Vertiv Holdings Co (VRT) financial statements: income statement, balance sheet and cash flow
Vertiv Holdings Co's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Vertiv Holdings Co reported revenue of $10.2B (+27.7% year on year) and net income of $1.3B (+168.8% year on year).
Income statement
Vertiv Holdings Co income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$10.2B
$8.0B
$6.9B
$5.7B
Cost of sales
$6.5B
$5.1B
$4.5B
$4.1B
Selling, general and administrative expenses
$1.6B
$1.4B
$1.3B
$1.2B
Amortization of intangibles
$200.4M
$184.2M
$181.3M
$215.8M
Restructuring costs
$54.5M
$5.3M
$28.6M
$700.0K
Foreign currency (gain) loss, net
$12.0M
$9.3M
$16.0M
$3.7M
Other operating expense (income)
$800.0K
($6.0M)
($9.9M)
($5.8M)
Operating profit (loss)
$1.8B
$1.4B
$872.2M
$223.4M
Interest expense, net
$86.1M
$150.4M
$180.1M
$147.3M
Loss on extinguishment of debt
$1.7M
$2.4M
$500.0K
$0
Change in fair value of warrant liabilities
$0
$449.2M
$157.9M
($90.9M)
Income (loss) before income taxes
$1.7B
$765.4M
$533.7M
$167.0M
Income tax expense
$409.1M
$269.6M
$73.5M
$90.4M
Net income (loss)
$1.3B
$495.8M
$460.2M
$76.6M
Basic (USD per share)
$3.49
$1.32
$1.21
$0.20
Diluted (USD per share)
$3.41
$1.28
$1.19
-$0.04
Basic (in shares)
381.7M
376.4M
380.1M
376.7M
Diluted (in shares)
390.7M
386.3M
386.2M
378.2M
Vertiv Holdings Co income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$3.3B
$2.6B
$2.7B
$2.6B
Cost of sales
$2.0B
$1.6B
$1.7B
$1.7B
Selling, general and administrative expenses
$494.4M
$456.7M
$414.3M
$395.6M
Amortization of intangibles
$73.7M
$77.6M
$48.2M
$46.9M
Restructuring costs
($3.9M)
($4.9M)
$30.7M
$1.9M
Foreign currency (gain) loss, net
$3.9M
($1.6M)
$900.0K
$2.3M
Other operating expense (income)
$28.9M
$31.8M
($100.0K)
$7.5M
Operating profit (loss)
$637.9M
$440.1M
$516.7M
$442.4M
Interest expense (income), net
$17.4M
($4.4M)
$22.8M
$21.3M
Loss on extinguishment of debt
$0
$6.2M
$1.7M
$0
Other non-operating expense (income)
$500.0K
—
—
—
Income (loss) before income taxes
$620.0M
$438.3M
$492.2M
$421.1M
Income tax expense (benefit)
$122.2M
$48.2M
$93.7M
$96.9M
Net income (loss)
$497.8M
$390.1M
$398.5M
$324.2M
Basic (in dollars per share)
$1.29
$1.02
$1.04
$0.85
Diluted (in dollars per share)
$1.27
$0.99
$1.02
$0.83
Basic (in shares)
384.6M
382.9M
382.0M
381.5M
Diluted (in shares)
392.7M
392.1M
390.9M
389.8M
Balance sheet
Vertiv Holdings Co balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.7B
$1.2B
$780.4M
$260.6M
Short-term investments
$99.5M
—
—
—
Accounts receivable, less allowances of $25.6 and $22.4, respectively
$3.1B
$2.4B
$2.2B
$1.9B
Inventories
$1.5B
$1.2B
$884.3M
$822.0M
Other current assets
$426.1M
$267.1M
$151.6M
$187.3M
Total current assets
$6.8B
$5.1B
$4.0B
$3.2B
Property, plant and equipment, net
$921.8M
$625.1M
$560.1M
$489.4M
Goodwill
$2.0B
$1.3B
$1.3B
$1.3B
Other intangible assets, net
$1.9B
$1.5B
$1.7B
$1.8B
Deferred income taxes
$179.6M
$303.3M
$159.8M
$46.4M
Right-of-use assets, net
$303.0M
$202.1M
$173.5M
$166.4M
Other
$60.0M
$92.0M
$100.4M
$134.0M
Total other assets
$4.5B
$3.4B
$3.4B
$3.4B
Total assets
$12.2B
$9.1B
$8.0B
$7.1B
Current portion of long-term debt
$20.9M
$21.0M
$21.8M
$21.8M
Accounts payable
$1.8B
$1.3B
$986.4M
$984.0M
Deferred revenue
$1.8B
$1.1B
$638.9M
—
Accrued expenses and other liabilities
$771.6M
$612.6M
$611.8M
$872.4M
Income taxes
$43.4M
$83.7M
$46.5M
$19.7M
Total current liabilities
$4.4B
$3.1B
$2.3B
$1.9B
Long-term debt, net
$2.9B
$2.9B
$2.9B
$3.2B
