VRTVertiv

Industrials · Electronic Components · NYSE

Vertiv is a global leader in critical digital infrastructure for applications in data centers, communication networks, and commercial and industrial environments. 10-K, Item 1

Employees: 34,000
Headquarters: Westerville, OH
CEO: Giordano Albertazzi
Next results: around Feb 10, 2027

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VRT and 9 peers, year by year

The 9 Industrials companies closest to VRT in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
VRT Vertiv	FY2025	$10.2B	+27.7%	-	17.9%	13.0%	18.5%	33.8%	0.74
EXPD Expeditors International	FY2025	$11.1B	+4.4%	-	9.5%	7.3%	8.6%	34.4%	-
NSC Norfolk Southern	FY2025	$12.2B	+0.5%	-	35.8%	23.6%	17.7%	18.5%	1.10
JBHT J.B. Hunt	FY2025	$12.0B	−0.7%	-	7.2%	5.0%	7.9%	16.8%	0.41
HII Huntington Ingalls Industries	FY2025	$12.5B	+8.2%	-	5.3%	4.8%	6.4%	11.9%	0.53
FIX Comfort Systems USA	FY2025	$9.1B	+29.5%	24.1%	14.4%	11.2%	11.3%	41.8%	0.06
WAB Wabtec	FY2025	$11.2B	+7.5%	34.1%	16.1%	10.5%	13.4%	10.5%	0.50
J Jacobs Solutions	FY2025	$12.0B	+4.6%	24.8%	7.2%	2.4%	5.0%	7.9%	0.61
CTAS Cintas	FY2026	$11.3B	+8.9%	50.7%	23.1%	17.8%	16.7%	38.9%	0.28
CSX CSX Corporation	FY2025	$14.1B	−3.1%	-	32.1%	20.5%	12.1%	22.0%	1.43

