Vertiv Holdings, LLC

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, незначительно упал. Рынок не поддерживает быков.

Medium index, slightly down. The market does not support the bulls.

Средний индекс, без изменений. Отток средств из лонгов на высоком уровне.

Medium index, flat. Outflow of funds from longs at a high level.

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in NVIDIA Corp (Symbol: NVDA), where a total of 1.7 million contracts have traded so far, representing approximately 171.1 million underlying shares. That amounts to about 161.8% of NVDA's average daily trading volume over the past month of 105.8 million shares. Particularly high volume was seen for the $215 strike call option expiring October 23, 2026, with 229,507 contracts trading so far today, representing approximately 23.0 million underlying shares of NVDA. Below is a chart showing NVDA's trailing twelve month trading history, with the $215 strike highlighted in orange:
Microsoft Corporation (Symbol: MSFT) saw options trading volume of 262,544 contracts, representing approximately 26.3 million underlying shares or approximately 122.6% of MSFT's average daily trading volume over the past month, of 21.4 million shares. Especially high volume was seen for the $525 strike call option expiring October 23, 2026, with 33,376 contracts trading so far today, representing approximately 3.3 million underlying shares of MSFT. Below is a chart showing MSFT's trailing twelve month trading history, with the $525 strike highlighted in orange:
And Vertiv Holdings Co (Symbol: VRT) options are showing a volume of 53,970 contracts thus far today. That number of contracts represents approximately 5.4 million underlying shares, working out to a sizeable 100.3% of VRT's average daily trading volume over the past month, of 5.4 million shares. Especially high volume was seen for the $185 strike put option expiring November 20, 2026, with 10,851 contracts trading so far today, representing approximately 1.1 million underlying shares of VRT. Below is a chart showing VRT's trailing twelve month trading history, with the $185 strike highlighted in orange:
For the various different available expirations for NVDA options, MSFT options, or VRT options, visit StockOptionsChannel.com.
Further NVDA Research:

Notable Friday Option Activity: NVDA, MSFT, VRT

Fintel reports that on October 5, 2026, BMO Capital initiated coverage of Vertiv Holdings (NYSE:VRT) (XTRA:49V) with a Outperform recommendation.
Prior to this rating action, Vertiv Holdings closed at $252.18 on October 2, 2026. The stock's one-week price change was -0.43% relative to its baseline close of $253.28 on September 25, 2026. Over a one-month period, the stock experienced a price change of -1.76% from its baseline close of $256.70 on September 2, 2026.
As of October 2, 2026, the current consensus target mean for Vertiv Holdings was $337.50, and the median target was $345.27, representing an implied change of +33.83% from the pre-action close. This consensus target mean represents a -0.04% revision from the prior consensus target mean of $337.64 recorded on September 14, 2026.
In terms of broader analyst sentiment, the current recommendation period starting September 1, 2026, shows a total of 36 recommendations, consisting of 10 strong buy, 22 buy, 4 hold, 0 sell, and 0 strong sell ratings. This results in a positive recommendation percentage of 88.9%, a hold percentage of 11.1%, and a negative percentage of 0.0%. In the prior period starting August 1, 2026, there were also 36 total recommendations, which included 10 strong buy, 21 buy, 5 hold, 0 sell, and 0 strong sell ratings, representing 86.1% positive, 13.9% hold, and 0.0% negative recommendations.
Prior to BMO Capital's initiation, Wells Fargo also initiated coverage on Vertiv Holdings with an Overweight rating on September 25, 2026.
Vertiv Holdings last reported earnings on July 29, 2026. The company reported an actual EPS of 1.52, compared to the estimate of 1.438, representing a positive surprise of +5.70%. Actual revenue for the quarter was $3,274,300,000.00, which was below the estimated revenue of $3,411,010,935.00. The company's upcoming earnings date is scheduled for October 28, 2026.
According to a Form 8-K filed with the SEC on September 2, 2026, Vertiv Corporation, an indirect wholly-owned subsidiary of Vertiv Holdings Co, entered into an agreement and plan of merger dated September 1, 2026, with Vultra Merger Sub, Inc. and Utility Innovation Holdings, Inc. Under the terms of the agreement, Merger Sub will merge with and into Utility Innovation Holdings, Inc., which will become a wholly-owned subsidiary of Vertiv Corporation. Another Form 8-K filed on September 2, 2026, lists the company's principal executive offices at 505 N. Cleveland Ave, Westerville, Ohio 43082, and its telephone number as 614-888-0246.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.

