VPGVishay Precision Group, Inc.
Is the business good?
More warning than reassurance: thin cash backing (0.5×) and margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
A balanced mix of margins, efficiency, and leverage. ROE 2% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is VPG?
Vishay Precision Group, Inc. earns 3.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 5.7 points below what the capital costs: growth destroys value
- Operating margin
- 3.4%
Operating margin · Scientific & Technical Instruments median 16% · 12 months to Q2 2026
- Cash conversion
- 0.45×
Cash conversion · 3.25× a year ago · the operating profit has not turned into cash yet
- R&D as % of revenue
- 6.7%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 8.4% |
| FY2021 | 8.6% |
| FY2022 | 12% |
| FY2023 | 12% |
| FY2024 | 5.5% |
| FY2025 | 4.5% |
Details›
- Gross margin12 months to Q2 2026
- 39%
- Operating margin12 months to Q2 2026
- 3.4%
- Net margin12 months to Q2 2026
- 1.2%
- Free cash flow margin
- −2.3%
- R&D as % of revenue
- 6.7%
- Revenue, trailing twelve months
- $329M
- Free cash flow, trailing twelve months
- −$7.5M
- Net income, trailing twelve months
- $3.9M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 3.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Scientific & Technical Instruments
Ranks #9 of 12 by RyuScore