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Vicor

VICR Nasdaq Electrical Components & Equipment Financials FY2016–FY2025

Vicor's revenue rose 26.1% to $453 million in fiscal 2025. Its operating margin was 18.1%, up from −0.4% a year earlier. Free cash flow was $119 million, up 337.7%. It paid out $35 million in dividends and buybacks, 30% of free cash flow. The diluted share count rose 0.6%.

Last close · Oct 23, 2026

$176.04

2.2%
Value it Compare
Revenue Total sales reported in the income statement.
$453M
26.1% vs prior year
Operating margin Operating income as a share of revenue.
18.1%
18.4 pts
Net income Profit after all expenses, interest and tax.
$119M
1,844.3%
Free cash flow Cash from operations minus capital spending.
$119M
337.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$8.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
58.7x
On $3.00 EPS (TTM)

What Vicor does

No business description yet.

Legal name
VICOR CORPORATION
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-085102
0000751978

Revenue and margins

Vicor had $453M of revenue in fiscal 2025, up 26.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $119M in fiscal 2025, 26.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Vicor returned $35.2M to shareholders in fiscal 2025, 30% of free cash flow. The diluted share count rose 0.6%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Vicor yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 45.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 58.7x · peers 50.5x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Vicor can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $228M$191M$242M$277M$403M
Current ratio 7.3x5.6x9.5x7.5x9.0x
Quick ratio 5.9x4.1x7.1x5.8x7.6x
Total assets $477M$537M$595M$641M$786M
Total liabilities $53.3M$72.6M$53.8M$70.8M$74.0M
Shareholders' equity $424M$464M$541M$570M$712M
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$31.6M

4 insiders

Of sales under plans

97%

$30.6M

DateInsiderTradeSharesPriceValueFiling
Sep 1, 2026 Philip D DaviesCorp. VP-Global Sales & Mktg., Director Sold plan 3,073 $177.70 $0.5M Form 4
Aug 17, 2026 Samuel J AndersonDirector Sold 2,073 $252.60 $0.5M Form 4
Aug 17, 2026 Zmira LavieDirector Sold 908 $250.00 $0.2M Form 4
Aug 3, 2026 Philip D DaviesCorp. VP-Global Sales & Mktg., Director Sold plan 3,072 $211.69 $0.7M Form 4
Jul 23, 2026 Zmira LavieDirector Sold 1,216 $224.72 $0.3M Form 4
Jul 6, 2026 Patrizio VinciarelliChairman & CEO, Director, 10% owner Sold plan 700 $302.41 $0.2M Form 4
Jul 2, 2026 Patrizio VinciarelliChairman & CEO, Director, 10% owner Sold plan 20,000 $318.88 $6.4M Form 4
Jul 1, 2026 Patrizio VinciarelliChairman & CEO, Director, 10% owner Sold plan 20,000 $356.68 $7.1M Form 4
Jul 1, 2026 Philip D DaviesCorp. VP-Global Sales & Mktg., Director Sold plan 3,073 $356.97 $1.1M Form 4
Jun 30, 2026 Patrizio VinciarelliChairman & CEO, Director, 10% owner Sold plan 20,000 $375.04 $7.5M Form 4
Jun 29, 2026 Patrizio VinciarelliChairman & CEO, Director, 10% owner Sold plan 11,240 $345.04 $3.9M Form 4
Jun 29, 2026 Patrizio VinciarelliChairman & CEO, Director, 10% owner Sold plan 8,760 $366.98 $3.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets — — —
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✓
F-score — / 9— / 9— / 9
Accruals ratio −3.7%−7.2%−2.9%
Altman Z'' 16.9214.0916.90

