The company has fundamentally strengthened its financial position by reducing its debt-to-equity ratio to 0.75 in 2026Q1, down from 2.25 in 2024Q1, while building a $2.2B cash buffer.
| Total Current Assets | 7.98B | 6.82B | 5.1B | 4B | 3.16B | 2.7B | 2.52B | 2.02B | 1.18M | 25K | 25K |
| Cash & Short-Term Investments | 2.5B | 1.83B | 1.23B | 788.6M | 273.2M | 447.1M | 542.6M | 233.7M | 835.54K | 0 | 0 |
| Cash Only | 2.15B | 1.73B | 1.23B | 788.6M | 273.2M | 447.1M | 542.6M | 233.7M | 835.54K | 0 | 0 |
| Short-Term Investments | 349.9M | 99.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3.15B | 3.11B | 2.36B | 2.19B | 1.89B | 1.54B | 1.35B | 1.21B | 1.25B | 25K | 25K |
| Days Sales Outstanding | 100.14 | 110.93 | 107.64 | 116.21 | 121.13 | 112.2 | 113.11 | 99.85 | 106.61 | 0 | 0 |
| Inventory | 1.83B | 1.46B | 1.24B | 884.3M | 822M | 616.3M | 446.6M | 401M | 0 | 404.1M | 0 |
| Days Inventory Outstanding | 80.96 | 79.17 | 86.37 | 69.5 | 69.92 | 62.15 | 53.88 | 47.1 | - | 57.46 | - |
| Other Current Assets | 500.8M | 426.1M | 262.5M | 143.4M | 174.7M | 98.8M | 175.2M | 180.01M | -1.25B | -792.1M | 0 |
| Total Non-Current Assets | 5.42B | 5.39B | 4.03B | 4B | 3.94B | 4.24B | 2.56B | 2.64B | 696.16M | 2.82B | 0 |
| Property, Plant & Equipment | 997.5M | 1.22B | 827.2M | 733.6M | 655.8M | 489.3M | 427.6M | 428.2M | 441.7M | 462.8M | 0 |
| Fixed Asset Turnover | 10.54x | 8.35x | 9.69x | 9.36x | 8.68x | 10.21x | 10.22x | 10.35x | 9.70x | 8.38x | - |
| Goodwill | 2.02B | 2.03B | 1.32B | 1.33B | 1.28B | 1.33B | 607.2M | 605.8M | 634M | 596.1M | 0 |
| Intangible Assets | 1.81B | 1.89B | 1.49B | 1.67B | 1.82B | 2.14B | 1.3B | 1.44B | 1.56B | 1.66B | 0 |
| Long-Term Investments | 24.5M | 0 | 33.3M | 44.5M | 73.3M | 16.1M | 0 | 0 | 696.16M | 0 | 0 |
| Other Non-Current Assets | 410.5M | 60M | 58.7M | 55.9M | 60.7M | 219.4M | 196.8M | 155.4M | 696.16M | 98.3M | 0 |
| Total Assets | 13.4B | 12.21B | 9.13B | 8B | 7.1B | 6.94B | 5.07B | 4.66B | 697.34M | 25K | 25K |
| Asset Turnover | 0.93x | 0.84x | 0.88x | 0.86x | 0.80x | 0.72x | 0.86x | 0.95x | 6.15x | 155176.00x | 157740.00x |
| Asset Growth % | 125.5% | 33.72% | 14.18% | 12.72% | 2.25% | 36.77% | 8.94% | 567.88% | 2789256.2% | 0% | - |
| Total Current Liabilities | 5.34B | 4.41B | 3.1B | 2.31B | 1.9B | 1.85B | 1.74B | 30.75M | 1.28M | 1.28K | 0 |
| Accounts Payable | 1.95B | 1.76B | 1.32B | 986.4M | 984M | 858.5M | 730.5M | 6.6M | 1.18M | 1.28K | 0 |
| Days Payables Outstanding | 92.7 | 95.47 | 91.36 | 77.53 | 83.7 | 86.57 | 88.13 | 0.78 | 0.15 | 0 | - |
| Short-Term Debt | 0 | 20.9M | 66.7M | 64.7M | 67M | 63.9M | 64.3M | 35M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 6.67B | 1.81B | 1.06B | 638.9M | 358.7M | 291M | 235.7M | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 73.5M | 771.6M | 419.1M | 403.5M | 335.9M | 494.5M | 553.8M | 486.6M | 1.18M | 1.28K | 0 |
| Current Ratio | 1.49x | 1.55x | 1.65x | 1.74x | 1.66x | 1.45x | 1.45x | 65.60x | 0.92x | 19.59x | - |
| Quick Ratio | 1.15x | 1.22x | 1.25x | 1.35x | 1.23x | 1.12x | 1.19x | 52.56x | 0.92x | -316673.20x | - |
| Cash Conversion Cycle | 88.4 | 94.63 | 102.64 | 108.19 | 107.35 | 87.78 | 78.86 | 146.18 | - | 57.47 | - |
| Total Non-Current Liabilities | 3.81B | 3.86B | 3.6B | 3.68B | 3.76B | 3.67B | 2.82B | 3.84B | 24.15M | 0 | 0 |
| Long-Term Debt | 2.92B | 3.14B | 3.08B | 2.92B | 3.17B | 2.95B | 2.13B | 3.47B | 0 | 3.16B | 0 |
| Capital Lease Obligations | 950.1M | 245.2M | 171.4M | 142.6M | 132M | 113.6M | 107.3M | 78.2M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 991.7M | 232.8M | 240.3M | 159.5M | 176.5M | 198.8M | 116.5M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 398.2M | 248.8M | 19.6M | 395.2M | 228.8M | 344.3M | 427M | 131M | 24.15M | 0 | 0 |
| Total Liabilities | 9.16B | 8.27B | 6.7B | 5.98B | 5.65B | 5.52B | 4.56B | 5.36B | 25.43M | 1.28K | 0 |
| Total Debt | 3.19B | 3.4B | 3.32B | 3.13B | 3.37B | 3.13B | 2.3B | 3.58B | 0 | 0 | 0 |
| Net Debt | 1.04B | 1.68B | 2.08B | 2.34B | 3.09B | 2.68B | 1.76B | 3.35B | -835.54K | 0 | 0 |
| Debt / Equity | 0.75x | 0.86x | 1.36x | 1.55x | 2.34x | 2.21x | 4.50x | - | - | - | - |
| Debt / EBITDA | 1.36x | 1.54x | 2.00x | 2.65x | 6.42x | 6.30x | 4.27x | 8.41x | - | - | - |
