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What does Vishay Intertechnology do and what are its main business segments?

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What is Vishay Intertechnology's gross profit margin?

- **Revenue Momentum**: Q3 2025 revenue up 8% YoY, driven by automotive, industrial, and AI server power demand.
- **Gross Margin Challenges**: 19.5% Q3, with Newport fab headwinds expected to ease by Q1 2026.
- **Strategic Growth**: 2026 consensus for 7%+ revenue growth, 23.6% gross margin via capacity expansion and cross-selling opportunities.
- **Risk Mitigation**: Active engagement with OEMs to prevent production line-downs amid Nexperia export restrictions.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue of $791 million, up 4% sequentially and 8% year-over-year, driven by automotive, industrial, and AI-related power demand. Book-to-bill ratio of 0.97, with October orders at a run rate of 1.15.
- **Market Performance**: Automotive revenue increased 7% QoQ, industrial up 2%, and AI server-related sales in Asia grew 4%. Short-term delivery orders (e.g., expedites) accounted for over 50% of Asia sales.
- **Strategic Initiatives**: Expanded capacity investments ($179M YTD) and cross-selling efforts in automotive and medical markets.

**【CFO Financial Commentary】**
- **Gross Margin**: 19.5% (Q3), with Newport fab dragging 150-170bps in Q4. Metal prices (gold, silver) and FX headwinds offset by tariff cost pass-through.
- **Cash Flow**: Q3 free cash flow (-$24M), with $52M CapEx for capacity expansion. 2025 guidance: $790M±$20M, gross margin 19.5%±50bps.
- **Liquidity**: $444M cash, $189M revolver draw for U.S. operations.

**【Q&A Highlights】**
- **Nexperia Impact**: OEMs seeking alternative suppliers amid export restrictions; Vishay in active discussions to mitigate automotive line-down risks.
- **2026 Outlook**: Consensus for 7%+ revenue growth, targeting 23.6% gross margin with Newport fab neutralization by Q1 2026.

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