So, everyone’s suddenly worried the “Magnificent Seven” – great name, by the way, sounds like a washed-up Vegas act – are spending too much on… wires? Servers? Whatever it is they do. Artificial intelligence. It’s all very impressive, I guess, if you like things thinking for themselves. I don’t. Too much potential for judgment. Anyway, all that money’s gotta go somewhere, and apparently, it’s trickling down to companies like Argan (AGX 0.65%). Which, honestly, sounds like a villain from a low-budget sci-fi film. But they build stuff. Power stuff. And that, apparently, is good for the stock price.
This week, Argan’s shares jumped 16.4%. Sixteen point four! Like it suddenly discovered the cure for… inefficient power grids. I mean, it’s a stock. It goes up, it goes down. It’s not supposed to be so… enthusiastic. It’s unsettling. And now everyone’s talking about it. Like they discovered something new. It’s just building things. Things that require electricity. It’s not rocket science, people!
Another Data Center Play (Seriously?)
Argan does engineering, construction, and… commissioning? What is commissioning? It sounds like a medieval knighting ceremony for power outlets. They build stuff for the power and industrial construction industries. Which, again, sounds ominous. And apparently, everyone’s building data centers. Data centers! Like we don’t have enough information already. It’s all just…noise. But, fine, build your data centers. It’s driving up demand for Argan’s services, and that’s apparently good for shareholders. I’m just saying, I feel like we’re heading towards a society powered entirely by cat videos and targeted ads. Is that what we want?
Revenue is up 6.4%—a perfectly acceptable, reasonable increase—to about $682 million. Not bad. But the backlog? Three billion dollars. Three billion! That’s…a lot of wires. A lot of commissioning. It’s enough to make a person question their life choices. The stock’s up 177% in the last year. One hundred and seventy-seven percent! It’s…excessive. It’s almost mocking me.
Now, everyone’s saying, “Oh, it might be too late to get in.” Maybe they’re right. The forward P/E ratio is 43. Forty-three! It used to be, you could get a decent company for, like, 15, 20. Now it’s 43. It’s highway robbery, I tell you. But here’s the thing: if these tech companies actually make money off all this data center growth—and that’s a big ‘if’—they’ll need even more help from Argan. More wires. More commissioning. It’s a vicious cycle. A profitable, infuriating cycle. And, of course, the dividend yield is… well, it’s something. It’s not spectacular, but it’s there. A little something to soothe the soul while the world descends into data-driven chaos. I just wish they’d make the website easier to navigate. It’s a nightmare. A complete and utter nightmare.
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2026-02-14 20:42