ARGAN (ARG.PA) Fundamental Analysis & Valuation

EPA:ARG • FR0010481960

65.9 EUR
-0.1 (-0.15%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This ARG.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

6

Taking everything into account, ARG scores 6 out of 10 in our fundamental rating. ARG was compared to 43 industry peers in the Diversified REITs industry. While ARG has a great profitability rating, there are quite some concerns on its financial health. ARG scores decently on growth, while it is valued quite cheap. This could make an interesting combination. Finally ARG also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

7

1. ARG.PA Profitability Analysis

1.1 Basic Checks

  • ARG had positive earnings in the past year.
  • In the past year ARG had a positive cash flow from operations.
  • ARG had positive earnings in 4 of the past 5 years.
  • ARG had a positive operating cash flow in each of the past 5 years.
ARG.PA Yearly Net Income VS EBIT VS OCF VS FCFARG.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M

1.2 Ratios

  • ARG has a Return On Assets of 6.76%. This is amongst the best in the industry. ARG outperforms 95.35% of its industry peers.
  • The Return On Equity of ARG (12.66%) is better than 93.02% of its industry peers.
  • ARG has a Return On Invested Capital (3.48%) which is in line with its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for ARG is in line with the industry average of 3.59%.
  • The last Return On Invested Capital (3.48%) for ARG is above the 3 year average (3.13%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.76%
ROE 12.66%
ROIC 3.48%
ROA(3y)0.48%
ROA(5y)4.9%
ROE(3y)0.46%
ROE(5y)10.33%
ROIC(3y)3.13%
ROIC(5y)3.04%
ARG.PA Yearly ROA, ROE, ROICARG.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

1.3 Margins

  • ARG's Profit Margin of 139.56% is amongst the best of the industry. ARG outperforms 100.00% of its industry peers.
  • ARG's Profit Margin has declined in the last couple of years.
  • ARG has a better Operating Margin (92.83%) than 93.02% of its industry peers.
  • ARG's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 92.83%
PM (TTM) 139.56%
GM N/A
OM growth 3Y-0.31%
OM growth 5Y17.53%
PM growth 3Y-33.91%
PM growth 5Y-10.3%
GM growth 3YN/A
GM growth 5YN/A
ARG.PA Yearly Profit, Operating, Gross MarginsARG.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 -100 200 300 400

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3

2. ARG.PA Health Analysis

2.1 Basic Checks

  • ARG has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for ARG has been increased compared to 1 year ago.
  • ARG has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ARG has an improved debt to assets ratio.
ARG.PA Yearly Shares OutstandingARG.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
ARG.PA Yearly Total Debt VS Total AssetsARG.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

  • ARG has an Altman-Z score of 1.30. This is a bad value and indicates that ARG is not financially healthy and even has some risk of bankruptcy.
  • ARG has a better Altman-Z score (1.30) than 86.05% of its industry peers.
  • ARG has a debt to FCF ratio of 9.50. This is a negative value and a sign of low solvency as ARG would need 9.50 years to pay back of all of its debts.
  • With an excellent Debt to FCF ratio value of 9.50, ARG belongs to the best of the industry, outperforming 88.37% of the companies in the same industry.
  • A Debt/Equity ratio of 0.76 indicates that ARG is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.76, ARG perfoms like the industry average, outperforming 46.51% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF 9.5
Altman-Z 1.3
ROIC/WACC0.6
WACC5.77%
ARG.PA Yearly LT Debt VS Equity VS FCFARG.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

  • ARG has a Current Ratio of 0.52. This is a bad value and indicates that ARG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • ARG has a Current ratio (0.52) which is comparable to the rest of the industry.
  • A Quick Ratio of 0.52 indicates that ARG may have some problems paying its short term obligations.
  • ARG has a Quick ratio of 0.52. This is comparable to the rest of the industry: ARG outperforms 55.81% of its industry peers.
Industry RankSector Rank
Current Ratio 0.52
Quick Ratio 0.52
ARG.PA Yearly Current Assets VS Current LiabilitesARG.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. ARG.PA Growth Analysis

