A Business at a Glance
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ARGAN INC
AGX
$8.0B
Mkt Cap
$568.92
-5.54%
ARGAN INC (AGX) has a current P/E ratio of 66.9, compared to its historical median P/E of 15.6. The stock is currently considered Expensive based on its historical valuation range.
ARGAN INC (AGX) has a 5-year average return on invested capital (ROIC) of 59.2%. This indicates strong capital allocation and a potential competitive advantage.
ARGAN INC (AGX) has a market capitalization of $8.0B. It is classified as a mid-cap stock.
Yes, ARGAN INC (AGX) pays a dividend with a trailing twelve-month yield of 0.30%. The company also returns capital through share buybacks, with a buyback yield of 0.12%.
Based on historical P/E analysis, ARGAN INC (AGX) appears expensive. The current P/E of 66.9 is 327% above its historical median of 15.6. The estimated fair value CAGR (P/E method) is 23.5%.
ARGAN INC (AGX) operates in the Construction - Special Trade Contractors industry, within the Industrials sector.
ARGAN INC (AGX) reported annual revenue of $945 million in its most recent fiscal year, based on SEC EDGAR filings.
Argan, Inc. (“Argan”) is primarily a construction firm that conducts operations through its wholly owned subsidiaries, Gemma Power Systems, LLC and affiliates (“GPS”), Atlantic Projects Company Limited and affiliates (“APC”), The Roberts Company, Inc. (“TRC”) and Southern Maryland Cable, Inc. (“SMC”) (together referred to as the “Company,” “we,” “us,” or “our”). GPS and APC constitute our power industry services reportable segment, delivering a comprehensive suite of engineering, procurement, construction, commissioning, maintenance, project development and technical consulting services to the power generation market, including the renewable energy sector. The customers include primarily independent power project owners, public utilities, power plant heavy equipment suppliers and other commercial firms with significant power requirements. Projects are located in the United States (the “U.S.”), the Republic of Ireland (“Ireland”) and the United Kingdom (the “U.K.”).
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 945M | 945M | 874M | 573M | 455M | 509M |
| Net Income | 138M | 138M | 85M | 32M | 33M | 38M |
| EPS | $9.74 | $9.74 | $6.15 | $2.39 | $2.33 | $2.40 |
| Free Cash Flow | 411M | 411M | 161M | 114M | -33M | 27M |
| ROIC | 94.2% | 130.3% | 92.0% | 52.8% | 10.4% | 10.4% |
| Gross Margin | 20.5% | 20.5% | 16.1% | 14.1% | 19.0% | 19.6% |
| Debt/Equity | 0.00 | 1.57 | 1.38 | 1.06 | 0.74 | 0.70 |
| Dividends/Share | $1.72 | $1.75 | $1.35 | $1.10 | $1.00 | $1.00 |
| Operating Income | 135M | 135M | 88M | 36M | 42M | 45M |
| Operating Margin | 14.3% | 14.3% | 10.1% | 6.4% | 9.2% | 8.7% |
| ROE | 29.8% | 33.8% | 26.6% | 11.3% | 10.9% | 11.8% |
| Shares Outstanding | 14M | 14M | 14M | 14M | 14M | 16M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 383M | 413M | 675M | 893M | 482M | 239M | 392M | 509M | 455M | 573M | 874M | 945M | 945M |
| Gross Margin | 21.8% | 24.1% | 21.7% | 16.7% | 17.1% | -2.9% | 15.8% | 19.6% | 19.0% | 14.1% | 16.1% | 20.5% | 20.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 19M | 25M | 32M | 42M | 41M | 44M | 39M | 47M | 45M | 44M | 53M | 59M | 59M |
