Argan Inc
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 239.40 $ to 798.60 $ · Last price: 383.00 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Engineering & Construction
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Argan Inc AGX | 5.8 | 33.8 | 23.2 | 20.7 | 15.6 | 8.1 | 60.7 |
| Quanta Services Inc PWR | 97.5 | 80.3 | 33.7 | 15.5 | 4.2 | 19.8 | 64.1 |
| Comfort Systems USA Inc FIX | 60.0 | 41.7 | 29.0 | 25.7 | 7.9 | 29.5 | 106.7 |
| EMCOR Group Inc EME | 32.5 | 22.3 | 15.2 | 19.4 | 8.7 | 16.6 | 19.7 |
| Jacobs Solutions Inc. J | 16.7 | 43.2 | 21.8 | 22.1 | -0.9 | 4.6 | -1.1 |
| MasTec Inc MTZ | 16.7 | 42.4 | 16.9 | 12.9 | 3.7 | 16.2 | 7.5 |
| Api Group Corp APG | 16.5 | – | 20.3 | 31.4 | 7.3 | 12.7 | 6.7 |
| Sterling Construction Company Inc STRL | 16.2 | 41.9 | 20.2 | 23.8 | 17.2 | 17.7 | 51.1 |
| Topbuild Corp BLD | 12.2 | 24.0 | 12.9 | 29.0 | 12.2 | 1.5 | 2.7 |
| Median of companies shown | 16.7 | 41.8 | 20.3 | 22.1 | 7.9 | 16.2 | 19.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 675 | 112 | 70 | 4.50 | 259 | 292 | 644 |
| 2018 | 893 | 107 | 72 | 4.56 | -73 | 358 | 543 |
| 2019 | 482 | 40 | 52 | 3.32 | -112 | 395 | 477 |
| 2020 | 239 | -56 | -43 | -2.75 | 54 | 339 | 488 |
| 2021 | 392 | 23 | 24 | 1.51 | 175 | 321 | 603 |
| 2022 | 509 | 45 | 38 | 2.40 | 28 | 326 | 554 |
| 2023 | 455 | 42 | 33 | 2.33 | -30 | 281 | 489 |
| 2024 | 573 | 36 | 32 | 2.39 | 117 | 291 | 598 |
| 2025 | 874 | 88 | 85 | 6.15 | 168 | 352 | 836 |
| 2026 | 945 | 135 | 138 | 9.71 | 415 | 462 | 1,186 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | 2.22 | 150.20 | 233 | 41.30 | 13.50 | 45 | 43 |
| 2025: Q2 | 1.60 | 175.10 | 194 | 22.80 | 11.60 | 35 | 35 |
| 2025: Q3 | 2.50 | 90.40 | 238 | 4.70 | 14.80 | 35 | 33 |
| 2025: Q4 | 2.17 | 8.80 | 251 | -2.30 | 12.20 | 173 | 172 |
| 2026: Q1 | 3.47 | 56.40 | 262 | 12.70 | 18.80 | 172 | 171 |
| 2026: Q2 | 3.24 | 103.00 | 291 | 50.20 | 15.80 | 113 | 111 |
| 2026: Q3 | 3.76 | 50.40 | 384 | 61.50 | 13.90 | 97 | 92 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 32 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Growth
- Ben Bennett: Focus List
- Ben Bennett: Power Screen
- Dan Zanger: Leader
- EPS & Revenue Power
- EPS Acceleration
- Growth Gems
- Martin Zweig: Growth with Reason
- Patrick Walker: 30% EPS Growth
- Patrick Walker: 40, 40 Screen
- Quality Growth
- Ted Zhang: Super Stock Universe
- William O'Neil (CAN SLIM)
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- High ADR (≥5%)
- Jeff Sun
- Mark Minervini: Trend Criteria — 1 Month
- Near 52-Week High
- Oliver Kell: Doublers
- RS Leader (≥90)
- RS New Highs
- Richard Moglen: Top Performers 3/6 Month
- Stage 2 Leader
- Stan Weinstein: Stage 2
- Strength on Stress Days
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 01/31/2027 | 13.06 | 12.51 – 13.80 | 1,388 | 34.0% | 5 |
| 01/31/2028 | 16.23 | 12.66 – 19.68 | 1,685 | 24.3% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -1.1% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $545.7M |
|---|---|
| Market cap | $5.77B |
| Free cash flow in year ten | $489.4M |
| Terminal value as a share of market value | 44.7% |
For comparison: over the past five years free cash flow grew by 18.9% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Argan setzt KI laut eigenen 10-K-Angaben bislang nur begrenzt intern zur Unterstützung von Geschäftsprozessen ein (u. a. Wissensbewahrung, Risikoerkennung, virtuelle Assistenz) und erzielt keine KI-Umsätze — der KI-Boom wirkt nur indirekt als Stromnachfrage-Treiber für das Kraftwerksbau-Geschäft.
