Vertiv Holdings Co
investors.vertiv.comWhat Do They Do?
Sells power and cooling equipment, digital infrastructure software, and infrastructure services to data centers, communications networks, and commercial and industrial customers.
10-K for FY2025, filed Feb 13, 2026
How Do They Make Money?
Products (82% of revenue) bring in revenue when shipped or delivered; custom products built at a customer’s site bring it in as they are built. Service work brings in revenue as provided or over stand-ready service terms, and software applications when transferred.
10-K for FY2025, filed Feb 13, 2026The Company identifies delivery of products as performance obligations. Such products include AC and DC power management, thermal…View ↗
For customized products that the customer controls at the customer’s site while the Company builds and customizes the product, the Company…View ↗
Services include preventative maintenance, acceptance testing, engineering and consulting, performance assessments, remote monitoring…View ↗
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10-K for FY2025, filed Feb 13, 2026
FY2025 revenue by product or service ↗
$10.2B
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10-K for FY2025, filed Feb 13, 2026
$10.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Products
Sold outright
10-K for FY2025, filed Feb 13, 2026 |
82%
FY2022: 76%
|
Products, FY2025
$8.4B Sources
|
Sold outright |
|
Services
Mix
10-K for FY2025, filed Feb 13, 2026 |
18%
FY2022: 24%
|
Services, FY2025
$1.8B Sources
|
Mix |
Who Are Their Customers?
Data center operators—including hyperscale/cloud, colocation, neocloud and enterprise operators—along with communications networks and commercial and industrial customers buy Vertiv’s systems. Sales are primarily direct, supplemented by independent representatives, channel partners, distributors, IT resellers and value-added retailers.
10-K for FY2025, filed Feb 13, 2026Our customers operate in some of the world's most critical industries. We primarily serve customers across three main end markets: (1) data…View ↗
We engage these industries and end users through our global network of direct sales professionals, independent sales representatives…View ↗
Our customers are located across the globe. We go to market through multiple channels to ensure that we map our coverage to our customers’…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 13 cents of every revenue dollar as net income in FY2025 and turned 19 cents into free cash flow.
10-K for FY2025, filed Feb 13, 2026
$1.8BView ↗
10-K for FY2025, filed Feb 13, 2026
$1.3BView ↗
10-K for FY2025, filed Feb 13, 2026
$1.9BView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 29, 2026
$497.8MView ↗
- ▲ +54%
- vs $324.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
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Sep 2, 2026
Agreed to acquire UtilityInnovation Group
The proposed acquisition adds microgrid controls, onsite generation orchestration and behind-the-meter power architecture for data centers.
Sources
8-K, filed Sep 2, 2026
Vertiv Corporation, an Ohio corporation (“Buyer”) and Vultra Merger Sub, Inc., a Delaware corporation (“Merger Sub”), a wholly-owned…View ↗
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Jun 12, 2026
Closed acquisition of ThermoKey
Sources
8-K, filed Jun 12, 2026
On June 12, 2026, Vertiv Holdings Co., a Delaware corporation (the “Company”), issued a press release announcing the closing, by one of its…View ↗
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Apr 27, 2026
Closed acquisition of Strategic Thermal Labs
Sources
8-K, filed Apr 27, 2026
On April 27, 2026, Vertiv Holdings Co., a Delaware corporation (the “Company”), issued a press release announcing the closing, by one of…View ↗
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Apr 13, 2026
Closed acquisition of BMarko Structures
Sources
8-K, filed Apr 13, 2026
On April 13, 2026, Vertiv Holdings Co., a Delaware corporation (the “Company”), issued a press release announcing the closing, by one of…View ↗
Growing. Revenue grew 2.0x in 4 years, from $5B in FY2021 to $10.2B in FY2025, about 20% a year.
Who Do They Compete With?
Competes with Delta Electronics, Stulz, Johnson Controls International, Socomec, Schneider Electric, Eaton, Legrand, and Huawei Investment & Holding
10-K for FY2025, filed Feb 13, 2026The majority of our competitors target a specific offering or a specific geographic location. Competition in our markets is primarily on…View ↗
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