600 650 700 750 800 850 4Q25 3Q25 4Q24 TOTAL REVENUES ($M) $800.9 M 4Q 2025 REVENUES 19.6% GROSS MARGIN including negative impact of approximately 130 bps related to Newport 1.20 4Q 2025 BOOK -TO-BILL 1.27 FOR SEMICONDUCTORS 1.13 FOR PASSIVE COMPONENTS 4Q 2025 Highlights 6 4.9 months BACKLOG AT QUARTER END $0.01 EPS Adjusted EPS$0.01
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7 4Q 2025 Income Statement Highlights EPS $0.01 SG&A Expenses $142.0 M Gross Margin 19.6% Including ~130 basis impact of Newport EBITDA Margin 8.8% Effective Tax Rate 82.3% Operating Margin 7 1.8% Adjusted EPS $0.01 Normalized Effective Tax Rate 82.3%
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8 MOSFETs REVENUES GROSS MARGIN BOOK TO BILL 4Q 2025 172.6 13.8% 1.48 3Q 2025 167.1 10.1% 0.86 4Q 2024 146.6 15.6% 0.98 FY 2025 630.5 9.8% 1.17 DIODES REVENUES GROSS MARGIN BOOK TO BILL 4Q 2025 154.2 20.3% 1.09 3Q 2025 149.6 20.3% 1.07 4Q 2024 141.4 20.2% 1.00 FY 2025 592.8 20.1% 1.02 OPTO REVENUES GROSS MARGIN BOOK TO BILL 4Q 2025 55.7 15.0% 1.12 3Q 2025 55.6 22.9% 0.93 4Q 2024 46.9 11.7 1.00 FY 2025 216.6 20.5% 1.00 RESISTORS REVENUES GROSS MARGIN BOOK TO BILL 4Q 2025 189.4 19.4% 1.05 3Q 2025 195.7 20.1% 0.92 4Q 2024 177.0 17.3% 0.91 FY 2025 759.3 21.2% 0.97 INDUCTORS REVENUES GROSS MARGIN BOOK TO BILL 4Q 2025 92.6 29.8% 1.07 3Q 2025 92.0 30.7% 0.99 4Q 2024 83.4 29.6% 1.01 FY 2025 364.4 27.5% 1.00 CAPACITORS REVENUES GROSS MARGIN BOOK TO BILL 4Q 2025 136.5 21.3% 1.30 3Q 2025 130.6 20.1% 1.07 4Q 2024 119.3 25.1% 1.21 FY 2025 505.6 21.5% 1.23 Segment Results ($M) 8
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Cash Conversion Cycle 48 53 53 20 30 40 50 60 4Q25 3Q25 4Q24 DSO 107 108 109 40 50 60 70 80 90 100 110 4Q25 3Q25 4Q24 DIO 30 31 34 0 10 20 30 40 4Q25 3Q25 4Q24 DPO CASH CONVERSION CYCLE 125 130 128 50 60 70 80 90 100 110 120 130 4Q25 3Q25 4Q24 9
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10 Cash Flow Generation 149.4 27.6 (8.8) 16.1 67.7 -40 0 40 80 120 160 4Q 3Q 2Q 1Q 4Q 184.3 173.7 0 100 200 TTM 2025 TTM 2024 CASH FLOW FROM OPERATIONS ($/M) 20242025 94.8 52.3 64.6 61.6 144.9 0 20 40 60 80 100 120 140 160 4Q 3Q 2Q 1Q 4Q 273.3 320.1 0 100 200 300 400 TTM 2025 TTM 2024 CAPEX ($/M) 20242025 54.9 (24.3) (73.2) (45.2) (75.6)(100) (50) 0 50 100 4Q 3Q 2Q 1Q 4Q (87.8) (143.4)(160) (140) (120) (100) (80) (60) (40) (20) 0 TTM 2025 TTM 2024 FREE CASH FLOW ($/M) 20242025 STOCKHOLDER RETURNS ($/M) Stock Repurchases 66.8 105.1 0 20 40 60 80 100 120 140 TTM 2025 TTM 2024 0 5 10 15 20 25 30 4Q 3Q 2Q 1Q 4Q 20242025 Stock Repurchases Dividends 10
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Guidance 1Q 2026 $800 - $830 M 19.9% $153 M $2 - $4 M $400 - $440 M INCOME TAX EXPENSE CAPEX 2026 GROSS MARGIN SG&A +/- 50 bps +/- $2 M 11 REVENUE Newport Impact Negative 50 - 75 bps
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12 Strategic Growth Levers Broaden our Portfolio SERVED MARKETS Internal Capacity Expansion External Capacity Expansion Optimizing Global Manufacturing Footprint Increased Technical Headcount Enhanced Channel Management Innovation Vishay Solutions M&A 12
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13 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. Summary • Capacity ready to capture early stages of market upturn • Well positioned to capitalize on demand in high growth markets: • Automotive—electrification, hybrid, EV • AI server and AI server power • Smart grid infrastructure and industrial power • Aerospace & defense • Healthcare • Creating opportunities to expand participation in the full market recovery • Leveraging the expanding portfolio • Deepening engagement with new and existing customers • Increasing share of bill of materials
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Appendix 4Q 2025 Earnings Conference Call
