Argan
AGXMarket price data through September 11, 2026.
Performance
Sep 2021 – Sep 2026
Track record
How this pick has done since Benson first called it.
- Benson Return
- +136%
- How much this stock is up since Benson first picked it — measured from the price at the time of that first pick, not from today.
- First pick price
- ~$176
- Roughly what one share cost when Benson first picked this stock. This is the starting line for the Benson Return.
- Tracking since
- January 2025
- The month this stock first became a Benson pick.
- Tracking duration
- 19 months
- How long Benson has been tracking this pick.
About Argan
Argan builds the giant power plants that keep the lights on for cities, factories, and the data centers running AI. Think of them as the construction crew behind America's electricity upgrade. They are worth about six billion dollars today, and they are one of a shrinking group of builders that can still put up a large natural gas plant.
The case for and against
Both sides of the story, in plain English.
- Booked Solid
Argan is sitting on a record backlog of about three billion dollars in signed work, enough to keep its crews busy for years. It holds roughly 727 million dollars in cash with zero debt, and it keeps about 15 cents of profit on every dollar of work, which is rare in construction.
- Power Hungry World
America's electricity demand is set to climb about 25 percent by 2030 thanks to AI data centers, electric cars, and new factories. At the same time, roughly 78 gigawatts of old power plants are retiring this decade. Argan is one of only a handful of companies that can build the replacements.
- Slower Sprint
Revenue grew about 8 percent over the past year, a real cooldown from the much faster pace investors had gotten used to. Big construction jobs get billed in lumpy chunks, so growth can stall for a quarter or two even when the backlog looks great, and the stock still carries a premium price after its huge run.
- Customer Concentration
About 41 percent of Argan's revenue comes from just two big customers. If either relationship cools off or a single project slips, it could put a real dent in earnings until fresh work fills the gap.
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How to read this page
This automated research summary uses Financial Modeling Prep market data through 2026-09-11. Model signals, scores, and risk labels can change and may be incomplete or wrong.
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