Vertiv Holdings Co (VRT)财务
NYSE · Industrials · Electrical Equipment & Parts · 员工34,000人 · CEO Giordano Albertazzi
- 股价
- $232.50 -5.46%
- 市值
- $895亿
- 企业价值
- $893亿
- 最近财报
- Q3 '26 2026-10-28提交
- 下次财报
- 2027-02-10 EPS预期 $2.27
营收(TTM)$131亿+35.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)20.3%+2.3 百分点 对比去年同期营业利润 $26.6亿
净利润(TTM)$21亿+102.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)$31.2亿+128.3% 对比去年同期资本支出 $5.23亿
稀释EPS(TTM)$5.35+101.9% 对比去年同期最近4个季度之和
净现金$4.44亿+134.8% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $895亿 EV $893亿
- 营收
- $131亿 过去12个月
- 营收增速
- +43% FY2026年一致预期
- 净利润率
- 16.0% 净利润 / 营收,TTM
- P/E
- 42.5× 预期 32.7×(FY2026)
- P/S
- 6.8× 股价 / 营收,TTM
- EV / EBITDA
- 29.5× TTM
- 自由现金流
- $31.2亿 过去12个月
- 净利润
- $21亿 过去12个月
- 营收预期
- $146亿 FY2026年一致预期
- 盈利
- 2027-02-10 营收预期 $44.7亿
- 股息
- $0.23 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收超预期15.0%,EPS 超预期21.4%营收$43.1亿,预期$37.5亿(+15.0%);EPS $2.21,预期$1.82(+21.4%)。
- 营收增长加速:同比61.2%Q3 '26营收$43.1亿,此前四个季度的平均值为26.5%。
- 营业利润率20.3%(TTM),较去年同期+2.3 百分点营收增长35.3%,营业利润增长52.3%。
- 资本支出占营收的4.0%(去年为2.0%)最近4个季度投入$5.23亿(同比+168.3%)。自由现金流$31.2亿,相当于净利润的148.6%。
- 股东回报$9580万 = 自由现金流的3.1%回购$0(去年为-$5.92亿),股息$9580万,股权激励$5770万(TTM)。
- 稀释股数一年内增加0.6%Q3 '26稀释股数3.93亿,一年前为3.9亿。
- 净现金 $4.44亿现金 + 短期投资 $37.1亿,含租赁债务 $32.7亿;一年前净债务 $12.7亿。
- Americas Segment:营收+74.5%,利润率29.4%(此前为29.3%)Q3 '26增长最快的披露分部:营收$29.9亿,营业利润$8.77亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $43.1亿 | $26.8亿 | +61.2% |
| 毛利率 | 38.1% | 37.8% | +0.3 百分点 |
| 营业利润 | $9.84亿 | $5.48亿 | +79.4% |
| 营业利润率 | 22.8% | 20.5% | +2.3 百分点 |
| 净利润 | $7.65亿 | $3.99亿 | +91.8% |
| 稀释EPS | $1.95 | $1.02 | +91.2% |
| 经营现金流 | $7.94亿 | $5.09亿 | +56.1% |
| 资本支出 | $1.39亿 | $4670万 | +197.9% |
| 自由现金流 | $6.55亿 | $4.62亿 | +41.8% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $1970万 | $1420万 | +38.7% |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $43.1亿 | $37.5亿 | +15.0% |
| EPS(一致预期口径) | $2.21 | $1.82 | +21.4% |
来自2026-10-28发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Product | $36.4亿 | +64.2% | 84.3% | $108亿 | +35.7% | |
| Service | $6.76亿 | +46.4% | 15.7% | $23.4亿 | +33.4% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas Segment | $30亿 | +74.0% | 62.1% | $87.9亿 | +51.0% | |
| EMEA Segment | $8.24亿 | +38.4% | 17.1% | $26.7亿 | +10.1% | |
| Asia Pacific Segment | $10.1亿 | +68.7% | 20.9% | $31.5亿 | +37.6% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Americas Segment | $29.9亿 | +74.5% | $8.77亿 | +74.8% | 29.4% | 29.3% | $25.1亿 |
| Asia Pacific Segment | $7.79亿 | +49.9% | $1.32亿 | +93.3% | 17.0% | 13.2% | $3.44亿 |
| EMEA Segment | $5.45亿 | +22.8% | $1.52亿 | +82.4% | 28.0% | 18.8% | $4.41亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $36.4亿
- 资本支出
- -$5.23亿
- 股票回购
- $0
- 股息
- -$9580万
- 收购
- -$12.4亿
- 债务净发行
- $680万
- 股权激励费用
- $5770万
- 自由现金流
- $31.2亿
- 股东回报 / FCF
- 3.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 42.5× | 61.4× 5年中的4年 | 39.7× – 86.1× |
| EV / EBITDA | 29.5× | 25.1× | 13.4× – 37.5× |
| EV / 营收 | 6.8× | 3.7× | 1.5× – 6.2× |
| 股价 / FCF | 28.7× | 41.1× 5年中的4年 | 23.8× – 70.3× |
| 股价 / 净资产 | 16.3× | 10.4× | 3.6× – 17.6× |
