olivLaw · US equity research
Vishay Precision Group, Inc. VPG
Electronic Components & Accessories · SIC 3670 · Vertical: Electronic Components & Accessories (SIC 3670)
Vishay Precision Group (VPG) designs precision sensors, weighing solutions and measurement systems, often designed into customers' products. In the second quarter of fiscal 2026 revenue rose 11.7% to 83.9 million USD, and orders reached 96 million USD. The company warns, however, that profitability remains under pressure from currency movements and delayed shipments.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Vishay Precision Group, Inc. (VPG) stock was 49.37 USD (−8.98% on the day), with market capitalisation 605.1 m USD, beta 2.16, 52-week range 29.28–149.91 USD. Latest reported quarter (Q3 2026): revenue of 85.1 m USD (+6.7% YoY), net income of 559.0 k USD (−92.9% YoY), diluted EPS 0.04 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 33.7
- weak (30–45)
- Bollinger (20, 2)
- 47.03 – 73.48
- in the lower half of the band · %B 0.09 · band width 43.9%
- SMA 50 / 200
- 64.30 / 73.98
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -4.31 / -3.50
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −36.8% | −1.1% | −35.7 pp | — |
| 3 months | −32.9% | −0.5% | −32.4 pp | — |
| 6 months | −22.3% | +4.4% | −26.7 pp | — |
| Year to date | +28.2% | +12.3% | +15.9 pp | — |
| 1 year | +38.3% | +13.5% | +24.8 pp | −11.6% |
| 3 years | +56.1% | +76.4% | −20.3 pp | +16.2% |
| 5 years | +33.5% | +63.7% | −30.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 03 Oct 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 72.7 m | 71.7 m | 75.2 m | 79.7 m | 80.6 m | 84.4 m | 83.9 m | 85.1 m |
| Cost of revenue | 44.9 m | 44.7 m | 44.6 m | 47.6 m | 50.9 m | 51.5 m | 51.5 m | 50.9 m |
| Gross profit | 27.8 m | 27.0 m | 30.6 m | 32.1 m | 29.7 m | 32.9 m | 32.4 m | 34.2 m |
| Research & development | 5.3 m | 4.9 m | 5.4 m | 5.0 m | 5.5 m | 5.6 m | 5.8 m | 5.4 m |
| SG&A | 27.3 m | 26.7 m | 27.7 m | 27.3 m | 27.9 m | 32.1 m | 32.0 m | 31.2 m |
| Operating income | 199.0 k | -60.0 k | 2.7 m | 10.2 m | 1.0 m | 340.0 k | -294.0 k | 2.7 m |
| Depreciation & amortisation | 4.0 m | 4.0 m | 3.9 m | 4.0 m | 4.0 m | 4.2 m | 4.1 m | 4.2 m |
| Interest expense | 587.0 k | 550.0 k | 550.0 k | 425.0 k | 412.0 k | 329.0 k | 345.0 k | 272.0 k |
| Pre-tax income | 1.9 m | -1.3 m | 896.0 k | 9.9 m | -705.0 k | -158.0 k | -1.9 m | 2.8 m |
| Income tax | 1.2 m | -332.0 k | 592.0 k | 2.0 m | 1.2 m | 129.0 k | -148.0 k | 2.1 m |
| Net income | 768.0 k | -942.0 k | 248.0 k | 7.9 m | -1.9 m | -319.0 k | -1.7 m | 559.0 k |
| Diluted EPS | 0.06 ≈ | -0.07 | 0.02 | 0.59 | -0.04 ≈ | -0.02 | -0.13 | 0.04 |
| Operating cash flow | 6.8 m | 5.2 m | 6.0 m ≈ | -1.3 m ≈ | 4.4 m | -596.0 k | 271.0 k ≈ | 11.1 m ≈ |
| Capex | 2.2 m | 1.5 m | 1.3 m ≈ | 2.2 m ≈ | 3.1 m | 3.1 m | 2.0 m ≈ | 5.6 m ≈ |
| Share repurchases | 0 | 0 | 0 ≈ | 0 ≈ | 0 | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 299.8 m | 284.0 m | 269.8 m | 317.9 m | 362.6 m | 355.0 m | 306.5 m | 307.2 m |
| Revenue YoY | +17.9% | −5.3% | −5.0% | +17.8% | +14.0% | −2.1% | −13.7% | +0.2% |
| Net income | 23.6 m | 22.2 m | 10.8 m | 20.2 m | 36.1 m | 25.7 m | 9.9 m | 5.3 m |
