HIGHBuilt-inProduct / Revenue mix
80.1%
Power segment
“10-K Item 1A: 'the Power segment, which represented 80.1%, 79.3% and 72.6% of consolidated revenues for Fiscal 2026'”
AGX · Concentration risk · 10-K extracted
Argan (AGX) concentration risks
Updated
The most significant concentration Argan discloses is Power segment at 80.1%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Argan’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM0
LOW3
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWOutside partyCustomer
23%
top Power segment customer
“10-K Item 1: 'three Power segment customers, which accounted for approximately 23%, 16% and 11% of consolidated revenues'”
LOWOutside partyCustomer
16%
second Power segment customer
“10-K Item 1: 'three Power segment customers, which accounted for approximately 23%, 16% and 11% of consolidated revenues'”
LOWOutside partyCustomer
11%
third Power segment customer
“10-K Item 1: 'three Power segment customers, which accounted for approximately 23%, 16% and 11% of consolidated revenues'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24Argan's concentration profile is dominated by a single business segment: the Power segment represented 80.1% of consolidated revenues in Fiscal 2026, making it the company's overwhelming revenue driver by disclosed size. This is a high-share, structural exposure — the company is essentially a power-construction business, and the portfolio tilt is a deliberate strategic choice rather than a customer-driven dependency that could be reversed. Within that segment, customer concentration is present but at a more limited scale. Three Power segment customers accounted for approximately 23%, 16%, and 11% of consolidated revenues, respectively. Each individual relationship, measured against total consolidated revenues, is a small share by disclosed size. However, since the Power segment already dominates the top line, the combined weight of these three customers within that segment is substantial. A loss or delay in any large power project from the top customer alone could create a meaningful near-term revenue gap, given the project-based nature of the work. The net picture is a company with a deliberate structural tilt into power-sector construction, with customer relationships that are individually modest in share but concentrated within an already concentrated segment. The structural product concentration is the primary exposure to track; the individual customer dependencies add a second layer of project-timing risk on top of it.
For the engine’s reasoning on AGX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Engineering & Construction
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACA | Arcosa, Inc. | 1 | 1 | 1 | 3 |
| AGX● | Argan, Inc. | 1 | 0 | 3 | 4 |
| ACM | AECOM | 0 | 2 | 0 | 2 |
| BLD | TopBuild Corp. | 0 | 1 | 0 | 1 |
| CDNL | Cardinal Infrastructure Group I | 0 | 1 | 0 | 1 |
| APG | APi Group Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.