Why Vicor Shares Are Soaring Today

VICR jumped 7.88% after the company reported Q3 2026 revenue of $197.1 million, up 78.5% year over year, with net income of $63.3 million. Both figures beat analyst expectations.

Backlog is the number that supports the move. It reached $406 million, up 166% year over year, which outpaces the 78.5% revenue growth rate. Interpretation: backlog growing at more than twice the pace of revenue suggests the order book is building faster than the company is converting it to sales, though the source does not say what is driving it.

The bull case collides with valuation. Analysts note VICR now trades at 75.8x operating cash flow, more than double its 5-year average of 36.6x. That gap means the stock is pricing in sustained execution well beyond a single strong quarter. Those same analysts suggest investors wait for a pullback rather than chase the print.

Interpretation: a 7.88% single-day gain on top of an already stretched multiple leaves little cushion if growth decelerates or if backlog conversion disappoints.