A trans-inductor voltage regulator (TLVR) has regulator blocks and transformers. Secondary windings of the transformers are connected in series with a compensation inductor to form a trans-inductor loop, which is connected to the output voltage of the TLVR instead of to ground. Primary windings of the transformers serve as output inductors of the regulator blocks. The inductance of each output inductor and the output inductance of the TLVR are input to an averaging network of an averaging inductor direct current resistance (DCR) current sense circuit to generate an average sensed voltage. The average sensed voltage is converted to an average sensed current, which is used by a controller to generate control signals that drive the regulator blocks to generate the output voltage of the TLVR.