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Vertiv Holdings (VRT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 28, 2026 · Vertiv Holdings (VRT) Q3 2026 earnings results →

Q3 2026 Revenue up 61% year over year to $4.3B · 18¢ of every $1 of revenue kept as net profit · operating margin 22.8%

Vertiv Holdings made $4.3B in Q3 2026 (+61% Y/Y): Americas $3.0B, Asia Pacific $779M, Europe, Middle East & Africa $545M. Operating margin 22.8%, net earnings $764M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 28, 2026.

Revenue$4.3B
Year over year+61%
Operating margin22.8%
Net earnings$764M
Operating cash flow$794M

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Vertiv Holdings Q3 2026 revenue breakdown: Sankey diagram of revenue (Americas, Asia Pacific, Europe, Middle East & Africa), costs, profit and cash flow
Vertiv Holdings Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $4.3B in Q3 2026, up 61% year over year and up 32% from the previous quarter. Americas was the largest line at 69% of revenue. Americas added $1.3B year over year (up 75%), 78% of the total change.

Operating profit was $1.0B, a 22.8% margin (up 3.5 points year over year). Of the extra revenue versus Q3 2025, 29% reached operating profit, above the 19% margin then. Total costs grew 54% against revenue growth of 61%. The fastest-growing cost line was Cost of revenue (+60%). Net earnings were $0.76B, up 92% year over year. The effective tax rate was 23.2%.

Operating cash flow was $0.79B (up 64% year over year), 104% of net earnings. Non-cash charges added back $0.11B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.10B. After capital expenditures ($0.14B) and investments in capitalized software ($2.7M), adjusted free cash flow as the company reports it was $0.65B.

Quarterly history

Vertiv Holdings revenue by quarterVertiv Holdings revenue by quarter$2.0BQ1 2025$2.6BQ2 2025$2.7BQ3 2025$2.9BQ4 2025$2.6BQ1 2026$3.3BQ2 2026$4.3BQ3 2026
Vertiv Holdings net earnings by quarterVertiv Holdings net earnings by quarter$164MQ1 2025$324MQ2 2025$398MQ3 2025$446MQ4 2025$390MQ1 2026$498MQ2 2026$764MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 28, 2026$4.3B+61%22.8%$764M$794M
Q2 202610-QJul 29, 2026$3.3B+24%19.5%$498M$1.1B
Q1 202610-QApr 22, 2026$2.6B+30%16.6%$390M$767M
Q4 202510-KFeb 13, 2026$2.9B+23%20.1%$446M$1.0B
Q3 202510-QOct 22, 2025$2.7B+29%19.3%$398M$483M
Q2 202510-QJul 30, 2025$2.6B+35%16.8%$324M$323M
Q1 202510-QApr 23, 2025$2.0B+24%14.3%$164M$303M

Charts

Vertiv Holdings: revenue growth, year over year and quarter over quarterVertiv Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q+24%Q1 2025+35%+30%Q2 2025+29%+1%Q3 2025+23%+8%Q4 2025+30%-8%Q1 2026+24%+24%Q2 2026+61%+32%Q3 2026
Latest (Q3 2026): Y/Y +61%, Q/Q +32%.
Vertiv Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Vertiv Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$3.7BCash drawn (+) / kept (−)−$2.1BOther financing$2.1BNet borrowing (+) / repaid (−)−$2.1BAcquisitions−$1.3BCapital spending−$518MOther investing$323MDividends−$95.8MShares issued$49.3MTaxes on employees’ shares−$30.7MExchange rates$6.3M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Vertiv Holdings: profit against cash, quarter by quarterVertiv Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$147M$425MQ4 2024$164M$303MQ1 2025$324M$323MQ2 2025$398M$483MQ3 2025$446M$1.0BQ4 2025$390M$767MQ1 2026$498M$1.1BQ2 2026$764M$794MQ3 2026
Latest (Q3 2026): Net income $764M, Operating cash flow $794M.
Vertiv Holdings: diluted shares by fiscal yearVertiv Holdings: diluted shares by fiscal year307MFY2020360MFY2021378MFY2022386MFY2023386MFY2024391MFY2025
+27.2% since FY2020: more shares outstanding (issuance, stock pay).
Vertiv Holdings: long-term debt falling due (FY2025)Vertiv Holdings: long-term debt falling due (FY2025)$20.9M2026$20.9M2027$871M2028$20.9M2029$20.9M2030
Cash $1.7B, short-term investments —, long-term debt $2.9B at 2025-12-31.
Vertiv Holdings in its industry: growth against margin (11 companies, SIC 3679)Vertiv Holdings in its industry: growth against margin (11 companies, SIC 3679)revenue growth, year over year →↑ operating marginmedian +25%median 11%AEISVREXVICRPINSYSMPTIESPMVISLGLNEONVRT (+61%, 23%)
Electronic Components, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

In supply chains and themes

AI data-center capex money flowAI data-center capex · Power & cooling

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🏭Its industry’s money flow (input-output)interactive

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About Vertiv Holdings

Vertiv is a global leader in critical digital infrastructure for applications in data centers, communication networks, and commercial and industrial environments. As businesses, industries, and communities become more connected, we pioneer and deliver end-to-end power and cooling technologies to help our customers stay resilient, optimized, and future-ready. With our industry-leading innovative technologies and global services network, we are fueling the revolution of the digital world — keeping technology ecosystems running efficiently and without interruption. We believe that Vertiv is supercharging data’s potential; accelerating the pace of technology, raising the bar for accelerated compute and redefining the limits of densification. The world depends on data we power and cool™.

In its own words, from its 10-K, filed Feb 13, 2026.

Vertiv Holdings against its Electronic Components, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +61% against the peers' median +40%. Operating margin: 22.8% against the peers' median 11.4%.

CompanyQuarterRevenueY/YOp. margin
VRT Vertiv HoldingsQ3 2026$4.3B+61%22.8%
AEIS Advanced Energy IndustriesQ3 2026$696M+50%20.6%
VREX Varex ImagingQ3 FY26$210M+4%10.8%
VICR VicorQ3 2026$197M+78%36.6%
PI ImpinjQ3 2026$112M+17%4.1%
NSYS Nortech SystemsQ2 2026$33.5M+9%1.9%
MPTI M-tron IndustriesQ2 2026$15.1M+14%11.4%
ESP Espey Manufacturing & ElectronicsQ4 FY26$13.5M+40%25.8%
MVIS MicrovisionQ3 2026$2.4M+896%-889.0%

Source: Vertiv Holdings 10-Q on SEC EDGAR · CIK 1674101 · Electronic Components, NEC

13F: who owns VRT and who is buying

Largest holders of VRT (13F)Largest holders of VRT (13F)BlackRock$12.0BVanguard Capital Management LLC$8.4BVanguard Group$6.2BVanguard Portfolio Management LLC$6.0BState Street$5.5BPrice T Rowe Associates$3.1BGeode Capital Management, LLC$3.0BBank of America$2.8BMorgan Stanley$2.3BInvesco$1.9B
Funds' net buying of VRT by quarter (13F)Funds' net buying of VRT by quarter (13F)−$431M2024-09−$1.4B2024-12−$855M2025-03$1.3B2025-06−$165M2025-09−$289M2025-12$2.1B2026-03−$2.8B2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on VRT

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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中文版：Vertiv Holdings（VRT）财报

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