MYR Group Inc (MYRG)
NASDAQ:MYRG
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MYR Group
(NASDAQ:MYRG)
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Rating:79Outperform
Price Target:
$540.00
▲(63.97% Upside)
Action:Reiterated
Date:05/29/26
The score is driven primarily by strong financial positioning (low leverage and improved profitability) and bullish technical momentum (price well above key moving averages with strong MACD). The latest earnings call reinforces the outlook with upgraded 2026 growth and margin targets and record backlog, while valuation (P/E ~23.4 with no dividend yield provided) and the industry’s historically volatile cash conversion temper the overall score.
Positive Factors
Record backlog & durable demand
A $2.84B backlog provides multi‑quarter revenue visibility and a high starting base for execution, insulating near‑term top‑line from spot demand swings. Backlog tied to grid modernization, data centers and nonresidential work supports steady project pipelines and contract conversion over coming quarters.
Negative Factors
Structurally thin margins & cyclicality
Net margins are modest (TTM net margin ~3.7%) and results have been cyclical. Small margin buffers mean cost inflation, competitive bid pressure, or execution slips can quickly compress profitability and returns, making sustained margin delivery critical for long‑term cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Record backlog & durable demand
A $2.84B backlog provides multi‑quarter revenue visibility and a high starting base for execution, insulating near‑term top‑line from spot demand swings. Backlog tied to grid modernization, data centers and nonresidential work supports steady project pipelines and contract conversion over coming quarters.
Read all positive factors
MYR Group (MYRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.87B
Dividend YieldN/A
Average Volume (3M)303.37K
Price to Earnings (P/E)49.4
Beta (1Y)1.67
Revenue Growth13.14%
EPS Growth317.43%
CountryUS
Employees8,500
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)9.13
Shares Outstanding15,571,036
10 Day Avg. Volume250,366
30 Day Avg. Volume303,372
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)5.18
Price to Sales (P/S)0.93
P/FCF Ratio14.72
Enterprise Value/Market Cap1.04
Enterprise Value/Revenue1.87
Enterprise Value/Gross Profit15.64
Enterprise Value/Ebitda27.32
Forecast
1Y Price Target
$504.25Price Target Upside53.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)11.37
Revenue Forecast (FY)$4.11B
MYR Group Business Overview & Revenue Model
Company Description
MYR Group Inc., through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segme...
How the Company Makes Money
MYR Group primarily makes money by performing contracted electrical construction and maintenance work and recognizing revenue as project obligations are satisfied under customer contracts. Key revenue streams include: (1) Transmission & Distributi...
MYR Group Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial performance for 1Q26: robust top-line growth (+20% YoY), record net income and EBITDA, margin expansion across segments, record backlog, solid liquidity and conservative leverage. Management also provided constructive guidance (~12% revenue growth for the year and higher target margin ranges) and cited durable demand drivers (electrification, data centers, water/wastewater, grid modernization). Near-term headwinds include isolated project inefficiencies that increased costs, a modest rise in SG&A, slightly lower free cash flow due to higher CapEx expectations (~3% of revenue), potential DSO pressure from higher MSA mix, and timing/lumpiness of large project starts (some not generating revenue until 2027). Overall, the positives materially outweigh the negatives.Positive Updates
Strong Revenue Growth
Total revenue of $1.0 billion in 1Q26, up $167 million or 20% year-over-year.
Negative Updates
Project Inefficiencies Increasing Costs on Some Jobs
Company disclosed increased costs associated with inefficiencies on certain projects that partially offset margin improvements (no single-project dollar given; mentioned multiple times).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue of $1.0 billion in 1Q26, up $167 million or 20% year-over-year.
