Argan Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Argan Inc has an operating margin of 10.1%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 50/100, indicating healthy but not exceptional operating efficiency. This is up from 6.4% the prior year.
Argan Inc's revenue surged 52.5% year-over-year to $874.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Argan Inc carries a low D/E ratio of 1.18, meaning only $1.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 68/100, indicating a strong balance sheet with room for future borrowing.
Argan Inc's current ratio of 1.75 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
Argan Inc converts 18.4% of revenue into free cash flow ($161.0M). This strong cash generation earns a score of 92/100.
Argan Inc earns a strong 23.5% return on equity (ROE), meaning it generates $23 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 94/100. This is up from 11.0% the prior year.
Argan Inc scores 10.46, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.7B) relative to total liabilities ($428.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Argan Inc passes 6 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), both operating efficiency signals pass.
For every $1 of reported earnings, Argan Inc generates $1.96 in operating cash flow ($167.6M OCF vs $85.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Argan Inc (AGX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Key Financial Metrics
Argan Inc generated $874.2M in revenue in fiscal year 2025. This represents an increase of 52.5% from the prior year.
Argan Inc's EBITDA was $90.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 132.8% from the prior year.
Argan Inc generated $161.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 41.1% from the prior year.
Argan Inc reported $85.5M in net income in fiscal year 2025. This represents an increase of 164.1% from the prior year.
Argan Inc earned $6.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 157.3% from the prior year.
Argan Inc held $189.3M in cash against $0 in long-term debt as of fiscal year 2025.
Argan Inc paid $1.35 per share in dividends in fiscal year 2025. This represents an increase of 22.7% from the prior year.
Argan Inc had 14M shares outstanding in fiscal year 2025. This represents an increase of 3.0% from the prior year.
Argan Inc's gross margin was 16.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.0 percentage points from the prior year.
Argan Inc's operating margin was 10.1% in fiscal year 2025, reflecting core business profitability. This is up 3.7 percentage points from the prior year.
Argan Inc's net profit margin was 9.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.1 percentage points from the prior year.
Argan Inc's ROE was 23.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.4 percentage points from the prior year.
Argan Inc spent $1.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 87.8% from the prior year.
Argan Inc invested $6.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 138.9% from the prior year.
AGX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $251.2M+5.6% | $237.7M+22.8% | $193.7M-24.6% | $257.0M+13.2% | $227.0M+44.0% | $157.7M-4.2% | $164.6M+0.5% | $163.8M |
| Cost of Revenue | $204.2M+5.5% | $193.5M+23.4% | $156.8M-26.3% | $212.7M+8.6% | $195.9M+40.2% | $139.7M-0.8% | $140.9M-2.5% | $144.5M |
| Gross Profit | $46.9M+6.1% | $44.3M+20.1% | $36.9M-16.8% | $44.3M+42.5% | $31.1M+73.3% | $17.9M-24.1% | $23.6M+22.9% | $19.2M |
| 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-10.5% | $14.0M+12.6% | $12.4M+8.8% | $11.4M-4.1% | $11.9M+4.7% | $11.4M |
| Operating Income | $32.6M+8.6% | $30.1M+23.5% | $24.3M-19.7% | $30.3M+62.4% | $18.7M+186.5% | $6.5M-44.4% | $11.7M+49.2% | $7.9M |
| 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-19.3% | $9.0M+47.4% | $6.1M+77.3% | $3.4M-30.8% | $5.0M-19.1% | $6.1M |
| Net Income | $30.7M-12.9% | $35.3M+56.4% | $22.6M-19.5% | $28.0M+53.9% | $18.2M+130.9% | $7.9M-34.4% | $12.0M+119.9% | $5.5M |
| EPS (Diluted) | $2.17-13.2% | $2.50+56.2% | $1.60-20.0% | $2.00+52.7% | $1.31+125.9% | $0.58-34.8% | $0.89+122.5% | $0.40 |
AGX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.1B+19.1% | $882.7M+11.4% | $792.2M+3.0% | $768.9M+5.8% | $726.6M+16.4% | $624.4M+4.4% | $598.2M+6.1% | $563.7M |
| Current Assets | $997.2M+20.3% | $828.8M+12.3% | $738.1M+2.9% | $717.1M+6.3% | $675.0M+17.5% | $574.3M+5.0% | $547.2M+6.4% | $514.1M |
| Cash & Equivalents | $306.3M+72.2% | $177.8M-6.0% | $189.3M+7.9% | $175.3M-24.6% | $232.7M+12.0% | $207.7M+5.4% | $197.0M+6.2% | $185.6M |
| 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-19.1% | $131.7M+38.1% | $95.3M+59.0% | $60.0M+26.7% | $47.3M-5.2% | $49.9M |
| 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-2.7% | $440.2M+5.2% | $418.5M+26.3% | $331.3M+7.8% | $307.3M+10.2% | $278.8M |
