Vishay Precision Group, Inc. VPG
Vishay Precision Group, Inc. ("VPG," the "Company," "we," "us" or "our") is a global leader in precision measurement and sensing technologies that help power the future by bridging the physical world with the digital one. Many of our specialized sensors, weighing solutions, and measurement systems are "designed-in" by our customers, and address growing applications across a diverse array of industries and markets. Our products are marketed under brand names that we believe are characterized as having a very high level of precision and quality.
Driven by the continued proliferation of data generated by the expanding use of sensors across a widening array of industrial and technology-driven applications, precision measurement and sensing technologies help ensure and deliver required levels of quality of mission-critical or high-value data. VPG's products are often at the first stage of a data value chain (i.e., the process of converting the physical world into a digital format that can be used for a specific purpose) and as such impact the effectiveness of vast number of critical, high-value downstream processes. Over the past few years, we have seen a broadening of precision sensing applications in both our traditional industrial markets and new markets, due to the development of higher functionality in our customers' end products. Our precision measurement solutions are used across a wide variety of end markets upon which we focus, including test and measurement, industrial, transportation, steel, avionics, military and space, as well as other markets such as agriculture, consumer, and medical. The Company has a long heritage of innovation in sensor technologies that provide accuracy, reliability and repeatability that make our customers' products safer, smarter, and more productive. As the functionality of customers' products continues to increase, and they integrate more precision measurement sensors and related systems into their solutions, we believe this will offer substantial growth opportunities for our products and expertise.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $307.2M | $306.5M | $355.0M | $362.6M | $317.9M | $269.8M | $284.0M | $299.8M | $254.3M | $224.9M |
| Cost of revenue | $187.8M | $181.0M | $204.7M | $213.0M | $192.8M | $165.5M | $172.3M | $178.5M | $156.1M | $142.1M |
| Gross profit | $119.4M | $125.5M | $150.3M | $149.6M | $125.1M | $104.3M | $111.6M | $121.3M | $98.3M | $82.8M |
| R&D | $20.8M | $20.0M | $20.4M | $19.8M | $17.2M | $12.6M | $12.1M | $11.8M | $11.7M | $11.1M |
| SG&A | $109.6M | $107.5M | $106.8M | $104.3M | $95.3M | $78.3M | $79.6M | $80.9M | $73.8M | $68.4M |
| Operating income | $13.8M | $16.9M | $42.0M | $43.8M | $27.4M | $22.7M | $28.6M | $37.2M | $22.5M | $11.3M |
| Interest expense | $1.9M | $2.5M | $4.0M | $2.3M | $1.2M | $1.4M | $1.5M | $1.7M | $1.8M | $1.5M |
| Pre-tax income | $8.8M | $17.6M | $38.4M | $45.1M | $25.9M | $18.3M | $26.4M | $34.0M | $20.6M | $9.6M |
| Income tax | $3.5M | $7.7M | $12.4M | $8.5M | $5.5M | $7.5M | $4.1M | $10.3M | $6.2M | $3.2M |
| Net income | $5.3M | $9.9M | $25.7M | $36.1M | $20.2M | $10.8M | $22.2M | $23.6M | $14.3M | $6.4M |
