Financials · VRT

Vertiv Holdings LLC (VRT) financials

For the twelve months ended Sep 30, 2026, Vertiv Holdings LLC reported $13.12B of revenue and $2.10B of net income.

Revenue, TTM
$13.12B
Revenue growth, YoY
+35.3%
Net income, TTM
$2.10B
Net income growth, YoY
+102.9%
Net margin
16.0%
Free cash flow, TTM
$3.15B
EPS, diluted, TTM
$5.35
EPS growth, YoY
+101.9%
Cash
$3.51B
Total debt
$2.93B
P/E
33.56
P/S
5.37
Market cap
$70.41B
Annual revenue$10.23B
FY2017FY2025
Annual net income$1.33B
FY2016FY2025
Annual free cash flow$1.89B
FY2018FY2025

VRT revenue and earnings growth

VRT revenueQ3 2026$4.31B

Quarter YoY
+61.2%
QoQ
+31.7%
FY YoY
+27.7%
5Y CAGR
+18.5%

VRT revenue was $4.31B in fiscal Q3 2026 (ended Sep 30, 2026), up 61.2% from a year earlier and up 31.7% from the prior quarter. For the full fiscal 2025 it was $10.23B, up 27.7% from fiscal 2024. Compound annual growth was +18.5% over 5 years. It rose in 6 of the last 7 fiscal years. Fiscal 2025 is the highest of the 9 fiscal years on file.

VRT net incomeQ3 2026$764.50M

Quarter YoY
+91.8%
QoQ
+53.6%
FY YoY
+168.8%

VRT net income was $764.50M in fiscal Q3 2026 (ended Sep 30, 2026), up 91.8% from a year earlier and up 53.6% from the prior quarter. For the full fiscal 2025 it was $1.33B, up 168.8% from fiscal 2024. It rose in 3 of the last 4 fiscal years. Fiscal 2025 is the highest of the 10 fiscal years on file.

VRT EPSQ3 2026$1.95

Quarter YoY
+91.2%
QoQ
+53.5%
FY YoY
+166.4%

VRT diluted EPS was $1.95 in fiscal Q3 2026 (ended Sep 30, 2026), up 91.2% from a year earlier and up 53.5% from the prior quarter. For the full fiscal 2025 it was $3.41, up 166.4% from fiscal 2024.

VRT free cash flowQ3 2026$654.90M

Quarter YoY
+49.7%
QoQ
-29.3%
FY YoY
+64.3%
5Y CAGR
+63.0%

VRT free cash flow was $654.90M in fiscal Q3 2026 (ended Sep 30, 2026), up 49.7% from a year earlier and down 29.3% from the prior quarter. For the full fiscal 2025 it was $1.89B, up 64.3% from fiscal 2024. Compound annual growth was +63.0% over 5 years. Fiscal 2025 is the highest of the 8 fiscal years on file.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$10.23B$8.01B$6.86B$5.69B$5.00B$4.37B$4.43B$4.29B$0-
Cost of revenue$6.51B$5.08B$4.46B$4.08B$3.48B$2.90B$2.98B$2.87B--
Gross profit$3.72B$2.93B$2.40B$1.62B$1.52B$1.47B$1.45B$1.42B--
Research and development$441.70M$367.60M$303.50M$282.00M$266.40M$228.60M$229.40M$198.30M--
Selling, general and admin$1.62B$1.37B$1.31B$1.18B$1.11B$1.01B$1.10B$1.22B$1.3K-
Operating income$1.83B$1.37B$872.20M$223.40M$259.90M$213.50M$206.10M---
Interest expense$86.10M$150.40M$180.10M$147.30M$90.60M$150.40M$310.40M$288.80M--
Pre-tax income$1.74B$765.40M$533.70M$167.00M$166.20M-$254.60M-$104.30M-$271.00M-$1.3K-
Income tax$409.10M$269.60M$73.50M$90.40M$46.60M$72.70M$36.50M$49.90M$0-
Net income$1.33B$495.80M$460.20M$76.60M$119.60M-$327.30M-$140.80M-$314.00M-$1.3K-$303.4K
EPS, basic$3.49$1.32$1.21$0.20$0.34-$1.07-$1.19-$2.65--
EPS, diluted$3.41$1.28$1.19-$0.04$0.33-$1.07-$1.19-$2.65--
Diluted shares390.7M386.3M386.2M378.2M360.1M307.1M118.3M118.3M--

