NYSE : AGX
Argan, Inc. — Financial statements
Industrials · Engineering & Construction · United States
Last price 344.11 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.83B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Argan, Inc. (AGX) reported revenue of 1.19B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 1.19B | 944.61M | 874.18M | 573.33M | 455.04M | 509.37M |
| Cost of Revenue | 942.05M | 752.73M | 734.69M | 494.10M | 371.08M | 411.74M |
| Gross Profit | 246.08M | 191.88M | 139.49M | 79.23M | 83.96M | 97.63M |
| Selling, General & Admin | 61.68M | 55.28M | 49.39M | 40.78M | 39.29M | 41.82M |
| Operating Expenses | 63.58M | 57.18M | 51.29M | 42.78M | 42.29M | 45.22M |
| Operating Income | 182.50M | 134.70M | 88.19M | 36.46M | 41.67M | 52.41M |
| Interest & Investment Income | 29.80M | 24.00M | 21.30M | 14.10M | 3.40M | 3.00M |
| Earnings From Equity Investments | 1.11M | -400.00K | ||||
| Other Non Operating Income (Expenses) | 3.44M | 1.81M | 1.71M | 1.07M | -182.00K | -48.00K |
| EBT Excluding Unusual Items | 215.74M | 160.51M | 111.20M | 51.63M | 46.00M | 54.96M |
| Impairment of Goodwill | -7.90M | |||||
| Other Unusual Items | -2.70M | |||||
| Pretax Income | 215.74M | 160.51M | 111.20M | 48.93M | 46.00M | 47.06M |
| Income Tax Expense | 36.43M | 22.73M | 25.75M | 16.57M | 11.30M | 11.36M |
| Earnings From Continuing Operations | 179.31M | 137.77M | 85.46M | 32.36M | 34.70M | 35.71M |
| Minority Interest in Earnings | -1.61M | 2.54M | ||||
| Net Income | 179.31M | 137.77M | 85.46M | 32.36M | 33.10M | 38.24M |
| Net Income to Common | 179.31M | 137.77M | 85.46M | 32.36M | 33.10M | 38.24M |
| Shares Outstanding (Basic) | 13.93M | 13.77M | 13.45M | 13.37M | 14.08M | 15.71M |
| Shares Outstanding (Diluted) | 14.18M | 14.15M | 13.91M | 13.55M | 14.18M | 15.91M |
| EPS (Basic) | 12.87 | 10.00 | 6.35 | 2.42 | 2.35 | 2.43 |
| EPS (Diluted) | 12.66 | 9.74 | 6.15 | 2.39 | 2.33 | 2.40 |
| Free Cash Flow | 545.70M | 410.84M | 161.00M | 114.10M | -33.43M | 26.99M |
| Free Cash Flow Per Share | 38.49 | 29.04 | 11.58 | 8.42 | -2.36 | 1.70 |
| Dividend Per Share | 2.00 | 1.75 | 1.35 | 1.10 | 1.00 | 1.00 |
| Gross Margin | 20.71% | 20.31% | 15.96% | 13.82% | 18.45% | 19.17% |
| Operating Margin | 15.36% | 14.26% | 10.09% | 6.36% | 9.16% | 10.29% |
| Profit Margin | 15.09% | 14.59% | 9.78% | 5.64% | 7.27% | 7.51% |
| Free Cash Flow Margin | 45.93% | 43.49% | 18.42% | 19.90% | -7.35% | 5.30% |
| EBITDA | 185.04M | 136.99M | 90.49M | 38.86M | 45.35M | 56.65M |
| EBITDA Margin | 15.57% | 14.50% | 10.35% | 6.78% | 9.97% | 11.12% |
| D&A For EBITDA | 2.54M | 2.29M | 2.30M | 2.40M | 3.68M | 4.24M |
| EBIT | 182.50M | 134.70M | 88.19M | 36.46M | 41.67M | 52.41M |
| EBIT Margin | 15.36% | 14.26% | 10.09% | 6.36% | 9.16% | 10.29% |
