Vertiv
What matters nowUpdated 5 h ago
- Vertiv's latest disclosure is an 8-K filed on Sep 24, 2026 under Regulation FD 1, after an 8-K filed on Sep 2, 2026 reporting entry into a material definitive agreement 2.
- VRT trades at a pooled 24/7 venue price of $234.20, down 1.70% from the previous close of $238.25. Shares fell 9.15% on Sep 9, 5.47% on Sep 10 and 5.89% on Sep 14, and rose 4.51% on Sep 3 and 4.14% on Sep 4, the days after the Sep 2 8-K filings.
- Q2 2026 revenue was $3.27B, up 24% year over year ·. Services and spares sales rose 28.6% and product sales rose 23.0% year over year in Q2. Trailing twelve-month revenue is $11.48B, up 26.2%, with a trailing operating margin of 18.9% and a gross margin of 38.0%.
- At a market capitalization of $90.2B, the stock trades on a trailing P/E of 53.0, an EV/EBITDA of 35.2 and a free cash flow yield of 3.25%, with net debt of $129.2M. Insiders sold 15,287 shares worth $3.88M over the last 180 days and bought none.
- Q3 2026 earnings are expected on Oct 28, 2026, not yet confirmed. Company guidance is net sales of $3.65B to $3.85B, adjusted operating margin of 24.0% to 25.0% and adjusted diluted EPS of $1.77 to $1.83. Polymarket odds give an 81.5% chance of no Fed rate change after the October 2026 meeting, against 17.5% for a 25 bp increase.
Vertiv designs and makes the power, cooling and IT infrastructure that keeps data centers, communication networks and commercial and industrial sites running. Its equipment includes UPS and AC/DC power systems, air and liquid cooling, switchgear and busway, prefabricated modular data centers, energy storage and rack-level power and thermal products, backed by a large services and spares business. Demand is driven mainly by AI and cloud data-center buildouts, so the stock trades as a read on hyperscale and colocation capital spending.
How it makes money
Vertiv sells hardware and systems to data center operators, hyperscale cloud providers, colocation companies, communication networks and industrial customers, and books the orders as a multi-quarter backlog. Products make up most of net sales, and services and spares (maintenance, remote monitoring, project management and replacement parts) add recurring revenue. Growth has been strongest in Americas and Asia Pacific, and the company is adding acquired liquid-cooling service capacity after buying PurgeRite in December 2025.
Last 12 monthsChart & venues →
Valuation & fundamentalsFull financials →
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price. Quarterly statements →
Biggest businessesAll products & projects →
Power management
Largest product line; product sales rose 23.0% year over year in Q2 2026.
Thermal management
Air and liquid cooling for high-density AI racks; scaling with capacity expansions.
Integrated modular solutions
Prefabricated power, cooling and switchgear blocks shipped as pre-tested modules.
Energy storage
Battery energy storage sold alongside data-center power systems.
Latest newsAll news →
Vertiv agrees to buy King Environmental Services for European fluid management
Vertiv agreed to acquire King Environmental Services Ltd., a Dublin-area provider of fluid management, commissioning and load-testing services for high-density, liquid-cooled data centers.
Bitzero names Vertiv as technical and supply-chain partner
Bitzero, a Nasdaq-listed operator of HPC and AI data centers, announced a collaboration with Vertiv to strengthen its network of technical, engineering and supply-chain partners.
Vertiv Q2 2026 sales up 24% to $3.27 billion; raises 2026 guidance
Vertiv reported second-quarter 2026 net sales of $3.27 billion, up 24%, with 18% organic growth and an adjusted operating margin of 22.6%.
Vertiv completes ThermoKey acquisition to expand European heat-rejection capacity
Vertiv completed its acquisition of ThermoKey S.p.A., an Italian maker of heat-rejection and heat-exchange equipment such as dry coolers.
Vertiv acquires Strategic Thermal Labs to deepen liquid-cooling engineering
Vertiv acquired Strategic Thermal Labs LLC, a specialist in advanced liquid-cooling technologies.
Vertiv Q1 2026 sales up 30% to $2.65 billion; full-year guidance raised
Vertiv reported first-quarter 2026 net sales of $2.65 billion, up 30%, with 22.6% organic growth.
Products & businesses
Power management
Largest product line; product sales rose 23.0% year over year in Q2 2026.
Thermal management
Air and liquid cooling for high-density AI racks; scaling with capacity expansions.