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Vicor VICR $8.3B 26.1% 18.1% 26.3% — 58.7x —
Bloom Energy BE $62.7B 37.3% 3.6% 2.8% 5.8% 117.9x 5 Compare →
Nextpower NXT $12.2B 20.3% 19.6% 14.4% 54.5% 20.4x 3 Compare →
Woodward WWD $18.5B 7.3% — 9.5% 16.8% 33.8x 8 Compare →
Sensata Technologies ST $5.9B −5.8% 6.4% 13.2% 2.2% 67.3x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $200M $228M $291M $263M $297M $359M $399M $405M $359M $453M
Gross profit $91.2M $102M $139M $123M $131M $178M $181M $205M $184M $259M
Research and development $41.8M $44.9M $44.3M $46.6M $50.9M $53.1M $60.6M $67.9M $68.9M $78.6M
Operating income −$6.3M −$1.4M $32.1M $13.8M $17.4M $55.6M $27.2M $51.4M −$1.3M $81.8M
Pretax income −$6.0M −$0.1M $32.9M $14.9M $18.5M $56.8M $28.7M $60.2M $10.5M $94.6M
Income tax $0.2M −$0.4M $1.1M $0.8M $0.5M $0.2M $3.3M $6.6M $4.3M −$24.0M
Net income −$6.2M $0.2M $31.7M $14.1M $17.9M $56.6M $25.4M $53.6M $6.1M $119M
Diluted EPS −$0.16 $0.00 $0.78 $0.34 $0.41 $1.26 $0.57 $1.19 $0.14 $2.61
Diluted shares 0.04B 0.04B 0.04B 0.04B 0.04B 0.05B 0.04B 0.05B 0.05B 0.05B
Cash flow
Cash from operations $0.5M −$2.5M $36.2M $22.2M $34.7M $54.4M $22.9M $74.5M $50.8M $140M
Capital expenditure $8.4M $12.5M $18.2M $12.5M $28.7M $47.8M $64.0M $33.5M $23.6M $20.3M
Free cash flow −$7.9M −$15.0M $18.0M $9.7M $6.1M $6.7M −$41.0M $41.1M $27.2M $119M
Depreciation and amortization $8.4M $8.9M $9.3M $10.3M $11.1M $11.7M $13.8M $17.2M $18.6M $20.8M
Stock-based compensation $0.5M $1.7M $3.4M $3.0M $5.9M $7.0M $10.3M $12.9M $15.3M $16.8M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.5M $35.2M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.5M $35.2M
Balance sheet
Cash and short-term investments $56.2M $44.2M $70.6M $84.7M $212M $228M $191M $242M $277M $403M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $112M $119M $165M $179M $317M $357M $363M $420M $463M $587M
Current liabilities $22.2M $28.0M $36.0M $29.9M $40.5M $49.1M $64.5M $44.2M $61.8M $65.3M
Inventory $27.1M $36.5M $47.4M $49.2M $57.3M $67.3M $101M $107M $106M $91.3M
Property and equipment, net $37.6M $41.4M $50.4M $57.0M $74.8M $116M $166M $158M $153M $148M
Total assets $154M $166M $221M $241M $396M $477M $537M $595M $641M $786M
Total liabilities $23.1M $29.3M $37.0M $34.9M $45.1M $53.3M $72.6M $53.8M $70.8M $74.0M
Shareholders' equity $131M $136M $184M $206M $351M $424M $464M $541M $570M $712M
Margins
Gross margin 45.5% 44.6% 47.7% 46.8% 44.3% 49.6% 45.2% 50.6% 51.2% 57.3%
Operating margin −3.2% −0.6% 11.0% 5.3% 5.9% 15.5% 6.8% 12.7% −0.4% 18.1%
EBITDA margin 1.1% 3.3% 14.2% 9.2% 9.6% 18.7% 10.3% 16.9% 4.8% 22.7%
Net margin −3.1% 0.1% 10.9% 5.4% 6.0% 15.8% 6.4% 13.2% 1.7% 26.2%
FCF margin −3.9% −6.6% 6.2% 3.7% 2.1% 1.9% −10.3% 10.1% 7.6% 26.3%
Returns
Return on capital employed −4.7% −1.0% 19.9% 7.0% 6.1% 14.2% 6.0% 10.0% −0.2% 12.6%
Return on equity −4.7% 0.1% 19.8% 7.2% 6.4% 14.6% 5.7% 10.7% 1.1% 18.5%
Return on assets −4.0% 0.1% 16.4% 6.1% 5.6% 13.0% 5.0% 9.5% 1.0% 16.6%
Growth
Revenue growth −9.0% 13.8% 27.8% −9.7% 12.8% 21.2% 11.1% 1.5% −11.4% 26.1%
Net income growth −226.8% — 18,897.0% −55.6% 27.0% 216.2% −55.1% 110.6% −88.6% 1,834.3%
EPS growth −223.1% — — −56.4% 20.6% 207.3% −54.8% 108.8% −88.2% 1,764.3%
FCF growth −431.7% — — −45.9% −37.4% 9.8% −713.9% — −33.7% 337.7%
Share count change −0.8% 2.8% 2.0% 2.3% 5.3% 2.5% −0.2% 0.3% 0.4% 0.6%
Financial health
Current ratio 5.0x 4.2x 4.6x 6.0x 7.8x 7.3x 5.6x 9.5x 7.5x 9.0x
Quick ratio 3.8x 2.9x 3.3x 4.3x 6.4x 5.9x 4.1x 7.1x 5.8x 7.6x
Capital allocation
Capex / revenue 4.2% 5.5% 6.3% 4.8% 9.7% 13.3% 16.0% 8.3% 6.6% 4.5%
Stock comp / revenue 0.3% 0.8% 1.2% 1.2% 2.0% 2.0% 2.6% 3.2% 4.3% 3.7%
Payouts / FCF — — 0.0% 0.0% 0.0% 0.0% — 0.0% 1.8% 29.5%
Quality scores
Altman Z'' 11.5 10.3 11.9 12.6 14.4 14.9 12.2 16.9 14.1 16.9
Accruals ratio −4.4% 1.7% −2.3% −3.5% −5.3% 0.5% 0.5% −3.7% −7.2% −2.9%

Source: SEC EDGAR XBRL filings (CIK 0000751978). Data updated October 18, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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