Intrinsic value of Vishay Intertechnology - VSH

Previous Close

$16.80

  Intrinsic Value

$53.00

stock screener

  Rating & Target

str. buy

+215%

  Value-price divergence*

+13%

Previous close

$16.80

 
Intrinsic value

$53.00

 
Up/down potential

+215%

 
Rating

str. buy

 
Value-price divergence*

+13%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of VSH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  1.00
  6.10
  5.99
  5.89
  5.80
  5.72
  5.65
  5.58
  5.53
  5.47
  5.43
  5.38
  5.35
  5.31
  5.28
  5.25
  5.23
  5.20
  5.18
  5.17
  5.15
  5.13
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.06
  5.06
  5.05
Revenue, $m
  2,323
  2,465
  2,612
  2,766
  2,927
  3,094
  3,269
  3,452
  3,642
  3,842
  4,050
  4,268
  4,496
  4,735
  4,985
  5,247
  5,521
  5,808
  6,109
  6,425
  6,756
  7,103
  7,466
  7,848
  8,248
  8,667
  9,108
  9,569
  10,054
  10,563
  11,096
Variable operating expenses, $m
 
  472
  500
  528
  558
  589
  622
  656
  691
  728
  767
  794
  836
  880
  927
  976
  1,027
  1,080
  1,136
  1,195
  1,256
  1,321
  1,388
  1,459
  1,534
  1,612
  1,693
  1,779
  1,869
  1,964
  2,063
Fixed operating expenses, $m
 
  1,855
  1,902
  1,949
  1,998
  2,048
  2,099
  2,152
  2,205
  2,260
  2,317
  2,375
  2,434
  2,495
  2,557
  2,621
  2,687
  2,754
  2,823
  2,894
  2,966
  3,040
  3,116
  3,194
  3,274
  3,356
  3,440
  3,526
  3,614
  3,704
  3,797
Total operating expenses, $m
  2,208
  2,327
  2,402
  2,477
  2,556
  2,637
  2,721
  2,808
  2,896
  2,988
  3,084
  3,169
  3,270
  3,375
  3,484
  3,597
  3,714
  3,834
  3,959
  4,089
  4,222
  4,361
  4,504
  4,653
  4,808
  4,968
  5,133
  5,305
  5,483
  5,668
  5,860
Operating income, $m
  115
  137
  211
  289
  371
  457
  548
  644
  746
  853
  966
  1,100
  1,226
  1,360
  1,501
  1,650
  1,808
  1,974
  2,151
  2,337
  2,534
  2,742
  2,962
  3,195
  3,440
  3,700
  3,975
  4,265
  4,571
  4,895
  5,236
EBITDA, $m
  274
  252
  332
  416
  504
  598
  696
  799
  909
  1,024
  1,146
  1,274
  1,410
  1,553
  1,705
  1,864
  2,033
  2,212
  2,400
  2,600
  2,810
  3,033
  3,267
  3,516
  3,778
  4,055
  4,347
  4,656
  4,982
  5,327
  5,690
Interest expense (income), $m
  19
  19
  23
  27
  32
  36
  41
  46
  51
  56
  62
  68
  74
  80
  87
  94
  101
  109
  117
  125
  134
  143
  153
  163
  174
  185
  197
  209
  222
  236
  250
Earnings before tax, $m
  94
  118
  188
  261
  339
  421
  507
  598
  695
  797
  904
  1,032
  1,152
  1,279
  1,414
  1,556
  1,706
  1,866
  2,034
  2,212
  2,400
  2,599
  2,809
  3,031
  3,267
  3,515
  3,778
  4,055
  4,349
  4,659
  4,986
Tax expense, $m
  45
  32
  51
  71
  92
  114
  137
  162
  188
  215
  244
  279
  311
  345
  382
  420
  461
  504
  549
  597
  648
  702
  758
  818
  882
  949
  1,020
  1,095
  1,174
  1,258
  1,346
Net income, $m
  49
  86
  137
  191
  247
  307
  370
  437
  507
  582
  660
  753
  841
  934
  1,032
  1,136
  1,246
  1,362
  1,485
  1,614
  1,752
  1,897
  2,051
  2,213
  2,385
  2,566
  2,758
  2,960
  3,175
  3,401
  3,640

