This chapter discusses principles of steady-state analysis of DC-DC power converters. It introduces inductor volt-second balance and capacitor charge balance, which relate the average inductor voltage and capacitor current to be zero during steady-state. A small ripple approximation is used to simplify analysis by ignoring output voltage ripple. Examples of steady-state analysis of the buck and boost converters are presented using these principles to determine output voltage, inductor current, and capacitor sizing for given ripple levels.