Nextpower vs Vicor
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KIRAβs take AI analyst
I put Nextpower and Vicor side by side, using each oneβs latest annual report. Here is what stands out:
- Nextpower is the larger business, with $3.6B of revenue in fiscal 2026 against $453M for Vicor, about 7.9 times as much.
- Vicor grew revenue faster (26.1%, against 20.3%).
- Nextpower kept more of each dollar of sales as operating profit (19.6% operating margin, against 18.1%).
- Vicor turned more of its sales into free cash flow (26.3% FCF margin, against 14.4%).
- Investors pay more for each dollar of Vicorβs earnings: a P/E of 58.7x against 19.8x for Nextpower.
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
Nextpower
NXT
2/7
Operating marginReturn on equity
Vicor
VICR
5/7
Revenue growthGross marginNet marginFCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | NXT FY26 | VICR FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.9B | $8.3B |
| Revenue | $3.6B | $453M |
| Free cash flow | $514M | $119M |
| Net income | $586M | $119M |
| Growth | ||
| Revenue growth | 20.3% | 26.1% |
| 5-year growth | β | 8.8% |
| Share count change | 2.3% | 0.6% |
| Profitability | ||
| Gross margin | 32.6% | 57.3% |
| Operating margin | 19.6% | 18.1% |
| Net margin | 16.5% | 26.2% |
| FCF margin | 14.4% | 26.3% |
| Return on capital | 54.5% | β |
| Return on equity | 29.6% | 18.5% |
| Balance sheet | ||
| Net debt | β$1.1B | β |
| Net debt / EBITDA | β1.5x | β |
| Dividends and buybacks | $0.4M | $35.2M |
| Valuation & quality | ||
| P/E | 19.8x | 58.7x |
| Piotroski F-score | 3 | β |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.