Read all positive updates
Company Guidance
Management updated forward-looking expectations for 2026 with organic revenue growth of roughly 12% for the year (vs. the ~10% per‑segment expectation entering the year), operating margin targets of 6%–9% for C&I and 8%–11% for T&D (aiming to operate near the mid‑points), CapEx trending to about 3% of revenue, and DSO that could rise from the mid‑50s toward the low‑60s; liquidity and balance‑sheet metrics remain strong with $163M cash, $460M borrowing availability, $258M of working capital, $9M funded debt and a funded‑debt/EBITDA ratio of 0.04x, while backlog was a record $2.84B (T&D $981M; C&I $1.86B).MYR Group Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.82B | 3.66B | 3.36B | 3.64B | 3.01B | 2.50B |
| Gross Profit | 456.48M | 418.97M | 290.32M | 364.40M | 343.96M | 324.98M |
| EBITDA | 261.30M | 229.12M | 118.21M | 189.08M | 175.94M | 164.31M |
| Net Income | 141.91M | 118.42M | 30.26M | 90.99M | 83.38M | 85.01M |
Balance Sheet | ||||||
| Total Assets | 1.67B | 1.64B | 1.57B | 1.58B | 1.40B | 1.12B |
| Cash, Cash Equivalents and Short-Term Investments | 163.19M | 150.16M | 3.46M | 24.90M | 51.04M | 82.09M |
| Total Debt | 61.52M | 103.51M | 119.99M | 73.61M | 74.55M | 25.50M |
| Total Liabilities | 970.61M | 983.66M | 973.70M | 927.54M | 838.66M | 601.99M |
| Stockholders Equity | 702.82M | 660.42M | 600.36M | 651.20M | 560.20M | 519.10M |
Cash Flow | ||||||
| Free Cash Flow | 230.59M | 232.19M | 11.18M | -13.72M | 90.43M | 84.87M |
| Operating Cash Flow | 328.03M | 326.57M | 87.11M | 71.02M | 167.48M | 137.23M |
| Investing Cash Flow | -90.47M | -86.18M | -67.21M | -79.13M | -185.73M | -49.30M |
| Financing Cash Flow | -85.45M | -94.07M | -39.96M | -18.37M | -9.27M | -28.09M |
MYR Group Technical Analysis
Neutral
329.33
Price Trends
384.45
Positive
323.83
Positive
266.38
Positive
Market Momentum
16.80
Positive
54.86
Neutral
31.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYRG, the sentiment is Neutral. The current price of 329.33 is below the 20-day moving average (MA) of 455.06, below the 50-day MA of 384.45, and above the 200-day MA of 266.38, indicating a neutral trend. The MACD of 16.80 indicates Positive momentum. The RSI at 54.86 is Neutral, neither overbought nor oversold. The STOCH value of 31.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MYRG.
MYR Group Risk Analysis
MYR Group disclosed 32 risk factors in its most recent earnings report. MYR Group reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MYR Group Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $7.76B | 35.38 | 37.17% | ― | 29.70% | 46.91% | |
79 Outperform | $6.87B | 49.43 | 22.14% | ― | 13.14% | 317.43% | |
79 Outperform | $9.58B | 59.58 | 33.62% | 0.49% | 14.47% | 57.43% | |
72 Outperform | $6.19B | 33.27 | 16.70% | 0.45% | 14.93% | 49.81% | |
72 Outperform | $3.81B | 47.60 | 6.50% | 0.09% | 25.67% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $1.73B | 47.81 | 2.94% | ― | 8.57% | -42.26% |
* Industrials Sector Average
MYRG
MYR Group
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MYR Group Corporate Events
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
MYR Group Highlights Valley Holdings Acquisition in Investor Update
Positive
May 28, 2026
On May 27, 2026, MYR Group updated its investor presentation materials to reflect its agreement to acquire all issued and outstanding shares of Valley Holdings I, Inc. and its subsidiaries, following a same-day press release announcing the deal. M...
Business Operations and StrategyM&A Transactions
MYR Group to Acquire Valley Holdings and Subsidiaries
Positive
May 27, 2026
On May 27, 2026, MYR Group Inc. announced it had entered a definitive agreement to acquire Valley Holdings I, Inc. and its subsidiaries, including Valley Electric Company, Inc. and Comet Electric, Inc., for approximately $328 million, subject to r...
Business Operations and StrategyFinancial Disclosures
MYR Group Highlights Growth Drivers in Q1 2026 Presentation
Positive
May 14, 2026
On May 14, 2026, MYR Group posted Q1 2026 investor presentation materials outlining its role as a top U.S. specialty electrical contractor, with last‑twelve‑months revenue of $3.82 billion through March 31, 2026 and sustained double...
Executive/Board ChangesShareholder Meetings
MYR Group Shareholders Approve Directors, Pay and Auditor
Positive
Apr 28, 2026
At its April 23, 2026 annual meeting, MYR Group, Inc. shareholders elected eight directors, including Bradley T. Favreau and Richard S. Swartz, to one-year terms expiring at the 2027 meeting, reinforcing continuity in the company’s board lea...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
MYR Group Updates Investor Materials Highlighting Growth Strategy
Positive
Mar 3, 2026
On March 3, 2026, MYR Group Inc. posted updated investor presentation materials outlining its recent performance and strategic positioning, which management plans to use in meetings with investors and other stakeholders during the first quarter of...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.