Integrated modular solutions
Prefabricated power, cooling and switchgear blocks shipped as pre-tested modules.
Energy storage
Battery energy storage sold alongside data-center power systems.
Services and spares
Services and spares sales rose 28.6% year over year in Q2 2026.
Liquid-cooling services (PurgeRite)
PurgeRite acquisition closed December 4, 2025; earn-out tied to future results.
What it's building next
Segments
| Segment | Revenue | Share | |
|---|---|---|---|
| Americas Vertiv's largest region. Most hyperscale and colocation data-center orders and the bulk of 2026 growth come from here. | $6.39B | 62.4% | |
| Asia Pacific Sales in the Asia Pacific region. Demand here is tied to data-center and telecom buildouts across the region. | $2.02B | 19.7% | |
| Europe, Middle East & Africa Sales in Europe, the Middle East and Africa. This is Vertiv's smallest and slowest-growing region in 2026. | $1.82B | 17.8% |
Fiscal 2025 · from the annual report
Valuation & fundamentals
TTM through 2026-06-30 from SEC filings (some quarters derived from annual and year-to-date figures). Ratios use our pooled 24/7 price.
Financial statements
| Metric | TTM | Q2 FY2026 2026-06-30 | Q1 FY2026 2026-03-31 | Q4 FY2025 2025-12-31 | Q3 FY2025 2025-09-30 | Q2 FY2025 2025-06-30 | Q1 FY2025 2025-03-31 | Q4 FY2024 2024-12-31 | Q3 FY2024 2024-09-30 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.48B | $3.27B +24% | $2.65B +30% | $2.88Bd +23% | $2.68B +29% | $2.64B +35% | $2.04B +24% | $2.35Bd +26% | $2.07B +19% |
| Gross profit | $4.37B | $1.23Bd +38% | $999.7Md +46% | $1.12Bd +29% | $1.01Bd +34% | $896.6Md +21% | $686.5Md +21% | $870.2Md +27% | $756.4Md +21% |
| Operating income | $2.17B | $637.9M +44% | $440.1M +51% | $579.9Md +27% | $516.7M +39% | $442.4M +32% | $290.7M +43% | $457.2Md +60% | $371.6M +48% |
| Net income | $1.73B | $497.8M +54% | $390.1M +137% | $445.6Md +203% | $398.5M +126% | $324.2M +82% | $164.5M | $147.0Md -37% | $176.6M +88% |
| EPS (diluted) | $4.42 | $1.27 +53% | $0.99 +136% | $1.14d +200% | $1.02 +122% | $0.83 +80% | $0.42 | $0.38d -37% | $0.46 +92% |
| Operating cash flow | $3.35B | $1.10Bd +241% | $766.8M +153% | $978.9Md +130% | $508.7Md +36% | $322.9Md -15% | $303.3M +121% | $425.2Md +19% | $375.1Md +51% |
| Capital expenditure | $424.4M | $173.3Md +285% | $112.6M +208% | $93.3Md +54% | $45.2M +24% | $45.0M +32% | $36.5M +2% | $60.7Md +27% | $36.4M +37% |
| Share buybacks | — | — | — | $0d | $0d | $0d | $0 -100% | $0d | $0d |
| Cash & equivalents | $2.81B | $2.81B | $2.15B | $1.73B | $1.40B | $1.64B | $1.47B | $1.23B | $908.7M |
| Total debt | $2.94B | $2.94B | $2.92B | $2.91B | $2.92B | $2.92B | $2.93B | $2.93B | $2.93B |
| Shares outstanding | 384.9M | 384.9M | 384.0M | 382.6M | 382.3M | 381.8M | 381.0M | 380.7M | 375.2M |
| Metric | FY2025 2025-12-31 | FY2024 2024-12-31 | FY2023 2023-12-31 | FY2022 2022-12-31 |
|---|---|---|---|---|
| Revenue | $10.23B +28% | $8.01B +17% | $6.86B +21% | $5.69B |
| Cost of revenue | $6.51B +28% | $5.08B +14% | $4.46B +10% | $4.08B |
| Gross profit | $3.72Bd +27% | $2.93Bd +22% | $2.40Bd +49% | $1.62Bd |
| Research & development | $441.7M +20% | $367.6M +21% | $303.5M +8% | $282.0M |
| Operating income | $1.83B +34% | $1.37B +57% | $872.2M +290% | $223.4M |
| EBIT | $1.83B +34% | $1.37B +57% | $872.2M +290% | $223.4M |
| Depreciation & amortization | $308.6M +11% | $277.0M +2% | $271.0M -10% | $302.4M |
