Argan Inc (AGX) financial statements: income statement, balance sheet and cash flow
Argan Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jan 31, 2026 · FY), Argan Inc reported revenue of $944.6M (+8.1% year on year) and net income of $137.8M (+61.2% year on year).
Income statement
Argan Inc income statement, fiscal years
Line item
Jan 31, 2026 · FY
Jan 31, 2025 · FY
Jan 31, 2024 · FY
Jan 31, 2023 · FY
REVENUES
$944.6M
$874.2M
$573.3M
$455.0M
Cost of revenues
$750.9M
$733.2M
$492.5M
$368.7M
GROSS PROFIT
$193.7M
$141.0M
$80.8M
$86.4M
Selling, general and administrative expenses
$59.0M
$52.8M
$44.4M
$44.7M
INCOME FROM OPERATIONS
$134.7M
$88.2M
$36.5M
$41.7M
Other income, net
$25.8M
$23.0M
$12.5M
$4.3M
Total income before income taxes
$160.5M
$111.2M
$48.9M
$46.0M
Provision for income taxes
$22.7M
$25.7M
$16.6M
$11.3M
NET INCOME
$137.8M
$85.5M
$32.4M
$34.7M
Foreign currency translation adjustments
$4.7M
($2.3M)
($920.0K)
($425.0K)
Net unrealized gains (losses) on available-for-sale securities
$2.6M
($619.0K)
$199.0K
—
COMPREHENSIVE INCOME
$145.1M
$82.5M
$31.6M
$32.7M
Basic (in dollars per share)
$10.00
$6.35
$2.42
$2.35
Diluted (in dollars per share)
$9.74
$6.15
$2.39
$2.33
Basic (in shares)
13.8M
13.4M
13.4M
14.1M
Diluted (in shares)
14.1M
13.9M
13.5M
14.2M
CASH DIVIDENDS PER SHARE
$1.75
$1.35
$1.10
$1.00
Argan Inc income statement, quarters
Line item
Jul 31, 2026 · Q2
Apr 30, 2026 · Q1
Oct 31, 2025 · Q3
Jul 31, 2025 · Q2
REVENUES
$384.0M
$291.0M
$251.2M
$237.7M
Cost of revenues
$309.8M
$229.8M
$204.2M
$193.5M
GROSS PROFIT
$74.2M
$61.1M
$46.9M
$44.3M
Selling, general and administrative expenses
$17.4M
$15.7M
$14.3M
$14.2M
INCOME FROM OPERATIONS
$56.8M
$45.4M
$32.6M
$30.1M
Other income, net
$10.1M
$8.4M
$7.1M
$5.6M
INCOME BEFORE INCOME TAXES
$66.9M
$53.8M
$39.7M
$35.6M
Provision for income taxes
$13.6M
$7.7M
$9.0M
$361.0K
NET INCOME
$53.3M
$46.1M
$30.7M
$35.3M
Foreign currency translation adjustments
($267.0K)
($541.0K)
$165.0K
($251.0K)
Net unrealized (losses) gains on available-for-sale securities
($4.5M)
($2.7M)
$1.3M
($1.1M)
COMPREHENSIVE INCOME
$48.5M
$42.9M
$32.2M
$33.9M
Basic (in dollars per share)
$3.80
$3.30
$2.22
$2.57
Diluted (in dollars per share)
$3.76
$3.24
$2.17
$2.50
Basic (in shares)
14.0M
14.0M
13.8M
13.7M
Diluted (in shares)
14.2M
14.2M
14.2M
14.1M
CASH DIVIDENDS PER SHARE
$0.50
$0.50
$0.50
$0.38
Balance sheet
Argan Inc balance sheet, fiscal years
Line item
Jan 31, 2026 · FY
Jan 31, 2025 · FY
Jan 31, 2024 · FY
Jan 31, 2023 · FY
Cash and cash equivalents
$339.5M
$145.3M
$197.0M
$173.9M
Investments
$555.5M
$379.9M
$215.4M
—
Accounts receivable, net
$133.7M
$175.8M
$47.3M
$50.1M
Contract assets
$43.4M
$28.4M
$48.2M
$24.8M
Other current assets
$60.2M
$51.9M
$39.3M
$38.3M
TOTAL CURRENT ASSETS
$1.1B
$781.3M
$547.2M
$438.7M
Property, plant and equipment, net
$16.6M
$14.5M
$11.0M
$10.4M
Goodwill
$28.0M
$28.0M
$28.0M
$28.0M
Intangible assets, net
$1.4M
$1.8M
$2.2M
$2.6M
Right-of-use and other assets
$8.0M
$10.1M
$7.5M
$6.0M
TOTAL ASSETS
$1.2B
$836.2M
$598.2M
$489.5M
Accounts payable
$107.5M
$97.3M
$39.5M
$56.4M
Accrued expenses
$89.7M
$83.3M
$81.7M
$49.9M
Contract liabilities
$514.0M
$299.2M
$181.1M
$96.3M
TOTAL CURRENT LIABILITIES
$711.3M
$479.9M
$302.3M
$202.5M
Deferred taxes, net
$6.6M
$552.0K
$2.3M
$3.7M
Noncurrent liabilities
