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Three recently developed control methods for voltage regulator modules, namely, V2 control, enhanced V2 control, and enhanced V2 control without output voltage dynamic feedback, are analyzed and compared in this paper. All three methods utilize the output voltage switching ripple for pulse-width modulation (PWM), hence, are collectively referred to as ripple-based control. A general modeling method based on the Krylov-Bogoliubov-Mitropolsky ripple estimation technique is applied to develop averaged models for single-channel as well as multichannel buck converters employing each of the control methods. Unlike existing models that are limited to small-signal operation, the proposed models are valid for large-signal operation and are capable of predicting subharmonic instability without including any sample-and-hold block as used in previous models. The paper also shows that adding parallel, high-quality ceramic capacitors at the output, which are ignored in previous models, can lead to pulse skipping and ripple instability, and a solution based on proper selection of the ceramic capacitors and/or ramp compensation at the PWM is presented. The models are further applied to analyze and compare the performance of the three control methods in terms of ripple stability, effective load current feedforward gain, and output impedance.