Forgent Power Solutions, Inc. (NYSE: FPS) reported record fourth-quarter and full-year fiscal 2026 results, with revenue of $461.67 million, up 94.3% year over year, and adjusted earnings per share of $0.25 versus a $0.24 consensus estimate. The company also reported $1.5 billion in quarterly bookings, a 3.3x book-to-bill ratio, and a backlog that reached about $3 billion. Forgent forecast fiscal 2027 revenue of $2.4 billion to $2.6 billion and adjusted EPS of $1.26 to $1.40, above Wall Street estimates of $2.1 billion and $1.14, respectively. First-quarter fiscal 2027 revenue guidance was $445 million to $465 million, compared with consensus of $456.7 million. The company began fiscal 2027 with initial direct purchase orders and master service agreements from Frontier AI Labs and multiple hyperscale cloud providers. TD Cowen raised its price target to $76 from $73 while maintaining a Buy rating, and KeyBanc reaffirmed its Overweight rating with a $60 target; Oppenheimer maintained an Outperform rating and $60 objective. The shares were reported at different points at $33.90, up 8.10%, and at $31.45 after the earnings release. The stock trades at a reported P/E ratio of 209.69, while its net margin is 2.17%, highlighting valuation risk despite strong growth and positive analyst sentiment.