Vertiv Company Profile
A filing-grounded company profile for power and thermal infrastructure economics, showing how AI data-center demand can transmit into facility-level revenue, margin, reinvestment, and capital intensity.
This company profile maps public filing metrics, operating context, and infrastructure exposure within CM Terminal’s personal analytical framework.
Company profile
Company Profile: Vertiv
Role: Power and thermal infrastructure / data-center infrastructure profile.
Built from Form 10-K filings using the CM Terminal Analytics methodology.
FY2025 highlights
Revenue
$10,229.9M
Gross Margin
36.32%
Operating Margin
17.89%
R&D Intensity
4.32%
CapEx Intensity
2.15%
Five-year view
| Fiscal Year | Revenue | Revenue Growth | Gross Margin | Operating Margin | R&D Intensity | CapEx Intensity | Dataset row |
|---|---|---|---|---|---|---|---|
| 2021 | $4,998.1M | — | 30.47% | 5.20% | 5.33% | 1.47% | Filing row |
| 2022 | $5,691.5M | 13.87% | 28.39% | 3.93% | 4.95% | 1.76% | Filing row |
| 2023 | $6,863.2M | 20.59% | 34.98% | 12.71% | 4.42% | 1.86% | Filing row |
| 2024 | $8,011.8M | 16.74% | 36.62% | 17.07% | 4.39% | 2.08% | Filing row |
| 2025 | $10,229.9M | 27.69% | 36.32% | 17.89% | 4.32% | 2.15% | Filing row |
Dataset note: The Dataset row column records the label attached to each filing-backed row in the project dataset. Definitions appear in Analytics Methodology & Data Policy.
Vertiv filing figures are stored as USD millions.
Gross profit is computed as net sales minus cost of sales from the Form 10-K statements. R&D uses Note 11 / Other Financial Information. CapEx uses capital expenditures from the cash flow statement and is stored as a positive magnitude.
Vertiv Revenue Trend
Fiscal-year revenue from Vertiv Form 10-K figures.
Source: issuer filings; methodology documented separately.
Source: Vertiv Form 10-K filings. Amounts stored in USD millions.
What this chart shows: The revenue series shows Vertiv's facility-infrastructure exposure scaling across the filing-backed period, making it useful for testing whether AI data-center demand extends beyond silicon and networking layers.
Vertiv Margin Trend
Gross margin and operating margin from Vertiv Form 10-K figures.
Source: issuer filings; methodology documented separately.
Source: Vertiv Form 10-K filings. Ratios calculated from stored USD millions figures.
What this chart shows: Margin expansion across the filing-backed period helps show how power and thermal infrastructure economics can shift as demand scales, but it should be read as company-level evidence rather than segment-level AI exposure.
Vertiv Reinvestment Intensity Trend
R&D intensity and CapEx intensity calculated from Vertiv Form 10-K figures.
Source: issuer filings; methodology documented separately.
Source: Vertiv Form 10-K filings. Ratios calculated from stored USD millions figures.
What this chart shows: Reinvestment intensity provides a facility-infrastructure contrast to semiconductor manufacturing companies. The profile should not be read as a chip-production CapEx proxy.
R&D intensity = R&D expense / revenue. CapEx intensity = capital expenditure / revenue.
AI Power Translation
Disclosure Evidence: Vertiv
This section is separate from the AI Infrastructure issuer profile above. It records how Vertiv's own public releases connect data-center or AI-infrastructure demand to orders, backlog, sales growth, or other measurable operating signals.
| Period | Precision | Net sales | Organic sales growth | Organic orders growth | Backlog | Evidence note |
|---|---|---|---|---|---|---|
| 3Q24 | partially quantified | — | — | 17.0% | — | Vertiv 3Q24 release reported third-quarter organic orders growth of about 17% and TTM organic orders growth of about 37%, driven by hyperscale and colocation data-center demand, with continued AI-related pipeline activity. Source filing |
| 4Q24 | partially quantified | — | — | — | — | Vertiv 4Q24 release reported TTM organic orders up about 30%, driven by hyperscale and colocation data-center demand, and sequential pipeline growth from data-center project activity. Source filing |
| 1Q25 | partially quantified | — | — | 13.0% | — | Vertiv 1Q25 release reported TTM orders growth of about 20%, first-quarter orders up about 13%, book-to-bill of about 1.4x, backlog 10% higher than year-end and 25% above the end of 1Q24, while describing accelerated AI deployments across the data-center market. Source filing |
| 2Q25 | partially quantified | — | — | 15.0% | $8,500M | Vertiv 2Q25 release reported organic order growth of about 15%, TTM organic order growth of about 11%, backlog of $8.5B, and book-to-bill of about 1.2x, with net sales driven by robust data-center demand. Source filing |
| 3Q25 | partially quantified | — | — | 60.0% | $9,500M | Vertiv 3Q25 release reported organic orders up about 60%, TTM organic orders up 21%, book-to-bill of about 1.4x, backlog of $9.5B, and described sustained market demand and increased penetration particularly in AI-driven infrastructure. Source filing |
| 4Q25 | partially quantified | — | — | 252.0% | $15,000M | Vertiv 4Q25 release reported organic orders up about 252%, TTM organic orders up about 81%, book-to-bill of about 2.9x, backlog of $15.0B, hyperscale/colocation data centers as primary drivers of order strength, and robust demand particularly in AI infrastructure. Source filing |
| 1Q26 | partially quantified | $2,650M | 23.0% / Americas 44.3% | — | — | Vertiv 1Q26 release reported net sales of $2.65B, 23% organic sales growth, and Americas organic growth of 44.3%, with the Americas region described as expanding on strong data-center demand. The release did not provide a data-center-specific order or backlog split. Source filing |
The precision score measures disclosure specificity. It does not claim that Vertiv's order, backlog, or sales growth is caused only by AI.
