A cascaded step-down DC-DC converter includes capacitive inductance energy storage modules 1 to n, inductors L1 to Ln-1, and a capacitor Co. The capacitive inductance energy storage module j includesa diode Dj_1, a capacitor Cj_1, a diode Dj_2, an electronic switch Sj, and an inductor Lj_1. The electronic switch Sj includes a diode Dj_3, an N-type MOS transistor Mj_1, and a controller j, the value range of j being 1 to n. The converter has the following working characteristics: simple circuit structure, easy expansion, various applicable control methods, high efficiency, continuous input andoutput currents, common ground and consistent polarity of output and input voltages, and output voltage Vo less than or equal to DC power supply voltage Vi.