3.1 Past

  • ARG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 191.42%, which is quite impressive.
  • The Earnings Per Share has been decreasing by -3.87% on average over the past years.
  • Looking at the last year, ARG shows a small growth in Revenue. The Revenue has grown by 7.89% in the last year.
  • Measured over the past years, ARG shows a quite strong growth in Revenue. The Revenue has been growing by 14.50% on average per year.
EPS 1Y (TTM)191.42%
EPS 3Y-30.53%
EPS 5Y-3.87%
EPS Q2Q%39.96%
Revenue 1Y (TTM)7.89%
Revenue growth 3Y8.41%
Revenue growth 5Y14.5%
Sales Q2Q%7.59%

3.2 Future

  • ARG is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 2.50% yearly.
  • The Revenue is expected to grow by 4.44% on average over the next years.
EPS Next Y7.52%
EPS Next 2Y4.02%
EPS Next 3Y2.62%
EPS Next 5Y2.5%
Revenue Next Year6.5%
Revenue Next 2Y5.22%
Revenue Next 3Y4.9%
Revenue Next 5Y4.44%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ARG.PA Yearly Revenue VS EstimatesARG.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 50M 100M 150M 200M
ARG.PA Yearly EPS VS EstimatesARG.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 2 4 6

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8

4. ARG.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • ARG is valuated cheaply with a Price/Earnings ratio of 5.72.
  • Compared to the rest of the industry, the Price/Earnings ratio of ARG indicates a rather cheap valuation: ARG is cheaper than 100.00% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.29, ARG is valued rather cheaply.
  • The Price/Forward Earnings ratio is 10.84, which indicates a very decent valuation of ARG.
  • ARG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ARG is cheaper than 67.44% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of ARG to the average of the S&P500 Index (24.57), we can say ARG is valued rather cheaply.
Industry RankSector Rank
PE 5.72
Fwd PE 10.84
ARG.PA Price Earnings VS Forward Price EarningsARG.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • ARG's Enterprise Value to EBITDA is on the same level as the industry average.
  • 81.40% of the companies in the same industry are more expensive than ARG, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 8.81
EV/EBITDA 18.06
ARG.PA Per share dataARG.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • ARG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.76
PEG (5Y)N/A
EPS Next 2Y4.02%
EPS Next 3Y2.62%

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7

5. ARG.PA Dividend Analysis

5.1 Amount

  • ARG has a Yearly Dividend Yield of 4.92%, which is a nice return.
  • ARG's Dividend Yield is comparable with the industry average which is at 5.12.
  • Compared to an average S&P500 Dividend Yield of 1.82, ARG pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.92%

5.2 History

  • The dividend of ARG is nicely growing with an annual growth rate of 32.61%!
Dividend Growth(5Y)32.61%
Div Incr Years2
Div Non Decr Years2
ARG.PA Yearly Dividends per shareARG.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • 22.47% of the earnings are spent on dividend by ARG. This is a low number and sustainable payout ratio.
  • ARG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP22.47%
EPS Next 2Y4.02%
EPS Next 3Y2.62%
ARG.PA Yearly Income VS Free CF VS DividendARG.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M
ARG.PA Dividend Payout.ARG.PA Dividend Payout, showing the Payout Ratio.ARG.PA Dividend Payout.PayoutRetained Earnings

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ARG.PA Fundamentals: All Metrics, Ratios and Statistics

ARGAN

EPA:ARG (3/6/2026, 7:00:00 PM)

