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Vicor Corp (VICR) stock

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NASDAQ: VICR Nasdaq Electrical Components & Equipment Next results ~January 19, 2027

B+ Fundamentals grade

Vicor Corp is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$66

Cash-flow model

Base case. Range ~$53–$83 across our lower- and higher-growth cases (7.3%–17.3% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 63% below it.

Price used: $178.03, November 3, 2026

Vicor Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 18 selling0 purchases and 981 sales by directors and officers, last 12 monthsInsider trades
  • Funds342 adding, 173 cuttingOf 61 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Vicor files

10-Q filed October 26: Vicor

Model value +35.9%

Revenue for the twelve months to September 2026 was $561m, up 27.0% on a year earlier, faster than the 11.7% growth a quarter earlier. Free-cash-flow margin fell to 9.1% from 26.6% a year earlier. Operating margin widened to 24.9% from 17.1%. The diluted share count is up 4.0% on a year earlier, which dilutes existing holders. Its fundamentals grade moves from C+ to B. Our model value rises from $48.70 to $66.16 a share, against a share price of $191. The rating stays Sell.

Source: 10-Q filed October 26, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-Q filed July 29: Vicor

Revenue for the twelve months to June 2026 was $561m, up 27.0% on a year earlier, faster than 11.7% a quarter earlier. That growth ranks 117 of 934 among all the companies we cover. Free-cash-flow margin fell to 9.1% from 26.6% a year earlier. Operating margin widened to 24.9% from 17.1%. The diluted share count is up 4.0% on a year earlier, which dilutes existing holders. Its fundamentals grade moves from C to C+. Our model value falls from $50.19 to $48.70 a share, against a share price of $176. The rating stays Sell.

10-Q on SEC EDGAR

Where Vicor stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $474m, up 11.7% on a year earlier, slower than 27.8% a quarter earlier. Free-cash-flow margin fell to 10.8% from 22.9% a year earlier. Operating margin widened to 18.6% from 14.1%. The diluted share count is up 2.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $34.78 a share, against a share price of $200.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 19, 2027 (estimated)

Vicor Corp's trailing-twelve-month revenue grew 27.0% year on year, with a free-cash-flow margin of 9.1%. Where it stands out: gross margin of 60.6% ranks 1 of 54 electrical components & equipment companies we cover.

Our discounted-cash-flow model values the business at ~$66 per share in the base case (~$53–$83 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 56.7% while net income grew 119.1%: a 176pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 27.0% over the last 12 months, against a median of 10.6% for electrical components & equipment companies we cover.
  • Growth speeding up. The growth rate is 15.3 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 7.8 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.5bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $174.97 is 62% above our value per share of $66.
  • Share dilution. Diluted shares rose 4.0% in a year.
  • High earnings multiple. The shares trade at 46 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 96% and a beta of 3.9 against the S&P 500.
  • Insiders selling. 18 insiders sold $412M of stock over the past 365 days and none bought (90% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was 28% of net income over the last 12 months.

Latest results: FY2026 Q3

Filed October 26, 2026
Earnings per share
$1.33 against an average estimate of $1.24: beat by 7.3%
Revenue
$197m, up 78.5% on a year earlier
Share reaction
+11.9% in the first session after the results on October 20, 2026, against +0.9% for the S&P 500
Next report
October 20, 2026; average EPS estimate $1.23

Vicor's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.7%
  • 1 week-16.0%
  • 1 month-42.4%
  • This year+59.6%
  • 1 year+90.7%
  • 5 years+14.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$561M
Operating margin
24.9%
Net margin
32.2%
EPS (TTM, diluted)
$3.82

Growth

Revenue growth
+27.0%
Change in growth rate
+15.3 pts
Share count change
+4.0%

Cash

Free cash flow (TTM)
$50.8M
FCF margin
9.1%
Stock pay % of revenue
3.2%

Earnings

Last results
October 20, 2026
Next results (est.)
January 19, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Insider trade
  4. Insider trade
  5. Governance
  6. Announcement
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Vicor Corp valuation models and calculator

