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Vicor Corporation
$9.0B
Market Cap
42.0
P/E
2.32
PEG
33.3%
ROCE
18.5%
ROE
0.01
D/E
18.1%
OPM
-48.1%
% from 52W High
95
α RS
🔍 VICR is showing a high-conviction setup because it matches 15 of 37 tracked screener presets and RS Rating is 95 (top decile vs market). Net: Partial signal stack, not a recommendation. ? Conviction RS Rating
Sources
Conviction 15/37 · RS Rating 95
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🌏 Global Investor Returns
Currency-adjusted total returns for VICR including FX impact
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📈 Price History
Ratio Health
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By Category
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About

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.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding VICR
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 47.3K $7.6M 0.01% Mar 2026
Steve Cohen Point72 Asset Management 29.1K $4.7M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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🎙 Management Tone Confident Specific ↑ Improving 3 quarters Full tone analysis in Intelligence →
📊 MIXED Vicor Q1 2026 revenue $113M, net income $20.7M, backlog $300.6M, expects Q2 ~$126M, FY ~$570M
Revenue & Profitability
Q1 2026 revenue $113M (up 5.3% QoQ, up 20.2% YoY). Net income $20.7M, GAAP diluted EPS $0.44. Gross margin 55.2% (down 20bp QoQ, up 800bp YoY). Book-to-bill above 2, backlog $300.6M (up 70% QoQ).
Outlook
Management expects strong demand across all segments. Guidance: Q2 2026 revenue nearly $126M, FY2026 revenue nearly $570M, with margin expansion. Guidance assumes no new licensing deals until final ITC determination in 2027. Geopolitical developments support aerospace & defense growth.
Growth Drivers
Key growth levers: steep production ramp of lead computing customer's wafer-scale engine, 2nd generation VPD for AI chips, strong orders in industrial (automated test, semiconductor equipment) and aerospace & defense (increased defense spending). Book-to-bill above 2 indicates strong demand.
Balance Sheet & CapEx
Q1 capEx $12.4M. Construction in progress $10.7M, with $33.9M remaining. A second 3Di line will be installed in Q3/Q4 2026. Capacity at Fab 1 being expanded from $1B to $1.5B annual revenue run rate, using existing building and outsourcing non-critical steps.
Margins
Gross margin 55.2%, up 800bp YoY. Management expects margin expansion with revenue growth. Operating expenses increased due to legal costs. Effective tax rate was -1.3% due to stock option exercises, but normalized rate expected around 20% going forward.
Key Risks
Capacity constraints limit ability to serve all customers. Reliance on licensing outcomes and ITC cases; no new licensing deals assumed until 2027. Legal expenses for IP enforcement may continue. Geopolitical developments could impact supply chain. Potential concentration on lead computing customer.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-21
Q2 2026 saw strong sequential revenue growth, driven by advanced products and new licensing income. Backlog and bookings increased, with robust demand across key markets. Guidance calls for continued revenue and margin expansion, supported by capacity investments and a growing IP licensing practice.
Q1 2026 Q1 2026 2026-04-21
Q1 2026 revenue grew 20% year-over-year with strong gross margin and record backlog, driven by robust demand in AI, industrial, and defense markets. Capacity expansion is underway, but constraints will persist, supporting selective customer engagement and margin growth.
Q4 2025 Q4 2025 2026-02-19
Q4 and full-year 2025 saw strong revenue and profit growth, driven by advanced products and IP licensing, with a $45M patent settlement boosting results. 2026 is expected to bring record bookings and revenues as fab utilization nears capacity and new expansion plans progress.
Q3 2025 Q3 2025 2025-10-21
Q3 2025 saw 18.5% year-over-year revenue growth, strong licensing momentum, and robust cash flow. Advanced product and brick product revenues rose sequentially, while licensing income reached a $90M run rate. Record results are expected for 2025, driven by new product launches and expanding IP deals.
Q2 2025 Q2 2025 2025-07-22
Q2 2025 saw a 50% sequential and 64% year-over-year revenue jump to $141M, driven by product sales and a major patent litigation settlement. Gross margin surged to 65.3%, and net income reached $41.2M. Management expects 2025 to be a record revenue year despite ongoing uncertainty.
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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Information Sources:
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