AGX
Argan, Inc.
AGX's fundamentals are strong: revenue grew 29% and it turned 46% of its revenue into free cash flow. At 25x earnings, it's trading in line with its usual 26x. Analysts expect that strong growth to continue, though they disagree widely on how much.
AGX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AGX's revenue, profitability, cash flow and balance sheet are all currently strong.
AGX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $215 | -32% |
| Forward | 22x | $315 | — |
| Current | 25x | $315 | — |
| Fair | 26x | $326 | +3.5% |
| Expensive | 43x | $546 | +73% |
Historical ranges are pointers, not guarantees.
AGX's PE is in its fair range at 25x. If earnings grow as analysts expect, today's price would be 22x next year's earnings.
AGX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for AGX, with profitability improving. However, they disagree widely on these estimates.
AGX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.39 | +14% |
| Q3 2026 | $12.64 | +51% |
| Q2 2026 | $11.38 | +59% |
| Q1 2026 | $9.74 | +58% |
| Q4 2025 | $8.53 | +78% |
| Q3 2025 | $8.36 | +163% |
| Q2 2025 | $7.17 | +155% |
| Q1 2025 | $6.15 | +157% |
| Q4 2024 | $4.78 | +94% |
AGX's earnings per share have climbed steadily: $12.64 over the past year, up 51% from the year before, and higher year over year for 13 quarters in a row.
AGX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $384M | +62% |
| Q2 2026 | $291M | +50% |
| Q1 2026 | $262.1M | +13% |
| Q4 2025 | $251.2M | -2.3% |
| Q3 2025 | $237.7M | +4.7% |
| Q2 2025 | $193.7M | +23% |
| Q1 2025 | $232.5M | +41% |
| Q4 2024 | $257M | +57% |
AGX's revenue is growing: $384M last quarter, up 62% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +2.1 points |
| Q2 2026 | 16% | +3 points |
| Q1 2026 | 18% | +4.1 points |
| Q4 2025 | 13% | +1.2 points |
| Q3 2025 | 13% | +4.4 points |
| Q2 2025 | 13% | +8.4 points |
| Q1 2025 | 14% | +6.9 points |
| Q4 2024 | 12% | +7 points |
AGX's operating margin was 15% last quarter, up 2.1 points from the same quarter a year ago.
AGX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $91.7M | +179% |
| Q2 2026 | $111M | +218% |
| Q1 2026 | $171.1M | +296% |
| Q4 2025 | $171.9M | +488% |
| Q3 2025 | $32.9M | -54% |
| Q2 2025 | $34.9M | +101% |
| Q1 2025 | $43.3M | +80% |
| Q4 2024 | $29.2M | -48% |
AGX generated $546M in free cash flow over the past year, about four times what it generated the year before.
AGX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -33K shares |
| 1 year | +0.2% | +33K shares |
| 3 years | +4.6% | +622K shares |
| 5 years | -11% | -1.8M shares |
| Available history | -9.4% | -1.5M shares |
AGX has 14M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6.7M |
| Q2 2026 | $3M |
| Q1 2026 | $2.8M |
| Q4 2025 | — |
| Q3 2025 | $199,000 |
| Q2 2025 | $6.8M |
| Q1 2025 | $878,000 |
| Q4 2024 | $459,000 |
AGX spent $12M buying back its own shares over the past year, up 49% from the year before.
AGX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.0x | Net Cash |
| Q2 2026 | -2.3x | Net Cash |
| Q1 2026 | -2.5x | Net Cash |
| Q4 2025 | -2.5x | Net Cash |
| Q3 2025 | -1.5x | Net Cash |
| Q2 2025 | -1.8x | Net Cash |
| Q1 2025 | -1.6x | Net Cash |
| Q4 2024 | -2.5x | Net Cash |
AGX has more cash than debt.
AGX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.3 | Neutral |
| Stochastic | 10.8 | Oversold |
AGX's weekly RSI is 35 (neutral) and its Stochastic is 11 (oversold).
AGX PE vs Industrials Sector
| Metric | AGX | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 3.8% above |
| PE % | 46 | 58 | 12 pts below |
AGX is trading at 25x earnings, in line with the Industrials sector's median of 24x.
AGX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $344.3 | 8.4% below |
| 20 week MA | $454.9 | 31% below |
| 50 week MA | $487.6 | 35% below |
| 100 week MA | $346.8 | 9.1% below |
| 200 week MA | $204.0 | 55% above |
AGX has fallen below most of its moving averages, though it's still 55% above its 200-week average.
AGX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.7 | $44.2 | +11% |
| 2021 | $44.2 | $38.2 | -14% |
| 2022 | $38.2 | $36.4 | -4.6% |
| 2023 | $36.4 | $46.8 | +28% |
| 2024 | $46.8 | $143.0 | +206% |
| 2025 | $143.0 | $325.1 | +127% |
| 2026 YTD | $325.1 | $315.3 | -3% |
AGX has finished higher in four of the last six years, two of them by more than 50%. It's down 3% so far in 2026.