Vertiv (NYSE:VRT) Q4 2025 Earnings call February 11, 2026 11:00 AM ET Company ParticipantsAmit Mehrotra - Managing Director and Industrial Sector Head in Equity ResearchAndrew Kaplowitz - Managing Director and U.S. Industrial Sector HeadCraig Chamberlin - CFODavid M. Cote - Executive ChairmanGiordano Albertazzi - CEOLynne Maxeiner - VP of Investor RelationsConference Call ParticipantsAmit Daryanani - Senior Managing Director and Equity Research AnalystAndrew Obin - Managing Director and Senior Multi‑Industr ...

Vertiv (NYSE:VRT) Q4 2025 Earnings call February 11, 2026 11:00 AM ET Speaker15Good morning. My name is Nadia, and I'll be your conference operator today. At this time, I would like to welcome everyone to Vertiv's fourth quarter and full year 2025 earnings conference call. All lines have been placed on mute to prevent any background noise. Please note that this call is being recorded. I would now like to turn the program over to your host for today's conference call, Lynne Maxeiner, Vice President of Invest ...

Core Viewpoint - Vertiv (VRT) and Super Micro Computer (SMCI) are key players in the AI infrastructure market, which is expected to exceed $200 billion in spending by 2028, presenting significant investment opportunities for both companies [1]. Company Performance - Vertiv shares have declined 24.2% year-to-date (YTD), while Super Micro Computer shares have increased by 21.7%. Since the 90-day tariff pause on April 9, VRT shares have appreciated 18.3%, compared to SMCI's 1.1% [2]. Vertiv (VRT) Analysis - Vertiv's extensive product portfolio includes thermal systems, liquid cooling, UPS, switchgear, busbar, and modular solutions. Organic orders grew approximately 20% in the trailing 12 months, with a book-to-bill ratio of 1.4 for Q1 2025, indicating strong prospects. The backlog increased by 10% sequentially and 25% year-over-year to $7.9 billion [5]. - In March, Vertiv launched four new systems, enhancing capabilities in infrastructure management, modular deployment, advanced thermal management, and DC power distribution [6]. - Strong capital expenditure plans by hyperscalers for data center expansion are favorable for Vertiv. The company expects net sales for 2025 to be between $9.325 billion and $9.575 billion, up from the previous guidance of $9.13 billion to $9.28 billion. The Zacks Consensus Estimate for VRT's 2025 revenues is $9.23 billion, reflecting a year-over-year growth of 15.14% [7]. Super Micro Computer (SMCI) Analysis - Super Micro Computer is experiencing growth due to the increasing deployment of AI and HPC workloads, with rising demand for its high-performance and energy-efficient servers as data centers expand [9]. - The company leads the Direct Liquid Cooling (DLC) market, having shipped over 3,000 DLC racks in 2024, which is approximately 70% of the global DLC market. SMCI is rapidly expanding its production facilities across Malaysia, Taiwan, Europe, and the United States [10]. - Super Micro Computer has a growing partner base, including Intel and AMD, and utilizes Intel Gaudi 3 accelerators for scalable AI tasks. Its H14 Series servers leverage AMD's EPYC 9005 CPUs and GPU-Accelerated Systems utilize AMD's Instinct MI325X GPUs [11]. Earnings Estimates - The Zacks Consensus Estimate for Vertiv's 2025 earnings is $3.55 per share, down by 1.11% over the past 30 days, indicating a 24.56% increase over 2024's reported figure [12]. - For Super Micro Computer, the consensus estimate for fiscal 2025 earnings has declined by 1.2% to $2.52 per share over the past 30 days, suggesting a 14.03% growth over fiscal 2024 [13]. Earnings Quality - Vertiv has consistently beaten the Zacks Consensus Estimate in the trailing four quarters, with an average surprise of 10.42%. In contrast, Super Micro Computer has beaten estimates twice and missed once, with a negative surprise of 1.82% [14]. Valuation Comparison - Both companies are considered overvalued, with a Value Score of D. Vertiv shares are trading at a forward 12-month Price/Earnings ratio of 22.57X, while Super Micro Computer's ratio is 11.84X, indicating that SMCI is cheaper than VRT [14][15]. Conclusion - Super Micro Computer benefits from strong momentum from data center and cloud computing clients and is less exposed to tariff concerns compared to Vertiv. Currently, SMCI holds a Zacks Rank 1 (Strong Buy), making it a stronger investment choice compared to Vertiv, which has a Zacks Rank 3 (Hold) [18].