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Argan Inc (AGX) stock

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NYSE: AGX NYSE Construction & Engineering Next results ~December 3, 2026

B+ Fundamentals grade

Argan Inc is a US-listed company in the construction & engineering industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($1,239.14) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($1,239.14) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.

Argan Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Argan files

Where Argan stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $1.19bn, up 29.0% on a year earlier, faster than the 14.5% growth a quarter earlier. Free-cash-flow margin rose to 45.9% from 15.2% a year earlier. Operating margin widened to 15.4% from 12.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 2 of our 2 financial-health checks.

Our model value for Argan is under review, so past values are not shown until it is resolved.

Source: 10-Q filed September 2, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 3, 2026 (estimated)

Argan Inc's trailing-twelve-month revenue grew 29.0% year on year, with a free-cash-flow margin of 45.9%. Where it stands out: free-cash-flow margin of 45.9% ranks 2 of 43 construction & engineering companies we cover.

Our discounted-cash-flow model values the business at ~$1200 per share in the base case (~$960–$1600 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 289.0% while net income grew 53.0%: a 236pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 29.0% over the last 12 months, against a median of 21.2% for construction & engineering companies we cover.
  • Growth speeding up. The growth rate is 14.5 points higher than a quarter earlier.
  • Strong cash generation. 45.9% of revenue turned into free cash flow, against a median of 2.3% for construction & engineering companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.4bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 78% and a beta of 1.7 against the S&P 500.
  • Insiders selling. 11 insiders sold $147M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2027 Q2

Filed September 2, 2026
Earnings per share
$3.76 against an average estimate of $2.66: beat by 41.2%
Revenue
$384m, up 61.5% on a year earlier
Share reaction
+1.7% in the first session after the results on September 2, 2026, against +1.5% for the S&P 500
Next report
September 2, 2026; average EPS estimate $3.17

Argan's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.9%
  • 1 week+1.5%
  • 1 month-12.8%
  • This year+7.2%
  • 1 year+9.7%
  • 5 years+740.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.2B
Operating margin
15.4%
Net margin
15.1%
EPS (TTM, diluted)
$12.65

Growth

Revenue growth
+29.0%
Change in growth rate
+14.5 pts
Share count change
+0.5%

Cash

Free cash flow (TTM)
$546M
FCF margin
45.9%
Stock pay % of revenue
0.7%

Earnings

Last results
September 2, 2026
Next results (est.)
December 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Results
  3. Announcement
  4. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Argan Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($1,239.14) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Argan Inc's free cash flow after stock-based pay ( $352M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Argan Inc as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.22 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$1200 ~$960–$1600 Left out: far from the other models (more than 3x away from their median)
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$190 ~$140–$230 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$230 ~$200–$300 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$110 ~$78–$140 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$92 ~$81–$110 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Argan Inc with Construction & Engineering in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2017201820192020202120222023202420252026Now
Share price$58.52$35.12$34.86$35.59$39.05$34.32$37.04$43.22$135.24$345.84$334.12
Market value$914m$554m$547m$556m$618m$546m$525m$586m$1.9bn$4.9bn$4.7bn
+ Net debt (− = net cash)−$167m−$122m−$164m−$167m−$367m−$350m−$174m−$197m−$145m−$339m−$364m
Enterprise value$747m$432m$383m$389m$251m$196m$351m$389m$1.7bn$4.6bn$4.4bn
Multiples
Price / sales 1.4x0.6x1.1x2.3x1.6x1.1x1.2x1.0x2.2x5.2x4.0x
Price / earnings 13.0x7.7x10.5x—25.9x14.3x15.9x18.1x22.0x35.5x26.4x
Price / free cash flow 3.6x——12.0x3.5x20.2x—5.1x11.7x11.9x8.7x
EV / EBITDA 6.5x3.9x8.8x—9.4x4.1x7.9x10.1x19.3x33.3x23.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

61 /100

Moderate moat

How hard Argan's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 17.7% of total assets over 10 years.

  • Pricing power 5 / 20

    Gross margin has been a median 16.7%, moving by 4.6 percentage points (standard deviation) across 9 years.

