Vertiv dividend
Vertiv pays a quarterly dividend of $0.0625 per share. Vertiv’s free cash flow covered acquisitions and dividends while cash still increased.
How much does Vertiv pay per share?
Buybacks remain optional rather than automatic. The board authorized as much as $3 billion through 2027, but the company bought shares in 2024 and none in 2025. That preserved cash for acquisitions and production capacity. The quarterly dividend still reached $0.0625 per share in November 2025.
The dividend rises more slowly than earnings. The base case moves from $0.25 to $0.30 and then $0.35 per share. The bear case holds at $0.25 because acquisitions and capacity spending take priority. The bull case reaches $0.30 initially and then $0.50. The base is supported by 2026 free-cash-flow guidance of $2.4–$2.6 billion, while the payout remains small beside the $66.6 million paid in 2025.
| October 2027 | October 2028 | October 2029 | |
|---|---|---|---|
| Earnings | 3,332 (2,200 / 3,648) | 4,218 (2,520 / 4,560) | 4,968 (2,755 / 5,800) |
| Dividends per share | 0.25 (0.25 / 0.30) | 0.30 (0.25 / 0.40) | 0.35 (0.25 / 0.50) |
| Price to earnings | 25.00 (18.00 / 32.00) | 23.00 (16.00 / 30.00) | 21.00 (15.00 / 28.00) |
Is Vertiv’s dividend covered by its cash?
The later record shows a change. Free cash flow was negative in 2022 but had recovered by 2025 enough to cover acquisitions and dividends while cash still increased. Net debt fell from $2,533.2 million in 2021 to $1,085.1 million in 2025. This improvement had a substantial operating foundation, unlike the investor-funded reset at the listing.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Free cash flow | 1,887.4 | 1,135.2 | 765.9 | -263.8 | 126.3 |
| − Dividends paid | 66.6 | 42.2 | 9.5 | 3.8 | 3.8 |
| − Share buybacks | 0 | 599.9 | 0 | 0 | 0 |
| = Free cash flow not paid out | 1,820.8 | 493.1 | 756.4 | 122.5 | |
| Paid out, % of free cash flow | 3.5% | 56.6% | 1.2% | not meaningful | 3.0% |
What this means. In 2022, the company paid shareholders more than its free cash flow, so the leftover line is blank and the extra amount appears separately.
What could change Vertiv’s dividend?
During 2027–28, weakening customer advances alongside rising inventory and capacity spending would pressure cash conversion. That would reduce flexibility for buybacks and acquisitions, especially against planned capital spending of $550–$570 million.
What is Vertiv’s dividend yield today?
EBITDA adds depreciation and amortization back to operating profit; it is a rough operating measure, not cash. Vertiv’s calculated operating EBITDA produces an enterprise value of about 31.1x. Free cash flow is more demanding because it subtracts capital investment. Its 2.4% yield, alongside a separately calculated 2.3% real free-cash-flow yield and a 0.1% dividend yield, leaves little support if growth disappoints. The 16.8x price-to-book ratio is also weak evidence because acquisitions create goodwill and amortizable customer relationships whose value depends on future profit.
| Today (Oct 16, 2026) | |
|---|---|
| Share price | 207.35 |
| Free cash flow yield (calculated) | 2.4% |
| Dividend yield (calculated) | 0.1% |
What this means. The whole-business value is slightly lower than the stock-market value because the company has more cash and short-term investments than debt.