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US equity markets/AI Value chain/VRT

Vertiv

VRT·NYSE·USD

208.56+8.78 (+4.39%)
Regular-session close·Definitions
Price history2020-02-10 — 2026-10-23Valid trading days: 1,685 · Unverified dates: 1 · Through 2026-10-23 · All expected trading dates since listing are present · History update delayed
Operating history2019-12-31 — 2026-06-308 historical metrics · 27 workpaper periods
Coverage limitations

Daily history updates are delayed. Available history through 2026-10-23 remains visible; a current quote does not establish that daily history has been updated.

Requests to the historical-data source are rate limited, delaying daily-price updates. Existing verified periods are retained; trading days not yet retrieved are not fabricated.

The first price observation reaches the verified listing date. This does not mean that security continuity, every trading day and adjusted prices have all been verified throughout the history.

The first price reaches the verified listing date 2020-02-10. Trading-date coverage and price verification are shown separately below.

Trading dates checked for 2020-02-10 — 2026-10-23: all 1,686 expected dates are present. Complete dates do not establish independent verification of every price.

Security basis: The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately. Historical closes use the provider's split adjustments and exclude dividend distributions. Full-history adjustment factors have not been independently recalculated. Price changes do not represent total returns including dividends.

1 dates have missing or conflicting prices. Their dates remain visible with gaps in the chart; missing values are not replaced with zero or connected across gaps.

Original verification records

verified-listing-start-covered

History update reason: source-rate-limited-until 2026-10-28T04:39:08.620Z

Vertiv operating-company trading identity begins February 10, 2020. Earlier GSAH SPAC/unit history is excluded.

View sources and versions ↗

Price and operations

Research history
27 quarters of financial metrics; orders and book-to-bill ratios are not estimated for periods after disclosure ceased.

Period end is the end of the operating period. Source-publication mode uses the publication date of the document selected, without asserting that it was the first disclosure. Expand the notes below the chart for definitions and sources.

Add metrics 4
Available metrics: 8

Financials and cash flow

Last value in range
VRT Share priceTrading day
USD100200300400194.32
Cash conversion cycleQuarterly observations
days8090100110106
Days sales outstandingQuarterly observations
days95100105110104.2
Days inventory outstandingQuarterly observations
days6080100120113
Days payable outstandingQuarterly observations
days9010011012025.10.2326.01.0126.04.0126.07.0126.10.23110

Time rangeVRT Share price

2025-10-23 — 2026-10-23
Methodology and controls

Each panel has its own value axis; dates and the cursor are synchronized. Operating data appear only on their observed dates; other dates are left blank. US daily prices are checked against the verified 1997–2027 trading calendar. A missing expected trading day breaks the line; weekends and recorded exchange holidays do not. Operating data are positioned at the actual period end, which is not necessarily the date of public disclosure. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

1685 valid price observations · 4 operating metricsFull analysis workspace
Underlying data Operating metrics: 4
Observations in this chart, including unverified periods or dates · original values and source versions retained
Selected operating metrics; records with values and current chart gaps appear first. Unverified dates are excluded from charts.
Reporting period endCash conversion cycledays · Calculated from disclosuresDays sales outstandingdays · Calculated from disclosuresDays inventory outstandingdays · Calculated from disclosuresDays payable outstandingdays · Calculated from disclosures
2026-06-302026Q2106.44
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 7 items
dso
104.229087
dio
112.565313
dpo
110.352113
Days in the quarter
91
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
104.23
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
3,750.3
flow
3,274.3
Days in the quarter
91
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
112.57
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
2,522.7
flow
2,039.4
Days in the quarter
91
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
110.35
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
2,473.1
flow
2,039.4
Days in the quarter
91
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
2026-03-312026Q1100.57
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 7 items
dso
106.957162
dio
100.081222
dpo
106.469269
Days in the quarter
90
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
106.96
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
3,148.7
flow
2,649.5
Days in the quarter
90
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
100.08
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
1,834.6
flow
1,649.8
Days in the quarter
90
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
106.47
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
1,951.7
flow
1,649.8
Days in the quarter
90
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
2025-12-312025Q483.63
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 7 items
dso
99.315278
dio
76.195838
dpo
91.884908
Days in the quarter
92
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
99.32
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
3,109
flow
2,880
Days in the quarter
92
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
76.20
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
1,456.5
flow
1,758.6
Days in the quarter
92
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
91.88
Basis · Calculated from disclosures

Dates for the source versions used are still missing

View calculation inputs · 6 items
balance
1,756.4
flow
1,758.6
Days in the quarter
92
sourceFile
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
periodConvention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact
VRT SEC filings index
Calculations and sources 4 items
Cash conversion cycledays · Calculated from disclosures
Calculation basis

DSO + DIO − DPO

Reading guide

Uses period-end balances. Components are also displayed to avoid judging demand conditions from the total alone.

Data classification

Calculated from disclosures · days

Supporting sources
VRT SEC filings index
Days sales outstandingdays · Calculated from disclosures
Calculation basis

Period-end accounts receivable balance ÷ single-quarter flow amount × days in the quarter

Reading guide

Uses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.

Data classification

Calculated from disclosures · days

Supporting sources
VRT SEC filings index
Days inventory outstandingdays · Calculated from disclosures
Calculation basis

Period-end inventory balance ÷ single-quarter flow amount × days in the quarter

Reading guide

Uses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.

Data classification

Calculated from disclosures · days

Supporting sources
VRT SEC filings index
Days payable outstandingdays · Calculated from disclosures
Calculation basis

Period-end accounts payable balance ÷ single-quarter flow amount × days in the quarter

Reading guide

Uses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.

Data classification

Calculated from disclosures · days

Supporting sources
VRT SEC filings index
Research context · VRT

Cash performance and capital tied up in delivery must be assessed together

View operating trends ↗

Can customer advances fund inventory and delivery without mistaking a current cash improvement for recurring earnings?

Current-period facts

Deferred revenue is 3,756.30 million USD, equivalent to 32.72% of TTM revenue, increased by 8.68 percentage points quarter over quarter. The FCF margin increased by 3.60 percentage points quarter over quarter, while the CCC increased by 5.87 days over the same period. The cash margin and capital tied up in delivery measure different stages of the operating cycle.

Filing index ↗
Current evidence, comparable changes and implications
Operating observationsCurrent valueComparable changes and historical contextWhy it matters
Deferred revenue / TTM revenue Calculated from disclosures2026Q2 · 2026-06-3032.72 %
QoQ
+8.68 percentage pointsCompared with 2026-03-31 · 24.04
YoY
+17.73 percentage pointsCompared with 2025-06-30 · 15.00
Rank 12 / 12 over the last 12 quarters (ascending)9.01 — 32.72 %2023-09-30 to 2026-06-30

Ending current and noncurrent deferred revenue divided by revenue for four consecutive quarters. This is a stock-to-flow ratio, not coverage of future revenue.

Original inputs and sources Source date unverified

(Current + non-current deferred revenue) ÷ revenue for four consecutive quarters × 100；The relative size of customer advance receipts; this is not orders, RPO or the proportion of revenue to be recognized in the future.

