Abstract: A transformer-coupled two-inductor buck converter is provided which comprises a series input circuit including an input inductor, a capacitor and a grounded inductor. The input and grounded inductors are wound so that a source of d.c. input voltage can be connected across positive polarity outer ends thereof. A transformer is provided for coupled the input and output circuits of the converter. When a switching transistor in the input circuit turns on, input current conducting through the input inductor joins with current being dragged out of the grounded inductor and through the capacitor to conduct through the primary winding of the transformer and couple to the secondary winding for delivery as output current to the load. An output winding coupled to the grounded inductor is connected by a switching diode to the load.