An output capacitor of a switching converter filters the triangular current waveform output by an inductor. An auxiliary capacitor, having a capacitance that is much smaller than a capacitance of the output capacitor, is coupled in parallel with the output capacitor so as to conduct a portion of the inductor current. A slope detector circuit determines a slope of the auxiliary capacitor current, and outputs a slope signal corresponding to the slope. A process circuit receives the slope signal and a signal corresponding to the inductor current. Since the auxiliary capacitor current slope is known, along with the auxiliary capacitance value and inductor current, the process circuit can derive the value of the output capacitor by applying a scaling factor. The derived value can be used to dynamically tweak the compensation of the feedback loop or identify a failure of the output capacitor.