Vicor Corp. (VICR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.1	$1.17	+6.4%	—	$143.4M	—
Q1 26	$0.41	$0.52	+26.8%	—	$113M	—
Q4 25	$0.48	$1.1	+129.2%	—	$107.3M	—
Q2 25	$0.18	$1	+455.6%	—	$141M	—
Q1 25	$0.29	$0.14	-51.7%	—	$94M	—
Q4 24	$0.21	$0.3	+42.9%	—	$96.2M	—
Q3 24	$0.14	$0.35	+150.0%	—	$93.2M	—
Q2 24	$0.11	$0.1	-9.1%	—	$85.9M	—
Q1 24	$0.11	$0.06	-45.5%	—	$83.9M	—
Q4 23	$0.36	$0.31	-13.9%	—	$92.7M	—
Q3 23	$0.32	$0.37	+15.6%	—	$107.8M	—
Q2 23	$0.19	$0.38	+100.0%	—	$106.7M	—
Q1 23	$0.21	$0.25	+19.0%	—	$97.8M	—
Q4 22	$0.21	$0.18	-14.3%	—	$105.5M	—
Q3 22	$0.22	$0.18	-18.2%	—	$103.1M	—
Q2 22	$0.1	$0.24	+140.0%	—	$102.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.63	—	—	$452.7M	—
FY24	—	$0.14	—	—	$359.1M	—
FY23	—	$1.21	—	—	$405.1M	—
FY22	—	$0.58	—	—	$399.1M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$200.3M	$227.8M	$291.2M	$263M	$296.6M	$359.4M	$399.1M	$405.1M	$359.1M	$452.7M
YoY change	-9.04%	+13.8%	+27.8%	-9.7%	+12.8%	+21.2%	+11.1%	+1.5%	-11.4%	+26.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	200.3M	227.8M	291.2M	263M	296.6M	359.4M	399.1M	405.1M	359.1M	452.7M
Cost of revenue	109.1M	126.2M	152.2M	140M	165.1M	181.2M	218.5M	200.1M	175.1M	193.3M
Gross profit	91.2M	101.7M	139M	123M	131.4M	178.2M	180.6M	204.9M	184M	259.4M
Gross margin	45.5%	44.6%	47.7%	46.8%	44.3%	49.6%	45.2%	50.6%	51.2%	57.3%
Research & development	41.8M	44.9M	44.3M	46.6M	50.9M	53.1M	60.6M	67.9M	68.9M	78.6M
Selling, general & administrative	55.7M	58.1M	62.2M	62.6M	63.2M	69.5M	86.3M	85.7M	96.9M	99M
Operating expenses	97.5M	103M	106.5M	109.1M	114.1M	122.6M	146.9M	153.6M	165.8M	177.6M
Operating income	-6.3M	-1.4M	32.5M	13.8M	17.4M	55.6M	33.7M	51.4M	18.2M	81.8M
Operating margin	-3.15%	-0.6%	11.1%	5.26%	5.86%	15.5%	8.44%	12.7%	5.07%	18.1%
Non-operating income, net	216K	1.1M	215K	766K	1M	277K	-6.3M	669K	-19.2M	613K
Pretax income	-6M	-98K	32.9M	14.9M	18.5M	56.8M	28.7M	60.2M	10.5M	94.6M
Income tax	231K	-356K	1.1M	778K	539K	176K	3.3M	6.6M	4.3M	-24M
Net income	-6.3M	258K	31.8M	14.1M	17.9M	56.6M	25.4M	53.6M	6.1M	118.6M
Net margin	-3.13%	0.11%	10.9%	5.37%	6.04%	15.8%	6.37%	13.2%	1.71%	26.2%
EBITDA	2.4M	7.2M	42.3M	24.2M	28.2M	67.6M	54.6M	68.8M	56.9M	103.2M
EPS	-0.16	0	0.8	0.35	0.42	1.3	0.58	1.21	0.14	2.63
Diluted EPS	-0.16	0	0.78	0.34	0.41	1.26	0.57	1.19	0.14	2.61

