VICRNasdaqElectronic Components, NECFiscal year ends December 31
VICOR CORP
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 29, 2026
$190.68−0.82 (-0.43%)
Close on Oct 19, 2026
- Market cap
- $9.01B
- P/E (TTM)
- 63.8
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
57.3%+13.0 pts over 5 years
Operating margin
18.1%+12.2 pts over 5 years
Net margin
26.2%+20.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +26.1% | +4.3% | +8.8% | +7.5% | |
| Gross profit | +41.0% | +12.8% | +14.6% | +10.1% | |
| Operating income | – | +44.4% | +36.3% | – | |
| Net income | +1834.3% | +67.0% | +45.9% | +37.4% | |
| EPS, diluted | +1764.3% | +66.1% | +44.8% | +35.0% | |
| Free cash flow | +337.7% | – | +81.3% | +47.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -4.7% | 6.4% | 18.5% | |
| Return on assets | -4.0% | 5.6% | 16.6% | |
| Current ratio | 5.03 | 7.82 | 8.99 | |
| Inventory turnover | 4.3× | 3.1× | 2.0× | |
| Capex to revenue | 4.2% | 9.7% | 4.5% | |
| Diluted shares | 39M | 44M | 45M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Vicor generated $342.30M from operations and spent $224.77M on capital expenditure, dividends and share buybacks. 84% of that went back into the business.
Generated
$342.30M
Used
$224.77M
Capital expenditure$189.10M84%Dividends$00%Share buybacks$35.67M16%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin26.2%
×Asset turnover0.63×
×Equity multiplier1.11×
=Return on equity, FY202518.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 26.2% | 0.63× | 1.11× | 18.5% |
| FY2024 | 1.7% | 0.58× | 1.11× | 1.1% |
| FY2023 | 13.2% | 0.72× | 1.13× | 10.7% |
| FY2022 | 6.4% | 0.79× | 1.14× | 5.7% |
| FY2021 | 15.8% | 0.82× | 1.13× | 14.6% |
| FY2020 | 6.0% | 0.93× | 1.14× | 6.4% |
| FY2019 | 5.4% | 1.14× | 1.19× | 7.2% |
| FY2018 | 10.9% | 1.51× | 1.21× | 19.8% |
| FY2017 | 0.1% | 1.42× | 1.20× | 0.1% |
| FY2016 | -3.1% | 1.29× | 1.17× | -4.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$118.56M
- Cash generatingOperating cash flow above zero$139.55M
- Return on assets improvedROA up on the prior year1.0% → 18.5%
- Earnings backed by cashOperating cash flow above net income$139.55M vs $118.56M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose7.49 → 8.99
- No dilutionShare count did not rise45M → 45M
- Gross margin improvedGross margin up on the prior year51.24% → 57.31%
- More efficientAsset turnover rose0.60 → 0.71