VPGVishay Precision Group, Inc.
Electronic Components & Accessories
- Revenue
- $307M
- 0.2% YoY
- Operating margin
- 4.5%
- 18% YoY
- EBITDA
- $30M
- 8.9% YoY
- Market cap
- $677M
- Employees
- 14
- $22M revenue each
- Net debt / EBITDA
- -2.0×
- −$60M net debt
- AI in 10-K
- 3.0
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersYes4 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$2M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo272% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo10% of assetsOver 40% of assets
- Shareholder dissentNo83% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$22M · 99th pctBottom quartile of its SIC industry
- Quiet on AINo3.0 per 10K words · 70th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 2.0× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedYes$677M market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $318M | $363M | $355M | $307M | $307M | 0.2% |
| Operating income | $27M | $44M | $42M | $17M | $14M | 18% |
| Net income | $20M | $36M | $26M | $10M | $5M | 47% |
| Operating cash flow | $34M | $33M | $46M | $20M | $14M | 27% |
| Capex | $17M | $21M | $15M | $9M | $8M | 12% |
| Stock-based comp | $2M | $2M | $2M | $971K | $2M | 85% |
| Buybacks | $0 | $3M | $6M | $8M | $0 | 100% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jun 12, 2020 | Nokomis Capital, L.L.C. | SC 13D/A | 9.9% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $2M | $3M | 122 | 145 |
| FY2024 | $2M | $236K | 69 | 118 |
| FY2023 | $2M | $1M | 100 | 129 |
| FY2022 | $3M | $3M | 114 | 103 |
| FY2021 | $4M | $5M | 109 | 122 |