Vertiv / VRT
Priority watch only. Q2 2026 strengthens the data-center power/cooling case, but valuation and cycle risk keep VRT below the 100+ stock-sleeve gate.
Case
Critical power, thermal management, monitoring, services and integrated data-center infrastructure. AI/high-density deployments increase power distribution, backup power, liquid cooling and modular-buildout needs.
Watch onlyRisici
Premium valuation, project timing, backlog/customer opacity, supply-chain execution, EMEA weakness and an AI infrastructure cycle can all impair future returns.
Latest research
Q2 sales were USD 3.274bn, up 24.1% year over year and 17.8% organically. GAAP operating margin reached 19.5%, adjusted FCF was USD 925mn, Vertiv ended in net cash, and full-year guidance rose. The evidence lifts the working score from 94 to 98, still below eligibility.
Working score 98 / 125Strategy impact
No new capital. A full valuation, order/backlog, customer-concentration and cycle review must produce 100+ and a clearly better case than GOOGL or TSM before any third stock is considered.