Current deferred revenue
3,633.700000
Noncurrent deferred revenue
122.600000
Trailing four-quarter revenue
11,479.600000
Supporting calculations
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
Period convention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact

Original documents for the current, comparison and historical periods:

Filing index ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

Cash conversion cycle Calculated from disclosures2026Q2 · 2026-06-30106.44 days
QoQ
+5.87 daysCompared with 2026-03-31 · 100.57
YoY
+18.81 daysCompared with 2025-06-30 · 87.63
Rank 11 / 12 over the last 12 quarters (ascending)81.07 — 116.72 days2023-09-30 to 2026-06-30

DSO 104.23 + DIO 112.57 − DPO 110.35, in days. Customer advances are outside this formula and should be examined separately.

Original inputs and sources Source date unverified

DSO + DIO − DPO；Uses period-end balances. Components are also displayed to avoid judging demand conditions from the total alone.

Days sales outstanding
104.229087
Days inventory outstanding
112.565313
Days payable outstanding
110.352113
Days in period
91.000000
Supporting calculations
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
Period convention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact

Original documents for the current, comparison and historical periods:

Filing index ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

Free cash-flow margin Calculated from disclosures2026Q2 · 2026-06-3028.30 %
QoQ
+3.60 percentage pointsCompared with 2026-03-31 · 24.69
YoY
+17.76 percentage pointsCompared with 2025-06-30 · 10.53
Rank 11 / 12 over the last 12 quarters (ascending)6.20 — 30.75 %2023-09-30 to 2026-06-30

Base FCF is CFO less cash purchases of PP&E and is affected by changes in advances. Software capital expenditure is deducted in a separate measure.

Original inputs and sources Source date unverified

(CFO − cash purchases of PP&E) ÷ revenue × 100; The standardized base FCF definition excludes software capital expenditure. The original report's FCF also deducts software expenditure; the two definitions are not mixed.

Operating cash flow
1,099.800000
Cash purchases of PP&E
173.300000
Revenue
3,274.300000
Excludes software capital expenditure
1.200000
Supporting calculations
research/report-vrt-deep-dive-2026-08/data-xbrl-series.json
Period convention
The original working dataset records only quarter/end. Days are counted by calendar quarter only after the quarter label and calendar quarter-end date match exactly; the original XBRL start date is not preserved. Filing-version dates for individual observations were not recorded.
Basis for period start
calendar-convention-not-raw-fact

Original documents for the current, comparison and historical periods:

Filing index ↗

The filing version may postdate the first disclosure and must not be treated as information available at that earlier date.

What to check in the next disclosure

Updates follow actual announcements; no earnings date is assumed.
Current counterevidence

The FCF margin increased by 17.76 percentage points year over year, and deferred revenue is 1.49× inventory. Advance collections may cushion expansion funding needs, but the ratio of balances does not establish that funds are earmarked or can be retained permanently.

Filing index ↗

Does the cash margin depend on new advances?

Deferred revenue / TTM revenue
32.72 %2026-06-30 · Calculated from disclosures
Free cash-flow margin
28.30 %2026-06-30 · Calculated from disclosures
Next check

Reconcile deferred-revenue recognition, new collections and base FCF in the next period.

Conditions that would change the assessment

If deferred-revenue coverage declines while the FCF margin remains at least as high as this period, dependence on continuing new advances becomes less persuasive.

Is capital tied up in delivery?

Cash conversion cycle
106.44 days2026-06-30 · Calculated from disclosures
Days inventory outstanding
112.57 days2026-06-30 · Calculated from disclosures
Deferred revenue / inventory
1.49 x2026-06-30 · Calculated from disclosures
Next check

Review inventory, receivables and advances together. Do not substitute advances for order data that is no longer disclosed.

Conditions that would change the assessment

If advances slow while DIO and CCC keep rising, the current cash advantage cannot be treated as a permanent improvement in capital efficiency.

Mechanisms, counterarguments and evidence limits

  1. Customer payments

    Advances initially enter cash and deferred revenue, showing that payment precedes fulfillment. They do not directly measure additions to the order book.

    View the corresponding series

  2. Inventory and delivery

    Inventory and receivables consume cash, while payables defer outflows. Simultaneous increases in advances and inventory do not establish that those funds are earmarked.

    View the corresponding series

  3. Cash flow and valuation

    Fulfillment releases deferred revenue. Further cash growth depends on new advances, collections and investment; a one-time cash release cannot be capitalized permanently.

    View the corresponding series

Strongest alternative explanation

Long-delivery projects may naturally carry high advances and inventory, while early collections reduce funding needs. If delivery produces earnings and collections, the advance structure can improve operating capital efficiency.

Missing evidenceSome order metrics are no longer disclosed quantitatively, and point-by-point filing versions remain incomplete. The current data cannot reconstruct order growth or support a filing-date backtest free from look-ahead bias.

Period-end dates in the research history can be confirmed, but some sources identify only filing indexes. Missing source-version information is retained for each observation. Quarter-over-quarter and year-over-year comparisons check fiscal-quarter labels and actual date intervals. Historical positions use at least 8 and at most 12 consecutive comparable quarters, ranked from low to high. Working-capital contribution ratios are not compared when CFO is non-positive. This is neither a peer ranking nor a valuation percentile.

Business and research scope

How the business turns into revenue and cash, and what the available evidence can establish.

Company website ↗

Vertiv supplies power, thermal management, IT infrastructure and services for data centers, communications networks and industrial facilities, covering critical digital infrastructure from cloud to edge.

Company profile and filings
Legal name
Vertiv Holdings Co
Exchange / quote currency
NYSE / USD
Reporting currency
USD
Source industry classification
Industrial Machinery/Components
Financial period end / Source version used
2026-06-30 / 2026-07-29
Value-chain roles (not revenue shares)
Data-center infrastructure (power / cooling)
Check SEC filings index ↗

Related companies in the value chain

Shared value-chain roles do not establish direct peer status or valuation comparability.
ETNEaton384.20+3.30%TTTrane461.07+1.33%JCIJohnson Controls International plc155.88+5.68%EMREmerson Electric Company166.27+2.83%MPWRMonolithic Power Systems, Inc.1,211.89+3.82%
MARKET DATA

