conversion closes · value held
conversion gate trips
Data-center capex to C&I margin and multiple, and the gates that compress both
large-MW genset packaging
switchgear · enclosures
C&I segment · data-center power substrate
data-center capex
hyperscaler build-out
C&I backlog
hyperscale demand locked in
C&I revenue
growth · mix · price up
EBITDA margin
expands
valuation multiple
forward re-rate
conversion gates
order timing slips
backlog fails to convert
tariff refund reverses
margin & multiple
both compress