Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $675M | $893M | $482M | $239M | $392M | $509M | $455M | $573M | $874M | $945M |
| Revenue growth | — | 32.3% | -46.0% | -50.4% | 64.1% | 29.9% | -10.7% | 26.0% | 52.5% | 8.1% |
| Gross profit | $147M | $149M | $82.4M | -$6.82M | $62.1M | $99.7M | $86.4M | $80.8M | $141M | $194M |
| Gross margin | 21.7% | 16.7% | 17.1% | -2.9% | 15.8% | 19.6% | 19.0% | 14.1% | 16.1% | 20.5% |
| Operating income | $112M | $107M | $40.2M | -$55.8M | $23.0M | $44.5M | $41.7M | $36.5M | $88.2M | $135M |
| Operating margin | 16.6% | 12.0% | 8.3% | -23.4% | 5.9% | 8.7% | 9.2% | 6.4% | 10.1% | 14.3% |
| Net income | $70.3M | $72.0M | $52.0M | -$42.7M | $23.9M | $38.2M | $33.1M | $32.4M | $85.5M | $138M |
| Net margin | 10.4% | 8.1% | 10.8% | -17.9% | 6.1% | 7.5% | 7.3% | 5.6% | 9.8% | 14.6% |
| EPS (diluted) | $4.50 | $4.56 | $3.32 | -$2.73 | $1.51 | $2.40 | $2.33 | $2.39 | $6.15 | $9.74 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $259M | -$72.8M | -$112M | $53.6M | $176M | $28.4M | -$30.1M | $117M | $168M | $415M |
| Capital expenditures | $2.81M | $4.83M | $8.60M | $7.06M | $1.70M | $1.42M | $3.37M | $2.76M | $6.58M | $3.88M |
| Free cash flow | $256M | -$77.6M | -$121M | $46.5M | $174M | $27.0M | -$33.4M | $114M | $161M | $411M |
| Share buybacks | — | — | — | — | — | $20.4M | $68.2M | $12.5M | $1.52M | $9.88M |
| Dividends paid | — | — | — | — | $47.0M | $15.7M | $14.0M | $14.7M | $18.3M | $24.3M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $167M | $122M | $164M | $167M | $367M | $350M | $174M | $197M | $145M | $339M |
| Total assets | $644M | $543M | $477M | $488M | $603M | $554M | $489M | $598M | $836M | $1.19B |
| Total liabilities | $352M | $185M | $82.3M | $147M | $280M | $228M | $209M | $307M | $484M | $724M |
| Shareholders' equity | $292M | $358M | $395M | $339M | $321M | $326M | $281M | $291M | $352M | $462M |
| Retained earnings | $155M | $211M | $248M | $189M | $166M | $189M | $208M | $226M | $293M | $406M |
| Shares (wtd avg diluted) | 15.6M | 15.8M | 15.7M | 15.6M | 15.8M | 15.9M | 14.2M | 13.5M | 13.9M | 14.1M |
Every figure is extracted from ARGAN INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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