NYSE : VRT
Vertiv Holdings Co — Financial statements
Industrials · Electrical Equipment & Parts · United States
Last price 232.5 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 89.53B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Vertiv Holdings Co (VRT) reported revenue of 13.12B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 13.12B | 10.23B | 8.01B | 6.86B | 5.69B | 5.00B |
| Cost of Revenue | 8.12B | 6.51B | 5.08B | 4.46B | 4.08B | 3.48B |
| Gross Profit | 5.00B | 3.72B | 2.93B | 2.40B | 1.62B | 1.52B |
| Selling, General & Admin | 1.97B | 1.62B | 1.37B | 1.31B | 1.18B | 1.11B |
| Amortization of Goodwill & Intangibles | 275.90M | 200.40M | 184.20M | 181.30M | 215.80M | 144.30M |
| Other Operating Expenses | -14.60M | -2.10M | -8.50M | -10.70M | -5.40M | -3.80M |
| Operating Expenses | 2.23B | 1.82B | 1.55B | 1.48B | 1.39B | 1.25B |
| Operating Income | 2.77B | 1.90B | 1.38B | 917.60M | 227.40M | 273.20M |
| Interest Expense | -36.10M | -86.10M | -150.40M | -180.10M | -147.30M | -90.60M |
| Currency Exchange Gain (Loss) | -18.50M | -14.90M | -11.80M | -16.80M | -3.30M | -3.20M |
| Other Non Operating Income (Expenses) | -1.20M | -449.20M | -157.90M | 90.90M | -2.70M | |
| EBT Excluding Unusual Items | 2.71B | 1.80B | 773.10M | 562.80M | 167.70M | 176.70M |
| Merger & Restructuring Charges | -12.20M | -54.50M | -5.30M | -28.60M | -700.00K | -1.40M |
| Asset Writedown | -8.70M | |||||
| Other Unusual Items | -102.30M | -1.70M | -2.40M | -500.00K | -400.00K | |
| Pretax Income | 2.62B | 1.74B | 765.40M | 533.70M | 167.00M | 166.20M |
| Income Tax Expense | 518.30M | 409.10M | 269.60M | 73.50M | 90.40M | 46.60M |
| Earnings From Continuing Operations | 2.10B | 1.33B | 495.80M | 460.20M | 76.60M | 119.60M |
| Net Income | 2.10B | 1.33B | 495.80M | 460.20M | 76.60M | 119.60M |
| Net Income to Common | 2.10B | 1.33B | 495.80M | 460.20M | 76.60M | 119.60M |
| Shares Outstanding (Basic) | 383.74M | 381.71M | 376.42M | 380.14M | 376.73M | 355.54M |
| Shares Outstanding (Diluted) | 392.44M | 390.65M | 386.33M | 386.23M | 378.22M | 360.14M |
| EPS (Basic) | 5.47 | 3.49 | 1.32 | 1.21 | 0.20 | 0.34 |
| EPS (Diluted) | 5.35 | 3.41 | 1.28 | 1.19 | -0.04 | 0.33 |
| Free Cash Flow | 3.15B | 1.89B | 1.15B | 772.60M | -252.80M | 137.50M |
| Free Cash Flow Per Share | 8.02 | 4.85 | 2.98 | 2.00 | -0.67 | 0.38 |
| Dividend Per Share | 0.20 | 0.17 | 0.11 | 0.03 | 0.01 | 0.01 |
| Gross Margin | 38.12% | 36.32% | 36.62% | 34.98% | 28.39% | 30.47% |
| Operating Margin | 21.11% | 18.56% | 17.28% | 13.37% | 4.00% | 5.47% |
| Profit Margin | 16.00% | 13.03% | 6.19% | 6.71% | 1.35% | 2.39% |
| Free Cash Flow Margin | 23.99% | 18.51% | 14.38% | 11.26% | -4.44% | 2.75% |
| EBITDA | 3.19B | 2.21B | 1.66B | 1.19B | 529.80M | 500.20M |
| EBITDA Margin | 24.31% | 21.58% | 20.74% | 17.32% | 9.31% | 10.01% |
| D&A For EBITDA | 419.70M | 308.60M | 277.00M | 271.00M | 302.40M | 227.00M |
| EBIT | 2.77B | 1.90B | 1.38B | 917.60M | 227.40M | 273.20M |
| EBIT Margin | 21.11% | 18.56% | 17.28% | 13.37% | 4.00% | 5.47% |
| Effective Tax Rate | 19.81% | 23.49% | 35.22% | 13.77% | 54.13% | 28.04% |
| Revenue as Reported | 13.12B | 10.23B | 8.01B | 6.86B | 5.69B | 5.00B |
