New contract awards and backlog announcements - each $500M+ power plant win represents 50%+ of annual revenue
Project execution milestones and margin performance - any cost overruns or delays on fixed-price contracts materially impact profitability
U.S. natural gas power plant construction activity - driven by coal retirements, data center electricity demand, and grid reliability needs
Renewable energy policy and tax incentives - IRA investment tax credits drive utility-scale solar project economics
moderate - Power infrastructure spending is less cyclical than commercial/industrial construction as utilities make long-term capital allocation decisions based on grid reliability and regulatory requirements rather than near-term economic conditions. However, economic strength drives electricity demand growth which influences new generation capacity needs. The current boom is driven by structural factors (data center growth, electrification, coal retirements) rather than cyclical economic expansion.
Rising interest rates negatively impact utility clients' cost of capital for financing $500M-$1B power plant projects, potentially delaying FIDs (final investment decisions) or reducing the number of projects reaching construction phase. However, Argan's minimal debt (0.01 D/E) insulates it from direct financing cost pressures. Higher rates also compress valuation multiples for high-growth industrials. Conversely, rate cuts could accelerate utility capital spending and project approvals.
Natural gas generation policy risk - aggressive renewable energy mandates or carbon pricing could reduce long-term demand for new gas-fired plants, though gas remains critical for grid reliability and baseload power through 2030s
Turbine OEM supply chain concentration - dependence on GE Vernova and Siemens Energy for major equipment creates vulnerability to manufacturing delays, price increases, or warranty issues that impact project economics
Renewable energy technology evolution - rapid improvements in battery storage economics could shift utility preference toward solar+storage over gas peaker plants for capacity needs
growth - The 186% one-year return, 52% revenue growth, and 164% earnings growth attract momentum and growth investors betting on the U.S. power infrastructure buildout cycle. The 42x EV/EBITDA valuation reflects growth expectations rather than value characteristics. However, the 31% ROE and strong cash generation also appeal to quality-focused investors. The small $5.7B market cap and concentrated business model create higher volatility suitable for risk-tolerant growth portfolios.
Trend
+24.6% vs SMA 50 · +90.7% vs SMA 200
Momentum
Volume distribution is neutral or leaning toward distribution. No compelling squeeze setup based on current money flow data.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
ANALYST ESTIMATES
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2026(current) | $941.0M $852.9M–$1.1B | — | $8.38 | — | ±0% | Moderate3 |
FY2027 | $1.3B $1.2B–$1.3B | ▲ +33.0% | $11.04 | ▲ +31.7% | ±15% | Moderate4 |
FY2028 | $1.5B $1.3B–$1.7B | ▲ +20.9% | $14.38 | ▲ +30.3% | ±26% | Moderate4 |
Dividend per payment — last 8 periods
INSTITUTIONAL OWNERSHIP
AGX News
About
argan, inc., through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, project development, technical, and consulting services to the power generation and renewable energy markets. the company operates through power industry services, industrial fabrication and field services, and telecommunications infrastructure services segments. the power industry services segment offers engineering, procurement, and construction (epc) contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 15 gigawatts of power-generating capacity. this segment serves independent power project owners, public utilities, power plant equipment suppliers, and energy plant construction companies. the industrial fabrication and field services segment provides industrial field, a
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
AGX◀ | $722.31 | +2.92% | $10.1B | 72.8 | +805.6% | 1458.5% | 1500 |
| $888.31 | -3.47% | $409.2B | 43.7 | +429.0% | 1312.8% | 1523 | |
| $281.53 | -3.43% | $294.2B | 33.7 | +1848.2% | 1898.2% | 1489 | |
| $171.18 | -2.56% | $230.5B | 31.8 | +974.1% | 759.8% | 1488 | |
| $220.49 | -3.80% | $173.8B | 79.6 | +3449.4% | 249.7% | 1503 | |
| $270.56 | +0.45% | $160.6B | 22.2 | +107.2% | 2912.3% | 1504 | |
| $399.44 | -2.12% | $155.1B | 38.9 | +1033.0% | 1489.7% | 1504 | |
| Sector avg | — | -1.72% | — | 46.1 | +1235.2% | 1440.1% | 1502 |