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	107.8M	92.7M	83.9M	85.9M	93.2M	96.2M	94M	141M	110.4M	107.3M	113M	143.4M
Cost of revenue	52M	45.3M	38.7M	43.1M	47.4M	45.8M	49.6M	48.9M	46.9M	47.8M	50.6M	60.2M
Gross profit	55.9M	47.3M	45.1M	42.8M	45.7M	50.4M	44.4M	92.1M	63.5M	59.4M	62.4M	83.1M
Gross margin	51.8%	51.1%	53.8%	49.8%	49.1%	52.4%	47.2%	65.3%	57.5%	55.4%	55.2%	58%
Research & development	17.8M	17.3M	18M	16.9M	17M	17M	19.4M	18.8M	19.9M	20.5M	22.3M	20.6M
Selling, general & administrative	22.4M	22.7M	26M	23.3M	23.4M	24.2M	25.1M	28M	22.7M	23.2M	23.2M	27.6M
Operating expenses	40.2M	40M	44M	40.3M	40.4M	41.2M	44.5M	46.7M	42.6M	43.7M	45.5M	48.2M
Operating income	15.7M	7.3M	1.1M	2.5M	5.4M	9.2M	-149K	45.4M	20.9M	15.7M	16.9M	34.9M
Operating margin	14.6%	7.93%	1.29%	2.93%	5.78%	9.57%	-0.16%	32.2%	18.9%	14.6%	14.9%	24.3%
Non-operating income, net	-72K	526K	-17.3M	-2.3M	681K	-290K	420K	705K	-706K	194K	247K	693K
Pretax income	17.6M	10.6M	-13.4M	3M	9.1M	11.8M	3M	49M	23.3M	19.2M	20.4M	38.9M
Income tax	1M	1.9M	1.1M	4.2M	-2.5M	1.5M	424K	7.8M	-5M	-27.3M	-273K	-10.9M
Net income	16.6M	8.7M	-14.5M	-1.2M	11.6M	10.2M	2.6M	41.2M	28.3M	46.5M	20.7M	49.8M
Net margin	15.4%	9.35%	-17.2%	-1.39%	12.4%	10.7%	2.73%	29.2%	25.6%	43.4%	18.3%	34.7%
EBITDA	20.5M	11.1M	23.2M	9.7M	9.7M	14.4M	4.9M	50.2M	27.1M	21M	22.3M	39.9M
EPS	0.37	0.19	-0.33	-0.03	0.26	0.23	0.06	0.92	0.63	1.03	0.45	1.08
Diluted EPS	0.37	0.19	-0.33	-0.03	0.26	0.23	0.06	0.91	0.63	1.01	0.44	1.04

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	586.5M	819.9M	1.5B	1.9B	3.9B	5.5B	2.4B	2B	2.2B	4.9B	13.1B
Enterprise value	530.3M	775.6M	1.4B	1.8B	3.7B	5.3B	2.2B	1.8B	1.9B	4.5B	12.6B
Shares outstanding	38.8M	39.2M	39.9M	40.3M	42.2M	43.7M	44M	44.3M	44.9M	45M	45M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	3.2K	47.3	133.5	217.1	97.9	93	37.2	353.5	41.6	90.6
P/S	2.93	3.6	5.17	7.16	13.1	15.4	5.93	4.92	6.04	10.9	27.6
P/B	4.48	6.01	8.18	9.15	11.1	13.1	5.09	3.68	3.81	6.93	15.7
EV/EBITDA	222.6	108	33.9	74.5	130.4	78.7	40	25.6	33.4	44	109.4
EV/Sales	2.65	3.4	4.93	6.86	12.4	14.8	5.47	4.34	5.29	10	26.5
Earnings yield	—	0.03%	2.11%	0.75%	0.46%	1.02%	1.07%	2.69%	0.28%	2.4%	1.1%
FCF yield	-1.34%	-1.83%	1.19%	0.52%	0.16%	0.12%	-1.73%	2.06%	1.26%	2.42%	0%
PEG	—	—	—	—	—	—	—	—	—	—	5.21