| Advertising Expenses | 16.80M | 19.40M | 20.10M | 20.60M | 26.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.51B | 1.73B | 1.23B | 780.40M | 260.60M | 439.10M |
| Short-Term Investments | 198.80M | 99.50M | ||||
| Trading Asset Securities | 23.40M | 30.30M | 36.40M | 36.90M | ||
| Cash & Short-Term Investments | 3.71B | 1.85B | 1.26B | 816.80M | 297.50M | 439.10M |
| Receivables | 4.38B | 3.11B | 2.36B | 2.12B | 1.89B | 1.54B |
| Inventory | 3.29B | 1.46B | 1.24B | 884.30M | 822.00M | 616.30M |
| Restricted Cash | 70.30M | 61.40M | 4.60M | 8.20M | 12.60M | 8.00M |
| Other Current Assets | 673.20M | 341.30M | 232.20M | 174.10M | 137.80M | 98.80M |
| Total Current Assets | 12.12B | 6.82B | 5.10B | 4.00B | 3.16B | 2.70B |
| Property, Plant & Equipment | 1.74B | 1.22B | 827.20M | 733.60M | 655.80M | 642.20M |
| Long-Term Investments | 4.80M | 33.30M | 44.50M | 73.30M | 16.10M | |
| Goodwill | 2.28B | 2.03B | 1.32B | 1.33B | 1.28B | 1.33B |
| Other Intangible Assets | 1.74B | 1.89B | 1.49B | 1.67B | 1.82B | 2.14B |
| Long-Term Deferred Tax Assets | 171.90M | 179.60M | 303.30M | 159.80M | 46.40M | 47.90M |
| Other Long-Term Assets | 123.90M | 55.20M | 58.70M | 55.90M | 60.70M | 66.50M |
| Total Assets | 18.17B | 12.21B | 9.13B | 8.00B | 7.10B | 6.94B |
| Accounts Payable | 3.24B | 1.76B | 1.32B | 986.40M | 984.00M | 858.50M |
| Accrued Expenses | 219.20M | 173.20M | 147.80M | 165.40M | 132.60M | 125.80M |
| Current Portion of Long-Term Debt | 3.40M | 20.90M | 21.00M | 21.80M | 21.80M | 29.20M |
| Current Portion of Leases | 88.70M | 69.70M | 45.70M | 42.90M | 45.20M | 42.10M |
| Current Income Taxes Payable | 145.80M | 43.40M | 83.70M | 46.50M | 19.70M | 21.10M |
| Current Unearned Revenue | 4.12B | 1.81B | 1.06B | 638.90M | 358.70M | 291.00M |
| Other Current Liabilities | 888.40M | 528.70M | 419.10M | 403.50M | 335.90M | 487.10M |
| Total Current Liabilities | 8.71B | 4.41B | 3.10B | 2.31B | 1.90B | 1.85B |
| Long-Term Debt | 2.93B | 2.89B | 2.91B | 2.92B | 3.17B | 2.95B |
| Long-Term Leases | 339.70M | 245.20M | 171.40M | 142.60M | 132.00M | 115.50M |
| Long-Term Unearned Revenue | 125.20M | 107.60M | 91.30M | 61.80M | 49.50M | 59.90M |
| Long-Term Deferred Tax Liabilities | 248.50M | 232.80M | 240.30M | 159.50M | 176.50M | 198.80M |
| Other Long-Term Liabilities | 323.30M | 386.40M | 191.00M | 395.20M | 228.80M | 342.40M |
| Total Liabilities | 12.67B | 8.27B | 6.70B | 5.98B | 5.65B | 5.52B |
| Additional Paid-In Capital | 2.97B | 2.90B | 2.82B | 2.71B | 2.63B | 2.60B |
| Retained Earnings | 2.61B | 1.03B | -238.30M | -691.90M | -1.14B | -1.22B |
| Comprehensive Income & Other | -81.40M | 18.20M | -148.80M | -4.50M | -46.20M | 35.60M |
| Shareholders' Equity | 5.50B | 3.94B | 2.43B | 2.01B | 1.44B | 1.42B |
| Total Liabilities & Equity | 18.17B | 12.21B | 9.13B | 8.00B | 7.10B | 6.94B |
| Total Debt | 3.36B | 3.23B | 3.15B | 3.13B | 3.37B | 3.14B |
| Net Cash (Debt) | 354.80M | -1.38B | -1.89B | -2.31B | -3.07B | -2.70B |
| Net Cash Per Share | 0.90 | -3.52 | -4.89 | -5.98 | -8.12 | -7.49 |
| Filing Date Shares Outstanding | 385.06M | 382.60M | 380.78M | 381.97M | 377.64M | 375.99M |