| EPS, basic | 0.40 | 0.74 | 1.89 | 2.65 | 1.49 | 0.80 | 1.64 | 1.76 | 1.08 | 0.49 |
| EPS, diluted | 0.40 | 0.74 | 1.88 | 2.63 | 1.48 | 0.79 | 1.63 | 1.75 | 1.07 | 0.48 |
| Shares, diluted (wtd. avg.) | $13.3M | $13.4M | $13.7M | $13.7M | $13.7M | $13.6M | $13.6M | $13.5M | $13.5M | $13.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $87.4M | $79.3M | $84.0M | $88.6M | $84.3M | $98.4M | $86.9M | $90.2M | $74.3M | $58.5M |
| Short-term investments | $0 | $0 | — | — | — | — | — | — | — | — |
| Receivables | $56.3M | $51.2M | $56.4M | $60.1M | $58.3M | $45.3M | $43.2M | $53.2M | $46.8M | $34.3M |
| Inventory | $82.8M | $84.2M | $88.1M | $84.7M | $76.4M | $62.3M | $66.9M | $62.2M | $59.9M | $56.3M |
| Total current assets | $247.0M | $236.9M | $243.1M | $251.8M | $234.9M | $221.9M | $212.6M | $214.9M | $191.3M | $155.9M |
| Property, plant and equipment | $76.1M | $79.5M | $90.6M | $87.1M | $81.2M | $75.0M | $61.3M | $59.4M | $55.7M | $55.3M |
| Goodwill | $47.4M | $46.8M | $45.7M | $45.5M | $45.8M | $31.1M | $35.0M | $16.1M | $19.2M | $18.7M |
| Other intangibles | $38.2M | $41.8M | $44.6M | $48.2M | $52.4M | $32.0M | $34.2M | $17.7M | $20.5M | $21.6M |
| Total assets | $455.9M | $450.9M | $471.6M | $476.7M | $461.9M | $401.9M | $370.4M | $326.4M | $306.6M | $270.5M |
| Accounts payable | $10.5M | $9.9M | — | — | — | — | — | — | — | — |
| Short-term debt | — | — | — | — | $0 | $18.0K | $44.5M | $4.7M | $3.9M | $2.6M |
| Total current liabilities | $55.3M | $53.0M | $61.6M | $64.3M | $64.6M | $47.5M | $88.9M | $54.8M | $51.9M | $36.9M |
| Long-term debt | $20.6M | $31.4M | $31.9M | $60.8M | $60.7M | $40.6M | $17.0K | $22.4M | $28.5M | $33.5M |
| Total liabilities | $119.7M | $129.1M | $141.6M | $170.2M | $184.8M | $144.0M | $128.7M | $107.9M | $113.2M | $99.0M |
| Retained earnings | $197.3M | $192.0M | $182.1M | $156.4M | $120.3M | $100.1M | $89.3M | $66.6M | $43.1M | $28.7M |
| Total equity | $336.4M | $322.0M | $329.9M | $306.5M | $277.0M | $257.9M | $241.8M | $218.5M | $193.3M | $171.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $14.4M | $19.8M | $45.9M | $33.0M | $33.5M | $35.3M | $30.9M | $35.4M | $22.7M | $11.5M |
| Depreciation and amortisation | $15.9M | $15.8M | $15.6M | $15.4M | $15.0M | $12.5M | $11.8M | $10.6M | $10.6M | $11.1M |
| Stock-based compensation | $1.8M | $971.0K | $2.3M | $2.4M | $2.2M | $1.4M | $1.3M | $1.8M | $1.5M | $37.0K |
| Capital expenditure | $8.0M | $9.2M | $15.2M | $21.3M | $17.1M | $22.9M | $10.5M | $13.2M | $10.1M | $10.4M |
| Investing cash flow | $2.9M | -$12.9M | -$15.1M | -$20.8M | -$64.0M | -$21.8M | -$51.1M | -$14.4M | -$6.4M | -$16.8M |
| Financing cash flow | -$11.4M | -$9.4M | -$35.9M | -$3.6M | $18.8M | -$5.0M | $16.5M | -$3.5M | -$3.0M | $2.8M |
| Buybacks | $0 | $7.8M | $5.9M | $2.7M | $0 | $0 | — | — | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-011815.
Others in SIC 3670
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| HUBB | HUBBELL INC | $24.35B | 27.9x | 3.8% |
| MRCY | MERCURY SYSTEMS INC | $4.96B | — | 7.9% |
| VSH | VISHAY INTERTECHNOLOGY INC | $4.35B | — | 4.5% |
| OLED | UNIVERSAL DISPLAY CORP \PA\ | $3.78B | 16.2x | 0.5% |
| KULR | KULR Technology Group, Inc. | $118.0M | — | 50.6% |
| LNKS | Linkers Industries Ltd | — | — | 12.0% |