Upside case
Bull case
$56-80.1%
The bull case prices VICR at 20x on FY1 earnings, assuming continued execution and no meaningful deceleration in the core business.
Analysis OverviewBuyUpdated May 1, 2026
Vicor Corporation (VICR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
7
analysts
5 bullish · 0 bearish · 7 covering VICR
Strong Buy
0
Buy
5
Hold
2
Sell
0
Strong Sell
0
Consensus Target
$245
-12.6% vs today
Scenario Range
— – $56
Model bear to bull value window
Coverage
7
Published analyst ratings
Valuation Context
101.2x
Forward P/E · Market cap $12.6B
VICR price targets
Three scenarios for where VICR stock could go
Current
~$280
Confidence
53 / 100
Updated
May 1, 2026
Where we are now
Current · $280
Base
$274
Bull
$56
Market caseClosest to today
Base case
$274-2.4%
This is close to how the market is already pricing VICR — at roughly 99x forward earnings. No dramatic re-rating needed, just steady execution on the core business.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Vicor Corporation
VICR · NASDAQTechnologyHardware, Equipment & PartsDecember year-end
Vicor Corporation designs and manufactures modular power components and systems that convert electrical power for various electronic devices. It generates revenue primarily from selling DC-DC converters and complementary power components — with aerospace/defense and telecommunications/networking being key end markets — along with custom power system solutions. The company's competitive advantage lies in its proprietary power conversion technologies and modular architecture that enable high-density, efficient power delivery for demanding applications.
Market Cap
$12.6B
Revenue TTM
$453M
Net Income TTM
$119M
Net Margin
26.2%
VICR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
67%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+41.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.91/$0.20
Revenue
$96M/$95M
Q4 2025
EPS
$0.63/$0.48
Revenue
$110M/$108M
Q1 2026
EPS
$1.01/$0.38
Revenue
$107M/$108M
Q2 2026
EPS
$0.44/$0.40
Revenue
$113M/$109M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.91/$0.20 | +355.0% | $96M/$95M | +0.7% |
| Q4 2025 | $0.63/$0.48 | +32.2% | $110M/$108M | +2.5% |
| Q1 2026 | $1.01/$0.38 | +165.8% | $107M/$108M | -0.5% |
| Q2 2026 | $0.44/$0.40 | +10.0% | $113M/$109M | +3.3% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$502M
+10.9% YoY
FY2
$585M
+16.6% YoY
EPS Outlook
FY1
$2.81
+9.8% YoY
FY2
$3.42
+21.6% YoY
Trailing FCF (TTM)$119M
FCF Margin: 26.3%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
VICR beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
VICR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $408M
Product Mix
Latest annual revenue by segment or product family
AdvancedProducts
61.0%
+26.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
49.2%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
AdvancedProducts is the largest disclosed segment at 61.0% of FY 2025 revenue, up 26.0% YoY.
UNITED STATES is the largest reported region at 49.2%, with no year-over-year comparison yet.
VICR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly Overvalued
Fair value est. $230 — implies -14.3% from today's price.