| Total Common Shares Outstanding | 385.03M | 382.55M | 380.70M | 381.79M | 377.37M | 375.80M |
| Working Capital | 3.41B | 2.41B | 2.00B | 1.70B | 1.26B | 843.80M |
| Book Value Per Share | 14.29 | 10.30 | 6.39 | 5.28 | 3.82 | 3.77 |
| Tangible Book Value | 1.49B | 12.80M | -373.90M | -988.30M | -1.66B | -2.05B |
| Tangible Book Value Per Share | 3.86 | 0.03 | -0.98 | -2.59 | -4.40 | -5.46 |
| Land | 44.80M | 42.10M | 39.40M | 41.30M | 41.00M | 42.10M |
| Buildings | 455.20M | 408.70M | 362.10M | 343.60M | 312.40M | 304.80M |
| Machinery | 1.16B | 874.00M | 570.10M | 479.70M | 405.40M | 373.60M |
| Construction In Progress | 281.60M | 123.30M | 87.50M | 67.50M | 41.50M | 34.80M |
| Order Backlog | 15.00B | 7.20B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.10B | 1.33B | 495.80M | 460.20M | 76.60M | 119.60M |
| Depreciation & Amortization | 419.70M | 308.60M | 277.00M | 271.00M | 302.40M | 227.00M |
| Other Amortization | 4.40M | 5.90M | 7.00M | 7.90M | 7.50M | 6.30M |
| Loss (Gain) From Sale of Assets | -3.70M | |||||
| Asset Writedown & Restructuring Costs | 8.70M | |||||
| Stock-Based Compensation | 57.70M | 45.90M | 34.60M | 25.00M | 24.70M | 23.20M |
| Other Operating Activities | 39.20M | 81.30M | 390.80M | 69.70M | -111.10M | -41.10M |
| Change in Accounts Receivable | -1.48B | -547.50M | -280.30M | -277.20M | -368.00M | -117.40M |
| Change in Inventory | -1.84B | -164.70M | -369.30M | -54.00M | -211.40M | -125.70M |
| Change in Accounts Payable | 1.43B | 381.20M | 343.10M | -17.70M | 132.80M | 105.10M |
| Change in Unearned Revenue | 2.98B | 717.50M | 434.50M | 274.20M | 67.60M | 55.30M |
| Change in Income Taxes | 86.50M | -67.40M | 42.80M | 45.20M | -11.60M | -8.80M |
| Change in Other Net Operating Assets | -128.80M | 20.20M | -56.70M | 96.20M | -58.60M | -41.30M |
| Operating Cash Flow | 3.67B | 2.11B | 1.32B | 900.50M | -152.80M | 210.90M |
| Capital Expenditures | -518.30M | -220.00M | -167.00M | -127.90M | -100.00M | -73.40M |
| Sale of Property, Plant & Equipment | 12.40M | 3.90M | 9.80M | |||
| Cash Acquisitions | -1.27B | -1.18B | -17.60M | -28.80M | -5.00M | -1.16B |
| Divestitures | 11.90M | 21.70M | ||||
| Sale (Purchase) of Intangibles | -7.00M | -6.40M | -17.10M | -6.70M | -11.00M | -11.20M |
| Investment in Securities | 330.10M | -89.60M | ||||
| Investing Cash Flow | -1.46B | -1.50B | -201.70M | -139.10M | -112.10M | -1.22B |
| Long-Term Debt Issued | 270.00M | 224.90M | 790.80M | 850.00M | ||
| Total Debt Issued | 2.10B | 270.00M | 224.90M | 790.80M | 850.00M | |
| Long-Term Debt Repaid | -20.90M | -291.10M | -487.00M | -572.20M | -21.80M | |
| Total Debt Repaid | -2.10B | -20.90M | -291.10M | -487.00M | -572.20M | -21.80M |
| Net Debt Issued (Repaid) | 6.80M | -20.90M | -21.10M | -262.10M | 218.60M | 828.20M |
| Issuance of Common Stock | 49.30M | 26.40M | 33.00M | 27.40M | 3.10M | 111.60M |
| Repurchase of Common Stock | -30.70M | -11.20M | -621.80M | -3.30M | -4.30M | -7.30M |
| Common Dividends Paid | -95.80M | -66.60M | -42.20M | -9.50M | -3.80M | -3.80M |
| Other Financing Activities | -113.40M | -13.80M | ||||
| Financing Cash Flow | -70.40M | -72.30M | -652.10M | -247.50M | 100.20M | 914.90M |
