Argan, Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $137.8M | $85.5M | $32.4M | $33.1M | $38.2M | $23.9M | $-42.7M | $52.0M |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $1.9M | $1.9M | $2.0M | $3.0M | $3.4M | $3.7M | $3.5M | $3.4M |
| Amortization | $376.0K | $391.0K | $392.0K | $732.0K | $870.0K | $904.0K | $1.1M | $1.0M |
| Stock-Based Compensation | $7.9M | $4.5M | $4.5M | $4.0M | $3.5M | $2.9M | $2.1M | $1.6M |
| Net Cash from Operating Activities | $414.7M | $167.6M | $116.9M | $-30.1M | $28.4M | $176.0M | $53.6M | $-112.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $3.9M | $6.6M | $2.8M | $3.4M | $1.4M | $1.7M | $7.1M | $8.6M |
| Business Acquisitions | — | — | — | — | $600.0K | — | — | — |
| Net Cash from Investing Activities | $-182.0M | $-193.6M | $-67.6M | $-63.1M | $-7.0M | $67.0M | $-36.1M | $170.6M |
| Financing Activities | ||||||||
| Dividends Paid | $24.3M | $18.3M | $14.7M | $14.0M | $15.7M | $47.0M | — | — |
| Stock Repurchases | $9.9M | $1.5M | $12.5M | $68.2M | $20.4M | — | — | — |
| Net Cash from Financing Activities | $-42.6M | $-26.1M | $-26.1M | $-82.8M | $-34.6M | $-45.4M | $-14.0M | $-15.5M |
| Net Change in Cash | $194.2M | $-51.8M | $23.1M | $-176.5M | $-16.2M | $199.3M | $3.0M | $42.2M |
| Free Cash Flow | $410.8M | $161.0M | $114.1M | $-33.4M | $27.0M | $174.3M | $46.5M | $-120.9M |