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Impinj vs Vertiv: revenue, profit, margins and growth compared

Impinj brought in $361.1M of revenue in fiscal 2025, Vertiv $10.2B in fiscal 2025. Revenue changed by -1.4% at Impinj and +27.7% at Vertiv on the year before, so Vertiv grew faster. Impinj kept -3.0% of its revenue as net profit, Vertiv 13.0%. Free cash flow was $45.9M at Impinj and $1.9B at Vertiv.

Side by side, latest fiscal year

PIVRT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$361.1M$10.2B
Revenue growth-1.4%+27.7%
Net income-$10.8M$1.3B
Net margin-3.0%13.0%
Free cash flow$45.9M$1.9B
Free cash flow margin12.7%18.5%
Earnings per share (diluted)-$0.37$3.41
Cash$48.2M$1.7B
Debt$280.9M$2.9B
Price to earningsn/a74.3
Market value$5.4B$97.5B
Dividend yieldn/an/a
Rank by revenue in sector#340 of 530 · Technology#58 of 530 · Technology

Over the years

Revenue
PI FY2018: $122.6MPI FY2019: $152.8MPI FY2020: $138.9MPI FY2021: $190.3MPI FY2022: $257.8MPI FY2023: $307.5MPI FY2024: $366.1MPI FY2025: $361.1MVRT FY2018: $4.3BVRT FY2019: $4.4BVRT FY2020: $4.4BVRT FY2021: $5BVRT FY2022: $5.7BVRT FY2023: $6.9BVRT FY2024: $8BVRT FY2025: $10.2BFY18FY19FY20FY21FY22FY23FY24FY25
PI $361.1MVRT $10.2B
Net income
PI FY2018: -$35.2MPI FY2019: -$23MPI FY2020: -$51.9MPI FY2021: -$51.3MPI FY2022: -$24.3MPI FY2023: -$43.4MPI FY2024: $40.8MPI FY2025: -$10.8MVRT FY2018: -$314MVRT FY2019: -$140.8MVRT FY2020: -$327.3MVRT FY2021: $119.6MVRT FY2022: $76.6MVRT FY2023: $460.2MVRT FY2024: $495.8MVRT FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
PI -$10.8MVRT $1.3B
Net margin
PI FY2018: -28.7%PI FY2019: -15.0%PI FY2020: -37.4%PI FY2021: -26.9%PI FY2022: -9.4%PI FY2023: -14.1%PI FY2024: 11.2%PI FY2025: -3.0%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
PI -3.0%VRT 13.0%
Revenue growth
PI FY2019: +24.6%PI FY2020: -9.1%PI FY2021: +37.0%PI FY2022: +35.5%PI FY2023: +19.3%PI FY2024: +19.0%PI FY2025: -1.4%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
PI -1.4%VRT +27.7%
Free cash flow
PI FY2018: -$18.1MPI FY2019: $2.3MPI FY2020: -$20MPI FY2021: -$9.8MPI FY2022: -$11.4MPI FY2023: -$68MPI FY2024: $111.2MPI FY2025: $45.9MVRT FY2018: -$286.5MVRT FY2019: $9.9MVRT FY2020: $164.5MVRT FY2021: $137.5MVRT FY2022: -$252.8MVRT FY2023: $772.6MVRT FY2024: $1.2BVRT FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
PI $45.9MVRT $1.9B

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

Questions about Impinj and Vertiv

Which is bigger by revenue, Impinj or Vertiv?

Vertiv is bigger by revenue: $10.2B in fiscal 2025, against $361.1M for Impinj in fiscal 2025.

Which keeps more of its revenue as profit, Impinj or Vertiv?

Impinj had a net margin of -3.0% in fiscal 2025; Vertiv had 13.0% in fiscal 2025.

Which grew revenue faster, Impinj or Vertiv?

In their latest fiscal years revenue changed by -1.4% at Impinj 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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