Risk Sleuth
VRT · 10-K filed 13 Feb 2026 · year to 31 Dec 2025

Vertiv Holdings

35 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

U.S. federal government

earns fromnamed as a risk
We derive a portion of our revenue from contracts with governmental customers, including but not limited to the U.S. federal government, and various state and local governments.Risk factors (Item 1A)

Also named by ACN, ADSK, AKAM, AMRC, APG, CACI, CBRE, CI and 25 more

Data center market

concentrated innamed as a risk
A substantial portion of our business depends on the continued growth of our current and potential customers’ data centers and communication infrastructure demand.Risk factors (Item 1A)

Also named by ECG, GNRC, MOD, TXN

Cloud/hyperscale, neocloud and colocation data center providers

earns fromnamed as a risk
Large customers, such as larger communication network, cloud/hyperscale, neocloud, and colocation data center providers, comprise a material portion of our customer base and generally have greater purchasing power than smaller customers.Risk factors (Item 1A)

Suppliers

Single-source suppliers

depends onnamed as a risk
We obtain certain materials or components from single-source suppliers due to technology, availability, price, quality or other considerations.Risk factors (Item 1A)

Also named by ACHR, AMAT, BAX, BSX, BWXT, CL, DOV, EL and 11 more

Partners and platforms

Independent sales representatives, distributors and OEMs

depends onnamed as a risk
We rely, in part, on independent sales representatives, distributors, resellers, and original equipment manufacturers for the distribution of our products and services, some of whom operate on an exclusive basis.Risk factors (Item 1A)

Other companies

Order backlog

$15.0 billionnamed as a risk
As of December 31, 2025 and 2024, Vertiv’s estimated combined order backlog was approximately $15.0 billion and $7.2 billion, respectively.Risk factors (Item 1A)

Competitors

Eaton Corporation plc

competes withnamed as a risk
These competitors may have comparatively greater financial, technical and marketing resources available to them and would include Schneider Electric, S.E., Eaton Corporation Plc, Legrand SA, and Huawei Investment & Holding Co., Ltd, each of which has a large, global presence and compete directly in the markets in which we operate.Risk factors (Item 1A)

Also named by CMI, PCAR

Schneider Electric S.E.

competes withnamed as a risk
These competitors may have comparatively greater financial, technical and marketing resources available to them and would include Schneider Electric, S.E., Eaton Corporation Plc, Legrand SA, and Huawei Investment & Holding Co., Ltd, each of which has a large, global presence and compete directly in the markets in which we operate.Risk factors (Item 1A)

Legrand SA

competes withnamed as a risk
These competitors may have comparatively greater financial, technical and marketing resources available to them and would include Schneider Electric, S.E., Eaton Corporation Plc, Legrand SA, and Huawei Investment & Holding Co., Ltd, each of which has a large, global presence and compete directly in the markets in which we operate.Risk factors (Item 1A)

Huawei Investment & Holding Co., Ltd.

competes withnamed as a risk
These competitors may have comparatively greater financial, technical and marketing resources available to them and would include Schneider Electric, S.E., Eaton Corporation Plc, Legrand SA, and Huawei Investment & Holding Co., Ltd, each of which has a large, global presence and compete directly in the markets in which we operate.Risk factors (Item 1A)

Delta Electronics, Inc.

competes withnamed as a risk
Offering-specific competitors with products and services that compete globally but with a limited set of product offerings, which would include Delta Electronics, Inc., Stulz GmbH, Johnson Controls International PLC, and Socomec Holding SA.Risk factors (Item 1A)

Stulz GmbH

competes withnamed as a risk
Offering-specific competitors with products and services that compete globally but with a limited set of product offerings, which would include Delta Electronics, Inc., Stulz GmbH, Johnson Controls International PLC, and Socomec Holding SA.Risk factors (Item 1A)

Johnson Controls International plc

competes withnamed as a risk
Offering-specific competitors with products and services that compete globally but with a limited set of product offerings, which would include Delta Electronics, Inc., Stulz GmbH, Johnson Controls International PLC, and Socomec Holding SA.Risk factors (Item 1A)

Socomec Holding SA

competes withnamed as a risk
Offering-specific competitors with products and services that compete globally but with a limited set of product offerings, which would include Delta Electronics, Inc., Stulz GmbH, Johnson Controls International PLC, and Socomec Holding SA.Risk factors (Item 1A)

Places

Asia Pacific

earns from · 20%
For the year ended December 31, 2025, Vertiv’s net sales was $10,229.9, of which 62% was transacted in the Americas; 20% was transacted in Asia Pacific; and 18% was transacted in Europe, Middle East & Africa.Business (Item 1)

Also named by AIG, AVY, BLK, BNY, CCK, CL, COHR, DCI and 17 more

Americas

earns from · 62%
For the year ended December 31, 2025, Vertiv’s net sales was $10,229.9, of which 62% was transacted in the Americas; 20% was transacted in Asia Pacific; and 18% was transacted in Europe, Middle East & Africa.Business (Item 1)

Also named by BLK, CYRX, DELL, EMR, FDS, FICO, GGG, GS and 6 more

Europe, Middle East & Africa

earns from · 18%
For the year ended December 31, 2025, Vertiv’s net sales was $10,229.9, of which 62% was transacted in the Americas; 20% was transacted in Asia Pacific; and 18% was transacted in Europe, Middle East & Africa.Business (Item 1)

China

subject tonamed as a risk
For example, the current U.S. administration has instituted substantial changes to U.S. foreign trade policy with respect to China and other countries, including a significant increase in tariffs on goods imported into the U.S. and the possibility of imposing further restrictions on international trade.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

