Vishay Intertechnology, Inc. (VSH): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le monde dynamique des composants électroniques, Vishay Intertechnology, Inc. (VSH) est une puissance technologique, transformant des innovations complexes semi-conductrices en solutions critiques qui se sont alimentées par l'automobile à l'aérospatiale. Avec un modèle commercial sophistiqué qui mélange la recherche de pointe, les partenariats mondiaux stratégiques et l'ingénierie de précision, Vishay s'est positionné comme un catalyseur critique de l'avancement technologique dans plusieurs secteurs. Leur approche unique de la conception de composants électroniques haute performance révèle un plan stratégique qui va bien au-delà de la fabrication traditionnelle, offrant des solutions personnalisées qui stimulent l'innovation et la fiabilité sur un marché mondial de plus en plus interconnecté.

Vishay Intertechnology, Inc. (VSH) - Modèle commercial: partenariats clés

Fournisseurs stratégiques de composants électroniques et de matières premières

Vishay Intertechnology maintient des partenariats critiques avec des fournisseurs de composants électroniques spécialisés:

Catégorie des fournisseurs	Nombre de partenaires stratégiques	Valeur d'achat annuelle
Matériaux semi-conducteurs	12	287,6 millions de dollars
Fournisseurs de métaux de terres rares	5	73,4 millions de dollars
Fabricants de fils de cuivre	8	129,5 millions de dollars

Collaborations originales des fabricants d'équipements (OEM)

Vishay s'associe à des OEM clés sur plusieurs secteurs:

• Partners du secteur automobile: 37 fabricants
• Fabricants d'équipements industriels: 24 entreprises
• Provideurs d'équipement de télécommunications: 16 entreprises mondiales

Collaborations de recherche et développement

Institution universitaire / recherche	Focus de la collaboration	Investissement annuel de R&D
Institut de technologie du Massachusetts	Innovation de semi-conducteurs	4,2 millions de dollars
Université de Stanford	Recherche avancée des matériaux	3,7 millions de dollars
Université technique de Munich	Conception de composants électroniques	2,9 millions de dollars

Fabricants de contrats

Vishay s'engage avec les fabricants de contrats spécialisés:

• Partenaires totaux de fabrication de contrats: 22
• Distribution géographique:
  • Asie-Pacifique: 12 partenaires
  • Amérique du Nord: 6 partenaires
  • Europe: 4 partenaires

Partenaires de distribution mondiaux

Région	Nombre de partenaires de distribution	Revenus de distribution annuelle
Amérique du Nord	43	276,5 millions de dollars
Europe	38	241,3 millions de dollars
Asie-Pacifique	52	329,7 millions de dollars

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: activités clés

Conception et fabrication de semi-conducteurs discrets et de composants électroniques passifs

Vishay Intertechnology produit une large gamme de composants électroniques avec la panne de fabrication suivante:

Catégorie de composants	Volume de production annuel	Lieux de fabrication
Semi-conducteurs discrets	3,2 milliards d'unités	Israël, États-Unis, Chine, Allemagne
Composants électroniques passifs	2,8 milliards d'unités	Philippines, République tchèque, États-Unis

Recherche et développement des technologies électroniques avancées

Détails de l'investissement R&D:

• Dépenses annuelles de R&D: 189,4 millions de dollars
• Personnel R&D: 785 ingénieurs
• Déposages de brevets: 42 nouveaux brevets en 2023

Contrôle de la qualité et ingénierie de précision

Métrique de qualité	Performance
Taux de défaut	0.02%
Certifications ISO	ISO 9001: 2015, IATF 16949

Optimisation mondiale de fabrication et de production

Capacités de fabrication:

• Installations de fabrication totale: 15 sites mondiaux
• Capacité de production: 6,5 milliards de composants électroniques par an
• Pays manufacturiers: 7 pays sur 3 continents

Innovation continue des produits et progrès technologique

Métriques d'innovation:

Indicateur d'innovation	2023 données
Introductions de nouveaux produits	87 nouveaux conceptions de composants électroniques
Pourcentage d'investissement technologique	7,2% des revenus annuels

Vishay Intertechnology, Inc. (VSH) - Modèle commercial: Ressources clés

Portfolio de propriété intellectuelle étendue

En 2023, Vishay Intertechnology tient 1 246 brevets actifs sur plusieurs domaines technologiques.

