VRT · Forward model · Americas
What has to happen in Americas
Model as of
This page changes Americas inside the complete VRT model. Every other vertical, corporate programme and valuation assumption stays in the selected portfolio case.
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Americas
Power, thermal and services into US and Latin-American data centers — 63% of the basis quarter and the AI-factory engine. What paces it is conversion of already-booked work, not whether the work exists: Q2 missed the company's own midpoint because of supply-chain congestion and multi-phase project execution, and the raise sitting next to that miss is the evidence management gave that the miss was timing. No unit or megawatt series is disclosed, so the projection is sequential growth on the reported geography.
Latest: $5.82B (2031Q2E)
| Period | Value |
|---|---|
| 2024Q1 | $925M |
| 2024Q2 | $1.12B |
| 2024Q3 | $1.20B |
| 2024Q4 | $1.26B |
| 2025Q1 | $1.19B |
| 2025Q2 | $1.60B |
| 2025Q3 | $1.71B |
| 2025Q4 | $1.89B |
| 2026Q1 | $1.81B |
| 2026Q2 | $2.07B |
| 2026Q3E | $2.44B |
| 2026Q4E | $2.80B |
| 2027Q1E | $2.81B |
| 2027Q2E | $3.29B |
| 2027Q3E | $3.56B |
| 2027Q4E | $3.81B |
| 2028Q1E | $3.63B |
| 2028Q2E | $4.10B |
| 2028Q3E | $4.30B |
| 2028Q4E | $4.51B |
| 2029Q1E | $4.22B |
| 2029Q2E | $4.70B |
| 2029Q3E | $4.88B |
| 2029Q4E | $5.08B |
| 2030Q1E | $4.73B |
| 2030Q2E | $5.25B |
| 2030Q3E | $5.44B |
| 2030Q4E | $5.65B |
| 2031Q1E | $5.25B |
| 2031Q2E | $5.82B |
Assumptions & reasoning
- Modelled on sequential growth rather than units or capacity because Vertiv publishes neither a rack/MW shipped figure nor a nameplate. The 16.9% opening rate is the underlying pace before the Q3 factor; together they preserve the prior ~$2.44B Q3 target.
- Americas Q2 was +29.2% reported and +21.1% organic. Acquisition sales were $124.1M of the $468.5M increase — PurgeRite and other 2025/2026 deals sitting in the base, which is why opening growth is applied to $2,070.8M rather than added as a new vertical.
- Adjusted operating margin 27.6% in the basis quarter, 30.1% in Q4 2025. Terminal 30% holds the recent peak rather than walking to the company-level 27% ambition; that ambition is the Framework case. Capex is not disclosed by segment: 5% now and 4% later is the company rate from the Q2 release, applied here because there is nothing else to apply.
- Concentration is the risk no slider expresses. One delayed US hyperscale campus is an Americas miss, which is what Q2 just was. The $15.0B backlog is Q4 2025 and was not updated in Q2, so it is not used as a volume input.