Premium to Fair Value
14.3%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
VICR
107.4x
vs
S&P 500
25.2x
+326% premium
vs Technology Trailing P/E
VICR
107.4x
vs
Technology
27.5x
+291% premium
vs VICR 5Y Avg P/E
Today
107.4x
vs
5Y Average
68.7x
+56% premium
Forward PE
101.2x
S&P 500
19.1x
+431%
Technology
21.7x
+366%
5Y Avg
—
—
Trailing PE
107.4x
S&P 500
25.2x
+326%
Technology
27.5x
+291%
5Y Avg
68.7x
+56%
PEG Ratio
2.40x
S&P 500
1.75x
+37%
Technology
1.47x
+64%
5Y Avg
—
—
EV/EBITDA
212.7x
S&P 500
15.3x
+1294%
Technology
17.4x
+1124%
5Y Avg
60.4x
+252%
Price/FCF
106.0x
S&P 500
21.3x
+397%
Technology
19.8x
+436%
5Y Avg
56.9x
+86%
Price/Sales
31.0x
S&P 500
3.1x
+890%
Technology
2.4x
+1185%
5Y Avg
9.0x
+244%
Dividend Yield
—
S&P 500
1.88%
—
Technology
1.18%
—
5Y Avg
—
—
| Metric | VICR | S&P 500 | Technology | 5Y Avg VICR |
|---|---|---|---|---|
| Forward PE | 101.2x | 19.1x+431% | 21.7x+366% | — |
| Trailing PE | 107.4x | 25.2x+326% | 27.5x+291% | 68.7x+56% |
| PEG Ratio | 2.40x | 1.75x+37% | 1.47x+64% | — |
| EV/EBITDA | 212.7x | 15.3x+1294% | 17.4x+1124% | 60.4x+252% |
| Price/FCF | 106.0x | 21.3x+397% | 19.8x+436% | 56.9x+86% |
| Price/Sales | 31.0x | 3.1x+890% | 2.4x+1185% | 9.0x+244% |
| Dividend Yield | — | 1.88% | 1.18% | — |
VICR trades above S&P 500 benchmarks on 6 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolVICR Financial Health
Verdict
Strong
VICR generates $119M in free cash flow at a 26.3% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$453M
Revenue Growth
TTM vs prior year
+26.1%
Gross Margin
Gross profit as a share of revenue
57.3%
Operating Margin
Operating income divided by revenue
18.1%
Net Margin
Net income divided by revenue
26.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.56
Free Cash Flow (TTM)
Cash generation after capex
$119M
FCF Margin
FCF as share of revenue — the primary cash quality signal
26.3%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
8.9%
ROA
Return on assets, trailing twelve months
16.6%
Cash & Equivalents
Liquid assets on the balance sheet
$403M
Net Cash
Cash exceeds total debt — no net leverage
$390M
Debt Serviceability
Net debt as a multiple of annual free cash flow
Net cash ✓
ROE
Return on equity, trailing twelve months
18.7%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.3%
Dividend
—
Buyback
0.3%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$35M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
45M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageVICR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
AI Export Restrictions
Potential U.S. government restrictions on AI-related semiconductor sales abroad could create significant uncertainty in the chip sector, impacting Vicor's operations and revenue. This regulatory risk is particularly pertinent given the increasing scrutiny on technology exports.
High Risk
Geopolitical Tensions
Escalating global conflicts can destabilize markets and lead to fluctuations in energy prices, which may influence inflation and overall investor sentiment. Such geopolitical risks can adversely affect Vicor's business environment and stock performance.
Medium
Increased Competition
Vicor faces heightened competition in the power conversion market from major players like Intel and Texas Instruments. This competitive pressure could adversely affect Vicor's profitability and growth prospects.
Medium
Customer Concentration
The company's reliance on a limited number of large original equipment manufacturers (OEMs) for a significant portion of its revenue poses a risk. If any of these key customers encounter financial difficulties or decide to switch suppliers, Vicor could experience a substantial revenue decline.
Medium
Intellectual Property Disputes
Vicor is currently involved in legal disputes concerning the importation of power modules and computing systems that may infringe on its intellectual property. These ongoing legal battles can create uncertainty and potentially divert resources from core business operations.
Lower
Valuation Concerns
Some analyses indicate that Vicor may be overvalued, as evidenced by its high P/E ratio compared to peers and its growth rate. This valuation risk could deter potential investors and impact stock performance.
Lower
Insider Selling
Continued insider selling disclosures may exert downward pressure on the stock price, leading investors to reassess the company's valuation and future prospects. Such actions can create negative sentiment in the market.
Lower
Inflation and Interest Rates
Higher energy costs can contribute to persistent inflation, prompting investors to reevaluate expectations for interest rate changes. This macroeconomic factor can influence bond yields and overall market sentiment, potentially affecting Vicor's stock.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why VICR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
AI Infrastructure Demand
Vicor is experiencing robust demand for its advanced power modules, which are crucial for AI data centers. This demand is a significant growth driver for the company.
Accelerating Revenue and Growth
The company has shown accelerating revenue growth, with Q1 2026 revenue up 20.2% year-over-year, a notable increase from Q4 2025's 15.3% growth. Analysts project strong future EPS growth, with estimates of almost 56% annually.
Expanding Margins and Profitability
Vicor's profit margins are expanding, and its net profit margin is reported at 29.1% TTM, with analysts modeling further increases. The company's Q1 2026 earnings per share (EPS) of $0.44 beat analyst expectations of $0.40 by 10%, indicating strong profitability.