Catégorie de brevet	Nombre de brevets
Technologies de semi-conducteurs	578
Technologies de composants passifs	412
Technologies de composants discrets	256

Installations de fabrication avancées

Vishay fonctionne 25 installations de fabrication dans 8 pays.

Région	Nombre d'installations
États-Unis	7
Chine	6
Israël	4
Europe	5
Autres régions	3

Main-d'œuvre hautement qualifiée

Le total des employés compte à partir de 2023: 4 721 employés.

• Travail d'ingénierie: 1 356 employés
• Personnel R&D: 612 employés
• Personnel de fabrication: 2 153 employés
• Personnel administratif et de soutien: 600 employés

Capacités de recherche et de développement

Investissement en R&D en 2023: 187,4 millions de dollars, représentant 4,6% des revenus totaux.

Zone de focus R&D	Investissement annuel
Recherche de semi-conducteurs	82,1 millions de dollars
Innovation des composants passifs	65,3 millions de dollars
Développement des composants discrets	40,0 millions de dollars

Infrastructure de gestion de la chaîne d'approvisionnement

Dépenses de l'approvisionnement annuel: 2,3 milliards de dollars.

• Nombre de fournisseurs stratégiques: 214
• Distribution des fournisseurs géographiques:
  • Asie: 52%
  • Amérique du Nord: 28%
  • Europe: 18%
  • Autres régions: 2%

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: propositions de valeur

Composants électroniques haute performance avec une fiabilité supérieure

Depuis le quatrième trimestre 2023, Vishay Intertechnology a rapporté les mesures de fiabilité suivantes:

Type de composant	Taux de fiabilité	Temps moyen entre les échecs (MTBF)
Résistances	99.97%	250 000 heures
Condensateurs	99.95%	225 000 heures
Semi-conducteurs	99.99%	275 000 heures

Large gamme de solutions électroniques semi-conductrices et passives spécialisées

Répartition du portefeuille de produits pour 2023:

• Résistances: 38% de la gamme totale de produits
• Semi-conducteurs: 29% de la gamme totale de produits
• Condensateurs: 18% de la gamme totale de produits
• Composants discrets: 15% de la gamme totale de produits

Offres de produits rentables et technologiquement avancées

Mesures de rentabilité pour 2023:

Métrique	Valeur
Réduction des coûts de fabrication	12.5%
Investissement en R&D	243 millions de dollars
Coût par composant	$0.037

Composants électroniques personnalisés pour des exigences spécifiques de l'industrie

Répartition de la personnalisation spécifique à l'industrie:

• Automobile: 35% des solutions personnalisées
• Industriel: 25% des solutions personnalisées
• Télécommunications: 20% des solutions personnalisées
• Medical: 12% des solutions personnalisées
• Aérospatial: 8% des solutions personnalisées

Durabilité des produits à long terme et qualité cohérente

Mesures d'assurance qualité pour 2023:

Métrique de qualité	Performance
Garantie de durée de vie du produit	10 ans
Taux de défaut	0.03%
Taux de retour des clients	0.05%

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: relations clients

Support technique et consultation d'ingénierie

Vishay maintient une équipe de support technique dédiée avec les capacités suivantes:

Canal de support	Temps de réponse	Couverture
Support téléphonique	Dans les 4 heures	Assistance technique mondiale
Assistance par e-mail	Fenêtre de réponse 24h / 24	Consultation mondiale en génie
Support technique sur place	Déploiement de 72 heures	Principales régions de fabrication mondiales

Approche de partenariat à long terme

La stratégie de relation client de Vishay se concentre sur l'engagement stratégique:

• 87% des revenus provenant de clients réguliers
• Durée moyenne de la relation client: 12,5 ans
• Partenariats stratégiques avec les 50 meilleurs fabricants d'électronique

Gestion de compte dédiée

Niveau client	Gestionnaires de compte dédiés	Seuil de revenus annuel
Platine	1: 1 Manager dédié	50 millions de dollars +
Or	1: 2 Gestionnaire partagé	10-50 millions de dollars
Standard	Support de groupe	Moins de 10 millions de dollars

Ressources techniques en ligne

L'infrastructure de support numérique comprend:

• 3 500+
• 250+ notes de demande technique
• Portail de documentation de produit en ligne accessible 24/7

Réactivité du service client

Métrique de service	Norme de performance	Performance réelle
Temps de résolution des problèmes	48 heures	36,2 heures moyenne
Évaluation de satisfaction du client	90%+	92,7% en 2023
Escalade technique	24 heures maximum	18,5 heures moyenne

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: canaux

Équipe de vente directe pour les grands clients industriels

Vishay maintient une force de vente directe de 482 professionnels des ventes au T2 2023, ciblant de grands clients industriels dans plusieurs secteurs.

