Short answer
ARGAN INC (AGX) filed its fiscal 2025 10-K annual report with the SEC on Mar 27, 2025. It reported revenue of $874M (+52.5% year over year) and net income of $85M.
- Top risk flagged: Revenue recognition risk under ASC 606 with $8.0M contract variations pending customer approval as of Jan 31, 2025
FY2025 key financial metrics · XBRL
- Revenue
- $874M
- +52.5% YoY
- Net income
- $85M
- +164.1% YoY
- Operating margin
- 10.1%
- +3.7 pp YoY
- Gross margin
- 16.1%
- +2.0 pp YoY
- EPS (diluted)
- $6.15
- +157.3% YoY
- ROE
- 24.3%
- +13.2 pp YoY
- Operating cash flow
- $168M
- +43.4% YoY
Source: XBRL data from the ARGAN INC (AGX) FY2025 10-K on SEC EDGAR. USD.
ARGAN INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
- 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
Generated from the filing text; verify against the original. How to read a 10-K
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