Vicor Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Dec 2025, Advancedproducts was 55% and Brickproducts was 35% of revenue; 10% was revenue not from contracts with customers, which this breakdown does not split; Brickproducts fell from 45% in the fiscal year to Dec 2023.

Quarters: Vicor Corporation's SEC filings, named by the month they end. Fiscal years: Vicor Corporation's annual reports to the SEC.

How it makes money

Of every $100 in revenue, $26.2 ends up as net income. Net margin rose from 6.4% to 26.2% over the past 3 years.

Circled: Dec 2025 (net 43.4%, operating 14.6%), Jun 2026 (net 34.7%, operating 24.3%). Net margin is usually about 1 point above operating margin; in those quarters something below operating income (a tax charge or benefit, a gain or loss on investments, a write-down) moved it, not the business itself.

Each margin is that line of the income statement divided by revenue. Fiscal year: Vicor Corporation's annual reports to the SEC; quarters: SEC filings.

Customers and suppliers

Vicor's latest annual report names none of its suppliers or customers, but one customer it does not name accounts for 11.1% of its revenue.

Vicor's 10-K for the year to Dec 2025 gives one customer's share of its revenue: Customer One (11.1%).

From Vicor Corporation's 10-Q and 10-K filings (XBRL): each customer whose share of revenue a filing tags, under the filing's own label, so “Customer A” in one filing can be another company in the next; a later filing's figures for a period replace an earlier one's.

Partners

Arrow Electronics ARWAuthorized stocking distributor for Vicor products

Digi-KeyAuthorized stocking distributor for Vicor products

Avnet AVTAuthorized stocking distributor for Vicor products

Mouser ElectronicsAuthorized stocking distributor for Vicor products

Only the companies Vicor names in its 10-K filed Mar 2, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words. Customers it does not name are listed as the filing describes them.

Is it expensive?

P/E of 43.1x, above the peer median of 28.1x, so it needs earnings to keep growing to hold up.

Priced 53% above the peer median of 28.1x.

At 43.1× trailing earnings VICR is below most of its five-year range; the five-year median is 75.3×.

Closing price over diluted earnings per share of the last four reported quarters, as known on each day (a quarter counts 35 days after it ends). From SEC filings; earnings per share adjusted for splits.

What analysts expect

The average analyst price target is $390, 137% above the current price; 100% of 4 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 4 analysts (100%). Sell or Strong Sell: 0.

Since Jun 22, 2026 the average of the analysts' latest price targets went from $408.33 to $391.67 (−4%), while VICR went from $365.53 to $164.69 (−55%). In the past three months targets were raised once and never cut. No firm upgraded or downgraded it over the year.

The day after each of these reports the stock moved +9.3% (Dec 2025, beat); +17.9% (Mar 2026, beat); −5.9% (Jun 2026, beat); +11.9% (Sep 2026, beat).

For the quarter ending Dec 2026, analysts expect adjusted earnings of $1.23 a share, and revenue of $189M, up 76% on a year earlier. For the fiscal year ending Dec 2027, they expect adjusted earnings of $6.07 a share, and revenue of $943M, up 47% on the year before's estimate.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $51M in free cash flow over the year, of which $2.2M went back to shareholders (dividends plus buybacks), leaving $49M in the company.

Vicor had 48M diluted shares in the quarter ended Sep 2026, 6.0% more than a year earlier, and 1.5% more each year on average since Jun 2020. It spent $2.2M on buybacks over the last four quarters. Over the last four quarters its earnings per share rose 108.7% and its net income rose 119.1%: more shares took about 10 points off.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 9.0, no pressure to repay short-term debt; debt-to-equity 0.0, debt is very low and the balance sheet is solid.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 1 member of Congress and 5 funds whose copy leaves VICR out (on the exchange, not in the app yet): Polen Capital Management, Bridgewater Associates, Rob Bresnahan, Swiss National Bank, Maverick Capital, Mirae Asset Global Investments.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 8 held VICR at the end of their latest quarter (for most, Q2 2026). Over that quarter 3 added shares, 2 cut, 3 bought new and 1 sold all. The largest of them is Tudor Investment Corp Et Al, 83,690 shares worth $31.8M at Jun 30, 2026, 39.1% fewer than a quarter earlier.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of VICR at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end.