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Holding company whose main business (Gemma Power Systems) builds power plants, mainly natural-gas and renewable generation.
Holding company whose main business (Gemma Power Systems) builds power plants, mainly natural-gas and renewable generation.
Wins a small number of very large construction contracts to build gas-fired plants, recognising income as work progresses, so a handful of projects at any time dominate results and a new award can change the year. Smaller industrial services, including Atlantic Projects Company in Ireland and the UK, and a telecom-infrastructure unit sit alongside.
Moat: narrow (process know-how, installed base). Specialized power-plant EPC track record, though project-based revenue is lumpy.
Headquarters: Rockville, Maryland, US · Founded: 1961 · Employees: 1,409
Size Argan (AGX) is a United States Industrials company (Engineering & Construction) with a market value of $3.89B, the 1365th largest of 3,117 United States companies the cockpit tracks. Shares closed at $277.50 on 6 Nov 2026.
Performance Over six months the shares fell 59.2%, against -14.1% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 29.0% over the last twelve months (peer median +5.9%); the operating margin is 15.4% (peer median 8.3%).
Valuation It trades at 20.5× forward earnings against a peer median of 16.5× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is -19 pp: the price already allows for a slowdown.
Short interest Short interest is 7.7% of the free float (15 Oct 2026).
Next results Next results expected around 9 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.19B | $945M | $874M | $573M | $455M |
| Revenue growth | — | +8% | +52% | +26% | — |
| Gross profit | $246M | $192M | $142M | $78.8M | $83.4M |
| EBITDA | $185M | $137M | $97.6M | $38.9M | $45.4M |
| Net income | $179M | $138M | $85.5M | $32.4M | $33.1M |
| Free cash flow | $546M | $411M | $161M | $114M | -$33.4M |
| Capital expenditure | $9.48M | $3.88M | $6.58M | $2.76M | $3.37M |
| Total debt | $10.9M | $6.39M | $5.30M | $5.32M | $4.78M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Argan AGX | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
| MasTec MTZ | $14.0B | -58% | +26% | 5% | 15.0× | 21.6% |
| Primoris Services PRIM | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% |
| Quanta Services PWR | $81.5B | -27% | +37% | 7% | 26.4× | 24.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AGX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.4% | -3.0% | 3rd lowest of 21 |
| 6-month return | -59.2% | -14.1% | lowest of 21 |
| Distance from 52-week high | -65.6% | -40.0% | 2nd lowest of 21 |
| Revenue growth (TTM) | +29.0% | +5.9% | 4th highest of 21 |
| Operating margin | 15.4% | 8.3% | 7th highest of 21 |
| Forward P/E | 20.5× | 16.5× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 0.3% | 6.0% | 6th least demanding of 17 |
| Growth delivered (Del g) | +19.2% | +11.5% | 5th highest of 17 |
| Hurdle (Req g minus delivered) | -18.9 pp | -2.8 pp | 3rd least demanding of 17 |
| EV / EBITDA | 15.5× | 10.2× | 2nd most expensive of 12 |
| Net debt / EBITDA | -5.5× | 1.0× | least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Argan AGX | United States | $3.89B | -59% | +29% | 15% | 20.5× | 0.3% | +19.2% |
| China Everbright Environment 0257.HK | Hong Kong | $3.91B | -11% | -5% | 29% | 7.0× | -0.1% | -8.5% |
| Everus Construction ECG | United States | $3.91B | -53% | +33% | 8% | 12.2× | 13.9% | +11.5% |
| Guangdong Hongda 002683.SZ | China | $3.86B | -7% | +15% | 10% | 23.7× | 4.9% | +26.1% |
| Koninklijke BAM Groep BAMNB.AS | Netherlands | $3.85B | +37% | +7% | 3% | 11.5× | -5.2% | +0.8% |
| L&K Engineering 6139.TW | Taiwan | $3.81B | -23% | +78% | 17% | 6.5× | -9.1% | +41.0% |
| Wuxi Taiji Industry 600667.SS | China | $3.98B | +32% | -14% | 3% | 21.9× | 13.0% | +11.5% |
| Exponent EXPO | United States | $3.99B | +37% | +15% | 21% | 32.6× | 10.8% | +7.8% |
| Zhejiang Weiming Environment Protection 603568.SS | China | $4.01B | -27% | -25% | 36% | 11.0× | 6.4% | +15.0% |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |
| China Southern Power Grid Technology 688248.SS | China | $3.71B | -20% | +28% | 12% | 47.6× | 25.8% | +27.0% |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| Sacyr SCYR.MC | Spain | $3.58B | -14% | +6% | 24% | 20.5× | -5.4% | +0.5% |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Comsys 1721.T | Japan | $3.55B | -15% | +4% | 8% | 13.3× | -0.7% | +2.3% |
| Primoris Services PRIM | United States | $3.52B | -38% | -5% | 3% | 13.7× | 22.8% | +16.8% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Alten ATE.PA | France | $3.43B | +43% | 0% | 8% | 11.4× | 3.5% | +11.9% |