⚡What does Vertiv do, in 30 seconds?
Vertiv sells power and cooling equipment, racks and software, mainly to data centers, communication networks and industrial sites, and it services that equipment 1 1 1. It sold $10.2bn ✓ in FY2025, and products made up 82% ✓ of that. Its order backlog was $15.0 billion at the end of 2025, up from $7.2 billion a year earlier 5.
📱What does Vertiv sell?
Vertiv splits its sales into products, which brought in 82% ✓ in FY2025, and services. Its 10-K closes its overview with a trademarked line: "The world depends on data we power and cool." 2
Products
Power gear such as switchgear, busbar, single-phase UPS units and rack power strips, plus air and liquid cooling, racks, ready-built modules, energy storage and software for managing IT equipment 1. Its brands include Vertiv, Liebert, NetSure, Geist and Avocent 2. Products brought in $8.4bn ✓ in FY2025. In April 2026 Vertiv bought Strategic Thermal Labs, a specialist in cold-plate design and liquid cooling inside servers 4.
👥 Mainly data centers, from cloud giants to colocation, neocloud and company sites, plus communication networks and industrial sites 1. Vertiv sells mostly through its own sales force of about 3,000 people 1.
Services
Maintenance, project management, testing, engineering, remote monitoring, care of the fluids in cooling systems, training and spare parts 1. Vertiv runs more than 300 service centers with about 5,000 field service engineers 5. Services brought in $1.8bn ✓ in FY2025. In December 2025 Vertiv bought PurgeRite, which flushes and cleans data-center liquid cooling systems 6.
👥 Owners of Vertiv equipment who need it kept running. Vertiv works with many customers from planning through delivery and servicing 1.
How the mix has shifted
Where the customers are
The United States brings in the biggest share of Vertiv's sales, at 59% ✓ in FY2025. Asia added 20% ✓ and Europe 14% ✓. Latin America and Canada added 4% ✓, and the Middle East and Africa 3% ✓. Vertiv says it does business in more than 130 countries 25.
💸How does Vertiv make money?
Follow the money from left to rightfrom top to bottom: what customers pay for, what it costs to make, and what is left as profit.
Vertiv sold $10.2bn ✓ of products and services in FY2025. Making that equipment and doing that service work cost $6.5bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $3.7bn ✓.
Next come the costs of running the company. Research and development took $0.4bn ✓, and sales, marketing and admin took $1.6bn ✓. Other operating items added a small net gain. That left operating profit, the profit from the main business, of $1.8bn ✓. Interest and other items took a little more, and tax took $0.4bn ✓. Net income was $1.3bn ✓. Put simply, out of every hundred dollars of sales, Vertiv kept about $13 ✓ as profit.
Out of every $100 customers paid in FY2025…
Interest, investment gains and other income added +$2 for every $100 of sales, so the slices above add up to a little more than $100.
⏱️ Vertiv by the clock
Spread the FY2025 totals evenly over its 365 days and you get this. Source: Vertiv Holdings Co 10-K [7].
📈How is Vertiv doing?
Vertiv is growing fast. From FY2019 to FY2025, sales grew 15.0% ✓ a year on average. Sales rose in 5 ✓ of the 6 ✓ yearly changes, and jumped 27.7% ✓ in FY2025. Vertiv also kept much more of each sale. Operating margin rose from 4.7% ✓ in FY2019 to 17.9% ✓ in FY2025.
In the latest four quarters, to 30 June 2026, sales reached $11.5bn ✓. That was up 26.2% ✓ on the four quarters before, a little slower than the 27.7% ✓ of FY2025. Operating margin rose to 18.9% ✓. Free cash flow was $1.9bn ✓ in FY2025 and $2.9bn ✓ in the four quarters to June 2026. In the third quarter of 2026, sales rose 61% from a year earlier, or 55% organic, and organic orders grew more than 100% 25. In October 2026 Vertiv raised its full-year 2026 guidance to sales of $14.45 billion to $14.85 billion 25.
