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Vertiv HoldingsVRT

Legal name
Vertiv Holdings Co
Sector
Technology
Industry
Electronic Components, NEC
Exchange
NYSE

Stock Price $VRT

Latest filings

You are here#22 of 87 in Industrials by market cap

Filing record · 2018–202610-K910-Q268-K115

VRT filed 9 annual reports (10-K), 26 quarterly reports (10-Q) and 115 current reports (8-K) between 2018 and 2026.

  1. FY2018 annual report10-K · Mar ’19Mar ’19
  2. Restatement8-K · Apr ’21Apr ’21
  3. Leadership change8-K · Jan ’23Jan ’23
  4. Material agreement8-K · Mar ’26Mar ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  10. $10.23B
YoY changeLargest recent move+20.6%in FY23Latest +27.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All VRT Financial Metrics60 metrics

Income Statement15

Balance Sheet26

Cash Flow15

Per Share4

02—Overview

Vertiv Holdings Financial Overview 2021–2025

Updated Nov 2, 2026

Fueled by the voracious power and cooling demands of artificial intelligence, Vertiv Holdings Co. accelerated its top line to a staggering 27.7% growth in FY2025. This acceleration underscores the company's successful transformation from a supply-chain-constrained hardware vendor into a highly profitable infrastructure powerhouse capable of commanding premium pricing. Reflecting this fundamental shift, net sales grew from $4.998 billion in FY2021 to $10.2 billiona in FY2025.

The company's financial trajectory was driven by massive traction in the Americas segment, which delivered a 41.9% net sales increase in FY2025. Through aggressive price realization and volume leverage, Vertiv absorbed macroeconomic cost inflation to expand its gross profit margin from 30.5% in FY2021 to 36.3% in FY2025. This operational efficiency pushed full-year operating profit up 33.8% to $1,829.7 millionb. Momentum continued into Q1 2026, with overall net sales climbing another 30.1% and operating profit jumping 51.4%. The company simultaneously solidified its balance sheet by issuing $2.1 billion in senior unsecured notes in early 2026. Investors heavily rewarded this execution; at the close of FY2025, the market valued Vertiv at a $62.0 billion market cap, with the stock trading at $162.01 or 47.5x earnings.

Recent Developments (Q2 and Q3 2026)

Vertiv's momentum accelerated dramatically through Q3 2026, capped by a massive revenue surge and a transformative grid-level acquisition. Third-quarter net sales skyrocketed 61.2% year-over-year to $4.31 billionc, while operating profit leaped 90.4% to $983.8 million. This followed a strong Q2 2026, where sales climbed 24.1% to $3.3 billion.

Expanding beyond traditional data center infrastructure, the company closed its $1.45 billiond upfront acquisition of Utility Innovation Group in October 2026 to capture microgrid demand. Vertiv also bolstered its liquid cooling portfolio by acquiring ThermoKey and King Environmental Services. Bulls will highlight that organic orders grew over 100% in Q3 2026, signaling immense future revenue potential from AI factory buildouts. Conversely, bears might argue the stock is priced for perfection, trading at 71.2x earnings as of October 28, 2026, which leaves little margin for execution missteps.

What to watch: integration of the Utility Innovation Group acquisition; execution against the raised full-year 2026 financial guidance.