View the full file — quotes, sources, reviewed filings
„We may use artificial intelligence, machine learning, and similar technologies (“AI”), including AI-enabled features in third-party products, to support our business processes. Although our current use of AI is limited, we may expand our use of these technologies over time."
Wir setzen möglicherweise künstliche Intelligenz, maschinelles Lernen und ähnliche Technologien („KI“) ein, einschließlich KI-gestützter Funktionen in Produkten von Drittanbietern, um unsere Geschäftsprozesse zu unterstützen. Obwohl unser derzeitiger KI-Einsatz begrenzt ist, könnten wir die Nutzung dieser Technologien im Laufe der Zeit ausweiten.
10-K · 2026-03-26 · View SEC filing
„Currently, our use of AI is limited, but we may expand its integration into our business processes and solutions in the future. AI, including third-party AI tools, may be used in areas such as knowledge retention, risk detection, and virtual assistance."
Derzeit ist unser KI-Einsatz begrenzt, wir könnten die Integration in unsere Geschäftsprozesse und Lösungen künftig jedoch ausweiten. KI, einschließlich KI-Werkzeugen von Drittanbietern, kann in Bereichen wie Wissensbewahrung, Risikoerkennung und virtueller Assistenz eingesetzt werden.
10-K · 2025-03-27 · View SEC filing
„In the U.S., electricity demand has reached its highest level in two decades, driven by the build-out of data centers supporting artificial intelligence technologies, the adoption of electric vehicles, and the reshoring of manufacturing activities."
In den USA hat die Stromnachfrage den höchsten Stand seit zwei Jahrzehnten erreicht, getrieben vom Ausbau der Rechenzentren für Künstliche-Intelligenz-Technologien, der Verbreitung von Elektrofahrzeugen und der Rückverlagerung von Produktionsstätten.
10-Q · 2026-06-04 · View SEC filing
Filings Reviewed: 10-Q 2026-06-04 · 10-Q 2025-12-04 · 10-Q 2025-09-04 · 10-Q 2025-06-04 · 10-K 2026-03-26 · 10-K 2025-03-27
Rated on July 7, 2026 · How the Rating Is Built
Earnings calls
What the Earnings Calls Reveal
We reviewed ten earnings call transcripts of Argan (AGX) from fiscal 2024-Q4 through fiscal 2027-Q1. The pattern is unusually clear: management underpromises and then beats its own targets - backlog grew from 0.76 billion USD (2024-Q4) to roughly 3 billion USD (2026-Q3), and the conservative margin benchmarks were beaten throughout. Two footnotes remain: the Kilroot claims of more than 25 million USD vanished from the calls without comment after 2025-Q2, and the low-carbon share metric highlighted through 2025-Q3 was quietly dropped from 2025-Q4 onward. Overall, management statements proved reliable across ten quarters.