📝 The report card
Vertiv earns top marks for growth and a good mark for cash, middling marks for profit and steadiness, and a weak mark for its balance sheet. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Vertiv (orange) and its 3 peers land; further right is better.
Growth
Vertiv's sales grew 21.6% ✓ a year over its last three fiscal years, which earns an A ✓ on the fixed scale. Trane Technologies grew 10.1% ✓ a year, a B ✓, and Eaton 9.8% ✓, a C ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Vertiv kept 16.2% ✓ of sales as operating profit, which earns a C ✓. Eaton kept 18.2% ✓, also a C ✓. The three years include FY2023, when Vertiv's operating margin was only 12.7% ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Vertiv turned 15.2% ✓ of sales into free cash flow, just over the 15% line for a B ✓. That was the highest of the four companies; Eaton came next at 13.2% ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
Vertiv owed more in borrowings than it held in cash and investments (leases not counted). At the end of FY2025, the gap equalled -11.6% ✓ of a year's sales, below the -10% line for a C, so it earns a D ✓. Eaton's gap was bigger, at -29.0% ✓. On 30 June 2026, Vertiv's cash and investments of $2.8bn ✓ nearly matched its borrowings of $2.9bn ✓. That was before Vertiv paid $1.45 billion in cash upfront for UtilityInnovation Group on 26 October 2026 1112.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Vertiv's yearly sales growth swings with a standard deviation of 9.6% ✓, which earns a C ✓. Growth ran from -1.4% ✓ in FY2020 to 27.7% ✓ in FY2025. Trane Technologies is steadier at 5.8% ✓, a B ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Vertiv compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
7 years at a glance
Where the cash goes
From FY2019 to FY2025, Vertiv spent $0.7bn ✓ on buybacks and dividends, out of $3.9bn ✓ of free cash flow. Most of that payout was $0.6bn ✓ of buybacks in FY2024. In FY2025, payouts were just 4% ✓ of free cash flow. In September 2026, the board declared a quarterly dividend of $0.0625 a share 28.
🧮Ratios 101: what are Vertiv's key financial ratios?
Ratios shrink Vertiv's numbers into easy comparisons, and many of them show how far the company has come since FY2020. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Vertiv's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 Vertiv kept 36.3% ✓ of sales as gross profit, up from 33.7% ✓ in FY2020 and close to the 37.0% ✓ peer median.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Vertiv's 17.9% ✓ is far above its 4.9% ✓ of FY2020, but just below the 18.6% ✓ peer median.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Vertiv keeps 13.0% ✓ of sales as final profit, after a loss of -7.5% ✓ in FY2020. The peer median is 13.9% ✓.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 33.8% ✓ is well above the 25.5% ✓ peer median. In FY2020, a loss pushed it down to -63.9% ✓.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 10.9% ✓ beats the 9.9% ✓ peer median and the -6.5% ✓ of FY2020.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Vertiv's sales are 0.8x ✓ the value of everything it owns, a little above the 0.7x ✓ peer median and just below 0.9x ✓ in FY2020.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Vertiv holds about 82 ✓ days of stock, up from 56 ✓ days in FY2020 and between Johnson Controls at 44 ✓ days and Eaton at 101 ✓ days.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Vertiv's 1.5x ✓ means it had $6.8bn ✓ of current assets to cover $4.4bn ✓ of bills due within a year, above the 1.3x ✓ peer median.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Debt to equity fell to 0.7x ✓ from 4.2x ✓ in FY2020, but is still above the 0.5x ✓ peer median.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covered interest costs 21.3x ✓ in FY2025, up from just 1.4x ✓ in FY2020 and above the 17.5x ✓ peer median.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Vertiv turned profit into cash at 1.4x ✓, above the 0.9x ✓ peer median and its own 1.1x ✓ in FY2021.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 Vertiv spends 4.3% ✓ of sales on R&D, well above the 1.6% ✓ peer median, though down from 5.2% ✓ in FY2020.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is 0.4% ✓ of sales, close to the 0.5% ✓ peer median and up from 0.3% ✓ in FY2020.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Vertiv returned just 5.0% ✓ of FY2025 profit to shareholders, far below the 85.3% ✓ peer median.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Vertiv's competitors?
