Argan, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $944.7M | $874.1M | $573.4M | $455.0M | $509.4M | $392.3M | $239.0M | $482.2M |
| Power Industry Services | $756.5M | $693.0M | $416.3M | $346.0M | $398.1M | $319.4M | $135.7M | $367.8M |
| Nutritional Products | — | — | — | — | — | — | — | — |
| Industrial Fabrication and Field Services | — | — | — | $92.8M | $97.9M | $65.3M | $94.7M | $101.7M |
| Industrial Construction Services | $167.6M | $167.6M | $142.8M | — | — | — | — | — |
| Telecommunications Infrastructure Services | $20.6M | $13.5M | $14.3M | $16.2M | $13.4M | $7.6M | $8.6M | $12.7M |
| Cost of Revenue | $750.9M | $733.2M | $492.5M | $368.7M | $409.6M | $330.1M | $245.8M | $399.7M |
| Gross Profit | $193.7M | $141.0M | $80.8M | $86.4M | $99.7M | $62.1M | $-6.8M | $82.4M |
| Gross Margin | 20.5% | 16.1% | 14.1% | 19.0% | 19.6% | 15.8% | -2.9% | 17.1% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $59.0M | $52.8M | $44.4M | $44.7M | $47.3M | $39.0M | $44.1M | $40.7M |
| Operating Income | $134.7M | $88.2M | $36.5M | $41.7M | $44.5M | $23.0M | $-55.8M | $40.2M |
| Operating Margin | 14.3% | 10.1% | 6.4% | 9.2% | 8.7% | 5.9% | -23.4% | 8.3% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $160.5M | $111.2M | $48.9M | $46.0M | $47.1M | $24.9M | $-47.8M | $47.2M |
| Income Tax Expense | $22.7M | $25.7M | $16.6M | $11.3M | $11.4M | $1.1M | $-7.1M | $-4.7M |
| Net Income | $137.8M | $85.5M | $32.4M | $33.1M | $38.2M | $23.9M | $-42.7M | $52.0M |
| Net Margin | 14.6% | 9.8% | 5.6% | 7.3% | 7.5% | 6.1% | -17.9% | 10.8% |
| EPS (Basic) | $10.00 | $6.35 | $2.42 | $2.35 | $2.43 | $1.52 | $-2.73 | $3.34 |
| EPS (Diluted) | $9.74 | $6.15 | $2.39 | $2.33 | $2.40 | $1.51 | $-2.73 | $3.32 |
| Shares Outstanding (Basic) | 13.8M | 13.4M | 13.4M | 14.1M | 15.7M | 15.7M | 15.6M | 15.6M |
| Shares Outstanding (Diluted) | 14.1M | 13.9M | 13.5M | 14.2M | 15.9M | 15.8M | 15.6M | 15.7M |
| Dividends Per Share | $1.75 | $1.35 | $1.10 | $1.00 | $1.00 | $3.00 | $1.00 | $1.00 |