Revenuepeer median $12.0B

Sales growthpeer median +4.6%

Gross marginpeer median 29.4%

CTAS 50.7%
WAB 34.1%
J 24.8%
FIX 24.1%
VRT -
EXPD -
NSC -
JBHT -
HII -
CSX -

Operating marginpeer median 14.4%

Net marginpeer median 10.5%

FCF marginpeer median 11.3%

Return on equitypeer median 18.5%

Debt / equitypeer median 0.51

CSX 1.43
NSC 1.10
VRT 0.74
J 0.61
HII 0.53
WAB 0.50
JBHT 0.41
CTAS 0.28
FIX 0.06
EXPD -

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	$0	$4.3B	$4.4B	$4.4B	$5.0B	$5.7B	$6.9B	$8.0B	$10.2B
EXPD Dec	$6.1B	$6.9B	$8.1B	$7.9B	$9.6B	$16.5B	$17.1B	$9.3B	$10.6B	$11.1B
NSC Dec	$9.9B	$10.6B	$11.5B	$11.3B	$9.8B	$11.1B	$12.7B	$12.2B	$12.1B	$12.2B
JBHT Dec	$6.6B	$7.2B	$8.6B	$9.2B	$9.6B	$12.2B	$14.8B	$12.8B	$12.1B	$12.0B
HII Dec	$7.1B	$7.4B	$8.2B	$8.9B	$9.4B	$9.5B	$10.7B	$11.5B	$11.5B	$12.5B
FIX Dec	$1.6B	$1.8B	$2.2B	$2.6B	$2.9B	$3.1B	$4.1B	$5.2B	$7.0B	$9.1B
WAB Dec	$2.9B	$3.9B	$4.4B	$8.2B	$7.6B	$7.8B	$8.4B	$9.7B	$10.4B	$11.2B
J Sep	$11.0B	$10.0B	$15.0B	$12.7B	$13.6B	$14.1B	$9.8B	$10.9B	$11.5B	$12.0B
CTAS May	$4.8B	$5.3B	$6.5B	$6.9B	$7.1B	$7.1B	$7.9B	$8.8B	$9.6B	$10.3B
CSX Dec	$11.1B	$11.4B	$12.2B	$11.9B	$10.6B	$12.5B	$14.9B	$14.7B	$14.5B	$14.1B
Peer median	$6.6B	$7.2B	$8.2B	$8.9B	$9.6B	$11.1B	$10.7B	$10.9B	$11.5B	$12.0B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	-	+3.4%	−1.4%	+14.4%	+13.9%	+20.6%	+16.7%	+27.7%
EXPD Dec	−7.8%	+13.5%	+17.6%	+0.5%	+20.7%	+72.4%	+3.3%	−45.5%	+14.0%	+4.4%
NSC Dec	−5.9%	+6.7%	+8.6%	−1.4%	−13.3%	+13.8%	+14.4%	−4.6%	−0.3%	+0.5%
JBHT Dec	+5.9%	+9.7%	+19.8%	+6.4%	+5.1%	+26.3%	+21.7%	−13.4%	−5.8%	−0.7%
HII Dec	+0.7%	+5.3%	+9.9%	+8.8%	+5.2%	+1.7%	+12.1%	+7.3%	+0.7%	+8.2%
FIX Dec	+3.4%	+9.4%	+22.1%	+19.8%	+9.2%	+7.6%	+34.7%	+25.8%	+35.0%	+29.5%
WAB Dec	−11.4%	+32.4%	+12.4%	+87.9%	−7.9%	+3.5%	+6.9%	+15.7%	+7.3%	+7.5%
J Sep	−9.5%	−8.6%	+67.1%	+20.4%	+6.5%	+3.9%	+5.9%	+10.9%	+6.0%	+4.6%
CTAS May	-	+11.0%	+21.7%	+6.4%	+2.8%	+0.4%	+10.4%	+12.2%	+8.9%	+7.7%
CSX Dec	−6.3%	+3.1%	+7.4%	−2.6%	−11.3%	+18.3%	+18.6%	−1.3%	−0.8%	−3.1%
Peer median	−6.1%	+9.4%	+17.6%	+6.4%	+5.1%	+7.6%	+12.1%	+7.3%	+6.0%	+4.6%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	-	-	-	-	-	-	-	-
EXPD Dec	-	-	-	-	-	-	-	-	-	-
NSC Dec	-	-	-	-	-	-	-	-	-	-
JBHT Dec	-	-	-	-	-	-	-	-	-	-
HII Dec	-	-	-	-	-	-	-	-	-	-
FIX Dec	21.0%	20.5%	20.4%	19.2%	19.1%	18.3%	17.9%	19.0%	21.0%	24.1%
WAB Dec	31.5%	27.4%	28.3%	27.8%	28.3%	30.3%	30.4%	30.4%	32.4%	34.1%
J Sep	16.1%	12.6%	14.4%	19.4%	19.1%	21.6%	26.4%	25.0%	24.6%	24.8%
CTAS May	43.8%	44.7%	44.9%	45.4%	45.6%	46.6%	46.2%	47.3%	48.8%	50.0%
CSX Dec	-	-	-	-	-	-	-	-	-	-
Peer median	26.3%	24.0%	24.4%	23.6%	23.7%	25.9%	28.4%	27.7%	28.5%	29.4%

