Pulse width modulation controller apparatus and techniques are presented for balancing output currents of DC-DC converter stages in a multi-stage DC-DC conversion system in which a reference current is provided according to an input voltage and the value of a connected resistor, and a correction current output signal is generated that represents the difference between an average converter stage load current and the local load current, with the on-time of the PWM output signal being generated by charging a capacitance using a charging current obtained by offsetting the reference current output signal with the correction current output signal.