Hazards

Russia-Ukraine war

named as a risk
War and conflict, such as the conflict in the Middle East, the ongoing Russian-Ukraine war, and any associated diplomatic measures or resulting sanctions by the U.S., European Union, and other countries may have a broad range of adverse impacts on global business and financial markets, some of which may have adverse impacts on our business.Risk factors (Item 1A)

Also named by ADSK, ATR, AVAV, CSCO, CTVA, EMR, FIS, FLO and 21 more

Middle East conflict

named as a risk
War and conflict, such as the conflict in the Middle East, the ongoing Russian-Ukraine war, and any associated diplomatic measures or resulting sanctions by the U.S., European Union, and other countries may have a broad range of adverse impacts on global business and financial markets, some of which may have adverse impacts on our business.Risk factors (Item 1A)

Also named by AIOT, BBW, DG, RPM, VFC, ZS

Commodities and inputs

Steel

exposed to its pricenamed as a risk
Our products rely on a variety of raw materials and components, including steel, copper, aluminum and various electronic components.Risk factors (Item 1A)

Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more

Copper

exposed to its pricenamed as a risk
To partially mitigate this exposure, we enter into economic hedges for copper and aluminum.Market risk (Item 7A)

Also named by AAON, AGX, AMKR, APG, APH, APLD, BMI, BWA and 58 more

Aluminum

exposed to its pricenamed as a risk
To partially mitigate this exposure, we enter into economic hedges for copper and aluminum.Market risk (Item 7A)

Also named by AAON, ACHR, ALSN, AYI, BA, BALL, BF/B, BWA and 59 more

Euro

exposed to its pricenamed as a risk
For example, if the U.S. dollar strengthens against other currencies such as the euro, our revenues reported in U.S. dollars would decline.Risk factors (Item 1A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Chinese Yuan

exposed to its pricenamed as a risk
We hedge portions of the net investment in foreign subsidiaries against fluctuations in the Chinese Yuan through derivative instruments.Market risk (Item 7A)

Also named by ABT, ASO, BEN, CHRW, CROX, CYRX, DORM, ESI and 13 more

Electronic components

depends onnamed as a risk
We are subject to commodity risk from fluctuating prices of certain raw materials, steel, copper and aluminum and electronic components.Market risk (Item 7A)

Also named by GGG, HUBB, JOUT, LECO, MSA, NVT, ROK, SNA and 4 more

Rare earth elements

depends onnamed as a risk
Changes in import and export control or trade sanctions laws, the imposition of tariffs on certain U.S. trading partners, the potential for or imposition of retaliatory tariffs, or the potential for or imposition of additional tariffs or other trade restrictions, including potential control from China on rare earth elements, may increase our costs, and may restrict our business practices, including cessation of business activities in sanctioned countries or with sanctioned entities, and may result in claims for breach of existing contracts and modifications to existing compliance programs and training schedules.Risk factors (Item 1A)

Also named by BBY, GM, ISRG, KLAC, LRCX, MCHP, MU, RTX

Laws and programs

Term Loan Facility

exposed to its price · $2,076.1named as a risk
At December 31, 2025, there were no borrowings outstanding under the ABL Revolving Credit Facility and there was an outstanding principal amount of $2,076.1 on the Term Loan, due 2032 with a borrowing rate of 5.61%.Market risk (Item 7A)

Also named by GEHC, QXO

U.S. tariffs

subject tonamed as a risk
Tariffs implemented on our products (or on materials, parts or components we use to manufacture our products or to provide service for our products) have in the past increased the cost of our products manufactured in the U.S. and imported into the U.S.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

OECD Pillar Two global minimum tax

subject tonamed as a risk
Additionally, final laws enacting the Organization for Economic Co-operation and Development's global minimum tax framework ("Pillar Two Laws") became effective beginning in 2024 resulting in uncertainty related to its potential implementation in certain countries where we operate, which we continue to monitor.Risk factors (Item 1A)

Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more

U.S. Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk
We are subject to various anti-corruption laws, including the U.S. Foreign Corrupt Practices Act ("FCPA"), which prohibit payments or offers of payments to foreign governments and their officials for the purpose of obtaining or retaining business.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

EU Restriction of Hazardous Substances (RoHS) Directive

subject tonamed as a risk
For example, the European Union Restriction on the Use of Certain Hazardous Substances in Electrical and Electronic Equipment Directive and similar laws and regulations of China and other jurisdictions limit the content of certain hazardous materials such as lead, mercury, and cadmium in the manufacture of electrical equipment, including our products.Risk factors (Item 1A)

Also named by AMKR, MRVL

EU Waste Electrical and Electronic Equipment (WEEE) Directive

subject tonamed as a risk
Additionally, the EU, China and other jurisdictions have adopted or proposed versions of the Waste Electrical and Electronic Equipment Directive, which requires producers of electrical and electronic equipment to assume responsibility for collecting, treating, recycling and disposing of products when they have reached the end of their useful life, as well as Registration, Evaluation, Authorization and Restriction of Chemical Substances regulations, which regulate the handling and use of certain chemical substances that may be used in our products.Risk factors (Item 1A)

Also named by IOT

Data center siting moratoria and zoning

subject tonamed as a risk
Our customers’ markets could suffer disruption due to a number of factors, including government policy changes, local zoning decisions, community opposition or temporary or permanent local moratoria that limit or restrict the siting, construction or expansion of data centers and other critical digital infrastructure, industry consolidations or the shifting of market size and purchasing power among customers.Risk factors (Item 1A)

EU REACH Regulation

subject to
We also have a program for complying with the European Union Restriction on the Use of Certain Hazardous Substances and Waste Electrical and Electronic Equipment Directives, the China Restriction of Hazardous Substances law, the European Union Registration, Evaluation, Authorization and Restriction of Chemicals regulation, and similar requirements.Business (Item 1)

Also named by ECL, GEV, IDXX