What the price is pricing in

The share price implies about 40.0% a year of cash-flow growth for five years.That is faster than the 9.3% a year revenue growth Vicor has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in40.0%
  • Last 12 months27.0%
  • 3 years a year10.3%
  • 5 years a year9.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($177.48, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$66
Price used
$177.48close November 3, 2026
Implied change
▼ 63%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Vicor Corp's free cash flow after stock-based pay with after-tax interest added back ($63M, FY2026 Q3 TTM), growing 38% and 20.6% in the next two years (forecasts, guidance and its record), then back to 12.3% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$53–~$83 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Vicor Corp's free cash flow after stock-based pay ( $63M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Vicor Corp as an operating company, with every model that fits that kind of business. Cost of equity 12.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.76 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$66 ~$53–$83 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$68 ~$46–$87 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$85–$140 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$15 ~$11–$22 Left out: out of range vs price (0.09x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$15 ~$14–$17 Left out: out of range vs price (0.09x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$77 ~$66–$110 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Vicor Corp with Electrical Components & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −19%
  • Revenue growth 5 points higher ▲ +25%
  • Free-cash-flow margin 1 point lower ▼ −9%
  • Last year's free-cash-flow margin change, if it persists ▼ −61%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $30$37$46$58$73$93
8.5% $25$30$37$45$56$71
10% $23$27$32$38$46$57

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$9.12$15.10$20.90$37.79$46.72$92.22$126.98$53.75$44.94$48.32$109.60$174.97
Market value$357m$587m$835m$1.5bn$1.9bn$4.0bn$5.7bn$2.4bn$2.0bn$2.2bn$5.0bn$8.3bn
+ Net debt (− = net cash)−$63m−$56m−$44m−$71m−$85m−$162m−$182m−$191m−$242m−$277m−$403m−$513m
Enterprise value$294m$530m$790m$1.5bn$1.9bn$3.9bn$5.5bn$2.2bn$1.8bn$1.9bn$4.6bn$7.7bn
Multiples
Price / sales 1.6x2.9x3.7x5.3x7.4x13.6x15.9x6.0x5.0x6.1x11.0x14.7x
Price / earnings 72.5x—n/m48.5x138.1xn/m100.8x94.8x37.7xn/m42.0x45.8x
Price / free cash flow 150.2x——85.7xn/mn/mn/m—49.2x80.1x41.8x162.5x
EV / EBITDA 33.1xn/m104.9x35.5x77.1x136.6x82.1x54.2x26.0x110.0x44.6x48.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

60 /100

Moderate moat

How hard Vicor's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 18.9% of total assets over 10 years.

  • Pricing power 13 / 20

    Gross margin has been a median 48.6%, moving by 5.2 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 8.3%; its worst year was -2.0%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 10 years, at a median 3.7% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 4.1% over five years; stock-based pay has been a median 2.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.21 +41% $642m +42%
Next $6.07 +44% $943m +47%

Next year's EPS estimate has moved +9.3% in 90 days, across 3 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +20.6% on 90 days ago. In the last 30 days, 3 analysts raised Vicor Corp's forecast and 0 cut it.

Consensus EPS forecast Vicor Corp, last 90 days
$3.00 $4.00 $5.00 $6.00 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.49 Current fiscal year, 60 days ago: $3.49 Current fiscal year, 30 days ago: $3.49 Current fiscal year, 7 days ago: $4.12 Current fiscal year, Now: $4.21 $4.21 Next fiscal year, 90 days ago: $5.55 Next fiscal year, 60 days ago: $5.55 Next fiscal year, 30 days ago: $5.55 Next fiscal year, 7 days ago: $6.12 Next fiscal year, Now: $6.07 $6.07

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.49$5.55
60 days ago $3.49$5.55
30 days ago $3.49$5.55
7 days ago $4.12$6.12
Now $4.21$6.07

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.24 $1.33 +7.3%
Jun 2026 $0.66 $1.13 +72.2%
Mar 2026 $0.41 $0.52 +26.5%
Dec 2025 $0.48 $1.10 +130.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 20, 2026

No numeric guidance in Vicor Corp's latest earnings release (filed October 20, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Vicor Corp's revenue by +38.0% next year and +20.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+55.1%, weight 60%) and the company's own record (+12.3%, weight 40%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy4100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026224
  2. Sep 2026224
  3. Aug 2026224

Counts of recommendations published by analysts covering Vicor Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.8%
of tradable shares
Days to cover
2.19
at average volume
Short interest, 1 month
+11%
to October 15, 2026
Held by institutions
71%
of shares
Held by insiders
25.1%
of shares
Employees
1,092
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +92.8%

$90.73 on October 31, 2025 to $174.97

ThenNowEffect
Revenue (last 12 months) $424m $474m +11.7%
Net margin 15.4% 30.6% +98.4%
P/E multiple 63.0x 56.1x −10.9%
Share count 45m 47m −2.3%

Biggest factor: net margin.

