AGX · Argan Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue | $944.61M | $874.18M | $573.33M | $455.04M | $509.37M | $392.21M |
| Cost of Revenue | $750.93M | $733.19M | $492.50M | $368.68M | $409.64M | $330.14M |
| Gross Profit | $193.68M | $140.99M | $80.83M | $86.36M | $99.73M | $62.07M |
| R&D | - | - | - | - | - | - |
| SG&A | $58.98M | $52.79M | $44.38M | $44.69M | $47.32M | $39.04M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $1.91M | $1.91M | $2.01M | $2.98M | $3.37M | $3.71M |
| Operating Income | $134.70M | $88.19M | $36.46M | $41.67M | $44.51M | $23.03M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $22.73M | $25.75M | $16.57M | $11.30M | $11.36M | $1.07M |
| Net Income | $137.77M | $85.46M | $32.36M | $33.10M | $38.24M | $23.85M |
| EPS - Basic | $10.00 | $6.35 | $2.42 | $2.35 | $2.43 | $1.52 |
| EPS - Diluted | $9.74 | $6.15 | $2.39 | $2.33 | $2.40 | $1.51 |
Balance Sheet
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $339.48M | $145.26M | $197.03M | $173.95M | $350.47M | $366.67M |
| Accounts Receivable | $133.68M | $175.81M | $47.33M | $50.13M | $26.98M | $28.71M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $107.54M | $97.30M | $39.48M | $56.38M | $41.82M | $53.30M |
| Current Assets | $1.13B | $781.30M | $547.18M | $438.70M | $507.28M | $546.22M |
| Total Assets | $1.19B | $836.23M | $598.23M | $489.49M | $553.59M | $602.63M |
| Current Liabilities | $711.26M | $479.86M | $302.26M | $202.50M | $223.03M | $276.09M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $724.09M | $484.37M | $307.29M | $208.59M | $227.99M | $280.22M |
| Stockholders' Equity | $462.26M | $351.86M | $290.94M | $280.90M | $326.39M | $320.67M |
| Retained Earnings | $406.20M | $292.70M | $225.51M | $207.83M | $188.69M | $166.11M |
Cash Flow
| Line item | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $414.72M | $167.58M | $116.86M | ($30.06M) | $28.41M | $174.68M |
| Investing Cash Flow | ($182.02M) | ($193.62M) | ($67.61M) | ($63.12M) | ($7.04M) | $68.30M |
| Financing Cash Flow | ($42.59M) | ($26.06M) | ($26.05M) | ($82.80M) | ($34.61M) | ($45.41M) |
| CapEx | $3.88M | $6.58M | $2.76M | $3.37M | $1.42M | $1.70M |
| Free Cash Flow | $410.84M | $161.00M | $114.10M | ($33.43M) | $26.99M | $172.98M |
Ratios
| Metric | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 20.5% | 16.1% | 14.1% | 19.0% | 19.6% | 15.8% |
| Operating margin | 14.3% | 10.1% | 6.4% | 9.2% | 8.7% | 5.9% |
| EBITDA margin | 14.5% | 10.3% | 6.7% | 9.8% | 9.4% | 6.8% |
| Net margin | 14.6% | 9.8% | 5.6% | 7.3% | 7.5% | 6.1% |
| Free cash flow margin | 43.5% | 18.4% | 19.9% | -7.3% | 5.3% | 44.1% |
| FCF / Net income | 2.98 | 1.88 | 3.53 | -1.01 | 0.71 | 7.25 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 6.2% | 6.0% | 7.7% | 9.8% | 9.3% | 10.0% |
| Effective tax rate | 14.2% | 23.2% | 33.9% | 25.4% | 22.9% | 4.3% |
| Return on assets | 11.6% | 10.2% | 5.4% | 6.8% | 6.9% | 4.0% |
| Return on equity | 29.8% | 24.3% | 11.1% | 11.8% | 11.7% | 7.4% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.59 | 1.63 | 1.81 | 2.17 | 2.27 | 1.98 |