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	45.5%	44.6%	47.7%	46.8%	44.3%	49.6%	45.2%	50.6%	51.2%	57.3%	58%
Operating margin	-3.15%	-0.6%	11.1%	5.26%	5.86%	15.5%	8.44%	12.7%	5.07%	18.1%	24.3%
Net margin	-3.13%	0.11%	10.9%	5.37%	6.04%	15.8%	6.37%	13.2%	1.71%	26.2%	30.6%
ROE	-4.78%	0.19%	17.3%	6.85%	5.1%	13.4%	5.48%	9.91%	1.08%	16.7%	20.1%
ROA	-4.06%	0.16%	14.4%	5.86%	4.52%	11.9%	4.74%	9.01%	0.96%	15.1%	7.48%
ROIC	-8.44%	-1.48%	27.6%	10.4%	11.7%	27.6%	10.6%	14.9%	3.55%	25.9%	22.7%
Return on tangible assets	-4.11%	0.16%	14.4%	5.89%	4.53%	11.9%	4.74%	9.02%	0.96%	15.1%	16.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	5.03	4.24	4.59	5.98	7.82	7.27	5.62	9.52	7.49	8.99	13.2
Quick ratio	3.81	2.94	3.27	4.34	6.41	5.9	4.05	7.1	5.77	7.59	11.2
Debt / equity	—	—	0	0.02	0.01	0.01	0.02	0.02	0.01	0.01	0.01
Debt / assets	—	—	0	0.02	0.01	0.01	0.02	0.01	0.01	0.01	0.01
Net debt / EBITDA	—	—	-1.67	-3.32	-7.34	-3.29	-3.33	-3.4	-4.74	-3.84	-4.05
Effective tax rate	0%	0%	3.3%	5.23%	2.92%	0.31%	11.4%	11%	41.5%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.16	5.81	7.3	6.52	7.03	8.23	9.07	9.14	7.99	10.1	10.5
EPS (basic)	-0.16	0	0.8	0.35	0.42	1.3	0.58	1.21	0.14	2.63	2.63
EPS (diluted)	-0.16	0	0.78	0.34	0.41	1.26	0.57	1.19	0.14	2.61	3.13
Book value per share	3.37	3.48	4.62	5.1	8.32	9.71	10.6	12.2	12.7	15.8	18.1
FCF per share	-0.2	-0.38	0.45	0.24	0.14	0.15	-0.93	0.93	0.61	2.65	1.07
Cash per share	1.45	1.13	1.77	2.1	5.02	5.21	4.33	5.47	6.17	8.94	9.84
Capex per share	0.22	0.32	0.46	0.31	0.68	1.09	1.45	0.75	0.53	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.21%	5.5%	6.23%	4.75%	9.66%	13.3%	16%	8.26%	6.57%	—	—
Capex / operating cash flow	1.2K%	-472.5%	51.2%	53.8%	82.8%	87.8%	281.4%	46.2%	46.9%	—	—
Payout ratio	0%	0%	0%	0.99%	0%	—	—	—	—	—	0%
Dividend yield	0%	0%	0%	0.01%	0%	—	—	—	—	—	0.21%

Yield

0.21%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.15

ex-dividend Aug 5, 2011

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 5, 2011	$0.15
Jul 14, 2010	$0.30
Aug 21, 2008	$0.15
Mar 31, 2008	$0.15
Aug 10, 2007	$0.15
Mar 7, 2007	$0.15
Jul 13, 2006	$0.15
Feb 24, 2006	$0.12

