Company Valuation: Argan

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,629 1,739 1,965 1,536 1,698 1,846 - -
Change - -33.86% 12.99% -21.81% 10.5% 8.77% - -
Enterprise Value (EV) 1 4,325 3,616 3,922 3,236 3,391 3,695 3,709 3,728
Change - -16.39% 8.45% -17.48% 4.77% 8.97% 0.38% 0.51%
P/E 3.92x 18x -7.47x 6.05x 6.88x 10.5x 10.3x 9.64x
PBR - - 1.04x 0.69x 0.71x 0.75x 0.73x 0.7x
PEG - -0.2x 0x -0x -1.72x -0.4x 4.98x 1.4x
Capitalization / Revenue 14.2x 8.79x 8.9x 6.43x 8.01x 8.34x 7.95x 7.68x
EV / Revenue 23.3x 18.3x 17.8x 13.5x 16x 16.7x 16x 15.5x
EV / EBITDA 29.4x 24x 22.8x 17.4x 17x 17.7x 16.9x 16.3x
EV / EBIT 29.4x 31x -19.5x 10.7x 11.7x 16.2x 15.2x 14.8x
EV / FCF 41.9x -32.8x 156x 23.3x - 49.9x 17.8x 17.6x
FCF Yield 2.39% -3.05% 0.64% 4.29% - 2% 5.61% 5.69%
Dividend per Share 2 2.6 3 3.15 3.3 3.45 3.644 3.687 3.798
Rate of return 2.23% 3.96% 3.7% 5.45% 5.23% 5.08% 5.14% 5.3%
EPS 2 29.7 4.2 -11.4 10 9.6 6.82 6.961 7.441
Distribution rate 8.75% 71.4% -27.6% 33% 35.9% 53.4% 53% 51%
Net sales 1 185.6 197.9 220.7 239 212 221.3 232.4 240.5
EBITDA 1 147.1 150.5 172.1 185.7 199.9 208.7 220.1 228.3
EBIT 1 147 116.8 -201.2 302.2 290.9 227.9 244.2 251.8
Net income 1 668 95.1 -263.5 245.7 245.2 182.4 193.7 206.4
Net Debt 1 1,696 1,877 1,957 1,700 1,693 1,848 1,862 1,881
Reference price 2 116.40 75.80 85.20 60.50 66.00 71.70 71.70 71.70
Nbr of stocks (in thousands) 22,587 22,940 23,059 25,392 25,721 25,751 - -
Announcement Date 1/19/22 A 1/19/23 A 1/18/24 A 1/16/25 A 1/22/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.51x16.69x17.71x5.08% 2.12B
40.49x18.95x24.2x3.17% 128B
17.55x14.84x16.9x1.18% 37.24B
34.26x15.84x22.43x3.14% 10.86B
637.92x9.63x13.59x4.57% 8.54B
26.19x13.55x19.8x3.2% 8.19B
34.26x11.67x15.94x4.11% 7.25B
33.31x16.27x24.62x3.28% 7.16B
20.06x12.98x16.76x4.24% 7.06B
8.98x18.23x20.93x5.74% 5.72B
Average 86.35x 14.87x 19.29x 3.77% 22.23B
Weighted average by Cap. 56.58x 17.00x 21.69x 3.04%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

-40%: Exceptional extension
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