1) Strategic Execution and Leadership
- Vertiv Holdings Co. demonstrated strong execution in Q4 2025, with significant momentum heading into 2026.
- The leadership team, particularly CEO Giordano Albertazzi, emphasized the importance of engineering innovation, capacity expansion, and customer partnerships in driving growth.
- The company is positioned to benefit from the accelerating AI-driven infrastructure build-out, particularly in data centers.

2) Financial and Segment Results
- Q4 2025 organic orders increased by 152% YoY and 117% sequentially, with a trailing twelve-month organic orders growth of 81%.
- Backlog reached $15 billion, more than double from the previous year, with a book-to-bill ratio of 2.9.
- Q4 organic net sales rose 19%, driven by a 46% increase in The Americas, while APAC and EMEA saw declines of 9% and 14%, respectively.
- Adjusted operating margin for Q4 was 23.2%, up 170 basis points YoY, with adjusted diluted EPS at $1.36, a 37% increase from Q4 2024.
- Full-year 2025 adjusted diluted EPS was $4.20, up 47%, with net sales of $10.2 billion, reflecting 26% organic growth.

3) Challenges and Headwinds
- APAC faced challenges, particularly in China, which remains muted, impacting overall regional performance.
- EMEA is expected to recover in the second half of 2026, but currently shows softness in the market.
- The company is managing material inflation pressures through pricing mechanisms and supplier collaboration.

4) Operational and Product Plans
- Vertiv is focusing on capacity expansion, planning to increase CapEx to 3-4% of sales in 2026, up from the historical 2-3%.
- New product offerings, such as OneCore and SmartRun, are designed to simplify and accelerate customer deployments in data centers.
- The service portfolio is a critical competitive advantage, with life cycle services orders growing over 25% YoY.

5) Guidance and Outlook
- For 2026, Vertiv projects adjusted diluted EPS of $6.20, representing 43% growth at the midpoint, with net sales guidance of $13.5 billion (28% organic growth).
- The Americas are expected to lead growth with high 30% sales growth, while APAC is projected at mid-20% growth, and EMEA flat to down mid-single digits.
- The company anticipates adjusted free cash flow of $2.2 billion, reflecting strong profit growth and working capital improvements.

Bottom line: Vertiv Holdings Co. is well-positioned for continued growth in 2026, driven by strong order momentum, strategic investments in capacity and technology, and a robust service portfolio, despite facing regional challenges in APAC and EMEA.