| Effective Tax Rate | 16.89% | 14.16% | 23.15% | 33.87% | 24.56% | 24.13% |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 364.48M | 339.48M | 145.26M | 197.03M | 173.95M | 350.47M |
| Short-Term Investments | 663.97M | 555.50M | 379.87M | 215.37M | 151.51M | 90.03M |
| Cash & Short-Term Investments | 1.03B | 894.98M | 525.14M | 412.40M | 325.46M | 440.50M |
| Accounts Receivable | 216.07M | 177.07M | 204.24M | 95.52M | 74.91M | 31.88M |
| Other Receivables | 35.73M | 36.02M | 30.88M | 18.27M | 15.33M | 29.45M |
| Receivables | 251.80M | 213.09M | 240.14M | 113.78M | 90.24M | 61.33M |
| Inventory | 13.13M | 10.98M | 320.00K | 9.98M | 11.90M | 738.00K |
| Prepaid Expenses | 12.12M | 5.79M | 5.75M | 6.04M | 4.54M | 2.95M |
| Other Current Assets | 12.98M | 7.42M | 9.95M | 4.97M | 6.56M | 1.76M |
| Total Current Assets | 1.32B | 1.13B | 781.30M | 547.18M | 438.70M | 507.28M |
| Property, Plant & Equipment | 44.30M | 22.90M | 19.76M | 16.32M | 15.23M | 14.49M |
| Long-Term Investments | 1.50M | 1.70M | 4.60M | 2.10M | ||
| Goodwill | 30.67M | 28.03M | 28.03M | 28.03M | 28.03M | 28.03M |
| Other Intangible Assets | 6.03M | 1.45M | 1.83M | 2.22M | 2.61M | 3.32M |
| Long-Term Deferred Tax Assets | 552.00K | 2.26M | 3.69M | 457.00K | ||
| Other Long-Term Assets | 18.00K | 153.00K | 120.00K | 1.22M | ||
| Total Assets | 1.40B | 1.19B | 836.23M | 598.23M | 489.49M | 553.59M |
| Accounts Payable | 115.21M | 107.54M | 97.30M | 39.48M | 56.38M | 41.82M |
| Accrued Expenses | 58.95M | 48.61M | 48.99M | 29.86M | 30.85M | 32.03M |
| Current Portion of Leases | 10.91M | 2.52M | 2.71M | 2.73M | 1.57M | 1.37M |
| Current Unearned Revenue | 627.02M | 513.97M | 299.24M | 181.05M | 96.26M | 127.89M |
| Other Current Liabilities | 66.01M | 38.62M | 31.62M | 49.13M | 17.45M | 19.92M |
| Total Current Liabilities | 878.11M | 711.26M | 479.86M | 302.26M | 202.50M | 223.03M |
| Long-Term Leases | 3.87M | |||||
| Long-Term Deferred Tax Liabilities | 3.06M | 6.55M | ||||
| Other Long-Term Liabilities | 12.96M | 2.41M | 4.51M | 5.03M | 6.09M | 4.96M |
| Total Liabilities | 894.13M | 724.09M | 484.37M | 307.29M | 208.59M | 227.99M |
| Common Stock | 2.37M | 2.37M | 2.37M | 2.37M | 2.37M | 2.37M |
| Additional Paid-In Capital | 165.04M | 167.23M | 168.97M | 164.18M | 162.21M | 158.19M |
| Retained Earnings | 491.54M | 406.20M | 292.70M | 225.51M | 207.83M | 188.69M |
| Treasury Stock | -144.91M | -114.36M | -105.64M | -97.53M | -88.64M | -20.41M |
| Comprehensive Income & Other | -7.20M | 818.00K | -6.54M | -3.60M | -2.88M | -2.45M |
| Total Common Equity | 506.84M | 462.26M | 351.86M | 290.94M | 280.90M | 326.39M |
| Minority Interest | -797.00K | |||||
| Shareholders' Equity | 506.84M | 462.26M | 351.86M | 290.94M | 280.90M | 325.60M |
| Total Liabilities & Equity | 1.40B | 1.19B | 836.23M | 598.23M | 489.49M | 553.59M |