Vertiv's three page peers all meet it in data centers. Eaton sells rival power equipment for data centers 11314. Trane Technologies and Johnson Controls both sell cooling to data centers 115 116.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Vertiv (VRT, FY2025) | Power and cooling equipment, racks and services, mainly for data centers, networks and industrial sites 1 1 | $10.2bn | 21.6% | 17.9% | 18.5% |
| Eaton (ETN, FY2025) | Power equipment for data centers; Eaton added data-center cooling by buying Boyd Thermal in March 2026 11314 | $27.4bn | 9.8% | 19.0% | 12.9% |
| Trane Technologies (TT, FY2025) | Data center HVAC systems and liquid cooling 115 | $21.3bn | 10.1% | 18.6% | 13.2% |
| Johnson Controls (JCI, FY2025) | Data-center cooling, where Johnson Controls says AI has raised demand 116 | $23.6bn | 4.6% | 9.7% | 9.0% |
Vertiv names Schneider Electric, Eaton, Legrand and Huawei as large global rivals, and Delta Electronics, Stulz, Johnson Controls and Socomec as niche rivals 1. It says most competitors focus on one offering or one region 1.
🧭Vertiv SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Vertiv's order backlog was $15.0 billion at the end of 2025, up from $7.2 billion a year earlier 5.
- It runs more than 300 service centers with about 5,000 field service engineers 5.
- Sales grew 21.6% ✓ a year over the last three fiscal years, an A ✓ on our report card.
- Its roots go back to 1946, and Liebert, set up in 1965, was the industry's first maker of computer room air conditioning 2.
🩹 Weaknesses
- At the end of FY2025, Vertiv's net cash (cash and investments minus borrowings) was -11.6% ✓ of a year's sales, a D ✓.
- Vertiv says large data-center and network customers can use their buying power to demand better terms and late-delivery penalties 18.
- Over the last three years combined, Vertiv's operating margin of 16.2% ✓ trailed Eaton's 18.2% ✓.
- Vertiv says enterprise data-center growth has generally been flat for the past three years 1.
🚀 Opportunities
- Vertiv says AI workloads mix air and liquid cooling, which opens room for new products from the chip to heat rejection 6.
- Vertiv says its partnership with NVIDIA supports the development of power and cooling infrastructure for next-generation AI 6.
- Vertiv closed its purchase of UtilityInnovation Group on 26 October 2026 1112. It said the deal extends its reach to the grid connection and on-site power, as grid limits slow AI data-center builds 11.
- In June 2026 Vertiv completed its purchase of ThermoKey, an Italian maker of dry coolers and other heat-exchange gear 19.
⚠️ Threats
- Vertiv says shortages or price rises in steel, copper, aluminum and electronic parts, and new tariffs, could raise its costs 18.
- Eaton completed its purchase of Boyd Thermal in March 2026, adding liquid cooling for data centers 2021.
- Trane Technologies bought Stellar Energy, which supplies data center cooling, in February 2026 22.
- Vertiv says orders in its backlog can be cancelled or rescheduled 5.
🏰Does Vertiv have a moat?
Why 3?
Vertiv works with many customers from planning through servicing, and says some relationships span decades 1. Its services cover maintenance, remote monitoring and spare parts 1, from more than 300 service centers 5. But big data-center customers can use their buying power to demand better terms 18.
Why 1?
Buyers choose on reliability, quality, price, service and relationships 1. In our view, one more customer does not make the equipment better for other customers.
Why 3?
Vertiv has sites in more than 40 countries 2. It says it has more than doubled its factory capacity for switchgear, busbar and integrated power since late 2021 6. Its backlog was $15.0 billion at the end of 2025 5. But Vertiv names large global competitors such as Schneider Electric and Eaton 1.
Why 2?