Last 3 years +346.7%

$39.17 on November 3, 2023 to $174.97

ThenNowEffect
Revenue (last 12 months) $413m $474m +14.7%
Net margin 9.2% 30.6% +231.5%
P/E multiple 46.0x 56.1x +21.8%
Share count 45m 47m −3.6%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VICR+38%−58%−16%+8%+127%+60%
Industry peers (median)−6%−30%−18%−8%+11%−36%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VICR58%25%33%50%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VICR−30%−65%−62%−33%−39%−54%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 81% from November 17, 2021 to May 1, 2024. Getting back needed a 412% gain, reached on January 22, 2026, 631 days after the low.

Price behaviour

52-week range
$83.28 – $379.78
From 52-week high
−53.9%
vs 50-day average
−21.9%
vs 200-day average
−23.1%
Volatility (1 year)
96%
Beta vs S&P 500
3.89

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±16.1%
After a week
7 up, 5 down
typical move ±17.6%
After a month
7 up, 4 down
typical move ±12.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 20, 2026 +11.9% +0.9% +11.2% —
July 21, 2026 −5.9% +0.7% −16.8% −5.9%
April 21, 2026 +17.9% +0.4% +10.6% +17.5%
February 19, 2026 +9.3% +0.5% +32.2% +5.7%
October 21, 2025 +47.8% −0.5% +54.5% +46.6%
July 22, 2025 +10.2% +0.9% −4.4% −2.7%
April 29, 2025 −22.5% +0.7% −19.7% −17.0%
February 20, 2025 +25.9% −2.1% +21.9% +6.0%
October 22, 2024 +10.5% −1.0% +5.3% +20.6%
July 23, 2024 +1.4% −2.4% +8.7% +2.3%
April 23, 2024 −7.5% +1.1% −6.4% +0.8%
February 22, 2024 −22.4% +2.1% −19.0% −17.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Vicor Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look cheap

Option prices imply less movement than the shares have recently shown. Selling options pays little for the risk taken.

  • Implied is 0.85× the last 60 days’ realised volatility , richer than 6% of the 229 stocks we screen today.
  • Calls are priced 5 points richer than puts (25-delta): demand for upside is high, which favours selling calls over puts.
  • Why: implied is below 60-day realised: selling options pays little for the risk taken.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

VICR Vicor Corp Grade B+ $179.04

Own 100 shares, sell the $220 call expiring December 18, 2026 (46 days) for $8.00 a share — $800 per contract.

Previous session · Bid $8.00, ask $9.50, quoted Mon 2 Nov, 17:39 New York time with VICR at $179.04. Option prices move with the shares: check the live chain at your broker before trading.

  • If VICR ends below $220: you keep your shares and the $800 — 4.5% extra on the position, 35.5% a year at that pace.
  • If it ends above $220: your shares are sold at $220, a total return of 27.3% including the premium — at or above our value of ~$66.
$4.9k $0 −$3.4k Break-even $171.04 Price $179.04 ← Our value ~$66
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$800
Annualised
35.5%
Break-even
$171.04
Max gain
$4,896
Chance of selling
~32%

Collar

Own the shares, buy the $165 put and sell the $220 call, both expiring December 18, 2026 (46 days).

