VICOR CORP VICR

Technology SIC 3679 - Electronic Components, NEC NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing › Other Electronic Component Manufacturing derived Nasdaq

We design, develop, manufacture, and market modular power components and power systems for converting electrical power (expressed as "watts," and represented by the symbol "W", with wattage being the product of voltage, expressed as "volts," and represented by the symbol "V," and current, expressed as "amperes," and represented by the symbol "I"). In electrically-powered devices utilizing alternating current ("AC") voltage from a primary AC source (for example, a wall outlet), a power system converts AC voltage into the stable direct current ("DC") voltage necessary to power subsystems and/or individual applications and devices (known as "loads"). In many electronic devices, this DC voltage may be further converted to one or more voltages and currents required by a range of loads. In equipment utilizing DC voltage from a primary DC source (for example, a battery) or a secondary source (such as an AC-DC converter), the initial DC voltage similarly may require further conversion. A power system most commonly incorporates four voltage conversion functions: transformation, isolation, rectification, and regulation.

Last close 176.04 2026-10-23
Market cap $8.00B estimated share count
52-week range 80.29 - 382.65

Valuation FY2025 figures against the last close

P/S19.6x
P/E67.4x
P/FCF67.1x
EV/EBITDA78.0x
Dividend yield—
Diluted EPS2.61

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Asia Pacific
  • Europe
  • Other
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 200.6M (49.2%) 49% United States Asia Pacific, FY2025: 162.4M (39.8%) 40% Asia Pacific Europe, FY2025: 42.9M (10.5%) 11% Europe Other, FY2025: 1.8M (0.4%) FY2024 United States, FY2024: 185.8M (51.8%) 52% Asia Pacific, FY2024: 130M (36.2%) 36% Europe, FY2024: 41.8M (11.6%) 12% Other, FY2024: 1.4M (0.4%) FY2023 United States, FY2023: 149.5M (36.9%) 37% Asia Pacific, FY2023: 192.3M (47.5%) 47% Europe, FY2023: 59.7M (14.7%) 15% Other, FY2023: 3.6M (0.9%)
Region FY2025FY2024FY2023
United States $200.6M $185.8M $149.5M
Asia Pacific $162.4M $130.0M $192.3M
Europe $42.9M $41.8M $59.7M
Other $1.8M $1.4M $3.6M

As the company reported it, from the “Segment Information - Summary of Net Revenues Disaggregated by Geography Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Advanced Products
  • Brick Products
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Advanced Products, FY2025: 248.6M (61.0%) 61% Advanced Products Brick Products, FY2025: 159.1M (39.0%) 39% Brick Products FY2024 Advanced Products, FY2024: 197.3M (55.0%) 55% Brick Products, FY2024: 161.7M (45.0%) 45% FY2023 Advanced Products, FY2023: 223.9M (55.3%) 55% Brick Products, FY2023: 181.2M (44.7%) 45%
Segment FY2025FY2024FY2023
Advanced Products $248.6M $197.3M $223.9M
Brick Products $159.1M $161.7M $181.2M