| Foreign Exchange Rate Adjustments | 6.30M | 16.90M | -21.90M | 1.50M | -9.20M | -4.50M |
| Net Cash Flow | 2.14B | 557.60M | 443.60M | 515.40M | -173.90M | -95.50M |
| Free Cash Flow | 3.15B | 1.89B | 1.15B | 772.60M | -252.80M | 137.50M |
| Free Cash Flow Margin | 23.99% | 18.51% | 14.38% | 11.26% | -4.44% | 2.75% |
| Free Cash Flow Per Share | 8.02 | 4.85 | 2.98 | 2.00 | -0.67 | 0.38 |
| Levered Free Cash Flow | 2.96B | 1.43B | 1.04B | 716.54M | -280.64M | 127.22M |
| Unlevered Free Cash Flow | 2.98B | 1.48B | 1.12B | 821.20M | -196.07M | 177.55M |
| Cash Interest Paid | 126.70M | 126.70M | 155.50M | 176.70M | 132.80M | 75.10M |
| Cash Income Tax Paid | 428.20M | 428.20M | 272.50M | 153.00M | 104.60M | 97.30M |
| Change in Working Capital | 1.05B | 339.30M | 114.10M | 66.70M | -449.20M | -132.80M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 89.53B | 61.94B | 42.64B | 18.32B | 5.15B | 9.38B |
| Enterprise Value | 89.17B | 63.19B | 44.83B | 20.89B | 8.26B | 10.95B |
| Last Close Price | 232.50 | 161.90 | 113.37 | 47.87 | 13.61 | 24.86 |
| PE Ratio | 43.46 | 46.48 | 86.01 | 39.81 | 67.28 | 78.43 |
| Forward PE | 25.15 | 32.39 | 34.24 | 23.29 | 13.29 | 20.82 |
| PS Ratio | 6.83 | 6.05 | 5.32 | 2.67 | 0.91 | 1.88 |
| PB Ratio | 16.27 | 15.72 | 17.52 | 9.09 | 3.57 | 6.62 |
| P/TBV Ratio | 60.23 | 4,839.27 | ||||
| P/FCF Ratio | 28.45 | 32.71 | 37.01 | 23.71 | 68.22 | |
| P/OCF Ratio | 24.42 | 29.30 | 32.32 | 20.34 | 44.48 | |
| PEG Ratio | 0.60 | 1.08 | 0.95 | 0.37 | 0.78 | 0.17 |
| EV/Sales Ratio | 6.80 | 6.18 | 5.60 | 3.04 | 1.45 | 2.19 |
| EV/EBITDA Ratio | 27.97 | 28.62 | 26.98 | 17.58 | 15.59 | 21.89 |
| EV/EBIT Ratio | 32.21 | 33.27 | 32.38 | 22.77 | 36.32 | 40.08 |
| EV/FCF Ratio | 28.33 | 33.37 | 38.91 | 27.04 | 79.63 | |
| Debt / Equity Ratio | 0.61 | 0.82 | 1.29 | 1.55 | 2.34 | 2.21 |
| Debt / EBITDA Ratio | 1.01 | 1.38 | 1.78 | 2.44 | 5.50 | 5.41 |
| Debt / FCF Ratio | 1.07 | 1.70 | 2.73 | 4.05 | 22.82 | |
| Net Debt / Equity Ratio | -0.06 | 0.35 | 0.78 | 1.15 | 2.13 | 1.90 |
| Net Debt / EBITDA Ratio | -0.11 | 0.62 | 1.14 | 1.94 | 5.80 | 5.39 |
| Net Debt / FCF Ratio | -0.11 | 0.73 | 1.64 | 2.99 | -12.15 | 19.62 |
| Asset Turnover | 0.91 | 0.96 | 0.94 | 0.91 | 0.81 | 0.83 |
| Inventory Turnover | 3.44 | 4.82 | 4.77 | 5.23 | 5.67 | 6.54 |
| Quick Ratio | 0.93 | 1.13 | 1.17 | 1.27 | 1.15 | 1.06 |
| Current Ratio | 1.39 | 1.55 | 1.65 | 1.74 | 1.66 | 1.46 |
| Return on Equity (ROE) | 46.57% | 41.81% | 22.29% | 26.63% | 5.36% | 12.39% |
| Return on Assets (ROA) | 11.94% | 11.12% | 10.10% | 7.60% | 2.02% | 2.84% |
| Return on Invested Capital (ROIC) | 43.82% | 30.15% | 20.75% | 17.91% | 2.42% | 6.12% |
| Return on Capital Employed (ROCE) | 29.30% | 24.30% | 22.90% | 16.10% | 4.40% | 5.40% |
| Earnings Yield | 2.30% | 2.15% | 1.16% | 2.51% | 1.49% | 1.27% |
| FCF Yield | 3.52% | 3.06% | 2.70% | 4.22% | -4.91% | 1.47% |
| Dividend Yield | 0.11% | 0.11% | 0.10% | 0.05% | 0.07% | 0.04% |
| Payout Ratio | 4.67% | 5.00% | 8.51% | 2.06% | 4.96% | 3.18% |
| Buyback Yield / Dilution | -0.77% | -1.12% | -0.03% | -2.12% | -5.02% | -17.28% |
| Total Shareholder Return | -0.66% | -1.01% | 0.07% | -2.06% | -4.95% | -17.24% |