  • Durability 1 / 20

    Operating margin has been a median 7.7%; its worst year was -8.1%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 6 of 9 years, at a median 15.2% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 11.1% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $13.27 +36% $1.4bn +48%
Next $16.11 +21% $1.7bn +20%

Next year's EPS estimate has moved −0.9% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +8.4% on 90 days ago. In the last 30 days, 3 analysts raised Argan Inc's forecast and 1 cut it.

Consensus EPS forecast Argan Inc, last 90 days
$12.00 $14.00 $16.00 $18.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $12.24 Current fiscal year, 60 days ago: $12.24 Current fiscal year, 30 days ago: $12.09 Current fiscal year, 7 days ago: $13.06 Current fiscal year, Now: $13.27 $13.27 Next fiscal year, 90 days ago: $16.25 Next fiscal year, 60 days ago: $16.25 Next fiscal year, 30 days ago: $15.99 Next fiscal year, 7 days ago: $16.23 Next fiscal year, Now: $16.11 $16.11

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $12.24$16.25
60 days ago $12.24$16.25
30 days ago $12.09$15.99
7 days ago $13.06$16.23
Now $13.27$16.11

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $2.66 $3.76 +41.2%
Apr 2026 $2.33 $3.24 +38.9%
Jan 2026 $1.98 $3.47 +75.5%
Oct 2025 $2.10 $2.17 +3.5%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Argan Inc's revenue by +26.4% next year and +20.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+30.0%, weight 64%) and the company's own record (+20.0%, weight 36%) . How the weights are set.

Analyst recommendations

6 analysts, Oct 2026
Buy467%
Hold117%
Sell117%

Monthly trend

  1. Oct 202613116
  2. Sep 20261135
  3. Aug 20261135

Counts of recommendations published by analysts covering Argan Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.9%
of tradable shares
Days to cover
2.81
at average volume
Short interest, 1 month
−17%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
4.1%
of shares
Employees
1,409
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +9.7%

$304.71 on October 31, 2025 to $334.12

ThenNowEffect
Revenue (last 12 months) $921m $1.2bn +29.0%
Net margin 12.7% 15.1% +18.6%
P/E multiple 36.7x 26.4x −28.0%
Share count 14m 14m −0.5%

Biggest factor: p/e multiple.

Last 3 years +664.4%

$43.71 on November 3, 2023 to $334.12

ThenNowEffect
Revenue (last 12 months) $482m $1.2bn +146.7%
Net margin 7.5% 15.1% +100.4%
P/E multiple 16.4x 26.4x +60.7%
Share count 14m 14m −3.8%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AGX−12%−2%+30%+198%+131%+7%
Industry peers (median)+41%−8%+46%+47%+25%−11%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AGX25%50%75%83%75%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AGX−32%−23%−15%−15%−44%−59%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from June 30, 2026 to October 26, 2026. Getting back needed a 142% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$295.11 – $796.28
From 52-week high
−58.0%
vs 50-day average
−13.2%
vs 200-day average
−35.7%
Volatility (1 year)
78%
Beta vs S&P 500
1.68

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±12.0%
After a week
7 up, 5 down
typical move ±10.9%
After a month
7 up, 5 down
typical move ±17.2%
Results releasedNext dayS&P 500 next day5 days21 days
September 2, 2026 +1.7% +1.5% −2.1% −5.2%
June 4, 2026 +1.2% −2.2% −9.1% −3.4%
March 26, 2026 +29.5% −3.5% +31.5% +51.2%
December 4, 2025 −10.6% +0.3% −5.8% −5.9%
September 4, 2025 −6.8% +0.5% +2.4% +15.5%
June 4, 2025 +7.6% −0.5% +2.6% −4.2%
March 27, 2025 +15.6% −2.3% +7.7% +27.4%
December 5, 2024 −1.2% 0.0% −3.2% +0.8%
September 5, 2024 +25.7% −1.9% +23.7% +51.2%
June 6, 2024 +10.8% −0.1% +11.3% +2.2%
April 11, 2024 +20.7% −0.6% +23.1% +35.0%
December 6, 2023 −12.1% +0.4% −8.1% −4.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Argan Inc in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Argan Inc
$400M $600M $800M $1B $1.2B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $527.6M Revenue (TTM), FY24 Q4: $573.3M Revenue (TTM), FY25 Q1: $627.3M Revenue (TTM), FY25 Q2: $713M Revenue (TTM), FY25 Q3: $806.3M Revenue (TTM), FY25 Q4: $874.2M Revenue (TTM), FY26 Q1: $910.2M Revenue (TTM), FY26 Q2: $920.9M Revenue (TTM), FY26 Q3: $915M Revenue (TTM), FY26 Q4: $944.6M Revenue (TTM), FY27 Q1: $1B Revenue (TTM), FY27 Q2: $1.2B $1.2B