Quote details

Candlesticks, volume and cross-company prices

208.56 +4.39%
2026-07-23 — 2026-10-23Price change over the selected period -36.09%
Provider split-adjusted prices excluding dividends, USD. Recorded trading days are equally spaced from 2026-07-23 to 2026-10-23 (66 trading days). Volume is shown separately in shares.USD150200250300350194.32Volume · shares2026-07-23 Volume 3,098,500 shares2026-07-24 Volume 3,405,200 shares2026-07-27 Volume 5,017,300 shares2026-07-28 Volume 8,157,500 shares2026-07-29 Volume 21,265,700 shares2026-07-30 Volume 14,508,000 shares2026-07-31 Volume 10,849,600 shares2026-08-03 Volume 9,517,100 shares2026-08-04 Volume 5,802,700 shares2026-08-05 Volume 5,933,200 shares2026-08-06 Volume 5,084,700 shares2026-08-07 Volume 3,909,500 shares2026-08-10 Volume 2,859,500 shares2026-08-11 Volume 3,686,900 shares2026-08-12 Volume 4,034,300 shares2026-08-13 Volume 3,120,100 shares2026-08-14 Volume 3,153,600 shares2026-08-17 Volume 3,575,900 shares2026-08-18 Volume 5,584,100 shares2026-08-19 Volume 6,206,500 shares2026-08-20 Volume 5,219,700 shares2026-08-21 Volume 3,207,800 shares2026-08-24 Volume 3,982,100 shares2026-08-25 Volume 3,921,600 shares2026-08-26 Volume 3,930,900 shares2026-08-27 Volume 4,604,800 shares2026-08-28 Volume 3,840,500 shares2026-08-31 Volume 4,082,600 shares2026-09-01 Volume 4,279,200 shares2026-09-02 Volume 3,011,200 shares2026-09-03 Volume 4,241,000 shares2026-09-04 Volume 3,318,600 shares2026-09-08 Volume 4,751,000 shares2026-09-09 Volume 9,798,800 shares2026-09-10 Volume 10,055,200 shares2026-09-11 Volume 4,767,600 shares2026-09-14 Volume 10,905,000 shares2026-09-15 Volume 5,728,200 shares2026-09-16 Volume 5,514,600 shares2026-09-17 Volume 4,967,200 shares2026-09-18 Volume 7,837,100 shares2026-09-21 Volume 4,867,500 shares2026-09-22 Volume 3,518,200 shares2026-09-23 Volume 3,549,000 shares2026-09-24 Volume 4,122,500 shares2026-09-25 Volume 4,127,100 shares2026-09-28 Volume 4,274,800 shares2026-09-29 Volume 3,289,900 shares2026-09-30 Volume 4,176,500 shares2026-10-01 Volume 3,469,200 shares2026-10-02 Volume 3,344,900 shares2026-10-05 Volume 4,352,200 shares2026-10-06 Volume 4,238,300 shares2026-10-07 Volume 5,491,400 shares2026-10-08 Volume 5,873,500 shares2026-10-09 Volume 3,421,900 shares2026-10-12 Volume 3,530,700 shares2026-10-13 Volume 4,801,500 shares2026-10-14 Volume 7,365,800 shares2026-10-15 Volume 12,921,900 shares2026-10-16 Volume 6,447,300 shares2026-10-19 Volume 4,891,200 shares2026-10-20 Volume 6,804,100 shares2026-10-21 Volume 6,412,200 shares2026-10-22 Volume 8,434,200 shares2026-10-23 Volume 7,379,700 shares21.3M007-2308-1409-0910-0110-23
Daily · Provider split-adjusted prices, excluding dividends · USD · Valid closes: 1685 / trading dates: 1686Market data source
MARKET & FUNDAMENTALS

Quote and valuation methodology

Data timestamps

Trading overview

Previous close
199.78
Session open
203.00
Session range
203.00 – 210.92
Session volume
8.43 M
20 Average daily volume
5.55 M
Historical range
4.75 – 379.93

Valuation and cash

Market cap · USD
93.63 B
Price / sales · TTM
8.16
Free cash flow yield
3.13%

Financial denominator

Revenue · TTM
11.48 B USD
Period end
2026-06-30
Source version
2026-07-29

Quote 2026-10-27Market cap retrieved 2026-10-28Financial period end 2026-06-30

OPERATING BRIDGE

Operating breakdown

Actual cash and capital movements
2026Q2 customer advances, inventory and payment timingDetails: 5
2026Q2 customer advances, inventory and payment timing
ProjectAmountUSD million
Current deferred revenue3,633.70
Noncurrent deferred revenue122.60
Inventory2,522.70
Accounts receivable3,750.30
Accounts payable2,473.10

All amounts are period-end balances, not additive movements in a cash-flow bridge. The source is historical XBRL data, not the latest quarter.

VRT SEC filings index

Research and further reading

Explore the evidence and reasoning behind these operating questions in public articles and full reports.

Research hub ↗
In-depth research · VRT

Vertiv (VRT) in-depth research · English and Chinese ↗

Examine growth in power and cooling equipment, customer advances and cash tied up in inventory; test the sustainability of cash flow and capital investment.

Edition and access scope

3rd edition · EN + ZH PDFs · 19 figures, 31 tables · three-horizon view · Target-price analysis

View report
Further questions to investigate

Examine how customer advances, inventory preparation and supplier payment terms support delivery of data-center equipment.

Open price and operating analysis ↗

Financial comparison

Select two specific periods to compare changes in scale, earnings and cash.

Quarter · As of 2026-06-30Source version used 2026-07-29 · Original currency USD
USD · Quarter
Current period 2026-04-01 — 2026-06-30Comparison period 2026-01-01 — 2026-03-31
Financial comparison of two defined periods; expand values for source records
Line itemCurrent periodComparison periodAmount changeGrowth
RevenueRecognized revenue; growth is calculated only when the comparison-period base is positive
3.27 B

Raw value 3,274,300,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

2.65 B

Raw value 2,649,500,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+624.80 M+23.58%
Operating incomeOperating margin 19.48% · Change +2.87 percentage points
637.90 M

Raw value 637,900,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

440.10 M

Raw value 440,100,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+197.80 M+44.94%
Net incomeNet margin 15.20% · Change +0.48 percentage points
497.80 M

Raw value 497,800,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

390.10 M

Raw value 390,100,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+107.70 M+27.61%
Operating cash flowOperating cash flow / revenue 33.59% · Change +4.65 percentage points
1.10 BDerived by subtraction

Raw value 1,099,800,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 1.87 B USD · Source version 2026-07-29
  • Subtract: 2026-01-01 — 2026-03-31 · 766.80 M USD · Source version 2026-04-22
766.80 M

Raw value 766,800,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+333.00 M+43.43%
Capital expenditureCapital expenditure / revenue 5.29% · Change +1.04 percentage points
173.30 MDerived by subtraction

Raw value 173,300,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 285.90 M USD · Source version 2026-07-29
  • Subtract: 2026-01-01 — 2026-03-31 · 112.60 M USD · Source version 2026-04-22
112.60 M

Raw value 112,600,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

+60.70 M+53.91%
Comparable values unavailable for the two selected periods · Gross profit
  • Gross profit：Reported value unavailable; Reported value unavailable.
Check filing sources ↗

The change is the current value minus the comparison value; it is not automatically classified as year-over-year or quarter-over-quarter. Select a value to inspect reporting dates, filing versions and reconstruction inputs.

Historical trends and full financials
Comparable-period financial trends
Last value in range
USD million-1k01k2k3k4k2019.032022.012024.012026.063.3k638498

Time rangeRevenue

2019-03-31 — 2026-06-30
Methodology and controls

Series with the same unit and frequency share a value axis. Each column compares observations with matching period boundaries and units. Records that fail those checks remain blank. Drag within the chart to zoom and move the range window below to pan. Quarterly values are not filled across other trading days.

