VRT: Quick Downloads From the '26 Investor Day

Research evidence excerpt

VRT: Quick Downloads From the '26 Investor Day

Electrical Equipment & Multi-Industry

FLASH

FLASH: VERTIV HOLDINGS CO. (VRT) May 19, 2026

VRT: Quick Downloads From the '26 Investor Day Rating:

Peer PerformThe first chapter of the Vertiv 2026 Investor Day has just wrapped up - this is Price:

the portion that has refreshed the market outlook, strategic growth drivers and the $339.73

financial framework that now extends thro' 2030 (vs. prior 2029). Price Target:

NA

Our key takeaways are as follows:

Source: FactSet, Wolfe Research

1) The company has laid out ~140GW of data center capacity adds over 2026/2030, Priced as of 05/18/26

which compares to our preview (LINK) that was based on 100GW of cumulative

power. Investor feedback suggested our framework trended towards the low-end of

industry expectations, with estimates as high as ~200GW. As such, this framework

will likely be viewed as overall balanced.

2) Vertiv's TAM has expanded by 20% (from $62bn to $75bn) via a number Nigel Coe, CPA; CFA

of product extensions such as Fluid Management, DC Power and Converged ncoe@wolferesearch.com

(646) 582-9259

Infrastructure. VRT sees opportunities to gain share via end-to-end capabilities and View Nigel’s Research

a shift in the market towards modular and converged solutions (e.g. SmartRun, View VRT Model

OneCore). Content per MW now stands at $3.5m/MW (+$250k). View Comp Table

3) The 5Y revenue CAGR is posited at 20-22% to ~$26bn in 2030e. This is on par William Vranka wvranka@wolferesearch.com

with our preview (see above) although the framework embeds a lower share of the (646) 582-9258

addressable market (high-teens) vs. our market model (low-20%). Note that investors Brad Hewitt

had expected guidance for a high-teens sales CAGR, so this is slightly better.