Recent News
On March 3, 2026 the company completed a $2.1 billion senior unsecured notes offering and closed a new $2.5 billion senior unsecured revolving credit facility, alongside one‑notch upgrades from S&P and Moody’s. On March 23, 2026 Vertiv joined the S&P 500, increasing passive‑fund demand and index visibility. During March the company announced multiple U.S. manufacturing expansions, including an Ironton, Ohio investment to boost thermal management and cabinet capacity. On March 6, 2026 the board declared a quarterly cash dividend of $0.0625 per share.
Technical Analysis
Directional indicators show a bullish bias: DI+ sits at 30.53 with a dip‑and‑reversal, and DI‑ at 21.45 shows a peak‑and‑reversal, both consistent with DI signals favoring upside. ADX at 19.52 signals that trend strength remains low despite that bullish bias, so directional conviction lacks force.
MACD reads 15.31 with the MACD above its 14.57 signal line, yielding a bullish MACD crossover; however the MACD trend registered a peak‑and‑reversal, which signals waning momentum even as the histogram remains positive.
MRO stands at 33.46 with a dip‑and‑reversal; because the MRO value sits positive, the price currently sits above the model target and the indicator implies potential mean reversion risk from this level.
RSI at 62.47 with a peak‑and‑reversal indicates elevated but not extreme momentum and suggests the recent run may pause or pull back before further sustained gains.
Price trades well above short and long moving averages: the 12‑day EMA at $315.64 (increasing), the 20‑day average at $314.37, the 50‑day at $277.56, and the 200‑day at $192.99; the last close at $330.97 sits near the 52‑week high of $331.97 and slightly above the upper 1x Bollinger band at $327.36, pointing to a price near the short‑term upper bound of its volatility envelope.
Fundamental Analysis
Revenue totaled $2,649,500,000 for the period. YoY revenue change shows a decline of 39.50%, with the most recent QoQ revenue change at -204.88%. Gross profit reached $999,700,000 producing a gross margin of 37.73%, while operating (EBIT) margin stands at 16.37%—an improvement versus peers: the industry peer mean EBIT margin equals 6.162% and the industry peer median equals 11.017%, so Vertiv’s EBIT margin sits above both the industry peer mean and median. EBIT totaled $433,600,000 and EBITDA $541,300,000.
Earnings per share came in at $1.17 versus an estimate of $1.01, a positive EPS surprise of 15.84%. Forward EPS consensus sits near $2.15 with a forward P/E around 112.13; the trailing P/E reads 214.69 while the price‑to‑book ratio equals 22.72, below the industry peer mean price‑to‑book of 44.99.
Cash and liquidity remain sizable: cash $2,150,600,000 and cash plus short‑term investments $2,500,500,000 against total debt of $3,264,900,000 and net debt of $771,600,000. The interest coverage ratio stands at 25.96x, indicating ample earnings coverage of interest expense despite a debt‑to‑EBITDA of 6.03x. Free cash flow totaled $652,800,000 (free cash flow yield ~0.68%), and operating cash flow reached $766,800,000. Free cash flow to net income is 167.34%, supporting operational cash conversion.
Return metrics show return on equity of 9.19% and return on assets of 3.05%, with year‑over‑year improvement in returns: ROE YoY +48.97% and ROA YoY +72.09%. Asset turnover sits at 0.2069, modest but slightly above the industry peer mean of 0.1672. Balance‑sheet liquidity ratios: current ratio 1.494 and quick ratio 1.151.
