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Argan, Inc.

AGX Industrials Engineering & Construction

Argan, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $944.6 million, up 8.06% from fiscal 2025. In the quarter to July 2026, revenue grew 61.5%, EPS grew 47.9% and free cash flow grew 178.7%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for three, operating cash flow growth for three.

345.56 21.60 −5.88%
Market cap
$5.2B
P/E
26.9×
Fwd P/E
58.0×
Dividend yield
0.78%
F-score
6/9
Altman Z
6.04
Beneish M
−4.03
Dividend safety
86/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 146.79
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 2 6 — 1 10 — 7 1 — — —
Insider Ownership 3.41%

Capital & Financial Ratios $m

Market Cap 5,150.00
Revenue 1,188.13
Net Income 179.31
Free Cash Flow 545.70
Net Debt (1,028.45)
Current Ratio 1.50 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 26.87
Fwd P/E 58.00 (above 35: high)
P/S ratio 4.08
P/B ratio 9.56 (above 6: high)
Past 5Y EPS Growth 45.18% (at or above 15%: strong)
This Y EPS Growth 35.68% (at or above 15%: strong)
Next Y EPS Growth 19.36% (at or above 15%: strong)
Next Y revenue growth 48.32% (at or above 10%: strong)
Next 5Y EPS Growth 23.91% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.2×, against a ten-year median of 0.7×; over the ten years it ranged from 0.2× in 2018 to 9.8× in 2026.
P/E against its own 10 years 71.87%
10-year low 10-year high
P/S against its own 10 years 90.60%
10-year low 10-year high
P/B against its own 10 years 90.60%
10-year low 10-year high
EV/Sales against its own 10 years 90.05%
10-year low 10-year high
EV/FCF against its own 10 years 64.42%
10-year low 10-year high

Dividends

Payout Ratio 0.21
Annual Dividend Rate 2.70
Annual Dividend Yield 0.78%
total individual payouts
2029 Powerpack
2028 Powerpack
2027 Powerpack
2026 1.80
0.50
0.50
0.50
0.70
2025 1.63
0.38
0.38
0.38
0.50
2024 1.28
0.30
0.30
0.30
0.38
2023 1.05
0.25
0.25
0.25
0.30
2022 1.00
0.25
0.25
0.25
0.25
2021 0.75
0.25
0.25
0.25
2020 0.75
0.25
0.25
1.00
0.25
1.00
2019 1.00
0.25
0.25
0.25
0.25
2018 0.75
0.25
0.25
0.25
2017 1.00
1.00
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 412 525 895 1,028
Receivables 47 176 134 180
Inventory — — — —
Other 39 52 60 74
547 781 1,132 1,318
2024 2025 2026 Q'26
Payables 39 97 108 115
ST’ Debt — — — —
Other — — — —
302 480 711 878

Compound Annual Growth %

10y 5y 3y
Sales 8.62% 19.22% 27.57%
Cash Flow 0.00% 18.70% 0.00%
Earnings 14.25% 42.01% 60.86%
Book Value 7.62% 7.47% 18.06%

Revenue $m

Apr Jul Oct Jan Year
’26 291 384 — — —
’26 194 238 251 262 945
’25 158 227 257 232 874
’24 104 141 164 165 573
’23 100 118 118 119 455
’22 126 133 124 126 509
’21 60 87 127 117 392
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 113 97 — — —
’26 35 35 172 172 415
’25 18 73 32 45 168
’24 (1) 36 58 25 117
’23 (40) (17) (16) 43 (30)
’22 17 30 (5) (13) 28
’21 40 63 40 33 176
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 111 92 — — —
’26 35 33 172 171 411
’25 17 71 29 43 161
’24 (2) 35 57 24 114
’23 — — — 42 (33)
’23 (40) (17) (18) — (30)
’22 — — — (14) 27
Fiscal quarters ending in the months shown.

EPS $

Apr Jul Oct Jan Year
’26 3.24 3.76 — — —
’26 1.60 2.50 2.17 3.47 9.74
’25 0.58 1.31 2.00 2.22 6.15
’24 0.16 0.94 0.40 0.89 2.39
’23 0.50 0.30 0.56 1.00 2.33
’22 0.67 0.81 0.78 0.14 2.40
’21 (0.05) 0.36 0.60 0.60 1.51
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 41.79 34.90 32.43 29.91 36.60 31.26 36.11 43.44 101.02 305.69

