VRTNYSEElectronic Components, NECFiscal year ends December 31
Vertiv Holdings Co
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$206.08−0.34 (-0.16%)
Close on Oct 19, 2026
- Market cap
- $80.94B
- P/E (TTM)
- 46.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
36.3%+2.6 pts over 5 years
Operating margin
17.9%+13.0 pts over 5 years
Net margin
13.0%+20.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +27.7% | +21.6% | +18.5% | – | |
| Gross profit | +26.6% | +32.0% | +20.3% | – | |
| Operating income | +33.8% | +101.6% | +53.7% | – | |
| Net income | +168.8% | +159.1% | – | – | |
| EPS, diluted | +166.4% | – | – | – | |
| Free cash flow | +64.3% | – | +63.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 339.7% | 41.8% | |
| Return on assets | – | -6.7% | 12.5% | |
| Current ratio | – | 1.45 | 1.55 | |
| Debt to equity | – | 4.20 | 0.74 | |
| Net debt to EBITDA | – | 3.86× | 0.55× | |
| Interest coverage | – | 1.4× | 21.3× | |
| Inventory turnover | – | 6.8× | 4.8× | |
| Capex to revenue | – | 1.0% | 2.2% | |
| Diluted shares | – | 307M | 391M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Vertiv generated $4.70B from operations and spent $1.41B on capital expenditure, dividends and share buybacks. 49% of that went back into the business.
Generated
$4.70B
Used
$1.41B
Capital expenditure$688.30M49%Dividends$125.90M9%Share buybacks$599.90M42%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin13.0%
×Asset turnover0.96×
×Equity multiplier3.35×
=Return on equity, FY202541.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 13.0% | 0.96× | 3.35× | 41.8% |
| FY2024 | 6.2% | 0.94× | 3.85× | 22.3% |
| FY2023 | 6.7% | 0.91× | 4.37× | 26.6% |
| FY2022 | 1.3% | 0.81× | 4.91× | 5.4% |
| FY2021 | 2.4% | 0.83× | 6.23× | 12.4% |
| FY2020 | -7.5% | 0.90× | -50.50× | 339.7% |
| FY2019 | -3.2% | 1.66× | -4.30× | 22.6% |
| FY2018 | -7.3% | 12.29× | -1.04× | 93.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.33B
- Cash generatingOperating cash flow above zero$2.11B
- Return on assets improvedROA up on the prior year6.2% → 14.6%
- Earnings backed by cashOperating cash flow above net income$2.11B vs $1.33B
- Less leverageLong-term debt to assets fell31.8% → 23.7%
- Better liquidityCurrent ratio rose1.65 → 1.55
- No dilutionShare count did not rise386M → 391M
- Gross margin improvedGross margin up on the prior year36.62% → 36.32%
- More efficientAsset turnover rose1.00 → 1.12