The present invention is directed generally to a power supply. According to various embodiments, the power supply includes at least one DC/DC converter. The converter includes a primary switch controlled by a pulse width modulated control signal such that the primary switch is on for a D time period of each switching cycle of the converter and is off for a 1-D time period of each switching cycle. Also, the power supply includes a current sensing element connected in series with the primary switch. In addition, the power supply includes a current limit circuit connected to the current sensing element. The current limit circuit includes a functional circuit having a first input responsive to a first signal whose voltage is proportional to the output current of the converter during the D time period of the switching cycle of the converter. A second input of the functional circuit is responsive to a second signal whose voltage is proportional to the output current of the converter during the 1-D time period of the switching cycle of the converter. In that way, the voltage of the output signal of the functional circuit is proportional to the output inductor current of the converter over both the energy storage phase (the D interval) and the energy deliver phase (the 1-D) interval of the converter.