Argan, Inc. (AGX)

Argan, Inc. is a leading provider of engineering, procurement, and construction (EPC) services for the power generation and industrial sectors, led by CEO David Watson. The company’s mission is to provide "energy-agnostic capabilities that support the transition to low-carbon and zero-carbon fuels" while maintaining a financially strong position to ensure project stability. Argan, Inc. stock is a premier "Data Center Power and Energy Transition" play, benefiting from the insatiable demand for reliable, 24/7 power required by new AI facilities and manufacturing reshoring. By late 2025, Argan reported a record project backlog of approximately $2 billion, ensuring multi-year revenue visibility.

The company’s business operations are conducted through its wholly owned subsidiaries, including Gemma Power Systems and Atlantic Projects Company. In fiscal year 2025, Argan reported revenue of $874 million, representing a staggering 52% year-over-year growth. The company’s future strategy involves leveraging its "Debt-Free Balance Sheet" to capture large-scale renewable and natural gas hybrid projects that provide grid stability. For 2026, the firm is prioritizing its international expansion via its Ireland-based APC unit and the growth of its specialized "Industrial Services" segment. Its competitive moat is its deep technical expertise in complex plant turnarounds and its reputation for delivering multi-hundred-million-dollar projects on time and on budget in a highly regulated industry.

Argan is publicly traded on the New York Stock Exchange under the ticker AGX stock. It is a favorite for investors seeking a "picks and shovels" play on the US energy infrastructure boom without the operational risk of a utility. Financial analysts and energy infrastructure experts track the AGX stock price as a primary indicator of power plant construction activity and the pace of the US grid modernization. By December 2025, Argan stands as a highly profitable and essential architect of the new energy landscape, utilizing its technical leadership to power the next generation of American industry.