Demand and volumepositive · 4 filings
“The increase in cost of sales was primarily driven by the impact of higher volumes.”10-Q · Apr 22, 2026 ↗
Vertiv Holdings Co
VRT
Market read
Vertiv Holdings Co's move is being confirmed by its market group.
VRT accounts for 1.9% of the group's measured movement across 5.1 effective names. all 10 measured members are rising in raw terms, but 6 of 10 SPY-adjusted paths align to the upside. Capital-flow agreement is 19%, so confirmation is not yet clean. No verified headline preceded the measured group move.
MOVE ANATOMY
SPY-adjusted 5m pathsIs this move genuinely shared?
Role in the moveCounter-move#10 of 10 by movement share
Group movement share1.9%Absolute path energy—not portfolio weight
Relative path-0.10%counter
Effective breadth5.1 / 10balanced
Relative alignment6/10upside path · 4 counter-moving
Capital-flow agreement19%not yet clean
SEQUENCE READ
APG, CAT moved materially before VRT. VRT crossed its material path threshold at 11:10 ET. ITT, JCI, KEX followed.
What changed
- Revenue increased 30.1% versus the comparable filing period.
EVIDENCE COVERAGE
5 of 10 members in Industrial Infrastructure are active. 0 of 8 disclosed connections are confirming.
What would change this read
Watch this read- At least 7 of 10 durable members become active together.
- Capital-flow agreement rises above 55%.
- A filing-linked outsider such as ENS begins moving with the group.
Invalidation: The live read weakens if participation falls to 3 of 10 members or fewer.
Research brief
The story so far
VRT accounts for 1.9% of the group's measured movement across 5.1 effective names. all 10 measured members are rising in raw terms, but 6 of 10 SPY-adjusted paths align to the upside. Capital-flow agreement is 19%, so confirmation is not yet clean. No verified headline preceded the measured group move.
Evidence that supports
- Revenue increased 30.1% versus the comparable filing period.
- Operating margin improved 2.3 percentage points.
- Net income increased 137.1% versus the comparable filing period.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- At least 7 of 10 durable members become active together.
- Capital-flow agreement rises above 55%.
- A filing-linked outsider such as ENS begins moving with the group.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements89
Verified relationships12
Evidence supporting the case
- Latest annual revenue changed +27.7% year over year.
- Net margin changed +6.8 percentage points in the latest annual period.
- Demand and volume has repeated favorable evidence across 4 filings.
Evidence challenging the case
- Credit and interest rates has repeated adverse evidence across 3 filings.
- Restructuring and cost reductions has repeated adverse evidence across 3 filings.
Questions before a position
- EV/sales is 64% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
257.046m-3.1%12m+88.0%24m+258.2%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$5.0B+14.4%$0.33+17.3%
2022-12-31$5.7B+13.9%$-0.04+5.0%
2023-12-31$6.9B+20.6%$1.19+2.1%
2024-12-31$8.0B+16.7%$1.28+0.0%
2025-12-31$10.2B+27.7%$3.41+1.1%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesnegative · 3 filings
“At December 31, 2025, there was $ 784.0 of availability under the ABL Revolving Credit Facility (subject to customary borrowing base and other conditions, and subject to separate sublimits for letters of credit, swingline borrowings and borrowings made to cer…”10-K · Feb 13, 2026 ↗
Restructuring and cost reductionsnegative · 3 filings
“At December 31, 2025, the Company has non-U.S.”10-K · Feb 13, 2026 ↗
Capital investment and capacitypositive · 1 filings
“The increased use of cash over the comparable period was primarily driven by a $76.1 increase in capital expenditures in order to support capacity expansion across the business and net purchases of short-term investments of $248.4.”10-Q · Apr 22, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 9.8× · EV/sales 9.9×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
257.04+3.6% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for VRT. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
Fundamentals strengthened in the latest filing
10-Q filed 2026-04-22 against the comparable filing from 2025-04-23.
OperationsconstructiveEvidence score +4
liquidityconstructiveEvidence score +1
valuationmixed
What improved
- Revenue increased 30.1% versus the comparable filing period.
- Operating margin improved 2.3 percentage points.
- Net income increased 137.1% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“The increase in cost of sales was primarily driven by the impact of higher volumes.”
“Margin increased primarily due to the mix of product and service sales in addition to operational leverage.”
“The increased use of cash over the comparable period was primarily driven by a $76.1 increase in capital expenditures in order to support capacity expansion across the business and net purchases of short-term investments of $248.4.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind VRT
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
EMREmerson Electric Co.supplierFeb 13, 2026 ▾
“In 1987, Liebert was acquired by Emerson Electric Co, which later formed its Network Power business in 2000 to integrate critical infrastructure technologies, including Liebert and previously acquired ASCO, a provider of power transfer switches, under one bra…”
CATCaterpillar Inc.partnerFeb 13, 2026 ▾
“In addition, our partnership with Caterpillar strengthens our capabilities in distributed power generation and backup solutions for critical infrastructure applications.”
Depended on by
KEELKeel Infrastructure Corp.partnerMar 31, 2026 ▾
“We have engaged first-tier companies, including ASG, CBRE, Consertus, Corgan, Gensler, Langan, Syska Hennessy Group, Turner Construction Company, Vertiv, and WWT, to access deep, domain-specific expertise at each development stage, while retaining strategic c…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 9 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
VRT is currently a Early Follower in the organic co-movement group Industrial Infrastructure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.