# Vertiv Holdings Co (VRT)

> Source: Nexqual · https://nexqual.com/VRT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Vertiv Holdings Co (VRT), nexqual.com/VRT" · informational, not investment advice.

**Price:** USD 195.59 (-7.81% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 212.15 · day 193.14–204 · 52w 147.82–379.94 · market cap $75.3B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $11.5B, net income $1.73B (15.1% margin), free cash flow $2.93B (SEC filings).
- Valuation: P/E 43.5x (avg 58.8x at the last 3 fiscal year-ends), EV/EBITDA 29.4x, net debt $129M.
- 3 of 80 tracked superinvestors hold VRT (13F, Q2 2026): 1 new, 0 added, 1 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $3.9M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y +6.9% vs S&P 500 +14.9%; 5Y +716.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 1.82, revenue estimate $3.76B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.00B | $5.69B | $6.86B | $8.01B | $10.2B | $11.5B |
| Gross profit | $1.52B | $1.62B | $2.40B | $2.93B | $3.72B | — |
| Operating income | $260M | $223M | $872M | $1.37B | $1.83B | $2.17B |
| Net income | $120M | $76.6M | $460M | $496M | $1.33B | $1.73B |
| EPS (diluted) | $0.33 | -$0.04 | $1.19 | $1.28 | $3.41 | — |
| Free cash flow | $138M | -$253M | $773M | $1.15B | $1.89B | $2.93B |
| Gross margin | 30.5% | 28.4% | 35.0% | 36.6% | 36.3% | — |
| Operating margin | 5.2% | 3.9% | 12.7% | 17.1% | 17.9% | 18.9% |
| Net margin | 2.4% | 1.3% | 6.7% | 6.2% | 13.0% | 15.1% |
| Revenue growth | +14.4% | +13.9% | +20.6% | +16.7% | +27.7% | — |
| Cash + short-term investments | $439M | $261M | $780M | $1.23B | $1.73B | — |
| Total debt | $2.97B | $3.19B | $2.94B | $2.93B | $2.91B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 43.5x · P/S 6.6x · EV/EBITDA 29.4x · EV/Sales 6.6x · P/FCF 25.7x · P/B 15.8x · FCF yield 3.89% · Earnings yield 2.30% · Dividend yield (paid, TTM) 0.11% · Net debt $129M · EV $75.4B
P/E at fiscal year-ends: Dec 2025 47.5x, Dec 2024 88.5x, Dec 2023 40.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold VRT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Leon Cooperman | Omega Family Office | 20.37% | $722M | Unchanged |
| Terry Smith | Fundsmith | 0.10% | $14.0M | Reduced -54.1% |
| Mairs & Power | Mairs & Power Funds | <0.01% | $261K | New position |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-01 | Monser Edward L | Director | 15,287 | $3.9M | 46.7% | Yes (adopted May 22, 2026) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Mizuho | Target lowered | Outperform | $300 → $280 |
| 2026-10-14 | RBC Capital | Target lowered | Outperform | $337 → $323 |
| 2026-10-12 | Evercore ISI Group | Target lowered | Outperform | $375 → $325 |
| 2026-10-09 | GLJ Research | Reiterated | Sell | $188 |
| 2026-10-06 | GLJ Research | Initiated | Sell | $188 |
| 2026-10-05 | BMO Capital | Initiated | Outperform | $329 |
| 2026-09-25 | Wells Fargo | Initiated | Overweight | $340 |
| 2026-08-07 | GLJ Research | Upgrade | Hold → Buy | $381 |
| 2026-07-30 | RBC Capital | Target lowered | Outperform | $418 → $337 |
| 2026-07-30 | Citigroup | Target lowered | Buy | $414 → $358 |
| 2026-07-30 | Keybanc | Target lowered | Overweight | $360 → $325 |
| 2026-07-23 | Keybanc | Initiated | Overweight | $360 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +6.9% | +716.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.9% | +52.0% |
| Volatility (annualized) | 65.8% | 64.1% |
| Max drawdown | -48.0% (May 2026→Oct 2026) | -70.0% (Nov 2021→Jun 2022) |

## Peers (Electrical Equipment & Parts)
BE (Bloom Energy Corporation) USD 217.77 -8.70% · HUBB (Hubbell Inc) USD 445.8 -3.25% · NVT (nVent Electric plc) USD 127.67 -12.63% · AYI (Acuity Inc.) USD 317.23 +0.15% · AEIS (Advanced Energy Industries, Inc) USD 216.64 -12.49% · FPS (Forgent Power Solutions, Inc.) USD 24.92 -21.54%

## More
Full page: https://nexqual.com/VRT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in VRT's own 10-K filed 2026-02-13 (https://www.sec.gov/Archives/edgar/data/1674101/000167410126000008/vrt-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | NVIDIA (NVDA) | "Our partnership with NVIDIA supports the development of advanced power and thermal infrastructure aligned with next-generation AI and high-performance computing architectures, while our collaboration with Oklo reflects e…" |
| Partner | Caterpillar (CAT) | "In addition, our partnership with Caterpillar strengthens our capabilities in distributed power generation and backup solutions for critical infrastructure applications." |