| EBIT | 64M | 74M | 112M | 107M | 40M | -56M | 23M | 45M | 42M | 36M | 88M | 135M | 135M |
| Op. Margin | 16.7% | 18.0% | 16.6% | 12.0% | 8.3% | -23.4% | 5.9% | 8.7% | 9.2% | 6.4% | 10.1% | 14.3% | 14.3% |
| Net Income | 30M | 36M | 70M | 72M | 52M | -43M | 24M | 38M | 33M | 32M | 85M | 138M | 138M |
| Net Margin | 7.9% | 8.8% | 10.4% | 8.1% | 10.8% | -17.9% | 6.1% | 7.5% | 7.3% | 5.6% | 9.8% | 14.6% | 14.6% |
| Non-Recurring | 0 | 2.0M | 2.0M | 584K | 1.5M | 4.9M | 0 | 7.9M | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 25.3% | 22.6% | 29.8% | 19.2% | 24.1% | -11.6% | 6.9% | 10.4% | 10.4% | 52.8% | 92.0% | 130.3% | 94.2% |
| ROE | 17.8% | 16.6% | 27.6% | 22.2% | 13.8% | -11.6% | 7.2% | 11.8% | 10.9% | 11.3% | 26.6% | 33.8% | 29.8% |
| ROA | 8.5% | 8.9% | 13.3% | 12.1% | 10.2% | -8.9% | 4.4% | 6.6% | 6.3% | 5.9% | 11.9% | 13.6% | 11.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 93M | 259M | 259M | -73M | -112M | 54M | 176M | 28M | -30M | 117M | 168M | 415M | 415M |
| Free Cash Flow | 90M | 256M | 256M | -78M | -121M | 47M | 174M | 27M | -33M | 114M | 161M | 411M | 411M |
| Owner Earnings | 91M | 258M | 253M | -81M | -118M | 47M | 168M | 21M | -38M | 110M | 161M | 405M | 405M |
| CapEx | 2.9M | 3.1M | 2.8M | 4.8M | 8.6M | 7.1M | 1.7M | 1.4M | 3.4M | 2.8M | 6.6M | 3.9M | 3.9M |
| Maint. CapEx | 794K | 1.3M | 3.2M | 3.8M | 4.4M | 4.6M | 4.6M | 4.2M | 3.7M | 2.4M | 2.3M | 2.3M | 2.3M |
| Growth CapEx | 2.1M | 1.8M | 0 | 1.0M | 4.2M | 2.4M | 0 | 0 | 0 | 351K | 4.3M | 1.6M | 1.6M |
| D&A | 794K | 1.3M | 3.2M | 3.8M | 4.4M | 4.6M | 4.6M | 4.2M | 3.7M | 2.4M | 2.3M | 2.3M | 2.3M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | 13.2% | 1.0% | 5.0% | N/A | 2.4% | 3.9% | N/A | 0.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 10M | 10M | 15M | 16M | 16M | 16M | 47M | 16M | 14M | 15M | 18M | 24M | 24M |
| Dividend Yield | N/A | N/A | N/A | 2.0% | 3.0% | 2.8% | 8.1% | 2.4% | 2.8% | 2.7% | 1.5% | N/A | 0.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20M | 68M | 12M | 1.5M | 9.9M | 9.9M |
| Buyback Yield | 0.0% | 0.0% | 0.0% | N/A | N/A | N/A | N/A | 3.5% | 13.2% | 2.1% | 0.1% | 0.0% | 0.1% |
| Stock-Based Comp | 1.5M | 86K | 2.3M | 4.7M | 1.6M | 2.1M | 2.9M | 3.5M | 4.0M | 4.5M | 4.5M | 7.9M | 7.9M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -334M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -339M |
| Cash & Equiv. | 334M | 161M | 167M | 122M | 164M | 167M | 367M | 350M | 174M | 197M | 145M | 339M | 339M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.00 | 0.86 | 1.21 | 0.52 | 0.21 | 0.43 | 0.87 | 0.70 | 0.74 | 1.06 | 1.38 | 1.57 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | 61.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 185M | 219M | 292M | 358M | 395M | 339M | 321M | 326M | 281M | 291M | 352M | 462M | 462M |
| Total Assets | 391M | 410M | 644M | 543M | 477M | 488M | 603M | 554M | 489M | 598M | 836M | 1.2B | 1.2B |
| Total Liabilities | 216M | 188M | 352M | 185M | 82M | 147M | 280M | 228M | 209M | 307M | 484M | 724M | 724M |
| Intangibles | 1.8M | 9.3M | 8.2M | 7.1M | 6.1M | 5.0M | 4.1M | 3.3M | 2.6M | 2.2M | 1.8M | 1.4M | 1.4M |