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $527.6M
FY24 Q4 $573.3M
FY25 Q1 $627.3M
FY25 Q2 $713M
FY25 Q3 $806.3M
FY25 Q4 $874.2M
FY26 Q1 $910.2M
FY26 Q2 $920.9M
FY26 Q3 $915M
FY26 Q4 $944.6M
FY27 Q1 $1B
FY27 Q2 $1.2B
Revenue growth, TTM YoY Argan Inc
0% 20% 40% 60% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 14.2% Revenue growth, TTM YoY, FY24 Q4: 26.0% Revenue growth, TTM YoY, FY25 Q1: 36.8% Revenue growth, TTM YoY, FY25 Q2: 48.0% Revenue growth, TTM YoY, FY25 Q3: 52.8% Revenue growth, TTM YoY, FY25 Q4: 52.5% Revenue growth, TTM YoY, FY26 Q1: 45.1% Revenue growth, TTM YoY, FY26 Q2: 29.2% Revenue growth, TTM YoY, FY26 Q3: 13.5% Revenue growth, TTM YoY, FY26 Q4: 8.1% Revenue growth, TTM YoY, FY27 Q1: 14.5% Revenue growth, TTM YoY, FY27 Q2: 29.0% 29.0%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 14.2%
FY24 Q4 26.0%
FY25 Q1 36.8%
FY25 Q2 48.0%
FY25 Q3 52.8%
FY25 Q4 52.5%
FY26 Q1 45.1%
FY26 Q2 29.2%
FY26 Q3 13.5%
FY26 Q4 8.1%
FY27 Q1 14.5%
FY27 Q2 29.0%
Operating margin (TTM) Argan Inc
5% 10% 15% 20% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 6.5% Operating margin (TTM), FY24 Q4: 6.4% Operating margin (TTM), FY25 Q1: 6.3% Operating margin (TTM), FY25 Q2: 6.3% Operating margin (TTM), FY25 Q3: 8.3% Operating margin (TTM), FY25 Q4: 10.1% Operating margin (TTM), FY26 Q1: 11.6% Operating margin (TTM), FY26 Q2: 12.7% Operating margin (TTM), FY26 Q3: 13.1% Operating margin (TTM), FY26 Q4: 14.3% Operating margin (TTM), FY27 Q1: 14.9% Operating margin (TTM), FY27 Q2: 15.4% 15.4%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 6.5%
FY24 Q4 6.4%
FY25 Q1 6.3%
FY25 Q2 6.3%
FY25 Q3 8.3%
FY25 Q4 10.1%
FY26 Q1 11.6%
FY26 Q2 12.7%
FY26 Q3 13.1%
FY26 Q4 14.3%
FY27 Q1 14.9%
FY27 Q2 15.4%
FCF margin (TTM) Argan Inc
0% 20% 40% 60% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 25.1% FCF margin (TTM), FY24 Q4: 19.9% FCF margin (TTM), FY25 Q1: 21.3% FCF margin (TTM), FY25 Q2: 23.7% FCF margin (TTM), FY25 Q3: 17.6% FCF margin (TTM), FY25 Q4: 18.4% FCF margin (TTM), FY26 Q1: 19.6% FCF margin (TTM), FY26 Q2: 15.2% FCF margin (TTM), FY26 Q3: 30.9% FCF margin (TTM), FY26 Q4: 43.5% FCF margin (TTM), FY27 Q1: 46.7% FCF margin (TTM), FY27 Q2: 45.9% 45.9%