Split history

Date	Ratio
Sep 19, 1995	2:1
Aug 21, 1991	2:1

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$107.8M	$92.7M	$83.9M	$85.9M	$93.2M	$96.2M	$94M	$141M	$110.4M	$107.3M	$113M	$143.4M
YoY change	+4.58%	-12.2%	-14.3%	-19.6%	-13.6%	+3.79%	+12%	+64.3%	+18.5%	+11.5%	+20.2%	+1.63%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	56.2M	44.2M	70.6M	84.7M	211.9M	227.6M	190.6M	242.2M	277.3M	402.8M
Receivables	25.2M	34.5M	43.7M	38.1M	41M	55.1M	65.4M	52.6M	52.9M	60.7M
Inventory	27.1M	36.5M	47.4M	49.2M	57.3M	67.3M	101.4M	106.6M	106M	91.3M
Total current assets	111.8M	118.8M	165.1M	179.1M	316.9M	356.8M	362.6M	420.4M	463M	587.4M
Property, plant & equipment	-6.4M	-3.8M	5.3M	11.2M	28.9M	65.8M	92.5M	74.8M	66.2M	59M
Goodwill & intangibles	1.7M	—	—	1M	850K	664K	516K	384K	298K	238K
Total assets	154.1M	165.7M	221.1M	240.7M	396.2M	477.2M	536.9M	594.9M	641.1M	785.8M
Accounts payable	7.6M	9.1M	16.1M	9M	14.1M	21.2M	22.2M	12.1M	8.7M	12.3M
Short-term debt	—	—	—	1.5M	1.6M	1.6M	1.4M	1.9M	1.7M	1.6M
Total current liabilities	22.2M	28M	36M	29.9M	40.5M	49.1M	64.5M	44.2M	61.8M	65.3M
Long-term debt	—	—	102K	2.9M	3M	3.2M	7M	6.4M	5.6M	5.6M
Total liabilities	23.1M	29.3M	37M	34.9M	45.1M	53.3M	72.6M	53.8M	70.8M	74M
Shareholders' equity	131M	136.4M	184.1M	205.9M	351.2M	423.9M	464.3M	541.1M	570.3M	711.8M
Total debt	—	—	102K	4.4M	4.6M	4.8M	8.5M	8.2M	7.3M	7.2M
Net debt	—	—	-70.5M	-80.3M	-157.1M	-177.6M	-182.2M	-234M	-269.9M	-395.6M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	227.8M	242.2M	239.2M	251.9M	267.6M	277.3M	296.1M	338.5M	362.4M	402.8M	404.2M	453.6M
Receivables	62.6M	52.6M	57.6M	54.9M	58.5M	52.9M	65.9M	55.1M	53.3M	60.7M	67.4M	78.9M
Inventory	104.6M	106.6M	112.3M	109.1M	105.8M	106M	98.5M	95.5M	92.3M	91.3M	94.8M	104.5M
Total current assets	399M	420.4M	428.3M	435.3M	450.8M	463M	487M	514.8M	533.9M	587.4M	599.5M	670.3M
Property, plant & equipment	—	74.8M	—	—	—	66.2M	—	—	—	59M	—	—
Goodwill & intangibles	—	384K	—	—	—	298K	—	—	—	238K	—	—
Total assets	584.1M	594.9M	605.1M	613.2M	632.8M	641.1M	665M	693.5M	710.2M	785.8M	804.9M	894.2M
Accounts payable	14.1M	12.1M	12.4M	12.3M	15.7M	8.7M	16.9M	16.8M	15.4M	12.3M	16.7M	20.4M
Short-term debt	1.7M	1.9M	1.8M	1.8M	1.7M	1.7M	1.7M	1.7M	1.6M	1.6M	1.4M	1.8M
Total current liabilities	46.5M	44.2M	64.1M	67.8M	70.4M	61.8M	75.7M	73.8M	70.7M	65.3M	41.9M	50.6M