WMDST values the stock as under‑valued based on the firm’s strengthened liquidity, improved margin profile relative to the industry peer mean and median, and recent financing that extends maturities and lowers refinancing risk.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-22 |
| NEXT REPORT DATE: | 2026-07-22 |
| CASH FLOW | Begin Period Cash Flow | $ 1.8 B |
| Operating Cash Flow | $ 766.8 M | |
| Capital Expenditures | $ -114.00 M | |
| Change In Working Capital | $ 227.8 M | |
| Dividends Paid | $ -23.90 M | |
| Cash Flow Delta | $ 401.4 M | |
| End Period Cash Flow | $ 2.2 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 2.6 B | |
| Forward Revenue | $ 1.4 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.6 B | |
| Depreciation | $ 27.5 M | |
| Depreciation and Amortization | $ 107.7 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 2.2 B | |
| PROFITABILITY | ||
| Gross Profit | $ 999.7 M | |
| EBITDA | $ 541.3 M | |
| EBIT | $ 433.6 M | |
| Operating Income | $ 433.6 M | |
| Interest Income | $ 4.4 M | |
| Interest Expense | — | |
| Net Interest Income | $ 4.4 M | |
| Income Before Tax | $ 438.3 M | |
| Tax Provision | $ 48.2 M | |
| Tax Rate | 11.0 % | |
| Net Income | $ 390.1 M | |
| Net Income From Continuing Operations | $ 390.1 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.01 | |
| EPS Actual | $ 1.17 | |
| EPS Difference | $ 0.16 | |
| EPS Surprise | 15.842 % | |
| Forward EPS | $ 2.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 13.4 B | |
| Intangible Assets | $ 3.8 B | |
| Net Tangible Assets | $ 415.2 M | |
| Total Current Assets | $ 8.0 B | |
| Cash and Short-Term Investments | $ 2.5 B | |
| Cash | $ 2.2 B | |
| Net Receivables | $ 3.1 B | |
| Inventory | $ 1.8 B | |
| Long-Term Investments | $ 79.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 2.0 B | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 5.3 B | |
| Net Debt | $ 771.6 M | |
| Total Debt | $ 3.3 B | |
| Total Liabilities | $ 9.2 B | |
| EQUITY | ||
| Total Equity | $ 4.2 B | |
| Retained Earnings | $ 1.4 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 11.06 | |
| Shares Outstanding | 383.954 M | |
| Revenue Per-Share | $ 6.90 | |
| VALUATION | Market Capitalization | $ 96.4 B |
| Enterprise Value | $ 97.2 B | |
| Enterprise Multiple | 179.584 | |
| Enterprise Multiple QoQ | 74.625 % | |
| Enterprise Multiple YoY | 83.978 % | |
| Enterprise Multiple IPRWA | high: 492.386 median: 492.386 mean: 428.913 VRT: 179.584 low: -46.664 |
|
| EV/R | 36.69 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 3.157 | |
| Asset To Liability | 1.464 | |
| Debt To Capital | 0.435 | |
| Debt To Assets | 0.244 | |
| Debt To Assets QoQ | -7.817 % | |
| Debt To Assets YoY | -26.757 % | |
| Debt To Assets IPRWA | high: 0.632 median: 0.632 mean: 0.563 VRT: 0.244 low: 0.056 |
|
| Debt To Equity | 0.769 | |
| Debt To Equity QoQ | -6.088 % | |
| Debt To Equity YoY | -34.771 % | |
| Debt To Equity IPRWA | high: 3.2 median: 3.2 mean: 2.815 VRT: 0.769 low: 0.062 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 22.72 | |
| Price To Book QoQ | 33.021 % | |
| Price To Book YoY | 79.829 % | |
| Price To Book IPRWA | high: 50.811 median: 50.811 mean: 44.991 VRT: 22.72 low: 0.603 |
|
| Price To Earnings (P/E) | 214.69 | |
| Price To Earnings QoQ | 65.926 % | |
| Price To Earnings YoY | 55.397 % | |
| Price To Earnings IPRWA | high: 374.411 mean: 327.197 VRT: 214.69 median: 129.343 low: -47.844 |
|
| PE/G Ratio | -15.367 | |
| Price To Sales (P/S) | 36.401 | |
| Price To Sales QoQ | 55.732 % | |
| Price To Sales YoY | 119.996 % | |
| Price To Sales IPRWA | high: 183.367 median: 62.34 mean: 60.607 VRT: 36.401 low: 7.857 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 112.133 | |
| Forward PE/G | -8.026 | |
| Forward P/S | 72.751 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.152 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.207 | |
| Asset Turnover Ratio QoQ | -17.284 % | |
| Asset Turnover Ratio YoY | -5.581 % | |
| Asset Turnover Ratio IPRWA | high: 0.268 VRT: 0.207 mean: 0.167 median: 0.166 low: 0.013 |
|
| Receivables Turnover | 0.847 | |
| Receivables Turnover Ratio QoQ | -12.972 % | |
| Receivables Turnover Ratio YoY | -2.817 % | |
| Receivables Turnover Ratio IPRWA | high: 5.972 mean: 2.067 median: 2.054 VRT: 0.847 low: 0.142 |
|
| Inventory Turnover | 1.003 | |