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$1.73B$1.23B$780.40M$273.20M$447.10M$542.60M$233.70M$225.30M$398.20M-
Receivables$3.11B$2.36B$2.12B$1.89B$1.54B$1.35B$1.21B---
Inventory$1.46B$1.24B$884.30M$822.00M$616.30M$446.60M$401.00M---
Current assets$6.82B$5.10B$4.00B$3.16B$2.70B$2.52B$2.02B$1.18M$25.0K-
Goodwill$2.03B$1.32B$1.33B$1.28B$1.33B$607.20M$605.80M$634.00M--
Total assets$12.21B$9.13B$8.00B$7.10B$6.94B$5.07B$4.66B$697.34M$25.0K-
Current liabilities$4.41B$3.10B$2.31B$1.90B$1.85B$1.74B$1.52B$1.28M$1.3K-
Short-term debt$20.90M$21.00M$21.80M$21.80M$21.80M$22.00M$0---
Long-term debt$2.89B$2.91B$2.92B$3.17B$2.95B$2.13B$3.47B---
Total debt$2.91B$2.93B$2.94B$3.19B$2.97B$2.15B$3.47B---
Total liabilities$8.27B$6.70B$5.98B$5.65B$5.52B$4.56B$5.36B$25.43M$1.3K-
Shareholders' equity$3.94B$2.43B$2.01B$1.44B$1.42B$512.10M-$704.80M-$540.30M-$129.60M$25.0K

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$2.11B$1.32B$900.50M-$152.80M$210.90M$208.90M$57.50M-$221.90M--$25.0K
Capital expenditures$220.00M$167.00M$127.90M$100.00M$73.40M$44.40M$47.60M$64.60M--
Free cash flow$1.89B$1.15B$772.60M-$252.80M$137.50M$164.50M$9.90M-$286.50M--
Investing cash flow-$1.50B-$201.70M-$139.10M-$112.10M-$1.22B-$45.70M-$65.30M-$207.70M--
Financing cash flow-$72.30M-$652.10M-$247.50M$100.20M$914.90M$140.70M$14.80M$245.10M-$25.0K
Dividends paid$66.60M$42.20M$9.50M$3.80M$3.80M$3.30M$0$0--
Share repurchases$0$599.90M$0$0------
Stock-based compensation$45.90M$34.60M$25.00M$24.70M$23.20M$13.00M$0$0--
Depreciation and amortization$308.60M$277.00M$271.00M$302.40M$227.00M$203.10M$202.90M$217.00M--

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY27.7%16.7%20.6%13.9%14.4%-1.4%3.4%---
Net income growth, YoY168.8%7.7%500.8%-36.0%------
EPS growth, YoY166.4%7.6%--------
Gross margin36.3%36.6%35.0%28.4%30.5%33.7%32.8%33.1%--
Operating margin17.9%17.1%12.7%3.9%5.2%4.9%4.7%---
Net margin13.0%6.2%6.7%1.3%2.4%-7.5%-3.2%-7.3%--
Free cash flow margin18.5%14.4%11.3%-4.4%2.8%3.8%0.2%-6.7%--
Return on equity33.8%20.4%22.8%5.3%8.4%-63.9%----1213.7%
Return on assets10.9%5.4%5.8%1.1%1.7%-6.5%-3.0%-45.0%-5.1%-
Current ratio1.551.651.741.661.451.451.330.9219.59-
Debt to equity0.741.201.462.212.104.20----

Source: XBRL data Vertiv Holdings LLC files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

VRT peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
VRT$13.12B+35.3%$2.10B16.0%$70.41B
ASML€32.67B+15.6%€9.61B29.4%$549.12B
TMO$47.35B+8.3%$7.07B14.9%$257.42B
LRCX$26.13B+33.4%$8.45B32.3%$250.38B
DE$47.98B+8.0%$4.87B10.2%$181.09B
DHR$25.61B+5.5%$4.33B16.9%$161.98B
ETN$31.98B+20.1%$3.90B12.2%$132.76B
JCI$24.43B+5.1%$3.53B14.5%$81.79B
ITW$16.65B+4.8%$3.23B19.4%$79.84B

VRT FAQ

9 questions
  • What is VRT revenue?
    Vertiv Holdings LLC (VRT) reported $13.12B of revenue for the twelve months ended Sep 30, 2026. That is up 35.3% from the year before. Revenue for fiscal 2025 was $10.23B.
  • Is VRT profitable?
    Yes. Vertiv Holdings LLC earned $2.10B in net income for the twelve months ended Sep 30, 2026, a net margin of 16.0%.
  • How much cash and debt does VRT have?
    Vertiv Holdings LLC reported $3.51B in cash and cash equivalents and $2.93B of debt on its most recent balance sheet in SEC filings.
  • How fast is VRT revenue growing?
    Vertiv Holdings LLC's revenue changed +27.7% in fiscal 2025, to $10.23B. Its compound annual growth rate was +18.5% over 5 years.
  • What is VRT gross margin?
    Vertiv Holdings LLC's gross profit was $5.00B on $13.12B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 38.1%.
  • What is VRT free cash flow?
    Vertiv Holdings LLC generated $3.15B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $3.67B less capital expenditures.
  • What is VRT earnings per share?
    Diluted earnings per share were $5.35 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did VRT last report financial results?
    The latest statements here come from Vertiv Holdings LLC's 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this VRT financial data come from?
    Quantisnow builds these statements from the structured XBRL data Vertiv Holdings LLC files with the SEC. It is provided for information only and is not investment advice.