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	-	4.7%	4.9%	5.2%	3.9%	12.7%	17.1%	17.9%
EXPD Dec	11.0%	10.1%	9.8%	9.7%	9.8%	11.6%	10.7%	10.1%	9.8%	9.5%
NSC Dec	30.4%	33.4%	34.6%	35.3%	30.7%	39.9%	37.7%	23.5%	33.6%	35.8%
JBHT Dec	11.0%	8.7%	7.9%	8.0%	7.4%	8.6%	9.0%	7.7%	6.9%	7.2%
HII Dec	12.4%	11.8%	11.6%	8.3%	8.5%	5.4%	5.3%	6.8%	4.6%	5.3%
FIX Dec	6.2%	5.6%	6.9%	6.3%	6.7%	6.1%	6.1%	8.0%	10.7%	14.4%
WAB Dec	15.6%	10.8%	10.8%	8.1%	9.9%	11.2%	12.1%	13.1%	15.5%	16.1%
J Sep	3.1%	2.4%	2.6%	3.2%	4.0%	4.9%	5.5%	6.2%	6.0%	7.2%
CTAS May	16.0%	14.5%	14.7%	16.4%	16.4%	19.5%	20.2%	20.4%	21.6%	22.8%
CSX Dec	30.8%	32.6%	39.7%	41.6%	41.2%	44.7%	40.1%	37.5%	36.1%	32.1%
Peer median	12.4%	10.8%	10.8%	8.3%	9.8%	11.2%	10.7%	10.1%	10.7%	14.4%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	−7.3%	−3.2%	−7.5%	2.4%	1.3%	6.7%	6.2%	13.0%
EXPD Dec	7.1%	7.1%	7.6%	7.4%	7.3%	8.6%	8.0%	8.1%	7.6%	7.3%
NSC Dec	16.8%	51.2%	23.3%	24.1%	20.6%	27.0%	25.7%	15.0%	21.6%	23.6%
JBHT Dec	6.6%	9.5%	5.7%	5.6%	5.3%	6.3%	6.5%	5.7%	4.7%	5.0%
HII Dec	8.1%	6.4%	10.2%	6.2%	7.4%	5.7%	5.4%	5.9%	4.8%	4.8%
FIX Dec	4.0%	3.1%	5.2%	4.4%	5.3%	4.7%	5.9%	6.2%	7.4%	11.2%
WAB Dec	10.4%	6.8%	6.8%	4.0%	5.5%	7.1%	7.6%	8.4%	10.2%	10.5%
J Sep	1.9%	2.9%	1.1%	6.7%	3.6%	3.4%	6.6%	6.1%	7.0%	2.4%
CTAS May	14.5%	9.0%	13.0%	12.8%	12.4%	15.6%	15.7%	15.3%	16.4%	17.5%
CSX Dec	15.5%	48.0%	27.0%	27.9%	26.1%	30.2%	27.7%	25.0%	23.9%	20.5%
Peer median	8.1%	7.1%	7.6%	6.7%	7.3%	7.1%	7.6%	8.1%	7.6%	10.5%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	−$286.5M	$9.9M	$164.5M	$137.5M	−$252.8M	$772.6M	$1.2B	$1.9B
EXPD Dec	$470.2M	$393.6M	$525.3M	$724.7M	$607.4M	$832.2M	$2.0B	$1.0B	$682.9M	$953.4M
NSC Dec	$1.1B	$1.5B	$1.8B	$1.9B	$2.1B	$2.8B	$2.3B	$852.0M	$1.7B	$2.2B
JBHT Dec	$215.7M	$328.2M	$92.2M	$244.2M	$384.3M	$276.3M	$236.1M	−$117.8M	$617.8M	$947.6M
HII Dec	$537.0M	$432.0M	$451.0M	$366.0M	$740.0M	$429.0M	$482.0M	$678.0M	$26.0M	$794.0M
FIX Dec	$68.0M	$78.6M	$119.9M	$110.3M	$262.4M	$157.8M	$253.2M	$544.7M	$738.0M	$1.0B
WAB Dec	$400.3M	$99.3M	$221.4M	$830.0M	$648.0M	$943.0M	$889.0M	$1.0B	$1.6B	$1.5B
J Sep	$612.5M	$456.8M	$386.3M	−$502.4M	$688.6M	$633.5M	$347.1M	$837.3M	$933.6M	$607.5M
CTAS May	$190.5M	$490.6M	$692.5M	$791.1M	$1.1B	$1.2B	$1.3B	$1.3B	$1.7B	$1.8B
CSX Dec	$643.0M	$1.4B	$2.9B	$3.2B	$2.6B	$3.3B	$3.4B	$3.3B	$2.7B	$1.7B
Peer median	$470.2M	$432.0M	$451.0M	$724.7M	$688.6M	$832.2M	$889.0M	$852.0M	$933.6M	$1.0B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	−6.7%	0.2%	3.8%	2.8%	−4.4%	11.3%	14.4%	18.5%
EXPD Dec	7.7%	5.7%	6.5%	9.1%	6.3%	5.0%	12.0%	10.9%	6.4%	8.6%
NSC Dec	11.6%	14.5%	15.5%	16.6%	21.9%	25.0%	17.8%	7.0%	13.8%	17.7%
JBHT Dec	3.3%	4.6%	1.1%	2.7%	4.0%	2.3%	1.6%	−0.9%	5.1%	7.9%
HII Dec	7.6%	5.8%	5.5%	4.1%	7.9%	4.5%	4.5%	5.9%	0.2%	6.4%
FIX Dec	4.2%	4.4%	5.5%	4.2%	9.2%	5.1%	6.1%	10.5%	10.5%	11.3%
WAB Dec	13.7%	2.6%	5.1%	10.1%	8.6%	12.1%	10.6%	10.5%	15.7%	13.4%
J Sep	5.6%	4.6%	2.6%	−3.9%	5.1%	4.5%	3.5%	7.7%	8.1%	5.0%
CTAS May	4.0%	9.2%	10.7%	11.5%	15.0%	17.1%	16.5%	14.2%	17.3%	17.0%
CSX Dec	5.8%	12.6%	23.6%	26.7%	24.9%	26.4%	23.0%	22.2%	18.7%	12.1%
Peer median	5.8%	5.7%	5.5%	9.1%	8.6%	5.1%	10.6%	10.5%	10.5%	11.3%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	n/m	n/m	n/m	n/m	−63.9%	8.4%	5.3%	22.8%	20.4%	33.8%
EXPD Dec	23.4%	24.6%	31.1%	26.9%	26.2%	40.5%	43.6%	31.5%	36.4%	34.4%
NSC Dec	13.4%	33.0%	17.4%	17.9%	13.6%	22.0%	25.7%	14.3%	18.3%	18.5%
JBHT Dec	30.6%	37.3%	23.3%	22.8%	19.5%	24.4%	26.4%	17.7%	14.2%	16.8%
HII Dec	34.7%	27.2%	55.1%	34.6%	36.6%	19.4%	16.6%	16.6%	11.8%	11.9%
FIX Dec	17.2%	13.2%	22.7%	19.5%	21.6%	17.8%	24.6%	25.3%	30.6%	41.8%
WAB Dec	13.8%	9.3%	10.3%	3.3%	4.1%	5.5%	6.3%	7.8%	10.5%	10.5%
J Sep	4.9%	6.6%	2.8%	14.8%	8.5%	8.0%	10.6%	10.2%	17.7%	7.9%
CTAS May	37.6%	20.9%	27.9%	29.5%	27.1%	30.1%	37.4%	34.9%	36.4%	38.7%
CSX Dec	14.7%	37.2%	26.3%	28.1%	21.1%	28.1%	33.0%	30.6%	27.7%	22.0%
Peer median	17.2%	24.6%	23.3%	22.8%	21.1%	22.0%	25.7%	17.7%	18.3%	18.5%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	-	n/m	4.20	2.10	2.21	1.46	1.20	0.74
EXPD Dec	-	-	-	-	-	-	-	-	-	-
NSC Dec	0.82	0.60	0.73	0.80	0.86	1.01	1.19	1.34	1.20	1.10
JBHT Dec	0.70	0.59	0.55	0.57	0.50	0.30	0.34	0.32	0.24	0.41
HII Dec	0.77	0.73	0.85	0.81	0.89	1.17	0.83	0.60	0.69	0.53
FIX Dec	0.01	0.14	0.15	0.39	0.34	0.48	0.26	0.03	0.04	0.06
WAB Dec	0.86	0.67	1.35	0.44	0.42	0.40	0.40	0.39	0.39	0.50
J Sep	0.09	0.05	0.37	0.21	0.29	0.50	0.56	0.44	0.49	0.61
CTAS May	0.57	1.23	0.84	0.88	0.79	0.45	0.75	0.64	0.47	0.52
CSX Dec	0.97	0.80	1.17	1.37	1.27	1.22	1.45	1.55	1.48	1.43
Peer median	0.74	0.63	0.78	0.69	0.64	0.49	0.66	0.52	0.48	0.52

