Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Vicor Corporation (VICR) Halal?

PASS

Vicor Corporation · NASDAQ: VICR · Technology

The short answer

Vicor passes all three Shariah gates: it manufactures modular power components (electronics, no haram segments), carries $0 of interest-bearing debt (0.0% of its ~$13.16 billion market cap), and interest income of about 2.98% of revenue is under the 5% ceiling.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Vicor Corporation, founded in 1981 and headquartered in Andover, Massachusetts, designs, develops, manufactures and markets modular power components and power systems for converting electrical power — brick-format DC-DC converters, V-I Chip and ChiP high-density power modules, filters and configurable power systems built around its proprietary Factorized Power Architecture — plus recurring IP royalty revenue ($57,384 thousand in FY2025).

The company is an electronics manufacturer: no interest-based lending, no alcohol, tobacco, gambling, pork or adult content. Its 10-K lists aerospace and defense electronics (satellites, unmanned aerial vehicles, radar, communications) among served markets, alongside data centers (AI accelerators, hyperscalers), automotive, industrial automation and telecommunications. No end-market revenue break-out is disclosed, so the defense portion cannot be quantified — reported here for transparency as incidental, defense-adjacent sales rather than a weapons business. The business passes gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (0.0%, ceiling 33%). Vicor carries no interest-bearing debt. Its FY2025 Form 10-K consolidated balance sheet (December 31, 2025, KPMG-audited) lists no long-term debt, notes payable or drawn credit facilities. Total liabilities of $74,015 thousand are accounts payable ($12,290 thousand), accrued compensation ($12,031 thousand), accrued litigation ($28,275 thousand, SynQor patent case), accrued expenses, sales allowances, lease liabilities ($1,568 thousand current plus $5,608 thousand long-term — operating leases, excluded as they are not interest-bearing debt), income taxes payable and deferred revenue, against total equity of $711,816 thousand.

$0 of interest-bearing debt against a market capitalization of about $13.16 billion (Finnhub, October 2, 2026) is 0.0%, well under the 33% ceiling. Cash and cash equivalents of $402,805 thousand at December 31, 2025 represent about 3.1% of market cap.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (2.98%, ceiling 5%). Vicor's FY2025 Form 10-K separately discloses interest income in Note 14 ("Other income (expense), net"): interest income, net was $12,130 thousand in FY2025 ($11,468 thousand in FY2024; $8,217 thousand in FY2023).

$12,130 thousand against FY2025 total net revenues of $407,701 thousand (product revenue $350,317 thousand plus royalty revenue $57,384 thousand) is about 2.98%, under the 5% ceiling. Counting the one-time $45,000 thousand patent litigation settlement in FY2025 revenue ($452,701 thousand all-in), the ratio would be about 2.68%. Vicor pays no dividends, so the interest income is the relevant purification base.

Key figures used

Frequently asked questions

What does Vicor do?

Vicor Corporation (NASDAQ: VICR) is a power-electronics company founded in 1981 and headquartered in Andover, Massachusetts. Per its FY2025 Form 10-K, it designs, develops, manufactures and markets modular power components and power systems that convert electrical power, including brick-format DC-DC converters, V-I Chip and ChiP high-density power modules, filters and configurable power systems built around its proprietary Factorized Power Architecture. It also licenses intellectual property for recurring royalty revenue. It employs about 1,100 people and manufactures in Andover, Massachusetts, Sunnyvale and Santa Clara, California, and Lombard, Illinois.

Is Vicor's business Shariah compliant?

Vicor runs an electronics manufacturing business - modular power components and power systems - not interest-based lending, and it is not involved in alcohol, tobacco, gambling, pork or adult content. Its 10-K does list aerospace and defense electronics (satellites, unmanned aerial vehicles, radar and communications equipment) among the markets it serves, alongside data centers, automotive, industrial automation and telecommunications. No revenue break-out by end market is disclosed, so the defense portion cannot be quantified - it is disclosed here for transparency as incidental, defense-adjacent sales rather than a weapons business, and the company passes this screener's first gate.

How much interest-bearing debt does Vicor have?

Vicor carries no interest-bearing debt. Its FY2025 Form 10-K consolidated balance sheet (December 31, 2025) lists no long-term debt, notes payable or drawn credit facilities. Total liabilities are $74,015 thousand, consisting of accounts payable, accrued compensation, accrued litigation ($28,275 thousand, related to the SynQor patent case), accrued expenses, sales allowances, lease liabilities ($1,568 thousand current plus $5,608 thousand long-term - operating leases, excluded as they are not interest-bearing debt), income taxes payable and deferred revenue. $0 of interest-bearing debt is 0.0% of market cap, well under the 33% ceiling.

How much interest income does Vicor earn?

Vicor's FY2025 Form 10-K separately discloses interest income in Note 14 ('Other income (expense), net'): interest income, net was $12,130 thousand for FY2025 ($11,468 thousand in FY2024, $8,217 thousand in FY2023). Against FY2025 total net revenues of $407,701 thousand (product revenue $350,317 thousand plus royalty revenue $57,384 thousand), that is about 2.98% - under the 5% non-compliant income ceiling. Counting a one-time $45,000 thousand patent litigation settlement in FY2025 revenue ($452,701 thousand all-in), the ratio would be about 2.68%. Vicor pays no dividends, so the interest income is the relevant purification base.

What do third-party Shariah screeners say about Vicor?

Zoya publishes a Vicor (VICR) page and currently rates the stock Shariah-compliant, citing FY2025 revenue of $407,701,000 and interest income of $12,130,000 (2.98% of the combined total). Musaffa also publishes a VICR page and, as of September 2026, classifies Vicor Corp as halal under its AAOIFI-based Shariah screening methodology. I could not verify a ShariaPortfolio rating page for VICR from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).