Vertiv Holdings CoVRT
NYSE•Industrials•Electrical Equipment & Parts
Vertiv Holdings Co designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers AC and DC power management products, low/medium voltage switchgear, busbar, thermal management products, 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, and software infrastructure that are integral to the technologies used for various services, including artificial intelligence, e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming. It also provides lifecycle management services, predictive analytics, and professional services for deploying, maintaining, and optimizing its products and their related systems; and preventative maintenance, acceptance testing, engineering and consulting, fluid management, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software services. The company offers its products primarily under the Vertiv, Liebert, NetSure, Geist, Energy Labs, ERS, Albér, and Avocent brands. It serves through a network of direct sales professionals, independent sales representatives, channel partners, and original equipment manufacturers. The company is headquartered in Westerville, Ohio.
Vertiv Holdings, LLC (VRT) reported trailing twelve months revenue of $10.84B as of March 2026, a 29.0% increase year-over-year. Quarterly revenue reached $2.65B, reflecting continued top-line momentum.
Vertiv Holdings, LLC generated $1.56B in TTM net income, with quarterly EBITDA of $547.80M. The operating margin expanded from 14.3% to 16.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (16.6%) and net margin (14.7%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 8.1% a year ago, signaling stronger bottom-line efficiency.
VRT trades at a P/E of 57.6x (a premium multiple) and a P/S of 8.3x. The price-to-book ratio of 21.1x indicates a significant premium over book value.
The company generated $654.20M in free cash flow over the trailing twelve months, a 145.2% increase year-over-year, indicating cash generation ability. The balance sheet shows $13.40B in total assets with $2.92B in long-term debt against $4.24B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~17.7%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 29.5% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~50.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~18.2% — no sign of cost or pricing stress.
FCF covers net income by 1.7x on average — earnings are well-supported by cash generation.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding rose 2.2% — mild dilution. Compare to earnings growth to assess net per-share impact.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation