FPS
Forgent Power Solutions, Inc.

Forgent Power Solutions, Inc.FPS

Industrials · Electrical Equipment & Parts
19.48USD
+6.97%
Nov 08, 2026
FPS overview ready
Engineered Electrical Infrastructure Supplier to AI Data Centers
Forgent is a direct electrical-infrastructure supplier to data centers: it designs and manufactures engineered-to-order transformers, switchgear, switchboards, power distribution units, transfer switches, eHouses and power skids, plus commissioning and aftermarket services.
Primary theme is lagging
Power / Grid is lagging (-16.9pp vs SPY over 21 sessions; 8 of 32 members ahead of SPY).
Price trend is broken
Longer-term context reads new trend, with a near-term setup of extended daily.
The tactical setup reads extended daily, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Fundamentals under pressure
Ev / ebitda is weak.
Primary risk
Exposure to cyclical capital spending in data centers and industrial sectors.
Market Nov 6Filing Jun 30Price action Nov 7Research Oct 2

Conviction Level

PriceAction1.4BusinessPerformance7.0BusinessQuality—Valuation2.5ThemeMomentum1.0Improving — Revenue is growing at a steady pace (+94% year over year). No comparable quarterly EPS is available; net income turned positive at $53.3M from -$2.6M. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Power / GridLagging
vs SPY
−16.9pp
Theme return
−21.9%
Beating SPY
8 of 32
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads new trend, with a near-term setup of extended daily.
The tactical setup reads extended daily, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$5.9B
Avg Volume (60D)
11.0M
60 sessions
Revenue Growth YoY
+88.5%
FY2026 vs FY2025
Gross Margin
+35.0%
Trailing twelve months
Operating Margin
+12.9%
Trailing twelve months
Next Earnings
2026-11-12
P/E
72.1x
EV / EBITDA
25.7x
EV / Sales
4.5x
Market metrics as of Nov 7, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Business Performance

Improving

Revenue is growing at a steady pace (+94% year over year). No comparable quarterly EPS is available; net income turned positive at $53.3M from -$2.6M.

Latest reported: Q4 FY2026, ended Jun 30
Revenue growthGrowing
+94%
$462M in Q4 FY2026 · YoY
YoY growth, last 4 quarters
  1. n/a
  2. +69%
  3. +103%
  4. +94%
Earnings growthTurned profitable
$53.3M
Net income $53.3M. No comparable quarterly EPS is available.
Not enough comparable diluted EPS quarters for a YoY sequence.
Operating marginSwinging
19.9%
+16.4 pp YoY · gross margin 36.1% (+2.6 pp)

Business Quality

Not assessed

Not assessed yet — too few fiscal years of filings are on record.

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads expensive.
Forgent Power Solutions, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at 33.5x EBITDA and 5.9x revenue, which require sustained delivery to be justified.

Company Research

Thesis
Forgent is a direct electrical-infrastructure supplier to data centers: it designs and manufactures engineered-to-order transformers, switchgear, switchboards, power distribution units, transfer switches, eHouses and power skids, plus commissioning and aftermarket services.
Opportunity
High opportunity
Hyperscaler, cloud and colocation spending on the electrical-distribution, power-conditioning and thermal systems required to deploy high-density AI data-center capacity.
Key risk
Exposure to cyclical capital spending in data centers and industrial sectors.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Electrical Equipment & Parts
What they do

Forgent Power Solutions designs and manufactures electrical distribution equipment and provides related services for data centers, power grids, and industrial facilities. It operates by delivering engineered-to-order products alongside maintenance, testing, repair, and commissioning services.

How it earns

Revenue is generated primarily through project-based sales of electrical equipment and aftermarket service contracts.

Products & services
Dry type transformers
Liquid filled transformers
Switchgear
Switchboards
Panelboards
Remote power panels
Generator connection cabinets
Tap boxes
Automatic transfer switches
Gear eHouses
Power skids
Power distribution units
UPS eHouses
Maintenance, testing, repair, modernization, start-up and commissioning services
Aftermarket retrofit services
Customers & end markets
Data centers
Power grid operators
Energy-intensive industrial facilities
Market position

Niche supplier specializing in engineered electrical infrastructure solutions for high-density data centers and industrial power applications.

Demand drivers
Medium cyclicality

Demand is linked to capital expenditure cycles in data centers and industrial facilities, which can fluctuate with broader economic conditions.