Forgent Power (FPS): 6-month data center grids & the $200M insider tax drain

Forgent Power Solutions' Q3 2026 print proves that speed is the ultimate currency in the AI infrastructure boom, but rapid scaling comes with a hidden corporate price tag.In ~10 minutes:• How 6-month turnaround guarantees are capturing massive $100M+ data center whales.• The strategic shift to bundled "Powertrain" systems (revenue up 113% QoQ).• Why a newly crystallized $207M insider tax liability will quietly drain future cash.• The looming end of a $205M factory capex cycle and its impact on 2027 leverage.Forgent is growing three to five times faster than the underlying electrical grid market. With an eye-watering 2.3x book-to-bill ratio driving the backlog to nearly $2 billion, demand is not the bottleneck—physical manufacturing capacity is. We break down the temporary gross margin drags from under-absorbed overhead, management's aggressive Q4 margin hike to ~25%, and why their post-IPO Tax Receivable Agreement is an inescapable drag on an otherwise bulletproof execution story.Forgent Power Solutions (FPS) | Q3 FY2026AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.