Argan finished fiscal 2026 with record backlog, no debt and nearly $895 million of cash and investments. The AGX question is whether Power-heavy backlog converts into profitable revenue without project execution pain.
AGX: the power-plant builder now has a $2.9B backlog and a cash pile
NYSEAGXCoverage BootstrapPower Infrastructure
Thesis summary
Argan finished fiscal 2026 with record backlog, no debt and nearly $895 million of cash and investments. The AGX question is whether Power-heavy backlog converts into profitable revenue without project execution pain.
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