VPG vs VSH: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: VSH is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. VPG and VSH share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined VPG and VSH exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Vishay Precision Group was spun out of Vishay Intertechnology in 2010 and sells the parts other companies build their measurements on. The Sensors segment makes bulk metal foil resistors (VFR, Alpha Electronics, Powertron, APR) and precision strain gages under the Micro-Measurements brand, and produced ~$33.4 million of revenue in Q2 2026. Weighing Solutions supplies load cells, transducers and onboard vehicle weighing through VPG Transducers, BLH Nobel, Stress-Tek, Celtron and Vulcan, at ~$30.3 million. Measurement Systems is the smallest and by far the most profitable of the three at ~$20.2 million on a ~52.5% gross margin, covering KELK strip gauges for steel mills, DSI, Pacific Instruments and the DTS crash-test data recorders. End markets run from industrial and steel through test and measurement, agriculture and medical to avionics, defense and space.

Full VPG guide

Vishay Intertechnology designs and manufactures one of the industry's broadest portfolios of discrete semiconductors (diodes, MOSFETs, optoelectronics) and passive electronic components (resistors, capacitors, inductors). Its parts are designed into automotive, industrial, computing, telecom, military, aerospace, medical, and consumer electronics, where they are typically low-cost but essential building blocks. The business is deeply cyclical: demand rises and falls with the broader electronics inventory cycle, and Vishay competes on breadth, reliability, and long-standing customer design wins rather than on any single high-margin product.

Full VSH guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• VPG drivers: Record Sensors bookings on AI infrastructure; The humanoid robotics vendor nomination.
• VSH drivers: Cyclical demand recovery; Vishay 3.0 capacity expansion.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Currency is the largest single swing factor right now: a ~$3.3 million year-over-year hit to operating profit in one quarter is heavy against a company that generated ~$5.5 million of adjusted EBITDA in the same period. For VSH, vishay is highly cyclical, so a stall in the electronics recovery or renewed inventory destocking could quickly reverse the order-book strength.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick VPG if you believe its drivers more; VSH if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the VPG and VSH guides.

VPG. VPG is priced on expected earnings power rather than on trailing earnings. The trailing P/E sits near 150 and enterprise value is around 30 times EBITDA, both describing a company earning far below what its revenue base would support at more normal margins. A net cash position of roughly $60 million gives management room to keep funding capacity without leaning on the balance sheet, and no dividend is paid.

VSH. Vishay returned to profitability in Q1 2026 after a prior-year loss, so trailing earnings-based multiples are distorted by the recent trough and are best read alongside forward estimates. The stock trades around an enterprise value in the high-$2-billion range against roughly $3 billion in annual revenue. Valuation here is largely a bet on how much of the improving book-to-bill and Vishay 3.0 capacity converts into normalized margins.

Headline figures (approximate, August 2026): VPG shows revenue (ttm) ~$329 million, q2 2026 revenue ~$83.9 million, up ~12% year over year, book-to-bill (q2 2026) ~1.14 consolidated, ~1.44 in Sensors, adjusted ebitda (q2 2026) ~$5.5 million, with adjusted EPS of ~$0.04; VSH shows revenue (ttm) ~$3.1 billion, q1 2026 revenue ~$839 million (up ~17% YoY), q1 2026 gaap eps ~$0.05, q1 2026 gross margin ~21%.

VPG and VSH are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined VPG and VSH exposure against your real portfolio. It is not an investment adviser.