Segment du canal de vente	Nombre de représentants commerciaux	Couverture géographique
Amérique du Nord	187	États-Unis et Canada
Europe	146	Pays de l'Union européenne
Asie-Pacifique	149	Chine, Japon, Corée du Sud

Plateformes de commerce électronique en ligne

Vishay exploite les canaux de vente numériques avec 214 millions de dollars en ventes de composants en ligne au cours de 2023.

• Plateforme de commerce électronique primaire: Vishay.com/sales
• Volume de transaction numérique: 42 567 commandes en ligne
• Valeur de commande en ligne moyenne: 5 023 $

Distributeurs de composants électroniques

Vishay collabore avec 127 distributeurs de composants électroniques autorisés dans le monde.

Région du distributeur	Nombre de distributeurs	Revenus de distribution annuelle
Amérique du Nord	38	386 millions de dollars
Europe	45	412 millions de dollars
Asie-Pacifique	44	529 millions de dollars

Salons et conférences de l'industrie

Vishay a participé à 37 salons internationaux en 2023, générant 76 millions de dollars d'opportunités de vente directes.

• Conférences assistées: 12 grandes conférences électroniques
• Interactions totales de réseautage de conférence: 2 345 clients potentiels
• Taux de conversion du plomb moyen: 18,3%

Plateformes de marketing numérique et de communication technique

Vishay a investi 4,2 millions de dollars dans les canaux de marketing numérique en 2023.

Canal numérique	Métriques d'engagement annuelles	Dépenses de marketing
Liendin	327 000 abonnés	1,1 million de dollars
Webinaires techniques	42 webinaires, 18 500 participants	1,3 million de dollars
Plateformes de documentation technique	1,2 million de téléchargements de documents	1,8 million de dollars

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: segments de clientèle

Fabricants d'électronique automobile

Vishay sert des fabricants d'électronique automobile avec des solutions de composants spécifiques.

Métriques du segment	2023 données
Revenus électroniques automobiles	412,6 millions de dollars
Part de marché dans les composants automobiles	7.3%
Nombre de clients automobiles	87 fabricants mondiaux

Producteurs d'équipements industriels

Vishay fournit des composants électroniques spécialisés pour la fabrication industrielle.

• Solutions de gestion de l'alimentation
• Technologies de capteur
• Composants semi-conducteurs discrets

Métriques du segment industriel	2023 données
Revenus électroniques industriels	356,9 millions de dollars
Clients mondiaux d'équipement industriel	124 fabricants

Sociétés d'infrastructure de télécommunications

Vishay prend en charge les infrastructures de télécommunications avec des composants électroniques avancés.

Métriques du segment des télécommunications	2023 données
Revenus de télécommunications	287,4 millions de dollars
Ventes de composants d'infrastructure 5G	93,2 millions de dollars

Fabricants d'électronique grand public

Vishay fournit des composants électroniques pour la production d'électronique grand public.

• Composants passifs
• Semi-conducteurs discrets
• Dispositifs optoélectroniques

Métriques de l'électronique grand public	2023 données
Revenus électroniques grand public	276,8 millions de dollars
Nombre de clients de l'électronique grand public	62 fabricants

Entreprises de technologie aérospatiale et de défense

Vishay fournit des composants électroniques de haute fiabilité pour les applications aérospatiales et de défense.

Métriques du segment aérospatial / défense	2023 données
Revenus aérospatiaux et de défense	203,5 millions de dollars
Composants qualifiés militaires	47 Différentes gammes de produits
Clients de la technologie de défense	39 entreprises mondiales

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Pour l'exercice 2022, Vishay Intertechnology a déclaré des dépenses de R&D de 154,5 millions de dollars, ce qui représente environ 4,3% des revenus totaux.

Année	Dépenses de R&D	Pourcentage de revenus
2022	154,5 millions de dollars	4.3%
2021	146,2 millions de dollars	4.1%

Frais opérationnels de la fabrication mondiale

Les dépenses opérationnelles de fabrication totale pour 2022 étaient de 1,26 milliard de dollars, y compris les coûts entre les installations aux États-Unis, en Chine, en Israël et en Europe.

