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Priced above base case
What is Vertiv Holdings Co (VRT) worth?
Currently $304.50 — above the base case ($205.00) · ● live
High-growth
low confidence in the point estimate
— for this profile, read the range & what the price implies, not the single number
● live · as of 2026-07-21 21:13 · Market cap $115.8B
As of 2026-07-15, Vertiv Holdings Co (VRT) looks overvalued. Dolphy estimates a fair value of $205.00 versus a current price of $304.50 — a 49% premium to fair value.
Executive summary
Vertiv (VRT) is the leading pure-play in critical digital infrastructure — power and thermal management for data centers — and the most direct listed beneficiary of AI/high-performance-compute capex. Fundamentals are outstanding: Q1'26 revenue +30.1% to $2.65B, FY2025 revenue $10.23B, operating margin ~18%, TTM FCF ~$2.3B, net debt just ~0.7x EBITDA. The problem is price, not quality. At $301.59 the stock trades at ~34x forward EPS, ~49x trailing EV/EBITDA and ~7.3x forward EV/revenue, and a reverse-DCF says the price bakes in ~39% annual FCF growth for five years. My scenario-weighted fair value is ~$205, implying the stock sits ~30%+ above intrinsic value. The bull case ($275) is real if AI capex compounds at 25%+ with no digestion; the bear ($130) is equally real if orders lump or slow given a beta of ~2.0. I'd own the business at a better price, not here.
How we value it
Probability-weighted scenarios: DCF + forward comps, cross-checked with reverse-DCF/implied-multiple
Every figure is computed from SEC filings by the analyst’s calculator tools and fact-checked by a second, independent model.
Investment thesis
About Vertiv Holdings Co
Vertiv Holdings Co designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers AC and DC power management products, low/medium voltage switchgear, busbar, thermal management products, air cooled and liquid cooled thermal management products, integrated modular solutions, racks, single phase UPS, rack power distribution, rack thermal systems, configurable integrated solutions, energy storage solutions, hardware, and software infrastructure that are integral to the technologies used for various services, including artificial intelligence, e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming. It also provides lifecycle management services, predictive analytics, and professional services for deploying, maintaining, and optimizing its products and their related systems; and preventative maintenance, acceptance testing, engineering and consulting, fluid management, performance assessments, remote monitoring, training, spare parts, and critical digital infrastructure software services. The company offers its products primarily under the Vertiv, Liebert, NetSure, Geist, Energy Labs, ERS, Albér, and Avocent brands. It serves through a network of direct sales professionals, independent sales representatives, channel partners, and original equipment manufacturers. The company is headquartered in Westerville, Ohio.
Frequently asked questions
Is VRT a buy?
As of 2026-07-15, Vertiv Holdings Co (VRT) looks overvalued. Dolphy estimates a fair value of $205.00 versus a current price of $304.50 — a 49% premium to fair value.
What is VRT's fair value?
Dolphy's estimated fair value for Vertiv Holdings Co (VRT) is $205.00, versus a current market price of $304.50.
Is VRT overvalued or undervalued?
Vertiv Holdings Co (VRT) currently looks overvalued — trading at a 49% premium to Dolphy's estimated fair value of $205.00.
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AI-generated research by Dolphy for educational and informational purposes only — not investment advice. Figures are computed from public sources and may contain errors.