| Total Debt | 10.91M | 6.39M | 2.71M | 2.73M | 1.57M | 1.37M |
| Net Cash (Debt) | 1.02B | 888.59M | 522.43M | 409.68M | 323.89M | 439.13M |
| Net Cash Per Share | 71.78 | 62.81 | 37.57 | 30.24 | 22.85 | 27.60 |
| Filing Date Shares Outstanding | 14.03M | 13.95M | 13.63M | 13.24M | 13.40M | 14.82M |
| Total Common Shares Outstanding | 14.03M | 13.95M | 13.63M | 13.24M | 13.44M | 15.26M |
| Working Capital | 440.36M | 421.00M | 301.44M | 244.92M | 236.20M | 284.26M |
| Book Value Per Share | 36.12 | 33.14 | 25.81 | 21.97 | 20.90 | 21.39 |
| Tangible Book Value | 470.14M | 432.78M | 322.00M | 260.69M | 250.25M | 295.04M |
| Tangible Book Value Per Share | 33.50 | 31.02 | 23.62 | 19.69 | 18.62 | 19.34 |
| Land | 936.00K | 936.00K | 863.00K | 863.00K | 863.00K | |
| Buildings | 12.86M | 11.41M | 7.91M | 7.56M | 5.76M | |
| Machinery | 24.14M | 23.24M | 23.84M | 23.26M | 24.82M | |
| Order Backlog | 2.90B | 1.40B |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 179.31M | 137.77M | 85.46M | 32.36M | 33.10M | 38.24M |
| Depreciation & Amortization | 2.54M | 2.29M | 2.30M | 2.40M | 6.24M | 4.24M |
| Asset Writedown & Restructuring Costs | 7.90M | |||||
| Loss (Gain) on Equity Investments | -1.11M | 466.00K | ||||
| Stock-Based Compensation | 8.87M | 7.87M | 4.46M | 4.46M | 3.96M | 3.46M |
| Provision & Write-off of Bad Debts | 2.38M | |||||
| Other Operating Activities | 8.62M | 9.40M | 7.49M | -332.00K | -3.23M | 603.00K |
| Change in Accounts Receivable | -10.86M | 27.29M | -108.85M | -20.65M | -43.12M | 21.26M |
| Change in Accounts Payable | 81.71M | 28.64M | 66.23M | 14.83M | 9.08M | -5.74M |
| Change in Unearned Revenue | 310.20M | 214.73M | 118.19M | 84.79M | -31.63M | -44.15M |
| Change in Other Net Operating Assets | -25.22M | -13.26M | -7.68M | -1.00M | -3.35M | -241.00K |
| Operating Cash Flow | 555.18M | 414.72M | 167.58M | 116.86M | -30.06M | 28.41M |
| Capital Expenditures | -9.48M | -3.88M | -6.58M | -2.76M | -3.37M | -1.42M |
| Cash Acquisitions | -7.97M | -600.00K | ||||
| Investment in Securities | -286.09M | -183.17M | -182.01M | -64.85M | -59.75M | -5.02M |
| Other Investing Activities | 5.02M | 5.02M | -5.02M | |||
| Investing Cash Flow | -298.51M | -182.02M | -193.62M | -67.61M | -63.12M | -7.04M |
| Issuance of Common Stock | 1.10M | 66.00K | 1.43M | |||
| Repurchase of Common Stock | -41.34M | -18.32M | -7.79M | -12.46M | -68.24M | -20.37M |
| Common Dividends Paid | -28.05M | -24.27M | -18.27M | -14.68M | -13.96M | -15.66M |
| Other Financing Activities | -677.00K | |||||
| Financing Cash Flow | -69.39M | -42.59M | -26.06M | -26.05M | -82.80M | -34.61M |
| Foreign Exchange Rate Adjustments | -643.00K | 4.11M | 322.00K | -116.00K | -539.00K | -2.97M |
| Net Cash Flow | 186.63M | 194.22M | -51.77M | 23.09M | -176.53M | -16.20M |
| Free Cash Flow | 545.70M | 410.84M | 161.00M | 114.10M | -33.43M | 26.99M |
