What is Argan Inc's earnings per share (EPS)?

Argan Inc (AGX) reported diluted earnings per share of $9.74 for fiscal year 2026. This represents a 58.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Argan Inc Financials

AGX

Source SEC Filings (10-K/10-Q) Updated Mar 26, 2026 Currency USD FYE March

This page shows Argan Inc (AGX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 63/100

Based on FY2026 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Argan Inc has an operating margin of 14.3%, meaning the company retains $14 of operating profit per $100 of revenue. This results in a moderate score of 54/100, indicating healthy but not exceptional operating efficiency. This is up from 10.1% the prior year.

Growth

Argan Inc's revenue grew 8.1% year-over-year to $944.6M, a solid pace of expansion. This earns a growth score of 47/100.

Leverage

Argan Inc carries a low D/E ratio of 1.57, meaning only $1.57 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 70/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Argan Inc's current ratio of 1.59 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.

Cash Flow

100

Argan Inc converts 43.5% of revenue into free cash flow ($410.8M). This strong cash generation earns a score of 100/100.

Returns

Argan Inc earns a strong 29.8% return on equity (ROE), meaning it generates $30 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is up from 23.5% the prior year.

Altman Z-Score Safe

8.72

Argan Inc scores 8.72, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.0B) relative to total liabilities ($724.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

5/9

Argan Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

3.01x

For every $1 of reported earnings, Argan Inc generates $3.01 in operating cash flow ($414.7M OCF vs $137.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$944.6M

YoY+8.1%

5Y CAGR+19.2%

Argan Inc generated $944.6M in revenue in fiscal year 2026. This represents an increase of 8.1% from the prior year.

EBITDA

$137.0M

YoY+51.4%

5Y CAGR+37.7%

10Y CAGR+6.1%

Argan Inc's EBITDA was $137.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 51.4% from the prior year.

Net Income

$137.8M

YoY+61.2%

5Y CAGR+42.0%

10Y CAGR+14.3%

Argan Inc reported $137.8M in net income in fiscal year 2026. This represents an increase of 61.2% from the prior year.

EPS (Diluted)

$9.74

YoY+58.4%

5Y CAGR+45.2%

10Y CAGR+14.9%

Argan Inc earned $9.74 per diluted share (EPS) in fiscal year 2026. This represents an increase of 58.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$410.8M

YoY+155.2%

5Y CAGR+18.7%

Argan Inc generated $410.8M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 155.2% from the prior year.

Cash & Debt

$339.5M

YoY+79.4%

5Y CAGR-3.1%

10Y CAGR+5.9%

Argan Inc held $339.5M in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share

$1.75

YoY+29.6%

5Y CAGR-10.2%

10Y CAGR+9.6%

Argan Inc paid $1.75 per share in dividends in fiscal year 2026. This represents an increase of 29.6% from the prior year.

Shares Outstanding

14M

YoY+2.3%

5Y CAGR-2.4%

10Y CAGR-0.6%

Argan Inc had 14M shares outstanding in fiscal year 2026. This represents an increase of 2.3% from the prior year.

Margins & Returns

Gross Margin

20.5%

YoY+4.4pp

5Y CAGR+4.7pp

Argan Inc's gross margin was 20.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 4.4 percentage points from the prior year.

Operating Margin

14.3%

YoY+4.2pp

5Y CAGR+8.4pp

Argan Inc's operating margin was 14.3% in fiscal year 2026, reflecting core business profitability. This is up 4.2 percentage points from the prior year.

Net Margin

14.6%

YoY+4.8pp

5Y CAGR+8.5pp

Argan Inc's net profit margin was 14.6% in fiscal year 2026, showing the share of revenue converted to profit. This is up 4.8 percentage points from the prior year.

Return on Equity

29.8%

YoY+6.3pp

5Y CAGR+22.5pp

10Y CAGR+14.2pp

Argan Inc's ROE was 29.8% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 6.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$9.9M

YoY+548.1%

Argan Inc spent $9.9M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 548.1% from the prior year.

Capital Expenditures

$3.9M

YoY-41.1%

5Y CAGR+18.0%

10Y CAGR+2.2%

Argan Inc invested $3.9M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 41.1% from the prior year.

