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Side-by-side financial comparison of ARGAN INC (AGX) and FOSTER L B CO (FSTR). Click either name above to swap in a different company.
ARGAN INC is the larger business by last-quarter revenue ($251.2M vs $160.4M, roughly 1.6× FOSTER L B CO). ARGAN INC runs the higher net margin — 12.2% vs 1.5%, a 10.7% gap on every dollar of revenue. On growth, FOSTER L B CO posted the faster year-over-year revenue change (25.1% vs -2.3%). ARGAN INC produced more free cash flow last quarter ($171.9M vs $19.8M). Over the past eight quarters, ARGAN INC's revenue compounded faster (23.5% CAGR vs 13.6%).
ARGAN INCAGXEarnings & Financial Report
Argan Inc. is a diversified holding company that provides comprehensive engineering, construction, project management and consulting services. Its core operating segments focus on power generation, telecommunications, industrial infrastructure and renewable energy projects, primarily serving public and private sector clients across North America.
Foster L B Co. is a U.S.-headquartered industrial manufacturing firm that develops, produces and distributes engineered access solutions, construction components, and rail infrastructure products. It serves commercial construction, transportation, and industrial end markets across North America and selected international regions.
AGX vs FSTR — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $251.2M | $160.4M |
| Net Profit | $30.7M | $2.4M |
| Gross Margin | 18.7% | 19.7% |
| Operating Margin | 13.0% | 4.9% |
| Net Margin | 12.2% | 1.5% |
| Revenue YoY | -2.3% | 25.1% |
| Net Profit YoY | 9.7% | 1098.3% |
| EPS (diluted) | $2.17 | $0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $251.2M | $160.4M | ||
| Q3 25 | $237.7M | $138.3M | ||
| Q2 25 | $193.7M | $143.6M | ||
| Q1 25 | $232.5M | $97.8M | ||
| Q4 24 | $257.0M | $128.2M | ||
| Q3 24 | $227.0M | $137.5M | ||
| Q2 24 | $157.7M | $140.8M | ||
| Q1 24 | $164.6M | $124.3M |
| Q4 25 | $30.7M | $2.4M | ||
| Q3 25 | $35.3M | $4.4M | ||
| Q2 25 | $22.6M | $2.9M | ||
| Q1 25 | $31.4M | $-2.1M | ||
| Q4 24 | $28.0M | $-242.0K | ||
| Q3 24 | $18.2M | $35.9M | ||
| Q2 24 | $7.9M | $2.8M | ||
| Q1 24 | $12.0M | $4.4M |
| Q4 25 | 18.7% | 19.7% | ||
| Q3 25 | 18.6% | 22.5% | ||
| Q2 25 | 19.0% | 21.5% | ||
| Q1 25 | 20.5% | 20.6% | ||
| Q4 24 | 17.2% | 22.3% | ||
| Q3 24 | 13.7% | 23.8% | ||
| Q2 24 | 11.4% | 21.7% | ||
| Q1 24 | 14.4% | 21.1% |
| Q4 25 | 13.0% | 4.9% | ||
| Q3 25 | 12.6% | 6.0% | ||
| Q2 25 | 12.6% | 5.3% | ||
| Q1 25 | 14.1% | -2.0% | ||
| Q4 24 | 11.8% | 2.4% | ||
| Q3 24 | 8.2% | 5.3% | ||
| Q2 24 | 4.1% | 3.2% | ||
| Q1 24 | 7.1% | 4.5% |
| Q4 25 | 12.2% | 1.5% | ||
| Q3 25 | 14.8% | 3.1% | ||
| Q2 25 | 11.6% | 2.0% | ||
| Q1 25 | 13.5% | -2.2% | ||
| Q4 24 | 10.9% | -0.2% | ||
| Q3 24 | 8.0% | 26.1% | ||
| Q2 24 | 5.0% | 2.0% | ||
| Q1 24 | 7.3% | 3.6% |
| Q4 25 | $2.17 | $0.22 | ||
| Q3 25 | $2.50 | $0.40 | ||
| Q2 25 | $1.60 | $0.27 | ||
| Q1 25 | $2.26 | $-0.20 | ||
| Q4 24 | $2.00 | $-0.04 | ||
| Q3 24 | $1.31 | $3.27 | ||
| Q2 24 | $0.58 | $0.26 | ||
| Q1 24 | $0.89 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $423.7M | $4.3M |
| Total DebtLower is stronger | — | $42.6M |
