# Vertiv Holdings Co Class A Common Stock (VRT) — Stock CV

Vertiv Holdings Co is a $93.5B technology company. Revenue grew 26.2% over the last year, it keeps 15¢ of every dollar of sales as profit, and its net debt equals ~0.4 years of free cash flow. It trades at 54.0× earnings — in the cheapest third of its own history.

> Vertiv has roots tracing back to 1946 when its founder, Ralph Liebert, developed an air-cooling system for mainframe data rooms.

## Identity

- **Ticker**: VRT
- **Sector**: Technology
- **Industry**: Electronic Components, Nec
- **Headquarters**: WESTERVILLE, OH
- **Employees**: 34 000
- **Website**: https://www.vertiv.com
- **Market cap**: $93.5B
- **Last price**: $242.79
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $11.5B
- **Net income**: $1.73B
- **Free cash flow**: $2.93B
- **Net debt**: $1.16B
- **P/E**: 54.0
- **Revenue growth (YoY)**: 26.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 49 |
| Growth | 95 |
| Profitability | 90 |
| Health | 67 |
| Quality | 72 |
| Moat | 49 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +26.2% YoY
- [x] Profitable — $1.73B TTM
- [x] Profit growing — +156.4% YoY
- [x] Generates cash — $2.93B TTM
- [x] Debt under control — ~0.4y of cash flow to repay
- [x] Established company — $93.5B market cap
- [x] Not printing shares — +8.5% shares over ~5y
- [x] Proven track record — 7/8 profitable years
- [x] Financially stable — Altman Z 6.0 — safe
- [x] Pays a dividend — yield 0.09%
- [ ] Valuation not extreme — P/E 54.0

## Experience (career milestones)

- **FY2025** — Revenue crossed $10B: $10.2B for the year
- **FY2025** — Best year on record: $1.33B net income
- **2021** — Vertiv acquired E+I Engineering, a global provider of switchgear, busway and modular power solutions, for…
- **FY2020** — Revenue crossed $1B: $4.37B for the year
- **Feb 10, 2020** — Through a merger with a Goldman Sachs-led special purpose acquisition company, GS Acquisition Holdings, Vertiv…
- **FY2018** — First recorded profitable year: $5.03M net income
- **2016** — Platinum Equity acquired the ENP business from Emerson Electric in a transaction valued in excess…
- **1987** — Liebert Corporation was acquired by Emerson Electric in March 1987, remaining a wholly owned subsidiary of Emerson
- **1983** — Liebert acquired Franklin Electric subsidiary, Programmed Power Corporation, expanding the company's power…
- **1981** — Liebert became a public company, listed on the NASDAQ under the symbol LIEB
- **1980** — Ralph Liebert's son, Larry Liebert, took over the company as president in 1980 and served in this position until 1989
- **1977** — Liebert launched Conditioned Power Corporation to design and manufacture power distribution, conditioning…
- **1965** — The prototype was introduced to IBM in Chicago
- **1946** — Vertiv began as Capitol Refrigeration Industries, established in 1946 by Ralph Liebert (1918-1984) in Columbus, Ohio

## Strengths

- Revenue growing 26.2% year over year
- Strong cash conversion — FCF is 25.5% of revenue
- Could repay net debt from ~0.1 years of free cash flow
- High returns on invested capital (ROIC 27.4%)
- Altman Z-Score 6.01 — low bankruptcy-risk zone

## Watch-outs

- Loss-making in 1 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $5.00B | $120M | $138M |
| FY2022 | $5.69B | $76.6M | -$253M |
| FY2023 | $6.86B | $460M | $773M |
| FY2024 | $8.01B | $496M | $1.15B |
| FY2025 | $10.2B | $1.33B | $1.89B |

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Source: https://stockcv.com/VRT — derived from company filings; may be delayed or incomplete. Information, not investment advice.