VICR
Vicor Corporation

Vicor CorporationVICR

Technology · Electronic Components
191.50USD
-12.92%
Oct 17, 2026
VICR overview ready
Specialized High-Density Power-Delivery Supplier for AI Data Centers
Vicor is a specialized high-density power-conversion and power-delivery supplier for AI servers and data-center infrastructure.
Strong narrative exposure
Exposed to the AI Compute Infrastructure Buildout narrative through AI Data Center Power and Thermal Systems — bottleneck supplier.
Price trend is broken
Longer-term context reads extended trend, with a near-term setup of constructive pullback.
The tactical setup reads constructive pullback, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Unremarkable fundamentals
Primary risk
Cyclical demand fluctuations in electronics markets.
Market Oct 16Filing Jun 30Price action Aug 9

Conviction Level

Theme Heat has no canonical measurement for this company — a research-profile dimension, not an input to this score.

NarrativeHeat—ThemeHeat—PriceAction1.4Valuation3.1CompanyPosition7.3BusinessQuality7.1
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads extended trend, with a near-term setup of constructive pullback.
The tactical setup reads constructive pullback, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$2.3B
Avg Volume (60D)
928.3K
60 sessions
Revenue Growth YoY
+13.5%
FY2025 vs FY2024
Gross Margin
+56.6%
Trailing twelve months
Operating Margin
+18.6%
Trailing twelve months
Free Cash Flow Yield
+2.3%
P/E
15.5x
Market metrics as of Oct 16, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; intrinsic is the dissenting view.
Vicor Corporation has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. It trades at a 2.3% free-cash-flow yield, which requires sustained delivery to be justified.

What changed

  • VICR fell 12.9% in one session
    VICR closed -12.9% while the broad market was close to flat (-1.1%).
    2026-10-16

Company Research

Thesis
Vicor is a specialized high-density power-conversion and power-delivery supplier for AI servers and data-center infrastructure. Its advanced products and vertical power-delivery technology address the conversion, current-density and efficiency constraints between facility/rack power and high-current AI processors.
Opportunity
High opportunity
Hyperscaler and colocation spending on high-density AI data-center electrical and thermal infrastructure, including the power-delivery architectures needed to supply increasingly power-hungry accelerators efficiently.
Key risk
Cyclical demand fluctuations in electronics markets.

Narrative & Theme

AI Compute Infrastructure Buildout
Part of AI Data Center Power and Thermal Systems, with strong fit.
Vicor has a materially more direct AI-infrastructure exposure than its supervised defense placement implies.
Narrative HeatUnavailable
Theme HeatUnavailable

Business & Markets

Technology · Electronic Components
What they do

Vicor Corporation designs, develops, manufactures, and markets modular power components and power systems that convert electrical power for use in various electrically powered devices globally.

How it earns

The company generates revenue primarily through transactional sales of its power components and systems.

Products & services
Brick-format DC-DC converters
AC line rectification and input filtering components
Power factor correction and transient protection components
Electrical and mechanical accessories
Customers & end markets
Electronics manufacturers
Industrial and technology device makers
Market position

Vicor operates as a specialized provider in the modular power components market with a focus on high-performance power conversion.

Demand drivers
Medium cyclicality

Demand is linked to broader electronics and industrial equipment cycles, which can fluctuate with economic conditions.

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