• Facilités de fabrication des États-Unis: 387 millions de dollars
• Facilités de fabrication de Chine: 412 millions de dollars
• Installations de fabrication d'Israël: 226 millions de dollars
• Installations de fabrication européenne: 235 millions de dollars

Coûts d'approvisionnement en matières premières

Les coûts d'approvisionnement en matières premières pour 2022 ont totalisé 1,42 milliard de dollars, ce qui représente 39,6% des revenus totaux.

Catégorie de matériel	Coût d'achat annuel
Matériaux semi-conducteurs	642 millions de dollars
Composants métalliques	458 millions de dollars
Composants électroniques	320 millions de dollars

Rémunération et formation de la main-d'œuvre

Les dépenses totales de la main-d'œuvre en 2022 étaient de 892 millions de dollars, y compris les salaires, les avantages sociaux et les programmes de formation.

• Headcount total des employés: 22 400
• Salaire annuel moyen: 39 821 $
• Budget de formation et de développement: 18,6 millions de dollars

Infrastructure et maintenance technologiques

Les frais d'infrastructure technologique et de maintenance pour 2022 s'élevaient à 127,3 millions de dollars.

Catégorie d'infrastructure	Dépenses annuelles
Systèmes informatiques	58,2 millions de dollars
Entretien de l'équipement de fabrication	46,5 millions de dollars
Infrastructure de réseau et de communication	22,6 millions de dollars

Vishay Intertechnology, Inc. (VSH) - Modèle d'entreprise: sources de revenus

Ventes de semi-conducteurs discrets

Revenus de semi-conducteurs discrets de Vishay Intertechnology pour l'année 2023: 1,32 milliard de dollars

Catégorie de produits	Revenus ($ m)	Part de marché (%)
Diodes	458.6	12.3
Transistors	392.4	10.5
Mosfets	469.2	13.7

Revenus de composants électroniques passifs

Revenus de composants électroniques passifs totaux en 2023: 987,5 millions de dollars

• Résistances: 342,6 millions de dollars
• Condensateurs: 276,9 millions de dollars
• Inductances: 368 millions de dollars

Solutions d'ingénierie personnalisées

Revenus de solutions d'ingénierie personnalisées pour 2023: 215,4 millions de dollars

Segment de l'industrie	Revenus ($ m)
Automobile	89.7
Industriel	67.3
Télécommunications	58.4

Licence des innovations technologiques

Revenus de licence pour 2023: 42,6 millions de dollars

Ventes de marché mondiales dans plusieurs industries

Revenu total des ventes mondiales en 2023: 2,56 milliards de dollars

Région géographique	Revenus ($ m)	Pourcentage (%)
Amérique du Nord	742.4	29
Europe	615.3	24
Asie-Pacifique	1,202.3	47

Vishay Intertechnology, Inc. (VSH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Vishay Intertechnology, Inc. (VSH) over competitors, especially as the market for high-reliability electronics heats up. It's not just about selling parts; it's about being the essential partner for complex designs.

Single-source supplier for a broad line of essential electronic components

Vishay Intertechnology, Inc. positions itself as one of the world's largest manufacturers of discrete semiconductors and passive electronic components. This breadth means they can cover a significant portion of a customer's needs from one vendor. For instance, the company claims the ability to provide approximately 80% of the Bill of Materials (BOM) specifically in power applications. This comprehensive offering simplifies procurement and integration for design engineers.

The product portfolio is strategically segmented, showing a clear focus on high-value areas:

Product Category	Percentage of Revenue (Q2 2025)
Custom Products	49%
Commodity Products	27%
Certified Products	24%

The trailing twelve months (TTM) revenue as of late 2025 stood at $2.98 Billion USD, demonstrating the scale at which this broad portfolio operates.

High-quality, reliable components for mission-critical applications (e.g., medical, military)

Reliability is non-negotiable when you're supplying components for sensitive systems. Vishay Intertechnology, Inc. components are used in virtually all types of electronic devices, specifically targeting the industrial, automotive, medical, and military/aerospace markets. The focus on these demanding sectors underscores the value placed on component quality and longevity. For example, the company is supplying components for aerospace, defense projects, and automotive programs.

This commitment to high-reliability is supported by operational milestones, such as the certification of a new factory in Mexico to the IATF 16949:2016 standard on December 2, 2025. The third quarter of 2025 revenue of $790.6 million was achieved while serving these critical end-markets.

