Vertiv Backlog Hits Record $15 Billion On Strong AI Demand

by | Feb 11, 2026 | General

Vertiv Holdings (NYSE:VRT) stock is trading higher after the company reported fourth-quarter fiscal 2025 results.

Details

Net sales rose 23% year-over-year (Y/Y) to $2.880 billion, just shy of the $2.882 billion Street consensus. Organic sales increased 19% Y/Y in the quarter.

Also, organic orders surged nearly 252% Y/Y and rose 117% sequentially from the third quarter of 2025.

Trailing twelve-month organic orders for the fourth quarter surged 81% Y/Y from the prior-year period, aided by strong market demand, mainly in AI infrastructure.

Book-to-bill ratio was ~2.9x, and backlog rose 109% Y/Y to record $15.0 billion.

Adjusted operating profit surged 33% Y/Y to $668 million, and margin expanded 170 basis points to 23.2%, aided by increased volumes, productivity, and favorable price-cost.

Adjusted EPS stood at $1.36, beating the consensus of $1.28.

Liquidity stood at $2.6 billion at the end of the quarter.

Outlook

For the first quarter of 2026, Vertiv expects net sales of $2.5 billion to $2.7 billion, compared with the $2.528 billion consensus estimate, driven by projected organic growth of 18% to 26%. The company also guided for adjusted EPS of $0.95 to $1.01, above the Street’s 94-cent forecast.

For 2026, the company forecasts adjusted EPS of $5.97 to $6.07, well above the Street’s $5.33 estimate, and revenue of $13.25 billion to $13.75 billion, topping the $12.39 billion consensus. Organic sales are expected to grow 27% to 29% for the year.

Management Commentary

“Our fourth quarter performance demonstrates Vertiv’s leadership position in an increasingly complex and demanding data center market,” said Giordano Albertazzi, Vertiv’s Chief Executive Officer. “Significant growth in orders, sales, margins and cash reflects our ability to scale while maintaining a sharp focus on operational execution.”

“As we look to 2026, we expect this momentum to continue. Our record backlog provides clear visibility into what we expect to be another year of significant growth,” Albertazzi said.

VRT Price Action: Vertiv Holdings shares were up 22.76% at $245.05 at the time of publication on Wednesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

Photo by T. Schneider via Shutterstock