| Net income YoY | +64.8% | −6.2% | −51.4% | +87.5% | +78.3% | −28.7% | −61.4% | −46.6% |
| Diluted EPS | 1.75 | 1.63 | 0.79 | 1.48 | 2.63 | 1.88 | 0.74 | 0.40 |
| Diluted EPS YoY | +63.6% | −6.9% | −51.5% | +87.3% | +77.7% | −28.5% | −60.6% | −45.9% |
| net % | 7.9% | 7.8% | 4.0% | 6.4% | 9.9% | 7.2% | 3.2% | 1.7% |
| Free cash flow | 22.1 m | 20.4 m | 12.4 m | 16.5 m | 11.7 m | 30.7 m | 10.7 m | 6.4 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 87.4 m USD
- Financial debt
- 20.6 m USD
- Net debt
- -66.8 m USD
- Equity
- 336.2 m USD
- Total assets
- 455.9 m USD
- Debt / equity
- 0.06x
- Current ratio
- 4.47x
- ROE
- 1.6%
- ROA
- 1.2%
- FCF margin
- 2.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 269.8 m | 317.9 m | 362.6 m | 355.0 m | 306.5 m | 307.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Cost of revenue | 165.5 m | 192.8 m | 213.0 m | 204.7 m | 181.0 m | 187.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Gross profit | 104.3 m | 125.1 m | 149.6 m | 150.3 m | 125.5 m | 119.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Research & development | 12.6 m | 17.2 m | 19.8 m | 20.4 m | 20.0 m | 20.8 m | SEC (XBRL)· 27 Feb 2026verified |
| SG&A | 78.3 m | 95.3 m | 104.3 m | 106.8 m | 107.5 m | 109.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Operating income | 22.7 m | 27.4 m | 43.8 m | 42.0 m | 16.9 m | 13.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Depreciation & amortisation | 12.5 m | 15.0 m | 15.4 m | 15.6 m | 15.8 m | 15.9 m | SEC (XBRL)· 27 Feb 2026verified |
| EBITDA | 35.2 m ≈ | 42.4 m ≈ | 59.2 m ≈ | 57.5 m ≈ | 32.7 m ≈ | 29.8 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Interest expense | 1.4 m | 1.2 m | 2.3 m | 4.0 m | 2.5 m | 1.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | 18.3 m | 25.9 m | 45.1 m | 38.4 m | 17.6 m | 8.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Income tax | 7.5 m | 5.5 m | 8.5 m | 12.4 m | 7.7 m | 3.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 10.8 m | 20.2 m | 36.1 m | 25.7 m | 9.9 m | 5.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 0.79 | 1.48 | 2.63 | 1.88 | 0.74 | 0.40 | SEC (XBRL)· 27 Feb 2026verified |
| Weighted average diluted shares | 13.6 m | 13.7 m | 13.7 m | 13.7 m | 13.4 m | 13.3 m | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 98.4 m | 84.3 m | 88.6 m | 84.0 m | 79.3 m | 87.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Receivables | 45.3 m | 58.3 m | 60.1 m | 56.4 m | 51.2 m | 56.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Inventories | 62.3 m | 76.4 m | 84.7 m | 88.1 m | 84.2 m | 82.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Current assets | 221.9 m | 234.9 m | 251.8 m | 243.1 m | 236.9 m | 247.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Property, plant & equipment, net | 75.0 m | 81.2 m | 87.1 m | 90.6 m | 79.5 m | 76.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Goodwill | 31.1 m | 45.8 m | 45.5 m | 45.7 m | 46.8 m | 47.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Intangibles (excl. goodwill) | 32.0 m | 52.4 m | 48.2 m | 44.6 m | 41.8 m | 38.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 401.9 m | 461.9 m | 476.7 m | 471.6 m | 450.9 m | 455.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Accounts payable | — | — | — | — | 9.9 m | 10.5 m | SEC (XBRL)· 27 Feb 2026verified |
