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The paper presents stability analysis of a class of pulse-width modulated (PWM) systems which incorporates many different DC-DC converters. Two types of pulse-width modulation (digital and analog control) are considered. A procedure is developed for systematic search for Lyapunov functions. The state space is partitioned in such a way that stability is verified if a set of coupled linear matrix inequalities (LMIs) is feasible. Global stability is considered as well as the computation of local regions of attraction.