Underpromise, overdeliver: backlog guidance consistently met
In 2025-Q2 CEO Watson announced 'multiple gas power plants under contract' within 5 to 10 months; by the 2025-Q4 call a 700 MW gas plant with full notice to proceed and the 1.2 GW SLEC contract were signed. In 2025-Q3 he promised backlog 'significantly in excess of 1 billion USD' by early 2025 - delivered with 1.4 billion USD at fiscal 2025 year end and 1.9 billion USD in 2026-Q1. In 2026-Q1 the target was 'significantly over 2 billion' by year end - by 2026-Q3 backlog stood at roughly 3 billion USD. This pattern of cautious guidance and overdelivery runs through all ten calls. One caveat: the time windows were occasionally adjusted, for example in 2025-Q3 when '5 to 10 months' became eight months counted from December.
Margin benchmarks set conservatively and clearly beaten
In 2025-Q3 management guided gross margin for the following quarters to '14 to 16 percent or slightly higher' - the actual figures were 20.5 percent (2025-Q4) and 19 percent (2026-Q1). The '16-plus percent' benchmark given for fiscal 2026 ended at 20.5 percent for the full year, with 25 percent in the final quarter 2026-Q4. At the same time, management has refused numeric revenue or earnings guidance for years and answered the recurring analyst question on sustainable margins in 2026-Q2, 2026-Q3, 2026-Q4 and 2027-Q1 only with directional markers ('too early to tell', most recently 'high teens and low 20s'). Since the stated benchmarks were beaten again and again, we read this as an openly communicated policy of caution, not as evasion.
Kilroot: claims worth millions vanish from the calls
According to the 2024-Q4 through 2025-Q2 calls, the Irish Kilroot project cost Argan a cumulative double-digit million loss; in 2024-Q4 management still expected full completion in the first half of 2024 - instead, on May 3, 2024 the subsidiary APC served a termination notice and vacated the site (2025-Q1). At the same time, management announced in 2024-Q4 and 2025-Q1 that it would 'vigorously pursue' claims of more than 25 million USD, which were expected to 'increase materially'; the customer in turn drew a 9.2 million USD letter of credit. After a brief update in 2025-Q2, not a single word followed in seven subsequent calls through 2027-Q1, and analysts did not ask either. From the perspective of call communication the outcome remains open - understandable given ongoing litigation, but an unresolved item for shareholders.
Metric shift: low-carbon share disappears as gas dominates
From 2024-Q4 through 2025-Q3 management promoted the low-carbon share of backlog every quarter: 83, 86, 91, finally 92 percent. From 2025-Q4 onward this metric no longer appears; instead the gas-versus-renewables split is reported, shifting from 54 to 42 percent (2025-Q4) to 79 to 13 percent (2027-Q1). The strategy shift itself was openly justified - gas plants being 'the core of our growth engine' (2025-Q4) - but the previously highlighted climate metric was quietly retired. In 2027-Q1 Watson conceded for the first time that 'demand for these has softened' regarding renewables. Anyone following the calls over the years sees a classic swap of the showcase metric to match market conditions.
Project clocks: mostly early, once later than stated
For the flagship Trumbull project (950 MW, Ohio) the completion guidance was tightened from '2026' (2024-Q4) to 'Q4 fiscal 2026' (2025-Q3) and then beaten with substantial completion in December 2025 (2026-Q4); the Louisiana LNG job was also finished early according to 2026-Q2. In the other direction: per 2025-Q4 and 2026-Q1 the third Illinois solar project was expected to finish within fiscal 2026, but reached substantial completion only in quarter 2027-Q1 - nevertheless labeled 'ahead of schedule' versus the contract plan, while the company's own fiscal-year statement went unmentioned. Economically immaterial, but worth noting as an example of positive framing. The capacity figure of 10 to 12 parallel projects has been repeated consistently and unchanged since 2026-Q2.