Favorable Revenue Mix (Royalties and Licensing)
A significant catalyst is the increase in high-margin royalties and licensing revenue, partly due to patent infringement rulings and settlements. This shift is expected to drive earnings growth faster than revenue.
Capacity Expansion and Utilization
Vicor is undertaking capacity expansion and seeing improved manufacturing utilization, which supports its ability to meet growing demand and improve efficiency.
Strong Financials
The company exhibits strong financial health, with a high current ratio of 14.30 and a low debt-to-equity ratio of 0.01.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
VICR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$280.34
52W Range Position
95%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$39.64
+607.2% from the low
52-Week High
$293.95
-4.6% from the high
1 Month
+80.04%
3 Month
+75.36%
YTD
+139.9%
1 Year
+577.8%
3Y CAGR
+86.8%
5Y CAGR
+26.7%
10Y CAGR
+40.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
VICR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
101.2x
vs 60.5x median
+67% above peer median
Revenue Growth
+10.9%
vs +10.5% median
+4% above peer median
Net Margin
26.2%
vs 22.1% median
+19% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
VIC VICR Vicor Corporation | $12.6B | 101.2x | +10.9% | 26.2% | Buy | -12.6% |
MPW MPWR Monolithic Power Systems, Inc. | $81.2B | 76.7x | +22.7% | 22.1% | Buy | -2.3% |
POW POWI Power Integrations, Inc. | $4.4B | 60.5x | +0.0% | 5.0% | Buy | +1.0% |
TXN TXN Texas Instruments Incorporated | $263.5B | 38.3x | +10.5% | 29.1% | Buy | -12.3% |
ADI ADI Analog Devices, Inc. | $202.9B | 36.4x | +16.0% | 23.0% | Buy | -9.9% |
MCH MCHP Microchip Technology Incorporated | $55.7B | 65.7x | -8.5% | -2.2% | Buy | -15.5% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
VICR Dividend and Capital Return
VICR returns 0.3% annually — null% through dividends and 0.3% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.3%
Dividend + buyback return per year
Buyback Yield
0.3%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Annual
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$35M
Estimated Shares Retired
125.5K
Approx. Share Reduction
0.3%
Shares Outstanding
Current diluted share count from the screening snapshot
45M
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2011 | $0.15 | -50.0% | 0.0% | 1.9% |
| 2010 | $0.30 | — | 0.0% | 1.8% |
| 2008 | $0.30 | 0.0% | 0.0% | 5.0% |
| 2007 | $0.30 | +11.1% | 0.0% | 1.9% |
| 2006 | $0.27 | +125.0% | 2.3% | 4.8% |
FAQ
7 questionsVICR Investor Questions
Common questions answered from live analyst data and company financials.
01Is Vicor Corporation (VICR) stock a buy or sell in 2026?
Vicor Corporation (VICR) is rated Buy by Wall Street analysts as of 2026. Of 7 analysts covering the stock, 5 rate it Buy or Strong Buy, 2 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $245, implying -12.6% from the current price of $280.
02What is the VICR stock price target for 2026?
The Wall Street consensus price target for VICR is $245 based on 7 analyst estimates. The high-end target is $245 (-12.6% from today), and the low-end target is $245 (-12.6%). The base case model target is $274.
03Is Vicor Corporation (VICR) stock overvalued in 2026?
VICR trades at 101.2x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals slightly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Vicor Corporation (VICR) stock in 2026?
The primary risks for VICR in 2026 are: (1) AI Export Restrictions — Potential U. (2) Geopolitical Tensions — Escalating global conflicts can destabilize markets and lead to fluctuations in energy prices, which may influence inflation and overall investor sentiment. (3) Increased Competition — Vicor faces heightened competition in the power conversion market from major players like Intel and Texas Instruments. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Vicor Corporation's revenue and earnings forecast?
Analyst consensus estimates VICR will report consensus revenue of $502M (+10.9% year-over-year) and EPS of $2.81 (+9.8% year-over-year) for the upcoming fiscal year. The following year, analysts project $585M in revenue.
06When does Vicor Corporation (VICR) report its next earnings?
A confirmed upcoming earnings date for VICR is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does Vicor Corporation generate?
Vicor Corporation (VICR) generated $119M in free cash flow over the trailing twelve months — a free cash flow margin of 26.3%. VICR returns capital to shareholders through and share repurchases ($35M TTM).