Vertiv had about 3,000 registered patents at the end of 2025, and says it is not materially dependent on any particular outside intellectual property 5. It spent $441.7 million on engineering, research and development in 2025 5. Vertiv says its NVIDIA partnership supports the development of power and cooling infrastructure for next-generation AI 6.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Vertiv; grey dots are peers).
🔭What should you watch next?
Fourth-quarter 2026 sales
Vertiv guided to fourth-quarter sales of $4.31 billion to $4.51 billion, or 49% to 51% organic growth 25. Figures on this page run to FY2025 and the four quarters to 30 June 2026.
Full-year 2026 guidance
In October 2026 Vertiv raised its full-year guidance to sales of $14.45 billion to $14.85 billion, or 37% to 39% organic growth 25.
Spending on new capacity
Vertiv expects 2026 capital spending of about 4.0% of revenue as it invests to meet demand 25.
PurgeRite extra payment
Vertiv may pay up to $250 million more for PurgeRite, depending on its results for the year ending 31 December 2026 12.
📚Learn the words
❓Frequently asked questions about Vertiv
How does Vertiv make money?
Vertiv makes most of its money selling equipment. In FY2025, products brought in $8.4bn ✓ and services $1.8bn ✓. Out of every hundred dollars of sales, it kept about $13 ✓ as profit.
Is Vertiv part of Emerson?
No. Emerson sold the business in 2016, and Vertiv has been a listed company since 2020 232. Emerson had bought Liebert in 1987 and in 2000 grouped it with other businesses as Emerson Network Power 2.
What does Vertiv have to do with AI?
Vertiv's products include power and cooling equipment 1, and it sells mainly to data centers 1. It says AI workloads mix air and liquid cooling, which opens room for new products 6. It also says its NVIDIA partnership supports power and cooling infrastructure for next-generation AI 6.
How fast is Vertiv growing?
Vertiv is growing quickly. Sales rose 27.7% ✓ in FY2025 and 26.2% ✓ in the four quarters to June 2026. In the third quarter of 2026, sales rose 61% from a year earlier 25.
Who are Vertiv's biggest competitors?
Vertiv names Schneider Electric, Eaton, Legrand and Huawei as its large global competitors 1. Trane Technologies and Johnson Controls also sell cooling to data centers 115 116.
Who runs Vertiv?
Giordano Albertazzi has been chief executive since 1 January 2023 26. David Cote, a former Honeywell boss, has been executive chairman since 7 February 2020 26. Craig Chamberlin became chief financial officer on 10 November 2025 27.
Does Vertiv pay a dividend?
Yes, a small one. On 2 September 2026 its board declared a quarterly dividend of $0.0625 a share 28. Vertiv paid $0.1bn ✓ in dividends in FY2025.
Where does Vertiv make most of its sales?
The United States is Vertiv's biggest market, at 59% ✓ of sales in FY2025. Asia was next at 20% ✓, then Europe at 14% ✓.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [7] [9] [8] [17].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. About how much of Vertiv's FY2025 sales came from products rather than services?