BMO Capital Initiates Coverage of Vertiv Holdings with Outperform Rating

In the latest look at the underlying components of the S&P 500 ordered by largest market capitalization, Stryker Corp (Symbol: SYK) has taken over the #115 spot from Vertiv Holdings Co (Symbol: VRT), according to The Online Investor.
Market capitalization is an important data point for investors to keep an eye on, for various reasons. The most basic reason is that it gives a true comparison of the value attributed by the stock market to a given company's stock. Many beginning investors look at one stock trading at $10 and another trading at $20 and mistakenly think the latter company is worth twice as much — that of course is a completely meaningless comparison without knowing how many shares of each company exist. But comparing market capitalization (factoring in those share counts) creates a true "apples-to-apples" comparison of the value of two stocks. In the case of Stryker Corp (Symbol: SYK), the market cap is now $105.63 billion, versus Vertiv Holdings Co (Symbol: VRT) at $92.90 billion.
Below is a chart of Stryker Corp versus Vertiv Holdings Co plotting their respective size rank within the S&P 500 over time (SYK plotted in blue; VRT plotted in green):
Below is a three month price history chart comparing the stock performance of SYK vs. VRT:
Another reason market capitalization is important is where it places a company in terms of its size tier in relation to peers — much like the way a mid-size sedan is typically compared to other mid-size sedans (and not SUV's). This can have a direct impact on which mutual funds and ETFs are willing to own the stock. For instance, a mutual fund that is focused solely on Large Cap stocks may for example only be interested in those companies sized $10 billion or larger. Another illustrative example is the S&P MidCap index which essentially takes the S&P 500 index and "tosses out" the biggest 100 companies so as to focus solely on the 400 smaller "up-and-comers" (which in the right environment can outperform their larger rivals). So a company's market cap, especially in relation to other companies, carries great importance, and for this reason we at The Online Investor find value to putting together these rankings daily.
Examine the full SYK market cap history vs. the full VRT market cap history.
At the closing bell, SYK is down about 0.9%, while VRT is up about 2.1% on the day Thursday.
Further SYK Research:

