Vertiv Holdings Co FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$10.2B
Gross margin	36.3%
Operating income	$1.8B
Net income	$1.3B
Diluted EPS	$3.41
Cash & equivalents	$1.7B
Total assets	$12.2B
Long-term debt	$2.9B

Key takeaway

Vertiv reported $10.23 billion in revenue and $1.33 billion in net income for fiscal 2025, supported by strong global demand for data center and critical infrastructure products.

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Beneath the surface

Cash and equivalents of $1.73 billion versus long-term debt of $2.91 billion suggest a net debt position of roughly $1.2 billion, less leveraged than the headline debt figure alone implies.

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