VICR

MKT CAP:$12B

Vicor Corporation

Market Cap

$12B

Technology·Hardware, Equipment & Parts·🇺🇸 United States·NASDAQ

Technology·Hardware,·🇺🇸·NASDAQ

Stock Price

$265.00+$148.14 (+126.77%)

Apr 22, 2026

Company Details

Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. ...

CEO

Patrizio Vinciarelli

IPO Date

Apr 3, 1990

Website

www.vicorpower.com

Key Metrics TTM

Revenue

$472M

+27.8% YoY

Net Income

$137M

EPS (Diluted)

$2.99

Free Cash Flow

$119M

Revenue / Share

$9.98

Gross Margin

58.8%

Operating Margin

21.0%

Net Margin

29.0%

FCF Margin

25.3%

P/S

26.0x

P/E

89.8x

Earnings Reports

Q1 2026

Apr 21, 2026

NEW

$113M+20.2%EPS $0.44

FY 2025

Mar 2, 2026

$408M+13.5%EPS $2.61

Q4 2025

Mar 2, 2026

$107M+11.5%EPS $1.01

Q3 2025

Oct 29, 2025

$110M+18.5%EPS $0.63

Q2 2025

Aug 1, 2025

$141M+64.3%EPS $0.91

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$102M	$47M	$11M
Q3 22	$103M	$47M	$3M
Q4 22	$105M	$49M	$8M
Q1 23	$98M	$47M	$10M
Q2 23	$107M	$55M	$18M
Q3 23	$108M	$56M	$16M
Q4 23	$93M	$47M	$7M
Q1 24	$84M	$45M	-$16M
Q2 24	$86M	$43M	$214.0K
Q3 24	$93M	$46M	$5M
Q4 24	$96M	$50M	$9M
Q1 25	$94M	$44M	-$149.0K
Q2 25	$141M	$92M	$45M
Q3 25	$110M	$64M	$21M
Q4 25	$107M	$59M	$16M
Q1 26	$113M	$62M	$17M

Valuation

Quarter	P/S	P/E
Q2 22	7.1x	69.3x
Q3 22	7.2x	105.1x
Q4 22	6.3x	99.0x
Q1 23	5.1x	65.5x
Q2 23	5.9x	63.5x
Q3 23	6.2x	48.8x
Q4 23	4.3x	32.6x
Q1 24	4.4x	61.3x
Q2 24	4.0x	153.7x
Q3 24	5.3x	417.8x
Q4 24	6.2x	361.8x
Q1 25	5.7x	91.0x
Q2 25	4.8x	31.2x
Q3 25	4.9x	26.5x
Q4 25	11.1x	42.3x
Q1 26	17.8x	61.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$5M	-$18M
Q2 22	$11M	-$3M
Q3 22	$7M	-$8M
Q4 22	$929.0K	-$12M
Q1 23	$10M	$24.0K
Q2 23	$19M	$11M
Q3 23	$24M	$16M
Q4 23	$22M	$14M
Q1 24	$3M	-$5M
Q2 24	$16M	$9M
Q3 24	$23M	$14M
Q4 24	$10M	$8M
Q1 25	$20M	$16M
Q2 25	$65M	$59M
Q3 25	$38M	$34M
Q4 25	$16M	$10M

Capital Expenditures

Quarter	CapEx
Q1 22	$23M
Q2 22	$14M
Q3 22	$14M
Q4 22	$13M
Q1 23	$10M
Q2 23	$9M
Q3 23	$8M
Q4 23	$7M
Q1 24	$7M
Q2 24	$6M
Q3 24	$8M
Q4 24	$2M
Q1 25	$5M
Q2 25	$6M
Q3 25	$4M
Q4 25	$6M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+7.1%	+20.6%
Q3 22	+21.4%	+37.3%
Q4 22	+16.8%	+19.7%
Q1 23	+10.8%	+4.6%
Q2 23	+4.5%	-2.2%
Q3 23	+4.6%	-8.0%
Q4 23	-12.2%	-12.4%
Q1 24	-14.3%	+14.4%
Q2 24	-19.6%	-3.6%
Q3 24	-13.6%	-4.7%
Q4 24	+3.8%	+1.9%
Q1 25	+12.0%	-5.9%
Q2 25	+64.3%	+11.7%
Q3 25	+18.5%	+2.0%
Q4 25	+11.5%	+5.3%
Q1 26	+20.2%	+2.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$3M	4.0%
Q3 24	$4M	4.3%
Q4 24	$0	0.0%
Q1 25	$4M	4.6%
Q2 25	$4M	2.6%
Q3 25	$4M	4.0%
Q4 25	$4M	4.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 22	$16M	—	—	$20M
Q3 22	$15M	—	—	$23M
Q4 22	$16M	$21M	$4M	—
Q1 23	$16M	—	—	$20M
Q2 23	$17M	—	—	$20M
Q3 23	$18M	—	—	$22M
Q4 23	$17M	$19M	$4M	—
Q1 24	$18M	—	—	$26M
Q2 24	$17M	—	—	$23M
Q3 24	$17M	—	—	$23M
Q4 24	$17M	—	—	$24M
Q1 25	$19M	—	—	$25M
Q2 25	$19M	—	—	$28M
Q3 25	$20M	—	—	$23M
Q4 25	$21M	—	—	$23M
Q1 26	$22M	$23M	—	—