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  1,098
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,078
  2,101
  2,227
  2,358
  2,495
  2,638
  2,787
  2,942
  3,105
  3,275
  3,453
  3,639
  3,833
  4,037
  4,250
  4,473
  4,707
  4,952
  5,208
  5,477
  5,759
  6,055
  6,365
  6,690
  7,031
  7,389
  7,764
  8,158
  8,571
  9,005
  9,460
Adjusted assets (=assets-cash), $m
  1,980
  2,101
  2,227
  2,358
  2,495
  2,638
  2,787
  2,942
  3,105
  3,275
  3,453
  3,639
  3,833
  4,037
  4,250
  4,473
  4,707
  4,952
  5,208
  5,477
  5,759
  6,055
  6,365
  6,690
  7,031
  7,389
  7,764
  8,158
  8,571
  9,005
  9,460
Revenue / Adjusted assets
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
  1.173
Average production assets, $m
  951
  1,008
  1,068
  1,131
  1,197
  1,266
  1,337
  1,412
  1,490
  1,571
  1,656
  1,746
  1,839
  1,937
  2,039
  2,146
  2,258
  2,376
  2,499
  2,628
  2,763
  2,905
  3,054
  3,210
  3,373
  3,545
  3,725
  3,914
  4,112
  4,320
  4,538
Working capital, $m
  1,407
  328
  347
  368
  389
  412
  435
  459
  484
  511
  539
  568
  598
  630
  663
  698
  734
  773
  813
  855
  899
  945
  993
  1,044
  1,097
  1,153
  1,211
  1,273
  1,337
  1,405
  1,476
Total debt, $m
  446
  539
  635
  736
  840
  949
  1,063
  1,182
  1,306
  1,436
  1,572
  1,714
  1,863
  2,018
  2,181
  2,351
  2,530
  2,717
  2,913
  3,119
  3,334
  3,560
  3,797
  4,045
  4,306
  4,579
  4,866
  5,167
  5,482
  5,814
  6,161
Total liabilities, $m
  1,512
  1,605
  1,701
  1,802
  1,906
  2,015
  2,129
  2,248
  2,372
  2,502
  2,638
  2,780
  2,929
  3,084
  3,247
  3,417
  3,596
  3,783
  3,979
  4,185
  4,400
  4,626
  4,863
  5,111
  5,372
  5,645
  5,932
  6,233
  6,548
  6,880
  7,227
Total equity, $m
  1,566
  496
  526
  557
  589
  623
  658
  694
  733
  773
  815
  859
  905
  953
  1,003
  1,056
  1,111
  1,169
  1,229
  1,293
  1,359
  1,429
  1,502
  1,579
  1,659
  1,744
  1,832
  1,925
  2,023
  2,125
  2,232
Total liabilities and equity, $m
  3,078
  2,101
  2,227
  2,359
  2,495
  2,638
  2,787
  2,942
  3,105
  3,275
  3,453
  3,639
  3,834
  4,037
  4,250
  4,473
  4,707
  4,952
  5,208
  5,478
  5,759
  6,055
  6,365
  6,690
  7,031
  7,389
  7,764
  8,158
  8,571
  9,005
  9,459
Debt-to-equity ratio
  0.285
  1.090
  1.210
  1.320
  1.430
  1.520
  1.620
  1.700
  1.780
  1.860
  1.930
  2.000
  2.060
  2.120
  2.170
  2.230
  2.280
  2.330
  2.370
  2.410
  2.450
  2.490
  2.530
  2.560
  2.590
  2.630
  2.660
  2.680
  2.710
  2.740
  2.760
Adjusted equity ratio
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236
  0.236

