Is the business good?
How good a business is VICR?
Vicor Corporation earns 22% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
22%
Return on invested capital · cost of capital 9.0% · 13 points above what the capital costs: growth creates value
- Operating margin
- 14%
Operating margin · Electronic Components median 9.6% · 12 months to Q1 2026
- Cash conversion
- 0.64×
Cash conversion · 2.05× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +3.9%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 5.9% |
| FY2021 | 15% |
| FY2022 | 6.8% |
| FY2023 | 13% |
| FY2024 | −0.36% |
| FY2025 | 20% |
Details›
- Gross margin12 months to Q1 2026
- 38%
- Operating margin12 months to Q1 2026
- 14%
- Net margin12 months to Q1 2026
- 19%
- Free cash flow margin
- 12%
- R&D as % of revenue
- 11%
- Revenue, trailing twelve months
- $724M
- Free cash flow, trailing twelve months
- $87M
- Net income, trailing twelve months
- $137M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 22%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electronic Components
Ranks #12 of 23 by Smart Score