Stryker Now #115 Largest Company, Surpassing Vertiv Holdings

Key Points
Vertiv Holdings provides the power management and cooling systems that keep AI data centers from overheating.
The company just signed deals for two key acquisitions.
It also raised its guidance for 2026 and is reasonably valued.
Artificial intelligence (AI) has been the single biggest driver of this nearly four-year bull market, and as its use expands, more investment opportunities emerge.
The impact is multitiered -- from the chips that process AI tasks to the data centers that house clusters of them and meet the demand for AI computing power; from the infrastructure and networks needed to power data centers and move the information from machine to machine, to the memory hardware that keeps all the data accessible to the servers that require it.
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
One critical group of companies within the AI universe are the specialists that manufacture and service the equipment that routes the massive electrical supplies required by AI data centers and provides the liquid cooling systems that dissipate the intense heat those powerful processors generate.
The leader in this area is Vertiv Holdings (NYSE: VRT). Vertiv addresses a major potential problem for all data centers and networks that compute AI data. Because so much electricity is required to run high-end data systems, the GPUs and CPUs generate large amounts of heat, as does the supporting power equipment. That heat can slow their processing speeds and shorten the chips' useful lives, if it's not removed efficiently.
For that reason, Vertiv's cooling systems have been in high demand, and its stock price is soaring, up 55% year to date. With that impressive performance behind it, is it still a buy?
Two new acquisitions
Vertiv signed deals for two major acquisitions this month. It agreed to buy UtilityInnovation Group, which makes microgrids that help data centers get more of the power they need. Those microgrids also benefit utilities by taking some of the strain off of regional power grids. The acquisition is expected to be accretive to Vertiv's adjusted earnings in the first quarter after closing.
Last week, Vertiv announced it was acquiring Ireland-based King Environmental, which provides liquid-cooling services and testing for data centers across Europe, the Middle East, and Africa. This will help Vertiv expand its global presence and leadership in the industry.
These expansion moves come after a strong second quarter for Vertiv. In the period, it increased net sales by 24% year over year to $3.3 billion, grew earnings by 53% to $1.27, and increased adjusted EPS by 60% to $1.51. It also boosted its operating cash flow by 241% to $1.1 billion and its free cash flow by 234% to $925 million. The company is making the $1.45 billion UtilityInnovation acquisition with cash, and it had $5.6 billion in liquidity at the end of Q2, so it will remain in a strong cash position after that deal closes.
A strong buy
Vertiv also projects free cash flow in the range of $2.4 billion to $2.6 billion for 2026, up 32% at the midpoint. When it delivered its Q2 numbers, it also raised its guidance for net sales and earnings for the year. In now expects 37% revenue growth and 60% adjusted earnings growth, driven by a strong project backlog.
It's also worth noting that at Vertiv's investor day in May, management targeted 20% to 22% compound annual revenue growth through 2030.
While there has been meaningful public pushback against data center development across the country, demand for them remains high and the funding continues to materialize, which puts Vertiv in a great spot.
Its shares have dropped in recent months, but now the stock is reasonably valued, with a forward P/E ratio of 27 and a five-year PEG below 1, suggesting that it's a long-term value. As such, Vertiv looks like a strong buy right now.
Should you buy stock in Vertiv right now?
Before you buy stock in Vertiv, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Vertiv wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $373,352!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,406,241!*
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Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vertiv. The Motley Fool has a disclosure policy.

This Growth Stock Is Quietly Solving the AI Supercycle's Cooling Problem. Here's Why It Could Soar.

Key Points
Morgan Stanley projects capex at the five largest U.S. tech companies to reach $1.4 trillion in 2028.
Iren has the assets to become a leading AI cloud provider, with analysts projecting a massive jump in profitability in three years.
Vertiv sees revenue growing at least 20% annually through 2030, with analysts expecting 38% annualized earnings growth.