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  49
  86
  137
  191
  247
  307
  370
  437
  507
  582
  660
  753
  841
  934
  1,032
  1,136
  1,246
  1,362
  1,485
  1,614
  1,752
  1,897
  2,051
  2,213
  2,385
  2,566
  2,758
  2,960
  3,175
  3,401
  3,640
Depreciation, amort., depletion, $m
  159
  115
  121
  127
  134
  141
  148
  155
  163
  171
  180
  175
  184
  194
  204
  215
  226
  238
  250
  263
  276
  290
  305
  321
  337
  354
  373
  391
  411
  432
  454
Funds from operations, $m
  314
  201
  258
  318
  381
  448
  518
  592
  670
  753
  840
  928
  1,025
  1,128
  1,236
  1,351
  1,472
  1,599
  1,734
  1,877
  2,028
  2,188
  2,356
  2,534
  2,722
  2,920
  3,130
  3,352
  3,586
  3,833
  4,094
Change in working capital, $m
  18
  19
  20
  20
  21
  22
  23
  24
  25
  27
  28
  29
  30
  32
  33
  35
  36
  38
  40
  42
  44
  46
  48
  51
  53
  56
  59
  61
  64
  68
  71
Cash from operations, $m
  296
  182
  238
  298
  360
  426
  495
  568
  645
  726
  812
  899
  995
  1,096
  1,203
  1,316
  1,435
  1,561
  1,694
  1,835
  1,984
  2,141
  2,308
  2,483
  2,669
  2,865
  3,072
  3,290
  3,521
  3,765
  4,023
Maintenance CAPEX, $m
  0
  -95
  -101
  -107
  -113
  -120
  -127
  -134
  -141
  -149
  -157
  -166
  -175
  -184
  -194
  -204
  -215
  -226
  -238
  -250
  -263
  -276
  -290
  -305
  -321
  -337
  -354
  -373
  -391
  -411
  -432
New CAPEX, $m
  -135
  -58
  -60
  -63
  -66
  -68
  -71
  -75
  -78
  -82
  -85
  -89
  -93
  -98
  -102
  -107
  -112
  -118
  -123
  -129
  -135
  -142
  -149
  -156
  -164
  -172
  -180
  -189
  -198
  -208
  -218
Cash from investing activities, $m
  -149
  -153
  -161
  -170
  -179
  -188
  -198
  -209
  -219
  -231
  -242
  -255
  -268
  -282
  -296
  -311
  -327
  -344
  -361
  -379
  -398
  -418
  -439
  -461
  -485
  -509
  -534
  -562
  -589
  -619
  -650
Free cash flow, $m
  147
  30
  77
  128
  181
  237
  297
  359
  426
  496
  570
  644
  727
  814
  907
  1,005
  1,108
  1,218
  1,334
  1,456
  1,586
  1,723
  1,868
  2,022
  2,184
  2,356
  2,537
  2,729
  2,932
  3,146
  3,373
Issuance/(repayment) of debt, $m
  -82
  93
  96
  100
  105
  109
  114
  119
  124
  130
  136
  142
  149
  156
  163
  171
  179
  187
  196
  206
  215
  226
  237
  248
  261
  273
  287
  301
  316
  331
  348
Issuance/(repurchase) of shares, $m
  -23
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -105
  93
  96
  100
  105
  109
  114
  119
  124
  130
  136
  142
  149
  156
  163
  171
  179
  187
  196
  206
  215
  226
  237
  248
  261
  273
  287
  301
  316
  331
  348
Total cash flow (excl. dividends), $m
  33
  123
  173
  228
  286
  346
  411
  478
  550
  626
  706
  786
  875
  970
  1,070
  1,175
  1,287
  1,405
  1,530
  1,662
  1,801
  1,949
  2,105
  2,270
  2,445
  2,629
  2,824
  3,030
  3,247
  3,477
  3,720
Retained Cash Flow (-), $m
  56
  -28
  -30
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -42
  -44
  -46
  -48
  -50
  -53
  -55
  -58
  -61
  -63
  -67
  -70
  -73
  -77
  -80
  -84
  -89
  -93
  -97
  -102
  -107
Prev. year cash balance distribution, $m
 
