--- canonical_url: https://www.stockexpertai.com/zh/earnings/vrt last_updated: 2026-08-04T06:16:32.160Z --- # Vertiv Holdings Co (VRT) Q1 FY2027 财报预览 > 此内容由 FMP 实时数据 + Q1 FY2026 财报电话会议记录自动生成。生成时间：2026-08-04T06:16:31.012Z。本工具为教育目的，不构成投资建议。 --- ## 快速摘要 | 字段 | 值 | 来源 | |---|---|---| | 价格 | $263.05 (▲ 8.89%) | fmp:quote | | 市值 | $101.3B | fmp:profile | | 52周区间 | $118.70 – $379.94 | fmp:quote | | 财报 | 周三 28 10月 | fmp:earnings-history | | EPS 预期 | $1.81 (+46% YoY) | fmp:earnings-estimate | | 营收预期 | $3.8B | fmp:earnings-estimate | | 超预期连胜 | 8/4 | fmp:earnings-history | | 评级 | B (overall 3/5) | fmp:ratings | | 分析师中位数目标价 | $355 (+35.0% upside) | fmp:price-target-consensus | | MoonshotScore | 60/100 | derived | | Council | 4/6 bullish | derived | | 芒格结论 | 低估 | derived | ## Vertiv Holdings Co — Q1 FY2027 预期 Q1 季度共识：营收 $3.8B^{[FMP est]}，EPS $1.81^{[FMP est]}。Craig Chamberlin 在 Q1 财报电话会议中将 Americas 指引下调至 %27-27 (此前为 %23)^{[Craig Chamberlin Q-prev transcript]}。连续 8 个季度超出预期^{[FMP earnings]}。 ## 快速概览 **得分：** B · **立场：** BUY · **Council：** 4/6 · **Moonshot：** 60 = MoonshotScore 60^{[MoonshotScore]} + Council 4/6^[Council]。Americas 指引下调 %23 → %27-27^{[Craig Chamberlin Q-prev transcript]} 以及当前的 Form 4 信号 (0 笔交易)^{[FMP Form 4]} 阻止了 A- 评级。 ## 观察列表 (5个指标) ### 1. Fy26 Guidance Raise Vertiv在强劲的第一季度业绩后上调了2026财年调整后稀释每股收益、净销售额和调整后营业利润的指引。 > "我们正在上调全年指引，现在预计调整后稀释每股收益为$6.35，较2025年增长51%。这得益于我们将调整后营业利润指引上调至$3.2 billion，较2025年增长53%。调整后营业利润率现在预计为23.3%，比2025年高出190 basis points。" > — Giordano Albertazzi, CEO, Expectation / Guide · Q1 FY2026 ### 2. Regional Growth Dynamics 美洲以44%的有机增长领先，而EMEA则经历了29%的有机下降，但预计将在2026年下半年恢复同比增长。 > "从区域角度来看，美洲是主要引擎，有机增长44%。亚太地区有机增长12%，而EMEA有机下降29%。我们对EMEA在下半年恢复同比增长感到乐观，这已纳入我们的指引中。" > — Giordano Albertazzi, CEO, Investor Focus · Q1 FY2026 ### 3. Operating Margin Expansion 该公司在第一季度实现了调整后营业利润率同比大幅增长430 basis points，这得益于运营杠杆、生产力提升以及有利的价格成本执行。 > "调整后营业利润率为20.8%，同比增长430 basis points，比我们的指引高出180 basis points。我们20.8%的调整后营业利润率比去年扩大了430 basis points，显示了团队出色的运营表现。" > — Giordano Albertazzi, CEO, Risk Indicator · Q1 FY2026 ### 4. Capacity Capex Supply Chain Vertiv正在全球范围内加速制造和服务能力的战略投资，并实施多源采购策略，以满足加速增长的需求并增强运营弹性。 > "我们正在加速战略性产能投资，以满足我们所看到的需求。我们正在扩大全球制造服务足迹，同时通过VOS驱动的生产力提升释放潜在产能。我们Q1的资本支出持续高于去年同期，这证明了我们的承诺。在供应链方面，我们优先采用了多源采购策略，以降低供应商风险。" > — Giordano Albertazzi, CEO, Risk Indicator · Q1 FY2026 ### 5. Ai Infrastructure Demand 对人工智能基础设施日益增长的需求正促使该公司在客户对话中看到更高的紧迫性和更大规模的部署。 > "我们从客户对话中看到的情况与6 months前不同。紧迫性增加了。规模部署更大，技术复杂性正在为能够解决[indiscernible]的公司创造机会，这正是我们擅长的领域。