MYR Group (MYRG)
NASDAQ:MYRG
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MYR Group
(NASDAQ:MYRG)
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Rating:76Outperform
Price Target:
$378.00
▲(14.78% Upside)
Action:ReiteratedDate:03/04/26
The score is driven primarily by improved 2025 profitability/cash flow and a conservative balance sheet, reinforced by constructive uptrend signals and an earnings call indicating continued growth with healthy backlog. The main constraint is valuation (P/E ~36) and the company’s historical volatility in margins and free cash flow.
Positive Factors
Conservative balance sheet
MYR's low leverage and ample liquidity create durable financial flexibility. A conservative balance sheet supports capital allocation (organic investment, tuck-ins, opportunistic buybacks), reduces refinancing risk during downturns and gives resilience to project timing swings common in construction cycles.
Negative Factors
Volatile margins & cash flow
MYR's historical swings in margins and free cash flow reduce predictability of earnings conversion and capital returns. Such variability makes planning for acquisitions or buybacks riskier and means a post‑rebound year may not signal a sustained trend without consistent execution and project mix control.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
MYR's low leverage and ample liquidity create durable financial flexibility. A conservative balance sheet supports capital allocation (organic investment, tuck-ins, opportunistic buybacks), reduces refinancing risk during downturns and gives resilience to project timing swings common in construction cycles.
Read all positive factors
MYR Group (MYRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.20B
Dividend YieldN/A
Average Volume (3M)273.51K
Price to Earnings (P/E)28.9
Beta (1Y)1.67
Revenue Growth-0.64%
EPS Growth168.51%
CountryUS
Employees8,500
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.33
Shares Outstanding15,540,073
10 Day Avg. Volume272,396
30 Day Avg. Volume273,509
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)5.18
Price to Sales (P/S)0.94
P/FCF Ratio14.74
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue1.42
Enterprise Value/Gross Profit12.29
Enterprise Value/Ebitda23.89
Forecast
1Y Price Target
$322.20Price Target Upside-2.17% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)9.29
Revenue Forecast (FY)$4.01B
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:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Positive
Overall the call portrayed a company with strengthening financial results and operational momentum: record revenues, record quarterly net income and EBITDA, meaningful backlog growth, improved margins and substantially stronger operating and free cash flow. Management highlighted important strategic wins (MSAs, data center and transmission awards), conservative balance sheet metrics (low leverage, strong liquidity) and continued market demand. Noted headwinds were project-level inefficiencies, a modest increase in SG&A, potential cash-flow profile sensitivity to contract mix, and execution/timing risks from weather and permitting. On balance, the positive financial performance, backlog expansion and liquidity position outweigh the identified operational challenges.Positive Updates
Record Annual Revenue and Profitability
Full-year 2025 record revenues of $3.7 billion, full-year net income of $118 million and EBITDA of $233 million, demonstrating improved overall profitability and scale.
Negative Updates
Project Inefficiencies and Cost Pressure on Certain Jobs
Management noted increases in costs associated with inefficiencies on certain projects that partially offset margin improvements; no specific dollar figure provided but flagged as a margin headwind in Q4.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Annual Revenue and Profitability
Full-year 2025 record revenues of $3.7 billion, full-year net income of $118 million and EBITDA of $233 million, demonstrating improved overall profitability and scale.
Read all positive updates
Company Guidance
MYR gave directional (not formal) guidance that 2026 should see roughly "10%-ish" revenue growth across both T&D and C&I, with operating margins expected to sit in the mid‑part of their targeted step‑up range (the referenced target range was ~5.0%–7.5%), and Q1 revenue should run a bit above the full‑year growth rate given an easier comp; management reiterated large transmission awards are expected to start burning in 2027 and cited weather and permitting/timing as the main execution risks. Key metrics called out on the call: FY‑2025 revenues $3.7B, FY EBITDA $233M and net income $118M; Q4 revenues $974M, Q4 EBITDA $64M and net income $37M ($2.33 diluted EPS); total backlog $2.8B (+9.6% YoY) with T&D $1.0B (≈20% YoY) and C&I $1.8B; Q4 operating cash flow $115M and free cash flow $85M; liquidity of $150M cash, $59M funded debt, $408M revolver availability and working capital ~ $265M, with funded debt/EBITDA leverage ~0.25x; DSO improved to the mid‑50s (≈16 days better YoY from ~70). Management emphasized prioritizing organic growth and tuck‑in acquisitions, opportunistic share repurchases, and continued selectivity to protect margins.MYR Group Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
82
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.66B | 3.36B | 3.64B | 3.01B | 2.50B |
| Gross Profit | 423.80M | 290.32M | 364.40M | 343.96M | 324.98M |
| EBITDA | 217.94M | 118.21M | 189.08M | 175.94M | 164.31M |
| Net Income | 118.37M | 30.26M | 90.99M | 83.38M | 85.01M |
Balance Sheet | |||||
| Total Assets | 1.64B | 1.57B | 1.58B | 1.40B | 1.12B |
| Cash, Cash Equivalents and Short-Term Investments | 150.16M | 3.46M | 24.90M | 51.04M | 82.09M |
| Total Debt | 103.51M | 119.99M | 73.61M | 74.55M | 25.50M |
| Total Liabilities | 983.66M | 973.70M | 927.54M | 838.66M | 601.99M |
| Stockholders Equity | 660.42M | 600.36M | 651.20M | 560.20M | 519.10M |
Cash Flow | |||||
| Free Cash Flow | 232.19M | 11.18M | -13.72M | 90.43M | 84.87M |
| Operating Cash Flow | 326.57M | 87.11M | 71.02M | 167.48M | 137.23M |
| Investing Cash Flow | -86.18M | -67.21M | -79.13M | -185.73M | -49.30M |
| Financing Cash Flow | -94.07M | -39.96M | -18.37M | -9.27M | -28.09M |
MYR Group Technical Analysis
Positive
329.33
Price Trends
279.16
Positive
255.23
Positive
226.18
Positive
Market Momentum
14.42
Negative
71.13
Negative
90.33
Negative
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 above the 20-day moving average (MA) of 294.38, above the 50-day MA of 279.16, and above the 200-day MA of 226.18, indicating a bullish trend. The MACD of 14.42 indicates Negative momentum. The RSI at 71.13 is Negative, neither overbought nor oversold. The STOCH value of 90.33 is Negative, 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | $8.58B | 35.01 | 33.62% | 0.49% | 13.49% | 77.73% | |
76 Outperform | $5.20B | 28.92 | 19.65% | ― | -0.64% | 168.51% | |
76 Outperform | $6.59B | 21.65 | 37.06% | ― | 28.20% | 24.27% | |
70 Outperform | $5.39B | 26.09 | 17.58% | 0.45% | 6.87% | 64.56% | |
70 Outperform | $4.49B | 30.66 | 6.77% | 0.09% | 19.22% | 78.83% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
49 Neutral | $1.41B | 34.84 | 4.24% | ― | 12.22% | 17.41% |
* Industrials Sector Average
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MYR Group Corporate Events
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.