Forgent Power Solutions Inc. Class A Common Stock (FPS) : juste valeur

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Forgent Power Solutions makes electrical infrastructure for data centers and other power-intensive sites, including switchgear, transformers and power distribution equipment that sits between the utility grid and the server racks. The structural tailwind is hard to ignore: AI and cloud buildouts are pulling forward demand for exactly this equipment, and lead times on large electrical gear have stretched, which favors suppliers with capacity already in place. Revenue grew 94.3% over the latest year, and a 35.0% gross margin with a 19.9% operating margin suggests that growth is coming with pricing power rather than being bought. The stock trades at 32.6 times forward earnings against 107.9 times trailing, so the market is pricing in a steep earnings ramp that the next few quarters must actually deliver. A 17.0% return on equity is respectable but not yet exceptional for a business at this growth rate, and with a $10.3B market cap and no index membership, the name is worth a closer look at capacity additions, backlog conversion and whether margins hold as volumes scale.