nVent Electric: What The Market Is Missing About The Liquid Cooling Supercycle

nVent Electric plc is benefiting from surging data center demand, with infrastructure now 45% of sales and expected to exceed 50% by FY26. NVT's Systems Protection vertical, anchored by liquid cooling, is driving +34% growth and maintains margins above 20%, supported by hyperscaler CapEx tailwinds. I assign a Buy rating, seeing Scenario C (18% revenue growth, 22% margin, 22x EV/EBITDA) as most probable, with current valuation offering further upside.