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Charge balance analysis and state transition analysis are presented in analyzing hysteretic voltage mode switching converters working in the steady state. It is shown that the ideal buck converter with a current-sink load can only work in discontinuous conduction mode (DCM) but not in continuous conduction mode (CCM), and the same converter with a resistive load can work in CCM, but the output voltage ripple is very large compared to the hysteresis window. Previously published CCM designs are functional because their operations actually rely on the small but nonzero equivalent series resistance (ESR) of the filtering capacitor. For the CCM buck converter with nonzero ESR, our proposed state transition analysis gives a much more accurate switching frequency than previous approaches. The hysteretic voltage mode boost and buck-boost converters are then analyzed, and shown to have no feasible operating region. Crucial simulation results are presented to confirm the analyses.