| Interest expense | $86.1M -43% | $150.4M -16% | $180.1M +22% | $147.3M |
| Income tax | $409.1M +52% | $269.6M +267% | $73.5M -19% | $90.4M |
| Net income | $1.33B +169% | $495.8M +8% | $460.2M +501% | $76.6M |
| EPS (diluted) | $3.41 +166% | $1.28 +8% | $1.19 | $-0.04 |
| Diluted shares (weighted) | 390.7M | 386.3M | 386.2M | 378.2M |
| Operating cash flow | $2.11B +60% | $1.32B +47% | $900.5M | −$152.8M |
| Capital expenditure | $220.0M +32% | $167.0M +31% | $127.9M +28% | $100.0M |
| Share buybacks | $0 -100% | $599.9M | $0 | $0 |
| Dividends paid | $66.6M +58% | $42.2M +344% | $9.5M +150% | $3.8M |
| Cash & equivalents | $1.73B | $1.23B | $780.4M | $260.6M |
| Long-term debt (incl. current portion) | $2.91B | $2.93B | $2.94B | $3.19B |
| Total debt | $2.91B | $2.93B | $2.94B | $3.19B |
| Total assets | $12.21B | $9.13B | $8.00B | $7.10B |
| Total liabilities | $8.27B | $6.70B | $5.98B | $5.65B |
| Shareholders' equity | $3.94B | $2.43B | $2.01B | $1.44B |
| Shares outstanding | 382.6M | 380.7M | 381.8M | 377.4M |
From XBRL data in SEC filings. Small figures under each value: change vs the same period a year earlier. d = derived (e.g. Q4 = full year − first nine months).
NewsFull archive →
Vertiv agrees to buy King Environmental Services for European fluid management
Vertiv agreed to acquire King Environmental Services Ltd., a Dublin-area provider of fluid management, commissioning and load-testing services for high-density, liquid-cooled data centers.
Bitzero names Vertiv as technical and supply-chain partner
Bitzero, a Nasdaq-listed operator of HPC and AI data centers, announced a collaboration with Vertiv to strengthen its network of technical, engineering and supply-chain partners.
Vertiv Q2 2026 sales up 24% to $3.27 billion; raises 2026 guidance
Vertiv reported second-quarter 2026 net sales of $3.27 billion, up 24%, with 18% organic growth and an adjusted operating margin of 22.6%.
Vertiv completes ThermoKey acquisition to expand European heat-rejection capacity
Vertiv completed its acquisition of ThermoKey S.p.A., an Italian maker of heat-rejection and heat-exchange equipment such as dry coolers.
Vertiv acquires Strategic Thermal Labs to deepen liquid-cooling engineering
Vertiv acquired Strategic Thermal Labs LLC, a specialist in advanced liquid-cooling technologies.
Vertiv Q1 2026 sales up 30% to $2.65 billion; full-year guidance raised
Vertiv reported first-quarter 2026 net sales of $2.65 billion, up 30%, with 22.6% organic growth.
Vertiv and CPower link EnergyCore Grid batteries to a virtual power plant platform
Vertiv and CPower Energy announced a collaboration at Transition-AI 2026 that connects Vertiv's EnergyCore Grid battery system to CPower's virtual power plant platform.
Vertiv buys BMarko Structures to bring data center structural fabrication in-house
Vertiv acquired BMarko Structures LLC, a U.S.
Vertiv to join S&P 500 in March 2026 rebalance
S&P Dow Jones Indices said on March 6, 2026 that Vertiv will join the S&P 500, together with Lumentum, Coherent and EchoStar.
Vertiv closes $2.1 billion senior notes and $2.5 billion revolving credit facility
Vertiv completed a $2.1 billion senior unsecured bond sale in four tranches maturing in 10 to 40 years, its debut offering with an investment-grade rating.
Vertiv Q4 2025: record $15.0 billion backlog and 2026 sales outlook of $13.25-13.75 billion
Vertiv reported fourth-quarter 2025 net sales of $2.88 billion, up 23%, with 19% organic growth.