AGX Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	$944.6M+8.1%	$874.2M+52.5%	$573.3M+26.0%	$455.0M-10.7%	$509.4M+29.9%	$392.2M
Cost of Revenue	$750.9M+2.4%	$733.2M+48.9%	$492.5M+33.6%	$368.7M-10.0%	$409.6M+24.1%	$330.1M
Gross Profit	$193.7M+37.4%	$141.0M+74.4%	$80.8M-6.4%	$86.4M-13.4%	$99.7M+60.7%	$62.1M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$59.0M+11.7%	$52.8M+19.0%	$44.4M-0.7%	$44.7M-5.6%	$47.3M+21.2%	$39.0M
Operating Income	$134.7M+52.7%	$88.2M+141.9%	$36.5M-12.5%	$41.7M-6.4%	$44.5M+93.3%	$23.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$22.7M-11.7%	$25.7M+55.3%	$16.6M+46.7%	$11.3M-0.5%	$11.4M+957.4%	$1.1M
Net Income	$137.8M+61.2%	$85.5M+164.1%	$32.4M-2.2%	$33.1M-13.5%	$38.2M+60.3%	$23.9M
EPS (Diluted)	$9.74+58.4%	$6.15+157.3%	$2.39+2.6%	$2.33-2.9%	$2.40+58.9%	$1.51

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$251.2M+5.6%	$237.7M+22.8%	$193.7M-16.7%	$232.5M-9.5%	$257.0M+13.2%	$227.0M+44.0%	$157.7M-4.2%	$164.6M
Cost of Revenue	$204.2M+5.5%	$193.5M+23.4%	$156.8M-15.2%	$184.9M-13.1%	$212.7M+8.6%	$195.9M+40.2%	$139.7M-0.8%	$140.9M
Gross Profit	$46.9M+6.1%	$44.3M+20.1%	$36.9M-22.6%	$47.6M+7.4%	$44.3M+42.5%	$31.1M+73.3%	$17.9M-24.1%	$23.6M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$14.3M+0.7%	$14.2M+13.5%	$12.5M-16.2%	$14.9M+6.8%	$14.0M+12.6%	$12.4M+8.8%	$11.4M-4.1%	$11.9M
Operating Income	$32.6M+8.6%	$30.1M+23.5%	$24.3M-25.5%	$32.7M+7.7%	$30.3M+62.4%	$18.7M+186.5%	$6.5M-44.4%	$11.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$9.0M+2381.2%	$361K-95.0%	$7.2M-0.4%	$7.3M-19.0%	$9.0M+47.4%	$6.1M+77.3%	$3.4M-30.8%	$5.0M
Net Income	$30.7M-12.9%	$35.3M+56.4%	$22.6M-28.1%	$31.4M+12.0%	$28.0M+53.9%	$18.2M+130.9%	$7.9M-34.4%	$12.0M
EPS (Diluted)	$2.17-13.2%	$2.50+56.2%	$1.60	N/A	$2.00+52.7%	$1.31+125.9%	$0.58	N/A

AGX Balance Sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Total Assets	$1.2B+49.8%	$792.2M+26.9%	$624.4M+31.3%	$475.7M-3.5%	$492.8M-20.3%	$618.0M
Current Assets	$1.1B+53.4%	$738.1M+28.5%	$574.3M+35.1%	$425.0M-5.0%	$447.6M-19.9%	$559.0M
Cash & Equivalents	$339.5M+79.4%	$189.3M-8.9%	$207.7M+6.0%	$195.9M+1.9%	$192.3M-51.5%	$396.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$133.7M+25.5%	$106.5M+77.6%	$60.0M-1.3%	$60.8M+68.6%	$36.0M+11.3%	$32.4M
Goodwill	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M+0.3%	$27.9M
Total Liabilities	$724.1M+69.1%	$428.3M+29.3%	$331.3M+67.5%	$197.7M+3.6%	$190.8M-33.6%	$287.2M
Current Liabilities	$711.3M+68.2%	$422.9M+29.1%	$327.6M+70.3%	$192.4M+3.3%	$186.3M-34.2%	$283.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$462.3M+27.0%	$363.9M+24.1%	$293.2M+5.5%	$277.9M-8.2%	$302.8M-8.0%	$329.1M
Retained Earnings	$406.2M+31.0%	$310.2M+35.2%	$229.4M+11.0%	$206.6M+7.3%	$192.5M+11.3%	$172.9M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$1.1B+19.1%	$882.7M+11.4%	$792.2M-5.3%	$836.2M+8.8%	$768.9M+5.8%	$726.6M+16.4%	$624.4M+4.4%	$598.2M
Current Assets	$997.2M+20.3%	$828.8M+12.3%	$738.1M-5.5%	$781.3M+8.9%	$717.1M+6.3%	$675.0M+17.5%	$574.3M+5.0%	$547.2M
Cash & Equivalents	$306.3M+72.2%	$177.8M-6.0%	$189.3M+30.3%	$145.3M-17.2%	$175.3M-24.6%	$232.7M+12.0%	$207.7M+5.4%	$197.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$170.4M-4.9%	$179.2M+68.2%	$106.5M-39.4%	$175.8M+33.5%	$131.7M+38.1%	$95.3M+59.0%	$60.0M+26.7%	$47.3M
Goodwill	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M0.0%	$28.0M
Total Liabilities	$631.2M+28.9%	$489.5M+14.3%	$428.3M-11.6%	$484.4M+10.0%	$440.2M+5.2%	$418.5M+26.3%	$331.3M+7.8%	$307.3M
Current Liabilities	$619.9M+28.0%	$484.3M+14.5%	$422.9M-11.9%	$479.9M+10.0%	$436.2M+5.1%	$415.1M+26.7%	$327.6M+8.4%	$302.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$419.7M+6.7%	$393.2M+8.0%	$363.9M+3.4%	$351.9M+7.0%	$328.7M+6.7%	$308.1M+5.1%	$293.2M+0.8%	$290.9M
Retained Earnings	$364.0M+7.0%	$340.3M+9.7%	$310.2M+6.0%	$292.7M+9.9%	$266.3M+9.4%	$243.5M+6.2%	$229.4M+1.7%	$225.5M

