Filing Flows › Vertiv Holdings (VRT) › Q2 2025
Vertiv Holdings (VRT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Vertiv Holdings (VRT) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), +35% from a year earlier and +30% from the quarter before. Operating margin was 16.8%, net earnings $324M (12.3% of revenue).
Vertiv Holdings, Q2 2025: revenue $2.6B (+35% year over year), operating margin 16.8%, net earnings $324M, operating cash flow $323M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | +30% | +35% |
| Operating profit | $442M | +52% | +32% |
| Net earnings | $324M | +97% | +82% |
| Operating cash flow | $323M | +6% | -15% |
| Free cash flow | $277M | — | -18% |
What changed
Revenue was $2.6B in Q2 2025, up 35% year over year and up 30% from the previous quarter. Americas was the largest line at 61% of revenue. Americas added $0.48B year over year (up 43%), 70% of the total change.
Operating profit was $0.44B, a 16.8% margin (down 0.4 points year over year). Of the extra revenue versus a year earlier, 16% reached operating profit, below the 17% margin then. Total costs grew 36% against revenue growth of 35%. The fastest-growing cost line was Cost of revenue (+44%). Net earnings were $0.32B, up 82% year over year. The effective tax rate was 23.0%.
Operating cash flow was $0.32B (down 15% year over year), 100% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.09B. After capital expenditures ($0.04B) and investments in capitalized software ($900K), adjusted free cash flow as the company reports it was $0.28B.
Questions
What was Vertiv Holdings' revenue in the second quarter 2025?
Vertiv Holdings (VRT) reported revenue of $2.6B for the second quarter 2025 (Q2 2025), +35% from a year earlier and +30% from the quarter before.
Was Vertiv Holdings profitable in the second quarter 2025?
Operating profit was $442M (16.8% of revenue) and net earnings $324M.
Source: Vertiv Holdings 10-Q on SEC EDGAR.