Some of the largest tech companies are investing heavily in building data centers to meet the insatiable demand for artificial intelligence (AI) services. Morgan Stanley expects capital spending by the top hyperscalers to reach $1.4 trillion by 2028.
Investors can still find attractively valued stocks that could soar over the next several years. Two data center stocks that appear reasonably priced relative to their growth potential are Iren (NASDAQ: IREN) and Vertiv (NYSE: VRT).
Missed AI’s "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we’re only at the end of "Act 1"—the R&D phase. "Act 2" is the global rollout. Continue »
1. Iren: A vertically integrated AI cloud
Shares of Iren have surged more than 1,000% over the past three years, and it's not hard to see the stock continuing to push to new highs. Iren is building an artificial intelligence (AI) cloud platform from the ground up: It owns the land, controls the power, and uses in-house construction and engineering teams to build its facilities. These assets are hard to replicate. Iren also recently completed the acquisition of Mirantis, adding software capabilities to complement its data center hardware.
Iren isn't just building data centers. The Mirantis deal shows Iren is positioning to become a leading AI cloud infrastructure provider over the long term -- and that ambition still isn't reflected in the stock's $19 billion market value.
The company is currently at $1 billion in annualized revenue, with management guiding to $4 billion by the end of 2026. Contract pricing for capacity is also moving higher. Recent three-year contracts have cleared more than $20 million of revenue per IT megawatt, with current discussions pointing to $25 million per megawatt.
Iren has a pipeline of more than 5 gigawatts, which translates into tens of billions in long-term revenue potential. It just delivered the first of four 50-megawatt liquid-cooled units to Microsoft as part of a previously announced five-year, $9.7 billion deal from October 2025. The next deployments are expected in the fourth quarter of 2026.
That first delivery validates Iren's ability to execute complex projects -- a must-have capability in today's market. It also reinforces the strength of Iren's vertically integrated approach, which could help it build faster, hit timelines, and win more large-scale contracts.
Wall Street analysts expect adjusted operating profit to reach $10.7 billion by fiscal 2029. Against an enterprise value (market cap plus net debt) of about $19 billion, the stock looks cheap. Investors who are able to hold through near-term volatility could be rewarded.
2. Vertiv: A leader in power management and cooling
Vertiv helps data centers manage power usage and keep chips running efficiently with advanced cooling systems, including liquid cooling. The company's revenue growth has strengthened over the past three years, pushing the stock up 596%.
As server racks draw more power and generate more heat, Vertiv can sell more equipment to each data center. Over time, that can translate into higher revenue per build-out -- and stronger margins as demand shifts toward more complex, higher-value systems.
In the recent quarter, revenue grew 24% year over year, with adjusted operating profit margin above 22%. Management is seeing a strong data center market that's expanding geographically, with smaller frontier AI labs maturing into larger customers with bigger spending budgets. These trends support Vertiv's growth outlook.
That backdrop is why management now guides for long-term annualized revenue growth of 20% to 22% through 2030, up from its prior 12% to 14% outlook. It also expects adjusted operating margin to improve to at least 27%, which would drive faster earnings growth.
Management's confidence reflects broad demand -- from individual products like switchgear to full-system designs through offerings like OneCore and SmartRun. That end-to-end footprint can deepen customer relationships and increase long-term stickiness.
Wall Street expects long-term earnings growth of 38% annually. If that plays out, investors could see strong returns even with the stock trading at around a forward price-to-earnings multiple of 37.
Should you buy stock in Iren right now?
Before you buy stock in Iren, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Iren wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $386,781!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,379,943!*
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*Stock Advisor returns as of September 26, 2026.
John Ballard has positions in Iren. The Motley Fool has positions in and recommends Microsoft and Vertiv. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

