Argan (AGX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Argan

NYSE•Industrials•Engineering & Construction

$383.15-10.58(-0.03%)Market open

Market Cap

$5.37B

P/E

30.0x

P/S

4.5x

P/B

10.6x

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.

How this company scores

ExcellentMetricSide Score: 85/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability22/25

Growth23/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 30.0x5y range 14.1x – 54.5x

Currently above its 20-quarter median.

P/S · 4.5x5y range 1.0x – 8.4x

Currently above its 20-quarter median.

P/B · 10.6x5y range 1.8x – 18.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Share Dilution

Watch

Shares outstanding rose 3.7% — mild dilution. Compare to earnings growth to assess the net per-share impact.

Price & Volume

Market Cap $5.37B

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.19B
Q. Revenue: $383.98M
TTM EBITDA: $184.71M
TTM Op. Income: $182.50M
Q. Op. Income: $56.80M
TTM Net Income: $179.31M
Q. Net Income: $53.30M
EPS: $3.8
Shares Out.: $14.03M

$1.19B in TTM revenue grew 29.0% YoY, reaching $383.98M last quarter. TTM EBITDA of $184.71M and TTM operating income of $182.50M show growth is flowing through to the bottom line. TTM net income of $179.31M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 19.3%
EBITDA Margin: 15.0%
Op. Margin: 14.8%
Net Margin: 13.9%

Op. margin of 14.8% is up 2.2% YoY — cost efficiency is improving. Net margin at 13.9% and gross margin of 19.3% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 30.0x
P/S Ratio: 4.5x
P/B Ratio: 10.6x

At 30.0x P/E, the stock trades within typical market levels. P/S of 4.5x and P/B of 10.6x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 6% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.40B
Cash: $364.48M
Long-Term Debt: N/A
Book Value: $506.84M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $96.97M
TTM Free Cash Flow: $545.70M
FCF Margin: 45.9%
FCF / Net Income: 3.0

TTM FCF of $545.70M on $96.97M in operating cash flow. The FCF / Net Income ratio of 3.0x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.