Pulse width modulation (PWM) controllers for hybrid converters are provided herein. In certain embodiments, a PWM controller for a hybrid converter includes a threshold generation circuit for generating a threshold signal based on an output voltage of the hybrid converter, a threshold adjustment circuit for generating an adjusted threshold signal based on sensing a voltage of a flying capacitor of the hybrid converter, and a comparator that generates a comparison signal based on comparing the adjusted threshold signal to an indication of an inductor current of the hybrid converter. The output of the comparator is used for generating PWM control signals used for turning on and off the switches (for instance, power transistors) of the hybrid converter.