Loading…
Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power for use in electrically powered devices in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components that provide AC line rectification, input filtering, power factor correction, and transient protection; and input and output voltage, and output power products, as well as sells electrical and mechanical accessories. It also designs, sells, and services custom power system solutions. It serves independent manufacturers of electronic devices, original equipment manufacturers, original design manufacturers, and their contract manufacturers in the aerospace and aviation, defense electronics, satellites, factory automation, instrumentation, test equipment, transportation, telecommunications and networking infrastructure, and vehicle markets. Vicor Corporation was incorporated in 1981 and is headquartered in Andover, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $453M | $103M | $119M | $119M | 16.7% | 26.1% | 1834.3% |
| 2024 | $359M | $37M | $6M | $27M | 1.1% | -11.4% | -88.6% |
| 2023 | $405M | $69M | $54M | $41M | 9.9% | 1.5% | 110.6% |
| 2022 | $399M | $47M | $25M | $-41M | 5.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 399.08 | 405.06 | 359.06 | 452.70 |
| Operating Revenue | - | 399.08 | 405.06 | 359.06 | 407.70 |
| Cost Of Revenue | - | 218.52 | 200.13 | 175.06 | 193.27 |
| Gross Profit | - | 180.56 | 204.93 | 184 | 259.43 |
| Operating Expense | - | 146.86 | 153.57 | 165.81 | 177.60 |
| Research And Development | - | 60.59 | 67.86 | 68.92 | 78.57 |
| Selling General And Administration | - | 86.26 | 85.71 | 96.89 | 99.03 |
| Total Expenses | - | 365.38 | 353.70 | 340.87 | 370.87 |
| Operating Income | - | 33.70 | 51.36 | 18.19 | 81.83 |
| Total Operating Income As Reported | - | 27.20 | 51.36 | -1.31 | 81.83 |
| EBITDA | - | 47.48 | 68.60 | 36.82 | 102.61 |
| Normalized EBITDA | - | 54.63 | 68.75 | 56.96 | 103.15 |
| EBIT | - | 33.70 | 51.36 | 18.19 | 81.83 |
| Interest Income | - | 1.31 | 8.22 | 11.47 | 12.13 |
| Net Interest Income | - | 1.31 | 8.22 | 11.47 | 12.13 |
| Other Non Operating Income Expenses | - | 0.83 | 0.82 | 0.98 | 1.15 |
| Other Income Expense | - | -6.32 | 0.67 | -19.17 | 0.61 |
| Interest Income Non Operating | - | 1.31 | 8.22 | 11.47 | 12.13 |
| Net Non Operating Interest Income Expense | - | 1.31 | 8.22 | 11.47 | 12.13 |
| Pretax Income | - | 28.69 | 60.24 | 10.49 | 94.57 |
| Tax Provision | - | 3.26 | 6.64 | 4.35 | -24.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.81 | -0.02 | -4.23 | -0.11 |
| Net Income Continuous Operations | - | 25.43 | 53.60 | 6.14 | 118.60 |
| Net Income From Continuing And Discontinued Operation | - | 25.45 | 53.60 | 6.13 | 118.56 |
| Net Income From Continuing Operation Net Minority Interest | - | 25.45 | 53.60 | 6.13 | 118.56 |
| Net Income | - | 25.45 | 53.60 | 6.13 | 118.56 |
| Net Income Common Stockholders | - | 25.45 | 53.60 | 6.13 | 118.56 |
| Net Income Including Noncontrolling Interests | - | 25.43 | 53.60 | 6.14 | 118.60 |
| Normalized Income | - | 31.78 | 53.73 | 22.05 | 118.98 |
| Diluted NI Availto Com Stockholders | - | 25.45 | 53.60 | 6.13 | 118.56 |
| Basic Average Shares | - | 44 | 44.32 | 44.91 | 45.04 |
| Diluted Average Shares | - | 44.89 | 45 | 45.17 | 45.45 |
| Reconciled Depreciation | - | 13.78 | 17.24 | 18.63 | 20.79 |
| Reconciled Cost Of Revenue | - | 218.52 | 200.13 | 175.06 | 193.27 |
| Total Unusual Items | - | -7.15 | -0.15 | -20.15 | -0.54 |
| Total Unusual Items Excluding Goodwill | - | -7.15 | -0.15 | -20.15 | -0.54 |
| Minority Interests | - | 0.02 | 0 | -0.01 | -0.04 |
| Special Income Charges | - | -6.50 | 0.01 | -19.53 | -0.85 |
| Other Special Charges | - | 6.50 | - | 19.50 | - |
| Gain On Sale Of Security | - | -0.65 | -0.16 | -0.62 | 0.31 |
| Gain On Sale Of Ppe | -0.07 | - | 0.01 | -0.03 | -0.85 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vicor Corporationthis co. | VICR | $14.0B | 117.69 | 19.61 | 16.7% | 132.12 |
| DigitalOcean Holdings, Inc. | DOCN | $18.8B | 72.66 | -656.60 | -903.7% | 55.75 |
| SiTime Corporation | SITM | $18.7B | -434.98 | 16.14 | -3.7% | -922.21 |
| Rambus Inc. | RMBS | $18.3B | 79.46 | 13.42 | 16.9% | 55.81 |
| Applied Optoelectronics, Inc. | AAOI | $16.3B | -425.88 |
| - |
| - |
| - |
| - |
| - |
| 22.18 |
| -5.2% |
| -1052.31 |
| Applied Digital Corporation | APLD | $12.6B | -54.60 | 25.35 | -46.4% | -291.51 |
| Cipher Digital Inc. | CIFR | $10.5B | - | 12.97 | -102.1% | - |
| D-Wave Quantum Inc. | QBTS | $10.2B | -28.84 | 12.01 | -41.7% | -27.66 |
| Core Scientific, Inc. | CORZ | $8.9B | -30.74 | -9.22 | 30.0% | -67.35 |
| Peer Median | - | -30.74 | 13.20 | -23.4% | -67.35 | |