Argan Powers growing backlog across renewables/gas-fired plants to $2.8B and ongoing capacity expansion position it to capitalize on the multi-year data center and power generation capex trends. These developments underscore their higher contract pricing opportunity, with the improved operating leverage and the richer FCF/balance sheet also delivering significant competitive advantage. Thanks to the triple digits YTD rally, it is unsurprising that AGX trades at a steep P/E of 56.64x and 3Y PEG of 2.87x, well above sector and historical averages.