# Vicor Corporation (VICR)

> Source: Nexqual · https://nexqual.com/VICR · data as of 2026-10-23 13:32 UTC · cite as "Nexqual, Vicor Corporation (VICR), nexqual.com/VICR" · informational, not investment advice.

**Price:** USD 175.93 (-2.26% today) · US market open, as of October 23, 2026 at 13:32 UTC; quotes may be delayed. Prev close 179.99 · day 174–177.93 · 52w 80.29–382.65 · market cap $8.11B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $771M, net income $145M (18.8% margin), free cash flow $51.3M (SEC filings).
- Valuation: P/E 55.8x (avg 145.3x at the last 3 fiscal year-ends).
- 2 of 80 tracked superinvestors hold VICR (13F, Q2 2026): 1 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 1.50 on a 1–5 scale) (4 analysts), mean target USD 390 (range 350–450).
- Total return with dividends: 1Y +89.2% vs S&P 500 +14.9%; 5Y +16.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-20, EPS estimate USD 1.23, revenue estimate $189M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $359M | $399M | $405M | $359M | $453M | $771M |
| Gross profit | $178M | $181M | $205M | $184M | $259M | — |
| Operating income | $55.6M | $27.2M | $51.4M | -$1.3M | $81.8M | $88.4M |
| Net income | $56.6M | $25.4M | $53.6M | $6.1M | $119M | $145M |
| EPS (diluted) | $1.26 | $0.57 | $1.19 | $0.14 | $2.61 | — |
| Free cash flow | $6.7M | -$41.0M | $41.1M | $27.2M | $119M | $51.3M |
| Gross margin | 49.6% | 45.2% | 50.6% | 51.2% | 57.3% | — |
| Operating margin | 15.5% | 6.8% | 12.7% | -0.4% | 18.1% | 11.5% |
| Net margin | 15.8% | 6.4% | 13.2% | 1.7% | 26.2% | 18.8% |
| Revenue growth | +21.2% | +11.1% | +1.5% | -11.4% | +26.1% | — |
| Cash + short-term investments | $228M | $191M | — | — | $403M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 55.8x · P/S 10.5x · P/FCF 158.2x · P/B 9.7x · FCF yield 0.63% · Earnings yield 1.79%
P/E at fiscal year-ends: Dec 2025 42.0x, Dec 2024 356.1x, Dec 2023 37.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold VICR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.05% | $5.7M | Added +7.4% |
| Lee Ainslie | Maverick Capital | 0.01% | $686K | New position |

## Analysts
Consensus Buy (mean 1.50 on a 1–5 scale), 4 analysts; mean target USD 390 (low 350, high 450).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Needham | Reiterated | Buy | $350 |
| 2026-10-01 | Needham | Target raised | Buy | $320 → $350 |
| 2026-09-22 | Roth Capital | Reiterated | Buy | $375 |
| 2026-09-22 | Needham | Reiterated | Buy | $320 |
| 2026-07-21 | Needham | Target lowered | Buy | $400 → $320 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +89.2% | +16.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +89.3% | +3.0% |
| Volatility (annualized) | 94.0% | 73.4% |
| Max drawdown | -53.7% (Jun 2026→Oct 2026) | -79.5% (Nov 2021→Jun 2024) |

## Peers (Electronic Components)
SANM (Sanmina Corporation) USD 155 +0.34% · LFUS (Littelfuse, Inc.) USD 350.31 +0.01% · TTMI (TTM Technologies, Inc.) USD 75.45 +2.11% · RAL (Ralliant Corporation) USD 65.05 -0.91% · FN (Fabrinet) USD 314.27 -1.07% · PLXS (Plexus Corp.) USD 218.07 -1.23%

## More
Full page: https://nexqual.com/VICR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in VICR's own 10-K filed 2026-03-02 (https://www.sec.gov/Archives/edgar/data/751978/000119312526085102/vicr-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | ARROW ELECTRONICS, INC. (ARW) | "We reach and serve customers through several sales channels: a direct sales force; independent, authorized non-stocking distributors in Europe and Asia; and four authorized stocking distributors world-wide: Arrow Electro…" |
| Partner | Digi-Key | "We reach and serve customers through several sales channels: a direct sales force; independent, authorized non-stocking distributors in Europe and Asia; and four authorized stocking distributors world-wide: Arrow Electro…" |
| Partner | Mouser Electronics | "We reach and serve customers through several sales channels: a direct sales force; independent, authorized non-stocking distributors in Europe and Asia; and four authorized stocking distributors world-wide: Arrow Electro…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Advancedproducts | $94.2M | 65.7% | +55.5% |
| Brickproducts | $49.2M | 34.3% | +38.6% |
| Total revenue | $143.4M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $112.9M | 78.8% | +31.8% |
| Royalty | $30.4M | 21.2% | +193.9% |
| Direct Customers Contract Manufacturers & Non Stocking Distributors | $25.8M | 18.0% | +31.4% |
| Stocking Distributors Net Of Sales Allowances | $23.3M | 16.3% | +49.4% |
| Non Recurring Engineering | $91,000 | 0.1% | -64.5% |
| Total revenue | $143.4M | 100% | — |
The lines above cover 134.3% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $77.4M | 54.0% | +67.4% |
| Country Us | $77.4M | 54.0% | +67.4% |
| Asia Pacific | $49.4M | 34.5% | +27.6% |
| Europe | $16.2M | 11.3% | +49.3% |
| All Other Countries | $318,000 | 0.2% | +34.7% |
| Total revenue | $143.4M | 100% | — |
The lines above cover 154% of total revenue.

## Customer concentration

Period ended 2025-12-31: 11.1% of revenue from unnamed direct customers (10-K, filed 2026-03-02).

## Company outlook (8-K filed 2026-10-20)

- "Any statement in this press release that is not a statement of historical fact is a forward-looking statement, and, the words "believes," "expects," "anticipates," "intends," "estimates," "plans," "assumes," "may," "will," "would," "should," "continue," "prospective," "project," and other similar expressions identify forward-looking statements."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.23 | $1.09 | +12.5% | $188.7M | 3 |
| Next quarter (ends 2027-03-31) | $1.30 | $1.19 | +9.4% | $203.6M | 3 |
| Current fiscal year (ends 2026-12-31) | $4.21 | $3.49 | +20.6% | $642.1M | 3 |
| Next fiscal year (ends 2027-12-31) | $6.07 | $5.55 | +9.3% | $943.0M | 3 |