Scroll to see all periods; select a value to open its source →

Quarterly financials, USD. Records without verified periods or units are excluded from comparison columns.
Reporting period end · USD2019-03-312019-06-302019-09-302019-12-312020-03-312020-06-302020-09-302020-12-312021-03-312021-06-302021-09-302021-12-312022-03-312022-06-302022-09-302022-12-312023-03-312023-06-302023-09-302023-12-312024-03-312024-06-302024-09-302024-12-312025-03-312025-06-302025-09-302025-12-312026-03-312026-06-30
Revenue
1.05 B

Raw value 1,054,800,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

1.13 B

Raw value 1,134,100,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reported data

1.07 B

Raw value 1,070,700,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reported data

1.17 B

Raw value 1,171,500,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reported data

897.30 M

Raw value 897,300,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

1.01 B

Raw value 1,005,700,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

1.16 B

Raw value 1,162,000,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

1.31 B

Raw value 1,305,500,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reported data

1.10 B

Raw value 1,098,400,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

1.26 B

Raw value 1,260,300,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

1.23 B

Raw value 1,228,900,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

1.41 BDerived by subtraction

Raw value 1,410,500,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 5.00 B USD · Source version 2024-02-23
  • Subtract: 2021-01-01 — 2021-09-30 · 3.59 B USD · Source version 2022-10-31
1.16 B

Raw value 1,156,400,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

1.40 B

Raw value 1,399,400,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

1.48 B

Raw value 1,481,100,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

1.65 BDerived by subtraction

Raw value 1,654,600,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 5.69 B USD · Source version 2025-02-18
  • Subtract: 2022-01-01 — 2022-09-30 · 4.04 B USD · Source version 2023-10-27
1.52 B

Raw value 1,521,100,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

1.73 B

Raw value 1,734,100,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

1.74 B

Raw value 1,742,600,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

1.87 BDerived by subtraction

Raw value 1,865,400,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 6.86 B USD · Source version 2026-02-13
  • Subtract: 2023-01-01 — 2023-09-30 · 5.00 B USD · Source version 2024-10-25
1.64 B

Raw value 1,639,100,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

1.95 B

Raw value 1,952,800,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

2.07 B

Raw value 2,073,500,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

2.35 BDerived by subtraction

Raw value 2,346,400,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 8.01 B USD · Source version 2026-02-13
  • Subtract: 2024-01-01 — 2024-09-30 · 5.67 B USD · Source version 2025-10-22
2.04 B

Raw value 2,036,000,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

2.64 B

Raw value 2,638,100,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

2.68 B

Raw value 2,675,800,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

2.88 BDerived by subtraction

Raw value 2,880,000,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 10.23 B USD · Source version 2026-02-13
  • Subtract: 2025-01-01 — 2025-09-30 · 7.35 B USD · Source version 2025-10-22
2.65 B

Raw value 2,649,500,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

3.27 B

Raw value 3,274,300,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Gross profit——————————————————————————————
Operating income————
-12.20 M

Raw value -12,200,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

70.60 M

Raw value 70,600,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

35.10 M

Raw value 35,100,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

120.00 MDerived by subtraction

Raw value 120,000,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2020-01-01 — 2020-12-31 · 213.50 M USD · Source version 2023-02-27
  • Subtract: 2020-01-01 — 2020-09-30 · 93.50 M USD · Source version 2021-11-01
79.80 M

Raw value 79,800,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

102.20 M

Raw value 102,200,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

81.80 M

Raw value 81,800,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

-3.90 MDerived by subtraction

Raw value -3,900,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 259.90 M USD · Source version 2024-02-23
  • Subtract: 2021-01-01 — 2021-09-30 · 263.80 M USD · Source version 2022-10-31
-45.20 M

Raw value -45,200,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

26.20 M

Raw value 26,200,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

80.00 M

Raw value 80,000,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

162.40 MDerived by subtraction

Raw value 162,400,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 223.40 M USD · Source version 2025-02-18
  • Subtract: 2022-01-01 — 2022-09-30 · 61.00 M USD · Source version 2023-10-27
130.30 M

Raw value 130,300,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

205.80 M

Raw value 205,800,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

250.90 M

Raw value 250,900,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

285.20 MDerived by subtraction

Raw value 285,200,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 872.20 M USD · Source version 2026-02-13
  • Subtract: 2023-01-01 — 2023-09-30 · 587.00 M USD · Source version 2024-10-25
202.60 M

Raw value 202,600,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

336.00 M

Raw value 336,000,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

371.60 M

Raw value 371,600,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

457.20 MDerived by subtraction

Raw value 457,200,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 1.37 B USD · Source version 2026-02-13
  • Subtract: 2024-01-01 — 2024-09-30 · 910.20 M USD · Source version 2025-10-22
290.70 M

Raw value 290,700,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

442.40 M

Raw value 442,400,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

516.70 M

Raw value 516,700,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

579.90 MDerived by subtraction

Raw value 579,900,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.83 B USD · Source version 2026-02-13
  • Subtract: 2025-01-01 — 2025-09-30 · 1.25 B USD · Source version 2025-10-22
440.10 M

Raw value 440,100,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

637.90 M

Raw value 637,900,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Net income
-74.30 M

Raw value -74,300,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

-18.90 M

Raw value -18,900,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reported data

-13.70 M

Raw value -13,700,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reported data

-33.90 M

Raw value -33,900,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reported data

-208.30 M

Raw value -208,300,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

-56.00 M

Raw value -56,000,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reported data

-103.50 M

Raw value -103,500,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reported data

40.50 M

Raw value 40,500,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reported data

31.70 M

Raw value 31,700,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

9.70 M

Raw value 9,700,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reported data

56.20 M

Raw value 56,200,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reported data

22.00 MDerived by subtraction

Raw value 22,000,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 119.60 M USD · Source version 2024-02-23
  • Subtract: 2021-01-01 — 2021-09-30 · 97.60 M USD · Source version 2022-10-31
8.50 M

Raw value 8,500,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

20.30 M

Raw value 20,300,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reported data

21.20 M

Raw value 21,200,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reported data

26.60 MDerived by subtraction

Raw value 26,600,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 76.60 M USD · Source version 2025-02-18
  • Subtract: 2022-01-01 — 2022-09-30 · 50.00 M USD · Source version 2023-10-27
50.30 M

Raw value 50,300,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

83.20 M

Raw value 83,200,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reported data

94.10 M

Raw value 94,100,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reported data

232.60 MDerived by subtraction

Raw value 232,600,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 460.20 M USD · Source version 2026-02-13
  • Subtract: 2023-01-01 — 2023-09-30 · 227.60 M USD · Source version 2024-10-25
-5.90 M

Raw value -5,900,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

178.10 M

Raw value 178,100,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

176.60 M

Raw value 176,600,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

147.00 MDerived by subtraction

Raw value 147,000,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 495.80 M USD · Source version 2026-02-13
  • Subtract: 2024-01-01 — 2024-09-30 · 348.80 M USD · Source version 2025-10-22
164.50 M

Raw value 164,500,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

324.20 M

Raw value 324,200,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

398.50 M

Raw value 398,500,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

445.60 MDerived by subtraction

Raw value 445,600,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 1.33 B USD · Source version 2026-02-13
  • Subtract: 2025-01-01 — 2025-09-30 · 887.20 M USD · Source version 2025-10-22
390.10 M

Raw value 390,100,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

497.80 M

Raw value 497,800,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reported data

Operating cash flow
-33.70 M

Raw value -33,700,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

-47.90 MDerived by subtraction

Raw value -47,900,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-06-30 · -81.60 M USD · Source version 2020-08-05
  • Subtract: 2019-01-01 — 2019-03-31 · -33.70 M USD · Source version 2020-05-07
23.50 MDerived by subtraction

Raw value 23,500,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-09-30 · -58.10 M USD · Source version 2020-11-05
  • Subtract: 2019-01-01 — 2019-06-30 · -81.60 M USD · Source version 2020-08-05
115.60 MDerived by subtraction

Raw value 115,600,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2019-01-01 — 2019-12-31 · 57.50 M USD · Source version 2022-03-01
  • Subtract: 2019-01-01 — 2019-09-30 · -58.10 M USD · Source version 2020-11-05
-194.70 M

Raw value -194,700,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

73.00 MDerived by subtraction

Raw value 73,000,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-06-30 · -121.70 M USD · Source version 2021-08-02
  • Subtract: 2020-01-01 — 2020-03-31 · -194.70 M USD · Source version 2021-05-03
136.10 MDerived by subtraction

Raw value 136,100,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-09-30 · 14.40 M USD · Source version 2021-11-01
  • Subtract: 2020-01-01 — 2020-06-30 · -121.70 M USD · Source version 2021-08-02
194.50 MDerived by subtraction

Raw value 194,500,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2020-01-01 — 2020-12-31 · 208.90 M USD · Source version 2023-02-27
  • Subtract: 2020-01-01 — 2020-09-30 · 14.40 M USD · Source version 2021-11-01
60.70 M

Raw value 60,700,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

59.30 MDerived by subtraction

Raw value 59,300,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-06-30 · 120.00 M USD · Source version 2022-08-03
  • Subtract: 2021-01-01 — 2021-03-31 · 60.70 M USD · Source version 2022-05-02
54.40 MDerived by subtraction

Raw value 54,400,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-09-30 · 174.40 M USD · Source version 2022-10-31
  • Subtract: 2021-01-01 — 2021-06-30 · 120.00 M USD · Source version 2022-08-03
36.50 MDerived by subtraction

Raw value 36,500,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 210.90 M USD · Source version 2024-02-23
  • Subtract: 2021-01-01 — 2021-09-30 · 174.40 M USD · Source version 2022-10-31
-132.20 M

Raw value -132,200,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

-205.70 MDerived by subtraction

Raw value -205,700,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-06-30 · -337.90 M USD · Source version 2023-08-02
  • Subtract: 2022-01-01 — 2022-03-31 · -132.20 M USD · Source version 2023-04-28
4.40 MDerived by subtraction

Raw value 4,400,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-09-30 · -333.50 M USD · Source version 2023-10-27
  • Subtract: 2022-01-01 — 2022-06-30 · -337.90 M USD · Source version 2023-08-02
180.70 MDerived by subtraction

Raw value 180,700,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · -152.80 M USD · Source version 2025-02-18
  • Subtract: 2022-01-01 — 2022-09-30 · -333.50 M USD · Source version 2023-10-27
42.00 M

Raw value 42,000,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

253.60 MDerived by subtraction

Raw value 253,600,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-06-30 · 295.60 M USD · Source version 2024-07-26
  • Subtract: 2023-01-01 — 2023-03-31 · 42.00 M USD · Source version 2024-04-26
248.70 MDerived by subtraction

Raw value 248,700,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-09-30 · 544.30 M USD · Source version 2024-10-25
  • Subtract: 2023-01-01 — 2023-06-30 · 295.60 M USD · Source version 2024-07-26
356.20 MDerived by subtraction

Raw value 356,200,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 900.50 M USD · Source version 2026-02-13
  • Subtract: 2023-01-01 — 2023-09-30 · 544.30 M USD · Source version 2024-10-25
137.50 M

Raw value 137,500,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

381.50 MDerived by subtraction

Raw value 381,500,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-06-30 · 519.00 M USD · Source version 2025-07-30
  • Subtract: 2024-01-01 — 2024-03-31 · 137.50 M USD · Source version 2025-04-23
375.10 MDerived by subtraction

Raw value 375,100,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2024-01-01 — 2024-09-30 · 894.10 M USD · Source version 2025-10-22
  • Subtract: 2024-01-01 — 2024-06-30 · 519.00 M USD · Source version 2025-07-30
425.20 MDerived by subtraction

Raw value 425,200,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 1.32 B USD · Source version 2026-02-13
  • Subtract: 2024-01-01 — 2024-09-30 · 894.10 M USD · Source version 2025-10-22
303.30 M

Raw value 303,300,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

322.90 MDerived by subtraction

Raw value 322,900,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-06-30 · 626.20 M USD · Source version 2026-07-29
  • Subtract: 2025-01-01 — 2025-03-31 · 303.30 M USD · Source version 2026-04-22
508.70 MDerived by subtraction

Raw value 508,700,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2025-01-01 — 2025-09-30 · 1.13 B USD · Source version 2025-10-22
  • Subtract: 2025-01-01 — 2025-06-30 · 626.20 M USD · Source version 2026-07-29
978.90 MDerived by subtraction

Raw value 978,900,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 2.11 B USD · Source version 2026-02-13
  • Subtract: 2025-01-01 — 2025-09-30 · 1.13 B USD · Source version 2025-10-22
766.80 M

Raw value 766,800,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

1.10 BDerived by subtraction

Raw value 1,099,800,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 1.87 B USD · Source version 2026-07-29
  • Subtract: 2026-01-01 — 2026-03-31 · 766.80 M USD · Source version 2026-04-22
Capital expenditure
10.70 M

Raw value 10,700,000.00 USD

2019-01-01 — 2019-03-31 · USD · Reported data

12.30 MDerived by subtraction

Raw value 12,300,000.00 USD

2019-04-01 — 2019-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-06-30 · 23.00 M USD · Source version 2020-08-05
  • Subtract: 2019-01-01 — 2019-03-31 · 10.70 M USD · Source version 2020-05-07
4.90 MDerived by subtraction

Raw value 4,900,000.00 USD

2019-07-01 — 2019-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2019-01-01 — 2019-09-30 · 27.90 M USD · Source version 2020-11-05
  • Subtract: 2019-01-01 — 2019-06-30 · 23.00 M USD · Source version 2020-08-05
19.70 MDerived by subtraction

Raw value 19,700,000.00 USD

2019-10-01 — 2019-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2019-01-01 — 2019-12-31 · 47.60 M USD · Source version 2022-03-01
  • Subtract: 2019-01-01 — 2019-09-30 · 27.90 M USD · Source version 2020-11-05
6.70 M

Raw value 6,700,000.00 USD

2020-01-01 — 2020-03-31 · USD · Reported data

6.50 MDerived by subtraction

Raw value 6,500,000.00 USD

2020-04-01 — 2020-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-06-30 · 13.20 M USD · Source version 2021-08-02
  • Subtract: 2020-01-01 — 2020-03-31 · 6.70 M USD · Source version 2021-05-03
8.10 MDerived by subtraction

Raw value 8,100,000.00 USD

2020-07-01 — 2020-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2020-01-01 — 2020-09-30 · 21.30 M USD · Source version 2021-11-01
  • Subtract: 2020-01-01 — 2020-06-30 · 13.20 M USD · Source version 2021-08-02
23.10 MDerived by subtraction

Raw value 23,100,000.00 USD

2020-10-01 — 2020-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2020-01-01 — 2020-12-31 · 44.40 M USD · Source version 2023-02-27
  • Subtract: 2020-01-01 — 2020-09-30 · 21.30 M USD · Source version 2021-11-01
16.80 M

Raw value 16,800,000.00 USD

2021-01-01 — 2021-03-31 · USD · Reported data

13.60 MDerived by subtraction

Raw value 13,600,000.00 USD

2021-04-01 — 2021-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-06-30 · 30.40 M USD · Source version 2022-08-03
  • Subtract: 2021-01-01 — 2021-03-31 · 16.80 M USD · Source version 2022-05-02
12.90 MDerived by subtraction

Raw value 12,900,000.00 USD

2021-07-01 — 2021-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2021-01-01 — 2021-09-30 · 43.30 M USD · Source version 2022-10-31
  • Subtract: 2021-01-01 — 2021-06-30 · 30.40 M USD · Source version 2022-08-03
30.10 MDerived by subtraction

Raw value 30,100,000.00 USD

2021-10-01 — 2021-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2021-01-01 — 2021-12-31 · 73.40 M USD · Source version 2024-02-23
  • Subtract: 2021-01-01 — 2021-09-30 · 43.30 M USD · Source version 2022-10-31
15.10 M

Raw value 15,100,000.00 USD

2022-01-01 — 2022-03-31 · USD · Reported data

23.10 MDerived by subtraction

Raw value 23,100,000.00 USD

2022-04-01 — 2022-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-06-30 · 38.20 M USD · Source version 2023-08-02
  • Subtract: 2022-01-01 — 2022-03-31 · 15.10 M USD · Source version 2023-04-28
23.50 MDerived by subtraction

Raw value 23,500,000.00 USD

2022-07-01 — 2022-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2022-01-01 — 2022-09-30 · 61.70 M USD · Source version 2023-10-27
  • Subtract: 2022-01-01 — 2022-06-30 · 38.20 M USD · Source version 2023-08-02
38.30 MDerived by subtraction

Raw value 38,300,000.00 USD

2022-10-01 — 2022-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2022-01-01 — 2022-12-31 · 100.00 M USD · Source version 2025-02-18
  • Subtract: 2022-01-01 — 2022-09-30 · 61.70 M USD · Source version 2023-10-27
27.80 M

Raw value 27,800,000.00 USD

2023-01-01 — 2023-03-31 · USD · Reported data

25.80 MDerived by subtraction

Raw value 25,800,000.00 USD

2023-04-01 — 2023-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-06-30 · 53.60 M USD · Source version 2024-07-26
  • Subtract: 2023-01-01 — 2023-03-31 · 27.80 M USD · Source version 2024-04-26
26.50 MDerived by subtraction

Raw value 26,500,000.00 USD

2023-07-01 — 2023-09-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2023-01-01 — 2023-09-30 · 80.10 M USD · Source version 2024-10-25
  • Subtract: 2023-01-01 — 2023-06-30 · 53.60 M USD · Source version 2024-07-26
47.80 MDerived by subtraction

Raw value 47,800,000.00 USD

2023-10-01 — 2023-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2023-01-01 — 2023-12-31 · 127.90 M USD · Source version 2026-02-13
  • Subtract: 2023-01-01 — 2023-09-30 · 80.10 M USD · Source version 2024-10-25
35.80 M

Raw value 35,800,000.00 USD

2024-01-01 — 2024-03-31 · USD · Reported data

34.10 M

Raw value 34,100,000.00 USD

2024-04-01 — 2024-06-30 · USD · Reported data

36.40 M

Raw value 36,400,000.00 USD

2024-07-01 — 2024-09-30 · USD · Reported data

60.70 MDerived by subtraction

Raw value 60,700,000.00 USD

2024-10-01 — 2024-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2024-01-01 — 2024-12-31 · 167.00 M USD · Source version 2026-02-13
  • Subtract: 2024-01-01 — 2024-09-30 · 106.30 M USD · Source version 2025-10-22
36.50 M

Raw value 36,500,000.00 USD

2025-01-01 — 2025-03-31 · USD · Reported data

45.00 M

Raw value 45,000,000.00 USD

2025-04-01 — 2025-06-30 · USD · Reported data

45.20 M

Raw value 45,200,000.00 USD

2025-07-01 — 2025-09-30 · USD · Reported data

93.30 MDerived by subtraction

Raw value 93,300,000.00 USD

2025-10-01 — 2025-12-31 · USD · Reconstructed from cumulative disclosures

Fourth quarter reconstructed: full year − first nine months

  • Add: 2025-01-01 — 2025-12-31 · 220.00 M USD · Source version 2026-02-13
  • Subtract: 2025-01-01 — 2025-09-30 · 126.70 M USD · Source version 2025-10-22
112.60 M

Raw value 112,600,000.00 USD

2026-01-01 — 2026-03-31 · USD · Reported data

173.30 MDerived by subtraction

Raw value 173,300,000.00 USD

2026-04-01 — 2026-06-30 · USD · Reconstructed from cumulative disclosures

Quarter reconstructed: current cumulative value − previous cumulative value

  • Add: 2026-01-01 — 2026-06-30 · 285.90 M USD · Source version 2026-07-29
  • Subtract: 2026-01-01 — 2026-03-31 · 112.60 M USD · Source version 2026-04-22
Comparison rules and gaps

Comparison columns require aligned period boundaries, currency and duration. Blank values are not zero; directly reported quarters and cumulative reconstructions are distinguished. A non-positive comparison base is shown as an amount change without a percentage growth rate.

View filing source

Events and disclosure records

Completed events, conditional arrangements and the document versions used are listed separately.

Check original source ↗
Disclosed events

King Environmental Services · Capital and financing

Signed acquisition agreement covering fluid management, commissioning and load testing; amount undisclosed, closing expected Q4 2026. [6]

Disclosed events

Utility Innovation Holdings, Inc. (UtilityInnovation Group / UIG) · Capital and financing

Agreement and Plan of Merger to acquire Utility Innovation Holdings, Inc. (UtilityInnovation Group); approximately $1.45 billion upfront cash at closing subject to working capital, indebtedness and transaction expense adjustments, plus up to $1.15 billion of contingent cash in two tranches on EBITDA targets; expected to close in Q4 2026 [2]

Disclosed events

ThermoKey S.p.A. · Capital and financing

Agreement to acquire ThermoKey S.p.A., an Italian heat exchanger manufacturer supplying dry coolers, microchannel heat exchangers, air-cooled condensers and liquid cooling systems; announced 23 Mar 2026; consideration not disclosed; expected to close in Q2 2026 subject to regulatory approvals [3]

Disclosed events

Purge Rite Intermediate, LLC (PurgeRite) · Capital and financing

Acquisition of Purge Rite Intermediate, LLC (PurgeRite), a provider of mechanical flushing, purging and filtration for mission-critical data centers; sale and purchase agreement 31 Oct 2025, closed 4 Dec 2025; total consideration transferred $1,138.3 million net of $14.4 million cash acquired (gross $1,152.7 million: $1,003.5 million cash, $139.2 million contingent consideration, $10.0 million other), plus up to $250.0 million additional cash on post-closing performance metrics [4]

View remaining recorded events (2)
Disclosed events

Great Lakes Data Racks & Cabinets family of companies · Capital and financing

Acquisition of the Great Lakes Data Racks & Cabinets family of companies (standard and custom racks, integrated and seismic cabinets, cable management); sale and purchase agreement 17 Jul 2025, closed 20 Aug 2025; total consideration transferred $203.5 million, including $107.6 million of finite-lived intangibles and $65.2 million of tax-deductible goodwill [5]

Conditional arrangements

Cadence · Supply

Vertiv uses the Cadence Reality Digital Twin Platform to design its power and cooling solutions · Vertiv's CEO is quoted by name in the platform launch release · no contract or value disclosed [1]

Included financial source versions
  1. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-06-30. The same document includes multiple comparison periods.

  2. 10-Q Original financial filings ↗

    This page cites periods ending through 2026-03-31. The same document includes multiple comparison periods.

  3. 10-K Original financial filings ↗

    This page cites periods ending through 2025-12-31. The same document includes multiple comparison periods.

  4. 10-Q Original financial filings ↗

    This page cites periods ending through 2025-09-30. The same document includes multiple comparison periods.

  5. 10-Q Original financial filings ↗

    This page cites periods ending through 2025-06-30. The same document includes multiple comparison periods.

  6. 10-Q Original financial filings ↗

    This page cites periods ending through 2024-03-31.

Showing the latest 6 recorded source versions. Find the remaining 24 in Source values in the full financial table.

Industry relationships and operating mechanisms

Trace supply and demand through contract performance, operating metrics and cash attribution.

Direct relationships: 6 · Excluded by current filters: 3

Upstream supply

1 companies
↗
2024-03-181 record

VRT

Vertiv

Operating metrics: 8 ↗

Capital deployed

5 companies
2026-09-011 record
2026-03-231 record
2025-12-041 record
2025-08-201 record
2026-09-241 record

Downstream demand、Capital sources: no records under the current criteria; this does not establish that a business relationship is absent.

Goods and services are arranged from supplier to customer; capital is shown separately. Select a relationship to inspect its evidence and operating mechanism. Second-degree paths do not establish guarantees or certain revenue.

Upstream supply · Technical cooperation / delivery qualification

CDNS VRT

Framework / intentB · Company / media
Check public source ↗

What this relationship establishes

Vertiv uses the Cadence Reality Digital Twin Platform to design its power and cooling solutions

Relationship type
Technical cooperation / delivery qualification

Technical or qualification relationship; this record alone does not establish a purchase obligation

Amount basis
Amount classification not yet structured

No attributable amount is available for this record. This does not mean the amount is zero.

A period-by-period schedule of payments and revenue recognition has not been established. The recorded amount is not converted into current-period revenue, cash paid or stock-price impact.

Attribution
Applies to this relationship; the original document determines the specific legal entities and attribution.
Concentration
A relationship amount and company denominator with matching periods and definitions are not provided

Relationship counts, capacity and total contract value are not measures of revenue or procurement concentration.

Complete record and source location

Vertiv uses the Cadence Reality Digital Twin Platform to design its power and cooling solutions · Vertiv's CEO is quoted by name in the platform launch release · no contract or value disclosed

B · Company / media

Cadence press release, 18 Mar 2024 (verified via StockTitan full text); NVIDIA press release, 16 Mar 2026 lists both as Omniverse DSX blueprint contributors [B]

Procurement constraints and delivery

The excerpts below come from this record. Verify signed status separately from actual completion.

  • This record does not specify performance milestones, payment arrangements or termination provisions.
Inputs still needed to quantify the impact
  • The relevant business's revenue or purchase amount and the denominator used
  • Order obligations, pricing and cost pass-through provisions
  • Execution progress, collection schedule and substitutability

The amount associated with a relationship cannot substitute for the company's revenue, earnings or stock-price impact. Applies to this relationship; the original document determines the specific legal entities and attribution.

How to test the operating mechanism

Analytical framework, not a realized impact

  1. Supply and demand terms

    CDNS supplies products or services to VRT; a customer list is not an irrevocable order.

  2. Operating process

    Verify purchasing, inventory preparation, delivery and quality acceptance; monitor alternative supply and capital tied up in inventory.

  3. Financial outcomes

    Assess purchasing costs, gross profit and working capital; verify supply volumes and revenue recognition separately.

  4. Testing price implications

    First verify the sustainability of earnings and cash flows, then compare valuations; do not infer share-price upside directly from a partnership announcement.

Compare customer advances, inventory build, delivery acceptance and collections. The ratio of deferred revenue to inventory provides only an indication of funding alignment; it does not establish that a particular project is fully financed.

Operating data to test the relationship

VRT · Company-specific metric definitions and classifications

Metrics test operating processes; an overall change cannot be attributed to a single relationship. Expand the definitions to check calculation methods and their applicable boundaries.

Working capital

How much company capital is tied up between supply, billing and payment?

Separate receivables, inventory and payables. An improvement in the net amount may reflect delayed payments and does not by itself establish better demand.
Operating metricLatest valueDefinition and boundaries
Cash conversion cycle ↗2026Q2 · Research calculation106.44 days
Definition and boundaries

DSO + DIO − DPO

Uses period-end balances. Components are also displayed to avoid judging demand conditions from the total alone.

Days payable outstanding ↗2026Q2 · Research calculation110.35 days
Definition and boundaries

Period-end accounts payable balance ÷ single-quarter flow amount × days in the quarter

Uses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.

Profit and costs

Can revenue growth translate into earnings attributable to shareholders?

Preserve the distinctions relating to depreciation, stock-based compensation, adjustments and segments. The company's margin cannot be applied as this contract's margin.
Operating metricLatest valueDefinition and boundaries
Free cash-flow margin ↗2026Q2 · Research calculation28.3%
Definition and boundaries

(CFO − cash purchases of PP&E) ÷ revenue × 100

The standardized base FCF definition excludes software capital expenditure. The original report's FCF also deducts software expenditure; the two definitions are not mixed.

Cash flow margin after capital expenditure including software ↗2026Q2 · Research calculation28.26%
Definition and boundaries

(CFO − cash purchases of PP&E − software capital expenditure) ÷ revenue × 100

Consistent with the total capital-expenditure definition in the original research working data. The subtraction used to derive cash software purchases for 2020Q3 is negative, so related results remain blank pending review. Negative expenditure is not treated as a cash recovery.

Inventory and delivery

Where is inventory accumulating, and has it converted into deliveries?

Compare procurement, delivery and revenue timing. Inventory days or changes in inventory mix alone cannot establish a particular customer's orders.
Operating metricLatest valueDefinition and boundaries
Days inventory outstanding ↗2026Q2 · Research calculation112.57 days
Definition and boundaries

Period-end inventory balance ÷ single-quarter flow amount × days in the quarter

Uses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.

Show remaining company metrics (3)
Advances and performance

Are customer advances and the associated performance obligations being fulfilled in step?

Reconcile balance changes separately from new collections and releases as obligations are fulfilled. Do not mix lease and cloud-service accounting definitions.
Operating metricLatest valueDefinition and boundaries
Deferred revenue / TTM revenue ↗2026Q2 · Research calculation32.72%
Definition and boundaries

(Current + non-current deferred revenue) ÷ revenue for four consecutive quarters × 100

The relative size of customer advance receipts; this is not orders, RPO or the proportion of revenue to be recognized in the future.

Deferred revenue / inventory ↗2026Q2 · Research calculation1.49 x
Definition and boundaries

(Current + non-current deferred revenue) ÷ period-end inventory

Compares the relative scale of funding and inventory; it does not imply that advance receipts specifically finance that inventory.

Billing and collections

Is revenue following delivery being converted into cash?

Review this alongside revenue and receivable balances. Turnover days are not the payment terms agreed in this contract.
Operating metricLatest valueDefinition and boundaries
Days sales outstanding ↗2026Q2 · Research calculation104.23 days
Definition and boundaries

Period-end accounts receivable balance ÷ single-quarter flow amount × days in the quarter

Uses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.

Related companies in the value chain 17 companies · Data-center infrastructure (power / cooling)

Related browsing is based on overlapping segments in the current graph. It does not establish direct peers, valuation comparability, or a supply, customer or investment relationship.

Search all operating metrics and calculation methods

Operating metric search

Test relationship hypotheses against actual operating series, with their definitions, periods and calculation methods.

Historical research methodology
8 / 8 items
Operating metricLatest valuePeriod / classificationDefinition and interpretation boundariesAnalysis
Deferred revenue / TTM revenue32.72%2026Q2Research calculation(Current + non-current deferred revenue) ÷ revenue for four consecutive quarters × 100The relative size of customer advance receipts; this is not orders, RPO or the proportion of revenue to be recognized in the future.View full series ↗
Cash conversion cycle106.44 days2026Q2Research calculationDSO + DIO − DPOUses period-end balances. Components are also displayed to avoid judging demand conditions from the total alone.View full series ↗
Free cash-flow margin28.3%2026Q2Research calculation(CFO − cash purchases of PP&E) ÷ revenue × 100The standardized base FCF definition excludes software capital expenditure. The original report's FCF also deducts software expenditure; the two definitions are not mixed.View full series ↗
Deferred revenue / inventory1.49 x2026Q2Research calculation(Current + non-current deferred revenue) ÷ period-end inventoryCompares the relative scale of funding and inventory; it does not imply that advance receipts specifically finance that inventory.View full series ↗
Days sales outstanding104.23 days2026Q2Research calculationPeriod-end accounts receivable balance ÷ single-quarter flow amount × days in the quarterUses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.View full series ↗
Days inventory outstanding112.57 days2026Q2Research calculationPeriod-end inventory balance ÷ single-quarter flow amount × days in the quarterUses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.View full series ↗
Days payable outstanding110.35 days2026Q2Research calculationPeriod-end accounts payable balance ÷ single-quarter flow amount × days in the quarterUses period-end balances, consistent with AAOI. It must not be silently mixed with versions based on average balances.View full series ↗
Cash flow margin after capital expenditure including software28.26%2026Q2Research calculation(CFO − cash purchases of PP&E − software capital expenditure) ÷ revenue × 100Consistent with the total capital-expenditure definition in the original research working data. The subtraction used to derive cash software purchases for 2020Q3 is negative, so related results remain blank pending review. Negative expenditure is not treated as a cash recovery.View full series ↗
Source grades, dates and quantitative definitions

A = original SEC or exchange filings; B = company announcements, IR materials, official websites or established media; C = industry-structure inferences or third-party accounts without an independent primary source

Key relationships were reviewed using public information available through 2026-10-23. Historical relationships have not all been individually reverified. Their original dates are retained; delisted entities remain in the relationship archive but are excluded from market-cap weights. Review coverage through 2026-10-23.

Signed status does not mean that the full amount has been paid or that capacity has been delivered. Assess contract value, period revenue, investment, loans, prepayments and guarantee caps separately; do not sum them as a single exposure. Distinguish total power capacity from critical IT load. Company-level metrics cannot be attributed directly to an individual relationship.

Source facts and operating implications are distinguished, with forecasts and conditional scenarios identified as such. Missing relationships mean that this graph has no record of them. Data version 60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644.

EVIDENCE & SOURCES

Data and calculation basis

Sources and filing versions
Quotes and valuation

2026-10-27, 16:00 ET · Regular-session close. History through 2026-10-23 uses provider split-adjusted prices, excluding dividends. Full-history adjustment factors have not been independently recalculated. MA20 is the arithmetic mean of 20 recorded trading-day closes and does not bridge missing prices or known corporate actions. Price comparisons exclude dividend reinvestment and do not represent total returns. Market cap retrieved on 2026-10-28. Prices refresh daily. Source timestamps and website update times are shown separately.

The current security identity and recorded historical continuity have been checked. Listing-date coverage is shown separately.

Original verification notes

verified-listing-start-covered

Vertiv operating-company trading identity begins February 10, 2020. Earlier GSAH SPAC/unit history is excluded.

Nasdaq Quote source page Price-history source page
Financial statements

Reporting period 2026-06-30; filed 2026-07-29. Financials use the company's reporting periods and currency; unavailable values appear as —. Expand the section below each chart to inspect metric definitions, inputs and original sources.

SEC Company filings Raw financial data · JSON

Business evidence

Based on value-chain records; original operating disclosures are still needed.

Citations: 6 · Documents: 5 · Duplicate documents are grouped; individual source locations are retained

1Cadence press release, 18 Mar 2024 (verified via StockTitan full text); NVIDIA press release, 16 Mar 2026 lists both as Omniverse DSX blueprint contributors [B]Value-chain archive

Cadence press release, 18 Mar 2024 (verified via StockTitan full text); NVIDIA press release, 16 Mar 2026 lists both as Omniverse DSX blueprint contributors [B] · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
2Vertiv Holdings Co Form 8-K, Item 1.01, agreement dated 1 Sep 2026, filed 2 Sep 2026Value-chain archive

Vertiv Holdings Co Form 8-K, Item 1.01, agreement dated 1 Sep 2026, filed 2 Sep 2026 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
3Vertiv Holdings Co Form 8-K, Exhibit 99.1 press release, 23 Mar 2026Value-chain archive

Vertiv Holdings Co Form 8-K, Exhibit 99.1 press release, 23 Mar 2026 · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
4Vertiv FY2025 Form 10-K (Form ARS copy filed on sec.gov), Note 2 AcquisitionsValue-chain archive · 2 citations
References 4

Vertiv FY2025 Form 10-K (Form ARS copy filed on sec.gov), Note 2 Acquisitions · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

References 5

Vertiv FY2025 Form 10-K (Form ARS copy filed on sec.gov), Note 2 Acquisitions · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
6Issuer / authority original 2026-09-24 [B]Value-chain archive

Issuer / authority original 2026-09-24 [B] · Document date unverified

Graph source summary; original documents have not been individually rechecked. Event dates and source-publication dates are listed separately.

Open source
Missing evidence
  • Company-specific operating KPIs are not yet available; financial ratios do not substitute for evidence about products, orders or capacity.
Unresolved business questions
Which products, customers and revenue categories can be independently verified from primary materials?
Existing relationship records do not represent the entire business; company-level primary evidence for segments, products, customer concentration and key operations remains incomplete.
Relationships
Company announcements, framework intentions and signed agreements are distinguished. Contract amounts do not represent payments already made. Records without sources are flagged separately.
Version
60aad2cdea0eff4f82e9dafe344d1e57aa2b950269b621d7e5bddfef10520644

ResearchSource document

Sources: 1
01VRT SEC filings index

Lookup entry point; missing documents or first-disclosure dates for individual historical observations remain explicitly unavailable.

View original disclosure