| FCF收益率 | 3.5% | 1.2% | -5.1% – 4.2% |
| 投入资本回报率 | 22.5% | 10.5% | 2.0% – 18.4% |
| 净资产收益率 | 45.5% | 18.2% | 5.3% – 33.8% |
分析师
一致目标价 $361.94 (+55.7%)
区间 $300.00 – $500.00 · 评级 Buy
强烈买入0
买入21
持有1
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $146亿 | +42.8% | $7.12 | +108.7% | 32.7× | 13 |
| FY2027 | $194亿 | +32.6% | $9.80 | +37.8% | 23.7× | 16 |
| FY2028 | $235亿 | +21.4% | $12.44 | +26.9% | 18.7× | 10 |
| FY2029 | $262亿 | +11.4% | $14.40 | +15.7% | 16.1× | 4 |
| FY2030 | $293亿 | +11.7% | $16.43 | +14.1% | 14.2× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Vertiv Holdings Co在近期10-Q / 10-K文件中标记的全部270项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $1.39亿 | $4520万 | +207.7% | – | – | – | |
| Accounts Payable, Current | $32.4亿 | $17.2亿 | +88.8% | $17.6亿 | $13.2亿 | +33.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $43.8亿 | $28.1亿 | +55.8% | $31.1亿 | $23.6亿 | +31.6% |
| Accounts Receivable, Allowance for Credit Loss, Current | $2800万 | $2530万 | +10.7% | $2560万 | $2240万 | +14.3% |
| Accrued Income Taxes, Current | $1.46亿 | $2370万 | +515.2% | $4340万 | $8370万 | -48.1% |
| Accrued Liabilities, Current | $12亿 | $6.81亿 | +75.6% | $7.72亿 | $6.13亿 | +26.0% |
| Accrued Liabilities, Fair Value Disclosure | – | – | – | $880万2024-12-31 | $1.95亿 | -95.5% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $5.26亿2025-12-31 | $4.34亿 | +21.3% | $5.26亿 | $4.34亿 | +21.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$8140万 | $1920万 | -524.0% | $1820万 | -$1.49亿 | +112.2% |
| Additional Paid in Capital | $29.7亿 | $28.8亿 | +3.2% | $29亿 | $28.2亿 | +2.6% |
| Adjustments to Additional Paid in Capital, Warrant Issued | – | – | – | $6.44亿2024-12-31 | $2160万 | +2,882.4% |
| Advertising Expense | – | – | – | $1680万 | $1940万 | -13.4% |
| Amortization of Debt Issuance Costs and Discounts | $160万 | $100万 | +60.0% | $590万 | $700万 | -15.7% |
| Amortization of Intangible Assets | $6810万 | $5090万 | +33.8% | $2.12亿 | $1.95亿 | +8.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | – | – | – | $1300万2020-12-31 | – | – |
| Assets | $182亿 | $108亿 | +68.0% | $122亿 | $91.3亿 | +33.7% |
| Assets, Current | $121亿 | $65.5亿 | +85.1% | $68.2亿 | $51亿 | +33.7% |
| Assets, Fair Value Disclosure | $35.3亿 | $14.5亿 | +143.9% | $17.9亿 | $13亿 | +37.8% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $3410万 | $0 | – | – | – | – |
| Business Combination, Contingent Consideration, Liability | $2910万 | – | – | $1.44亿2024-12-31 | – | – |
| Cash and Cash Equivalents, at Carrying Value | $35.1亿 | $14亿 | +151.6% | $17.3亿 | $12.3亿 | +40.8% |
| Cash and Cash Equivalents, Fair Value Disclosure | $35.1亿 | $14亿 | +151.6% | $17.3亿 | $12.3亿 | +40.8% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -$220万2025-09-30 | -$1020万 | +78.4% | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $35.8亿 | $14.4亿 | +148.1% | $17.9亿 | $12.3亿 | +45.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $7.08亿 | -$2.12亿 | +434.1% | $5.58亿 | $4.44亿 | +25.7% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 7亿 | 7亿 | 0.0% | 7亿 | 7亿 | 0.0% |
| Common Stock, Shares, Issued | 3.85亿 | 3.82亿 | +0.7% | 3.83亿 | 3.81亿 | +0.5% |