Source: SEC EDGAR filings. Retrieved October 31, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 25.1%
FY24 Q4 19.9%
FY25 Q1 21.3%
FY25 Q2 23.7%
FY25 Q3 17.6%
FY25 Q4 18.4%
FY26 Q1 19.6%
FY26 Q2 15.2%
FY26 Q3 30.9%
FY26 Q4 43.5%
FY27 Q1 46.7%
FY27 Q2 45.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Argan took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $945M
  2. Other income $25.8M · 2.7%
  3. Cost of revenue $751M · 79.5%
  4. Gross profit $194M · 20.5%
  5. Selling, general and admin $59M · 6.2%
  6. Operating income $135M · 14.3%
  7. Income tax $22.7M · 2.4%
  8. Net income $138M · 14.6%

Shares of revenue. Source: Argan's 10-K for FY2026, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Jan 2017 2018 Jan 2018 2019 Jan 2019 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Jan 2025 2026 Jan 2026 LTM Jul 2026
Income
Revenue 675 893 482 239 392 509 455 573 874 945 1,188
Gross profit 147 149 82 −7 62 100 86 81 141 194 248
EBITDA 114 110 44 −52 27 48 45 38 90 137 185
Operating income 112 107 40 −56 23 45 42 36 88 135 183
Net income 70 72 52 −43 24 38 33 32 85 138 179
Diluted EPS $4.50 $4.56 $3.32 −$2.73 $1.51 $2.40 $2.33 $2.39 $6.15 $9.74 $12.65
Growth (year on year)
Revenue — +32.3% −46.0% −50.4% +64.1% +29.9% −10.7% +26.0% +52.5% +8.1% +29.0%
EBITDA — −4.0% −60.2% −219.9% — +79.0% −6.7% −13.8% +134.2% +51.6% +54.9%
Operating income — −4.7% −62.4% −238.8% — +93.3% −6.4% −12.5% +141.9% +52.7% +55.5%
Net income — +2.4% −27.7% −182.0% — +60.3% −13.5% −2.2% +164.1% +61.2% +53.0%
Diluted EPS — +1.3% −27.2% −182.2% — +58.9% −2.9% +2.6% +157.3% +58.4% +52.2%
Margins
Gross margin 21.7% 16.7% 17.1% −2.9% 15.8% 19.6% 19.0% 14.1% 16.1% 20.5% 20.9%
EBITDA margin 16.9% 12.3% 9.1% −21.9% 6.8% 9.4% 9.8% 6.7% 10.3% 14.5% 15.5%
Operating margin 16.6% 12.0% 8.3% −23.4% 5.9% 8.7% 9.2% 6.4% 10.1% 14.3% 15.4%
Net margin 10.4% 8.1% 10.8% −17.9% 6.1% 7.5% 7.3% 5.6% 9.8% 14.6% 15.1%
Free-cash-flow margin 38.0% −8.7% −25.1% 19.5% 44.4% 5.3% −7.3% 19.9% 18.4% 43.5% 45.9%
Cash flow
Cash from operations 259 −73 −112 54 176 28 −30 117 168 415 555
Capital spending 3 5 9 7 2 1 3 3 7 4 9
Free cash flow 256 −78 −121 47 174 27 −33 114 161 411 546
Stock-based pay 2 5 2 2 3 3 4 4 4 8 9
Free cash flow after stock pay 254 −82 −123 44 171 24 −37 110 157 403 537
Balance sheet
Cash 167 122 164 167 367 350 174 197 145 339 364
Total debt — — — — — — — — — — 0
Net debt (negative = net cash) −167 −122 −164 −167 −367 −350 −174 −197 −145 −339 −364
Diluted shares 16m 16m 16m 16m 16m 16m 14m 14m 14m 14m 14m
Returned to shareholders
Dividends 15 16 16 16 47 16 14 15 18 24 28
Buybacks — — — — — 20 68 12 2 10 12
Total returned 15 16 16 16 47 36 82 27 20 34 41