Long-term debt	6.6M	6.4M	6.1M	5.7M	5.6M	5.6M	5.4M	6M	5.8M	5.6M	5.7M	5.8M
Total liabilities	55.4M	53.8M	73.1M	75.8M	77.9M	70.8M	84.5M	84.6M	79.9M	74M	50.8M	59.6M
Shareholders' equity	528.8M	541.1M	532M	537.5M	554.9M	570.3M	580.6M	608.9M	630.4M	711.8M	754.1M	834.6M
Total debt	8.3M	8.2M	7.9M	7.5M	7.3M	7.3M	7M	7.7M	7.4M	7.2M	7.1M	7.6M
Net debt	-219.5M	-234M	-231.3M	-244.4M	-260.3M	-269.9M	-289.1M	-330.8M	-355M	-395.6M	-397.1M	-446M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-6.3M	258K	31.8M	14.1M	17.9M	56.6M	25.4M	53.6M	6.1M	118.6M
Depreciation & amortization	8.4M	8.9M	9.3M	10.3M	11.1M	11.7M	13.8M	17.2M	18.6M	20.8M
Stock-based compensation	506K	1.7M	3.4M	3M	5.9M	7M	10.3M	12.9M	15.3M	16.8M
Change in working capital	-1.9M	-13.5M	-9M	-4.6M	-309K	-20.9M	-34.2M	-11.2M	-9.2M	7.7M
Operating cash flow	709K	-2.7M	35.5M	23.2M	34.6M	54.4M	22.7M	72.4M	50.4M	139.5M
Capital expenditure	-8.4M	-12.5M	-18.2M	-12.5M	-28.7M	-47.8M	-64M	-33.5M	-23.6M	—
Investing cash flow	-8.5M	-12.5M	-18.2M	-12.5M	-78.6M	-43.7M	-19M	-33.5M	-23.6M	—
Dividends paid	0	0	0	-139K	0	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	-497K	-35.2M
Financing cash flow	1.1M	3.1M	-270K	-515K	109.5M	-153K	0	—	-497K	-35.2M
Net change in cash	-6.7M	-12.1M	17M	10.2M	65.4M	10.6M	3.8M	39M	26.3M	104.4M
Free cash flow	-7.9M	-15M	18M	9.7M	6.1M	6.7M	-41M	41.1M	27.2M	119.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	16.6M	8.7M	-14.5M	-1.2M	11.6M	10.2M	2.6M	41.2M	28.3M	46.5M	20.7M	49.8M
Depreciation & amortization	4.6M	4M	4.6M	4.7M	4.7M	4.6M	5.2M	5.2M	5.2M	5.2M	5.3M	5.4M
Stock-based compensation	3.5M	3.6M	3.8M	3.4M	4M	4.1M	4.3M	3.7M	4.4M	4.4M	3.9M	4.2M
Change in working capital	-729K	6.3M	-8.6M	6.7M	2.3M	-7.8M	8M	13.8M	1.1M	-24.9M	-4.9M	-14.3M
Operating cash flow	23.9M	22.6M	2.6M	15.9M	22.6M	11.1M	20M	63.9M	38.5M	15.7M	-3.9M	34.1M
Capital expenditure	-7.7M	-7.2M	-7.3M	-6.1M	-8.5M	-1.7M	-4.5M	-6.2M	—	—	—	—
Investing cash flow	-7.7M	-7.2M	-7.3M	-6.1M	-8.5M	-1.7M	-4.5M	-6.2M	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	-497K	0	—	—	-15.4M	-2.2M	—	—
Financing cash flow	—	—	—	—	-497K	0	—	—	-15.4M	-2.2M	—	—
Net change in cash	16.2M	15.5M	-4.7M	9.7M	13.6M	9.3M	15.5M	57.7M	23.1M	13.5M	-3.9M	34.1M
Free cash flow	16.2M	14.4M	-4.7M	9.4M	14.1M	8.4M	15.6M	59M	34.5M	10.2M	-16.3M	23M

Vicor Corp. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement