Argan

Argan

67.50
EUR
0.00
(0.00%)
1.56BMarket Cap
Jan 21Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4.39
4.68
4.75
4.66
5.12
5.23
6.97
7.67
8.25
8.67
9.58
9.69
9.81
- -
Basic EPS, GAAP
2.01
2.88
3.5
6.62
6.21
8.86
12.13
12.51
29.7
4.16
-11.43
9.96
9.56
- -
Free Cash Flow per Basic Share
1.31
0.95
0.98
-4.45
-6.07
-6.71
-5.74
5.91
7.09
5.66
8.01
7.03
7.31
- -
Dividend per Share
0.8
0.82
0.85
0.48
0.36
0.58
0.58
1.71
1.12
0.95
2.67
2.13
2.55
- -
Book Value per Share
16.04
17.65
20.6
26.68
32.03
39.91
55.78
66.28
94.11
96.66
81.83
87.72
93.62
96.12
Tangible Book Value per Share
16.04
17.65
20.6
26.68
32.03
39.91
53.27
63.79
91.64
94.24
79.42
85.52
91.45
93.96
Basic Weighted Avg Shares
14
14
14
14
15
16
18
22
22
23
23
25
26
26
Sales/Revenue/Turnover
62
66
67
67
76
85
124
171
186
198
221
239
252
- -
Operating Margin (%)
89.04
91.93
91.27
91.49
91.13
91.23
34.06
77.3
79.25
75.79
77.97
77.72
79.34
- -
Depreciation Expense
- -
- -
5
-1
- -
1
- -
2
- -
- -
- -
- -
- -
- -
Net Income, GAAP
28
41
50
95
92
145
215
279
668
95
-263
246
245
- -
Effective Tax Rate (%)
1.53
0.77
- -
- -
0.77
1.22
- -
0.01
- -
0.03
- -
- -
- -
- -
Profit Margin (%)
45.7
61.61
73.71
141.96
121.2
169.25
174.05
163.04
359.85
48.04
-119.33
102.81
97.47
- -
Working Capital
31
-21
-14
-25
-26
-62
-721
-108
119
-73
-149
-47
-682
-516
LT Debt
639
618
604
625
732
748
886
1,665
1,857
1,820
1,841
1,772
1,111
1,417
Total Equity
226
250
292
386
518
653
1,239
1,479
2,163
2,255
1,922
2,265
2,450
2,517
Return on Invested Capital (%)
6.16
7.12
- -
11.73
9.2
11.24
- -
10.36
18.51
2.69
- -
7.47
6.92
- -
Return on Capital (%)
5.87
7.09
- -
11.56
9.06
11.56
- -
10.18
18.1
2.89
- -
7.13
6.71
- -
Return on Common Equity (%)
13.19
17.13
18.33
28.07
20.29
24.68
22.73
20.53
37.07
4.38
-12.83
11.94
10.58
- -

Capital Structure

EUR

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
ST Debt
100
689
810
LT Borrowings
1,616
1,009
1,324
LT Finance Leases
114
101
93
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
26
26
26
Market Capitalization
1,685
1,698
1,556

Working Capital

EUR

•

in mil. unless spec.
Jun'25
Dec'25
Jun'26
Total Current Assets
114
102
418
Cash, Cash Equivalents & STI
32
27
320
Accounts Receivable, Net
67
60
70
Inventories
- -
- -
- -
Total Current Liabilities
216
784
935
Payables & Accruals
- -
- -
- -
ST Debt
100
689
810
Deferred Revenue
- -
- -
- -

Growth Rates

EUR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
26.3%
12.36%
8.17%
Free Cash Flow
-69.06%
9.4%
8.06%
Net Income, GAAP
-29.27%
-103.34%
-0.2%
Sales/Revenue/Turnover
14.85%
8.04%
5.27%
Total Cash Common Dividend
44.09%
29.01%
24.47%

Semi-annual Revenue

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
239
2025
- -
- -
252
2026
- -
- -
- -

Semi-annual Earnings Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
9.96
2025
- -
- -
9.56
2026
- -
- -
- -

Semi-annual Dividends Per Share

EUR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
2.13
2025
- -
- -
2.55
2026
- -
- -
- -

Company Description

CEO
Ronan Le Lan
Full Time Employees
28
Sector
Finance
Industry
Real estate development
Address
21, rue Beffroy Paris France 92200
IPO Date
Jun 25, 2007
Website
argan.fr
Business
Argan SA Argan SA is a France-based real estate investment company specializing in the development, construction, ownership, leasing, and management of premium warehouses and logistical platforms for major corporate tenants. Founded in 1993 and headquartered in Neuilly-sur-Seine, France, the company operates exclusively within the French market, serving shippers such as BSH Electromenager, Decathlon, L’Oreal, Castorama, and La Poste, as well as logistics providers including DHL, Geodis, ID Logistics, and Norbert Dentressangle; it delivers turnkey projects encompassing design, building, and long-term rental of modern facilities, including its proprietary Aut0nom® line of net carbon-zero warehouses, with a portfolio approaching 3.7 million square meters and near-100% occupancy. Argan SA conducts operations through subsidiaries IMMO CBI Sarl and Immogonesse SAS, focusing on single-client and multi-client logistics platforms in regions such as Ile-de-France, Rhone-Alpes, and others. The company maintains a family-owned structure as the sole French-listed pure player in premium logistics real estate on Euronext Paris since its 2007 IPO, targeting rental income of €210 million and recurring net income of €151 million by end-2025, supported by a €3.91 billion portfolio appraisal (excluding duties) and 43.1% loan-to-value ratio. In recent developments, Argan SA secured a €500 million bridge-to-bond loan in November 2025 from banks including J.P. Morgan, Crédit Agricole CIB, BNP Paribas, and Société Générale to refinance its 2021 bond maturing in 2026; it announced a €220 million investment plan for 2025-2026, including €105 million in 2025 via four self-developments and one acquisition, and €115 million in 2026 via three self-developments, one extension, and two acquisitions, all pre-let to blue-chip clients at an average 6% yield. Key 2025 project deliveries and commencements feature a cross-dock fulfillment center in Lens, Aut0nom® inaugurations in Bain-de-Bretagne and Metz for 4Murs, extensions for Celio and Geodis in Toulouse, new sites for Danone in Sorigny and Nortene Home Depot, a 30,000 sq.m facility for Dimolog near Rennes, and partnerships like with Rexel to cut CO2 emissions by a factor of 14 in Cestas; rental income rose 8% in H1 2025 and 6% over nine months, confirming a full-year +7% growth target, alongside its first GRESB rating, S&P investment-grade affirmation, and ESG report publication.

Company News

  • 2026 ESG REPORT: ARGAN CONFIRMED ITS PROGRESS AND REACHED A FIRST KEY MILESTONE, IN 2025, OF ITS ROADMAP TOWARD 2030