Management promises
- 2025-Q2 — Multiple gas power plants under contract and generating revenue within 5 to 10 months. By 2025-Q4 the 700 MW plant (full notice to proceed) and the 1.2 GW SLEC contract were signed - within the promised window. kept
- 2025-Q3 — Backlog significantly above 1 billion USD by early 2025. Backlog stood at 1.4 billion USD as of Jan 31, 2025 and 1.9 billion USD by 2026-Q1 - clearly overdelivered. kept
- 2026-Q1 — Backlog significantly above 2 billion USD by the end of the calendar year. By 2026-Q3 backlog stood at roughly 3 billion USD, driven among others by the Texas projects Basin Ranch (1.4 GW) and roughly 860 MW. kept
- 2025-Q3 — Completion of the Trumbull Energy Center in the fourth fiscal quarter of 2026. Substantial completion in December 2025, per 2026-Q4 even ahead of schedule; final completion in 2027-Q1. kept
- 2025-Q4 — Completion of the third Illinois solar plus battery project within fiscal 2026. Substantial completion only in quarter 2027-Q1 (February to April 2026), after the fiscal year end; presented by management as ahead of the contract schedule - the missed fiscal-year statement went unmentioned. Economically immaterial. broken
- 2024-Q4 — Vigorous pursuit of the Kilroot claims of more than 25 million USD. Last update in 2025-Q2; in the seven calls afterwards through 2027-Q1 not a word on the status or outcome of the claims. open
Based on public earnings call transcripts. Reviewed: 10 transcripts 2024-Q4 through 2027-Q1.
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 27.6%
- More than 10% revenue growth is expected for the coming year 25.4%
- Share count grows by less than 3% a year 0.0%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 51.6%
- Gross margin at 40% or higher and without meaningful erosion 20.5%
- Goodwill from acquisitions does not grow faster than revenue 2.4%
- Net debt below twice EBITDA 889 m net cash
- Operating cash flow covers the profits of the last three years 444 m
- Return on capital at 15% or higher, or up versus two years ago 28.1%
- Insiders hold at least 10% or are net buyers 4.2%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
6/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 3.8%
- Exp. sales growth 3Y > 5% 33.6%
- EBIT growth 10Y > 5% 2.0%
- Exp. EBIT growth 3Y > 5% 29.3%
- Net debt < 4x EBIT -6.6x
- EBIT positive, 10Y straight 9
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 31.8%
- ROCE > 15% 28.1%
- Expected return > 10% 38.5%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Jul 31, 2026 | Jeffrey John Ronald Jr. | Director | Sell | 5,716 | 579.64 | 3,313,222 |
| Apr 21, 2026 | Charles Edwin Iv Collins | CEO | Sell | 11,068 | 621.61 | 6,879,979 |
| Apr 21, 2026 | John Ronald Jr. Jeffrey | Director | Sell | 3,636 | 615.40 | 2,237,594 |
| Apr 20, 2026 | Charles Edwin Iv Collins | CEO | Sell | 2,500 | 610.00 | 1,525,000 |
The company
About the Company
Argan, Inc. bietet über ihre Tochtergesellschaften Engineering-, Beschaffungs-, Bau-, Inbetriebnahme-, Wartungs-, Projektentwicklungs- und technische Beratungsdienste für den Stromerzeugungsmarkt in den USA, der Republik Irland und dem Vereinigten Königreich an.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 1,409
- Headquarters
- Arlington, VA
- Address
- 4075 Wilson Boulevard, 22203 Arlington, United States
- Phone
- 301 315 0027
- Website
- arganinc.com
- IPO Date
- 08/18/1995
- ISIN
- US04010E1091
- Stock Split
- 1:15 on 10/09/2001
- Stock Split
- 3:2 on 03/16/1989
Management
| Name | Title | Birth Year |
|---|---|---|
| David Hibbert Watson CPA | CEO, President & Director | 1975 |
| Joshua S. Baugher | Senior VP, CFO & Treasurer | 1981 |
| Charles Edwin Collins IV | Chief Executive Officer of Gemma Power Systems, LLC | 1977 |
| Michael J. Hundley | Senior VP of Legal & Corporate Secretary | – |
| Brian Orlandi | CEO of SMC Infrastructure Solutions (SMCiS) | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.