The flyback converter is one of the most attractive isolated converters in small power applications because of its simple structure. However, it suffers from high device stress, large transformer size, and high voltage stress across switch and diode. To solve these problems a new cost-effective PWM single-switch isolated converter is proposed. The proposed converter has no output filter inductor, reduced voltage stress on the secondary devices, and reduced transformer size. Moreover, the switch turnoff loss is reduced and no dissipative snubber across the secondary diode is required. Therefore, it features a simple structure, low cost, and high efficiency. The operational principle and characteristics of proposed converter are presented compared with flyback converter and verified experimentally.