# Vicor Corp (VICR) — Stock CV

Vicor Corp is a $12.2B technology company. Revenue grew 11.7% over the last year, it keeps 31¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 84.5× earnings — around the middle of its own history.

> Vicor Corp manufactures and markets modular power components and complete power systems for converting electrical power. It provides modular power converters and configurable products, power component products and integrated circuits, and related products.

## Identity

- **Ticker**: VICR
- **Sector**: Technology
- **Industry**: Electronic Components, Nec
- **Headquarters**: ANDOVER, MA
- **Employees**: 1 115
- **Website**: https://www.vicorpower.com
- **Market cap**: $12.2B
- **Last price**: $265.50
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $474M
- **Net income**: $145M
- **Free cash flow**: $51.3M
- **Net cash**: $396M
- **P/E**: 84.5
- **Revenue growth (YoY)**: 11.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 10 |
| Growth | 87 |
| Profitability | 90 |
| Health | 50 |
| Quality | 54 |
| Moat | 41 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +11.7% YoY
- [x] Profitable — $145M TTM
- [x] Profit growing — +66.4% YoY
- [x] Generates cash — $51.3M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $12.2B market cap
- [x] Not printing shares — +3.6% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 25/100
- [ ] Valuation not extreme — P/E 84.5

## Experience (career milestones)

- **FY2025** — Best year on record: $119M net income
- **FY2017** — Turned profitable: $167K net income after a loss year

## Strengths

- High gross margin (57.1%)
- Strongly profitable — 30.6% net margin
- Revenue growing 11.7% year over year
- Net cash position after subtracting debt from cash
- High returns on invested capital (ROIC 37.5%)

## Watch-outs

- Thin interest coverage (-29.0×)
- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $359M | $56.6M | $6.68M |
| FY2022 | $399M | $25.4M | -$41.0M |
| FY2023 | $405M | $53.6M | $41.1M |
| FY2024 | $359M | $6.13M | $27.2M |
| FY2025 | $453M | $119M | $119M |

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Source: https://stockcv.com/VICR — derived from company filings; may be delayed or incomplete. Information, not investment advice.