Forgent Power Solutions, Inc. (FPS) financials

NYSE · Industrials · Electrical Equipment & Parts · 3,000 employees · CEO Gary John Niederpruem

Price: $25.81 -8.96%
Market cap: $7.86B
Enterprise value: $8.44B
Last report: Q4 '25 filed 2026-09-15

Revenue (TTM)$1.42B– vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)14.5%– vs a year agoOperating income $205M

Net income (TTM)$81.8M– vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)-$27M– vs a year agoCapex $116M

Diluted EPS (TTM)$0.28– vs a year agoSum of the last 4 quarters

Net cash-$582M-12.1% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $7.86B
Revenue: $1.42B
Revenue growth: +79%
Profit margin: 5.8%
P/E: 90.8×
P/S: 5.5×
EV / EBITDA: 35.4×
Free cash flow: -$27M
Net income: $81.8M
Revenue estimate: $2.54B
Earnings: –
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-09-15): revenue beat by 7.4%, EPS beat by 4.3%Revenue $462M vs $430M expected (+7.4%); EPS $0.25 vs $0.24 (+4.3%).
Revenue growth accelerating: 94.3% year on yearQ4 '25 revenue $462M, against an average of 83.9% over the four quarters before.
61.3% of pre-tax profit is eaten by non-operating lossesPre-tax income $127M vs operating income $205M (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
Capex 8.2% of revenue$116M invested in the last 4 quarters (– on a year earlier). Free cash flow -$27M = -33.0% of net income.
Diluted share count up 31.9% in a year304M diluted shares in Q4 '25, 231M a year earlier.
Net debt $582MCash + short-term investments $122M, debt incl. leases $704M; a year ago net debt $519M.

Last quarter: Q4 '25

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q4 '25	Year ago	Change
Revenue	$462M	$238M	+94.3%
Gross margin	33.5%	33.5%	-0.1 pp
Operating income	$92.4M	-$27.4M	+437.4%
Operating margin	20.0%	-11.5%	+31.5 pp
Net income	$53.3M	-$23.9M	+322.8%
Diluted EPS	$0.18	-$0.10	+280.0%
Operating cash flow	$50.4M	-$7.21M	+799.8%
Capex	$31.3M	$41M	-23.7%
Free cash flow	$19.1M	-$48.2M	+139.7%
R&D	$0	$0	–
Stock-based compensation	$0	$512K	-100.0%

Reported vs consensus

2026-09-15

	Actual	Consensus	vs consensus
Revenue	$462M	$430M	+7.4%
EPS (as estimated)	$0.25	$0.24	+4.3%

From the report of 2026-09-15 for Q4 '25: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '25

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Reportable Segment	$379M	–	$39.3M	–	10.4%	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $88.9M
Capex: -$116M
Buybacks: $0
Dividends: -$1.44M
Acquisitions: $0
Net debt issued: $67.9M
Stock-based compensation: $560K
Free cash flow: -$27M
Returned to shareholders / FCF: -5.3%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	90.8×	323.8× 2 of 3 years	206.9× – 440.7×
EV / EBITDA	35.4×	201.0×	58.7× – 454.2×
EV / Sales	5.9×	23.5×	11.1× – 45.1×
Price / FCF	-290.9×	–	–
Price / Book	13.9×	20.3×	12.9× – 30.1×
FCF yield	-0.3%	-0.3%	-0.6% – -0.1%
Return on invested capital	9.9%	5.0%	-0.3% – 11.0%
Return on equity	18.4%	5.0%	-3.4% – 14.5%

Analysts

Consensus target $52.60 (+103.8%)
range $36.00 – $63.00 · rating Buy

Strong buy0

Buy7

Hold1

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2027	$2.54B	+79.2%	$1.35	+399.0%	19.2×	6
FY2028	$3.4B	+33.8%	$2.01	+49.4%	12.8×	6
FY2029	$4.43B	+30.2%	$2.96	+47.0%	8.7×	1
FY2030	$5.39B	+21.5%	$4.15	+40.3%	6.2×	1
FY2031	$6.35B	+17.8%	$5.17	+24.6%	5.0×	1