AGX Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	$414.7M+147.5%	$167.6M+43.4%	$116.9M+488.7%	-$30.1M-205.8%	$28.4M-83.9%	$176.0M
Capital Expenditures	$3.9M-41.1%	$6.6M+138.9%	$2.8M-18.3%	$3.4M+137.1%	$1.4M-16.2%	$1.7M
Free Cash Flow	$410.8M+155.2%	$161.0M+41.1%	$114.1M+441.3%	-$33.4M-223.9%	$27.0M-84.5%	$174.3M
Investing Cash Flow	-$182.0M+6.0%	-$193.6M-186.4%	-$67.6M-7.1%	-$63.1M-796.9%	-$7.0M-110.5%	$67.0M
Financing Cash Flow	-$42.6M-63.4%	-$26.1M0.0%	-$26.1M+68.5%	-$82.8M-139.3%	-$34.6M+23.8%	-$45.4M
Dividends Paid	$24.3M+32.9%	$18.3M+24.4%	$14.7M+5.2%	$14.0M-10.9%	$15.7M-66.7%	$47.0M
Share Buybacks	$9.9M+548.1%	$1.5M-87.8%	$12.5M-81.7%	$68.2M+234.9%	$20.4M	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	$172.5M+398.5%	$34.6M-2.0%	$35.3M-20.9%	$44.6M+40.4%	$31.8M-56.8%	$73.5M+315.6%	$17.7M-28.1%	$24.6M
Capital Expenditures	$583K-65.6%	$1.7M+328.9%	$395K-71.1%	$1.4M-46.4%	$2.5M+8.4%	$2.3M+629.5%	$322K-47.5%	$613K
Free Cash Flow	$171.9M+422.4%	$32.9M-5.7%	$34.9M-19.3%	$43.3M+48.0%	$29.2M-58.9%	$71.1M+309.7%	$17.4M-27.6%	$24.0M
Investing Cash Flow	-$37.1M+5.2%	-$39.2M-257.2%	$24.9M+137.3%	-$66.8M+18.9%	-$82.3M-92.1%	-$42.8M-2378.8%	-$1.7M+69.8%	-$5.7M
Financing Cash Flow	-$7.5M-8.6%	-$6.9M+61.5%	-$18.0M-113.1%	-$8.4M-21.8%	-$6.9M-24.6%	-$5.6M-8.7%	-$5.1M+36.1%	-$8.0M
Dividends Paid	$7.1M+36.2%	$5.2M+2.1%	$5.1M+1.3%	$5.0M-3.7%	$5.2M+28.5%	$4.0M+0.4%	$4.0M+0.7%	$4.0M
Share Buybacks	$0-100.0%	$199K-97.1%	$6.8M+680.1%	$878K+91.3%	$459K	$0-100.0%	$187K-95.3%	$4.0M