Deferred income taxes
$232.8M
$240.3M
$159.5M
$176.5M
Long-term lease liabilities
$245.2M
$171.4M
$142.6M
$132.0M
Other long-term liabilities
$494.0M
$282.3M
$262.0M
$219.6M
Total liabilities
$8.3B
$6.7B
$6.0B
$5.7B
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding
0
0
0
0
Common stock, $0.0001 par value, 700,000,000 shares authorized, 382,553,680 and 380,703,974 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively
0
0
0
0
Additional paid-in capital
$2.9B
$2.8B
$2.7B
$2.6B
Retained earnings
$1.0B
($238.3M)
($691.9M)
($1.1B)
Accumulated other comprehensive (loss) income
$18.2M
($148.8M)
($4.5M)
($46.2M)
Total equity
$3.9B
$2.4B
$2.0B
$1.4B
Total liabilities and equity
$12.2B
$9.1B
$8.0B
$7.1B
Vertiv Holdings Co balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$2.8B
$2.2B
$1.4B
$1.6B
Short-term investments
$300.0M
$349.9M
$544.6M
$98.2M
Accounts receivable, less allowances of $29.1 and $25.6, respectively
$3.8B
$3.1B
$2.8B
$2.8B
Inventories
$2.5B
$1.8B
$1.4B
$1.4B
Other current assets
$601.3M
$500.8M
$360.8M
$318.7M
Total current assets
$10.0B
$8.0B
$6.5B
$6.3B
Property, plant and equipment, net
$1.2B
$997.5M
$698.0M
$666.4M
Goodwill
$2.3B
$2.0B
$1.4B
$1.4B
Other intangible assets, net
$1.8B
$1.8B
$1.5B
$1.5B
Deferred income taxes
$170.1M
$177.8M
$258.5M
$291.5M
Right-of-use assets, net
$387.2M
$330.8M
$283.7M
$244.9M
Other
$90.4M
$79.7M
$74.9M
$73.2M
Total other assets
$4.7B
$4.4B
$3.6B
$3.4B
Total assets
$15.9B
$13.4B
$10.8B
$10.4B
Current portion of long-term debt
$0
$0
$20.9M
$21.0M
Accounts payable
$2.5B
$2.0B
$1.7B
$1.6B
Deferred revenue
$3.6B
$2.5B
$1.1B
$1.3B
Accrued expenses and other liabilities
$1.1B
$856.2M
$681.4M
$578.5M
Income taxes
$74.8M
$73.5M
$23.7M
$152.6M
Total current liabilities
$7.2B
$5.3B
$3.6B
$3.6B
Long-term debt, net
$2.9B
$2.9B
$2.9B
$2.9B
Deferred income taxes
$234.1M
$221.2M
$285.1M
$252.6M
Long-term lease liabilities
$316.4M
$270.4M
$231.4M
$203.1M
Other long-term liabilities
$410.0M
$398.2M
$316.7M
$310.1M
Total liabilities
$11.1B
$9.2B
$7.3B
$7.3B
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, none issued and outstanding
0
0
0
0
Common stock, $0.0001 par value, 700,000,000 shares authorized, 384,936,985 and 382,553,680 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively
0
0
0
0
Additional paid-in capital
$3.0B
$2.9B
$2.9B
$2.9B
Retained earnings
$1.9B
$1.4B
$606.3M
$222.0M
Accumulated other comprehensive income (loss)
($65.2M)
($76.2M)
$19.2M
$45.2M
Total equity
$4.8B
$4.2B
$3.5B
$3.1B
Total liabilities and equity
$15.9B
$13.4B
$10.8B
$10.4B
Cash flow statement
Vertiv Holdings Co cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income (loss)
$1.3B
$495.8M
$460.2M
$76.6M
Depreciation
$97.1M
$81.6M
$74.3M
$72.0M
Amortization
$211.5M
$195.4M
$196.7M
$230.4M
Deferred income taxes
$22.6M
($54.5M)
($131.6M)
($8.6M)
Amortization of debt discount and issuance costs
$5.9M
$7.0M
$7.9M
$7.5M
Change in fair value of warrant liabilities
$0
$449.2M
$157.9M
($90.9M)
Stock-based compensation
$45.9M
$34.6M
$25.0M
$24.7M
Changes in operating working capital
$339.3M
$114.1M
$66.7M
($449.2M)
Other
$58.7M
($3.9M)
$43.4M
($2.9M)
Net cash provided by (used for) operating activities
$2.1B
$1.3B
$900.5M
($152.8M)
Capital expenditures
($220.0M)
($167.0M)
($127.9M)
($100.0M)
Investments in capitalized software
($6.4M)
($17.1M)
($6.7M)
($11.0M)
Purchase of short-term investments
($539.6M)
—
—
—
Proceeds from maturities of short-term investments
$450.0M
—
—
—
