Forgent Power Solutions, Inc

forgentpower.com

What Do They Do?

Manufactures electrical distribution equipment and integrated power systems for data centers, utilities, and industrial facilities.

How Do They Make Money?

Customers pay for manufactured products and services. Most product sales are paid for as work progresses; some product sales are paid when shipped or delivered, while services are paid for as provided or under a stand-ready arrangement.

revenue

Segment	Share	How money arrives
Custom products	70%
Powertrain solutions	25%
Standard products Sold outright	3.0%	Sold outright
Services Recurring	2.1%	Recurring

Who Are Their Customers?

Technology, power, utility and industrial companies buy directly. OEMs and integrators incorporate products into systems they sell, while contractors and electrical distributors also buy products.

Customers above 10% of revenue, FY2026

of revenue from one customer

FY2025: no customer at 10% or more of revenue

Do Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2026, but spent more cash than it brought in: free cash flow was −$6.8M.

Operating income, FY2026

13% of revenue

▲ +153% vs FY2025 ($72.2M, 10%)

Net income, FY2026

6% of revenue

▲ +439% vs FY2025 ($15.2M, 2%)

Free cash flow, FY2026

0% of revenue

▼ −83% (Loss) vs FY2025 (−$39.1M, −5%)

How Are They Changing?

Revenue over time

Custom products Powertrain solutions Standard products Services

$2B$1B$0

FY2025 FY2026

Who Do They Compete With?

Competes with Vertiv Holdings, Hubbell, Schneider Electric, Eaton, Mission Critical Group, Hitachi Energy, GE-Prolec Transformers, nVent Electric, and WEG

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