NasdaqGS:VICR

Stock Analysis Report

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Executive Summary

Vicor Corporation designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally.


Snowflake Analysis

Flawless balance sheet with high growth potential.


Similar Companies

Share Price & News

How has Vicor's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VICR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.3%

VICR

3.7%

US Electrical

1.5%

US Market


1 Year Return

141.4%

VICR

6.8%

US Electrical

6.9%

US Market

Return vs Industry: VICR exceeded the US Electrical industry which returned 3.7% over the past year.

Return vs Market: VICR exceeded the US Market which returned 5.3% over the past year.


Shareholder returns

VICRIndustryMarket
7 Day3.3%3.7%1.5%
30 Day16.1%6.9%5.9%
90 Day85.8%30.0%17.9%
1 Year141.4%141.4%9.1%6.8%9.2%6.9%
3 Year292.0%292.0%22.1%15.0%36.4%27.5%
5 Year577.4%577.4%16.5%7.4%64.9%47.0%

Price Volatility Vs. Market

How volatile is Vicor's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Vicor undervalued compared to its fair value and its price relative to the market?

378.74x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: VICR ($75.66) is trading above our estimate of fair value ($0.69)

Significantly Below Fair Value: VICR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: VICR is poor value based on its PE Ratio (378.7x) compared to the US Electrical industry average (17.2x).

PE vs Market: VICR is poor value based on its PE Ratio (378.7x) compared to the US market (16.1x).


Price to Earnings Growth Ratio

PEG Ratio: VICR is poor value based on its PEG Ratio (7.3x)


Price to Book Ratio

PB vs Industry: VICR is overvalued based on its PB Ratio (14.9x) compared to the US Electrical industry average (2.3x).


Next Steps

Future Growth

How is Vicor forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

52.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VICR's forecast earnings growth (52% per year) is above the savings rate (2.2%).

Earnings vs Market: VICR's earnings (52% per year) are forecast to grow faster than the US market (22.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VICR's revenue (20.2% per year) is forecast to grow faster than the US market (9.2% per year).

High Growth Revenue: VICR's revenue (20.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VICR's Return on Equity is forecast to be low in 3 years time (19.8%).


Next Steps

Past Performance

How has Vicor performed over the past 5 years?

54.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VICR has high quality earnings.

Growing Profit Margin: VICR's current net profit margins (3.1%) are lower than last year (11%).


Past Earnings Growth Analysis

Earnings Trend: VICR has become profitable over the past 5 years, growing earnings by 54.4% per year.

Accelerating Growth: VICR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: VICR had negative earnings growth (-74.8%) over the past year, making it difficult to compare to the Electrical industry average (-20.9%).


Return on Equity

High ROE: VICR's Return on Equity (3.9%) is considered low.


Next Steps

Financial Health

How is Vicor's financial position?


Financial Position Analysis

Short Term Liabilities: VICR's short term assets ($185.2M) exceed its short term liabilities ($35.2M).

Long Term Liabilities: VICR's short term assets ($185.2M) exceed its long term liabilities ($4.5M).


Debt to Equity History and Analysis

Debt Level: VICR is debt free.

Reducing Debt: VICR has not had any debt for past 5 years.

Debt Coverage: VICR has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: VICR has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Vicor current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate VICR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate VICR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VICR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VICR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: VICR is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VICR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.3yrs

Average management tenure


CEO

Patrizio Vinciarelli (73yo)

39.5yrs

Tenure

US$450,964

Compensation

Dr. Patrizio Vinciarelli, Ph.D. founded Vicor Corporation in 1981 and has been its Chairman, Chief Executive Officer, President and Director since 1981. Prior thereto, Dr. Vinciarelli was a Fellow from 197 ...


CEO Compensation Analysis

Compensation vs Market: Patrizio's total compensation ($USD450.96K) is below average for companies of similar size in the US market ($USD5.85M).

Compensation vs Earnings: Patrizio's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Patrizio Vinciarelli
Founder39.5yrsUS$450.96k49.25% $1.6b
James Simms
CFO, Corporate VP12.25yrsUS$435.36k0.14% $4.4m
Michael McNamara
Corporate VP1.08yrsUS$23.28k0.00031% $10.0k
Robert Gendron
Corporate Vice President of Product Marketing & Technical Resources3.25yrsUS$557.08k0.023% $733.0k
Philip Davies
Corporate VP of Global Sales & Marketing and Director1.08yrsUS$663.58kno data
Claudio Tuozzolo
Corporate VP & Director13.5yrsUS$451.03k0.11% $3.6m
Richard Nagel
Chief Accounting Officer & Corporate VP14.17yrsUS$210.38kno data
Joseph Jeffery
Chief Information Officer & Corporate VP4.83yrsno data0.0083% $268.6k
Nancy Grava
Corporate Vice President of Human Resources5yrsno datano data
Kemble Morrison
VP & Corporate Controller12.92yrsno datano data
Patrick Wadden
Vice President of Global Automotive Business Development1.75yrsno datano data

7.3yrs

Average Tenure

60yo

Average Age

Experienced Management: VICR's management team is seasoned and experienced (7.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Patrizio Vinciarelli
Founder39.5yrsUS$450.96k49.25% $1.6b
James Simms
CFO, Corporate VP12.25yrsUS$435.36k0.14% $4.4m
Michael McNamara
Corporate VP1.08yrsUS$23.28k0.00031% $10.0k
Philip Davies
Corporate VP of Global Sales & Marketing and Director1.08yrsUS$663.58kno data
Claudio Tuozzolo
Corporate VP & Director13.5yrsUS$451.03k0.11% $3.6m
Samuel Anderson
Independent Director19.5yrsUS$58.28k0.013% $427.6k
Jason Carlson
Independent Director11.92yrsUS$63.28kno data
Estia Eichten
Independent Director39.5yrsUS$58.28k2.26% $72.9m

12.9yrs

Average Tenure

60yo

Average Age

Experienced Board: VICR's board of directors are seasoned and experienced ( 12.9 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: VICR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.1%.


Top Shareholders

Company Information

Vicor Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Vicor Corporation
  • Ticker: VICR
  • Exchange: NasdaqGS
  • Founded: 1981
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: US$3.232b
  • Shares outstanding: 42.72m
  • Website: https://www.vicorpower.com

Number of Employees


Location

  • Vicor Corporation
  • 25 Frontage Road
  • Andover
  • Massachusetts
  • 1810
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VICRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 1990
VCVDB (Deutsche Boerse AG)YesCommon StockDEEURApr 1990

Biography

Vicor Corporation designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. The company offers a range of brick-format DC-DC converters; complementary components; and input and output voltage, and output power products, as well as electrical and mechanical accessories. It also provides custom power systems solutions. The company serves independent manufacturers of electronic devices, original equipment manufacturers, and their contract manufacturers in the aerospace and aviation, defense electronics, industrial automation and equipment, instrumentation, test equipment, solid state lighting, telecommunications and networking infrastructure, and vehicles and transportation markets. Vicor Corporation was founded in 1981 and is headquartered in Andover, Massachusetts. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/14 23:56
End of Day Share Price2020/07/14 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.