Vertiv Holdings
VRT on NYSE. Vertiv sells power and cooling equipment to data centers and communication networks. Market value $97.6bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Industrials stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.99 of spare cash in the past 12 months. A savings account pays about $4.
You pay 45.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 17 cents a year. Above 10 is good.
Quality score: 92 of 100. Price score: 26 of 100. Our list needs 70 on quality and 60 on price.
$253.62 a share, 72% above its 1-year low
Over the past year the price has ranged from $147.82 to $379.93.
Dividend: 0.1% a year
Paid every year for at least 5 years
Payouts have jumped around in recent years, so this may not repeat.
Prices from Monday’s close (5 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $2.9 billion in the past 12 months, $1.9 billion in the year to December 2025.
| Revenue | |||||
| Revenue | $5.0bn | $5.7bn | $6.9bn | $8.0bn | $10.2bn |
| Operating margin | |||||
| Operating margin | 5.2% | 3.9% | 12.7% | 17.1% | 17.9% |
| Debt to equity | |||||
| Debt to equity | 2.10 | 2.21 | 1.46 | 1.20 | 0.74 |
| Shares outstanding | |||||
| Shares outstanding | 0.38bn | 0.38bn | 0.38bn | 0.38bn | 0.38bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 9
- Profit backed by cash (accruals)Yes
- Debt0.74× equity
- Revenue growth, five yearsStrong, 18.5% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $3.3 billion last quarter, up 24% on a year ago.
- Profit: $498 million, up 54% on a year ago.
- It keeps 19 cents of each $1 of sales as operating profit, up from 17 cents a year earlier.
- Spare cash over the past 12 months: $2.9 billion, up from $1.2 billion.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $129 million more than cash, down from $1.3 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $2.1bn |
| December 2024 | $2.3bn |
| March 2025 | $2.0bn |
| June 2025 | $2.6bn |
| September 2025 | $2.7bn |
| December 2025 | $2.9bn |
| March 2026 | $2.6bn |
| June 2026 | $3.3bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $177m |
| December 2024 | $147m |
| March 2025 | $165m |
| June 2025 | $324m |
| September 2025 | $399m |
| December 2025 | $446m |
| March 2026 | $390m |
| June 2026 | $498m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 21 October 2026
- Last annual report (10-K)
- 13 February 2026
- Next quarterly (estimated, 10-Q)
- 28 October 2026
Who owns it
10 long-term investors we follow own it, unchanged from 10 last quarter. 2,049 funds in all.
- Leon Cooperman (Omega Family Office)Leon Cooperman
- Value
- $722m
- Share of fund
- 20.4%
- Auxier Asset ManagementJeff Auxier
- Value
- $398,436
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Leon Cooperman (Omega Family Office)Leon Cooperman | $722m | 20.4% | |
| First Manhattan Co.First Manhattan partners | $129m | 0.3% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $72m | 0.2% | Added |
| Mawer Investment ManagementMawer team | $24m | 0.2% | Added |
| FundsmithTerry Smith | $14m | 0.1% | Cut |
| Horizon KineticsMurray Stahl | $4m | <0.1% | Cut |
| Platinum Investment ManagementPlatinum team | $3m | 0.7% | Cut |
| GMOJeremy Grantham | $2m | <0.1% | Cut |
| Auxier Asset ManagementJeff Auxier | $398,436 | <0.1% | |
| Mairs & PowerAndy Adams | $261,160 | <0.1% | New |
Sold out this quarter
- Barrow HanleyBarrow Hanley teamSold out
Largest holders overall
- BlackRock$12.0bnCut
- Vanguard Capital Management$8.4bn
- Vanguard Portfolio Management$6.0bn
- State Street$5.5bnAdded
- JPMorgan Chase$3.1bnAdded
- Price T Rowe Associates$3.1bnAdded
- Geode Capital Management$3.0bnCut
- Bank of America$2.8bn
- Morgan Stanley$2.3bnAdded
- Invesco$1.9bnCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- BlackRock, Inc.Passive investor7.8%+2.2 ptsSince 31 March 2026
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.8%+2.2 pts | 31 March 2026 | |
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $128m, $23m of it under preset trading plans.
- MONSER EDWARD LDirectorSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 15,287
- Price
- $253.82
- Value
- $4m
- MONSER EDWARD LDirectorSoldunder a preset trading plan
- Date
- 6 March 2026
- Shares
- 77,294
- Price
- $245.49
- Value
- $19m
- FRADIN ROGERDirectorSold
- Date
- 27 February 2026
- Shares
- 101,666
- Price
- $252.13
- Value
- $26m
- REINEMUND STEVENDirectorSold
- Date
- 26 February 2026
- Shares
- 100,000
- Price
- $253.95
- Value
- $25m
- Karlborg AndersEVP, Man., Logistics and Op ExSold
- Date
- 26 February 2026
- Shares
- 30,487
- Price
- $246.92
- Value
- $8m
- FRADIN ROGERDirectorSold
- Date
- 26 February 2026
- Shares
- 101,667
- Price
- $253.42
- Value
- $26m
- DOKKUM JAN VANDirectorSold
- Date
- 26 February 2026
- Shares
- 38,647
- Price
- $254.87
- Value
- $10m
- COTE DAVID MExecutive Chairman, DirectorSold
- Date
- 26 February 2026
- Shares
- 40,000
- Price
- $255.29
- Value
- $10m
- Liang StephenChief Technology Officer & EVPSold
- Date
- 24 November 2025
- Shares
- 5,501
- Price
- $170.48
- Value
- $937,810
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 September 2026 | MONSER EDWARD L Director | Sold under a preset trading plan | 15,287 | $253.82 | $4m |
| 6 March 2026 | MONSER EDWARD L Director | Sold under a preset trading plan | 77,294 | $245.49 | $19m |
| 27 February 2026 | FRADIN ROGER Director | Sold | 101,666 | $252.13 | $26m |
| 26 February 2026 | REINEMUND STEVEN Director | Sold | 100,000 | $253.95 | $25m |
| 26 February 2026 | Karlborg Anders EVP, Man., Logistics and Op Ex | Sold | 30,487 | $246.92 | $8m |
| 26 February 2026 | FRADIN ROGER Director | Sold | 101,667 | $253.42 | $26m |
| 26 February 2026 | DOKKUM JAN VAN Director | Sold | 38,647 | $254.87 | $10m |
| 26 February 2026 | COTE DAVID M Executive Chairman, Director | Sold | 40,000 | $255.29 | $10m |
| 24 November 2025 | Liang Stephen Chief Technology Officer & EVP | Sold | 5,501 | $170.48 | $937,810 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It isn't cheap on profits: 45.0× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.