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Argan vs Ameresco: revenue, profit, margins and growth compared

Argan brought in $944.6M of revenue in fiscal 2026, Ameresco $1.8B in fiscal 2024. Revenue changed by +8.1% at Argan and +28.8% at Ameresco on the year before, so Ameresco grew faster. Argan kept 14.6% of its revenue as net profit, Ameresco 3.2%. Free cash flow was $410.8M at Argan and $113.3M at Ameresco.

Side by side, latest fiscal year

AGXAMRC
Fiscal year endedFY2026 (January 31, 2026)FY2024 (December 31, 2024)
Revenue$944.6M$1.8B
Revenue growth+8.1%+28.8%
Net income$137.8M$56.8M
Net margin14.6%3.2%
Free cash flow$410.8M$113.3M
Free cash flow margin43.5%6.4%
Earnings per share (diluted)$9.74$1.07
Cash$339.5M$108.5M
Debtn/a$149.4M
Price to earnings37.420.1
Market value$5.1B$1.1B
Dividend yield0.48%n/a
Rank by revenue in sector#473 of 778 · Consumer discretionary#373 of 778 · Consumer discretionary

Over the years

Revenue
AGX FY2018: $482.2MAGX FY2019: $239MAGX FY2021: $392.2MAGX FY2022: $509.4MAGX FY2023: $455MAGX FY2024: $573.3MAGX FY2025: $874.2MAGX FY2026: $944.6MAMRC FY2017: $717.2MAMRC FY2018: $787.1MAMRC FY2019: $866.9MAMRC FY2020: $1BAMRC FY2021: $1.2BAMRC FY2022: $1.8BAMRC FY2023: $1.4BAMRC FY2024: $1.8BFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AGX $944.6MAMRC $1.8B
Net income
AGX FY2018: $52MAGX FY2019: -$42.7MAGX FY2021: $23.9MAGX FY2022: $38.2MAGX FY2023: $33.1MAGX FY2024: $32.4MAGX FY2025: $85.5MAGX FY2026: $137.8MAMRC FY2017: $37.5MAMRC FY2018: $38MAMRC FY2019: $44.4MAMRC FY2020: $54.1MAMRC FY2021: $70.5MAMRC FY2022: $94.9MAMRC FY2023: $62.5MAMRC FY2024: $56.8MFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AGX $137.8MAMRC $56.8M
Net margin
AGX FY2018: 10.8%AGX FY2019: -17.9%AGX FY2021: 6.1%AGX FY2022: 7.5%AGX FY2023: 7.3%AGX FY2024: 5.6%AGX FY2025: 9.8%AGX FY2026: 14.6%AMRC FY2017: 5.2%AMRC FY2018: 4.8%AMRC FY2019: 5.1%AMRC FY2020: 5.2%AMRC FY2021: 5.8%AMRC FY2022: 5.2%AMRC FY2023: 4.5%AMRC FY2024: 3.2%FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AGX 14.6%AMRC 3.2%
Revenue growth
AGX FY2019: -50.4%AGX FY2021: +64.1%AGX FY2022: +29.9%AGX FY2023: -10.7%AGX FY2024: +26.0%AGX FY2025: +52.5%AGX FY2026: +8.1%AMRC FY2018: +9.8%AMRC FY2019: +10.1%AMRC FY2020: +19.1%AMRC FY2021: +17.8%AMRC FY2022: +50.1%AMRC FY2023: -24.7%AMRC FY2024: +28.8%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AGX +8.1%AMRC +28.8%
Free cash flow
AGX FY2018: -$120.9MAGX FY2019: $46.5MAGX FY2021: $174.3MAGX FY2022: $27MAGX FY2023: -$33.4MAGX FY2024: $114.1MAGX FY2025: $161MAGX FY2026: $410.8MAMRC FY2017: -$138.4MAMRC FY2018: -$57.1MAMRC FY2019: -$203MAMRC FY2020: -$104.8MAMRC FY2021: -$177.2MAMRC FY2022: -$343.6MAMRC FY2023: -$75.7MAMRC FY2024: $113.3MFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
AGX $410.8MAMRC $113.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Argan and Ameresco

Which is bigger by revenue, Argan or Ameresco?

Ameresco is bigger by revenue: $1.8B in fiscal 2024, against $944.6M for Argan in fiscal 2026.

Which keeps more of its revenue as profit, Argan or Ameresco?

Argan had a net margin of 14.6% in fiscal 2026; Ameresco had 3.2% in fiscal 2024.

Which grew revenue faster, Argan or Ameresco?

In their latest fiscal years revenue changed by +8.1% at Argan and +28.8% at Ameresco.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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