| Free Cash Flow Margin | 45.93% | 43.49% | 18.42% | 19.90% | -7.35% | 5.30% |
| Free Cash Flow Per Share | 38.49 | 29.04 | 11.58 | 8.42 | -2.36 | 1.70 |
| Levered Free Cash Flow | 467.82M | 340.95M | 111.52M | 103.96M | -34.32M | 7.31M |
| Unlevered Free Cash Flow | 467.82M | 340.95M | 111.52M | 103.96M | -34.32M | 7.31M |
| Cash Income Tax Paid | 36.62M | 29.52M | 30.80M | 14.30M | 6.67M | 13.90M |
| Change in Working Capital | 355.83M | 257.39M | 67.88M | 77.97M | -69.01M | -28.88M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.64B | 4.82B | 1.86B | 590.82M | 529.34M | 583.80M |
| Enterprise Value | 3.62B | 4.09B | 1.35B | 197.47M | 244.63M | 106.89M |
| Last Close Price | 344.11 | 345.84 | 135.24 | 43.22 | 37.04 | 34.32 |
| PE Ratio | 26.13 | 34.95 | 21.73 | 18.26 | 15.99 | 15.27 |
| Forward PE | 23.98 | 41.16 | 28.35 | 13.72 | 14.34 | 15.38 |
| PS Ratio | 4.13 | 5.10 | 2.12 | 1.03 | 1.16 | 1.15 |
| PB Ratio | 9.53 | 10.42 | 5.28 | 2.03 | 1.88 | 1.79 |
| P/TBV Ratio | 10.45 | 11.13 | 5.77 | 2.27 | 2.12 | 1.98 |
| P/FCF Ratio | 9.00 | 11.72 | 11.54 | 5.18 | 21.63 | |
| P/OCF Ratio | 8.85 | 11.61 | 11.08 | 5.06 | 20.55 | |
| PEG Ratio | 1.64 | 4.12 | 2.83 | 1.37 | 1.43 | 1.54 |
| EV/Sales Ratio | 3.28 | 4.33 | 1.55 | 0.34 | 0.54 | 0.21 |
| EV/EBITDA Ratio | 21.04 | 29.87 | 14.96 | 5.08 | 5.39 | 1.89 |
| EV/EBIT Ratio | 21.33 | 30.37 | 15.35 | 5.42 | 5.87 | 2.04 |
| EV/FCF Ratio | 7.13 | 9.96 | 8.41 | 1.73 | 3.96 | |
| Debt / Equity Ratio | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
| Debt / EBITDA Ratio | 0.05 | 0.04 | 0.02 | 0.05 | 0.03 | 0.02 |
| Debt / FCF Ratio | 0.02 | 0.02 | 0.02 | 0.02 | 0.05 | |
| Net Debt / Equity Ratio | -2.01 | -1.92 | -1.49 | -1.41 | -1.15 | -1.35 |
| Net Debt / EBITDA Ratio | -5.50 | -6.49 | -5.77 | -10.54 | -7.14 | -7.75 |
| Net Debt / FCF Ratio | -1.86 | -2.16 | -3.25 | -3.59 | 9.69 | -16.27 |
| Asset Turnover | 1.04 | 0.93 | 1.22 | 1.05 | 0.87 | 0.88 |
| Inventory Turnover | 130.98 | 133.25 | 142.59 | 45.15 | 58.71 | |
| Quick Ratio | 1.46 | 1.56 | 1.58 | 1.74 | 2.05 | 2.25 |
| Current Ratio | 1.50 | 1.59 | 1.63 | 1.81 | 2.17 | 2.27 |
| Return on Equity (ROE) | 39.85% | 33.85% | 26.59% | 11.32% | 11.44% | 11.02% |
| Return on Assets (ROA) | 9.99% | 8.33% | 7.69% | 4.19% | 4.99% | 5.67% |
| Return on Capital Employed (ROCE) | 34.90% | 28.40% | 24.70% | 12.30% | 14.50% | 15.90% |
| Earnings Yield | 3.83% | 2.86% | 4.60% | 5.48% | 6.25% | 6.55% |
| FCF Yield | 11.11% | 8.53% | 8.67% | 19.31% | -6.32% | 4.62% |
| Dividend Yield | 0.84% | 0.51% | 0.99% | 2.46% | 2.54% | 2.61% |
| Payout Ratio | 17.38% | 17.62% | 21.38% | 45.38% | 42.17% | 40.96% |
| Buyback Yield / Dilution | -0.52% | -1.73% | -2.64% | 4.43% | 10.92% | -0.56% |
| Total Shareholder Return | 0.28% | -1.23% | -1.65% | 6.89% | 13.46% | 2.06% |