| Stockholders' EquityBook value | $419.7M | $175.3M |
| Total Assets | $1.1B | $330.4M |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $423.7M | $4.3M | ||
| Q3 25 | $275.5M | $3.4M | ||
| Q2 25 | $304.3M | $4.2M | ||
| Q1 25 | $298.4M | $2.6M | ||
| Q4 24 | $299.8M | $2.5M | ||
| Q3 24 | $302.0M | $3.1M | ||
| Q2 24 | $291.8M | $4.0M | ||
| Q1 24 | $306.5M | $3.1M |
| Q4 25 | — | $42.6M | ||
| Q3 25 | — | $58.6M | ||
| Q2 25 | — | $81.4M | ||
| Q1 25 | — | $82.3M | ||
| Q4 24 | — | $46.8M | ||
| Q3 24 | — | $68.4M | ||
| Q2 24 | — | $87.0M | ||
| Q1 24 | — | $77.9M |
| Q4 25 | $419.7M | $175.3M | ||
| Q3 25 | $393.2M | $174.8M | ||
| Q2 25 | $363.9M | $174.4M | ||
| Q1 25 | $351.9M | $170.8M | ||
| Q4 24 | $328.7M | $178.3M | ||
| Q3 24 | $308.1M | $181.9M | ||
| Q2 24 | $293.2M | $147.1M | ||
| Q1 24 | $290.9M | $144.6M |
| Q4 25 | $1.1B | $330.4M | ||
| Q3 25 | $882.7M | $333.9M | ||
| Q2 25 | $792.2M | $349.9M | ||
| Q1 25 | $836.2M | $342.8M | ||
| Q4 24 | $768.9M | $334.6M | ||
| Q3 24 | $726.6M | $344.5M | ||
| Q2 24 | $624.4M | $333.3M | ||
| Q1 24 | $598.2M | $326.4M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.33× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.59× | ||
| Q1 24 | — | 0.54× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $172.5M | $22.2M |
| Free Cash FlowOCF − Capex | $171.9M | $19.8M |
| FCF MarginFCF / Revenue | 68.4% | 12.3% |
| Capex IntensityCapex / Revenue | 0.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 5.61× | 9.18× |
| TTM Free Cash FlowTrailing 4 quarters | $283.0M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $172.5M | $22.2M | ||
| Q3 25 | $34.6M | $29.2M | ||
| Q2 25 | $35.3M | $10.4M | ||
| Q1 25 | $44.6M | $-26.1M | ||
| Q4 24 | $31.8M | $24.3M | ||
| Q3 24 | $73.5M | $24.7M | ||
| Q2 24 | $17.7M | $-5.0M | ||
| Q1 24 | $24.6M | $-21.4M |
| Q4 25 | $171.9M | $19.8M | ||
| Q3 25 | $32.9M | $26.4M | ||
| Q2 25 | $34.9M | $7.7M | ||
| Q1 25 | $43.3M | $-28.7M | ||
| Q4 24 | $29.2M | $22.3M | ||
| Q3 24 | $71.1M | $21.7M | ||
| Q2 24 | $17.4M | $-7.0M | ||
| Q1 24 | $24.0M | $-24.2M |
| Q4 25 | 68.4% | 12.3% | ||
| Q3 25 | 13.8% | 19.1% | ||
| Q2 25 | 18.0% | 5.4% | ||
| Q1 25 | 18.6% | -29.4% | ||
| Q4 24 | 11.4% | 17.4% | ||
| Q3 24 | 31.3% | 15.8% | ||
| Q2 24 | 11.0% | -5.0% | ||
| Q1 24 | 14.6% | -19.4% |
| Q4 25 | 0.2% | 1.5% | ||
| Q3 25 | 0.7% | 2.0% | ||
| Q2 25 | 0.2% | 1.9% | ||
| Q1 25 | 0.6% | 2.6% | ||
| Q4 24 | 1.0% | 1.5% | ||
| Q3 24 | 1.0% | 2.2% | ||
| Q2 24 | 0.2% | 1.5% | ||
| Q1 24 | 0.4% | 2.2% |
| Q4 25 | 5.61× | 9.18× | ||
| Q3 25 | 0.98× | 6.70× | ||
| Q2 25 | 1.57× | 3.61× | ||
| Q1 25 | 1.42× | — | ||
| Q4 24 | 1.13× | — | ||
| Q3 24 | 4.04× | 0.69× | ||
| Q2 24 | 2.24× | -1.74× | ||
| Q1 24 | 2.05× | -4.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGX
| Power Industry Services | $195.5M | 78% |
| Industrial Construction Services | $49.4M | 20% |
| Telecommunications Infrastructure Services | $6.3M | 3% |
FSTR
| Rail Technologies And Services Segment | $98.0M | 61% |
| Over Time Output Method | $26.3M | 16% |
| Services | $19.4M | 12% |
| Rail Technologies Products | $10.0M | 6% |
| Over Time Input Method | $8.3M | 5% |
