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 1,854 - -
Change - -33.86% 12.99% -21.81% 10.5% 9.22% - -
Enterprise Value (EV) 1 4,325 3,616 3,922 3,236 3,391 3,702 3,716 3,735
Change - -16.39% 8.45% -17.48% 4.77% 9.19% 0.38% 0.51%
P/E 3.92x 18x -7.47x 6.05x 6.88x 10.6x 10.3x 9.68x
PBR - - 1.04x 0.69x 0.71x 0.76x 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 8.38x 7.98x 7.71x
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 16.4x
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 - 50x 17.9x 17.6x
FCF Yield 2.39% -3.05% 0.64% 4.29% - 2% 5.6% 5.68%
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% 5.06% 5.12% 5.28%
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 72.00 72.00 72.00
Nbr of stocks (in thousands) 22,587 22,940 23,059 25,392 25,721 25,751 - -
Announcement Date 19/01/22 19/01/23 18/01/24 16/01/25 22/01/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.56x16.73x17.74x5.06% 215.19Cr
40.77x19.05x24.33x3.15% 13TCr
18.44x15.56x17.73x1.12% 3.95TCr
33.54x15.55x22.02x3.2% 1.06TCr
632.1x9.55x13.48x4.61% 845.86Cr
26.01x13.47x19.69x3.22% 813.73Cr
21.79x13.34x17.27x4.1% 745.2Cr
33.84x11.59x15.81x4.16% 716.09Cr
33.06x16.16x24.46x3.31% 711.25Cr
10.01x18.02x18.8x6.14% 585.73Cr
Average 86.01x 14.90x 19.13x 3.81% 2.25TCr
Weighted average by Cap. 55.99x 17.15x 21.78x 3.02%

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

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