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Advanced Energy Industries vs Vertiv: revenue, profit, margins and growth compared

Advanced Energy Industries brought in $1.8B of revenue in fiscal 2025, Vertiv $10.2B in fiscal 2025. Revenue changed by +21.4% at Advanced Energy Industries and +27.7% at Vertiv on the year before, so Vertiv grew faster. Advanced Energy Industries kept 8.2% of its revenue as net profit, Vertiv 13.0%. Free cash flow was $125.9M at Advanced Energy Industries and $1.9B at Vertiv.

Side by side, latest fiscal year

AEISVRT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.8B$10.2B
Revenue growth+21.4%+27.7%
Net income$148.4M$1.3B
Net margin8.2%13.0%
Free cash flow$125.9M$1.9B
Free cash flow margin7.0%18.5%
Earnings per share (diluted)$3.84$3.41
Cash$791.2M$1.7B
Debt$567.5M$2.9B
Price to earnings72.874.3
Market value$11.2B$97.5B
Dividend yield0.04%n/a
Rank by revenue in sector#157 of 530 · Technology#58 of 530 · Technology

Over the years

Revenue
AEIS FY2018: $718.9MAEIS FY2019: $788.9MAEIS FY2020: $1.4BAEIS FY2021: $1.5BAEIS FY2022: $1.8BAEIS FY2023: $1.7BAEIS FY2024: $1.5BAEIS FY2025: $1.8BVRT FY2018: $4.3BVRT FY2019: $4.4BVRT FY2020: $4.4BVRT FY2021: $5BVRT FY2022: $5.7BVRT FY2023: $6.9BVRT FY2024: $8BVRT FY2025: $10.2BFY18FY19FY20FY21FY22FY23FY24FY25
AEIS $1.8BVRT $10.2B
Net income
AEIS FY2018: $147MAEIS FY2019: $64.9MAEIS FY2020: $134.7MAEIS FY2021: $134.7MAEIS FY2022: $199.7MAEIS FY2023: $128.3MAEIS FY2024: $54.2MAEIS FY2025: $148.4MVRT FY2018: -$314MVRT FY2019: -$140.8MVRT FY2020: -$327.3MVRT FY2021: $119.6MVRT FY2022: $76.6MVRT FY2023: $460.2MVRT FY2024: $495.8MVRT FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
AEIS $148.4MVRT $1.3B
Net margin
AEIS FY2018: 20.5%AEIS FY2019: 8.2%AEIS FY2020: 9.5%AEIS FY2021: 9.3%AEIS FY2022: 10.8%AEIS FY2023: 7.7%AEIS FY2024: 3.7%AEIS FY2025: 8.2%VRT FY2018: -7.3%VRT FY2019: -3.2%VRT FY2020: -7.5%VRT FY2021: 2.4%VRT FY2022: 1.3%VRT FY2023: 6.7%VRT FY2024: 6.2%VRT FY2025: 13.0%FY18FY19FY20FY21FY22FY23FY24FY25
AEIS 8.2%VRT 13.0%
Revenue growth
AEIS FY2019: +9.7%AEIS FY2020: +79.5%AEIS FY2021: +2.8%AEIS FY2022: +26.8%AEIS FY2023: -10.3%AEIS FY2024: -10.5%AEIS FY2025: +21.4%VRT FY2019: +3.4%VRT FY2020: -1.4%VRT FY2021: +14.4%VRT FY2022: +13.9%VRT FY2023: +20.6%VRT FY2024: +16.7%VRT FY2025: +27.7%FY19FY20FY21FY22FY23FY24FY25
AEIS +21.4%VRT +27.7%
Free cash flow
AEIS FY2018: $130.9MAEIS FY2019: $23.2MAEIS FY2020: $164.9MAEIS FY2021: $111.4MAEIS FY2022: $124.7MAEIS FY2023: $147.9MAEIS FY2024: $74MAEIS FY2025: $125.9MVRT FY2018: -$286.5MVRT FY2019: $9.9MVRT FY2020: $164.5MVRT FY2021: $137.5MVRT FY2022: -$252.8MVRT FY2023: $772.6MVRT FY2024: $1.2BVRT FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
AEIS $125.9MVRT $1.9B

Fiscal years as each company reports them; the two may end in different months.

Questions about Advanced Energy Industries and Vertiv

Which is bigger by revenue, Advanced Energy Industries or Vertiv?

Vertiv is bigger by revenue: $10.2B in fiscal 2025, against $1.8B for Advanced Energy Industries in fiscal 2025.

Which keeps more of its revenue as profit, Advanced Energy Industries or Vertiv?

Advanced Energy Industries had a net margin of 8.2% in fiscal 2025; Vertiv had 13.0% in fiscal 2025.

Which grew revenue faster, Advanced Energy Industries or Vertiv?

In their latest fiscal years revenue changed by +21.4% at Advanced Energy Industries and +27.7% at Vertiv.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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