The TPS61023 uses a quasi-constant 1.0-MHz frequency pulse width modulation (PWM) at moderate to heavy load current. Based on the input voltage to output voltage ratio, a circuit predicts the required on-time. At the beginning of the switching cycle, the NMOS switching FET. The input voltage is applied across the inductor and the inductor current ramps up. In this phase, the output capacitor is discharged by the load current. When the on-time expires, the main switch NMOS FET is turned off, and the rectifier PMOS FET is turned on. The inductor transfers its stored energy to replenish the output capacitor and supply the load. The inductor current declines because the output voltage is higher than the input voltage. When the inductor current hits the valley current threshold determined by the output of the error amplifier, the next switching cycle starts again.

The TPS61023 has a built-in compensation circuit that can accommodate a wide range of input voltage, output voltage, inductor value, and output capacitor value for stable operation.