VICR · NasdaqGS
Electronic Components · United States
Snapshot 2026-11-03 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power for use in electrically powered devices in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components that provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as sells electrical and mechanical accessories. It also designs, sells, and services custom power system solutions. It serves independent manufacturers of electronic devices, original equipment manufacturers, original design manufacturers, and their contract manufacturers in the aerospace and aviation, defense electronics, satellites, factory automation, instrumentation, test equipment, transportation, telecommunications and networking infrastructure, and vehicle markets. Vicor Corporation was incorporated in 1981 and is headquartered in Andover, Massachusetts.
Company websiteQ3 2026
Published 2026-10-20
Q3 2026 REPORT HIGHLIGHTS
Product growth, royalty recurrence and capacity investment explain why Vicor’s record quarter still demands valuation discipline.
The quarter is not solely a licensing story: product revenue reached $130.501M, up 47.1% year over year.
$66.613M of royalties represent 33.8% of revenue. Contract timing and enforceability matter more as this share rises.
The computed product gross margin reached 52.2%; consolidated gross margin was 68.3%. These are different measures.
Backlog reached $406M and management describes a much larger manufacturing footprint. Capacity intentions are not completed factories or guaranteed orders.
The $206.075 timed intraday quote exceeds both our $155 base and $165.75 weighted scenario value. Older $320 and $375 targets are not fresh endorsements of this print.
Comparable businesses
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | VICRVicor CorporationSnapshot 2026-11-03Financial period: 2026-09-30 |
|---|---|
| Market capMarket value, converted to USD | US$8.07B |
| Forward P/EProvider forward earnings estimate | 28.83x |
| EV / EBITDAEnterprise value / trailing EBITDA | 45.51x |
| Revenue growthLatest quarter vs prior-year quarter | 78.5% |
| Operating marginLatest reported quarter | 36.6% |
| Free cash flow yieldTrailing cash flow / market cap | 0.1% |
| Net debt / EBITDANet debt / trailing EBITDA | -3.04x |
| Debt / equityTotal debt / positive book equity | 0.01x |
| Trailing P/ETrailing twelve-month earnings | 49.85x |
| Price / bookPrice / positive book equity per share | 8.91x |
| EV / salesEnterprise value / trailing revenue | 13.50x |
| Earnings growthLatest quarter vs prior-year quarter | 111.1% |
| Gross marginTrailing twelve months | 60.6% |
| Net marginTrailing twelve months | 32.2% |
| Return on equityProvider trailing return; positive equity only | 23.5% |
| Free cash flow marginTrailing free cash flow / revenue | 1.0% |
| Dividend yieldIndicated annual dividend / price | — |
| Earnings payoutProvider trailing dividend payout | 0.0% |
| Current ratioCurrent assets / current liabilities | 11.44x |
| BetaProvider historical market sensitivity | 2.46 |
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
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Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Price history loads separately.
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
FREE RESEARCH PACKET · Q3 2026
Product growth, royalty recurrence and capacity investment explain why Vicor’s record quarter still demands valuation discipline.
Research published October 20, 2026 · Download original report
Read Research PacketPresentation · 2026-10-20 · YouTube
Presentation · 2026-07-21 · YouTube
Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.
