MYR Group Inc (MYRG)
NASDAQ:MYRG
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MYR Group
(NASDAQ:MYRG)
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Rating:79Outperform
Price Target:
$466.00
▲(41.50% 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
Conservative balance sheet
Very low funded leverage and a strong equity base provide durable financial flexibility in a cyclical, execution‑sensitive industry. This balance-sheet strength supports funding organic growth, M&A, and higher CapEx without pressuring liquidity, cushioning the company against project timing volatility.
Negative Factors
Structurally thin, volatile margins
The business operates in a low‑margin contracting sector where small cost overruns or pricing pressure can erase gains. Even with recent improvements, thin margins and historical volatility mean earnings and cash conversion remain sensitive to execution, input costs, and competitive dynamics.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low funded leverage and a strong equity base provide durable financial flexibility in a cyclical, execution‑sensitive industry. This balance-sheet strength supports funding organic growth, M&A, and higher CapEx without pressuring liquidity, cushioning the company against project timing volatility.
Read all positive factors
MYR Group (MYRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.44B
Dividend YieldN/A
Average Volume (3M)274.91K
Price to Earnings (P/E)52.3
Beta (1Y)1.69
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. Volume288,669
30 Day Avg. Volume274,907
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 Cap0.92
Enterprise Value/Revenue1.78
Enterprise Value/Gross Profit14.94
Enterprise Value/Ebitda25.68
Forecast
1Y Price Target
$504.25Price Target Upside53.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)11.43
Revenue Forecast (FY)$4.11B
MYR Group Business Overview & Revenue Model
Company Description
Operating across the United States and Canada, MYR Group Inc. is a leading provider of electrical construction services, delivered through its two core divisions: Transmission and Distribution, and Commercial and Industrial. Its Transmission and D...
How the Company Makes Money
MYR Group primarily makes money by contracting to build, upgrade, and maintain electrical infrastructure and electrical systems for utilities and other large customers, earning revenue as it performs work on awarded projects. Revenue is largely ge...
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 | 265.52M | 233.44M | 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
Positive
329.33
Price Trends
428.20
Positive
352.36
Positive
285.16
Positive
Market Momentum
13.25
Negative
59.81
Neutral
78.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MYRG, the sentiment is Positive. The current price of 329.33 is below the 20-day moving average (MA) of 451.53, below the 50-day MA of 428.20, and above the 200-day MA of 285.16, indicating a bullish trend. The MACD of 13.25 indicates Negative momentum. The RSI at 59.81 is Neutral, neither overbought nor oversold. The STOCH value of 78.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | $7.93B | 35.46 | 37.17% | ― | 29.70% | 46.91% | |
79 Outperform | $7.44B | 52.35 | 22.14% | ― | 13.14% | 317.43% | |
77 Outperform | $10.73B | 65.82 | 36.89% | 0.49% | 14.47% | 57.43% | |
72 Outperform | $7.02B | 37.92 | 16.70% | 0.45% | 14.93% | 49.81% | |
72 Outperform | $4.18B | 53.42 | 6.50% | 0.09% | 25.67% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
47 Neutral | $1.42B | 45.46 | 2.94% | ― | 8.57% | -42.26% |
* Industrials Sector Average
MYRG
MYR Group
477.95
295.34
161.73%
AMRC
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GVA
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TPC
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ECG
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155.33
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144.92%
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...
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.