AGX Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	20.5%+4.4pp	16.1%+2.0pp	14.1%-4.9pp	19.0%-0.6pp	19.6%+3.8pp	15.8%
Operating Margin	14.3%+4.2pp	10.1%+3.7pp	6.4%-2.8pp	9.2%+0.4pp	8.7%+2.9pp	5.9%
Net Margin	14.6%+4.8pp	9.8%+4.1pp	5.6%-1.6pp	7.3%-0.2pp	7.5%+1.4pp	6.1%
Return on Equity	29.8%+6.3pp	23.5%+12.4pp	11.0%-0.9pp	11.9%-0.7pp	12.6%+5.4pp	7.2%
Return on Assets	11.6%+0.8pp	10.8%+5.6pp	5.2%-1.8pp	7.0%-0.8pp	7.8%+3.9pp	3.9%
Current Ratio	1.59-0.2	1.750.0	1.75-0.5	2.21-0.2	2.40+0.4	1.97
Debt-to-Equity	1.57+0.4	1.18+0.0	1.13+0.4	0.71+0.1	0.63-0.2	0.87
FCF Margin	43.5%+25.1pp	18.4%-1.5pp	19.9%+27.3pp	-7.3%-12.7pp	5.3%-39.1pp	44.5%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	18.7%+0.1pp	18.6%-0.4pp	19.0%-1.5pp	20.5%+3.2pp	17.3%+3.5pp	13.7%+2.3pp	11.4%-3.0pp	14.4%
Operating Margin	13.0%+0.3pp	12.6%+0.1pp	12.6%-1.5pp	14.1%+2.3pp	11.8%+3.6pp	8.2%+4.1pp	4.1%-3.0pp	7.1%
Net Margin	12.2%-2.6pp	14.8%+3.2pp	11.6%-1.8pp	13.5%+2.6pp	10.9%+2.9pp	8.0%+3.0pp	5.0%-2.3pp	7.3%
Return on Equity	7.3%-1.7pp	9.0%+2.8pp	6.2%-2.7pp	8.9%+0.4pp	8.5%+2.6pp	5.9%+3.2pp	2.7%-1.4pp	4.1%
Return on Assets	2.9%-1.1pp	4.0%+1.1pp	2.9%-0.9pp	3.8%+0.1pp	3.6%+1.1pp	2.5%+1.2pp	1.3%-0.8pp	2.0%
Current Ratio	1.61-0.1	1.71-0.0	1.75+0.1	1.63-0.0	1.64+0.0	1.63-0.1	1.75-0.1	1.81
Debt-to-Equity	1.50+0.3	1.25+0.1	1.18-0.2	1.38+0.0	1.34-0.0	1.36+0.2	1.13+0.1	1.06
FCF Margin	68.5%+54.6pp	13.8%-4.2pp	18.0%-0.6pp	18.6%+7.2pp	11.4%-20.0pp	31.3%+20.3pp	11.0%-3.6pp	14.6%

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Frequently Asked Questions

What is Argan Inc's annual revenue?

Argan Inc (AGX) reported $944.6M in total revenue for fiscal year 2026. This represents a 8.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Argan Inc's revenue growing?

Argan Inc (AGX) revenue grew by 8.1% year-over-year, from $874.2M to $944.6M in fiscal year 2026.

Is Argan Inc profitable?

Yes, Argan Inc (AGX) reported a net income of $137.8M in fiscal year 2026, with a net profit margin of 14.6%.

What is Argan Inc's EBITDA?

Argan Inc (AGX) had EBITDA of $137.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is Argan Inc's gross margin?

Argan Inc (AGX) had a gross margin of 20.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Argan Inc's operating margin?

Argan Inc (AGX) had an operating margin of 14.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Argan Inc's net profit margin?

Argan Inc (AGX) had a net profit margin of 14.6% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Argan Inc pay dividends?

Yes, Argan Inc (AGX) paid $1.75 per share in dividends during fiscal year 2026.

What is Argan Inc's return on equity (ROE)?

Argan Inc (AGX) has a return on equity of 29.8% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Argan Inc's free cash flow?

Argan Inc (AGX) generated $410.8M in free cash flow during fiscal year 2026. This represents a 155.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Argan Inc's operating cash flow?

Argan Inc (AGX) generated $414.7M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Argan Inc's total assets?

Argan Inc (AGX) had $1.2B in total assets as of fiscal year 2026, including both current and long-term assets.

What are Argan Inc's capital expenditures?

Argan Inc (AGX) invested $3.9M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

Does Argan Inc buy back shares?

Yes, Argan Inc (AGX) spent $9.9M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Argan Inc have outstanding?

Argan Inc (AGX) had 14M shares outstanding as of fiscal year 2026.

What is Argan Inc's current ratio?

Argan Inc (AGX) had a current ratio of 1.59 as of fiscal year 2026, which is generally considered healthy.

What is Argan Inc's debt-to-equity ratio?

Argan Inc (AGX) had a debt-to-equity ratio of 1.57 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Argan Inc's return on assets (ROA)?

Argan Inc (AGX) had a return on assets of 11.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Argan Inc's Altman Z-Score?

Argan Inc (AGX) has an Altman Z-Score of 8.72, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Argan Inc's Piotroski F-Score?

Argan Inc (AGX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Argan Inc's earnings high quality?

Argan Inc (AGX) has an earnings quality ratio of 3.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Argan Inc?

Argan Inc (AGX) scores 63 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.