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · July 31, 2026
What it owns · $1.4bn
Short-term assets $1.3bnLonger-term assets $83m
What it owes, and who funded it · $1.4bn
Short-term liabilities $878mLonger-term liabilities $16mShareholders' equity $507m
  • Short-term assets cover short-term liabilities $1.3bn of assets due within a year against $878m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.3bn short-term assets against $16m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Argan Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$12.5M
Dividends (TTM)
$28.1M
Returned to shareholders
7%
of free cash flow
Buybacks, last 3 fiscal years
$23.9M
Diluted share count
+0.5%
year over year
Total shareholder yield
0.9%
dividends 0.6% + buybacks 0.3% of market value
Dividend payout ratio
16%
of net income paid out
Sales & admin spending
5.5%
of revenue
Days sales outstanding
55 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in construction & engineering
Last 12 months unless stated AGX VATE ORN MTRX CDLR LMB Median
Revenue, last 12 months $1.2bn $1.5bn $928m $874m $701m $684m $1.5bn
Revenue growth, last 12 months 29.0% 52.4% 11.0% 13.6% 160.6% 23.7% 21.2%
Revenue growth, 3-year average 35.1% −0.1% 9.5% 3.2% — 10.1% 11.3%
Revenue growth, latest quarter 61.5% 74.2% 13.8% 13.0% — 21.9% 26.9%
Gross margin 20.9% 15.9% 11.8% 7.3% 61.8% 23.6% 13.0%
Operating margin 15.4% 4.3% 1.2% −1.1% 51.2% 5.7% 4.1%
Operating margin, 3-year average 11.5% 3.4% 1.2% −3.3% — 6.5% 5.4%
Net margin 15.1% −1.5% 0.6% −0.3% 45.2% 4.4% 1.9%
Cash from operations / revenue 46.7% 9.3% 0.3% 0.8% 63.5% 7.7% 4.4%
Free-cash-flow margin 45.9% 9.3% −4.1% 0.2% −135.6% 7.4% 2.3%
Free-cash-flow margin, 3-year average 28.3% 5.6% −0.1% 7.8% — 6.3% 5.5%
Stock pay / revenue 0.7% 0.1% 0.7% 0.8% 0.3% 1.1% 0.7%
Change in share count 0.5% 0.6% 2.2% 1.9% 2.2% −0.3% 0.8%

Median of all 43 companies we cover in construction & engineering. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 construction & engineering companies
Measure Company Peer median Rank
Revenue growth Growth 29.0% 21.2% 12 of 43
Change in growth rate Growth +14.5pp +3.2pp 9 of 43
Gross margin Profitability 20.9% 11.8% 11 of 39
Operating margin Profitability 15.4% 4.1% 5 of 39
Net margin Profitability 15.1% 2.1% 4 of 42
Free-cash-flow margin Cash generation 45.9% 2.3% 2 of 43
Stock pay as % of revenue Cash generation 0.7% 0.7% 20 of 33
Change in share count Balance sheet 0.5% 1.9% 18 of 40
Days sales outstanding Balance sheet 55 days 67 days 8 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Segments
Line of business Revenue Share YoY
Power Industry Services $756M 80.1% ▲ 9.2%
Industrial Construction Services $168M 17.7% 0.0%
Telecommunications Infrastructure Services $20.6M 2.2% ▲ 52.0%
Geography
Region Revenue Share YoY
United States $852M 90.2% ▲ 8.8%
Ireland $65M 6.9% ▼ 20.1%
United Kingdom $27.4M 2.9% ▲ 181.9%

From Argan Inc's 10-K filed March 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$11.1B
Institutions reporting
557
Shares held vs prior quarter
▲ 1.0%
Positions opened / closed
129 / 63

