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This paper presents a current-mode analog multiplier/divider based on current conveyors. The proposed circuit employs only two second-generation current conveyors with controlled current gains (KCCIIs). The circuit is active only; it does not require any external passive element. Then, it is suitable for implementation as integrated circuit. The proposed circuit can perform as either a four-quadrant multiplier or a four-quadrant divider without changing its topology. Simulation results of the circuit show good agreement with theoretical analysis. Applications such as modulator, full-wave rectifier and current amplifier are demonstrated to confirm the versatility of the proposed circuit.