As the company reported it, from the “Revenues - Summary of Net Revenues Disaggregated by Geography (Detail)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $407.7M$359.1M$405.1M$399.1M$359.4M$296.6M$263.0M$291.2M$227.8M$200.3M
Cost of revenue $193.3M$175.1M$200.1M$218.5M$181.2M$165.1M$140.0M$152.2M$126.2M$109.1M
Gross profit $259.4M$184.0M$204.9M$180.6M$178.2M$131.4M$123.0M$139.0M$101.7M$91.2M
R&D $78.6M$68.9M$67.9M$60.6M$53.1M$50.9M$46.6M$44.3M$44.9M$41.8M
SG&A $99.0M$96.9M$85.7M$86.3M$69.5M$63.2M$62.6M$62.2M$58.1M$55.7M
Total operating expenses $177.6M$185.3M$153.6M$153.4M$122.6M$114.1M$109.1M$106.9M$103.0M$97.5M
Operating income $81.8M-$1.3M$51.4M$27.2M$55.6M$17.4M$13.8M$32.1M-$1.4M-$6.3M
Interest expense $12.1M$11.5M$8.2M$1.3M$930.0K$95.0K————
Pre-tax income $94.6M$10.5M$60.2M$28.7M$56.8M$18.5M$14.9M$32.9M-$98.0K-$6.0M
Income tax $24.0M$4.3M$6.6M$3.3M$176.0K$539.0K$778.0K$1.1M$356.0K$231.0K
Net income $118.6M$6.1M$53.6M$25.4M$56.6M$17.9M$14.1M$31.7M$167.0K-$6.2M
EPS, basic 2.630.141.210.581.300.420.350.800.00-0.16
EPS, diluted 2.610.141.190.571.260.410.340.780.00-0.16
Shares, diluted (wtd. avg.) 45.5M45.2M45.0M44.9M45.0M43.9M41.7M40.7M39.9M38.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $402.8M$277.3M$242.2M$190.6M$182.4M$161.7M$84.7M$70.6M$44.2M$56.2M
Short-term investments ———$0$45.2M$50.2M————
Receivables $60.7M$52.9M$52.6M$65.4M$55.1M$41.0M$38.1M$43.7M$34.5M$25.2M
Inventory $91.3M$106.0M$106.6M$101.4M$67.3M$57.3M$49.2M$47.4M$36.5M$27.1M
Total current assets $587.4M$463.0M$420.4M$362.6M$356.8M$316.9M$179.1M$165.1M$118.8M$111.8M
Property, plant and equipment $147.7M$152.7M$157.7M$166.0M$116.0M$74.8M$57.0M$50.4M$41.4M$37.6M
Total assets $785.8M$641.1M$594.9M$536.9M$477.2M$396.2M$240.7M$221.1M$165.7M$154.1M
Accounts payable $12.3M$8.7M$12.1M$22.2M$21.2M$14.1M$9.0M$16.1M$9.1M$7.6M
Total current liabilities $65.3M$61.8M$44.2M$64.5M$49.1M$40.5M$29.9M$36.0M$28.0M$22.2M
Total liabilities $74.0M$70.8M$53.8M$72.6M$53.3M$45.1M$34.9M$37.0M$29.3M$23.1M
Retained earnings $421.4M$302.8M$296.7M$243.1M$217.6M$161.0M$143.1M$129.0M$93.6M$93.4M
Total equity $711.6M$570.1M$541.1M$464.3M$423.9M$351.2M$205.9M$184.1M$136.4M$131.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $139.5M$50.8M$74.5M$22.9M$54.4M$34.7M$22.2M$36.2M-$2.5M$544.0K
Depreciation and amortisation $20.8M$18.6M$17.2M$13.8M$11.7M$11.1M$10.3M$9.3M$8.9M$8.4M
Capital expenditure $20.3M$23.6M$33.5M$64.0M$47.8M$28.7M$12.5M$18.2M$12.5M$8.4M
Investing cash flow -$20.3M-$23.6M-$33.5M-$19.0M-$43.7M-$78.8M-$12.5M-$18.2M-$12.5M-$8.5M
Financing cash flow $6.3M$8.0M$10.6M$4.4M$10.1M$121.0M$4.4M$8.4M$3.1M$1.1M
Buybacks $35.2M$497.0K$0$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-194790.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2016: 200.3M Gross profit, FY2016: 91.2M Net income, FY2016: -6.2M Revenue, FY2017: 227.8M Gross profit, FY2017: 101.7M Net income, FY2017: 167K Revenue, FY2018: 291.2M Gross profit, FY2018: 139M Net income, FY2018: 31.7M Revenue, FY2019: 263M Gross profit, FY2019: 123M Net income, FY2019: 14.1M Revenue, FY2020: 296.6M Gross profit, FY2020: 131.4M Net income, FY2020: 17.9M Revenue, FY2021: 359.4M Gross profit, FY2021: 178.2M Net income, FY2021: 56.6M Revenue, FY2022: 399.1M Gross profit, FY2022: 180.6M Net income, FY2022: 25.4M Revenue, FY2023: 405.1M Gross profit, FY2023: 204.9M Net income, FY2023: 53.6M Revenue, FY2024: 359.1M Gross profit, FY2024: 184M Net income, FY2024: 6.1M Revenue, FY2025: 407.7M Gross profit, FY2025: 259.4M Net income, FY2025: 118.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $200.3M $227.8M $291.2M $263.0M $296.6M $359.4M $399.1M $405.1M $359.1M $407.7M
Gross profit $91.2M $101.7M $139.0M $123.0M $131.4M $178.2M $180.6M $204.9M $184.0M $259.4M
Net income -$6.2M $167.0K $31.7M $14.1M $17.9M $56.6M $25.4M $53.6M $6.1M $118.6M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Annual report filed Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 3679

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VREX Varex Imaging Corp $775.5M — 4.1%
MPTI M-tron Industries, Inc. $283.4M 24.9x 11.0%
ESP ESPEY MFG & ELECTRONICS CORP $155.8M 17.2x -90.5%
LGL LGL GROUP INC $85.1M 61.4x 10.2%
NSYS NORTECH SYSTEMS INC $29.4M — -7.6%