Vertiv Q4 Sales Climb 23% to $2.88B as Orders Surge 252%
Vertiv’s Q4 net sales rose 23% to $2.88 billion, organic orders jumped 252%, and adjusted diluted EPS increased 37% while operating margin expanded by 170 basis points to 23.2%. Backlog reached $15.0 billion and the company forecasts 2026 net sales of $13.25–$13.75 billion with adjusted EPS of $5.97–$6.07.
1. Fourth Quarter Financial Highlights
Vertiv posted net sales of $2,880 million, up 23% year-over-year, driven by 19% organic sales growth. Organic orders jumped 252% over Q4 2024, lifting adjusted operating margin to 23.2% (up 170 basis points) and adjusted diluted EPS by 37%.
2. Cash Generation and Balance Sheet
Operating cash flow reached $1,005 million, up 136%, and adjusted free cash flow hit $910 million, a 151% increase. Backlog swelled to $15.0 billion (up 109%), while net leverage improved to 0.5x and liquidity stood at $2.6 billion.
3. Full-Year 2025 Results
Full-year net sales grew 26% organically, driving diluted EPS up 166% and adjusted EPS higher by 47%. Annual operating cash flow was $2,114 million and adjusted free cash flow $1,887 million, increases of 60% and 66% respectively.
4. 2026 Outlook
Management expects 2026 net sales between $13,250 million and $13,750 million (27%–29% organic growth) with adjusted diluted EPS of $5.97 to $6.07, reflecting a 43% increase over 2025, supported by ER&D investments and capacity expansion.