Vertiv Holdings Co

VRT · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Valuation
Market cap	$61,943	$42,642	$18,321	$5,154	$9,381	$7,014	$1,304	$845	–	–
Enterprise value	$63,343	$44,560	$20,667	$8,261	$12,071	$8,781	$4,661	$4,272	–	–
P/E (TTM) at period end	46.48×	86.01×	39.81×	–	78.43×	–	–	–	–	–
P/S (TTM) at period end	6.06×	5.32×	2.67×	0.91×	1.88×	1.60×	–	–	–	–
P/B at period end	15.72×	17.52×	9.09×	3.57×	6.62×	13.70×	–	–	–	–
EV / EBITDA (TTM)	32.87×	30.75×	21.83×	27.97×	36.69×	32.07×	17.71×	18.20×	–	–
EV / Sales (TTM)	6.19×	5.56×	3.01×	1.45×	2.42×	2.01×	–	–	–	–
Returns
Return on equity	33.8%	20.4%	22.8%	(1.0%)	8.4%	(63.9%)	–	–	–	(1213.7%)
Return on invested capital	25.7%	20.4%	17.2%	2.3%	4.6%	9.4%	7.8%	0.6%	–	(0.0%)
Dividend yield	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	–	–	–	–
Financial health
Current ratio	1.55×	1.65×	1.74×	1.66×	1.45×	1.45×	1.33×	1.30×	19.59×	–
Debt / equity	0.74×	1.20×	1.46×	2.21×	2.10×	4.20×	(4.92×)	(6.34×)	–	–
Effective tax rate	23.5%	35.2%	13.8%	54.1%	28.0%	(28.6%)	(35.0%)	(18.4%)	4.8%	55.9%
Share count
Diluted shares outstanding	391	386	386	378	360	307	118	118	86	69

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Revenue and gross profit
Revenue	$11,480	$10,230	$8,012	$6,863	$5,692	$4,998	$4,371	–	–	–	$3,944
Cost of revenue	($7,113)	($6,515)	($5,078)	($4,463)	($4,075)	($3,475)	($2,897)	($2,978)	($2,865)	($2,567)	($2,533)
Gross profit	$4,367	$3,715	$2,934	$2,400	$1,616	$1,523	$1,474	($2,978)	($2,865)	($2,567)	$1,411
Operating expenses
Research and development	–	($442)	($368)	($304)	($282)	($266)	($229)	($229)	($198)	($166)	($129)
Selling, general and administrative	($1,827)	($1,618)	($1,374)	($1,312)	($1,178)	($1,109)	($1,008)	($1,101)	($1)	($1,086)	($0)
Total operating expenses	($2,192)	($1,886)	($1,567)	($1,528)	($1,393)	($1,263)	($1,260)	$3,184	$2,883	$2,627	($1,411)
Total costs and expenses	($9,305)	($8,400)	($6,644)	($5,991)	($5,468)	($4,738)	($4,157)	$206	$18	$60	($3,944)
Operating income	$2,175	$1,830	$1,367	$872	$223	$260	$214	$206	$18	$60	($0)
Earnings
EBITDA	$2,292	$1,927	$1,449	$946	$295	$329	$274	$263	$235	$456	$160
Interest income	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($61)	($86)	($150)	($180)	($147)	($91)	($150)	($310)	($289)	–	–
Pre-tax income	$2,114	$1,742	$765	$534	$167	$166	($255)	($104)	($271)	($407)	$251
Income tax expense	($382)	($409)	($270)	($74)	($90)	($47)	($73)	($36)	($50)	$20	($140)
Net income	$1,732	$1,333	$496	$460	$77	$120	($327)	($141)	($314)	($370)	($0)
Per share
Diluted EPS (GAAP)	$4.42	$3.41	$1.28	$1.19	($0.04)	$0.33	($1.07)	($1.19)	($2.65)	–	($0.0044)
Basic EPS (GAAP)	$4.52	$3.49	$1.32	$1.21	$0.20	$0.34	($1.07)	($1.19)	($2.65)	–	($0.0044)
Basic shares outstanding	383	382	376	380	377	356	307	118	118	86	69
Margins
Gross margin	38.0%	36.3%	36.6%	35.0%	28.4%	30.5%	33.7%	–	–	–	35.8%
Operating margin	18.9%	17.9%	17.1%	12.7%	3.9%	5.2%	4.9%	–	–	–	(0.0%)
Net margin	15.1%	13.0%	6.2%	6.7%	1.3%	2.4%	(7.5%)	–	–	–	(0.0%)

Analyst consensus

Buy21 analysts

Bearish · 1 · Hold · 1 · Bullish · 19

Earnings history

	EPS	Estimate
Q3 2024	$0.76	$0.69	Beat
Q4 2024	$0.99	$0.82	Beat
Q1 2025	$0.64	$0.61	Beat
Q2 2025	$0.95	$0.83	Beat
Q3 2025	$1.24	$0.98	Beat
Q4 2025	$1.36	$1.29	Beat
Q1 2026	$1.17	$1.00	Beat
Q2 2026	$1.52	$1.42	Beat

Peers

Company overview

IPO dateAug 2, 2018

CEOGiordano Albertazzi

Employees34,000

SectorIndustrials

IndustryElectrical Equipment & Parts

CountryUS

ExchangeNew York Stock Exchange

Websitewww.vertiv.com

Vertiv Holdings Co, headquartered in Columbus, Ohio, is a global provider of essential digital infrastructure technologies and comprehensive lifecycle services. The company specializes in the design, manufacturing, and servicing of critical systems vital for data centers, communication networks, and diverse commercial and industrial applications. Its extensive product range encompasses AC and DC power management, thermal control solutions, integrated rack systems, modular designs, and sophisticated management platforms for monitoring and governing digital environments. These solutions are fundamental to the operation of numerous modern services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, the Internet of Things, and online gaming. In addition to its hardware offerings, Vertiv delivers a full spectrum of lifecycle management services. These include professional deployment, ongoing maintenance, and optimization, supported by predictive analytics. Specific service capabilities extend to preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring, training, spare parts, and specialized critical digital infrastructure software. Vertiv's products are marketed under prominent brands like Liebert, NetSure, Geist, E&I, Powerbar, and Avocent. The company serves a wide array of sectors such as social media, financial services, healthcare, transportation, retail, education, and government. Its global reach spans the Americas, Asia Pacific, and Europe, the Middle East, and Africa, facilitated by a robust network of direct sales professionals, independent representatives, channel partners, and original equipment manufacturers.

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