ARGAN INC

Construction - Special Trade Contractors·ARLINGTON, VA·FY end 01/31·CIK 100591

CEO Pay Ratio

27:1

David H. Watson

CEO Total Comp

$2.7M

David H. Watson

Median Employee

$100,368

Revenue

$944.6M

FY 2026

Net Income

$137.8M

FY 2026

Free Cash Flow

$410.8M

FY 2026

Net Margin

14.6%

Insider Net (180d)

-$117.7M

0 buys / 44 sales

CEO Pay Accountability

CEO comp as % of net income

1.94%

For every $1,000 of profit, $19.37 flows to the CEO.

CEO comp as % of buybacks

27.01%

CEO comp equals 270.1‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	Trend
Revenue	$944.6M	$874.2M	$573.3M	$455.0M	$509.4M
Gross Profit	$193.7M	$141.0M	$80.8M	$86.4M	$99.7M
Operating Income	$134.7M	$88.2M	$36.5M	$41.7M	$44.5M
Net Income	$137.8M	$85.5M	$32.4M	$33.1M	$38.2M
Operating CF	$414.7M	$167.6M	$116.9M	-$30.1M	$28.4M
Capex	$3.9M	$6.6M	$2.8M	$3.4M	$1.4M
Free Cash Flow	$410.8M	$161.0M	$114.1M	-$33.4M	$27.0M
Buybacks	$9.9M	$1.5M	$12.5M	$68.2M	$20.4M
Dividends	$24.3M	$18.3M	$14.7M	$14.0M	—

Gross Margin	20.5%	16.1%	14.1%	19.0%	19.6%
Operating Margin	14.3%	10.1%	6.4%	9.2%	8.7%
Net Margin	14.6%	9.8%	5.6%	7.3%	7.5%
FCF Margin	43.5%	18.4%	19.9%	-7.3%	5.3%
R&D / Revenue	—	—	—	—	—	—
Effective Tax	14.2%	23.2%	33.9%	24.6%	24.1%
Debt / Equity	—	—	—	—	—	—
Buybacks / FCF	2.4%	0.9%	10.9%	-204.1%	75.5%

FY 2026

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Charles E. Collins IVChief Executive Officer, Gemma	$794.4K	$735.0K	$43.3K	$5.5M	$305.2K	$7.4M
David H. WatsonPresident and Chief Executive	$500.0K	$1.5M	$86.5K	$500.0K	$34.3K	$2.7M
Joshua S. BaugherSenior Vice President, Chief	$250.0K	$773.6K	$43.3K	$250.0K	$34.3K	$1.4M