Vertiv adds MegaMod HDX configurations for dense AI and HPC sites
Vertiv introduced new configurations of its MegaMod HDX prefabricated module, which combines power and liquid cooling for AI and HPC sites in North America and EMEA.
Vertiv reports fiscal Q3 2025 results: revenue $2.68B, up 29% from a year earlier
Vertiv filed a Form 8-K with the SEC on Oct 22, 2025, 6:01 AM ET, reporting an event dated Oct 22, 2025.
SEC filings
| Oct 6, 26 | 4 | Form 4: Resha Michael (EVP. Man, Logistics and Op Ex) — award 3,193 sh | sec.gov ↗ |
| Oct 5, 26 | 3 | Form 3: Initial insider ownership statement | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Gill Stephanie L (Chief Legal Officer & Sec.) — award 6 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Johnson Eric M. (Chief Accounting Officer) — award 1 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Albertazzi Giordano (Chief Executive Officer, Director) — award 13 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Shen Wei (President, Greater China) — award 1 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Poncheri Frank (Chief Human Resources Officer) — award 4 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Armul Scott (Chief Product and Tech Officer) — award 6 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Chamberlin Craig (Chief Financial Officer) — award 1 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Sanghi Anand (Pres. Americas) — award 4 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Ryan Paul (President EMEA) — award 3 sh | sec.gov ↗ |
| Sep 25, 26 | 4 | Form 4: Karlborg Anders (EVP, Man., Logistics and Op Ex) — award 5 sh | sec.gov ↗ |
| Sep 24, 26 | 8-K | 8-K: Regulation FD Disclosure (Item 7.01) | sec.gov ↗ |
| Sep 16, 26 | 4 | Form 4: Poncheri Frank (Chief Human Resources Officer) — tax withholding 2,352 sh | sec.gov ↗ |
| Sep 8, 26 | 4 | Form 4: Albertazzi Giordano (Chief Executive Officer, Director) — gift 118,523 sh | sec.gov ↗ |
| Sep 2, 26 | 4 | Form 4: MONSER EDWARD L (Director) — option exercise 15,287 sh, open-market sale 15,287 sh | sec.gov ↗ |
| Sep 2, 26 | 8-K | 8-K: Material Agreement, Regulation FD Disclosure (Items 1.01, 7.01) | sec.gov ↗ |
| Sep 2, 26 | 8-K | 8-K: Other Events (Item 8.01) | sec.gov ↗ |
| Sep 1, 26 | 144 | Form 144: Notice of proposed insider sale | sec.gov ↗ |
| Jul 29, 26 | 10-Q | 10-Q: Quarterly report for the period ended Jun 30, 2026 | sec.gov ↗ |
| Jul 29, 26 | 8-K | 8-K: Results of Operations, Regulation FD Disclosure (Items 2.02, 7.01) | sec.gov ↗ |
| Jun 26, 26 | 4 | Form 4: Karlborg Anders (EVP, Man., Logistics and Op Ex) — award 4 sh | sec.gov ↗ |
| Jun 26, 26 | 4 | Form 4: Armul Scott (Chief Product and Tech Officer) — award 5 sh | sec.gov ↗ |
| Jun 26, 26 | 4 | Form 4: Sanghi Anand (Pres. Americas) — award 3 sh | sec.gov ↗ |
| Jun 26, 26 | 4 | Form 4: Johnson Eric M. (Chief Accounting Officer) — award 0 sh | sec.gov ↗ |
Insider trades, 12 months
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-01 | MONSER EDWARD L Director | Sale 10b5-1 plan | 15.3K | $253.82 | $3.9M |
| 2026-03-06 | MONSER EDWARD L Director | Sale 10b5-1 plan | 77.3K | $245.49 | $19.0M |
| 2026-02-27 | FRADIN ROGER Director | Sale | 101.7K | $252.13 | $25.6M |
| 2026-02-26 | COTE DAVID M Executive Chairman, Director | Sale | 40.0K | $255.29 | $10.2M |
| 2026-02-26 | DOKKUM JAN VAN Director | Sale | 38.6K | $254.87 | $9.8M |
| 2026-02-26 | FRADIN ROGER Director | Sale | 101.7K | $253.42 | $25.8M |
| 2026-02-26 | Karlborg Anders EVP, Man., Logistics and Op Ex | Sale | 30.5K | $246.92 | $7.5M |
| 2026-02-26 | REINEMUND STEVEN Director | Sale | 100.0K | $253.95 | $25.4M |