Innovation in high-efficiency power solutions for EV and AI infrastructure

Vishay Intertechnology, Inc. is actively aligning its innovation pipeline with the highest-growth areas in modern electronics, particularly power management. The Q3 2025 revenue growth specifically demonstrates alignment with AI related power requirements, smart grid infrastructure, and automotive needs. The company is focused on enabling these systems through advanced component technology.

Concrete examples of this innovation include:

• Releasing three new silicon carbide MOSFET products.
• Planning further platform launches for industrial and automotive applications in Q4 and Q1.
• Releasing a 1500 V 1 Form A Solid-State Relay for 800 V Battery Monitoring Systems.

The ramp in AI demand is significant; shipments for AI-related components more than doubled versus Q4 2024, driven by leveraging power component positions like MOSFETs, diodes, and inductors.

Custom product design and engineering support (representing 49% of revenue)

This is a major differentiator. Custom solutions are the largest revenue driver for Vishay Intertechnology, Inc., making up 49% of total revenue as of Q2 2025. This isn't just about off-the-shelf sales; it's about deep engineering collaboration. The company works with chipset partners and Contract Manufacturers (CMs) using reference designs to place a greater percentage of Vishay components on the board. This high percentage confirms that a significant portion of the business is built on tailored, value-added engineering services, not just commodity sales.

Supply chain resilience via a multi-location, global production base

To support the high-growth markets and the need for reliable delivery, Vishay Intertechnology, Inc. has heavily invested in its production base. The CEO noted that heavy investments in capacity expansion over the past three years are enabling the company to reliably meet quick turn delivery requirements. This global footprint supports the ability to serve regions like Asia, which contributed 42% of total revenue in Q2 2025.

The company is actively expanding this base. For example, a new factory in Mexico achieved IATF 16949:2016 certification in December 2025. Furthermore, the book-to-bill ratio for passive components stood at 1.06 in Q2 2025, indicating that orders are outpacing shipments in that segment, a sign of healthy demand being met by production capacity.

Finance: draft 13-week cash view by Friday.

Vishay Intertechnology, Inc. (VSH) - Canvas Business Model: Customer Relationships

You're looking at how Vishay Intertechnology, Inc. (VSH) keeps its component sales flowing, which really boils down to a mix of deep technical engagement and broad transactional reach. The company's core strategy here is to be the indispensable supplier, the one they call first for critical parts.

Dedicated technical support and design-in assistance via FAEs

Vishay Intertechnology maintains direct technical engagement, which is key for complex, high-reliability components. While specific Field Application Engineer (FAE) headcount isn't public, the focus on design-in success is clear in their stated goals. They actively work to create design opportunities that increase their print position at customers, targeting a significant share of the design specification.

• Targeting 80% of the bill of materials (BOM) in power applications for design-in wins.
• The company provides direct contact points for technical support across product categories.
• This support underpins their broad product line strategy, aiming for "one-stop shop" service for customers.

Strategic, long-term partnerships with key OEM customers

The relationship with major Original Equipment Manufacturers (OEMs) is built on serving high-growth, high-reliability markets. Vishay Intertechnology's strategy involves positioning itself for megatrends like electrification and data communications by expanding capacity for high-growth product lines. This long-term view is reflected in the performance of their key end markets as of Q2 2025.

Here's a look at the sequential revenue growth in key end markets during the second quarter of 2025:

End Market Segment	QoQ Revenue Increase (Q2 2025 vs Q1 2025)
Automotive	4%
Industrial	9%
Aerospace/Defense	5%

The company is actively working to re-engage previously underserved and inactive customers as part of these growth initiatives. They invested approximately $775 million over the past 2.5 years to add capacity specifically for these high-growth areas.

Transactional relationships managed through global distribution channels

A significant portion of Vishay Intertechnology's business flows through distribution, which handles more transactional, volume-based sales. This channel performed strongly in the first half of 2025, indicating healthy inventory replenishment and broader market acceptance.

The distribution channel's contribution to the overall business is substantial:

• Distribution channels contributed 56% of total revenue in Q2 2025.
• This channel saw 11% sequential growth and 5% year-over-year growth in Q2 2025.
• The distribution revenue increase was supported by adding nearly 50,000 SKUs to inventory to reduce channel inventory weeks.

Overall, the company's Q2 2025 revenue was $762.3 million, showing growth across all channels. The Trailing Twelve Month (TTM) revenue as of late 2025 stands at nearly $2.98 Billion USD.

