AGXArgan, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (3.7×) and margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Margin-driven, fat margins on slower asset turns. ROE 32% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is AGX?
Argan, Inc. keeps 15% of every revenue dollar as operating profit, against 7.5% for the median Engineering & Construction name.
Operating margin · Engineering & Construction median 7.5% · 12 months to Q2 2026
- Cash conversion
- 3.66×
Cash conversion · 1.50× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +0.23%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 21%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 5.9% |
| FY2021 | 8.7% |
| FY2022 | 9.2% |
| FY2023 | 6.4% |
| FY2024 | 10% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q2 2026
- 21%
- Operating margin12 months to Q2 2026
- 15%
- Net margin12 months to Q2 2026
- 15%
- Free cash flow margin
- 46%
- Revenue, trailing twelve months
- $1.19B
- Free cash flow, trailing twelve months
- $546M
- Net income, trailing twelve months
- $179M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Engineering & Construction
Ranks #10 of 25 by RyuScore