ARGAN INC (AGX) FY2025 10-K Annual Report
ARGAN INC (AGX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
ARGAN INC FY2025 10-K Analysis
Business Overview
- • Core business model: diversified construction and engineering services via subsidiaries in power industry, industrial construction, and telecommunications infrastructure
- • New emphasis on renewable energy sector with expanded EPC services for biomass, solar, battery storage, and wind projects in power segment
- • Strategic expansion of APC operations into U.K. market, increasing international presence beyond Ireland
- • Project backlog increased sharply to over $1.3 billion at Jan 31, 2025 vs $0.6 billion prior year, reflecting strong project awards
- • Power industry services revenues reached $693 million in Fiscal 2025, up from $416 million in Fiscal 2024, representing 79% of total revenue
Management Discussion & Analysis
- • Revenue TRC $167.6M FY2025 vs $142.8M FY2024, backlog $53.2M FY2025 vs $127.5M FY2024; power segment backlog $1.4B FY2025 vs $0.8B FY2024
- • Recognized contract loss $13.4M on Kilroot Project, $3.4M in FY2025; dispute includes $9.2M letter of credit draw in receivables
- • Operating margin and profitability figures not explicitly stated in excerpt provided
- • Cash flow and capital allocation details not disclosed in provided text
- • Management outlook: sustained demand for natural gas-fired power plants due to lower costs and grid resiliency; growth in renewables and battery storage; regulatory uncertainty from policy shifts; project delays and supply chain challenges pose risks
Risk Factors
- • Revenue recognition risk under ASC 606 with $8.0M contract variations pending customer approval as of Jan 31, 2025
- • Geopolitical/macroeconomic risk not specified; focus on contract performance subject to scope or price variations
- • Operational risk from liquidated damages exposure if schedule or output milestones on EPC contracts are missed
- • Competitive threat or market disruption risk not specifically disclosed in this section
- • Financial risk from potential reversals of cumulative revenues due to uncertain variable consideration adjustments
ARGAN INC FY2025 Key Financial MetricsXBRL
Revenue
$874M
▲ +52.5% YoY
Net Income
$85M
▲ +164.1% YoY
Gross Margin
16.1%
▲ +203bp YoY
Operating Margin
10.1%
▲ +373bp YoY
Net Margin
9.8%
▲ +413bp YoY
ROE
24.3%
▲ +1317bp YoY
Total Assets
$836M
▲ +39.8% YoY
EPS (Diluted)
$6.15
▲ +157.3% YoY
Operating Cash Flow
$168M
▲ +43.4% YoY
Source: XBRL data from ARGAN INC FY2025 10-K filing on SEC EDGAR. All figures in USD.
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