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15 $3,069.0 $2,937.6 $3,402.0 1000 1400 1800 2200 2600 3000 3400 3800 FY 2025 FY 2024 FY 2023 TOTAL REVENUES ($M) $3,069.0 M FY 2025 REVENUES 19.4% GROSS MARGIN including negative impact of approximately 160 bps related to Newport FY 2025 Highlights 15 ($0.07) EPS Adjusted EPS($0.05)
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Revenue Mix: FY 2025 Revenue Mix by Sales Channel 16 Revenue Mix by End Markets Revenue Mix by Region 35% 34% 36% 35% 37% 35% 15% 13% 16% 10% 11% 8% 5% 5% 5% FY 2025 FY 2024 FY 2023 INDUSTRIAL AUTOMOTIVE OTHER* AERO/DEFENSE HEALTHCARE * Power Supplies, Telecom, Consumers, Computing 34% 35% 37% 42% 39% 37% 24% 26% 26% FY 2025 FY 2024 FY 2023 EUROPE ASIA AMERICAS 56% 54% 53% 37% 39% 40% 7% 7% 7% FY 2025 FY 2024 FY 2023 DISTRIBUTION OEM EMS
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Product Type 2025 48% 51% 45% 26% 16% 37% 26% 33% 18% 0% 20% 40% 60% 80% 100% Vishay Total Passives Semiconductors Hundreds CERTIFIED COMMODITY CUSTOM © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. small number of competitors with similar products (qualifications such as automotive, military, UL) C E R T I F I E D P R O D U C T S completely interchangeable with competitors’ products C O M M O D I T Y P R O D U C T S designed for and sold to a specific customer C U S TO M PRODUCTS 17
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18 Trusted by… E MS DI S TRI B UTION OEM 18
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1919 We are proud to be the go-to manufacturer for engineers to innovate with ease and confidence that The DNA of tech® is behind them all the way. DISCRETE SEMICONDUCTORS PASSIVE COMPONENTS LOWEST VOLTAGE DIODE HIGHEST ENERGY CAPACITOR In power applications, we can supply ~80% of your BOM in power applications © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
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Investing in Capacity Readiness Invested $0.9 billion, 2023–2025 70% of CapEx in capacity expansion Focused on growth product lines RESULTS Reliably supply customers Re-engage with inactive customers Drive new customer engagement 0% 4% 8% 12% 0 200 400 2017 2018 2019 2020 2021 2022 2023 2024 2025 Capital Capital Intensity (%) 9–13%5–9% $/M
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21P&L IN MILLIONS (Except Per Share Amounts) 4Q 2025 3Q 2025 4Q 2024 Net Revenues $800.9 $790.6 $714.7 Cost of Products Sold 644.1 636.8 572.6 Gross Profit 156.8 153.9 142.1 Gross Margin 19.6% 19.5% 19.9% SG&A 142.0 134.7 132.3 Impairment of goodwill - - 66.5 Operating Income (Loss) 14.8 19.1 ($56.7) Operating Margin 1.8% 2.4% (7.9%) Other Income (Expense): Interest Expense (9.7) (9.5) (7.7) Other 0.5 2.3 5.6 Total Other Income (Expense) – Net (9.2) (7.3) (2.2) Income (Loss) Before Taxes 5.6 11.9 (58.9) Income Tax Expense 4.6 19.8 7.2 Net Earnings (Loss) 1.0 (7.9) (66.1) Less: Net Earnings Attributable to Noncontrolling Interests - - 0.2 Net Earnings (Loss) Attributable to Vishay Stockholders $1.0 ($7.9) ($66.3) Diluted Earnings (Loss) Per Share Attributable To Vishay Stockholders $0.01 ($0.06) ($0.49) Weighted Average Shares Outstanding - Diluted 136.7 135.7 136.1 Cash Dividends Per Share $0.10 $0.10 $0.10 21
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22P&L IN MILLIONS (Except Per Share Amounts) FY 2025 FY 2024 Net Revenues $3,069.0 $2,937.6 Cost of Products Sold 2,474.2 2,311.3 Gross Profit 594.9 626.3 Gross Margin 19.4% 21.3% SG&A** 538.0 513.6 Restructuring and Severance Costs - 40.6 Impairment of goodwill - 66.5 Operating Income 56.9 5.6 Operating Margin 1.9% 0.2% Other Income (Expense): Interest Expense (38.7) (27.5) Other 7.3 19.5 Total other income (expense) - net (31.4) (8.0) Income (Loss) Before Taxes 25.5 (2.4) Income Tax Expense 34.5 27.4 Net Earnings (Loss) (9.0) (29.8) Less: Net Earnings Attributable to Noncontrolling Interests - 1.4 Net Earnings (Loss) Attributable to Vishay Stockholders ($9.0) ($31.2) Diluted Earnings (Loss) Per Share Attributable To Vishay Stockholders ($0.07) ($0.23) Weighted Average Shares Outstanding - Diluted 135.7 137.0 Cash Dividends Per Share $0.40 $0.40 22 **Selling, general and administrative expenses for the fiscal year ended December 31, 2025, include a ($11.3) million benefit recognized upon the favorable resolution of a contingency