| Common Stock, Shares, Outstanding | 3.85亿 | 3.82亿 | +0.7% | 3.83亿 | 3.81亿 | +0.5% |
| Common Stock, Value, Issued | $0 | $0 | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $7.48亿 | $3.73亿 | +100.9% | $15亿 | $3.52亿 | +326.7% |
| Contract with Customer, Liability, Current | $41.2亿 | $11.3亿 | +264.0% | $18.1亿 | $10.6亿 | +70.7% |
| Contract with Customer, Liability, Noncurrent | $1.25亿 | $1.06亿 | +17.9% | $1.08亿 | $9130万 | +17.9% |
| Contract with Customer, Liability, Revenue Recognized | $6.19亿 | $1.72亿 | +259.7% | – | – | – |
| Cost of Goods and Services Sold | $26.7亿 | $16.7亿 | +60.3% | $65.1亿 | $50.8亿 | +28.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.6亿 | $6670万 | +140.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.9亿 | $2.36亿 | -19.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $3550万 | $2180万 | +62.8% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $2670万 | $1280万 | +108.6% | $1310万 | $1880万 | -30.3% |
| DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLossCurrent | $1.99亿 | $5.45亿 | -63.5% | $9950万 | $0 | – |
| DebtSecuritiesHeldToMaturityFairValueCurrent | $1.99亿 | $5.45亿 | -63.5% | $9960万 | $0 | – |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1800万 | -$600万 | +400.0% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $130万 | -$4800万 | +102.7% |
| Deferred Income Tax Assets, Net | $1.72亿 | $2.59亿 | -33.5% | $1.8亿 | $3.03亿 | -40.8% |
| Deferred Income Tax Liabilities, Net | $2.49亿 | $2.85亿 | -12.8% | $2.33亿 | $2.4亿 | -3.1% |
| Deferred Income Taxes and Tax Credits | $1610万 | $6910万 | -76.7% | $2260万 | -$5450万 | +141.5% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $380万 | -$40万 | +1,050.0% |
| Deferred Tax Asset, Interest Carryforward | $6750万2025-12-31 | $7010万 | -3.7% | $6750万 | $7010万 | -3.7% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $1.03亿2025-12-31 | $9940万 | +3.6% | $1.03亿 | $9940万 | +3.6% |
| Deferred Tax Assets, Gross | $12.1亿2025-12-31 | $11.5亿 | +4.8% | $12.1亿 | $11.5亿 | +4.8% |
| Deferred Tax Assets, Inventory | $4550万2025-12-31 | $4760万 | -4.4% | $4550万 | $4760万 | -4.4% |
| Deferred Tax Assets, Net | – | – | – | $6300万2024-12-31 | $40万 | +15,650.0% |
| Deferred Tax Assets, Net of Valuation Allowance | $4.53亿2025-12-31 | $4.43亿 | +2.3% | $4.53亿 | $4.43亿 | +2.3% |
| Deferred Tax Assets, Other | $200万2025-12-31 | $540万 | -63.0% | $200万 | $540万 | -63.0% |
| Deferred Tax Assets, Tax Credit Carryforwards, Foreign | $2510万2025-12-31 | $2620万 | -4.2% | $2510万 | $2620万 | -4.2% |
| Deferred Tax Assets, Tax Credit Carryforwards, Research | $02025-12-31 | $30万 | -100.0% | $0 | $30万 | -100.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Other | $2720万2025-12-31 | $2030万 | +34.0% | $2720万 | $2030万 | +34.0% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | $1510万2025-12-31 | $1310万 | +15.3% | $1510万 | $1310万 | +15.3% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $7160万2025-12-31 | $4920万 | +45.5% | $7160万 | $4920万 | +45.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Allowance for Doubtful Accounts | $930万2025-12-31 | $810万 | +14.8% | $930万 | $810万 | +14.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01