Top buyers and sellers, Q2 2026: 302 institutions bought and 250 sold ; the biggest buyer was Price T Rowe Associates Inc (+328K shares) and the biggest seller Maverick Capital Ltd (−465K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.8B 2.2M 15.9% ▲ 4.0%
Vanguard Portfolio Management LLC $621M 778K 5.6% ▲ 50.3%
First Trust Advisors LP $602M 754K 5.4% ▼ 4.7%
Renaissance Technologies LLC $518M 648K 4.7% ▲ 6.1%
Vanguard Capital Management LLC $475M 595K 4.3% ▲ 1.2%
State Street Corp $435M 544K 3.9% ▲ 5.1%
Geode Capital Management, LLC $404M 506K 3.6% ▲ 10.2%
American Century Companies Inc $358M 448K 3.2% ▲ 6.2%
Price T Rowe Associates Inc $335M 420K 3.0% ▲ 357.3%
Lone Pine Capital LLC $294M 369K 2.7% ▼ 6.2%
Dimensional Fund Advisors LP $285M 357K 2.6% ▼ 10.3%
Invesco Ltd. $218M 273K 2.0% ▲ 4.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Argan Inc's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $147M 37 trades by 11 insiders · 0% under pre-set plans
Net ▼ $147M net selling
Insider Date Trade Shares Price Value
Jeffrey John Ronald Jr. Director July 31, 2026 Sell 5,716 $579.64 $3.3M
Griffin William F Jr Director June 22, 2026 Sell 20,000 $760.43 $15.2M
Griffin William F Jr Director June 18, 2026 Sell 30,000 $725.85 $21.8M
Getsinger Peter W Director June 17, 2026 Sell 2,000 $699.00 $1.4M
Sweeney Karen Director June 17, 2026 Sell 300 $705.00 $211,500
Baugher Joshua Scott Chief Financial Officer June 17, 2026 Sell 305 $734.00 $223,870
Baugher Joshua Scott Chief Financial Officer June 17, 2026 Sell 455 $732.83 $333,438
Watson David Hibbert PRESIDENT AND CEO June 16, 2026 Sell 1,880 $707.35 $1.3M
Getsinger Peter W Director June 16, 2026 Sell 4,728 $708.65 $3.4M
Watson David Hibbert PRESIDENT AND CEO June 15, 2026 Sell 9,993 $651.22 $6.5M
Flanders Cynthia Director June 15, 2026 Sell 2,596 $666.31 $1.7M
Griffin William F Jr Director June 12, 2026 Sell 50,000 $643.46 $32.2M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Argan Inc shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $15,001 - $50,000, traded June 30, 2026, filed July 2, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 3, 2026 estimated from the company's past filing pattern, not announced

  • September 2, 2026
  • June 4, 2026
  • March 26, 2026
  • December 4, 2025
  • September 4, 2025
  • June 4, 2025

Recent SEC filings

Data status

When each part of this page on Argan Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Argan Inc in brief

What does Argan Inc do?
Argan Inc is a US-listed company in the construction & engineering industry. Its financial year ends in January.
What is Argan Inc's stock ticker?
Argan Inc trades under the ticker AGX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Argan Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Argan Inc reported revenue of $1.2B, 29.0% higher than a year earlier, according to its SEC filings.
What is Argan Inc's free cash flow?
Argan Inc's free-cash-flow margin is 45.9% of revenue over the trailing twelve months, ranking 2 of the 43 construction & engineering companies we cover.
Who are Argan Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and First Trust Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Argan Inc buying back stock, and does it pay a dividend?
Argan Inc spent $12.5M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.5% over the year.
What is Argan Inc's market cap?
On November 2, 2026, Argan Inc's market capitalisation was about $4.7B, with a price-to-earnings ratio of 26.4 and net debt of -$364M. Market figures come from third-party market data and may be delayed.
Does Argan Inc pay a dividend?
Yes: Argan Inc paid $28.1M in dividends over the trailing twelve months, a dividend yield of 0.60% and a payout ratio of 15.6%.
Who are Argan Inc's competitors?
In our Construction & Engineering peer group, the companies closest to Argan Inc are Innovate Corp., Orion Group Holdings Inc, Matrix Service Co, Cadeler A/s and Limbach Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Argan Inc's.
Are insiders buying or selling Argan Inc stock?
Over the last 12 months, Argan Inc's directors and officers reported 0 open-market purchases and 37 sales on Form 4. The insider trading page charts every trade.
When is Argan Inc's next earnings date?
Around December 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Argan Inc announces its own schedule.