2 Data Center Stocks That Could Help Make You a Fortune

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares S&P 500 Growth ETF (Symbol: IVW) where we have detected an approximate $142.4 million dollar outflow -- that's a 0.2% decrease week over week (from 550,400,000 to 549,400,000). Among the largest underlying components of IVW, in trading today Palo Alto Networks, Inc (Symbol: PANW) is down about 3%, Vertiv Holdings Co (Symbol: VRT) is up about 2.2%, and Quanta Services, Inc. (Symbol: PWR) is higher by about 0.3%. For a complete list of holdings, visit the IVW Holdings page » The chart below shows the one year price performance of IVW, versus its 200 day moving average:
Looking at the chart above, IVW's low point in its 52 week range is $108.13 per share, with $143.89 as the 52 week high point — that compares with a last trade of $142.56. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further IVW Research:

IVW, PANW, VRT, PWR: ETF Outflow Alert

Wall Street finished virtually flat on Sept. 24, as stocks staged a late-day recovery, erasing earlier losses triggered by surging bond yields and rising oil prices. A brief intraday pullback came as investors digested potential U.S.-Iran discussions regarding the Strait of Hormuz.
With the 30-year U.S. Treasury yield surging to its highest level since 2004, market participants remain cautious about concentrating heavily in high-multiple, pure-growth stocks.
Instead, dividend growth stocks offer an appealing sweet spot: combining steady income generation, lower equity volatility and long-term compounding power amid macro uncertainty.
These companies boast a proven track record of increasing payouts, underscoring the balance-sheet strength and cash-flow resilience required to navigate a market environment where traditional growth narratives are being reassessed.
Stocks with a strong history of year-over-year dividend growth can help build a resilient portfolio with greater potential for capital appreciation compared to simple dividend-paying or high-yield stocks.
We have selected five dividend growth stocks, Enersys Inc. ENS, Amgen AMGN, Cheesecake Factory CAKE, Vertiv Holdings VRT and Taiwan Semiconductor TSM, which could be solid choices for your portfolio.
Why Is Dividend Growth Better?
Stocks with a strong history of dividend growth are typically associated with mature companies that are less prone to sharp market swings, allowing them to serve as a hedge against economic or political uncertainty as well as broader market volatility. Their steadily rising payouts provide some measure of downside protection.
These companies are generally backed by solid fundamentals, making them attractive long-term dividend-growth investments. Key strengths include durable business models, consistent profitability, expanding cash flows, healthy liquidity, strong balance sheets and attractive valuations.
A consistent history of dividend growth underscores the potential for continued growth ahead.
Although these stocks do not necessarily have the highest yields, they have outperformed the broader stock market and other dividend-paying stocks over an extended period.
As a result, selecting dividend-growth stocks appears to be a winning strategy when other key parameters are taken into account.
5-Year Historical Dividend Growth Greater Than Zero: This selects stocks with a solid dividend growth history.
5-Year Historical Sales Growth Greater Than Zero: This represents stocks with a strong record of growing revenues.
5-Year Historical EPS Growth Greater Than Zero: This represents stocks with a solid earnings growth history.
Next 3-5 Year EPS Growth Rate Greater Than Zero: This represents the rate at which a company's earnings are expected to grow. Improving earnings should help companies sustain dividend payments.
Price/Cash Flow Less Than M-Industry: A ratio lower than the industry median indicates that a stock is undervalued within its industry, meaning an investor would pay less for the company’s cash flow.
52-Week Price Change Greater Than S&P 500 (Market Weight): This ensures that a stock has appreciated more than the S&P 500 over the past year.
Top Zacks Rank: Stocks having a Zacks Rank #1 (Strong Buy) or 2 (Buy) generally outperform their peers in all types of market environments.
Growth Score of B or Better: Our research shows that stocks with a Growth Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best upside potential.
These few criteria alone narrowed the universe from more than 7,700 stocks to just eight.
Here are five of the eight stocks that fit the bill:
Pennsylvania-based EnerSys manufactures, markets and distributes industrial batteries and related stored-energy products. It also develops battery chargers and accessories, power electronics, power equipment and outdoor cabinet enclosures. The Zacks Consensus Estimate for ENS' fiscal 2027 revenues suggests a year-over-year improvement of 3.7%. The stock boasts a long-term (three-to-five years) earnings growth rate of 15% and has an annual dividend yield of 0.64%.
ENS currently carries a Zacks Rank #2 and has a Growth Score of A.
California-based Amgen is one of the biggest biotech companies in the world, with a strong presence in the oncology, general medicine, inflammation and rare diseases markets. The Zacks Consensus Estimate for AMGN’s 2026 revenues suggests a year-over-year improvement of 5.6%. The stock boasts a long-term earnings growth rate of 6% and has an annual dividend yield of 2.48%.
AMGN currently carries a Zacks Rank #2 and has a Growth Score of B.
Headquartered in California, Cheesecake Factory is a restaurant and bakery company that owns and operates hundreds of upscale, full-service dining locations. The Zacks Consensus Estimate for CAKE's 2026 revenues suggests a year-over-year improvement of 7%. The stock boasts a long-term earnings growth rate of 13.40% and an annual dividend yield of 1.15%.
CAKE currently sports a Zacks Rank #1 and has a Growth Score of B. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ohio-based Vertiv Holdings is a leading global provider of critical digital infrastructure and services for data centers, communication networks, and commercial and industrial environments. The Zacks Consensus Estimate for VRT’s 2026 revenues suggests a year-over-year improvement of 36.9%. The stock boasts a long-term earnings growth rate of 36.30% and has an annual dividend yield of 0.10%.
VRT currently carries a Zacks Rank #2 and has a Growth Score of A.
Headquartered in Taiwan, Taiwan Semiconductor is the world's largest dedicated integrated circuit foundry. The Zacks Consensus Estimate for TSM’s 2026 revenues suggests a year-over-year improvement of 36.5%. The stock boasts a long-term earnings growth rate of 27.30% and has an annual dividend yield of 0.78%.
TSM currently carries a Zacks Rank #2 and has a Growth Score of B.
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This article originally published on Zacks Investment Research (zacks.com).

