Vicor Corp

Technology
Industrial Machinery/Components
www.vicorpower.com

Earnings Score
Moat Score

Market Cap $2.55B
PE 560
Debt $NaN
Cash $267.61M
EV $NaN
FCF $33.23M

Earnings

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Sales & Net Margins

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Earnings	$4.55M
EBIT	$9.32M
ROE	1%
ROA	1%
FCF	$33.23M
Equity	$554.87M
Growth Stability	86%
PE	559.89
PEG	65.77
PB	4.59
P/FCF	76.68
P/S	7.17
Price/Cash	0.11
Net Margins	-2%
Gross Margins	51%
Op. Margins	3%
Earnings CAGR	22%
Sales Growth YoY	-14%
Sales Growth QoQ	9%
Sales CAGR	9%
FCF CAGR	5%
Equity CAGR	20%
Earnings Stability	0.16
Earnings Growth YoY	-30%

Earnings Growth QoQ	-1K%
Earnings CAGR 5Y	9%
Sales CAGR 5Y	10%
FCF CAGR 5Y	23%
Equity CAGR 5Y	19%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	47%
Equity CAGR 3Y	11%
Market Cap	$2.55B
Revenue	$355.54M
Assets	$632.76M
Cash	$267.61M
Shares Outstanding	44.83M
Earnings Score	10%
Moat Score	20%
Working Capital	380.45M
Current Ratio	6.41
Gross Profit	$180.98M
Shares Growth 3y	2%
Equity Growth QoQ	3%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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Vicor Corp manufactures and markets modular power components and complete power systems. It provides modular power converters and configurable products, advanced power component products and integrated circuits and related products. Its products include Converters, Power Systems, Filters, Custom Power Systems, Input Modules, and others. Geographically, it derives a majority of revenue from the Asia Pacific.

SEC Filings

Direct access to Vicor Corp (VICR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Vicor Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Vicor Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 22%

Stability 16%

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Vicor Corp Discounted Cash Flow

Fully customizable DCF calculator online for Vicor Corp.

Years

Calculation mode

= $483M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$33M	$35M	$37M	$39M	$41M	$43M	$46M	$48M	$51M	$54M	$57M	$565M
DCF		$32M	$31M	$29M	$28M	$27M	$26M	$25M	$24M	$23M	$22M	$218M
Value	$483M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-6%	2%	-3%	0%	11%	5%	6%	16%	6%	13%	-2%
ROA	-	-0%	-4%	-0%	15%	6%	5%	12%	5%	10%	1%
ROE	-	4%	-5%	0%	17%	7%	5%	13%	5%	10%	1%

Bad Net Margins (-1.57%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	100%	100%	100%	86%	100%	86%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Neutral Graham’s Stability (86%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-2%	-9%	14%	28%	-10%	13%	21%	11%	1%	10%
Earnings YoY growth	-	-135%	-227%	-103%	19K%	-56%	27%	216%	-55%	111%	9%
Equity YoY growth	-	4%	-4%	4%	35%	12%	71%	21%	10%	17%	19%
FCF YoY growth	-	-148%	-432%	90%	-220%	-46%	-39%	13%	-714%	-200%	23%