  • Net cost of $9.60 a share ($960 per contract of 100 shares).
  • Worst case at expiry: -13.2%, if the shares fall below $165 (-7.8% from today).
  • Best case at expiry: +17.5%, if the shares rise above $220 (+22.9%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $66.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Vicor Corp in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Vicor Corp
$300M $400M $500M $600M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $405.1M Revenue (TTM), FY24 Q1: $391.1M Revenue (TTM), FY24 Q2: $370.2M Revenue (TTM), FY24 Q3: $355.5M Revenue (TTM), FY24 Q4: $359.1M Revenue (TTM), FY25 Q1: $369.2M Revenue (TTM), FY25 Q2: $424.3M Revenue (TTM), FY25 Q3: $441.6M Revenue (TTM), FY25 Q4: $452.7M Revenue (TTM), FY26 Q1: $471.7M Revenue (TTM), FY26 Q2: $474M Revenue (TTM), FY26 Q3: $560.7M $560.7M

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $405.1M
FY24 Q1 $391.1M
FY24 Q2 $370.2M
FY24 Q3 $355.5M
FY24 Q4 $359.1M
FY25 Q1 $369.2M
FY25 Q2 $424.3M
FY25 Q3 $441.6M
FY25 Q4 $452.7M
FY26 Q1 $471.7M
FY26 Q2 $474M
FY26 Q3 $560.7M
Revenue growth, TTM YoY Vicor Corp
-20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 1.5% Revenue growth, TTM YoY, FY24 Q1: -4.3% Revenue growth, TTM YoY, FY24 Q2: -10.4% Revenue growth, TTM YoY, FY24 Q3: -14.9% Revenue growth, TTM YoY, FY24 Q4: -11.4% Revenue growth, TTM YoY, FY25 Q1: -5.6% Revenue growth, TTM YoY, FY25 Q2: 14.6% Revenue growth, TTM YoY, FY25 Q3: 24.2% Revenue growth, TTM YoY, FY25 Q4: 26.1% Revenue growth, TTM YoY, FY26 Q1: 27.8% Revenue growth, TTM YoY, FY26 Q2: 11.7% Revenue growth, TTM YoY, FY26 Q3: 27.0% 27.0%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 1.5%
FY24 Q1 -4.3%
FY24 Q2 -10.4%
FY24 Q3 -14.9%
FY24 Q4 -11.4%
FY25 Q1 -5.6%
FY25 Q2 14.6%
FY25 Q3 24.2%
FY25 Q4 26.1%
FY26 Q1 27.8%
FY26 Q2 11.7%
FY26 Q3 27.0%
Operating margin (TTM) Vicor Corp
-10% 0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 12.7% Operating margin (TTM), FY24 Q1: 6.3% Operating margin (TTM), FY24 Q2: 1.9% Operating margin (TTM), FY24 Q3: -0.9% Operating margin (TTM), FY24 Q4: -0.4% Operating margin (TTM), FY25 Q1: 4.0% Operating margin (TTM), FY25 Q2: 14.1% Operating margin (TTM), FY25 Q3: 17.1% Operating margin (TTM), FY25 Q4: 18.1% Operating margin (TTM), FY26 Q1: 21.0% Operating margin (TTM), FY26 Q2: 18.6% Operating margin (TTM), FY26 Q3: 24.9% 24.9%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 12.7%
FY24 Q1 6.3%
FY24 Q2 1.9%
FY24 Q3 -0.9%
FY24 Q4 -0.4%
FY25 Q1 4.0%
FY25 Q2 14.1%
FY25 Q3 17.1%
FY25 Q4 18.1%
FY26 Q1 21.0%
FY26 Q2 18.6%
FY26 Q3 24.9%
FCF margin (TTM) Vicor Corp
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 10.1% FCF margin (TTM), FY24 Q1: 9.3% FCF margin (TTM), FY24 Q2: 9.5% FCF margin (TTM), FY24 Q3: 9.3% FCF margin (TTM), FY24 Q4: 7.6% FCF margin (TTM), FY25 Q1: 12.9% FCF margin (TTM), FY25 Q2: 22.9% FCF margin (TTM), FY25 Q3: 26.6% FCF margin (TTM), FY25 Q4: 26.3% FCF margin (TTM), FY26 Q1: 18.5% FCF margin (TTM), FY26 Q2: 10.8% FCF margin (TTM), FY26 Q3: 9.1% 9.1%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 10.1%
FY24 Q1 9.3%
FY24 Q2 9.5%
FY24 Q3 9.3%
FY24 Q4 7.6%
FY25 Q1 12.9%
FY25 Q2 22.9%
FY25 Q3 26.6%
FY25 Q4 26.3%
FY26 Q1 18.5%
FY26 Q2 10.8%
FY26 Q3 9.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Vicor took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $453M
  2. Other income $36.7M · 8.1%
  3. Cost of revenue $193M · 42.7%
  4. Gross profit $259M · 57.3%
  5. Research and development $78.6M · 17.4%
  6. Selling, general and admin $99M · 21.9%
  7. Operating income $81.8M · 18.1%
  8. Net income $119M · 26.2%