Analyst estimates 2027–2029

Powerpack
High 76.70 47.53 51.95 54.50 55.99 42.15 48.51 165.33 399.30 805.75
People
People Employees 1,286 1,552 1,487 1,154 1,473 1,358 985 1,214 1,595 1,409
Revenue/emp, $m 0.52 0.58 0.32 0.21 0.27 0.38 0.46 0.47 0.55 0.67
Income, $m
Income, $m Revenue 675 893 482 239 392 509 455 573 874 945
Gross margin, % 21.73 16.73 17.10 (2.85) 15.83 19.58 18.98 14.10 16.13 20.50
EBT 115 113 47 (48) 25 47 46 49 111 161
EBT margin, % 16.97 12.61 9.79 (19.99) 6.34 9.24 10.11 8.53 12.72 16.99
Net income 77 72 52 (41) 24 36 35 32 85 138
Depreciation 3 4 4 5 5 4 3 2 2 2
Per share, $
Per share, $ Revenue 44.81 57.52 30.97 15.30 25.03 32.41 32.31 42.90 65.00 68.59
Earnings 4.67 4.64 3.34 (2.73) 1.52 2.43 2.35 2.42 6.35 10.00
Cash flow 17.19 (4.69) (7.21) 3.43 11.23 1.81 (2.13) 8.74 12.46 30.11
Capex (0.19) (0.31) (0.55) (0.45) (0.11) (0.09) (0.24) (0.21) (0.49) (0.28)
Free cash flow 17.01 (5.00) (7.77) 2.98 11.13 1.72 (2.37) 8.54 11.97 29.83
Book value 19.42 23.07 25.33 21.83 20.58 20.72 19.95 21.77 26.16 33.57
Shares, m 15 16 16 16 16 16 14 13 13 14
Valuation, ×
Valuation, × P/E 15.83 9.40 12.64 0.00 28.53 15.29 16.45 18.32 21.61 35.65
P/S 1.65 0.76 1.36 2.75 1.73 1.15 1.21 1.03 2.10 5.19
P/B 3.80 1.89 1.67 1.93 2.11 1.79 1.95 2.04 5.23 10.60
EV/Sales 0.87 0.27 0.75 1.38 0.57 0.28 0.49 0.31 1.50 4.24
EV/FCF 2.30 (3.13) (2.98) 7.09 1.28 5.31 (6.69) 1.58 8.16 9.75
Cash, $m
Cash, $m Operating cash flow 259 (73) (112) 54 176 28 (30) 117 168 415
Capex (3) (5) (9) (7) (2) (1) (3) (3) (7) (4)
Free cash flow 256 (78) (121) 47 174 27 (33) 114 161 411
Balance, $m
Balance, $m Working capital 237 302 335 278 270 284 236 245 301 421
Total debt — — — 2 2 4 5 — — —
Net debt (523) (434) (297) (328) (457) (440) (325) (412) (525) (895)
Shareholders’ equity 293 358 394 341 322 326 281 291 352 462
Returns, %
Returns, % ROA 13.34 12.13 10.21 (8.85) 4.38 6.62 6.35 5.95 11.92 13.62
ROIC 0.00 0.00 25.70 (265.04) 0.00 0.00 0.00 0.00 0.00 0.00
ROE 27.34 22.13 13.83 (11.61) 7.19 11.80 10.91 11.32 26.59 33.85
Negative figures in brackets.

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Charts ten years each

Argan, Inc. vs peers in Engineering & Construction (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
FLR Fluor Corporation $6.4B — (loss-making) 13.5× +8.82% (above 0%: growing) −94.46% (below 0%: shrinking) −825.71% (below 0%: shrinking) 4.13% 3.12% Compare
ECG Everus Construction Group, Inc. $5.7B 22.0× — +33.65% (above 0%: growing) +57.69% (above 0%: growing) +140.72% (above 0%: growing) 14.85% 9.08% Compare
AGX Argan, Inc. $5.2B 26.9× 58.0× +61.51% (above 0%: growing) +47.86% (above 0%: growing) +178.70% (above 0%: growing) 19.33% 14.79%
LGN Legence Corp. $4.9B — (loss-making) 13.0× +110.74% (above 0%: growing) n/m +106.83% (above 0%: growing) 17.45% (0.52%) Compare
GVA Granite Construction Incorporated $4.8B — (loss-making) 26.2× +29.30% (above 0%: growing) n/m +755.66% (above 0%: growing) 16.40% 8.71% Compare
ROAD Construction Partners, Inc. $4.7B 32.2× 38.5× +28.25% (above 0%: growing) +33.75% (above 0%: growing) −19.66% (below 0%: shrinking) 16.85% 10.94% Compare
KBR KBR, Inc. $4.6B 11.0× 9.6× +1.64% (above 0%: growing) +33.93% (above 0%: growing) −83.25% (below 0%: shrinking) 14.77% 8.67% Compare
MYRG MYR Group, Inc. $4.5B 26.4× 39.8× +20.15% (above 0%: growing) +88.24% (above 0%: growing) −283.31% (below 0%: shrinking) 13.19% 6.28% Compare
TPC Tutor Perini Corporation $4.1B 32.9× 19.8× +19.17% (above 0%: growing) +228.95% (above 0%: growing) −35.14% (below 0%: shrinking) 12.91% 7.19% Compare
Median of peers $4.7B 26.4× 19.8× +24.20% +45.81% −27.40% 14.81% 7.93%

All 51 Engineering & Construction stocks →

Argan, Inc. (AGX) key facts

  • Strength: Argan, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $944.6 million, up 8.06% from fiscal 2025.
  • Strength: Net income was $137.8 million, or $10.00 per share (basic), a net margin of 14.6%.
  • Argan, Inc. (AGX) is an Engineering & Construction company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, AGX traded at $345.56, a market capitalization of $5.2 billion.
  • At that price the stock trades at 26.9× trailing-twelve-month earnings and 4.1× sales; its P/E is higher than 72% of its own readings over the past ten years.
  • Argan, Inc. pays an annual dividend of $2.70 per share, a yield of 0.78%, with a payout ratio of 21.4%.
  • Return on equity was 33.9% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 6.04 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Argan, Inc. (AGX) Latest News

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stockrow.com/AGX · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com