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Supplies power and cooling infrastructure, including liquid cooling, that keeps data centers running.
Supplies power and cooling infrastructure, including liquid cooling, that keeps data centers running.
Sells data-center power and cooling equipment, mostly through large project orders from cloud and colocation customers, then services the installed units under contracts. It was Emerson's network power business until Platinum Equity bought it in 2016, and it listed in 2020 through a merger with a listed shell company.
Moat: narrow (installed base, switching costs, scale). Deep integration into data-center design and long service contracts make rip-and-replace costly.
Headquarters: Westerville, Ohio, US · Founded: 2016 · Employees: 34,000
Size Vertiv (VRT) is a United States Industrials company (Electronic Production Equipment) with a market value of $70.4B, the 192nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $182.86 on 6 Nov 2026.
Performance Over six months the shares fell 46.2%, against +8.1% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 11 in its peer set.
Growth Revenue grew 35.3% over the last twelve months (peer median +39.6%); the operating margin is 20.9% (peer median 9.5%).
Valuation It trades at 20.0× forward earnings against a peer median of 63.2× (cheapest of 10).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +7 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 27.7 points above its cost of capital (15.0% WACC).
Credit Vertiv has 5 bonds outstanding ($2.95B), rated BBB- by the agencies and trading like BBB+ at a weighted spread of 86 bp.
Short interest Short interest is 3.6% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $13.1B | $10.2B | $8.01B | $6.86B | $5.69B |
| Revenue growth | — | +28% | +17% | +21% | — |
| Gross profit | $4.71B | $3.52B | $2.75B | $2.22B | $1.40B |
| EBITDA | $3.16B | $2.21B | $1.66B | $1.18B | $524M |
| Net income | $2.10B | $1.33B | $496M | $460M | $76.6M |
| Free cash flow | $3.12B | $1.89B | $1.15B | $773M | -$253M |
| Capital expenditure | $525M | $226M | $184M | $135M | $111M |
| Total debt | $3.36B | $3.23B | $3.15B | $3.13B | $3.37B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Vertiv VRT | $70.4B | -46% | +35% | 21% | 20.0× | 25.4% |
| Schneider Electric SU.PA | $151B | -16% | +7% | 18% | 22.2× | 18.0% |
| Eaton ETN | $133B | -15% | +20% | 19% | 21.4× | 19.1% |
| Legrand LR.PA | $38.0B | -16% | +10% | 21% | 22.0× | 15.6% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| NVT NVT | $17.2B | -38% | +48% | 18% | 16.4× | 16.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VRT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.0% | -16.4% | 4th lowest of 12 |
| 6-month return | -46.2% | +8.1% | 2nd lowest of 11 |
| Distance from 52-week high | -51.9% | -27.2% | 3rd lowest of 12 |
| Revenue growth (TTM) | +35.3% | +39.6% | 6th highest of 11 |
| Operating margin | 20.9% | 9.5% | 3rd highest of 11 |
| Forward P/E | 20.0× | 63.2× | cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | 25.4% | 53.2% | least demanding of 5 |
| Growth delivered (Del g) | +18.5% | +41.3% | 2nd lowest of 5 |
| Hurdle (Req g minus delivered) | +6.9 pp | +13.2 pp | 3rd least demanding of 5 |
| ROIC minus cost of capital | +27.7 pp | -3.1 pp | highest of 11 |
| EV / EBITDA | 22.1× | 42.9× | 2nd cheapest of 10 |
| Net debt / EBITDA | -0.1× | 0.3× | 3rd least indebted of 11 |
| Bond spread | 86 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vertiv VRT | United States | $70.4B | -46% | +35% | 21% | 20.0× | 25.4% | +18.5% |
| Bloom Energy BE | United States | $51.2B | -21% | +111% | 15% | 36.5× | n/a | n/a |
| Dixon Technologies (India) DIXON.NS | India | $8.16B | +14% | +21% | 2% | 76.9× | 48.0% | +49.7% |
| Syrma SGS Technology SYRMA.NS | India | $2.97B | +33% | +62% | 10% | 63.2× | 33.7% | +61.8% |
| Kaynes Technology India KAYNES.NS | India | $2.30B | -26% | +35% | 12% | 55.5× | n/a | n/a |
| Data Patterns (India) DATAPATTNS.NS | India | $2.24B | -11% | +34% | 37% | 60.2× | 61.0% | +32.8% |
| L&F 066970.KS | South Korea | $2.15B | -62% | +81% | 8% | n/a | n/a | n/a |
| PG Electroplast PGEL.NS | India | $1.65B | +2% | +21% | 6% | 49.3× | n/a | n/a |
| Apollo Micro Systems APOLLO.NS | India | $1.63B | +32% | +77% | 21% | 92.7× | n/a | n/a |
| Avalon Technologies AVALON.NS | India | $1.34B | +51% | +44% | 10% | 69.4× | n/a | n/a |
| Cyient DLM CYIENTDLM.NS | India | $649M | +82% | -2% | 7% | 73.3× | 58.4% | +15.0% |
| Coreintelligence 3718.TWO | Taiwan | $518M | n/a | n/a | n/a | n/a | n/a | n/a |
Vertiv has 5 bonds outstanding with $2.95B face value. The agencies rate it BBB-; its bonds trade like BBB+. Weighted yield 5.76%, a spread of 86 bp over government bonds.