| Current Liabilities | $619.9M+28.0% | $484.3M+14.5% | $422.9M-3.0% | $436.2M+5.1% | $415.1M+26.7% | $327.6M+8.4% | $302.3M+10.4% | $273.9M |
| 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+10.7% | $328.7M+6.7% | $308.1M+5.1% | $293.2M+0.8% | $290.9M+2.1% | $284.8M |
| Retained Earnings | $364.0M+7.0% | $340.3M+9.7% | $310.2M+16.5% | $266.3M+9.4% | $243.5M+6.2% | $229.4M+1.7% | $225.5M+3.7% | $217.5M |
AGX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $172.5M+398.5% | $34.6M-2.0% | $35.3M+11.1% | $31.8M-56.8% | $73.5M+315.6% | $17.7M-28.1% | $24.6M-57.4% | $57.7M |
| Capital Expenditures | $583K-65.6% | $1.7M+328.9% | $395K-84.5% | $2.5M+8.4% | $2.3M+629.5% | $322K-47.5% | $613K-44.9% | $1.1M |
| Free Cash Flow | $171.9M+422.4% | $32.9M-5.7% | $34.9M+19.4% | $29.2M-58.9% | $71.1M+309.7% | $17.4M-27.6% | $24.0M-57.6% | $56.6M |
| Investing Cash Flow | -$37.1M+5.2% | -$39.2M-257.2% | $24.9M+130.3% | -$82.3M-92.1% | -$42.8M-2378.8% | -$1.7M+69.8% | -$5.7M+91.9% | -$70.3M |
| Financing Cash Flow | -$7.5M-8.6% | -$6.9M+61.5% | -$18.0M-159.6% | -$6.9M-24.6% | -$5.6M-8.7% | -$5.1M+36.1% | -$8.0M-44.1% | -$5.6M |
| Dividends Paid | $7.1M+36.2% | $5.2M+2.1% | $5.1M-2.4% | $5.2M+28.5% | $4.0M+0.4% | $4.0M+0.7% | $4.0M+0.3% | $4.0M |
| Share Buybacks | $0-100.0% | $199K-97.1% | $6.8M+1392.2% | $459K | $0-100.0% | $187K-95.3% | $4.0M+131.2% | $1.7M |
AGX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'24 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.7%+0.1pp | 18.6%-0.4pp | 19.0%+1.8pp | 17.3%+3.5pp | 13.7%+2.3pp | 11.4%-3.0pp | 14.4%+2.6pp | 11.8% |
| Operating Margin | 13.0%+0.3pp | 12.6%+0.1pp | 12.6%+0.8pp | 11.8%+3.6pp | 8.2%+4.1pp | 4.1%-3.0pp | 7.1%+2.3pp | 4.8% |
| Net Margin | 12.2%-2.6pp | 14.8%+3.2pp | 11.6%+0.7pp | 10.9%+2.9pp | 8.0%+3.0pp | 5.0%-2.3pp | 7.3%+4.0pp | 3.3% |
| Return on Equity | 7.3%-1.7pp | 9.0%+2.8pp | 6.2%-2.3pp | 8.5%+2.6pp | 5.9%+3.2pp | 2.7%-1.4pp | 4.1%+2.2pp | 1.9% |
| Return on Assets | 2.9%-1.1pp | 4.0%+1.1pp | 2.9%-0.8pp | 3.6%+1.1pp | 2.5%+1.2pp | 1.3%-0.8pp | 2.0%+1.0pp | 1.0% |
| Current Ratio | 1.61-0.1 | 1.71-0.0 | 1.75+0.1 | 1.64+0.0 | 1.63-0.1 | 1.75-0.1 | 1.81-0.1 | 1.88 |
| Debt-to-Equity | 1.50+0.3 | 1.25+0.1 | 1.18-0.2 | 1.34-0.0 | 1.36+0.2 | 1.13+0.1 | 1.06+0.1 | 0.98 |
| FCF Margin | 68.5%+54.6pp | 13.8%-4.2pp | 18.0%+6.7pp | 11.4%-20.0pp | 31.3%+20.3pp | 11.0%-3.6pp | 14.6%-20.0pp | 34.6% |
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Frequently Asked Questions
What is Argan Inc's annual revenue?
Argan Inc (AGX) reported $874.2M in total revenue for fiscal year 2025. This represents a 52.5% 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 52.5% year-over-year, from $573.3M to $874.2M in fiscal year 2025.
Is Argan Inc profitable?
Yes, Argan Inc (AGX) reported a net income of $85.5M in fiscal year 2025, with a net profit margin of 9.8%.
What is Argan Inc's earnings per share (EPS)?
Argan Inc (AGX) reported diluted earnings per share of $6.15 for fiscal year 2025. This represents a 157.3% 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.
What is Argan Inc's EBITDA?
Argan Inc (AGX) had EBITDA of $90.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Argan Inc's gross margin?
Argan Inc (AGX) had a gross margin of 16.1% in fiscal year 2025, 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 10.1% in fiscal year 2025, 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 9.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Argan Inc pay dividends?
Yes, Argan Inc (AGX) paid $1.35 per share in dividends during fiscal year 2025.
What is Argan Inc's return on equity (ROE)?
Argan Inc (AGX) has a return on equity of 23.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Argan Inc's free cash flow?
Argan Inc (AGX) generated $161.0M in free cash flow during fiscal year 2025. This represents a 41.1% 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 $167.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Argan Inc's total assets?
Argan Inc (AGX) had $792.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Argan Inc's capital expenditures?
Argan Inc (AGX) invested $6.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Does Argan Inc buy back shares?
Yes, Argan Inc (AGX) spent $1.5M on share buybacks during fiscal year 2025, 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 2025.
What is Argan Inc's current ratio?
Argan Inc (AGX) had a current ratio of 1.75 as of fiscal year 2025, which is generally considered healthy.
What is Argan Inc's debt-to-equity ratio?
Argan Inc (AGX) had a debt-to-equity ratio of 1.18 as of fiscal year 2025, 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 10.8% for fiscal year 2025, 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 10.46, 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 6 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 1.96x, 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 76 out of 100 on our Financial Profile, indicating strong 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.