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
VRT Dec	-	-	−$2.65	−$1.19	−$1.07	$0.33	−$0.04	$1.19	$1.28	$3.41
EXPD Dec	$2.36	$2.69	$3.48	$3.39	$4.07	$8.27	$8.26	$5.01	$5.72	$5.95
NSC Dec	$5.62	$18.61	$9.51	$10.25	$7.84	$12.11	$13.88	$8.02	$11.57	$12.75
JBHT Dec	$3.81	$6.18	$4.43	$4.77	$4.74	$7.14	$9.21	$6.97	$5.56	$6.12
HII Dec	$12.14	$10.46	$19.09	$13.26	$17.14	$13.50	$14.44	$17.07	$13.96	$15.39
FIX Dec	$1.72	$1.47	$3.00	$3.08	$4.09	$3.93	$6.82	$9.01	$14.60	$28.88
WAB Dec	$3.34	$2.72	$3.05	$1.84	$2.17	$2.96	$3.46	$4.53	$6.04	$6.83
J Sep	$1.73	$2.42	$1.18	$6.08	$3.71	$3.20	$4.98	$5.30	$6.32	$2.38
CTAS May	$1.55	$1.09	$1.89	$2.00	$2.03	$2.56	$2.91	$3.25	$3.79	$4.40
CSX Dec	$0.60	$2.00	$1.28	$1.39	$1.20	$1.68	$1.92	$1.82	$1.79	$1.54
Peer median	$2.36	$2.69	$3.05	$3.39	$4.07	$3.93	$6.82	$5.30	$6.04	$6.12

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out VRT and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on VRT in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/VRT/export.csv") into a cell.