AGXNYSEConstruction - Special Trade ContractorsFiscal year ends January 31
ARGAN INC
Financials through Q2 FY2026, quarter ended Jul 31, 2026Last filing: 10-Q on Sep 2, 2026
$355.44+9.88 (+2.86%)
Close on Oct 19, 2026
- Market cap
- $5.03B
- P/E (TTM)
- 28.1
- Dividend yield
- 0.49%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
20.5%+4.7 pts over 5 years
Operating margin
14.3%+8.4 pts over 5 years
Net margin
14.6%+8.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.1% | +27.6% | +19.2% | – | |
| Gross profit | +37.4% | +30.9% | +25.6% | +6.9% | |
| Operating income | +52.7% | +47.9% | +42.4% | +6.1% | |
| Net income | +61.2% | +60.9% | +42.0% | +14.3% | |
| EPS, diluted | +58.4% | +61.1% | +45.2% | +14.9% | |
| Free cash flow | +155.2% | – | +18.7% | – | |
| Dividend per share | +29.6% | +20.5% | +47.6% | +9.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 27.6% | 7.2% | 33.8% | |
| Return on assets | 13.3% | 4.4% | 13.6% | |
| Current ratio | 1.68 | 1.98 | 1.59 | |
| Capex to revenue | 0.4% | 0.4% | 0.4% | |
| Diluted shares | 16M | 16M | 14M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Argan generated $757.64M from operations and spent $217.33M on capital expenditure, dividends and share buybacks. 8% of that went back into the business.
Generated
$757.64M
Used
$217.33M
Capital expenditure$18.01M8%Dividends$86.85M40%Share buybacks$112.47M52%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin14.6%
×Asset turnover0.93×
×Equity multiplier2.48×
=Return on equity, FY202533.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 14.6% | 0.93× | 2.48× | 33.8% |
| FY2024 | 9.8% | 1.22× | 2.23× | 26.6% |
| FY2023 | 5.6% | 1.05× | 1.90× | 11.3% |
| FY2022 | 7.3% | 0.87× | 1.72× | 10.9% |
| FY2021 | 7.5% | 0.88× | 1.79× | 11.8% |
| FY2020 | 6.1% | 0.72× | 1.65× | 7.2% |
| FY2019 | -17.9% | 0.50× | 1.31× | -11.6% |
| FY2018 | 10.8% | 0.95× | 1.35× | 13.8% |
| FY2017 | 8.1% | 1.50× | 1.83× | 22.2% |
| FY2016 | 10.4% | 1.28× | 2.07× | 27.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$137.77M
- Cash generatingOperating cash flow above zero$414.72M
- Return on assets improvedROA up on the prior year14.3% → 16.5%
- Earnings backed by cashOperating cash flow above net income$414.72M vs $137.77M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.63 → 1.59
- No dilutionShare count did not rise14M → 14M
- Gross margin improvedGross margin up on the prior year16.13% → 20.50%
- More efficientAsset turnover rose1.46 → 1.13