Bet on These 5 Dividend Growth Stocks Amid Rising Treasury Yields

TD SYNNEX Corporation SNX reported non-GAAP earnings of $5.68 per share for the third quarter of fiscal 2026, beating the Zacks Consensus Estimate by 22.4%. The bottom line increased 58.7% year over year. Revenues of $21.56 billion surpassed the consensus mark by 14.8% and rose 37.7% year over year.
The strong performance reflected broad-based momentum across Distribution and Hyve Solutions. Non-GAAP gross billings climbed 40% year over year to $31.83 billion, with both businesses growing above management's expectations.
SNX's Distribution Business Maintains Strong Momentum
Distribution revenues totaled $17.76 billion, up 35% year over year. Non-GAAP gross billings increased 27% to $24.82 billion, reflecting double-digit growth across all regions and most major technologies. Data center infrastructure was a notable area of strength.
Distribution non-GAAP operating income jumped 55% to $483.5 million. Non-GAAP operating margin, measured against gross billings, expanded 35 basis points to 1.95%. Management attributed the improvement to strong gross billings growth and disciplined expense management despite some pressure from customer and product mix.
Within the Distribution business, Advanced Solutions revenues increased 57% year over year to $8.5 billion, supported by infrastructure, software and AI-related technologies. Non-GAAP gross billings rose 37% to $14.5 billion.
Endpoint Solutions revenues advanced 20% to $9.3 billion, while gross billings increased 16% to $10.3 billion. PC demand benefited from higher average selling prices despite a modest decline in units. Within Distribution, servers and storage posted 67% year-over-year growth in gross billings, the strongest growth among the disclosed product categories.
TD SYNNEX Corporation Price, Consensus and EPS Surprise
TD SYNNEX's Hyve Growth Remains Robust
Hyve Solutions generated revenues of $3.80 billion, up 51.7% year over year. Non-GAAP gross billings surged 117.5% to $7.01 billion, driven by higher manufacturing volumes and continued strength in supply-chain services. Manufacturing grew more than 130%, while supply-chain services advanced more than 90%.
Hyve's non-GAAP operating income increased 55.8% to $253 million. However, non-GAAP operating margin based on gross billings contracted 143 basis points to 3.61%. The decline reflected a greater contribution from large AI rack programs, which are profitable but carry lower margins than the Hyve average.
TD SYNNEX Posts Growth Across All Regions
Americas Distribution revenues climbed 39.9% year over year to $10.32 billion, while gross billings increased 28% to $14.98 billion. The growth was driven primarily by servers and storage, software and PCs.
Europe Distribution revenues rose 30.2% to $6.37 billion, with gross billings up 26% to $8.16 billion. Asia-Pacific and Japan Distribution revenues jumped 21.7% to $1.07 billion, while gross billings advanced 26.1% to $1.67 billion. Europe recorded particularly strong operating leverage, with non-GAAP operating income rising 116.4%.
TD SYNNEX's Q3 Profitability
Gross profit increased 26.2% year over year to $1.43 billion, while gross margin contracted 61 basis points to 6.61%, reflecting business mix, including higher Hyve contributions and lower-margin AI infrastructure programs.
Non-GAAP operating income climbed 55.1% to $736 million. Non-GAAP operating margin expanded 39 basis points year over year to 3.42%, supported by higher business volumes and improved Distribution operating margins. Disciplined cost management also helped operating profit grow faster than gross profit.
SNX's Cash Flow and Shareholder Returns
TD SYNNEX ended the third quarter with $749.3 million in cash and cash equivalents and $3.60 billion in long-term borrowings. Operating cash outflow was $916.7 million, while free cash flow usage totaled $975.6 million. The cash use mainly reflected higher inventory and working capital investments to support Hyve's new customers and programs.
For the first nine months of fiscal 2026, operating cash outflow was $2.08 billion, while free cash flow usage totaled $2.24 billion.
TD SYNNEX returned about $138.7 million to shareholders in the third quarter through roughly $100.3 million in share repurchases and $38.4 million in dividends. During the first nine months, SNX repurchased $292.4 million of common stock and paid $115.6 million in dividends.
TD SYNNEX Provides Strong Q4 Guidance
For the fourth quarter of fiscal 2026, TD SYNNEX expects revenues between $21.8 billion and $22.6 billion. Non-GAAP gross billings are projected between $31.4 billion and $32.4 billion.
Non-GAAP earnings are expected between $5.65 and $6.15 per share. Management expects Hyve gross billings to increase sequentially as new customer programs ramp and anticipates positive cash generation as recently deployed working capital begins to normalize.
SNX’s Zacks Rank & Other Stocks to Consider
TD SYNNEX currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks worth considering in the broader Zacks Computer and Technology sector are Telos TLS, Vertiv VRT and Taboola.com TBLA. Telos sports a Zacks Rank #1 (Strong Buy) at present, while Vertiv and Taboola.com each carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Telos’ 2026 earnings is pegged at 16 cents per share, up a penny over the past 30 days, indicating a year-over-year rise of 77.8%. Telos shares have plunged 20.2% year to date (YTD).
The Zacks Consensus Estimate for Vertiv’s 2026 earnings has moved northward by 5 cents to $6.69 per share over the past 30 days and calls for a year-over-year increase of 59.3%. Vertiv shares have jumped 51.4% YTD.
The Zacks Consensus Estimate for Taboola.com’s 2026 earnings has been revised upward by 81.8% to 60 cents per share over the past 30 days, implying a year-over-year increase of 15.4%. Taboola.com shares have fallen 25.2% YTD.
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TD SYNNEX Q3 Earnings Beat Estimates on Distribution and Hyve Strength