| Quick ratio | 1.59 | 1.63 | 1.81 | 2.17 | 2.27 | 1.98 |
| Cash ratio | 0.48 | 0.30 | 0.65 | 0.86 | 1.57 | 1.33 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.57 | 2.38 | 2.06 | 1.74 | 1.70 | 1.88 |
| Liabilities / Assets | 0.61 | 0.58 | 0.51 | 0.43 | 0.41 | 0.46 |
| Efficiency | ||||||
| Asset turnover | 0.80 | 1.05 | 0.96 | 0.93 | 0.92 | 0.65 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 52d | 73d | 30d | 40d | 19d | 27d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 52d | 48d | 29d | 56d | 37d | 59d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 35.6x | 22.2x | 18.5x | 16.7x | 15.5x | 28.6x |
| P / B | 10.6x | 5.4x | 2.1x | 2.0x | 1.8x | 2.1x |
| P / S | 5.2x | 2.2x | 1.0x | 1.2x | 1.2x | 1.7x |
| EV / EBITDA | 33.5x | 19.5x | 10.5x | 8.5x | 5.0x | 11.9x |
| Growth | ||||||
| Revenue growth (YoY) | 8.1% | 52.5% | 26.0% | -10.7% | 29.9% | - |
| Revenue CAGR (3y) | 27.6% | 19.7% | 13.5% | - | 28.7% | -16.6% |
| Revenue CAGR (5y) | 19.2% | - | 19.1% | -7.6% | - | - |
| Gross profit growth (YoY) | 37.4% | 74.4% | -6.4% | -13.4% | 60.7% | - |
| Operating income growth (YoY) | 52.7% | 141.9% | -12.5% | -6.4% | 93.3% | - |
| Net income growth (YoY) | 61.2% | 164.1% | -2.2% | -13.5% | 60.3% | - |
| EPS growth (YoY) | 58.4% | 157.3% | 2.6% | -2.9% | 58.9% | - |
| EPS CAGR (3y) | 61.1% | 36.8% | 16.5% | - | - | -23.1% |
| EPS CAGR (5y) | 45.2% | - | - | -6.8% | -12.0% | -19.6% |
| FCF growth (YoY) | 155.2% | 41.1% | - | - | -84.4% | - |
| FCF CAGR (5y) | 18.9% | - | 19.7% | - | - | -7.6% |
| Book value growth (YoY) | 31.4% | 20.9% | 3.6% | -13.9% | 1.8% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-31.
Business segments
$944.61M totalPower Industry Services$756.50M · 80.1%
Industrial Construction Services$167.55M · 17.7%
Telecommunications Infrastructure Services$20.55M · 2.2%
Product / service
$2.10M totalProject Development Services$2.10M · 100.0%
Geographic
$944.61M totalUS$852.21M · 90.2%
IE$65.01M · 6.9%
GB$27.39M · 2.9%
Stability scores
Altman Z′
FY 2026 · bankruptcy risk
1.96
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2026 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Construction - Special Trade Contractors
Comparing ARGAN INC against the 5 most active filers in the same SIC group.
Dividends
$1.88/share trailing 12 months · +31.6% YoY
| Ex-date | Per share |
|---|---|
| Apr 22, 2026 | $0.5000 |
| Jan 22, 2026 | $0.5000 |
| Oct 23, 2025 | $0.5000 |
| Jul 23, 2025 | $0.3750 |
| Apr 22, 2025 | $0.3750 |
| Jan 23, 2025 | $0.3750 |
| Oct 23, 2024 | $0.3750 |
| Jul 23, 2024 | $0.3000 |
| Apr 19, 2024 | $0.3000 |
| Jan 22, 2024 | $0.3000 |
| Oct 20, 2023 | $0.3000 |
| Jul 20, 2023 | $0.2500 |
| Apr 19, 2023 | $0.2500 |
| Jan 19, 2023 | $0.2500 |
| Oct 20, 2022 | $0.2500 |
| Jul 20, 2022 | $0.2500 |
| Apr 20, 2022 | $0.2500 |
| Jan 20, 2022 | $0.2500 |
| Oct 20, 2021 | $0.2500 |
| Jul 21, 2021 | $0.2500 |
| Apr 21, 2021 | $0.2500 |
| Dec 18, 2020 | $1.2500 |
| Oct 21, 2020 | $0.2500 |
| Jul 22, 2020 | $1.2500 |