$6.3M
$4.5M
$5.0M
$6.1M
TOTAL LIABILITIES
$724.1M
$484.4M
$307.3M
$208.6M
Common stock, par value $0.15 per share - 30,000,000 shares authorized; 15,828,289 shares issued; 13,950,712 and 13,634,214 shares outstanding at January 31, 2026 and 2025, respectively
$2374000.00
$2374000.00
$2374000.00
$2374000.00
Additional paid-in capital
$167.2M
$169.0M
$164.2M
$162.2M
Retained earnings
$406.2M
$292.7M
$225.5M
$207.8M
Treasury stock, at cost - 1,877,577 and 2,194,075 shares at January 31, 2026 and 2025, respectively
-114.4M
-105.6M
-97.5M
-88.6M
Accumulated other comprehensive income (loss)
$818.0K
($6.5M)
($3.6M)
($2.9M)
TOTAL STOCKHOLDERS' EQUITY
$462.3M
$351.9M
$290.9M
$280.9M
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$1.2B
$836.2M
$598.2M
$489.5M
Argan Inc balance sheet, quarters
Line item
Jul 31, 2026
Apr 30, 2026
Oct 31, 2025
Jul 31, 2025
Cash and cash equivalents
$364.5M
$355.8M
$306.3M
$177.8M
Investments
$664.0M
$617.7M
$420.5M
$394.3M
Accounts receivable, net
$180.4M
$130.8M
$170.4M
$179.2M
Contract assets
$35.7M
$36.9M
$38.4M
$23.7M
Other current assets
$74.0M
$74.8M
$61.6M
$53.7M
TOTAL CURRENT ASSETS
$1.3B
$1.2B
$997.2M
$828.8M
Property, plant and equipment, net
$22.8M
$18.3M
$15.8M
$15.7M
Goodwill
$30.7M
$28.0M
$28.0M
$28.0M
Intangible assets, net
$6.0M
$1.4M
$1.5M
$1.6M
Right-of-use and other assets
$23.0M
$22.7M
$8.4M
$8.5M
TOTAL ASSETS
$1.4B
$1.3B
$1.1B
$882.7M
Accounts payable
$115.2M
$123.8M
$100.8M
$96.0M
Accrued expenses
$135.9M
$105.1M
$67.1M
$71.5M
Contract liabilities
$627.0M
$565.8M
$451.9M
$316.8M
TOTAL CURRENT LIABILITIES
$878.1M
$794.7M
$619.9M
$484.3M
Deferred taxes, net
$3.1M
$4.9M
$6.1M
$742.0K
Noncurrent liabilities
$13.0M
$13.3M
$5.2M
$4.5M
TOTAL LIABILITIES
$894.1M
$812.9M
$631.2M
$489.5M
Common stock, par value $0.15 per share - 30,000,000 shares authorized; 15,828,289 shares issued; 14,032,792 and 13,950,712 shares outstanding at July 31, 2026 and January 31, 2026, respectively
$2374000.00
$2374000.00
$2374000.00
$2374000.00
Additional paid-in capital
$165.0M
$163.2M
$167.1M
$166.6M
Retained earnings
$491.5M
$445.3M
$364.0M
$340.3M
Treasury stock, at cost - 1,795,497 and 1,877,577 shares at July 31, 2026 and January 31, 2026, respectively
-144.9M
-135.0M
-113.6M
-114.5M
Accumulated other comprehensive (loss) income
($7.2M)
($2.4M)
($109.0K)
($1.6M)
TOTAL STOCKHOLDERS' EQUITY
$506.8M
$473.5M
$419.7M
$393.2M
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$1.4B
$1.3B
$1.1B
$882.7M
Cash flow statement
Argan Inc cash flow statement, fiscal years
Line item
Jan 31, 2026 · FY
Jan 31, 2025 · FY
Jan 31, 2024 · FY
Jan 31, 2023 · FY
Net income
$137.8M
$85.5M
$32.4M
$34.7M
Stock compensation expense
$7.9M
$4.5M
$4.5M
$4.0M
Depreciation
$1.9M
$1.9M
$2.0M
$3.0M
Changes in accrued interest on investments
$901.0K
$1.2M
($3.9M)
($1.7M)
Non-cash lease expense
$4.3M
$3.8M
—
—
Deferred income tax expense
$6.3M
$1.9M
$1.3M
($3.2M)
Other
($1.7M)
$869.0K
$198.0K
$7.0K
Accounts receivable
$42.3M
($128.6M)
$2.8M
($23.2M)
Contract assets
($15.0M)
$19.8M
($23.4M)
($19.9M)
Other assets
($13.3M)
($7.7M)
($1.0M)
($3.3M)
Accounts payable and accrued expenses
$28.6M
$66.2M
$14.8M
$9.1M
Contract liabilities
$214.7M
$118.2M
$84.8M
($31.6M)
Net cash provided by operating activities
$414.7M
$167.6M
$116.9M
($30.1M)