Shares of revenue. Source: Vicor's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 198 251 253 219 199 226 220 200 228 291 263 297 359 399 405 359 453 561
Gross profit 88 115 107 92 81 97 100 91 102 139 123 131 178 181 205 184 259 340
EBITDA 15 39 25 8 −10 −5 9 2 8 41 24 28 67 41 69 17 103 161
Operating income 5 29 14 −3 −20 −15 −0 −6 −1 32 14 17 56 27 51 −1 82 140
Net income 3 33 9 −4 −24 −14 5 −6 0 32 14 18 57 25 54 6 119 180
Diluted EPS $0.07 $0.80 $0.21 −$0.10 −$0.60 −$0.36 $0.13 −$0.16 $0.00 $0.78 $0.34 $0.41 $1.26 $0.57 $1.19 $0.14 $2.61 $3.82
Growth (year on year)
Revenue — +26.7% +0.9% −13.6% −8.9% +13.3% −2.5% −9.0% +13.8% +27.8% −9.7% +12.8% +21.2% +11.1% +1.5% −11.4% +26.1% +27.0%
EBITDA — +162.8% −37.2% −69.1% −236.9% — — −76.1% — +448.4% −41.5% +17.7% +136.8% −39.1% +67.4% −74.8% +492.6% +68.5%
Operating income — +510.1% −53.0% −120.3% — — — — — — −56.9% +25.7% +220.1% −51.1% +88.8% −102.6% — +85.3%
Net income — — −73.5% −146.1% — — — −226.8% — — −55.6% +27.0% +216.2% −55.1% +110.6% −88.6% — +119.1%
Diluted EPS — — −73.8% −147.6% — — — −223.1% — — −56.4% +20.6% +207.3% −54.8% +108.8% −88.2% — +110.7%
Margins
Gross margin 44.2% 45.7% 42.2% 41.9% 40.9% 43.0% 45.2% 45.5% 44.6% 47.7% 46.8% 44.3% 49.6% 45.2% 50.6% 51.2% 57.3% 60.6%
EBITDA margin 7.6% 15.7% 9.8% 3.5% −5.3% −2.2% 4.0% 1.1% 3.3% 14.2% 9.2% 9.6% 18.7% 10.3% 16.9% 4.8% 22.7% 28.7%
Operating margin 2.4% 11.6% 5.4% −1.3% −10.3% −6.5% −0.1% −3.2% −0.6% 11.0% 5.3% 5.9% 15.5% 6.8% 12.7% −0.4% 18.1% 24.9%
Net margin 1.4% 13.3% 3.5% −1.9% −11.9% −6.2% 2.2% −3.1% 0.1% 10.9% 5.4% 6.0% 15.8% 6.4% 13.2% 1.7% 26.2% 32.2%
Free-cash-flow margin 7.2% 1.9% 7.5% 4.5% −5.5% −2.2% 1.1% −3.9% −6.6% 6.2% 3.7% 2.1% 1.9% −10.3% 10.1% 7.6% 26.3% 9.1%
Cash flow
Cash from operations 25 17 26 17 −5 2 11 1 −2 36 22 35 54 23 75 51 140 96
Capital spending 11 12 7 7 6 7 9 8 13 18 12 29 48 64 33 24 20 45
Free cash flow 14 5 19 10 −11 −5 2 −8 −15 18 10 6 7 −41 41 27 119 51
Stock-based pay 1 1 2 1 2 2 2 1 2 3 3 6 7 10 13 15 17 18
Free cash flow after stock pay 13 4 17 9 −13 −7 1 −8 −17 15 7 0 −0 −51 28 12 102 33
Balance sheet
Cash 40 49 72 85 56 55 63 56 44 71 85 162 182 191 242 277 403 513
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −40 −49 −72 −85 −56 −55 −63 −56 −44 −71 −85 −162 −182 −191 −242 −277 −403 −513
Diluted shares 42m 42m 42m 42m 39m 39m 39m 39m 40m 41m 42m 44m 45m 45m 45m 45m 45m 47m
Returned to shareholders
Dividends — 13 6 — — — — — — — — — — — — — — —
Buybacks — — — — 17 — — — — — — — — 0 0 0 35 —
Total returned — 13 6 — 17 — — — — — — — — 0 0 0 35 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $982m
Short-term assets $760mLonger-term assets $221m
What it owes, and who funded it · $981m
Short-term liabilities $66mLonger-term liabilities $9mShareholders' equity $906m
  • Short-term assets cover short-term liabilities $760m of assets due within a year against $66m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $760m short-term assets against $9m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Vicor Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$35.7M
Diluted share count
+4.0%
year over year
R&D spending
15.6%
of revenue
Sales & admin spending
20.1%
of revenue
Days sales outstanding
80 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electrical components & equipment
Last 12 months unless stated VICR ALNT SHLS APWC LYTS CHPT Median
Revenue, last 12 months $561m $575m $588m $490m $689m $433m $154m
Revenue growth, last 12 months 27.0% 10.6% 46.9% 3.6% 20.2% 8.8% 10.6%
Revenue growth, 3-year average 10.3% 1.0% 12.8% — 11.5% −8.2% 9.2%
Revenue growth, latest quarter 78.5% 10.2% 47.4% — 51.3% 17.7% 10.2%
Gross margin 60.6% 33.3% 31.9% 7.0% 25.1% 32.1% 29.3%
Operating margin 24.9% 8.4% 10.6% 1.3% 5.6% −41.2% −17.7%
Operating margin, 3-year average 13.7% 7.1% 10.8% 1.4% 6.5% −61.9% −32.6%
Net margin 32.2% 5.0% 5.4% 0.7% 3.3% −40.6% −23.4%
Cash from operations / revenue 17.1% 6.7% −3.3% −1.6% 6.4% −14.9% −6.5%
Free-cash-flow margin 9.1% 4.8% −8.8% −2.3% 5.7% −15.8% −11.0%
Free-cash-flow margin, 3-year average 15.0% 7.2% 5.0% −5.9% 6.6% −32.2% −6.8%
Stock pay / revenue 3.2% 0.6% 2.1% — 0.6% 11.6% 2.5%
Change in share count 4.0% 1.0% 1.2% 0.0% 9.3% 5.0% 10.0%

