A power converter and method to provide a small conversion ratio between an input and an output voltage. The power converter has an inductor coupled to the input port of the power converter. The power converter has a first stage with an input node; a first switch; a second switch; a third switch coupled to the second switch of the first stage and to a reference potential; and a flying capacitor coupled to the input node. The power converter also has a second stage with an input node; a first switch coupled to the input node of the second stage and to the output port of the power converter; a second switch coupled to the input node of the first stage; a third switch coupled to the second switch of the second stage and to the reference potential; and a flying capacitor coupled to the inductor.