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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $10.2B | $2.1B | $1.3B | $1.9B | 33.8% | 27.7% | 168.8% |
| 2024 | $8.0B | $1.2B | $496M | $1.1B | 20.4% | 16.7% | 7.7% |
| 2023 | $6.9B | $985M | $460M | $766M | 22.8% | 20.6% | 500.8% |
| 2022 | $5.7B | $617M | $77M | $-264M | 5.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 5,691.50 | 6,863.20 | 8,011.80 | 10,229.90 |
| Operating Revenue | - | 5,691.50 | 6,863.20 | 8,011.80 | 10,229.90 |
| Cost Of Revenue | - | 4,075.40 | 4,462.70 | 5,077.60 | 6,514.70 |
| Gross Profit | - | 1,616.10 | 2,400.50 | 2,934.20 | 3,715.20 |
| Operating Expense | - | 1,388.30 | 1,483.70 | 1,552.20 | 1,819 |
| Selling General And Administration | - | 1,178.30 | 1,312.30 | 1,374 | 1,617.80 |
| Total Expenses | - | 5,463.70 | 5,946.40 | 6,629.80 | 8,333.70 |
| Operating Income | - | 227.80 | 916.80 | 1,382 | 1,896.20 |
| Total Operating Income As Reported | - | 223.40 | 872.20 | 1,367.40 | 1,829.70 |
| EBITDA | - | 616.70 | 984.80 | 1,192.80 | 2,136.60 |
| Normalized EBITDA | - | 530.20 | 1,187.80 | 1,659 | 2,204.80 |
| EBIT | - | 314.30 | 713.80 | 915.80 | 1,828 |
| Interest Expense | - | 147.30 | 180.10 | 150.40 | 86.10 |
| Net Interest Income | - | -147.30 | -180.10 | -150.40 | -86.10 |
| Other Non Operating Income Expenses | 59.20 | - | - | - | - |
| Other Income Expense | - | 86.50 | -203 | -466.20 | -68.20 |
| Interest Expense Non Operating | - | 147.30 | 180.10 | 150.40 | 86.10 |
| Net Non Operating Interest Income Expense | - | -147.30 | -180.10 | -150.40 | -86.10 |
| Pretax Income | - | 167 | 533.70 | 765.40 | 1,741.90 |
| Tax Provision | - | 90.40 | 73.50 | 269.60 | 409.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 18.16 | -28.01 | -164.10 | -16.03 |
| Net Income Continuous Operations | - | 76.60 | 460.20 | 495.80 | 1,332.80 |
| Net Income From Continuing And Discontinued Operation | - | 76.60 | 460.20 | 495.80 | 1,332.80 |
| Net Income From Continuing Operation Net Minority Interest | - | 76.60 | 460.20 | 495.80 | 1,332.80 |
| Net Income | - | 76.60 | 460.20 | 495.80 | 1,332.80 |
| Net Income Common Stockholders | - | 76.60 | 460.20 | 495.80 | 1,332.80 |
| Net Income Including Noncontrolling Interests | - | 76.60 | 460.20 | 495.80 | 1,332.80 |
| Normalized Income | - | 8.26 | 635.19 | 797.90 | 1,384.97 |
| Diluted NI Availto Com Stockholders | - | -14.30 | 460.20 | 495.80 | 1,332.80 |
| Basic Average Shares | - | 376.73 | 380.14 | 376.42 | 381.71 |
| Diluted Average Shares | - | 378.22 | 386.23 | 386.33 | 390.65 |
| Reconciled Depreciation | - | 302.40 | 271 | 277 | 308.60 |
| Reconciled Cost Of Revenue | - | 3,988.80 | 4,373 | 4,984.80 | 6,406.50 |
| Total Unusual Items | - | 86.50 | -203 | -466.20 | -68.20 |
| Total Unusual Items Excluding Goodwill | - | 86.50 | -203 | -466.20 | -68.20 |
| Special Income Charges | - | -0.70 | -29.10 | -7.70 | -56.20 |
| Other Special Charges | 0.40 | - | 0.50 | 2.40 | 1.70 |
| Impairment Of Capital Assets | 8.70 | 0 | 0 | - | - |
| Restructuring And Mergern Acquisition | - | 0.70 | 28.60 | 5.30 | 54.50 |
| Gain On Sale Of Security | - | 87.20 | -173.90 | -458.50 | -12 |
| Depreciation Amortization Depletion Income Statement | - | 215.80 | 181.30 | 184.20 | 200.40 |
| Depreciation And Amortization In Income Statement | - | 215.80 | 181.30 | 184.20 | 200.40 |
| Other Operating Expenses | - | -5.80 | -9.90 | -6 | 0.80 |
| Average Dilution Earnings | 0 | -90.90 | 0 | 0 | - |
| Amortization | - | 215.80 | 181.30 | 184.20 | 200.40 |
| Amortization Of Intangibles Income Statement | - | 215.80 | 181.30 | 184.20 | 200.40 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vertiv Holdings Cothis co. | VRT | $124.4B | 93.35↑ premium | 31.57 | 33.8% | 58.93 |
| Honeywell International Inc. | HON | $137.9B | 29.16 | 9.92 | 34.0% | 19.61 |
| Lockheed Martin Corporation | LMT | $119.7B | 23.85 | 17.81 | 74.6% | 15.73 |
| Parker-Hannifin Corporation | PH | $110.0B | 31.15 | 8.04 | 25.8% | 21.91 |
| Quanta Services, Inc. | PWR | $107.9B |
| - |
| - |
| - |
| - |
| - |
| 104.94 |
| 12.07 |
| 11.5% |
| 44.47 |
| Trane Technologies plc | TT | $102.5B | 35.13 | 11.95 | 34.0% | 24.61 |
| Howmet Aerospace Inc. | HWM | $99.8B | 66.15 | 18.64 | 28.2% | 44.96 |
| United Parcel Service, Inc. | UPS | $93.7B | 16.81 | 5.77 | 34.3% | 9.76 |
| Cummins Inc. | CMI | $93.6B | 32.91 | 7.58 | 23.0% | 18.31 |
| Peer Median | - | 32.03 | 10.93 | 31.1% | 20.76 | |