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Side-by-side financial comparison of TopBuild Corp (BLD) and Vertiv Holdings Co (VRT). Click either name above to swap in a different company.
Vertiv Holdings Co is the larger business by last-quarter revenue ($2.6B vs $1.5B, roughly 1.8× TopBuild Corp). Vertiv Holdings Co runs the higher net margin — 14.7% vs 7.0%, a 7.7% gap on every dollar of revenue. On growth, Vertiv Holdings Co posted the faster year-over-year revenue change (30.1% vs 13.2%). Vertiv Holdings Co produced more free cash flow last quarter ($652.8M vs $159.4M). Over the past eight quarters, Vertiv Holdings Co's revenue compounded faster (16.5% CAGR vs 7.8%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments.
BLD vs VRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $2.6B |
| Net Profit | $104.5M | $390.1M |
| Gross Margin | 27.2% | 37.7% |
| Operating Margin | 12.1% | — |
| Net Margin | 7.0% | 14.7% |
| Revenue YoY | 13.2% | 30.1% |
| Net Profit YoY | -30.6% | — |
| EPS (diluted) | $3.69 | $0.99 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $2.6B | ||
| Q4 25 | $1.5B | $2.9B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $1.3B | $2.6B | ||
| Q1 25 | $1.2B | $2.0B | ||
| Q4 24 | $1.3B | $2.3B | ||
| Q3 24 | $1.4B | $2.1B | ||
| Q2 24 | $1.4B | $2.0B |
| Q1 26 | — | $390.1M | ||
| Q4 25 | $104.5M | $445.6M | ||
| Q3 25 | $142.2M | $398.5M | ||
| Q2 25 | $151.6M | $324.2M | ||
| Q1 25 | $123.4M | $164.5M | ||
| Q4 24 | $150.5M | $147.0M | ||
| Q3 24 | $169.0M | $176.6M | ||
| Q2 24 | $150.7M | $178.1M |
| Q1 26 | — | 37.7% | ||
| Q4 25 | 27.2% | 38.9% | ||
| Q3 25 | 30.1% | 37.8% | ||
| Q2 25 | 30.4% | 34.0% | ||
| Q1 25 | 28.5% | 33.7% | ||
| Q4 24 | 29.9% | 37.1% | ||
| Q3 24 | 30.7% | 36.5% | ||
| Q2 24 | 31.0% | 38.0% |
| Q1 26 | — | — | ||
| Q4 25 | 12.1% | 20.1% | ||
| Q3 25 | 15.4% | 19.3% | ||
| Q2 25 | 16.9% | 16.8% | ||
| Q1 25 | 14.4% | 14.3% | ||
| Q4 24 | 16.6% | 19.5% | ||
| Q3 24 | 17.8% | 17.9% | ||
| Q2 24 | 15.4% | 17.2% |
| Q1 26 | — | 14.7% | ||
| Q4 25 | 7.0% | 15.5% | ||
| Q3 25 | 10.2% | 14.9% | ||
| Q2 25 | 11.7% | 12.3% | ||
| Q1 25 | 10.0% | 8.1% | ||
| Q4 24 | 11.5% | 6.3% | ||
| Q3 24 | 12.3% | 8.5% | ||
| Q2 24 | 11.0% | 9.1% |
| Q1 26 | — | $0.99 | ||
| Q4 25 | $3.69 | $1.14 | ||
| Q3 25 | $5.04 | $1.02 | ||
| Q2 25 | $5.32 | $0.83 | ||
| Q1 25 | $4.23 | $0.42 | ||
| Q4 24 | $5.07 | $0.38 | ||
| Q3 24 | $5.65 | $0.46 | ||
| Q2 24 | $4.78 | $0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $184.7M | $2.5B |
| Total DebtLower is stronger | $2.8B | $0 |
| Stockholders' EquityBook value | $2.3B | $4.2B |
| Total Assets | $6.6B | $13.4B |
| Debt / EquityLower = less leverage | 1.23× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.5B | ||