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 209 figures Forgent Power Solutions, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	–	–	–	$9.22M	–	–
	–	–	–	$2.31M	–	–
	–	–	–	$2.16M	–	–
Accounts Payable, Current	$130M	$61.9M	+110.6%	$130M	$61.9M	+110.6%
Accounts Receivable, after Allowance for Credit Loss, Current	$330M	$160M	+106.1%	$330M	$160M	+106.1%
Accounts Receivable, Allowance for Credit Loss	$4.1M	$1.86M	+120.8%	$4.1M	$1.86M	+120.8%
Accounts Receivable, Allowance for Credit Loss, Current	$4.1M	$1.86M	+120.8%	$4.1M	$1.86M	+120.8%
Accounts Receivable, Allowance for Credit Loss, Writeoff	–	–	–	$756K	$534K	+41.6%
Accounts Receivable, before Allowance for Credit Loss, Current	$334M	$162M	+106.2%	$334M	$162M	+106.2%
Accounts Receivable, Credit Loss Expense (Reversal)	$1.45M	$239K	+505.4%	$3M	-$207K	+1,548.8%
Accrued Employee Benefits, Current	$46M	$20.4M	+125.9%	$46M	$20.4M	+125.9%
Accrued Liabilities, Current	$122M	$79.5M	+53.8%	$122M	$79.5M	+53.8%
Accrued Professional Fees, Current	$3.35M	$5.27M	-36.6%	$3.35M	$5.27M	-36.6%
Accrued Sales Commission, Current	$5.42M	$2.82M	+92.1%	$5.42M	$2.82M	+92.1%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$24.4M	$7.35M	+231.6%	$24.4M	$7.35M	+231.6%
Additional Paid in Capital	$485M	–	–	$485M	–	–
Amortization of Debt Issuance Costs and Discounts	$1.3M	$500K	+160.0%	$13M	$2.5M	+420.0%
Amortization of Deferred Charges	$1.31M	$556K	+134.7%	$13M	$2.51M	+417.2%
Amortization of Intangible Assets	$10.9M	$12.9M	-15.5%	$47.9M	$58.7M	-18.4%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	–	–	–	60.9M	–	–
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$1.63M2025-12-31	$412K	+294.9%	$1.78M2025-06-30	–	–
Asset Impairment Charges	–	–	–	$0	$0	–
Assets	$2.23B	$1.54B	+45.2%	$2.23B	$1.54B	+45.2%
Assets, Current	$818M	$445M	+83.8%	$818M	$445M	+83.8%
Billed Contracts Receivable	$232M	$146M	+58.9%	$232M	$146M	+58.9%
Business Acquisition, Pro Forma Net Income (Loss)	–	–	–	-$28.1M2024-06-30	–	–
Business Acquisition, Pro Forma Revenue	–	–	–	$483M2024-06-30	–	–
Business Combination, Contingent Consideration, Liability, Current	$0	$17.2M	-100.0%	$0	$17.2M	-100.0%
Cash and Cash Equivalents, at Carrying Value	$97.5M	$111M	-12.4%	$97.5M	$111M	-12.4%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$122M	$111M	+9.3%	$122M	$111M	+9.3%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$27.9M	-$64M	+143.6%	$10.4M	-$75.1M	+113.8%
Contract with Customer, Liability	$264M	$111M	+137.9%	$264M	$111M	+137.9%
Contract with Customer, Liability, Current	$264M	$111M	+137.9%	$264M	$111M	+137.9%
Contract with Customer, Liability, Revenue Recognized	–	–	–	$105M	$74.6M	+40.3%
Cost of Revenue	$295M	$158M	+86.8%	$922M	$475M	+94.2%
Current Federal Tax Expense (Benefit)	–	–	–	-$1.78M	$17.4M	-110.2%
Current Foreign Tax Expense (Benefit)	–	–	–	$2.11M	$1.14M	+85.8%
Current Income Tax Expense (Benefit)	–	–	–	$6.73M	$21.1M	-68.1%
Current State and Local Tax Expense (Benefit)	–	–	–	$6.4M	$2.58M	+148.3%
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$16.3M	$9.01M	+81.3%	$16.3M	$9.01M	+81.3%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$15.9M	-$14.8M	+207.0%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	$369K	-$556K	+166.4%
Deferred Income Tax Assets, Net	$281M	$0	–	$281M	$0	–
Deferred Income Tax Expense (Benefit)	$11M	-$12.8M	+185.7%	$14.6M	-$15.7M	+193.0%
Deferred Income Tax Liabilities, Net	$0	$63.3M	-100.0%	$0	$63.3M	-100.0%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	-$1.63M	-$331K	-390.9%
Deferred Tax Assets, Gross	$298M	$35.5M	+740.2%	$298M	$35.5M	+740.2%
Deferred Tax Assets, Net	$281M	–	–	$281M	–	–
Deferred Tax Assets, Operating Loss Carryforwards	$187K	$187K	0.0%	$187K	$187K	0.0%
Deferred Tax Assets, Other	$775K	$757K	+2.4%	$775K	$757K	+2.4%
Deferred Tax Assets, Tax Credit Carryforwards, Research	$4.04M	$3.14M	+28.6%	$4.04M	$3.14M	+28.6%
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities	$3.14M	$1.56M	+101.0%	$3.14M	$1.56M	+101.0%
Deferred Tax Liabilities, Gross	$17.3M	$98.8M	-82.4%	$17.3M	$98.8M	-82.4%
Deferred Tax Liabilities, Intangible Assets	$2.53M	$3.13M	-19.1%	$2.53M	$3.13M	-19.1%
Deferred Tax Liabilities, Investments	$0	$82.7M	-100.0%	$0	$82.7M	-100.0%
Deferred Tax Liabilities, Leasing Arrangements	$10.3M	$12.1M	-15.1%	$10.3M	$12.1M	-15.1%
Deferred Tax Liabilities, Net	–	–	–	$63.3M2025-06-30	–	–
Deferred Tax Liabilities, Other	$445K	$199K	+123.6%	$445K	$199K	+123.6%
Deferred Tax Liabilities, Property, Plant and Equipment	$4.06M	$695K	+484.6%	$4.06M	$695K	+484.6%
Defined Contribution Plan, Cost	–	–	–	$2.5M	$1.4M	+78.6%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-K 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31

Data as of 2026-11-02