Vishay Intertechnology(US:VSH)2026-02-13 12:11Financial Performance - In 2025, the company paid $54.2 million in dividends and repurchased $12.5 million of its stock despite generating negative free cash flow due to capacity expansion plans [222]. - The company intends to maintain its dividend and opportunistically repurchase shares based on U.S. available liquidity in line with its Stockholder Return Policy in 2026 [222]. Cash and Debt Management - As of December 31, 2025, the company had $219 million outstanding under revolving credit facilities, with future borrowings bearing interest at SOFR plus 2.10% [375]. - The company had $515.0 million in cash and cash equivalents and $0.3 million in short-term investments as of December 31, 2025 [376]. - The company has approximately 2.8 million shares remaining from previous repurchase authorizations as of December 31, 2025 [223]. Risk Exposure - A hypothetical 10% adverse movement in foreign currency exchange rates would impact the company's net earnings by approximately $25.5 million as of December 31, 2025 [380]. - A 10% increase or decrease in the costs of raw materials subject to commodity price risk would decrease or increase the company's net earnings by $10.8 million, assuming no impact on selling prices [386]. - The company is exposed to fluctuations in foreign currency exchange rates, interest rates, and commodity prices, managing these risks through established policies and derivative financial instruments [373]. - The company has no outstanding interest rate swap or cap agreements as of December 31, 2025 [374]. - The company is a major consumer of tantalum and silicon wafers, which are subject to price volatility and supply shortages [385].