Vertiv Holdings Co VRT

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsUnited States of America

Last close 232.50 USD on Nov 1, 2026, +43.6% year to date

Quant rating

Quant rating A Rank 9 of 486 in Industrials

Growth A 29 of 486
Valuation C 265 of 486
Quality A 19 of 486
Revisions A 17 of 486
Momentum B 191 of 486

Wall Street consensus Buy (1.85)Average target 323.21 USD +39.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 89.5B
Enterprise value: 88.7B
52-week range: 147.82 – 379.91
3-year range: 39.75 – 379.91
Dividend yield: 0.11%
Beta (5 years): 2.10
Shares outstanding: 385M
Next earnings: Feb 11, 2027

About the company

Vertiv Holdings Co. provides mission-critical digital infrastructure technologies and lifecycle services primarily for data centers, communication networks, and commercial and industrial environments. The Company operates in three business segments: the Americas; Asia Pacific, and Europe, Middle East & Africa. The Company's offerings include alternate current (AC) and direct current (DC) power management, thermal management, low/medium voltage switchgear, busbar, air cooled and liquid cooled thermal management products, integrated modular solutions, racks, single phase UPS, rack power distribution, rack thermal systems, configurable integrated solutions, energy storage solutions, hardware, software for managing IT equipment, management systems for monitoring and controlling digital infrastructure, and services. It also provides preventative maintenance, acceptance testing, engineering and consulting, remote monitoring, training, spare parts, specialized fluid management, and others.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	10,230	8,012	6,863	5,692	4,998	–
Revenue growth	27.7%	16.7%	20.6%	13.9%	14.4%	18.5%
EPS (basic, normalized)	4.20	2.85	1.77	0.53	0.76	–
EPS growth	47.4%	61.0%	234.0%	−30.3%	–	–
Gross margin	36.3%	36.6%	35.0%	28.4%	30.5%	33.4%
Net margin	13.0%	6.2%	6.7%	1.3%	2.4%	5.9%
ROE	41.8%	22.3%	26.6%	5.4%	12.4%	21.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	3,712
Current ratio	1.39x
Long-term debt (mil)	2,925
Net debt (mil)	−783
Total equity (mil)	5,502
Net debt / equity	−0.14x
Net debt / EBITDA	−0.36x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	10,230	+27.7%	8.7x	2,198	+41.0%	40.4x	4.20	+47.4%	55.4x
2026	14,453	+41.3%	6.1x	3,628	+65.1%	24.5x	7.04	+67.6%	33.0x
2027	19,058	+31.9%	4.7x	5,082	+40.1%	17.5x	9.64	+36.9%	24.1x
2028	23,018	+20.8%	3.9x	6,358	+25.1%	14.0x	12.14	+25.9%	19.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	14,453	+3.0%	+3.5%	+4.2%	7.04	+4.4%	+5.7%	+9.0%
2027	19,058	+4.3%	+5.7%	+8.4%	9.64	+4.4%	+6.9%	+11.2%
2028	23,018	+3.9%	+5.3%	+10.8%	12.14	+4.6%	+6.4%	+12.5%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,639	1,953	2,074	2,346	2,036	2,638	2,676	2,880	2,650	3,274
Sales mean (mil)	1,623	1,939	1,977	2,154	1,939	2,341	2,562	2,882	2,627	3,377
Surprise	+1.0%	+0.7%	+4.9%	+8.9%	+5.0%	+12.7%	+4.4%	−0.1%	+0.9%	−3.0%
EPS reported	0.43	0.67	0.76	0.99	0.64	0.95	1.24	1.36	1.17	1.52
EPS mean	0.36	0.57	0.69	0.82	0.62	0.83	0.99	1.28	1.00	1.42
Surprise	+19.5%	+17.1%	+10.2%	+20.7%	+4.1%	+13.8%	+25.6%	+6.1%	+17.2%	+6.8%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
VRT Vertiv Holdings Co	89.5B	−0.36x	13.0%	16.27x	33.0x	24.1x	24.5x	17.5x
ETN Eaton Corporation PLC	143.7B	2.91x	14.9%	7.09x	27.2x	22.9x	20.9x	17.8x
PH Parker-Hannifin Corporation	113.5B	1.43x	17.0%	7.36x	25.3x	22.8x	17.9x	16.4x
TT Trane Technologies PLC	89.7B	0.70x	13.9%	9.86x	26.8x	23.2x	19.2x	16.7x
JCI Johnson Controls International PLC	90.3B	1.83x	7.3%	6.63x	23.8x	20.0x	17.7x	15.6x
EMR Emerson Electric Co	92.0B	2.13x	12.7%	4.51x	25.1x	22.7x	18.7x	17.4x
Mean		1.44x	13.1%	8.62x	26.9x	22.6x	19.8x	16.9x
Median		1.63x	13.4%	7.23x	26.1x	22.8x	19.0x	17.1x