Cross-selling initiatives to increase share of customer's bill of materials

Vishay Intertechnology leverages its broad portfolio-offering both discrete semiconductors and passive components-to drive deeper penetration within existing customer designs. This is the essence of cross-selling for them: getting more of their parts designed into a single system. They are focused on expanding their technology breadth to serve customer demand more fully. This effort is directly tied to their design-in goal, aiming to capture a larger percentage of the total component spend in key power applications.

Vishay Intertechnology, Inc. (VSH) - Canvas Business Model: Channels

You're looking at how Vishay Intertechnology, Inc. gets its components-from power MOSFETs to capacitors-into the hands of the engineers building the next generation of tech. The channel strategy is a mix of direct engagement and broad distribution.

Direct sales force to Original Equipment Manufacturers (OEMs) and EMS

Vishay Intertechnology, Inc. maintains a direct sales presence to reach large Original Equipment Manufacturers (OEMs) and Electronics Manufacturing Services (EMS) providers. This direct route is supported by dedicated staff, including direct field sales personnel and Field Application Engineers (FAEs). These FAEs, organized by market segment like automotive or industrial, bring specific knowledge to help customers design products using Vishay's entire portfolio. For instance, in the second quarter of 2025, the EMS channel saw a jump, with sales increasing by 13% sequentially, showing the direct engagement with high-volume manufacturers is working. The company's trailing twelve-month revenue as of September 30, 2025, stood at $2.98B, a significant portion of which is driven by these direct OEM/EMS relationships.

Global network of authorized catalogue and volume distributors

To cover the vast landscape of smaller customers and design-in opportunities, Vishay Intertechnology relies heavily on its global network of authorized distributors. This channel is crucial for broad market coverage. In the second quarter of 2025, the distribution channel contributed to the overall positive momentum, delivering growth. The company actively directs customers to its authorized partners via its website, listing options to Find a Distributor globally. This network helps Vishay serve its diverse customer base across industrial, computing, consumer, and medical markets.

Here's a look at the geographic scope and recent channel performance context:

Metric	Value/Detail	Reference Period/Context
Q2 2025 Revenue	$762 M	Fiscal Second Quarter Ended June 28, 2025
Distribution Channel Growth	Growth reported	Sequential growth in Q2 2025
EMS Channel Growth	13% increase	Sequential growth in Q2 2025
Manufacturing Footprint Regions	Israel, Asia, Europe, and the Americas	Indicates major market support presence
Sales Support Personnel Types	Direct field sales, independent manufacturers' representatives, and FAEs	Standard channel support structure

Online technical resources and design tools for engineers

Vishay Intertechnology supports its sales channels by providing extensive online resources aimed at the design engineer. The company maintains an Engineer's Toolbox and a Document Library on its website. These digital assets help engineers select components and integrate them into new designs, effectively acting as a self-service channel extension. You can find sections for Request Sample and check stock availability online, streamlining the early design-in process.

Regional sales offices supporting major markets (Asia, Europe, Americas)

The physical sales support structure mirrors the company's manufacturing footprint, ensuring localized support in key economic zones. Vishay Intertechnology has manufacturing plants located across Asia, Europe, and the Americas. This physical presence supports the regional sales offices that cater to major markets in those areas. The Q2 2025 results confirmed this strategy, showing growth across all regions, which suggests the localized sales and support teams are effectively managing demand, including the 2% positive foreign currency impact noted in the quarter.

Vishay Intertechnology, Inc. (VSH) - Canvas Business Model: Customer Segments

You're looking at the core markets Vishay Intertechnology, Inc. serves, which is where their $762.3 million in revenue for the second quarter of 2025 came from. The company noted growth across all end markets in that quarter, which contributed to a 7% sequential revenue increase.

The overall order health looks decent, with the book-to-bill ratio hitting 1.02 in Q2 2025, and the backlog standing at 4.6 months, representing about $1.2 billion in dollar terms.

Here is a look at the key customer areas Vishay Intertechnology focuses on:

Automotive sector (EVs, ADAS, hybrid vehicles)

This sector is a clear focus area, explicitly mentioned alongside smart grid and AI as a driver for growth. The company is positioning itself to capitalize on the electrification trend, which is supported by their recent product launches, such as the 1200 V SiC MOSFET power modules announced on December 3, 2025, designed for next-generation electric vehicles.