| Short-term debt | 18.0 k | 0 | — | 0 | — | — | SEC (XBRL)· 07 May 2024verified |
| Long-term debt | 40.6 m | 60.7 m | 60.8 m | 31.9 m | 31.4 m | 20.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Current liabilities | 47.5 m | 64.6 m | 64.3 m | 61.6 m | 53.0 m | 55.3 m | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 144.0 m | 184.8 m | 170.2 m | 141.6 m | 129.1 m | 119.7 m | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 257.9 m | 277.0 m | 306.5 m | 329.9 m | 321.9 m | 336.2 m | SEC (XBRL)· 27 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 35.3 m | 33.5 m | 33.0 m | 45.9 m | 19.8 m | 14.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Capex | 22.9 m | 17.1 m | 21.3 m | 15.2 m | 9.2 m | 8.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Free cash flow | 12.4 m ≈ | 16.5 m ≈ | 11.7 m ≈ | 30.7 m ≈ | 10.7 m ≈ | 6.4 m ≈ | SEC (XBRL)· 27 Feb 2026derived |
| Investing cash flow | -21.8 m | -64.0 m | -20.8 m | -15.1 m | -12.9 m | 2.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Financing cash flow | -5.0 m | 18.8 m | -3.6 m | -35.9 m | -9.4 m | -11.4 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 0 | 0 | 2.7 m | 5.9 m | 7.8 m | 0 | SEC (XBRL)· 27 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 36 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 605.1 m USD
Key indicators
Coverage and freshness
Score by group
- Valuation59
- Balance sheet100
- Quality16
- Growth0
- Returns33
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 7.59 – 8.77 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)7.59 – 8.77 (Mid 8.05)WACC 9.2% · starting FCFF 2.6 m USD · terminal value share of EV 72%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: no growth between −30% and +40% justifies the price
- Peers: EV/Salesunavailable · not enough peers
- Peers: EV/EBITDAunavailable · not enough peers
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 36/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 38.7% | 0 (on a fixed band) | 11% |
| EBIT margin · Quality | 1.1% | 50 (vs peers) | 9% |
| FCF margin · Quality | 0.4% | 2 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -5.4% | 0 (on a fixed band) | 17% |
| Revenue growth (YoY) · Growth | 0.2% | 0 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | -3.2x | 100 (on a fixed band) | 6% |
| Current ratio · Balance sheet | 3.6x | 100 (on a fixed band) | 6% |
| EV/Sales · Valuation | 1.6x | 100 (on a fixed band) | 17% |
| FCF yield · Valuation | 0.2% | 5 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 0.0% | 33 (on a fixed band) | 4% |
Score groups
- Balance sheet100/100 · 2/2 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality16/100 · 3/3 factors with a value
- Returns33/100 · 1/1 factors with a value
- Valuation59/100 · 2/2 factors with a value
Memo
Vishay Precision Group, Inc. (VPG). Latest full fiscal year: 2025; data up to 2026-10-03.
Figures computed from the financial statements: revenue 307.2 m USD in 2025; YoY growth 0.2%; net margin -1.0%; ROE -1.0%; net debt/EBITDA -3.2x.
