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MYRG

MYR Group Inc.

MYRG

MYR Group Inc. • NASDAQ
$224.32 ▲ 1.20% (+2.67)
Market Cap $3.48 B
52w High $241.13
52w Low $97.72
Dividend Yield 0%
P/E 36.36
Volume 118.36K
Outstanding Shares 15.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $950.4M ▲ $65.621M ▲ $32.094M ▲ 3.377% ▲ $2.07 ▲ $62.91M ▲
Q2-2025 $900.325M ▲ $63.924M ▲ $26.466M ▲ 2.94% ▲ $1.7 ▲ $55.644M ▲
Q1-2025 $833.62M ▲ $62.611M ▲ $23.308M ▲ 2.796% ▲ $1.46 ▲ $34.29M ▼
Q4-2024 $829.795M ▼ $55.788M ▼ $15.952M ▲ 1.922% ▲ $0.99 ▲ $45.61M ▲
Q3-2024 $888.043M $56.927M $10.649M 1.199% $0.65 $37.239M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $76.211M ▲ $1.645B ▲ $1.028B ▲ $617.588M ▲
Q2-2025 $22.956M ▲ $1.587B ▲ $1.004B ▲ $583.234M ▲
Q1-2025 $10.896M ▲ $1.522B ▼ $973.389M ▼ $548.672M ▼
Q4-2024 $3.464M ▼ $1.574B ▼ $973.699M ▼ $600.36M ▲
Q3-2024 $7.569M $1.593B $1.005B $588.509M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $32.094M ▲ $95.59M ▲ $-27.89M ▼ $-14.381M ▼ $53.255M ▲ $65.412M ▲
Q2-2025 $26.466M ▲ $32.861M ▼ $-19.673M ▼ $-1.549M ▲ $12.06M ▲ $11.638M ▼
Q1-2025 $23.308M ▲ $83.286M ▲ $-10.89M ▼ $-64.972M ▼ $7.432M ▲ $70.22M ▲
Q4-2024 $15.952M ▲ $21.119M ▼ $-10.393M ▲ $-13.919M ▲ $-4.105M ▼ $8.815M ▼
Q3-2024 $10.649M $35.625M $-14.238M $-15.763M $5.7M $17.952M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Commercial And Industrial
Commercial And Industrial
 $0 ▲$1.75Bn ▲$1.70Bn ▼$1.72Bn ▲
Transmission And Distribution
Transmission And Distribution
 $0 ▲$620.00M ▲$630.00M ▲$620.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown meaningfully over the past five years, reflecting a healthy demand backdrop in power infrastructure and commercial projects, although the most recent year shows a step back from the prior peak. Profitability improved steadily for several years but then compressed sharply in the latest period, with earnings dropping much faster than sales. That points to cost pressures, project mix issues, or specific problem jobs weighing on margins rather than a collapse in overall demand. Even with the setback, the business remains profitable, but its earnings now look more volatile and sensitive to execution. The key question going forward is whether the recent margin squeeze is temporary or signals a tougher, more competitive phase for new work.

Balance Sheet

Balance Sheet The balance sheet looks conservative and generally stronger than it was five years ago. Total assets have expanded alongside the business, while shareholders’ equity has grown steadily, indicating that past profits have mostly been retained and reinvested. Debt remains relatively low compared with the size of the company, although it has ticked up recently, so leverage is still manageable rather than aggressive. Cash balances are modest, suggesting the company relies more on ongoing cash generation and credit lines than on a large cash cushion. Overall, financial flexibility appears solid for a contractor, but there is less room for prolonged cash strain if project conditions worsen.

Cash Flow

Cash Flow Operating cash flow has been consistently positive over the period, but it moves around quite a bit from year to year, which is typical for project‑based businesses with shifting working capital needs. Free cash flow has generally been positive as well, though it has been thin or slightly negative in the most recent years as capital spending has stayed elevated. Management is clearly reinvesting steadily in equipment and capabilities rather than cutting back, which supports future capacity but reduces near‑term cash surplus. The pattern suggests a business that can fund its growth from internal cash over time, but with occasional years where cash is tight if working capital or capex swing unfavorably. Stability of cash conversion and discipline on new projects will be important watch points.

Competitive Edge

Competitive Edge MYR Group holds a strong position in North American electrical infrastructure, supported by its national footprint, long relationships with major utilities, and a large specialized equipment fleet. Its mix of transmission and distribution work plus commercial and industrial projects provides some diversification, helping smooth out cycles in any single end market. Multi‑year service agreements and a strong safety record create switching costs for customers and help support recurring work. At the same time, the company operates in a competitive bidding environment where margins can be pressured by rivals, labor constraints, and project complexity. Its edge seems to come more from scale, execution track record, and niche expertise than from any single proprietary technology, which means maintaining that edge requires constant operational excellence.

Innovation and R&D

Innovation and R&D Although it is not a classic research‑heavy company, MYR Group is actively applying technology and process innovation to its construction work. In commercial and industrial projects, tools like 3D modeling, virtual reality, prefabrication, and drones aim to reduce rework, improve safety, and shorten schedules. In transmission and distribution, the company’s large, tech‑enabled fleet and centralized equipment management are important operational differentiators, helping it tackle complex, large‑scale jobs efficiently. It is also leaning into high‑growth areas such as data centers, grid modernization, and renewable energy interconnections, often using turnkey project models that require strong technical and coordination capabilities. Future value will depend on how well it continues to integrate these tools, attract skilled labor, and selectively acquire new capabilities in emerging energy and data infrastructure niches.

Summary

MYR Group has grown meaningfully over the last five years and built a solid financial base, but the most recent year shows that its earnings can be quite cyclical and sensitive to project conditions. The company’s low leverage and growing equity base provide a cushion, while its cash flows, though uneven, have generally covered reinvestment. Strategically, it appears well positioned in attractive long‑term themes like grid modernization, data centers, and clean energy connections, supported by a strong safety record, specialized fleet, and long‑standing utility relationships. The main risks revolve around project execution, competitive bidding pressure, labor availability, and the timing of large infrastructure and data‑center spending cycles. How quickly margins recover from the recent dip, and how effectively the company converts its strong market position into steadier, higher‑quality earnings, are key aspects for observers to monitor.

NEWS

November 18, 2025 · 4:05 PM UTC

MYR Group Inc. to Attend Oppenheimer Winter Industrial Virtual Summit in December

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November 12, 2025 · 4:05 PM UTC

MYR Group Inc. to Attend Bernstein Insights Industrials Forum in December

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November 3, 2025 · 4:00 PM UTC

MYR Group Inc. to Attend UBS Global Industrials and Transportation Conference in December

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October 15, 2025 · 4:00 PM UTC

MYR Group Inc. Announces Third Quarter 2025 Earnings Release and Conference Call Schedule

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October 9, 2025 · 4:00 PM UTC

MYR Group Inc. to Attend Baird 2025 Global Industrial Conference in November

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