Revenue Segments

Quarter	Advanced Products	Brick Products
Q2 22	$68M	$35M
Q3 22	$59M	$44M
Q4 22	$64M	$42M
Q1 23	$51M	$47M
Q2 23	$68M	$39M
Q3 23	$58M	$49M
Q4 23	$4M	$89M
Q1 24	$43M	$41M
Q2 24	$46M	$39M
Q3 24	$49M	$44M
Q4 24	$58M	$38M
Q1 25	$60M	$34M
Q3 25	$66M	$45M
Q4 25	$63M	$45M

Revenue by Geography

Quarter	All Other Countries Member	Asia Pacific	Country US	Europe	All Other Countries	United States
Q2 22	$1M	$62M	$31M	$7M	—	—
Q3 22	$697.0K	$63M	$31M	$9M	—	—
Q4 22	—	$50M	$42M	$12M	—	—
Q1 23	—	$50M	$35M	$12M	$986.0K	—
Q2 23	—	$59M	$34M	$13M	$956.0K	—
Q3 23	—	$51M	$40M	$16M	$829.0K	—
Q4 23	—	$33M	$40M	$19M	$823.0K	—
Q1 24	—	$24M	$48M	$11M	$536.0K	—
Q2 24	—	$27M	$49M	$10M	$380.0K	—
Q3 24	—	$34M	$48M	$11M	$484.0K	—
Q4 24	—	$45M	$41M	$10M	$40.0K	—
Q1 25	—	$47M	—	$10M	$166.0K	$37M
Q3 25	—	$35M	—	$11M	$927.0K	$63M
Q4 25	—	$41M	—	$11M	$460.0K	$54M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$188M	$20M	$208M
Q3 22	$182M	$20M	$202M
Q4 22	$191M	$0	$191M
Q1 23	$193M	$0	$193M
Q2 23	$204M	$0	$204M
Q3 23	$228M	$0	$228M
Q4 23	$242M	$0	$242M
Q1 24	$239M	$0	$239M
Q2 24	$252M	$0	$252M
Q3 24	$268M	$0	$268M
Q4 24	$277M	$0	$277M
Q1 25	$296M	$0	$296M
Q2 25	$339M	$0	$339M
Q3 25	$362M	$0	$362M
Q4 25	$403M	$0	$403M
Q1 26	$404M	$0	$404M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	45M	-0.2%	+0.1%
Q3 22	45M	+0.1%	-0.3%
Q4 22	45M	-0.1%	-0.6%
Q1 23	45M	+0.1%	-0.1%
Q2 23	45M	-0.0%	+0.1%
Q3 23	45M	+0.6%	+0.6%
Q4 23	45M	-0.4%	+0.4%
Q1 24	45M	-1.1%	-0.9%
Q2 24	45M	+0.8%	-0.1%
Q3 24	45M	+0.7%	-0.0%
Q4 24	45M	+0.3%	+0.6%
Q1 25	45M	+0.4%	+2.2%
Q2 25	45M	-0.9%	+0.5%
Q3 25	45M	-0.3%	-0.5%
Q4 25	46M	+3.0%	+2.2%
Q1 26	47M	+2.1%	+3.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$99.5K	1K
Q3 22	$100.4K	1K
Q4 22	$97.0K	1K
Q1 23	$89.9K	1K
Q2 23	$98.1K	1K
Q3 23	$99.1K	1K
Q4 23	$87.2K	1K
Q1 24	$78.9K	1K
Q2 24	$80.8K	1K
Q3 24	$87.6K	1K
Q4 24	$89.5K	1K
Q1 25	$87.5K	1K
Q2 25	$131.3K	1K
Q3 25	$102.8K	1K
Q4 25	$98.2K	1K
Q1 26	$103.5K	1K

Revenue / Employee