(RTTNews) - Vertiv Holdings Co. (VRT), a provider of infrastructure and services for data centers, communication networks, and commercial and industrial environments, announced on Thursday that it has agreed to acquire King Environmental Services Ltd., a Europe-based provider of fluid management, commissioning and load-testing services for liquid-cooled data centers. Financial terms of the deal were not disclosed.
Vertiv said the deal will expand its thermal management services into Europe, the Middle East and Africa, building on its North American presence established through the 2025 acquisition of PurgeRite.
King Environmental Services adds capabilities in system preparation, performance validation, monitoring, maintenance and lifecycle optimization. Vertiv said combining these with its broader portfolio will strengthen support for customers deploying high-density and AI-driven infrastructure.
The transaction is expected to close in the fourth quarter of 2026.
In pre-market activity on the NYSE, shares of Vertiv were down 1.68 percent, changing hands at $244.60, after closing Wednesday's regular session 1.85 percent lower.

Vertiv To Acquire King Environmental Services, Expand Fluid Management In EMEA

Artificial intelligence (AI) is driving expansion of data centers, bringing cooling and power infrastructure into sharper focus. This is creating opportunities for companies that supply the infrastructure behind modern data centers. Companies such as Eaton Corporation ETN and Vertiv VRT stand tall in this backdrop.
Eaton is a global leader in power management and electrical systems, while Vertiv is a leading global provider of critical digital infrastructure and services for data centers, communication networks, and commercial and industrial environments.
With innovative product portfolios, recurring revenue streams and strong exposure to digital transformation trends, both companies are well-positioned to benefit.
For long-term investors, which stock offers the more compelling opportunity? Let’s take a closer look at both companies' fundamentals.
Factors to Consider for ETN
Eaton is positioned to benefit from grid modernization, data-center expansion, industrial automation, the energy transition and an aerospace recovery. Its growing backlog underscores strong demand and the importance of its power-management solutions across critical infrastructure.
Innovation and sustainability underpin Eaton’s strategy. The company plans to invest approximately $3 billion in research and development over the next decade, advancing sustainable technologies, broadening its portfolio and addressing evolving customer needs.
Acquisitions, including Fibrebond, Resilient Power, Ultra PCS and Boyd, strengthen Eaton’s capabilities across electrical infrastructure, aerospace and other priority markets. These additions offer attractive growth prospects and opportunities to enhance margins.
AI-driven data-center development presents a significant opportunity, given these facilities’ substantial power, reliability and efficiency requirements. Eaton’s expanding reach across the electrical power value chain supports its ability to capture this demand. Exposure to utilities, industrial, commercial, residential and aerospace markets further diversifies its revenue base.
Portfolio optimization, productivity improvements and disciplined execution should support operating efficiency and margin expansion. The planned Mobility separation will enable Eaton to allocate more capital toward businesses offering stronger growth and returns.
Meanwhile, Eaton is investing more than $1 billion in capacity expansion and pursuing roughly two dozen Electrical Americas projects. As these facilities ramp up, they should increase production, support higher daily revenues and improve the company’s ability to fulfill sustained customer demand.