Technical analysis

1M−4.7%
3M−13.7%
1Y+22.1%
3Y+540.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Vertiv Holdings Co, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	10,230	8,012	6,863	5,692	4,998	4,371
Cost of revenue	6,515	5,078	4,463	4,075	3,475	2,897
Gross profit	3,715	2,934	2,400	1,616	1,523	1,474
Selling, general & administrative expenses	1,613	1,374	1,312	1,178	1,109	1,008
Research & development	–	–	–	–	–	–
Depreciation/amortization	200	184	181	216	144	129
Interest expense (income), operating	91.5	162	197	151	93.8	176
Unusual expense (income)	61.4	7.7	29.1	0.7	−48.7	269
Other operating expenses	7.4	441	147	−97.1	58.1	146
Operating income	1,742	765	534	167	166	−255
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	1,742	765	534	167	166	−255
Provision for taxes	409	270	73.5	90.4	46.6	72.7
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,333	496	460	76.6	120	−327
Extraordinary items	–	–	–	–	–	0
Net income	1,333	496	460	76.6	120	−327
EBIT, normalized	1,895	935	760	319	211	191
EBITDA, normalized	2,203	1,212	1,031	622	438	394
Basic EPS, normalized	4.20	2.85	1.77	0.53	0.76	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Vertiv Holdings Co, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,828	1,228	780	261	439	535
Receivables	3,109	2,363	2,185	1,889	1,536	1,354
Total inventory	1,456	1,244	884	822	616	447
Prepaid expenses	–	–	–	–	–	–
Other current assets	426	267	152	187	107	183
Total current assets	6,820	5,102	4,002	3,159	2,699	2,519
Property, plant & equipment	1,225	827	734	656	642	573
Goodwill	2,034	1,321	1,330	1,285	1,330	607
Intangibles	1,895	1,487	1,673	1,816	2,138	1,302
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	240	395	260	180	131	71.9
Total assets	12,212	9,132	7,998	7,096	6,940	5,074
Liabilities
Accounts payable	1,756	1,316	986	984	858	730
Payable/accrued	–	–	–	–	–	–
Accrued expenses	772	613	612	514	662	666
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	20.9	21.0	21.8	21.8	21.8	22.0
Other current liabilities	1,858	1,147	685	378	312	323
Total current liabilities	4,407	3,097	2,305	1,898	1,855	1,742
Long-term debt	2,892	2,907	2,919	3,169	2,950	2,130
Minority interest	–	–	–	–	–	–
Other liabilities	972	694	759	587	717	690
Total liabilities	8,271	6,698	5,984	5,654	5,522	4,562
Shareholders' equity
Preferred stock	0	–	–	–	–	–
Common stock	0	0	0	0	0	–
Additional paid-in capital	2,895	2,821	2,711	2,631	2,598	1,792
Retained earnings (accumulated deficit)	1,028	−238	−692	−1,143	−1,215	−1,331
Treasury stock	–	–	–	–	–	–
Other equity	18.2	−149	−4.5	−46.2	35.6	51.5
Total equity	3,941	2,434	2,015	1,442	1,418	512
Total liabilities & shareholders' equity	12,212	9,132	7,998	7,096	6,940	5,074

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Vertiv Holdings Co, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,333	496	460	76.6	120	−184
Depreciation, depletion & amortization	309	277	271	302	227	203
Deferred taxes	22.6	−54.5	−132	−8.6	−69.8	−1.4
Non-cash items	51.8	491	191	−71.1	49.0	240
Changes in working capital	398	110	110	−452	−115	−49.0
Cash from operations	2,114	1,319	900	−153	211	209
Investing activities
Capital expenditures	−226	−184	−135	−111	−84.6	−52.7
Other investing cash flows	−1,274	−17.6	−4.5	−1.1	−1,132	7.0
Cash from investing	−1,501	−202	−139	−112	−1,217	−45.7
Financing activities
Financing cash flow items	−11.2	−21.9	−3.3	−118	−21.1	1,402
Cash dividends paid	−66.6	−42.2	−9.5	−3.8	−3.8	−3.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	5.5	−588	−235	222	940	−1,258
Cash from financing	−72.3	−652	−248	100	915	141
Foreign exchange effects	16.9	−21.9	1.5	−9.2	−4.5	5.0
Net change in cash	558	444	515	−174	−95.5	309
Free cash flow	1,887	1,135	766	−264	126	156

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.