  1,098
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  1,193
  144
  197
  253
  313
  375
  442
  512
  585
  664
  742
  830
  922
  1,019
  1,123
  1,232
  1,347
  1,469
  1,598
  1,735
  1,879
  2,032
  2,193
  2,364
  2,545
  2,735
  2,937
  3,150
  3,375
  3,613
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  1,144
  131
  171
  209
  242
  272
  298
  320
  336
  348
  353
  354
  351
  342
  330
  313
  293
  271
  246
  220
  194
  169
  144
  120
  99
  80
  63
  49
  37
  27
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive components in the United States, Europe, and Asia. The company operates in five segments: MOSFETs, Diodes, Optoelectronic Components, Resistors & Inductors, and Capacitors. The MOSFETs segment offers low- and medium-voltage TrenchFET MOSFETs, high-voltage planar MOSFETs, high voltage super junction MOSFETs, power integrated circuits, and integrated function power devices. The Diodes segment provides rectifiers, small signal diodes, protection diodes, thyristors or silicon-controlled rectifiers, power modules, and IGBTs. The Optoelectronic segment provides standard and customer specific optoelectronic components, such as infrared (IR) emitters and detectors, IR remote control receivers, optocouplers, solid-state relays, optical sensors, light-emitting diodes, 7-segment displays, and IR data transceiver modules. The Resistors & Inductors segment provides film, wirewound, power metal strip, crowbar and steel blade, variable, and non-linear resistors, as well as battery management shunts, thermo fuses, chip fuses, pryotechnic initiators/ignitors, networks/arrays, magnetics, and connectors. The Capacitors segment offers tantalum, ceramic, film, power, heavy-current, and aluminum electrolytic capacitors. The company’s semiconductor components are used for power control, power conversion, power management, signal switching, signal routing, signal blocking, signal amplification, two-way data transfer, one-way remote control, and circuit isolation functions; and passive components are used to restrict current flow, suppress voltage increases, store and discharge energy, control alternating current and voltage, filter out unwanted electrical signals, and perform other functions. It serves industrial, computing, automotive, consumer, telecommunications, military, power supplies, aerospace, and medical markets. The company was founded in 1962 and is based in Malvern, Pennsylvania.

FINANCIAL RATIOS  of  Vishay Intertechnology (VSH)

Valuation Ratios
P/E Ratio 50.1
Price to Sales 1.1
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 8.3
Price to Free Cash Flow 15.2
Growth Rates
Sales Growth Rate 1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -8.2%
Cap. Spend. - 3 Yr. Gr. Rate -2.5%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 28.5%
Total Debt to Equity 28.5%
Interest Coverage 6
Management Effectiveness
Return On Assets 1.9%
Ret/ On Assets - 3 Yr. Avg. 0.6%
Return On Total Capital 2.4%
Ret/ On T. Cap. - 3 Yr. Avg. 0.9%
Return On Equity 3.1%
Return On Equity - 3 Yr. Avg. 1%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 24.5%
Gross Margin - 3 Yr. Avg. 24.2%
EBITDA Margin 11.7%
EBITDA Margin - 3 Yr. Avg. 12.7%
Operating Margin 5%
Oper. Margin - 3 Yr. Avg. 5.5%
Pre-Tax Margin 4%
Pre-Tax Margin - 3 Yr. Avg. 4.7%
Net Profit Margin 2.1%
Net Profit Margin - 3 Yr. Avg. 0.7%
Effective Tax Rate 47.9%
Eff/ Tax Rate - 3 Yr. Avg. 107.1%
Payout Ratio 75.5%

VSH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VSH stock intrinsic value calculation we used $2323 million for the last fiscal year's total revenue generated by Vishay Intertechnology. The default revenue input number comes from 2016 income statement of Vishay Intertechnology. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VSH stock valuation model: a) initial revenue growth rate of 6.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for VSH is calculated based on our internal credit rating of Vishay Intertechnology, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Vishay Intertechnology.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VSH stock the variable cost ratio is equal to 19.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $1810 million in the base year in the intrinsic value calculation for VSH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.3% for Vishay Intertechnology.

Corporate tax rate of 27% is the nominal tax rate for Vishay Intertechnology. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VSH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VSH are equal to 40.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Vishay Intertechnology operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VSH is equal to 13.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1566 million for Vishay Intertechnology - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 143.119 million for Vishay Intertechnology is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Vishay Intertechnology at the current share price and the inputted number of shares is $2.4 billion.

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COMPANY NEWS

▶ 4 Stocks Flaunting Low Price-to-Cash-Flow Ratio   [Aug-17-17 09:02AM  Zacks]
▶ Vishay beats 2Q profit forecasts   [Aug-03-17 09:57AM  Associated Press]
▶ Top 10 Stocks Under $20   [Jul-24-17 01:49PM  Zacks]
▶ 4 Stocks Flaunting Low Price-to-Cash-Flow Ratio   [Jul-17-17 09:20AM  Zacks]
▶ Back To The Future: Capacitor Maker Returns To Buy Zone   [Jun-08-17 04:33PM  Investor's Business Daily]
▶ Vishay beats 1Q profit forecasts   [May-03-17 07:42AM  Associated Press]
▶ Vishay reports 4Q loss   [07:58AM  AP]
Stock chart of VSH Financial statements of VSH
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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