| Inventory Turnover Ratio QoQ | -17.518 % | |
| Inventory Turnover Ratio YoY | -2.384 % | |
| Inventory Turnover Ratio IPRWA | VRT: 1.003 high: 0.806 median: 0.764 mean: 0.761 low: 0.255 |
|
| Days Sales Outstanding (DSO) | 107.759 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 96.94 | |
| Cash Conversion Cycle Days QoQ | 24.537 % | |
| Cash Conversion Cycle Days YoY | -4.743 % | |
| Cash Conversion Cycle Days IPRWA | high: 819.02 mean: 125.105 median: 123.408 low: 122.529 VRT: 96.94 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.003 | |
| CapEx To Revenue | -0.043 | |
| CapEx To Depreciation | -4.145 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 7.2 B | |
| Net Invested Capital | $ 7.2 B | |
| Invested Capital | $ 7.2 B | |
| Net Tangible Assets | $ 415.2 M | |
| Net Working Capital | $ 2.6 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.468 | |
| Current Ratio | 1.494 | |
| Current Ratio QoQ | -3.43 % | |
| Current Ratio YoY | -12.884 % | |
| Current Ratio IPRWA | high: 20.926 mean: 6.391 median: 5.026 VRT: 1.494 low: 1.072 |
|
| Quick Ratio | 1.151 | |
| Quick Ratio QoQ | -5.418 % | |
| Quick Ratio YoY | -10.137 % | |
| Quick Ratio IPRWA | high: 6.51 median: 4.095 mean: 4.044 VRT: 1.151 low: 0.806 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.032 | |
| Cost Of Debt | 0.458 % | |
| Interest Coverage Ratio | 25.964 | |
| Interest Coverage Ratio QoQ | -25.228 % | |
| Interest Coverage Ratio YoY | 125.969 % | |
| Interest Coverage Ratio IPRWA | high: 62.767 VRT: 25.964 median: 9.616 mean: -8.533 low: -209.862 |
|
| Operating Cash Flow Ratio | 0.052 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 96.203 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 16.322 | |
| Dividend Payout Ratio | 0.061 | |
| Dividend Rate | $ 0.06 | |
| Dividend Yield | 0.0 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 9.725 % | |
| Revenue Growth | -8.003 % | |
| Revenue Growth QoQ | -204.875 % | |
| Revenue Growth YoY | -39.504 % | |
| Revenue Growth IPRWA | high: 20.991 % mean: -3.226 % low: -3.424 % median: -3.424 % VRT: -8.003 % |
|
| Earnings Growth | -13.971 % | |
| Earnings Growth QoQ | -244.373 % | |
| Earnings Growth YoY | -60.483 % | |
| Earnings Growth IPRWA | high: 24.419 % mean: -2.182 % median: -5.882 % VRT: -13.971 % low: -44.086 % |
|
| MARGINS | ||
| Gross Margin | 37.732 % | |
| Gross Margin QoQ | -3.097 % | |
| Gross Margin YoY | 11.905 % | |
| Gross Margin IPRWA | VRT: 37.732 % high: 31.326 % median: 30.03 % mean: 29.302 % low: -147.173 % |
|
| EBIT Margin | 16.365 % | |
| EBIT Margin QoQ | -18.724 % | |
| EBIT Margin YoY | 14.617 % | |
| EBIT Margin IPRWA | VRT: 16.365 % high: 11.017 % median: 11.017 % mean: 6.162 % low: -2074.074 % |
|
| Return On Sales (ROS) | 16.365 % | |
| Return On Sales QoQ | -22.341 % | |
| Return On Sales YoY | 14.617 % | |
| Return On Sales IPRWA | VRT: 16.365 % high: 9.612 % median: 9.612 % mean: 5.287 % low: -1777.388 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 652.8 M | |
| Free Cash Flow Yield | 0.677 % | |
| Free Cash Flow Yield QoQ | -48.439 % | |
| Free Cash Flow Yield YoY | -13.758 % | |
| Free Cash Flow Yield IPRWA | VRT: 0.677 % high: 0.101 % median: 0.101 % mean: -0.131 % low: -8.817 % |
|
| Free Cash Growth | -26.145 % | |
| Free Cash Growth QoQ | -128.63 % | |
| Free Cash Growth YoY | -2.781 % | |
| Free Cash Growth IPRWA | high: 53.998 % VRT: -26.145 % mean: -80.038 % median: -87.997 % low: -133.472 % |
|
| Free Cash To Net Income | 1.673 | |
| Cash Flow Margin | 10.391 % | |
| Cash Flow To Earnings | 0.706 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.046 % | |
| Return On Assets QoQ | -21.292 % | |
| Return On Assets YoY | 72.09 % | |
| Return On Assets IPRWA | VRT: 3.046 % high: 1.6 % median: 1.559 % mean: 0.639 % low: -28.254 % |
|
| Return On Capital Employed (ROCE) | 5.382 % | |
| Return On Equity (ROE) | 0.092 | |
| Return On Equity QoQ | -18.716 % | |
| Return On Equity YoY | 48.971 % | |
| Return On Equity IPRWA | VRT: 0.092 high: 0.077 median: 0.077 mean: 0.059 low: -0.566 |
|
| DuPont ROE | 9.531 % | |
| Return On Invested Capital (ROIC) | 5.384 % | |
| Return On Invested Capital QoQ | -19.57 % | |
| Return On Invested Capital YoY | 67.049 % | |
| Return On Invested Capital IPRWA | VRT: 5.384 % high: 2.334 % median: 2.334 % mean: 1.637 % low: -5.424 % |
|