Argan’s backlog doubled in fiscal year 2026, with $727 million in cash and no debt. Stock surged 118% in the past year. The company benefits from the growing demand for power infrastructure projects, with a focus on engineering, procurement, and construction in the power industry.

Argan’s backlog hit $3 billion, a record high, with improving gross margins and earnings. Risks include execution of the backlog and concentration in major projects. Despite stock price increase, significant power needs justify the valuation. Overall, Argan is a solid industrial investment for the long term.

Read more at Yahoo Finance: This Could Be One of the Best Industrial Stocks to Hold for the Next 10 Years