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23 Reconciliation of Adjusted Net Earnings © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 23 IN MILLIONS (Except Per Share Amounts) 4Q 2025 3Q 2025 4Q 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders $1.0 ($7.9) ($66.3) Reconciling items affecting operating income: Impairment of Goodwill - - 66.5 Reconciling items affecting tax expense (benefit): Change in tax laws and regulations - $13.7 - Adjusted net earnings $1.0 $5.8 $0.2 Adjusted weighted average diluted shares outstanding 136.7 136.6 136.9 Adjusted earnings per diluted share $0.01 $0.04 $0.00
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24 Reconciliation of Adjusted Net Earnings © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 24 IN MILLIONS (Except Per Share Amounts) FY 2025 FY 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders ($9.0) ($31.2) Reconciling items affecting operating income: Favorable Resolution of Contingency ($11.3) - Impairment of Goodwill - 66.5 Restructuring and Severance Costs - 40.6 Reconciling items affecting tax expense (benefit): Change in tax laws and regulations $13.7 - Tax effects of pre-tax items above - (10.3) Adjusted net earnings (loss) ($6.6) $65.7 Adjusted weighted average diluted shares outstanding 135.7 137.7 Adjusted earnings (loss) per diluted share ($0.05) $0.48
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25 Reconciliation of Free Cash © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. IN MILLIONS 4Q 2025 3Q 2025 4Q 2024 Net Cash Provided by Operating Activities $149.4 $27.6 $67.7 Proceeds From Sale of Property and Equipment 0.3 0.4 1.6 Less: Capital Expenditures (94.8) (52.3) (144.9) Free Cash $54.9 ($24.3) ($75.6) 25
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26 Reconciliation of Free Cash © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. IN MILLIONS FY 2025 FY 2024 Net Cash Provided by Operating Activities $184.3 $173.7 Proceeds From Sale of Property and Equipment 1.2 3.0 Less: Capital Expenditures (273.3) (320.1) Free Cash ($87.8) ($143.4) 26
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27 Reconciliation of EBITDA © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 27 IN MILLIONS 4Q 2025 3Q 2025 4Q 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders $1.0 ($7.9) ($66.3) Net Earnings Attributable to Noncontrolling Interests - - 0.2 Net Earnings (Loss) $1.0 ($7.9) ($66.1) Interest Expense $9.7 $9.5 $7.7 Interest Income (2.8) (2.7) (4.5) Income Taxes 4.6 19.8 7.2 Depreciation and Amortization 57.7 57.3 55.4 EBITDA $70.3 $76.0 ($0.3) Reconciling items Impairment of Goodwill - - 66.5 Adjusted EBITDA $70.3 $76.0 $66.2 Adjusted EBITDA Margin ** 8.8% 9.6% 9.3% **Adjusted EBITDA as a percentage of net revenues
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28Reconciliation of EBITDA © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 28 IN MILLIONS FY 2025 FY 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders ($9.0) ($31.2) Net Earnings Attributable to Noncontrolling Interests - 1.4 Net Earnings (Loss) ($9.0) ($29.8) Interest Expense 38.7 27.5 Interest Income (13.4) (25.5) Income Taxes 34.5 27.4 Depreciation and Amortization 224.7 210.6 EBITDA $275.5 $210.3 Reconciling items Favorable Resolution of Contingencey ($11.3) - Impairment of Goodwill - 66.5 Restructuring and Severance Costs - 40.6 Adjusted EBITDA $264.2 $317.4 Adjusted EBITDA Margin ** 8.6% 10.8% ** Adjusted EBITDA as a percentage of net revenues
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Vishay The DNA of tech ® © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.