The estimated value range is 7.59–8.77 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 8.05 USD, the price of 49.37 USD leaves a potential of -83.7% (value / price − 1) and a margin of safety of -513.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 36/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net debt / EBITDA: -3.2x
- Current ratio: 3.6x
- EV/Sales: 1.6x
What contradicts it
- Gross margin: 38.7%
- FCF margin: 0.4%
- Revenue CAGR 3Y: -5.4%
- Revenue growth (YoY): 0.2%
- FCF yield: 0.2%
- The price is above the estimated value range
Versus the vertical median
Electronic Components & Accessories (SIC 3670) · same industry (4-digit SIC) · compared with 6 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| HUBBHubbell Inc | 23.2 bn | 25.7 | 23.3% | 13.8% | +3.8% | +2% / +46% |
| MRCYMercury Systems, Inc. | 4.3 bn | — | -2.0% | -3.0% | +7.9% | +3% / +109% |
| OLEDUniversal Display Corporation | 4.0 bn | 18.2 | 13.5% | 36.7% | +0.5% | −25% / −47% |
| VPGVishay Precision Group, Inc. | 605.1 m | — | -1.0% | -1.0% | +0.2% | +38% / +56% |
| KULRKulr Technology Group, Inc. | 75.4 m | — | -97.8% | -648.0% | +50.6% | −50% / −30% |
| LNKSLinkers Industries Limited | — | — | -18.4% | -22.0% | +12.0% | −99% / unavailable |
| VSHVishay Intertechnology, Inc. | — | 41.9 | 3.8% | 2.7% | +4.5% | +89% / +16% |
1- and 3-year price returns: for VPG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
In brief
Vishay Precision Group (VPG) designs precision sensors, weighing solutions and measurement systems, often designed into customers' products. In the second quarter of fiscal 2026 revenue rose 11.7% 3 to 83.9 million USD 2, and orders reached 96 million USD 3. The company warns, however, that profitability remains under pressure from currency movements and delayed shipments.
SWOT
Strengths
- The company holds a leading position in precision resistors and foil technology, inherited from the Vishay heritage 1. Its products are designed into customers' equipment, creating long relationships 1. Its order book and book-to-bill above one support revenue visibility 3.
- The company operates a global network of manufacturing and distribution across several countries 1. Acquisitions have broadened its measurement technology range 1. Multiple brands sit under a unified VPG brand 1.
- The company has recorded record orders for applications tied to artificial intelligence, data centers and defense 3. It has also announced an accelerated growth strategy with new executive roles 1.
Weaknesses
- Profitability is fragile: net earnings fell in 2025 and turned negative in the first six months of 2026 12. Margins are sensitive to product mix and manufacturing costs 3.
- The company depends on newly implemented ERP systems, whose rollout caused shipment delays in measurement systems 3. Developing niche products requires heavy investment with no guarantee of customer adoption 1.
- The company has significant currency exposure, because it operates in several countries and reports in dollars 13. Currency swings affected results in the second quarter of 2026 3.
Opportunities
- Growth in sensors for humanoid robotics, medicine and consumer products could open new markets for advanced sensor technology 13. The company has said that if demand holds it could exceed its announced organic growth range 3.
- Acquisitions of complementary businesses, especially in force, pressure or torque measurement, could extend the portfolio 1. Delivering the cost savings program could improve margins if fully achieved 3.
- Recovering the delayed steel systems shipments, scheduled for completion by year end, could support second-half revenue 3.
Threats
- Tariffs and trade retaliation by other countries could affect costs and market access 12. Competition from China could add pressure on prices 1.
- The Middle East conflict could affect operations in Israel and supply chains 1. A shortage of qualified labor could limit production capacity 1.
- Intellectual property protection is weaker in some countries where the company manufactures, which could expose its technology to copying 1. A failed acquisition could weigh on results 1.
Risks
- Currency exposurehigh
Currency fluctuations reduced quarterly profit and could continue to weigh on margins, particularly in Europe 3.
- Shipment delays and ERPmedium
The ERP migration delayed shipments in measurement systems, and if problems persist they could affect other operations 13.
- Tariffs and refundsmedium
Uncertainty over tariff refunds and new trade measures could change costs and results 2.
- Shortage of qualified labormedium
A shortage of skilled workforce could reduce the ability to produce and meet customer demand 1.
- Acquisitions and integrationlow
Acquisitions might not deliver the anticipated benefits, and integrating acquired businesses could prove difficult 1.
Investment thesis
What would need to be true (bull case)
- If orders tied to AI and robotics convert into revenue, organic growth could exceed the range management has outlined 3.