| Net Debt / EBITDA | 0.44x | 0.76x | 1.26x | 1.98x | 5.90x | 5.40x | 3.26x | 7.86x | -0.13x | - | - |
| Interest Coverage | 32.96x | 22.03x | 6.09x | 3.44x | 2.13x | 2.83x | -0.69x | 0.66x | - | - | - |
| Total Equity | 4.24B | 3.94B | 2.43B | 2.01B | 1.44B | 1.42B | 512.1M | -704.8M | 671.91M | 23.72K | 25K |
| Equity Growth % | 317.84% | 61.91% | 20.81% | 39.74% | 1.71% | 176.84% | 172.66% | -204.89% | 2832101.67% | -5.1% | - |
| Book Value per Share | 10.83 | 10.09 | 6.30 | 5.22 | 3.81 | 3.99 | 1.67 | -5.96 | 7.79 | 0.00 | 0.00 |
| Total Shareholders' Equity | 4.24B | 3.94B | 2.43B | 2.01B | 1.44B | 1.42B | 512.1M | 678.3M | 671.91M | 23.72K | 25K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 673.3M | 666.91M | 1.73K | 1.73K |
| Retained Earnings | 1.39B | 1.03B | -238.3M | -691.9M | -1.14B | -1.22B | -1.33B | 5M | 4.73M | -304.69K | -303.42K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -76.2M | 18.2M | -148.8M | -4.5M | -46.2M | 35.6M | 51.5M | 18.1M | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Hyperscale customer concentration risk
According to quarterly balance sheet data, Vertiv has successfully transitioned from a net loss position in 2024Q1 to a positive retained earnings balance of $1.4B by 2026Q1, signaling a fundamental strengthening of the company's equity base alongside a significant reduction in leverage ratios.
The shift from negative to positive retained earnings suggests that the company has moved past its initial post-SPAC restructuring phase and is now generating consistent internal capital. This trajectory indicates that the business model is successfully scaling, with the balance sheet now providing a much sturdier foundation for future operational investments.
As reported in financial statements, Vertiv has aggressively reduced its debt-to-equity ratio from 2.25 in 2024Q1 to 0.75 in 2026Q1, while maintaining a stable total debt load of approximately $3.1B to $3.2B throughout the ten-quarter period.
By keeping absolute debt levels constant while rapidly expanding equity, management appears to have prioritized balance sheet repair without relying on dilutive equity raises. This disciplined approach to capital structure suggests that the company is well-positioned to manage interest obligations even if the current high-growth environment faces future macro-economic headwinds.
Based on reported figures, Vertiv's cash position has expanded significantly from $280.5M in 2024Q1 to $2.2B in 2026Q1, providing a robust liquidity buffer that supports the company's ability to navigate the working capital demands of large-scale, project-based data center infrastructure deployments.
The improvement in the current ratio to 1.49 suggests that the company is effectively managing its short-term obligations relative to its growing asset base. This liquidity profile appears sufficient to fund ongoing operational requirements and potential supply chain investments without necessitating immediate external financing.
Data from recent filings indicates that deferred revenue has surged to $2.5B in 2026Q1 from $802.3M in 2024Q1, which warrants careful monitoring as it reflects the company's reliance on percentage-of-completion accounting for large-scale, long-cycle data center projects.
While this growth in deferred revenue is a positive indicator of demand, it also implies that a significant portion of the balance sheet is tied to unearned performance obligations. Investors should consider that any delays in project execution or customer-driven rescheduling could lead to a reversal of these trends, potentially impacting future cash flow realization.
Quick answers to the most common questions about buying VRT stock.
As of 2025, Vertiv Holdings Co (VRT) had total assets of $12.21B including $6.82B in current assets.
Vertiv Holdings Co (VRT) carries total debt of $3.40B, offset by $1.83B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Vertiv Holdings Co (VRT) has total shareholders' equity (book value) of $3.94B ($10.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Vertiv Holdings Co (VRT) reported a current ratio of 1.55x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.