Argan Inc (AGX)

Argan, Inc., through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market in the United States, Republic of Ireland, and the United Kingdom. It operates through three segments: Power, Industrial, and Teledata. Its Power segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects; and design, construction, project management, start-up, and operation, as well as provides technical consulting services; and turbine, boiler, and large rotating equipment. This segment serves independent power producers, public utilities, power plant equipment suppliers, and other commercial firms. The company's Industrial segment provides field services that support new plant construction and additions; maintenance turnarounds; shutdowns and emergency mobilizations for industrial plants; and fabricates, delivers, and installation of metal components, such as piping systems and pressure vessels. Its Teledata segment offers trenchless directional boring and excavation for underground communication and power networks; aerial cabling; high and low voltage electric lines; and private area outdoor lighting systems, as well as installs buried cable. It also provides structured cabling, terminations, and connectivity that offers the physical transport for high-speed data, voice, video, and security networks; and utility construction services and comprehensive technology wiring solutions. This segment serves electricity cooperative, state and federal government agencies, counties and municipalities, and technology-oriented government contracting firms, as well as customers in the mid-Atlantic region of the United States. Argan, Inc. was incorporated in 1961 and is headquartered in Arlington, Virginia.

Ticker
AGX
Exchange
NYSE
Sector
Industrials
Industry
Engineering & Construction
Market cap
$3.89B
52-week range
$252.88 - $805.75

Valuation

Share price
$277.50 (close of Nov 6, 2026)
P/E (TTM)
21.55x
Price to book
7.68x
Price to free cash flow
7.14x
Enterprise value
$3.36B
Book value per share
$36.12

Price performance

PeriodChange
1 day+6.24%
5 days-19.36%
1 month-33.87%
3 months-53.04%
6 months-61.86%
Year to date-11.43%
1 year-10.88%
3 years+516.80%
5 years+510.70%
10 years+402.26%
All time+118,300.00%

Short interest

As of
Oct 15, 2026
Short % of float
7.81%
Shares short
1.08M
Days to cover
3.36
Change since prior report
-12.54%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
29.80%
Return on invested capital
24.09%
Return on assets
11.61%
Return on capital employed
28.35%
Gross margin
20.50%
Net margin
14.59%
EBITDA margin
14.50%
Revenue growth
8.06%
Net income growth
61.22%
Free cash flow growth
155.18%

Cash flow and balance sheet

Free cash flow yield (TTM)
14.01%
Current ratio
1.50x
Net debt to EBITDA
-2.78x

Latest reported year

Period end
Jan 31, 2026
Fiscal year
2026
Revenue
$944.61M
Cost of revenue
$750.93M
Gross profit
$193.68M
EBITDA
$136.99M
Net income
$137.77M
Earnings per share
$10.00
Shares outstanding
13.77M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2026-01-31$944.61M$193.68M$137.77M$10.00
2025-01-31$874.18M$140.99M$85.46M$6.35
2024-01-31$573.33M$80.83M$32.36M$2.42
2023-01-31$455.04M$86.36M$33.10M$2.35
2022-01-31$509.37M$99.73M$38.24M$2.43
2021-01-31$392.21M$62.07M$23.85M$1.52
2020-01-31$239.00M-$6.82M-$42.69M-$2.73
2019-01-31$482.15M$82.44M$52.04M$3.34
2018-01-31$892.82M$149.32M$72.01M$4.64
2017-01-31$675.05M$146.71M$70.33M$4.67

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2026-01-3120.50%14.59%29.80%24.09%
2025-01-3116.13%9.78%24.29%17.61%
2024-01-3114.10%5.64%11.12%6.77%
2023-01-3118.98%7.27%11.78%10.75%
2022-01-3119.58%7.51%11.75%10.07%
2021-01-3115.83%6.08%7.40%6.74%
2020-01-31-2.85%-17.86%-12.52%-14.21%
2019-01-3117.10%10.79%13.19%10.20%
2018-01-3116.73%8.07%20.11%18.62%
2017-01-3121.73%10.42%24.04%25.69%

Cash and debt by year

Period endCash
2026-01-31$491.38M
2025-01-31$298.39M
2024-01-31$306.52M
2023-01-31$325.46M
2022-01-31$350.47M
2021-01-31$366.67M
2020-01-31$167.36M
2019-01-31$164.32M
2018-01-31$122.11M
2017-01-31$167.20M

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-01-31$410.84M$7.87M
2025-01-31$161.00M$4.46M
2024-01-31$114.10M$4.46M
2023-01-31-$33.43M$3.96M
2022-01-31$26.99M$3.46M
2021-01-31$174.32M$2.94M
2020-01-31$46.51M$2.13M
2019-01-31-$120.92M$1.65M
2018-01-31-$77.62M$4.65M
2017-01-31$256.23M$2.34M

Dividend history

Most recent payment
Oct 22, 2026
Paid in the last twelve months
$2.20
Payment dateDividend per share
2026-10-22$0.70
2026-07-23$0.50
2026-04-22$0.50
2026-01-22$0.50
2025-10-23$0.50
2025-07-23$0.38
2025-04-22$0.38
2025-01-23$0.38

Investor relations

Next earnings report

Next confirmed report
Dec 3, 2026
Consensus EPS estimate
$3.34

Past earnings dates

ReportedFiscal periodEPS estimate
2026-09-02Jul 2026$2.67
2026-06-04Apr 2026$2.27
2026-03-26Jan 2026$1.99
2025-12-04Oct 2025$1.82
2025-09-04Jul 2025$1.99
2025-06-04Apr 2025-
2025-04-09--
2025-03-27Jan 2025-

Filings and sources

Company website
arganinc.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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