我们仍处于AI基础设施建设的早期阶段。" > — David Cote, Executive Chairman, Investor Focus · Q1 FY2026 ## MoonshotScore 支柱 | 支柱 | 得分 | 水平 | 证据 | |---|---|---|---| | 营收增长 | 10.0 | strong | Q2 vs Q3: 快速增长 (+%22.4) | | 毛利率 | 4.0 | medium | Q2: 平均毛利率 (%37.7) | | 经营杠杆 | 2.0 | weak | 营业利润率健康 (%19.5) | | 现金流储备 | 10.0 | strong | FCF 非常强劲 ($0.9B，是资本支出的 5.3 倍以上) | | 研发投入强度 | 3.0 | weak | 低研发投资 (%1.8，创新薄弱) | | 价格动能 | 4.0 | medium | RSI 42.7 动能疲弱，50日均线之下 | | 新闻情绪 | 9.0 | strong | 强烈买入共识 (86%) | **公式:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula. ## Council (7视角) | 名称 | 立场 | 背景 | |---|---|---| | Ray Dalio | bull | 宏观 · 目标上涨空间 +35.0% | | Ken Griffin | bear | 资金流 · 50日均线之下 | | Jim Simons | neutral | 量化 · RSI 43 | | Klarman | bull | 价值 · 目标上涨空间 +35.0% | | Buffett | bull | 质量 · ROE 评分 5/5 | | Munger | bull | 估值 · 目标上涨空间 +35.0% | **公式:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr. ## 芒格视角 - **结论:** 低估 - **财务健康:** Moderate - **安全边际:** Strong - **利息覆盖率:** Adequate - **ROIC vs WACC:** Healthy **公式:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget. ## 技术水平 - **RSI(14):** 42.7 — momentum zayıf — oversold yakınında değil ama alıcı baskısı az - **50日均线:** $305 — hisse %13.7 altında — kısa vadeli direnç - **200日均线:** $247 — hisse %6.6 üstünde — uzun vadeli destek - **成交量 (10日):** +14% ## 历史表现 (4个季度) | 季度 | 实际 EPS | 预期 EPS | 结果 | 反应 | |---|---|---|---|---| | Q3 FY25 | $1.24 | $0.98 | BEAT | +6.8% | | Q4 FY25 | $1.36 | $1.29 | BEAT | -4.8% | | Q1 FY26 | $1.52 | $1.42 | BEAT | +5.4% | | Q2 FY26 | $1.52 | $1.43 | +6.3% EPS | +2.0% | Q1 (2026年4月22日): EPS $1.52 vs 预期 $1.43^[FMP]，超出 +%6.3。D+1 走势：+2.0%^{[FMP D+1]}。尽管超出预期，但股价下跌 — 市场对指引而非数据做出反应。 ## 3种情景 ### 情景 A · 超预期 **Q1 EPS > $1.81 + Americas ≥ %27** 阈值：EPS > $1.81^{[FMP est]} 且 Americas ≥ %27。目标：突破中位数目标价 $355^{[FMP target]}；高目标价 $500^[FMP] 为上限。 ### 情景 B · 符合预期 **EPS ≈ $1.81 + Americas %27-27 + {{cfoOrCeo}} 兑现资本支出承诺** 阈值：EPS ≈ $1.81^{[FMP est]}，Americas %27-27，Q1 资本支出 < $174.5M^[FMP]。目标：在当前价 $263^[FMP] 与中位数目标价 $355^[FMP] 区间内盘整。 ### 情景 C · 未达预期 **EPS < $1.76 或 Americas < %35 或资本支出 ≥ $174.5M** 阈值：EPS < $1.76^{[FMP est×0.97]} 或 Americas < %35。目标：当前价 $263 低于 200日均线 $247^[FMP]，若持续拒绝，则激活 $210^[derived] 支撑位。 ## 风险提示 ### {{segment}} 低于阈值 Q1 季度：EPS $1.52 vs 预期 $1.43^[FMP]，超出预期，股价 D+1 +2.0%^[FMP]。 Craig Chamberlin Q1 transcript: "Q1 was very strong with organic sales up 23% year-on-year."^{[Craig Chamberlin]}. ### 对 OpenAI 的依赖 Q1 财报电话会议中未披露 RPO/积压集中度。 ### 内幕交易 Form 4 数据已在表格中标记 — 本页面不为此股票生成假设。 | 高管 | 操作 | 金额 | 日期 | |---|---|---|---| **净额:** — (0 笔交易 · 0 笔卖出 · 0 笔买入) · Q2 FY26 ### 资本支出冲击 Q1 季度资本支出 $174.5M^{[FMP cashflow]}。 Craig Chamberlin Q1 transcript: "Our CapEx in Q1, sustainably higher than in the same quarter last year is a testament to that commitment."^{[Craig Chamberlin transcript]}. Q1 营业利润率 %19.5^{[FMP op margin]} — Q1 的这一水平对资本支出修订风险敏感。 ## 华尔街共识 - **中位数目标价:** $355 (+35.0% upside vs current $263) - **高 / 低:** $500 / $277 - **买入 / 持有 / 卖出:** 24 / 4 / 0 - **分析师数量:** 18 (上一季度), 77 历史总数 ## 额外财报电话会议洞察 ### 1. fy26_guidance_raise **主张:** Vertiv raised its full-year 2026 guidance for adjusted diluted EPS, net sales, and adjusted operating profit following strong Q1 results. **证据 (会议记录):** "We are raising our full year guidance, and we now expect adjusted diluted EPS of $6.35, up 51% from 2025. This is supported by raising our adjusted operating profit guidance to $3.2 billion, up 53% from 2025. Adjusted operating margin is now expected to be 23.3% to 190 basis points higher than 2025." **数据:** $6.35, %51, 2025, $3.2 billion, %53, %23.3, 190 basis points ### 2. ai_infrastructure_demand **主张:** Increased demand for AI infrastructure is leading the company to see greater urgency and larger scale deployments in customer conversations. **证据 (会议记录):** "What we're seeing in customer conversations is different than 6 months ago. The urgency has increased. The scale deployment is larger, and the technical complexity is creating opportunities for companies that can solve [indiscernible], which is exactly where we excel. We're still in the early stage of the infrastructure build out for AI." **数据:** 6 months ### 3. capacity_capex_supply_chain **主张:** Vertiv is accelerating global manufacturing and service capacity investments and implementing multi-sourcing strategies to meet accelerating demand and bolster operational resilience. **证据 (会议记录):** "We are accelerating our strategic capacity investments to meet the demand we are seeing. We're expanding our global manufacturing service footprint while unlocking latent capacity with VOS driven productivity gains. Our CapEx in Q1, sustainably higher than in the same quarter last year is a testament to that commitment. With respect to our supply chain, we have prioritized multi-sourcing strategies to mitigate supplier risk." **数据:** Q1 ### 4. regional_growth_dynamics **主张:** Americas led with 44% organic growth, while EMEA experienced a 29% organic decline but is expected to return to sales growth in the second half of 2026. **证据 (会议记录):** "From a regional perspective, America was the primary engine with 44% organic growth. APAC was up 12% organically, while EMEA was down 29% organically. We feel good about EMEA returning to year-over-year sales growth in the second half, which you see embedded in our guidance." **数据:** %44, %12, %29, 2026 ### 5. operating_margin_expansion **主张:** The company achieved a significant 430 basis point year-over-year expansion in adjusted operating margin in Q1, driven by operational leverage, productivity gains, and favorable price-cost execution. **证据 (会议记录):** "Adjusted operating margin came in at 20.8%, up 430 basis points year-on-year, and 180 basis points above our guidance. Our adjusted operating margin of 20.8% expanded by 430 basis points versus last year, showing a great operating performance from the team." **数据:** %20.8, 430 basis points, 180 basis points --- *数据来源：FMP (实时查询，2026-08-04)，Q1 FY2026 财报电话会议记录 (由 Gemini 2.0 Flash 翻译成中文)。本工具为教育目的，不构成投资建议。*