- The cost reduction program and recovering volumes could improve margins in the second half of the year 3.
- Leadership in precision resistors and customer relationships built on design-in positions could support long-term demand 1.
What would break the thesis
- If currency fluctuations continue, profitability could stay weak even as revenue grows 3.
- The net loss in the first six months of 2026 shows that conversion into profit is not assured 2.
- Tariffs and trade measures could reduce competitiveness in some markets, especially if prices cannot be adjusted quickly 2.
What to watch
- Delivery of third-quarter revenue guidanceQ3 2026
- Shipment of delayed measurement systems orders2026
- Realization of the 6 million USD cost savings and margin trend2026
- Development of the book-to-bill ratio and AI and robotics ordersnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
The business
VPG presents itself as a global leader in precision measurement and sensing technologies that bridge the physical and digital worlds 1. Its products include foil precision resistors, strain gages, load cells and measurement systems for steel, test and industrial use. The company operates facilities in several countries, including India, China, Japan, Israel and the United States 1.
Segments
Measurement Systems
The Measurement Systems segment supplies specialized systems for steel production, materials development and safety testing, including the Nokra acquisition 1. In the second quarter of 2026 revenue reached 20.2 million USD 3. The company flagged about 3.0 million USD of delayed shipments in this line due to an ERP system migration 3.
Market context
VPG serves test and measurement, general industry, transportation, steel, avionics, defense, space, agriculture, consumer and medical markets 1. The company argues demand for sensors rises as end products integrate more measurement systems 1. In the second quarter of 2026, orders tied to artificial intelligence and data centers were recorded at record levels 3.
The US tariff framework remains uncertain: the Supreme Court invalidated some IEEPA tariffs in February 2026, and VPG recognizes refunds only on receipt 2. The company says it offsets cost changes through price adjustments, so the margin effect has so far been limited 2. Geopolitical risks in the Middle East, where the company has operations in Israel, also remain relevant 1.
Trends
- Demand for precision resistors in AI and defensetailwind
Record orders for precision resistors tied to AI semiconductors, data centers and defense could support growth in the Sensors segment 3. The company also received a vendor nomination from a humanoid robotics customer that could generate revenue in the second half of 2026 3.
- Tariffsmixed
US tariffs and retaliation by other countries could change production costs and supply chains 1. The company says it has so far passed tariff costs to customers through pricing, so the profit impact has been limited 2.
- Cost savings and restructuringmixed
The cost reduction program targets savings of about 6 million USD in 2026, part of a three-year goal of 20 million USD 3. If delivered, it could support margins, although restructuring and the ERP migration have also caused temporary delays 3.
Competitive position
The market for foil resistors and foil strain gages faces competitors, principally located in China, while semiconductor strain gages are an alternative type the company does not manufacture 1. The load cell market is highly fragmented, with numerous module and system makers, many with more experience in particular regions or applications 1.
The company relies on innovation, brands and long customer relationships to defend its position, but notes that a competitor improving quality or price could hurt results 1. In measurement systems its position is supported by acquisitions such as DSI and Nokra 1.
- Chinese foil resistor and foil strain gage producers
The source names producers principally located in China as competitors in foil resistors and foil strain gages 1.
- Semiconductor strain gage producers
These products compete with VPG's foil strain gages, although the company does not manufacture them 1.
- Numerous load cell module and system manufacturers
The load cell market is described as highly fragmented and competitive, with no single dominant player identified in the source 1.
- Measurement systems makers for steel and materials
The sources do not name specific competitors in this segment, only the general competition in the field 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Vishay Precision (VPG) Became a Winner From Industrial Recovery and the Humanoid Robotics BoomYahoo Finance — News · 15 Sept 2026 · EN
The latest news item in our archive is from 15 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report04 Nov 2026
- Current report04 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report22 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report12 May 2026
- Current report12 May 2026Results of operations · Financial statements and exhibits
- Proxy statement09 Apr 2026
- Annual report27 Feb 2026
- Current report11 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Vishay Precision Group, Inc. · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-07-04 · SEC / Vishay Precision Group, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Vishay Precision Group, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.