NAS10028,581+1.42%S&P7,703+1.77%GOLD$4,070+3.29%BTC$80,545+4.14%VIX17.94−13.87%latest tape · as of 16:51 UTC
The Screen · Industrials · Engineering & Construction
Argan, Inc.
AGX · the NYSE · USD · Market cap $4.9B · 1,409 employees
Argan, Inc., through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market in the United Stat…
FAIL · Does not pass the screen
348.24 USD
Price as of 3 Nov 2026Daily close, not a live quote
Screened 2026-11-03 · the tape above runs as of 16:51 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price348.24 USD at the 3 Nov 2026 close
Our value readUndervalued vs our fair value, as of 3 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.43, read 2026-11-03
Ethical does not pass the values gate
Price348.24 USD
Fair value452.32
Ethical score70.0/100
Value readUndervaluedas of 3 Nov 2026
Our investment reviews on this name
2026-10-18Read Markdown367.16-5.2% to today ✓Accumulation gives way to Markdown first Markdown read since October
2026-10-11Read Accumulation379.58-8.3% to today Markdown gives way to Accumulation after a 16% slide in 6 weeks
2026-08-29Read Markdown450.46-22.7% to today ✓Distribution gives way to Markdown after a 24% slide in 8 days
2026-08-21Read Distribution590.87-41.1% to today ✓Accumulation gives way to Distribution after an 8% slide in 7 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Argan, Inc. holds its Markdown at $348.24. The statistical read favours the sellers, held for 45 days.
As held on the ledger · 2026-11-03
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 45 days
Price at the screen
$348.24
Valuation
27.53 trailing · 21.62 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.63
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.21%
Below 33%
Interest-bearing debt is just 0.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
46.82%
Below 33%
Interest-bearing cash and securities are 46.8% of assets, above the one-third limit.
Fail
Receivables
39.88%
Below 49%
Money owed to the company is 39.9% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Argan,'s business is fine, but its cash and interest-bearing securities are about 47% of its assets, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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Today AGX does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 3 Nov 2026: it trades at roughly a 23% discount to our $452.32 fair value, 61.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-03 screen. The gold marker is the market price at the same screen. A 23.0% discount to the base estimate.
Where our models see it going: fair-value estimate $452.32, with a range of $245.70 to $520.17, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Power builder races ahead of our fair value
Every time a grid needs a new gas plant or data centre backup, Argan steps in to design and deliver it. The numbers look strong on paper, with revenue jumping 50 percent and return on equity at 39 percent. Yet the shares sit 7 percent above our calculated worth at a forward multiple of 33.9 times, leaving no margin of safety and an opportunity rating of none.
The business clears our ethical screen cleanly and shows solid 15 percent profit margins. Five analysts still cluster around a 700 dollar median target. We see the same operating strength but cannot ignore the gap between price and our 512 dollar fair value.
Construction work remains lumpy and exposed to energy project cycles, while the moat stays unknown. High multiples can compress quickly when orders slow. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
AGX trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-01Markdown$344.11-3.2%Entry 19
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading bearish. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473.
2026-10-25Markdown$355.44-3.2%Entry 18
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473.
2026-10-18Markdown · changed$367.16-3.3%Entry 17
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473.
2026-10-02Markdown$379.58-15.7%Entry 15
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 15.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473. Since the last review it its composite score rose.
2026-09-02Markdown$450.46+0.0%Entry 14
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473. It reported earnings in this window, a natural checkpoint for the thesis.
2026-09-01Markdown$450.46+0.0%Entry 13
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-31Markdown$450.46+0.0%Entry 12
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-30Markdown$450.46+0.0%Entry 11
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-29Markdown · changed$450.46+0.0%Entry 10
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 71% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 184%. Our forward projection puts the odds of a 10% gain over the next month near 53%. The street (5 analysts) rates it none, with a mean price target of $473. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
