F

Vishay Intertechnology, Inc. — Earnings Quality Grade F

VSH · Technology

Major red flags

Revenue
$3.1B
2025
Net Income
-$9M
2025
Gross Margin
19.4%
Free Cash Flow
-$89M
01

Screening Summary

11
Passed
5
Watch
1
Failed
-2.68
M-Score

Management Signals

No recent CEO, CFO, board, or accounting leadership signals found in SEC 8-K filings.
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

DSO 45 days, change -5 days YoY

A2AR vs Revenue Growth

AR growth -5.0% vs revenue growth 4.5%

A3Revenue vs CFFO

Revenue 4.5%, CFFO 6.1%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

Inventory 10.1% vs COGS 7.0%. Normal

B2CapEx vs Revenue

CapEx growth -14.6% vs revenue 4.5%. Normal

!
B3SG&A Ratio

SG&A/Gross Profit = 90.4%, exceeds 70%

B4Gross Margin

Gross margin 19.4%, change -1.9pp. Stable

03

Cash Flow Quality

!
C1CFFO vs Net Income

CFFO/NI = -20.53. Below 1.0

!
C2Free Cash Flow

FCF is negative ($-0.1B)

C3Accruals Ratio

Accruals ratio = -4.6%. Low accruals

C4Cash vs Debt

Cash $0.5B covers only 48% of debt $1.1B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $0.3B = 12% of equity. Manageable

!
D2Leverage

Interest coverage = 1.5x (<2x). Financial stress

D3Soft Asset Growth

Other assets 6.3% vs revenue 4.5%. Normal

D4Asset Impairment

No write-off data

05

Acquisition Risk

!
E1Serial Acquirer FCF

FCF after acquisitions negative for 2/3 years

E2Goodwill Surge

Goodwill+Intangibles change -3% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

M-Score = -2.68 (< -2.22). Unlikely manipulator

Portfolio monitoring

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04

Beneish M-Score

Manipulation Probability-2.68
-4.0 Clean-2.22 Grey-1.78 Danger0
0.909
DSRI
AR growing faster than revenue?
1.1
GMI
Gross margin declining?
1.012
AQI
Asset quality deteriorating?
1.045
SGI
Revenue growth rate
1.009
DEPI
Depreciation slowing?
1.003
SGAI
SG&A ratio changing?
-0.0456
TATA
Accruals level
1.006
LVGI
Leverage increasing?
05

Altman Z-Score

3.62
Safe Zone
0 Distress1.102.605.0+ Safe
0.2756
Liquidity
0.2107
Cumulative profit
0.0152
Operating efficiency
0.9732
Leverage

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25