Median of all 57 companies we cover in electrical components & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 electrical components & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 27.0% 10.6% 19 of 57
Change in growth rate Growth +15.3pp +0.0pp 9 of 57
Gross margin Profitability 60.6% 29.3% 1 of 54
Operating margin Profitability 24.9% -20.0% 3 of 53
Net margin Profitability 32.2% -23.4% 2 of 57
Free-cash-flow margin Cash generation 9.1% -8.8% 13 of 56
Stock pay as % of revenue Cash generation 3.2% 2.8% 29 of 50
Change in share count Balance sheet 4.0% 10.0% 21 of 46
Days sales outstanding Balance sheet 80 days 72 days 30 of 50

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Advancedproducts $249M ▲ 26.0%
Brickproducts $159M ▼ 1.6%

These categories overlap or exclude eliminations, so shares aren't shown.

Products and services
Line of business Revenue YoY
Products $350M ▲ 12.1%
Direct Customers Contract Manufacturers and Non Stocking Distributors $235M ▲ 16.4%
Stocking Distributors Net of Sales Allowances $109M ▲ 5.3%
Royalty $57.4M ▲ 23.2%
Royalties $57.4M ▲ 23.2%
Non Recurring Engineering $5.5M ▼ 3.5%
Other $1M ▼ 29.2%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue YoY
United States $201M ▲ 8.0%
Country Us $201M ▲ 8.0%
Asia Pacific $162M ▲ 25.0%
Europe $42.9M ▲ 2.5%
All Other Countries $1.8M ▲ 24.2%

These categories overlap or exclude eliminations, so shares aren't shown.