Other companies that name VRT in their own reports (relationship from VRT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| competitor | Forgent Power Solutions, Inc. (FPS) | 10-K 2026-09-15 | "In the Data Center market, we compete with Vertiv Holdings Co.'s power management products business;" |
| competitor | EnerSys (ENS) | 10-K 2026-05-20 | "We compete principally with East Penn Manufacturing, Exide Technologies (Stryten), Fiamm, SAFT, Hoppecke, New Power, C&D Technologies Inc., Vertiv, OmniOn Power,Yuasa, Amphenol, Delta Electronics, as …" |
| partner | Keel Infrastructure Corp. (KEEL) | 10-K 2026-03-31 | "committed $129 million for critical equipment and building materials through a turnkey agreement with Vertiv." |
| competitor | AirJoule Technologies Corp. (AIRJ) | 10-K 2026-03-31 | "In September 2025, we were selected as one of three winners, from more than seventy applicants, of the Net Zero Innovation Hub for Data Centers competition, a technology acceleration program backed by…" |
| customer | TECOGEN INC. (TGEN) | 10-K 2026-03-19 | "On February 28, 2025, to effectively begin the marketing of our product solutions to co-location data centers, we signed a global partnership agreement with Vertiv Corporation ("Vertiv") for the sale …" |
| competitor | AAON, INC. (AAON) | 10-K 2026-03-02 | "Our thermal management products primarily compete with Vertiv (Vertiv Holdings Co.), STULZ (STULZ Air Technology Systems, Inc.), Munters, Silent Aire (Johnson Controls International PLC), Nortek (Nort…" |
| competitor | Clearfield, Inc. (CLFD) | 10-K 2025-11-25 | "Competitors to the FieldSmart product lines include, but are not limited to, products offered by Corning Cabling Systems, Inc., OFS (Furukawa Electric North America, Inc.), AFL Telecommunications (a s…" |
| competitor | Johnson Controls International plc (JCI) | 10-K 2025-11-14 | "Vertiv Holdings Co., API Group and Daikin Industries, Ltd. In addition, the Company competes in a highly fragmented building services market." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Americas | $2.07B | 63.2% | +29.2% | $571.4M | 27.6% |
| Asia Pacific | $719.9M | 22.0% | +28.5% | $95.6M | 13.3% |
| Europe, Middle East, & Africa | $483.6M | 14.8% | +1.7% | $124.2M | 25.7% |
| Total revenue | $3.27B | 100% | — | $637.9M | 19.5% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Products | $2.65B | 80.8% | +22.2% |
| Products | $1.67B | 50.9% | +26.1% |
| Services | $627.6M | 19.2% | +32.9% |
| Services & spares | $404.7M | 12.4% | +43.8% |
| Total revenue | $3.27B | 100% | — |
The lines above cover 163.2% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| UNITED STATES | $6.01B | 58.8% | +47.2% |
| Asia | $2.02B | 19.7% | +18.7% |
| Europe | $1.47B | 14.4% | -3.2% |
| Latin America & Canada | $436.9M | 4.3% | +2.3% |
| Middle East & Africa | $284.5M | 2.8% | +3.8% |
| Total revenue | $10.23B | 100% | — |

## Company outlook (8-K filed 2026-07-29)

- "Full Year 2026 Guidance • Expects full year 2026 net sales of $14,000 million and organic sales growth of 31%, each at the midpoint of guidance, compared to full year 2025. • Expects full year 2026 diluted EPS of $5.82 to $5.92 and adjusted diluted EPS of $6.65 to $6.75, a midpoint increase of 72% and 60%, respectively, compared to full year 2025."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.82 | $1.78 | +2.2% | $3.76B | 25 |
| Next quarter (ends 2026-12-31) | $2.21 | $2.04 | +8.4% | $4.31B | 25 |
| Current fiscal year (ends 2026-12-31) | $6.73 | $6.48 | +3.9% | $14.00B | 29 |
| Next fiscal year (ends 2027-12-31) | $9.19 | $8.83 | +4.2% | $18.27B | 30 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-28): ±12.3%; last 8 reports averaged ±9.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 102.3% | ±12.3% |
| 2026-11-06 | 14 | 86.0% | ±13.9% |
| 2026-11-13 | 21 | 75.9% | ±14.8% |
| 2026-11-20 | 28 | 70.7% | ±15.8% |
| 2026-11-27 | 35 | 66.6% | ±16.5% |
| 2026-12-04 | 42 | 64.1% | ±17.4% |
| 2026-12-18 | 56 | 62.6% | ±19.5% |
| 2027-01-15 | 84 | 58.2% | ±22.1% |