Vicor Corporation, together with its subsidiaries, 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.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$133.87|
|52 Week High||US$73.71|
|52 Week Low||US$139.01|
|1 Month Change||8.98%|
|3 Month Change||26.60%|
|1 Year Change||71.91%|
|3 Year Change||221.11%|
|5 Year Change||1,056.04%|
|Change since IPO||2,718.32%|
Recent News & Updates
2022, An Inflection Point For Revenues And EPS At Vicor
Q1 2022, additional production capacity of $250,000,000/year comes online. Q1 2022, Vicor’s revenue significantly increases as they are no longer capacity constrained. Q1 2022, the backlog, currently at $210,565,000, guarantees significant revenue growth. Q1 2022, continued GM improvements will drop dollars to the bottom line. Q3 2022, parts start to ship to the automotive market in production quantities.
A Look At The Intrinsic Value Of Vicor Corporation (NASDAQ:VICR)
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Vicor Corporation...
Vicor's Strong Margin Expansion Has Made A Believer Out Of Me
I've been dead-wrong on VICR since my initial Seeking Alpha coverage started in September of last year with a "Neutral" rating. I kept thinking the stock was overvalued and I could wait for a better entry point. There were a couple of opportunities, but I missed them. Vicor manufactures a compelling line of proprietary modular power solutions. Sales have been strong of late. With recent margin expansion, the company itself has become a power-house. Vicor has disrupted the power distribution market, has a strong balance sheet, and a bright future for years to come. It has proven it deserves a premium valuation. As a result of the demonstrated high margins, and the dynamic markets VICR participates in (EVs and HPC - just to name two), I am upgrading the stock to "Bullish".
|VICR||US Electrical||US Market|
Return vs Industry: VICR exceeded the US Electrical industry which returned 49.4% over the past year.
Return vs Market: VICR exceeded the US Market which returned 32.8% over the past year.
Stable Share Price: VICR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: VICR's weekly volatility (4%) has been stable over the past year.
About the Company
Vicor Corporation, together with its subsidiaries, 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.
Vicor Fundamentals Summary
|VICR fundamental statistics|
Is VICR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|VICR income statement (TTM)|
|Cost of Revenue||US$178.22m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.18|
|Net Profit Margin||14.85%|
How did VICR perform over the long term?See historical performance and comparison
Is Vicor undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: VICR ($133.87) is trading above our estimate of fair value ($119.26)
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 (113.4x) compared to the US Electrical industry average (23.4x).
PE vs Market: VICR is poor value based on its PE Ratio (113.4x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: VICR is poor value based on its PEG Ratio (3.9x)
Price to Book Ratio
PB vs Industry: VICR is overvalued based on its PB Ratio (14.9x) compared to the US Electrical industry average (3.1x).
How is Vicor forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VICR's forecast earnings growth (28.8% per year) is above the savings rate (2%).
Earnings vs Market: VICR's earnings (28.8% per year) are forecast to grow faster than the US market (15% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: VICR's revenue (18.4% per year) is forecast to grow faster than the US market (9.8% per year).
High Growth Revenue: VICR's revenue (18.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VICR's Return on Equity is forecast to be high in 3 years time (24%)
How has Vicor performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VICR has high quality earnings.
Growing Profit Margin: VICR's current net profit margins (14.8%) are higher than last year (3.1%).
Past Earnings Growth Analysis
Earnings Trend: VICR has become profitable over the past 5 years, growing earnings by 48.8% per year.
Accelerating Growth: VICR's earnings growth over the past year (529.1%) exceeds its 5-year average (48.8% per year).
Earnings vs Industry: VICR earnings growth over the past year (529.1%) exceeded the Electrical industry 22.9%.
Return on Equity
High ROE: VICR's Return on Equity (13.1%) is considered low.
How is Vicor's financial position?
Financial Position Analysis
Short Term Liabilities: VICR's short term assets ($349.0M) exceed its short term liabilities ($49.8M).
Long Term Liabilities: VICR's short term assets ($349.0M) exceed its long term liabilities ($3.7M).
Debt to Equity History and Analysis
Debt Level: VICR is debt free.
Reducing Debt: VICR has not had any debt for past 5 years.
Debt Coverage: VICR has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: VICR has no debt, therefore coverage of interest payments is not a concern.
What is Vicor current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate VICR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate VICR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if VICR's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if VICR's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: VICR is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of VICR's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Patrizio Vinciarelli (74 yo)
Dr. Patrizio Vinciarelli, Ph.D. founded Vicor Corporation in 1981 and has been its Chairman, Chief Executive Officer, President and Director since 1981. Prior thereto, Dr. Vinciarelli was a Fellow from 197...
CEO Compensation Analysis
Compensation vs Market: Patrizio's total compensation ($USD143.50K) is below average for companies of similar size in the US market ($USD6.38M).
Compensation vs Earnings: Patrizio's compensation has been consistent with company performance over the past year.
Experienced Management: VICR's management team is seasoned and experienced (6.3 years average tenure).
Experienced Board: VICR's board of directors are considered experienced (7.7 years average tenure).
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Vicor Corporation's employee growth, exchange listings and data sources
- Name: Vicor Corporation
- Ticker: VICR
- Exchange: NasdaqGS
- Founded: 1981
- Industry: Electrical Components and Equipment
- Sector: Capital Goods
- Market Cap: US$5.836b
- Shares outstanding: 43.60m
- Website: https://www.vicorpower.com
Number of Employees
- Vicor Corporation
- 25 Frontage Road
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/28 23:16|
|End of Day Share Price||2021/09/28 00:00|
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.