Industrial markets (smart grid, power supplies, factory automation)

The industrial segment showed a rebound, with management citing growth from the smart grid infrastructure sector. Order intake for smart grid projects more than doubled in Europe, and government spending in China and India is accelerating smart grid infrastructure. Vishay Intertechnology has deployed approximately $775 million since 2023 to expand capacity, with at least 70% of the planned $300 million to $350 million capital expenditure for 2025 dedicated to high-growth product lines, which certainly includes industrial power needs.

Computing and Data Centers (AI servers, power management)

Demand related to AI power applications is a significant tailwind, particularly in Asia. Vishay expects to win additional smart grid projects as customers address electricity demands in AI data centers. This segment is critical for the company's future revenue trajectory.

Telecommunications, Military, Aerospace, and Medical equipment manufacturers

These specialized, often higher-reliability markets remain a consistent base for Vishay Intertechnology's components. The company's components are essential for devices in these sectors. The CEO specifically highlighted aerospace and defense as one of the higher growth markets they are positioning for.

Electronic Manufacturing Services (EMS) providers globally

EMS customers are a key channel for Vishay Intertechnology. In Q2 2025, growth was delivered to EMS customers, and distribution revenues benefited from nearly 50,000 SKUs added to inventory, which helped reduce channel inventory weeks.

To give you a snapshot of the business health supporting these segments as of the second quarter of 2025, look at these figures:

Metric	Value (Q2 2025)	Context/Outlook
Total Revenue (TTM)	$2.98 Billion USD	Compared to $2.93 Billion USD in 2024.
Q2 2025 Revenue	$762.3 million	Sequential growth of 7%; Q3 2025 guidance is $775 million +/- $20 million.
Passive Components Book-to-Bill	1.06	Stronger than Semiconductors at 0.98.
Asia Revenue Share	42%	Up from 40% in Q1 2025, with 12% year-over-year growth.
Total Backlog	4.6 months	Represents approximately $1.2 billion in dollar terms.

The geographic mix shows where the immediate strength is coming from. Asia contributed 42% of total revenue in Q2 2025, showing 12% sequential and 12% year-over-year growth. The Americas saw 7% sequential growth but declined 2% year-over-year, while Europe was flat quarter-over-quarter and fell 3% year-over-year.

Vishay Intertechnology's components are fundamental to these markets, which is why they are investing heavily:

• Invested ~$775 million since 2023 to expand capacity.
• Planned 2025 capital expenditure is between $300,000,000 and $350,000,000.
• At least 70% of 2025 CapEx targets high-growth product lines.
• The company maintains a steady quarterly dividend of $0.10 per share.

Finance: draft 13-week cash view by Friday.

Vishay Intertechnology, Inc. (VSH) - Canvas Business Model: Cost Structure

You're looking at where Vishay Intertechnology, Inc. is spending its money to keep the lights on and drive future growth. The cost structure is heavily weighted toward capital investment right now, which makes sense given the market trends you're tracking.

The company is definitely in a high capital intensity phase due to its manufacturing and capacity expansion under the Vishay 3.0 plan. They targeted capital spending of $300 million to $350 million in 2025 for these projects. Honestly, 70% of that CapEx is specifically earmarked for high-growth product lines, which is a clear signal about where they see future margins. This aggressive spending means they expect negative free cash flow for 2025 because of these capacity build-outs. To give you context, the full year 2024 CapEx was $320.1 million.

Selling, General, and Administrative (SG&A) expenses are a major operating cost. For the full year 2025, the expectation is that SG&A will land between $540 million and $560 million, not counting a one-time benefit recognized in Q2. Looking at the quarterly cadence, Q3 2025 SG&A was guided around $138 million plus or minus $2 million. For comparison, Q2 2025 SG&A was reported at $127 million, which included an $11 million benefit from resolving an outstanding matter.

Cost of Goods Sold (COGS) is significant, driven by raw materials and the labor needed for manufacturing the components. Inventory levels show the material commitment; for instance, Raw materials inventory at the end of Q2 2025 was $235,898 thousand, up from $220,484 thousand in Q1 2025. The gross margin reflects these costs; for Q2 2025, the gross margin hit 19.5% on $149 million in gross profit.

