Argan SA
PAR:ARG
Income Statement
Earnings Waterfall
Argan SA
Income Statement
Argan SA
| Dec-2009 | Jun-2010 | Dec-2010 | Jun-2011 | Dec-2011 | Jun-2012 | Dec-2012 | Jun-2013 | Dec-2013 | Jun-2014 | Dec-2014 | Jun-2015 | Dec-2015 | Jun-2016 | Dec-2016 | Jun-2017 | Dec-2017 | Jun-2018 | Dec-2018 | Jun-2019 | Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | Jun-2024 | Dec-2024 | Jun-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||
| Interest Expense |
11
|
11
|
14
|
17
|
17
|
18
|
19
|
20
|
21
|
23
|
24
|
24
|
23
|
23
|
21
|
19
|
18
|
19
|
19
|
18
|
23
|
31
|
31
|
30
|
31
|
30
|
30
|
37
|
43
|
46
|
46
|
42
|
|
| Revenue |
30
N/A
|
32
+6%
|
38
+18%
|
43
+13%
|
44
+2%
|
46
+7%
|
52
+12%
|
58
+12%
|
62
+7%
|
64
+4%
|
66
+3%
|
67
+1%
|
67
+1%
|
67
-1%
|
67
+0%
|
70
+5%
|
76
+7%
|
83
+10%
|
85
+3%
|
88
+3%
|
102
+16%
|
125
+23%
|
143
+15%
|
151
+5%
|
158
+5%
|
163
+3%
|
167
+3%
|
177
+6%
|
185
+5%
|
193
+4%
|
201
+4%
|
208
+4%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||
| Cost of Revenue |
(2)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Gross Profit |
28
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
|
| Operating Income | |||||||||||||||||||||||||||||||||
| Operating Expenses |
(1)
|
(3)
|
(3)
|
(3)
|
(4)
|
(5)
|
(6)
|
(5)
|
(7)
|
(7)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(6)
|
(7)
|
(9)
|
(7)
|
(9)
|
(60)
|
(59)
|
(9)
|
(8)
|
(11)
|
(16)
|
(17)
|
(14)
|
(13)
|
(14)
|
(15)
|
(15)
|
|
| Selling, General & Administrative |
(1)
|
(3)
|
(3)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(7)
|
(7)
|
(4)
|
(5)
|
(6)
|
(6)
|
(5)
|
(6)
|
(7)
|
(8)
|
(7)
|
(9)
|
(58)
|
(56)
|
(9)
|
(9)
|
(10)
|
(15)
|
(16)
|
(14)
|
(13)
|
(13)
|
(15)
|
(15)
|
|
| Depreciation & Amortization |
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(2)
|
(2)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Other Operating Expenses |
0
|
0
|
0
|
1
|
1
|
(0)
|
(0)
|
0
|
0
|
(0)
|
(1)
|
(1)
|
0
|
0
|
(0)
|
0
|
1
|
(1)
|
(0)
|
1
|
(0)
|
(0)
|
(0)
|
1
|
(0)
|
(1)
|
(1)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
|
| Operating Income |
27
N/A
|
30
+8%
|
35
+17%
|
40
+14%
|
39
-1%
|
41
+4%
|
46
+13%
|
53
+13%
|
55
+5%
|
57
+4%
|
61
+6%
|
61
+0%
|
62
+1%
|
61
-1%
|
61
+0%
|
65
+6%
|
68
+5%
|
74
+8%
|
78
+5%
|
79
+1%
|
42
-47%
|
66
+57%
|
134
+103%
|
142
+6%
|
147
+3%
|
147
+0%
|
150
+2%
|
163
+9%
|
172
+6%
|
180
+4%
|
186
+3%
|
193
+4%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||
| Interest Income Expense |
(54)
|
(7)
|
6
|
(5)
|
(18)
|
(16)
|
(16)
|
(21)
|
(23)
|
(25)
|
(19)
|
(6)
|
(5)
|
(4)
|
24
|
42
|
18
|
26
|
60
|
147
|
171
|
41
|
138
|
423
|
514
|
502
|
(44)
|
(656)
|
(435)
|
(82)
|
69
|
109
|
|
| Non-Reccuring Items |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(5)
|
(4)
|
(0)
|
0
|
0
|
0
|
0
|
(1)
|
9
|
11
|
0
|
7
|
10
|
2
|
(1)
|
(0)
|
(0)
|
9
|
9
|
18
|
11
|
(7)
|
(0)
|
(0)
|
0
|
(2)
|
(2)
|
|
| Total Other Income |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(3)
|
(3)
|
(1)
|
(1)
|
(6)
|
(6)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(3)
|
(3)
|
(4)
|
|
| Pre-Tax Income |
(28)
N/A
|
21
N/A
|
38
+80%
|
33
-14%
|
20
-40%
|
20
-1%
|
26
+33%
|
32
+22%
|
29
-9%
|
29
+2%
|
41
+41%
|
54
+32%
|
49
-9%
|
61
+22%
|
95
+57%
|
107
+12%
|
92
-13%
|
110
+19%
|
138
+25%
|
224
+62%
|
212
-5%
|
106
-50%
|
279
+164%
|
572
+105%
|
676
+18%
|
657
-3%
|
95
-86%
|
(498)
N/A
|
(266)
+46%
|
94
N/A
|
250
+165%
|
297
+19%
|
|
| Net Income | |||||||||||||||||||||||||||||||||
| Tax Provision |
1
|
2
|
2
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(2)
|
(1)
|
1
|
0
|
(0)
|
0
|
(0)
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
(27)
|
24
|
40
|
33
|
20
|
20
|
26
|
31
|
28
|
29
|
41
|
55
|
50
|
61
|
95
|
107
|
92
|
109
|
137
|
222
|
214
|
108
|
279
|
572
|
676
|
657
|
95
|
(498)
|
(266)
|
94
|
250
|
297
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
0
|
0
|
(4)
|
(8)
|
(5)
|
0
|
4
|
3
|
0
|
(4)
|
(6)
|
|
| Equity Earnings Affiliates |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
4
|
8
|
6
|
1
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
|
| Net Income (Common) |
(27)
N/A
|
24
N/A
|
40
+71%
|
33
-18%
|
20
-40%
|
20
-1%
|
26
+33%
|
31
+20%
|
28
-10%
|
29
+2%
|
41
+42%
|
55
+34%
|
50
-9%
|
61
+22%
|
95
+57%
|
107
+12%
|
92
-14%
|
112
+23%
|
145
+29%
|
228
+58%
|
215
-6%
|
107
-50%
|
279
+160%
|
568
+104%
|
668
+18%
|
652
-2%
|
95
-85%
|
(494)
N/A
|
(263)
+47%
|
95
N/A
|
246
+160%
|
291
+18%
|
|
| EPS (Diluted) |
-2.47
N/A
|
2.23
N/A
|
3.98
+78%
|
2.86
-28%
|
1.57
-45%
|
1.43
-9%
|
1.87
+31%
|
2.23
+19%
|
2.01
-10%
|
2.04
+1%
|
2.88
+41%
|
3.84
+33%
|
3.5
-9%
|
4.24
+21%
|
6.62
+56%
|
7.3
+10%
|
6.21
-15%
|
6.86
+10%
|
8.86
+29%
|
13.85
+56%
|
12.13
-12%
|
4.8
-60%
|
12.51
+161%
|
25.33
+102%
|
29.7
+17%
|
28.68
-3%
|
4.14
-86%
|
-21.45
N/A
|
-11.43
+47%
|
3.95
N/A
|
9.96
+152%
|
11.38
+14%
|
|