From Vicor Corp's 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$8.3B
Institutions reporting
511
Shares held vs prior quarter
▲ 4.3%
Positions opened / closed
182 / 42

Top buyers and sellers, Q2 2026: 342 institutions bought and 173 sold ; the biggest buyer was Price T Rowe Associates Inc (+480K shares) and the biggest seller Blackrock, Inc (−423K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $935M 2.5M 11.3% ▼ 14.7%
Price T Rowe Associates Inc $899M 2.4M 10.9% ▲ 25.4%
Jpmorgan Chase & Co $870M 2.4M 10.5% ▲ 12.5%
Vanguard Portfolio Management LLC $486M 1.3M 5.9% ▲ 10.2%
Vanguard Capital Management LLC $426M 1.1M 5.1% ▲ 8.3%
State Street Corp $276M 726K 3.3% ▼ 10.5%
Geode Capital Management, LLC $223M 587K 2.7% ▼ 2.5%
Jane Street Group, LLC $205M 539K 2.5% ▲ 64.5%
Manufacturers Life Insurance Company, The $202M 531K 2.4% ▼ 12.0%
Arrowstreet Capital, Limited Partnership $202M 531K 2.4% ▼ 1.0%
Needham Investment Management LLC $199M 524K 2.4% ▲ 0.4%
Driehaus Capital Management LLC $189M 497K 2.3% ▲ 162.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Vicor Corp's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $412M 981 trades by 18 insiders · 90% under pre-set plans
Net ▼ $412M net selling
Insider Date Trade Shares Price Value
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 1,312 $313.32 $411,075
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 2,648 $312.29 $826,939
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 2,679 $311.42 $834,305
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 6,448 $310.32 $2M
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 877 $309.10 $271,079
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 4,961 $308.01 $1.5M
Vinciarelli Patrizio Chairman & CEO October 2, 2026 Sell pre-set plan 1,075 $306.93 $329,945
Vinciarelli Patrizio Chairman & CEO October 1, 2026 Sell pre-set plan 900 $330.00 $297,000
Vinciarelli Patrizio Chairman & CEO October 1, 2026 Sell pre-set plan 100 $324.98 $32,498
Vinciarelli Patrizio Chairman & CEO October 1, 2026 Sell pre-set plan 600 $323.37 $194,023
Vinciarelli Patrizio Chairman & CEO October 1, 2026 Sell pre-set plan 900 $322.40 $290,157
Vinciarelli Patrizio Chairman & CEO October 1, 2026 Sell pre-set plan 1,100 $321.57 $353,724

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Vicor Corp disclosed in the last 12 months; 2 earlier trades on record.

  • Jefferson Shreve(R-IN 6):Sale (full), $15,001 - $50,000, traded March 31, 2025, filed April 11, 2025
  • Jefferson Shreve(R-IN 6):Purchase, $15,001 - $50,000, traded March 5, 2025, filed April 11, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 19, 2027 estimated from the company's past filing pattern, not announced

  • October 20, 2026
  • July 21, 2026
  • April 21, 2026
  • February 19, 2026
  • October 21, 2025
  • July 22, 2025

Recent SEC filings

Data status

When each part of this page on Vicor Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Vicor Corp in brief

What does Vicor Corp do?
Vicor Corp is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.
What is Vicor Corp's stock ticker?
Vicor Corp trades under the ticker VICR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Vicor Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Vicor Corp reported revenue of $561M, 27.0% higher than a year earlier, according to its SEC filings.
What is Vicor Corp's free cash flow?
Vicor Corp's free-cash-flow margin is 9.1% of revenue over the trailing twelve months, ranking 13 of the 56 electrical components & equipment companies we cover.
What is Vicor Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Vicor Corp's free cash flow after stock-based pay gives ~$66 per share in the base case, and ~$53–$83 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Vicor Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Price T Rowe Associates Inc and Jpmorgan Chase & Co. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Vicor Corp's market cap?
On November 2, 2026, Vicor Corp's market capitalisation was about $8.3B, with a price-to-earnings ratio of 45.8 and net debt of -$513M. Market figures come from third-party market data and may be delayed.
Who are Vicor Corp's competitors?
In our Electrical Components & Equipment peer group, the companies closest to Vicor Corp are Allient Inc, Shoals Technologies Group, Inc., Asia Pacific Wire & Cable Corp LTD, LSI Industries Inc and Chargepoint Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Vicor Corp's.
Are insiders buying or selling Vicor Corp stock?
Over the last 12 months, Vicor Corp's directors and officers reported 0 open-market purchases and 981 sales on Form 4. The insider trading page charts every trade.
When is Vicor Corp's next earnings date?
Around January 19, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Vicor Corp announces its own schedule.