2. Which company owned Vertiv's business before 2016?
3. What was Liebert the industry's first maker of, back in 1965?
4. How big was Vertiv's order backlog at the end of 2025?
5. On site emergency calls, how often do Vertiv's service teams fix the problem on the first visit?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials are taken from SEC filings (10-K and 10-Q) as tagged in XBRL. Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Vertiv Holdings Co Form 10-K for fiscal year 2025 — Item 1 offerings (products, services and spares), brands, customers and end markets, sales channels, competition (accessed 2026-10-31)
- Vertiv Holdings Co Form 10-K for fiscal year 2025 — Cover (incorporation, fiscal year end); Item 1 overview, company history and listing; corporate information (headquarters) (accessed 2026-10-31)
- Vertiv (VRT) Form 10-K for fiscal year 2025, filed 2026-02-13 — revenue and cost of sales by product, segment and geography (accessed 2026-10-28)
- Vertiv Holdings Co Form 8-K Exhibit 99.1, April 27, 2026: acquisition of Strategic Thermal Labs — Strategic Thermal Labs acquisition (accessed 2026-10-31)
- Vertiv Holdings Co Form 10-K for fiscal year 2025 — Item 1 backlog, customer service and support, engineering and R&D, human capital, intellectual property (accessed 2026-10-31)
- Vertiv Holdings Co Form 10-K for fiscal year 2025 — Item 7 trends: capacity expansion, acquisitions (Great Lakes, PurgeRite), AI, thermal portfolio, partnerships; Note 2 acquisitions (accessed 2026-10-31)
- SEC EDGAR companyfacts: Vertiv (VRT) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Trane Technologies plc (TT) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Eaton Corp plc (ETN) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Vertiv (VRT) — balance sheet at 2026-06-30 (accessed 2026-10-28)
- Vertiv Holdings Co Form 8-K Exhibit 99.1, October 27, 2026: completed acquisition of UtilityInnovation Group — UtilityInnovation Group completion, upfront cash and earnout (accessed 2026-10-31)
- Vertiv Holdings Co Form 10-Q for the quarter ended September 30, 2026 — Note 3 acquisitions: PurgeRite earnout, 2026 acquisitions, UtilityInnovation Group closing (accessed 2026-10-31)
- Eaton Corporation plc Form 10-K for fiscal year 2025 — Item 1: Eaton's markets, including data centers; Electrical sector (accessed 2026-10-31)
- Eaton Corporation plc Form 10-Q for the quarter ended June 30, 2026 — Acquisition of Boyd Thermal (completed March 2026) (accessed 2026-10-31)
- Trane Technologies plc Form 10-K for fiscal year 2025 — Item 1 products and services, including data center HVAC and liquid cooling (accessed 2026-10-31)
- Johnson Controls International plc Form 10-K for fiscal year 2025 — Item 1 segments and Item 7 trends: data center customers and cooling demand (accessed 2026-10-31)
- SEC EDGAR companyfacts: Johnson Controls International plc (JCI) — annual 10-K facts (accessed 2026-10-28)
- Vertiv Holdings Co Form 10-K for fiscal year 2025 — Item 1A risk factors: large customers, supply chain, tariffs (accessed 2026-10-31)
- Vertiv Holdings Co Form 8-K Exhibit 99.1, June 12, 2026: completed acquisition of ThermoKey — ThermoKey acquisition (accessed 2026-10-31)
- Eaton Corporation plc Form 10-K for fiscal year 2025 — Item 1 business and Item 2 properties: founding, markets, acquisitions, competition by segment, customer concentration, intellectual property, employees, plants (accessed 2026-10-31)
- Eaton Corporation plc Form 10-Q for the quarter ended June 30, 2026 — Boyd Thermal acquisition closing, total backlog at June 30, 2026 (accessed 2026-10-31)
- Trane Technologies plc Form 10-Q for the quarter ended September 30, 2026 — 2026 acquisitions: Stellar Energy, LiquidStack (accessed 2026-10-31)
- Emerson Electric Co. Form 8-K Exhibit 99.1, December 1, 2016: Emerson completes sale of Network Power — Sale of Network Power by Emerson and rebranding as Vertiv (2016) (accessed 2026-10-31)
- SEC EDGAR companyfacts: Vertiv (VRT) — quarterly 10-Q/10-K facts (accessed 2026-10-28)
- Vertiv Holdings Co Form 8-K Exhibit 99.1, October 28, 2026: third quarter 2026 results and guidance — Third quarter 2026 growth, orders, liquidity; fourth quarter and full year 2026 guidance; capital spending plan (accessed 2026-10-31)
- Vertiv Holdings Co definitive proxy statement (DEF 14A), April 24, 2026 — Director biographies: chief executive officer and executive chairman (accessed 2026-10-31)
- Vertiv Holdings Co Form 8-K Exhibit 99.1, October 13, 2025: new chief financial officer — Chief financial officer appointment (accessed 2026-10-31)
- Vertiv Holdings Co Form 8-K Exhibit 99.1, September 2, 2026: quarterly dividend — Quarterly dividend per share (accessed 2026-10-31)