There are provided low profile inductor and transformer windings, and methods for fabricating the same. An elongate conductive ribbon is wound in one continuous direction on a generally hourglass shaped mandrel to form the ribbon into a double conical helix having a plurality of spaced apart coils. A sheet of dielectric material having an orifice therethrough is threaded to the midpoint of the double conical helix. The two sides of the helix are then compressed into planes such that the coils in each side lie flat and engage the adjacent side of the sheet of dielectric material. A compound inductor winding can be fabricated from a continuous conductive ribbon wound into a plurality of double conical helixes joined end-to-end. After compression, the compound winding consists of a low profile stack of spiraled windings connected in series, but constituting only one continuous ribbon having no internal connections.