Proceeds from disposition of property, plant and equipment
$0
$0
$12.4M
$3.9M
Acquisition of businesses, net of cash acquired
($1.2B)
($17.6M)
($28.8M)
($5.0M)
Proceeds from sale of business
$0
$0
$11.9M
$0
Net cash provided by (used for) investing activities
($1.5B)
($201.7M)
($139.1M)
($112.1M)
Borrowings from ABL revolving credit facility and short-term borrowings
$0
$270.0M
$224.9M
$790.8M
Repayments of ABL revolving credit facility and short-term borrowings
$0
($270.0M)
($459.9M)
($555.8M)
Repayment of long-term debt
($20.9M)
($21.1M)
($27.1M)
($16.4M)
Dividend payment
($66.6M)
($42.2M)
($9.5M)
($3.8M)
Repurchase of common stock
$0
($599.9M)
—
—
Exercise of employee stock options
$26.4M
$33.0M
$27.4M
$3.1M
Employee taxes paid from shares withheld
-11.2M
-21.9M
-3.3M
-4.3M
Net cash provided by (used for) financing activities
($72.3M)
($652.1M)
($247.5M)
$100.2M
Effect of exchange rate changes on cash and cash equivalents
$16.9M
($21.9M)
$1.5M
($9.2M)
Increase (decrease) in cash, cash equivalents and restricted cash
$557.6M
$443.6M
$515.4M
($173.9M)
Beginning cash, cash equivalents and restricted cash
$1.2B
$788.6M
$273.2M
$447.1M
Ending cash, cash equivalents and restricted cash
$1.8B
$1.2B
$788.6M
$273.2M
Accounts receivable
($547.5M)
($280.3M)
($272.5M)
($375.8M)
Inventories
($164.7M)
($369.3M)
($54.0M)
($211.4M)
Other current assets
($72.9M)
($63.7M)
$0
($28.8M)
Accounts payable
$381.2M
$343.1M
($17.7M)
$132.8M
Deferred revenue
$717.5M
$434.5M
$274.2M
—
Accrued expenses and other liabilities
$93.1M
$7.0M
$91.5M
$45.6M
Income taxes
($67.4M)
$42.8M
$45.2M
($11.6M)
Total changes in operating working capital
$339.3M
$114.1M
$66.7M
($449.2M)
Cash paid during the year for interest
$126.7M
$155.5M
$176.7M
$132.8M
Vertiv Holdings Co cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income (loss)
$887.9M
$390.1M
$887.2M
$488.7M
Depreciation
$66.9M
$27.5M
$70.9M
$46.4M
Amortization
$156.6M
$80.2M
$149.4M
$98.5M
Deferred income taxes
($26.1M)
($28.2M)
$92.2M
$23.1M
Amortization of debt discount and issuance costs
$2.2M
$1.6M
$5.3M
$4.3M
Stock-based compensation
$30.8M
$17.0M
$38.7M
$24.5M
Changes in operating working capital
$678.8M
$227.8M
($140.7M)
($95.2M)
Change in fair value of contingent consideration
$62.0M
$33.2M
—
—
Other
$7.5M
$17.6M
$31.9M
$35.9M
Net cash provided by (used for) operating activities
$1.9B
$766.8M
$1.1B
$626.2M
Capital expenditures
($285.9M)
($112.6M)
($126.7M)
($81.5M)
Investments in capitalized software
($2.6M)
($1.4M)
($4.7M)
($3.2M)
Purchase of short-term investments
($546.6M)
($348.4M)
($539.6M)
($98.1M)
Proceeds from maturities of short-term investments
$351.5M
$100.0M
—
—
Investments in affiliates
($19.0M)
($13.9M)
—
—
Acquisition of businesses, net of cash acquired
($278.1M)
($400.0K)
($221.7M)
—
Net cash provided by (used for) investing activities
($780.7M)
($376.7M)
($892.7M)
($182.8M)
Proceeds from the issuance of long-term debt
$2.1B
$2.1B
—
—
Repayment of long-term debt
($2.1B)
($2.1B)
($15.7M)
($10.5M)
Dividend payment
($47.8M)
($23.9M)
($42.6M)
($28.4M)
Exercise of employee stock options
$44.1M
$23.5M
$22.0M
$13.0M
Employee taxes paid from shares withheld
-23.2M
-11.6M
-8.0M
-7.0M
Net cash provided by (used for) financing activities
($3.0M)
$11.9M
($44.3M)
($32.9M)
Effect of exchange rate changes on cash and cash equivalents
$2.9M
($600.0K)
$14.1M
$13.3M
Increase (decrease) in cash, cash equivalents and restricted cash
$1.1B
$401.4M
$212.0M
$423.8M
Beginning cash, cash equivalents and restricted cash