Vertiv Holdings Co

Electronic Components, Nec

VRTSolid10 of 11 basics passed

$242.79

-0.39%

Market cap $93.5B

$242.79

-0.39%

Market cap $93.5B

Vertiv has roots tracing back to 1946 when its founder, Ralph Liebert, developed an air-cooling system for mainframe data rooms.

It is a $93.5B technology company. Revenue grew 26.2% over the last year, it keeps 15¢ of every dollar of sales as profit, and its net debt equals ~0.4 years of free cash flow. It trades at 54.0× earnings — in the cheapest third of its own history.

Website: vertiv.com
Location: Westerville, OH
Employees: 34 000
Sector: Technology
Founded: 1946

Share price · 3 years

$40.58 → $242.79+498.3%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $11.5B
Profit: keeps 15¢ of every $1 sold; $1.73B
Free cash flow: cash left after running the business; $2.93B
Net debt: debt minus cash on hand; $1.16B
P/E: years of profit in the price; 54.0
EPS: earnings per share, TTM; $4.43
Dividend: pays out 5% of profit · 3% of FCF; 0.09%
Shares: up 8% since 2021 — dilution; 390.7M
Volatility: beta vs the market — under 1 swings less; 2.11

Revenue, last 8 years

52-week range

Low $149.83$242.79High $376.23

Today's price is 41% of the way from the year's low to its high.

P/E vs its history5y

54.0×median 65.9×

Higher than 25% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

54.0×

75%

P/S

8.1×

13%

EV/EBITDA

42.0×

40%

P/B

19.6×

30%

FCF yield

3.1%

67%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Standing in Technology

Size$93.5Btop 22%
Revenue growth+22%top 22%
Net margin15%top 44%
Return on equity42%top 17%
P/E54.0×top 73%
Dividend yield0.09%top 95%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong growth and profitability; Valuation and Moat lag behind.

Valuation49

P/E vs own history25th pct · 20/25
FCF yield3.1% · 12/25
P/S8.1x · 12/25
EV/EBITDA39.5x · 5/25

Growth95

Revenue CAGR19.6% · 20/25
Net income CAGR82.7% · 25/25
EPS CAGR ~5Y79.0% · 25/25
Fwd implied growth90.6% · 25/25

Profitability90

ROIC27.4% · 25/25
ROE42.1% · 25/25
Net margin15.1% · 20/25
Operating margin18.4% · 20/25

Health67

Altman Z6.01 · 25/25
Current ratio1.38 · 12/25
Interest coverage2.4x · 10/25
Net cash / debtD/A 10% · 20/25

Quality72

Piotroski F6/9 · 15/25
Beneish M-2.40 · 20/25
FCF conversion169% · 25/25
Margin stabilityσ 10.8% · 12/25

Moat49

ROIC >12% years5/8 yrs · 13/25
Median gross margin34.3% · 13/25
FCF-positive years5/6 yrs · 18/25
Worst-year net marginworst -4.2% · 5/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Revenue crossed $10B
$10.2B for the year
FY2025Financial
Best year on record
$1.33B net income
2021Acquisition
Vertiv acquired E+I Engineering, a global provider of switchgear, busway and modular power solutions, for…
FY2020Financial
Revenue crossed $1B
$4.37B for the year
Feb 10, 2020Acquisition
Through a merger with a Goldman Sachs-led special purpose acquisition company, GS Acquisition Holdings, Vertiv…
FY2018Financial
First recorded profitable year
$5.03M net income
2016Acquisition
Platinum Equity acquired the ENP business from Emerson Electric in a transaction valued in excess…
1987Acquisition
Liebert Corporation was acquired by Emerson Electric in March 1987, remaining a wholly owned subsidiary of Emerson
1983Acquisition
Liebert acquired Franklin Electric subsidiary, Programmed Power Corporation, expanding the company's power…
1981IPO
Liebert became a public company, listed on the NASDAQ under the symbol LIEB
1980Acquisition
Ralph Liebert's son, Larry Liebert, took over the company as president in 1980 and served in this position until 1989
1977Product
Liebert launched Conditioned Power Corporation to design and manufacture power distribution, conditioning…
1965Product
The prototype was introduced to IBM in Chicago
1946Founded
Vertiv began as Capitol Refrigeration Industries, established in 1946 by Ralph Liebert (1918-1984) in Columbus, Ohio

Achievements

Verifiable track record, straight from the reported numbers.