| Retained Earnings | 74M | 100M | 155M | 211M | 248M | 189M | 166M | 189M | 208M | 226M | 293M | 406M | 406M |
| Working Capital | 149M | 163M | 237M | 302M | 335M | 278M | 270M | 284M | 236M | 245M | 301M | 421M | 421M |
| Current Assets | 364M | 351M | 588M | 485M | 416M | 422M | 546M | 507M | 439M | 547M | 781M | 1.1B | 1.1B |
| Current Liabilities | 215M | 188M | 351M | 183M | 81M | 144M | 276M | 223M | 203M | 302M | 480M | 711M | 711M |
| Per Share Data | |||||||||||||
| EPS | 2.05 | 2.42 | 4.50 | 4.56 | 3.32 | -2.73 | 1.51 | 2.40 | 2.33 | 2.39 | 6.15 | 9.74 | 9.74 |
| Owner EPS | 6.13 | 17.16 | 16.22 | -5.15 | -7.55 | 2.99 | 10.66 | 1.30 | -2.66 | 8.12 | 11.57 | 28.60 | 28.60 |
| Book Value | 12.49 | 14.55 | 18.66 | 22.68 | 25.17 | 21.70 | 20.30 | 20.48 | 19.77 | 21.49 | 25.32 | 32.68 | 32.68 |
| Cash Flow/Share | 6.28 | 17.25 | 16.58 | -4.61 | -7.17 | 3.43 | 11.14 | 1.78 | -2.12 | 8.63 | 12.06 | 29.32 | 9.90 |
| Dividends/Share | 0.70 | 0.70 | 1.00 | 1.00 | 1.00 | 1.00 | 3.00 | 1.00 | 1.00 | 1.10 | 1.35 | 1.75 | 1.72 |
| Shares Out. | 14.9M | 15.0M | 15.6M | 15.8M | 15.7M | 15.6M | 15.8M | 15.9M | 14.2M | 13.5M | 13.9M | 14.1M | 14.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | 8.1 | 10.7 | N/A | 25.7 | 15.2 | 15.6 | 18.2 | 21.7 | N/A | 58.4 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 12.1 | 3.5 | 21.5 | N/A | 5.2 | 11.5 | N/A | 19.6 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 57.2 |
| Price/Book | N/A | N/A | N/A | 1.6 | 1.4 | 1.7 | 1.9 | 1.8 | 1.8 | 2.0 | 5.3 | N/A | 17.4 |
| Price/Sales | N/A | N/A | N/A | 0.9 | 1.1 | 2.3 | 1.5 | 1.3 | 1.1 | 1.0 | 1.4 | N/A | 8.5 |
| FCF Yield | N/A | N/A | N/A | -13.4% | -21.6% | 8.3% | 28.4% | 4.7% | -6.5% | 19.3% | 8.7% | N/A | 5.1% |
| Market Cap | 0 | 0 | 0 | 581M | 559M | 562M | 614M | 580M | 518M | 590M | 1.9B | 0 | 8.0B |
| Avg. Price | 0.00 | 0.00 | 0.00 | 49.82 | 33.12 | 35.72 | 36.87 | 41.79 | 34.56 | 40.69 | 89.53 | 0.00 | 568.92 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 36.78 | 35.68 | 35.94 | 38.84 | 36.40 | 36.46 | 43.56 | 133.29 | 0.00 | 568.92 |
ARGAN INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
ARGAN INC trades at 66.9x trailing earnings, compared to its 15-year median P/E of 15.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 27.9x vs a median of 11.5x. The company's 5-year average ROIC is 59.2% with a gross margin of 17.9%. Total shareholder yield (dividends + buybacks) is 0.4%. At current prices, the estimated annualized return to fair value is +13.3%.
ARGAN INC (AGX) has a net profit margin of 14.6%. This is a healthy margin.
ARGAN INC (AGX) generated $411 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ARGAN INC (AGX) has a debt-to-equity ratio of 1.57. This indicates higher leverage, which may increase financial risk.
ARGAN INC (AGX) reported earnings per share (EPS) of $9.74 in its most recent fiscal year.
ARGAN INC (AGX) has a return on equity (ROE) of 33.8%. This indicates the company generates strong returns for shareholders.
ARGAN INC (AGX) has a 5-year average gross margin of 17.9%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for ARGAN INC (AGX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ARGAN INC (AGX) has a book value per share of $32.68, based on its most recent annual SEC filing.