65.9

-0.1 (-0.15%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)01-22
Earnings (Next)04-01
Inst Owners37.31%
Inst Owner ChangeN/A
Ins Owners36.53%
Ins Owner ChangeN/A
Market Cap1.70B
Revenue(TTM)208.43M
Net Income(TTM)290.89M
Analysts78.33
Price Target79.18 (20.15%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.92%
Yearly Dividend2.17
Dividend Growth(5Y)32.61%
DP22.47%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.32%
PT rev (3m)-0.64%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.11%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.07%
Revenue NY rev (3m)-0.19%
Valuation
Industry RankSector Rank
PE 5.72
Fwd PE 10.84
P/S 8.15
P/FCF 8.81
P/OCF 8.8
P/B 0.74
P/tB 0.76
EV/EBITDA 18.06
EPS(TTM)11.52
EY17.48%
EPS(NY)6.08
Fwd EY9.23%
FCF(TTM)7.48
FCFY11.35%
OCF(TTM)7.49
OCFY11.36%
SpS8.09
BVpS89.15
TBVpS86.99
PEG (NY)0.76
PEG (5Y)N/A
Graham Number152.01
Profitability
Industry RankSector Rank
ROA 6.76%
ROE 12.66%
ROCE 4.73%
ROIC 3.48%
ROICexc 3.5%
ROICexgc 3.55%
OM 92.83%
PM (TTM) 139.56%
GM N/A
FCFM 92.47%
ROA(3y)0.48%
ROA(5y)4.9%
ROE(3y)0.46%
ROE(5y)10.33%
ROIC(3y)3.13%
ROIC(5y)3.04%
ROICexc(3y)3.21%
ROICexc(5y)3.17%
ROICexgc(3y)3.25%
ROICexgc(5y)3.22%
ROCE(3y)4.26%
ROCE(5y)4.13%
ROICexgc growth 3Y3.68%
ROICexgc growth 5Y17.66%
ROICexc growth 3Y3.74%
ROICexc growth 5Y18.7%
OM growth 3Y-0.31%
OM growth 5Y17.53%
PM growth 3Y-33.91%
PM growth 5Y-10.3%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.05
Health
Industry RankSector Rank
Debt/Equity 0.76
Debt/FCF 9.5
Debt/EBITDA 8.97
Cap/Depr 68.44%
Cap/Sales 0.09%
Interest Coverage 250
Cash Conversion 99.57%
Profit Quality 66.26%
Current Ratio 0.52
Quick Ratio 0.52
Altman-Z 1.3
F-Score7
WACC5.77%
ROIC/WACC0.6
Cap/Depr(3y)57.59%
Cap/Depr(5y)2471.73%
Cap/Sales(3y)0.08%
Cap/Sales(5y)39.63%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)191.42%
EPS 3Y-30.53%
EPS 5Y-3.87%
EPS Q2Q%39.96%
EPS Next Y7.52%
EPS Next 2Y4.02%
EPS Next 3Y2.62%
EPS Next 5Y2.5%
Revenue 1Y (TTM)7.89%
Revenue growth 3Y8.41%
Revenue growth 5Y14.5%
Sales Q2Q%7.59%
Revenue Next Year6.5%
Revenue Next 2Y5.22%
Revenue Next 3Y4.9%
Revenue Next 5Y4.44%
EBIT growth 1Y7.6%
EBIT growth 3Y8.07%
EBIT growth 5Y34.57%
EBIT Next Year-9.72%
EBIT Next 3Y-0.38%
EBIT Next 5Y0.15%
FCF growth 1Y5.49%
FCF growth 3Y0.28%
FCF growth 5YN/A
OCF growth 1Y5.47%
OCF growth 3Y0.29%
OCF growth 5Y66.22%

ARGAN / ARG.PA FAQ

Can you provide the ChartMill fundamental rating for ARGAN?

ChartMill assigns a fundamental rating of 6 / 10 to ARG.PA.


Can you provide the valuation status for ARGAN?

ChartMill assigns a valuation rating of 8 / 10 to ARGAN (ARG.PA). This can be considered as Undervalued.


Can you provide the profitability details for ARGAN?

ARGAN (ARG.PA) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for ARG stock?

The Price/Earnings (PE) ratio for ARGAN (ARG.PA) is 5.72 and the Price/Book (PB) ratio is 0.74.


Can you provide the dividend sustainability for ARG stock?

The dividend rating of ARGAN (ARG.PA) is 7 / 10 and the dividend payout ratio is 22.47%.