What the filing data suggests
Fiscal years in this profile: FY2021, FY2022, FY2023, FY2024, FY2025.
What Vertiv contributes to the AI Infrastructure Economics comparison as a power and thermal infrastructure profile.
Main analytical tension
Data-center demand tailwind vs facility-infrastructure margin ceiling
Vertiv connects AI infrastructure demand to power and thermal systems, but the profile should be read as facility-level infrastructure exposure rather than semiconductor-style margin capture. The tension is whether data-center demand can improve margins without turning the business into a platform-like business.
This profile is descriptive issuer-level analysis. Methodology and non-advisory boundaries are documented in Analytics Methodology & Data Policy.
Power and cooling role
Vertiv connects AI data-center demand to facility-level power, thermal, and cooling equipment and services.
Facility infrastructure contrast
The profile helps test whether AI infrastructure economics extend beyond silicon, foundry, memory, equipment, and networking layers into power and thermal systems.
Company-level signal
Revenue, operating margin, R&D intensity, and CapEx intensity provide a company-level view of power and cooling economics, not a segment-level AI revenue estimate.
Comparison status
Vertiv is the power and thermal infrastructure company profile in the current eight-company Profit Capture vs Capital Burden comparison.
Analytical difficulty
What this profile can show
Vertiv can prove that AI/HPC demand extends into power, thermal, liquid-cooling, and facility-level data-center infrastructure.
What this profile cannot isolate
It cannot prove pure AI data-center revenue or AI-only liquid-cooling economics. Regional segments, backlog conversion, project timing, services/spares, non-AI data centers, and broader critical infrastructure demand remain mixed. This makes Vertiv a facility-infrastructure extension profile, not a semiconductor-style margin or CapEx proxy.
Main unresolved bridge
The unresolved bridge is linking backlog, thermal management, and regional demand to AI-specific project revenue.
Reference
Source & Methodology
How the Vertiv profile data is sourced, stored, and interpreted.
Official sources
Primary inputs are Vertiv Holdings Co. Form 10-K annual filings. Links below use the sourceUrl values stored on each stored row; fiscal-year coverage follows the filing trail described in each row's sourceNote.
FY2021 is sourced from the comparative year presentation in the 2022 Form 10-K. FY2022 through FY2024 are sourced from the 2024 Form 10-K comparative and reported-year tables. FY2025 is sourced from the 2025 Form 10-K, as indicated in the row-level source notes.
Used for FY2021
Used for FY2022, FY2023, FY2024
Used for FY2025
Source notes
Net sales, cost of sales, and operating profit are taken from the Consolidated Statements of Earnings (Loss) as described in each row's filing note. Gross profit is computed as net sales minus cost of sales. R&D uses research and development expense or engineering, research and development costs from Note 11 / Other Financial Information. CapEx uses capital expenditures from the Consolidated Statements of Cash Flows. Figures are in USD millions. Fiscal year is calendar-year aligned and ends December 31. CapEx is stored as a positive magnitude.
Fiscal-year treatment
The fiscalYear field uses Vertiv's reported fiscal-year label (for example FY2024). When periodEnded is present on a row, it records the fiscal period end date for that fiscal year as stated in the filing trail for that row.
Metric construction
Raw metrics stored per fiscal year include revenue, grossProfit, operatingIncome, rdExpense, capitalExpenditure. Derived metrics include revenueGrowth, grossMargin, operatingMargin, rdIntensity, capexIntensity where present, calculated from the stored raw figures for the same row.
Dataset boundary
These rows are filing-based dataset records used for issuer-level analytics. Source rules, metric definitions, review terminology, and non-advisory boundaries are documented in Analytics Methodology & Data Policy.