Research and Development (R&D) investment is focused on securing future high-margin revenue, particularly in Silicon Carbide (SiC) technology. This isn't just talk; they are actively launching products, such as the 1200 V SiC MOSFET power modules announced on December 3, 2025. Their SiC platform is a key focus, addressing demands in traction inverters and EV charging stations. In some reference designs shown in mid-2025, components like their latest SiC MOSFETs made up 70% or more of the Bill of Materials (BOM).

Finally, you need to account for the non-cash charges like depreciation. The guidance for Q4 2025 depreciation expense is set at approximately $55 million for that quarter. The total expected depreciation expense for the entirety of fiscal 2025 is projected to be $212 million. For Q3 2025, the expected depreciation was $54 million.

Here's a quick math summary of the key 2025 cost and investment figures we've seen:

Cost/Investment Category	2025 Figure/Range	Period/Context
Targeted Capital Expenditures (CapEx)	$300M - $350M	Full Year 2025 Spending
Expected Full Year SG&A Expense	$540M - $560M	Full Year 2025 Guidance (Excluding Q2 benefit)
Expected Full Year Depreciation Expense	$212 Million	Full Year 2025 Projection
Q4 2025 Depreciation Expense Estimate	Approximately $55 Million	Q4 2025 Guidance
Raw Materials Inventory	$235,898 Thousand	End of Q2 2025
CapEx Allocation to High-Growth Products	70%	Of 2025 CapEx

The major cost drivers related to product creation involve:

• Raw materials, with inventory levels fluctuating, such as $235,898 thousand in Q2 2025.
• Manufacturing labor costs embedded within Cost of Goods Sold.
• Significant capital outlay for capacity expansion, which drives future depreciation.

The investment in future profitability is clear through R&D focus:

• Developing new SiC MOSFET technology, with product launches continuing into December 2025.
• Focusing on high-margin products that can capture megatrends like e-mobility.
• Allocating 70% of the $300M-$350M CapEx to these growth areas.

Vishay Intertechnology, Inc. (VSH) - Canvas Business Model: Revenue Streams

You're looking at the top-line generation for Vishay Intertechnology, Inc. as of their latest reported quarter in late 2025. The revenue streams are fundamentally split between their two main product categories: discrete semiconductors and passive electronic components. Honestly, understanding this split helps you see where the dollar is coming from.

For the fiscal third quarter ended September 27, 2025, Vishay Intertechnology, Inc. reported total revenues of $790.6 million. On a trailing twelve months (TTM) basis leading up to that point, the total revenue stood at $2.98B. This TTM figure shows a slight year-over-year decline of -0.84%.

A key component of the reported revenue, which you need to track for margin analysis, is the revenue derived from tariff adders. Vishay Intertechnology, Inc. management has confirmed they are generally passing through additional tariff costs to customers. So, these tariff adders boost the top-line revenue number, but they do not impact the gross profit, though they do negatively affect the reported gross margin by about 30 basis points in some prior guidance. The CFO also noted steps were being put in place to pass metal increases on to customers as of Q3 2025.

Here's a quick look at the key financial snapshot around that Q3 2025 revenue:

Metric	Value
Q3 2025 Reported Revenue	$790.6 million
TTM Revenue (as of Q3 2025)	$2.98B
Q3 2025 Book-to-Bill Ratio (Overall)	0.97
Q3 2025 Gross Margin	19.5%

The revenue generation is directly tied to the performance of the two major product groups. You can see the demand signals in the segment book-to-bill ratios for Q3 2025:

• Sales of Discrete Semiconductors book-to-bill was 0.96.
• Sales of Passive Electronic Components book-to-bill was 0.98.

Drilling down into specific component sales for Q3 2025 gives you a clearer picture of where the growth was concentrated, even with the overall book-to-bill below 1.0:

Component Category	Q3 2025 Revenue	Noted Performance/Margin
MOSFETs (Discrete Semiconductor)	$167.1 million	Strongest sequential growth at 12.4%
Capacitors (Passive Component)	$130.6 million	Robust growth at 7.8% sequential; 20.1% gross margin
Inductors (Passive Component)	Data not specified	Highest margin segment at 30.7%
Diodes (Discrete Semiconductor)	Data not specified	Margin pressure noted

The CEO noted that this revenue growth demonstrated alignment with high-growth markets, which directly translates to the demand for these components. Specifically, the revenue is supported by:

• Smart grid infrastructure demand.
• AI related power requirements.
• Automotive and aerospace/defense sectors.

The company is using heavy investments in capacity expansion to meet these quick-turn delivery requirements. That's how they convert potential demand into realized revenue.