Factors to Consider for VRT
Vertiv is well-positioned for sustained growth as expanding AI infrastructure drives demand for power, cooling, services and integrated deployment support. Its broad portfolio enables it to capture spending across these critical areas as AI computing capacity scales. Demand remains strong across the Americas and Asia Pacific, while EMEA has returned to growth with a strengthening pipeline.
The company is expanding its liquid-cooling capabilities through strategic acquisitions. Its April 2026 purchase of Strategic Thermal Labs strengthens its expertise in cold-plate design and server-side liquid cooling for AI workloads. Its collaboration with NVIDIA and the development of 800-volt DC power solutions further reinforce Vertiv’s role in next-generation data center designs.
Vertiv continues to invest in advanced power architectures, thermal systems, services and converged infrastructure as higher-density AI deployments increase infrastructure requirements per megawatt. Its technology roadmap spans traditional AC, medium-voltage AC and 800-volt DC architectures, with customer validation and deployments planned through 2028.
Strong execution is supporting margin expansion and higher cash generation, while a net cash position provides flexibility for continued investment. Management raised its full-year 2026 adjusted operating margin guidance to 23.3%-24.3% and expects pricing gains to outpace inflation, including the impact of current tariffs and countermeasures.
Reflecting this momentum, Vertiv raised its 2026 net sales outlook to $14 billion, representing 37% year-over-year growth. Adjusted EPS is now projected at $6.70, up 60% from 2025, while adjusted operating profit is expected to increase nearly 60%. Adjusted free cash flow is forecast at $2.5 billion.
Price Performance of ETN and VRT
ETN shares have gained 36.7% year to date, while VRT shares have risen 54.8%.
Estimates for ETN and VRT
The Zacks Consensus Estimate for ETN’s 2026 revenues implies a year-over-year increase of 19%, while that for EPS implies a rise of 12.2%. EPS estimates witnessed a 3-cent upward movement in the past 30 days. The expected long-term earnings growth rate is 12.2%.
The Zacks Consensus Estimate for VRT’s 2026 revenues implies a year-over-year increase of 36.9%, and that for EPS implies a rise of 59.3%. EPS estimates witnessed a 5-cent upward movement in the past 30 days. The expected long-term earnings growth rate is 36.3%.
Are ETN and VRT Shares Expensive?
Eaton is trading at a forward 12-month price-to-earnings of 28.45X, above the median of 27.25X over the last three years.
Vertiv is trading at a forward 12-month price-to-earnings of 30.1X, below the median of 32.24X over the last three years.
Vertiv shares are more expensive than Eaton’s.
Conclusion
Eaton continues to deliver strong performance across its core businesses while benefiting from rising demand tied to data center expansion. Focusing on research and development supports innovation, improves its product portfolio and enables it to meet changing customer requirements better. Additionally, strategic acquisitions are enhancing Eaton’s capabilities, broadening its product offerings and increasing its reach across attractive growth markets.
AI infrastructure demand, integrated capabilities, technology investment, margin execution, and financial flexibility support sustained growth and potential market share gains for Vertiv.
While Vertiv carries a Zacks Rank #2 (Buy) at present, Eaton has a Zacks Rank #3 (Hold). Given positive analyst sentiment and growth estimates, Vertiv, with a VGM Score of A, has an edge over Eaton, which has a VGM Score of D.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).

Vertiv Holdings, LLC

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