Purchases of short-term investments
($150.0M)
($175.0M)
($115.0M)
($249.8M)
Maturities of short-term investments
$150.0M
$130.0M
$159.8M
$190.0M
Purchases of available-for-sale securities
($226.6M)
($139.9M)
($104.5M)
—
Maturities of available-for-sale securities
$55.0M
$19.2M
—
—
Purchases of property, plant and equipment
($3.9M)
($6.6M)
($2.8M)
($3.4M)
Repayment of note receivable
$5.0M
—
—
—
Investments in solar energy projects
($11.5M)
($16.3M)
($5.1M)
—
Net cash used in investing activities
($182.0M)
($193.6M)
($67.6M)
($63.1M)
Common stock repurchases
($9.9M)
($1.5M)
($12.5M)
($68.2M)
Payments of cash dividends
($24.3M)
($18.3M)
($14.7M)
($14.0M)
Settlements of share-based awards, net of withholding taxes paid
($8.4M)
($6.3M)
—
—
Net cash used in financing activities
($42.6M)
($26.1M)
($26.1M)
($82.8M)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH
$4.1M
$322.0K
($116.0K)
($539.0K)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
$194.2M
($51.8M)
$23.1M
($176.5M)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
$145.3M
$197.0M
$173.9M
$350.5M
CASH AND CASH EQUIVALENTS, END OF PERIOD
$339.5M
$145.3M
$197.0M
$173.9M
Right-of-use assets obtained in exchange for lease obligations
$5.3M
$3.7M
$2.4M
—
Cash paid for income taxes, net of refunds
$29.5M
$30.8M
$14.3M
—
Cash paid for operating leases
$4.2M
$3.8M
$1.9M
—
Argan Inc cash flow statement, quarters
Line item
Jul 31, 2026 · YTD
Apr 30, 2026 · Q1
Oct 31, 2025 · YTD
Jul 31, 2025 · YTD
Net income
$99.4M
$46.1M
$88.6M
$57.8M
Stock compensation expense
$4.5M
$2.0M
$5.3M
$3.5M
Depreciation
$1.2M
$559.0K
$1.4M
$906.0K
Changes in accrued interest on investments
($1.8M)
($173.0K)
$1.4M
$538.0K
Non-cash lease expense
$4.5M
$1.6M
$3.1M
$2.2M
Deferred income tax (benefit) expense
($1.4M)
($869.0K)
$5.7M
$767.0K
Other
$313.0K
$113.0K
($1.6M)
($1.0M)
Accounts receivable
($44.5M)
$2.9M
$5.5M
($3.2M)
Contract assets
$7.8M
$6.5M
($10.0M)
$4.7M
Other assets
($13.7M)
($14.6M)
($9.6M)
($1.7M)
Accounts payable and accrued expenses
$41.1M
$17.5M
($145.0K)
($12.0M)
Contract liabilities
$113.1M
$51.8M
$152.7M
$17.6M
Net cash provided by operating activities
$210.4M
$113.4M
$242.4M
$69.9M
Purchases of short-term investments
($72.5M)
($32.5M)
($75.0M)
($25.0M)
Maturities of short-term investments
$42.5M
$12.5M
$110.0M
$80.0M
Purchases of available-for-sale securities
($120.1M)
($60.0M)
($127.2M)
($92.2M)
Maturities of available-for-sale securities
$35.0M
$15.0M
$55.0M
$25.0M
Acquisition, net of cash acquired
($8.0M)
—
—
—
Purchases of property, plant and equipment
($7.7M)
($2.4M)
($2.7M)
($2.1M)
Net cash used in investing activities
($130.7M)
($67.5M)
($51.4M)
($14.3M)
Common stock repurchases
($9.6M)
($3.0M)
($7.0M)
($7.0M)
Payments of cash dividends
($14.0M)
($7.0M)
($17.3M)
($10.2M)
Settlements of share-based awards, net of withholding taxes paid
($28.1M)
($23.7M)
($8.1M)
($7.6M)
Net cash used in financing activities
($51.7M)
($33.6M)
($32.5M)
($24.9M)
EFFECTS OF EXCHANGE RATE CHANGES ON CASH
($2.9M)
$4.1M
$2.5M
$1.9M
NET INCREASE IN CASH AND CASH EQUIVALENTS
$25.0M
$16.4M
$161.0M
$32.6M
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
$339.5M
$339.5M
$145.3M
$145.3M
CASH AND CASH EQUIVALENTS, END OF PERIOD
$364.5M
$355.8M
$306.3M
$177.8M
Right-of-use assets obtained in exchange for lease obligations