03—Filings

Recent SEC Filings

  1. 8-KVertiv Holdings 8-K Report, Financial Results (Oct 28, 2026)Vertiv Holdings Co (VRT) reported robust financial results for the third quarter ended September 30, 2026, exceeding investor expectations and leading to an upward revision of full-year guidance. The company demonstrated exceptional sales growth, driven by strong demand for its critical digital infrastructure solutions. This performance is underpinned by significant organic order growth, indicating strong market traction and the company's ability to capitalize on the ongoing digital infrastructure buildout. The company's operational execution was also noteworthy, with substantial increases in operating profit and adjusted operating profit, accompanied by an expansion in adjusted operating margin. This demonstrates effective leverage of increased sales and improved manufacturing productivity. Furthermore, Vertiv generated strong operating cash flow and free cash flow, enhancing its liquidity position and providing financial flexibility for continued investment and strategic initiatives. The raised full-year guidance across key metrics signals management's confidence in sustained momentum.
  2. 8-KVertiv Holdings 8-K Report, Acquisition Completed (Oct 27, 2026)Vertiv Holdings Co. (VRT) announced the completion of its acquisition of Utility Innovation Holdings, Inc. (UIG) on October 27, 2026. This strategic acquisition involves an upfront cash payment of approximately $1.45 billion, with potential additional consideration of up to $1.15 billion contingent on UIG achieving specific EBITDA targets. UIG specializes in microgrid solutions, advanced power controls, and behind-the-meter power architecture design, critical for data centers facing increasing power constraints, particularly those supporting AI infrastructure. The integration of UIG is expected to significantly enhance Vertiv's offerings by extending its power and cooling portfolio from the grid interconnect to the chip level. This move aims to provide data center operators with greater flexibility and faster access to power, addressing a key bottleneck in AI-driven expansion. The acquisition is anticipated to be accretive to Vertiv's adjusted earnings per share in the first year post-completion.
  3. 8-KVertiv Holdings 8-K Report, Regulation FD Disclosure (Oct 26, 2026)Vertiv Holdings Co. (VRT) announced on October 26, 2026, the successful closing of its acquisition of King Environmental Services Ltd. (KES), a Europe-based specialist in fluid management, commissioning, and load-testing services for high-density data centers. This strategic acquisition significantly expands Vertiv's global thermal management services capabilities into the Europe, Middle East, and Africa (EMEA) region. The integration of KES, which follows Vertiv's 2025 PurgeRite acquisition, aims to strengthen the company's end-to-end thermal management platform. This move is particularly relevant as increasing computing density and AI-driven environments necessitate sophisticated cooling solutions. Investors should note that the financial terms of the acquisition were not disclosed and are not expected to be material to Vertiv's financial results.
  4. 8-KVertiv Holdings 8-K Report, Regulation FD Disclosure (Sep 24, 2026)Vertiv Holdings Co (NYSE: VRT) disclosed in an 8-K filed September 24, 2026 that one of its wholly-owned subsidiaries has signed a definitive agreement to acquire King Environmental Services Ltd. (KES), a Dublin, Ireland-based provider of fluid management, commissioning, and load-testing services for high-density and liquid-cooled data centers. The transaction is expected to close in the fourth quarter of 2026. The announcement is furnished under Item 7.01 (Regulation FD) rather than filed, so it is not subject to Section 18 liability, and it is presented as a strategic services expansion rather than a major financial event. Strategically, the deal extends Vertiv's fluid management and thermal services platform from North America, where it acquired PurgeRite in December 2025, into Europe, the Middle East and Africa. KES serves customers across EMEA from hubs in North Dublin and Frankfurt and offers flushing, filtration, water treatment, testing, adjusting and balancing, thermography, and thermal and electrical load testing. Management frames the acquisition as a way to offer a single accountable partner across commissioning, testing, fluid management, and ongoing operations as AI and liquid-cooling densities rise. For investors, the key point is scale: the company states that the financial terms were not disclosed and are not expected to be material to Vertiv's financial results. The filing therefore signals continued execution on its services-led growth strategy rather than a change to its overall financial profile. Investors should watch for closing confirmation in Q4 2026 and any integration commentary in future earnings releases, while noting the forward-looking risks tied to closing, customer and employee retention, and realization of synergies.
  5. 8-KVertiv Holdings 8-K Report, Material Agreement (Sep 2, 2026)On September 2, 2026, Vertiv Holdings Co (NYSE: VRT) disclosed that its wholly-owned subsidiary, Vertiv Corporation, entered into an agreement and plan of merger dated September 1, 2026 to acquire Utility Innovation Holdings, Inc. (UtilityInnovation Group, or UIG), a microgrid controls and behind-the-meter power architecture provider for data centers. The deal provides for approximately $1.45 billion in upfront cash at closing, subject to customary adjustments, plus up to $1.15 billion in additional cash consideration payable in two tranches if EBITDA targets over 12- and 24-month periods are achieved. Vertiv states the upfront price represents roughly 13x expected UIG 2027 EBITDA, and that the multiple would be significantly lower if the full earnout is paid. Strategically, the acquisition extends Vertiv's power and cooling portfolio upstream to grid interconnect and onsite generation, adding microgrid controls, microgrid-specific switchgear, and energy storage orchestration. Management frames the deal as a way to help AI data center operators reduce time to power as grid constraints limit deployments, and expects the transaction to be accretive to adjusted EPS in the first year after closing. The deal is expected to close in the fourth quarter of 2026, subject to the Hart-Scott-Rodino waiting period and other customary conditions, and Vertiv expects to fund it from existing resources. Investors should note that the filing provides no detail on UIG's revenue, historical profitability, or the specific EBITDA thresholds that trigger the earnout, so the value of the contingent consideration and the true effective purchase price cannot be assessed from this document alone. The full merger agreement is being filed as Exhibit 2.1 with schedules omitted, and the press release (Exhibit 99.1) contains forward-looking statements tied to deal timing, customer retention, and synergy realization.
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04—See also

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