| Q4 25 | $184.7M | $1.7B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $842.5M | $1.6B | ||
| Q1 25 | $308.8M | $1.5B | ||
| Q4 24 | $400.3M | $1.2B | ||
| Q3 24 | $257.3M | $908.7M | ||
| Q2 24 | $463.2M | $579.7M |
| Q1 26 | — | $0 | ||
| Q4 25 | $2.8B | $2.9B | ||
| Q3 25 | $2.9B | $2.9B | ||
| Q2 25 | $1.9B | $2.9B | ||
| Q1 25 | $1.4B | $2.9B | ||
| Q4 24 | $1.4B | $2.9B | ||
| Q3 24 | $1.4B | $2.9B | ||
| Q2 24 | $1.4B | $2.9B |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $2.3B | $3.9B | ||
| Q3 25 | $2.2B | $3.5B | ||
| Q2 25 | $2.1B | $3.1B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $2.1B | $1.8B | ||
| Q2 24 | $2.4B | $1.5B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $6.6B | $12.2B | ||
| Q3 25 | $6.4B | $10.8B | ||
| Q2 25 | $5.1B | $10.4B | ||
| Q1 25 | $4.6B | $9.5B | ||
| Q4 24 | $4.7B | $9.1B | ||
| Q3 24 | $4.7B | $8.9B | ||
| Q2 24 | $4.9B | $8.1B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.23× | 0.74× | ||
| Q3 25 | 1.29× | 0.83× | ||
| Q2 25 | 0.88× | 0.93× | ||
| Q1 25 | 0.65× | 1.10× | ||
| Q4 24 | 0.62× | 1.20× | ||
| Q3 24 | 0.66× | 1.62× | ||
| Q2 24 | 0.59× | 1.91× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $176.7M | — |
| Free Cash FlowOCF − Capex | $159.4M | $652.8M |
| FCF MarginFCF / Revenue | 10.7% | 24.6% |
| Capex IntensityCapex / Revenue | 1.2% | 4.2% |
| Cash ConversionOCF / Net Profit | 1.69× | — |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | $2.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $176.7M | $978.9M | ||
| Q3 25 | $233.3M | $508.7M | ||
| Q2 25 | $193.7M | $322.9M | ||
| Q1 25 | $152.6M | $303.3M | ||
| Q4 24 | $266.2M | $425.2M | ||
| Q3 24 | $240.7M | $378.2M | ||
| Q2 24 | $90.4M | $378.4M |
| Q1 26 | — | $652.8M | ||
| Q4 25 | $159.4M | $885.6M | ||
| Q3 25 | $216.2M | $463.5M | ||
| Q2 25 | $182.2M | $277.9M | ||
| Q1 25 | $139.2M | $266.8M | ||
| Q4 24 | $253.7M | $364.5M | ||
| Q3 24 | $219.8M | $341.8M | ||
| Q2 24 | $74.3M | $344.3M |
| Q1 26 | — | 24.6% | ||
| Q4 25 | 10.7% | 30.8% | ||
| Q3 25 | 15.5% | 17.3% | ||
| Q2 25 | 14.0% | 10.5% | ||
| Q1 25 | 11.3% | 13.1% | ||
| Q4 24 | 19.3% | 15.5% | ||
| Q3 24 | 16.0% | 16.5% | ||
| Q2 24 | 5.4% | 17.6% |
| Q1 26 | — | 4.2% | ||
| Q4 25 | 1.2% | 3.2% | ||
| Q3 25 | 1.2% | 1.7% | ||
| Q2 25 | 0.9% | 1.7% | ||
| Q1 25 | 1.1% | 1.8% | ||
| Q4 24 | 1.0% | 2.6% | ||
| Q3 24 | 1.5% | 1.8% | ||
| Q2 24 | 1.2% | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.69× | 2.20× | ||
| Q3 25 | 1.64× | 1.28× | ||
| Q2 25 | 1.28× | 1.00× | ||
| Q1 25 | 1.24× | 1.84× | ||
| Q4 24 | 1.77× | 2.89× | ||
| Q3 24 | 1.42× | 2.14× | ||
| Q2 24 | 0.60× | 2.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
VRT
Segment breakdown not available.