#50 largest of 220 Technology companies by market cap

$10 000 invested in 2021 would be worth ~$98 977 today — price return only

$10.2B revenue in FY2025

Revenue up 26.2% year over year

Profitable 5 years in a row

Positive free cash flow 3 years in a row

34 000 employees

ROIC of 27.4%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 26.2% year over year
Strong cash conversion — FCF is 25.5% of revenue
Could repay net debt from ~0.1 years of free cash flow
High returns on invested capital (ROIC 27.4%)
Altman Z-Score 6.01 — low bankruptcy-risk zone

Watch-outs

Loss-making in 1 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+26.2% YoY
Profitable — makes more than it spends$1.73B TTM
Profit growing — earnings are higher than last year+156.4% YoY
Generates cash — cash left after running and investing$2.93B TTM
Debt under control — could handle its obligations~0.4y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$93.5B market cap
Not printing shares — share count not ballooning — you keep your slice+8.5% shares over ~5y
Proven track record — years of profitability behind it7/8 profitable years
Financially stable — balance sheet not near distressAltman Z 6.0 — safe
Pays a dividend — returns cash to shareholdersyield 0.09%
Valuation not extreme — price not wildly above earningsP/E 54.0

Peer comparisonVertiv Holdings Co vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
VRT this company	$93.5B	54.0	+26.2%	15.1%	Solid
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: VRT vs NVDA · VRT vs AAPL · VRT vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 10Buy 22Hold 4

Appendix · Financial records

The full statements behind this CV, FY2018–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $11.5B · net income $1.73B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$11.5B

YoY 26.2%

Net income (TTM)

$1.73B

Margin 15.1%

Gross margin

38.0%

Operating margin

18.4%

P/E ratio

54.0

Dividend yield

0.09%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	4.4	5.0	5.7	6.9	8.0	10.2
Gross profit	1.5	1.5	1.6	2.4	2.9	3.7
Operating income (EBIT)	-0.1	0.3	0.2	0.9	1.4	1.8
Net income	-0.2	0.1	0.1	0.5	0.5	1.3
EPS (diluted)	—	0.33	0.20	1.19	1.28	3.41

Cash flowFree cash flow $2.93B · operating cash flow $3.35B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$2.93B

Margin 25.5%

Operating cash flow (TTM)

$3.35B

FCF margin

25.5%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.2	0.2	-0.2	0.9	1.3	2.1
Capital expenditure	-0.0	-0.1	-0.1	-0.1	-0.2	-0.2
Free cash flow	0.2	0.1	-0.3	0.8	1.2	1.9
FCF margin	3.8%	2.8%	-4.4%	11.3%	14.4%	18.5%

Balance sheetAssets $12.2B · net debt $1.16B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $12.2B of assets is financed

68%

32%

Liabilities $8.27B — borrowed moneyEquity $3.94B — owners' stake

Cash vs debt

Total debt $2.89B − cash $1.73B = net debt $1.16B

Cash on hand covers 60% of debt.

Altman Z-Score

6.01

Safe zone

Debt repayment

0.1 yrs

Years of free cash flow to clear net debt

Interest coverage

2.4x

EBIT ÷ interest expense

ROE

42.1%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.5	0.4	0.3	0.8	1.2	1.7
Total assets	5.1	6.9	7.1	8.0	9.1	12.2
Total liabilities	4.4	5.5	5.7	6.0	6.7	8.3
Total debt	2.2	3.0	3.2	2.9	2.9	2.9
Equity	0.7	1.4	1.4	2.0	2.4	3.9
Net debt	1.6	2.5	2.9	2.1	1.7	1.2

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of VRT on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $242.79 · market cap $93.5B.