Forgent Power Solutions(NYSE) FPS

Forgent Power Solutions makes heavy-duty equipment that moves electricity safely through data centers and power grids. Its products help big tech companies and utilities keep their systems running without power failures. These essential tools act like a complex network that distributes energy to keep critical machines working.

The Power Distribution Menu

• Custom Products: Engineered-to-order equipment designed for unique projects like utility substations; accounted for 70% of revenue in fiscal 2026.
• Powertrain Solutions: Integrated systems of components that move power from the source to specific equipment; generated 25% of revenue in fiscal 2026.
• Standard Products: Mass-produced electrical parts using common designs for simple applications; made up 3% of revenue in fiscal 2026.
• Services: Technical help including maintenance, testing, and modernizing old systems; contributed 2% of revenue in fiscal 2026.

Building Out the Footprint

• Completed a major expansion plan in fiscal 2026 that added 1.8 million square feet of factory space.
• Opened five new manufacturing campuses across the United States and Mexico to meet rising customer demand.
• Launched an initial public offering on Feb. 6, 2026, which raised $491.8 million in net proceeds.
• Finished three additional stock sales between March and July 2026 to fund ongoing business growth.

Faster Leads and More Control

Forgent builds its own critical parts like transformers and switchgear to ensure faster delivery than competitors. This vertical integration reduces supply chain problems and allows the company to customize products quickly for technology clients.

The Fiscal Year in Review

• Revenues rose to $1.4 billion for the fiscal year ended June 30, 2026, up 89% year over year.
• Net income reached $106.0 million in fiscal year 2026, representing a 508% increase year over year.
• Adjusted EBITDA was $322.9 million for the year ended June 30, 2026, up 91% year over year.
• Order backlog grew to $3.0 billion as of June 30, 2026, an increase of 256% compared to the prior year.
• Cash from operating activities was $109.1 million for the year ended June 30, 2026.

Bottom Line

Forgent has grown from its 2023 founding into a key infrastructure provider for the artificial intelligence and energy sectors. Its massive increase in factory space and record order backlog supports a transition into large-scale electrical manufacturing.