One-glance verdict
Within fair range
$349.77 our estimate vs market $282.62
Wall Street consensus: $379.60 (8.5% higher than our fair-value estimate)
19% below our estimate
Fundamentals snapshot
MYR Group Inc.
MYRG · NMS · Industrials · Engineering & Construction
Current price
$282.62
52-week range
$199.31 - $503.57
Market cap
$4.40B
Balance sheet
Watch
28.79x Strong cushion
Net debt $255.10M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 18.0% last year.
- Reward Returns 26.9% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 8/10 years.
What this company does
MYR Group Inc.
MYR Group Inc. helps build and maintain the power lines and electrical systems that keep our lights on and devices charged, earning most of its money from projects for electric utilities and other large organizations. This work is important because a strong electrical infrastructure is key to keeping homes and businesses running smoothly and supporting new technologies like electric cars. The company focuses on providing these essential construction and repair services, which means its earnings can depend on the pace of infrastructure upgrades and maintenance.
How the company got here
MYR Group's story began in 1891 with The L.E. Myers Co., founded by a salesman for Thomas Edison who aimed to bring electricity to homes and businesses. Over more than a century, the company grew and evolved, becoming a holding company in 1995 called MYR Group Inc. It expanded its reach through strategic acquisitions, building a portfolio of specialized electrical contracting companies. This growth strategy has positioned MYR Group as a significant player in electrical infrastructure across the United States and Canada, with a history that includes going public on NASDAQ in 2008.
What it actually does
MYR Group is a specialty contractor that focuses on electrical infrastructure. Think of them as the folks who build, upgrade, and maintain the systems that deliver electricity. They don't make the electricity itself, but they ensure the power lines, substations, and wiring within buildings and across communities function safely and reliably. Their work is essential for everything from keeping the lights on in your home to powering large industrial facilities and new technologies.
Transmission and Distribution
This is MYR Group's largest business segment, focusing on the backbone of the electrical grid. They work on high-voltage transmission lines that carry electricity over long distances, substations that transform voltage levels, and distribution networks that deliver power to homes and businesses. Services include designing, building, upgrading, and maintaining these critical systems. This segment is crucial for ensuring the reliability and modernization of the power grid, especially with the increasing demand for electricity and the integration of renewable energy sources.
Commercial and Industrial
This segment of MYR Group handles electrical construction for a wide variety of non-utility customers. This includes wiring for commercial buildings like hospitals and data centers, industrial facilities such as manufacturing plants, and infrastructure projects like intelligent transportation systems and roadway lighting. They also work on clean energy projects and electric vehicle charging infrastructure. Essentially, they provide the electrical systems needed for businesses and public infrastructure to operate.
What management is betting on now
MYR Group's management is focused on capitalizing on the growing demand for grid modernization and reliability. They are strategically expanding their presence in attractive commercial and industrial markets, particularly those with high electrical complexity like data centers and transportation projects. A key priority is developing and retaining a skilled workforce, as specialized labor is critical in the electrical construction industry. The company also continues to explore strategic acquisitions to broaden its capabilities and geographic reach, aiming for disciplined growth and strong project execution.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$8.81M
FY2025 Q1
$70.22M
FY2025 Q2
$11.64M
FY2025 Q3
$65.41M
FY2025 Q4
$84.92M
FY2026 Q1
$68.62M
FY2026 Q2
$-25.59M
FY2026 Q3
$9.15M
Revenue
$1.26B
Net income
$60.01M
Diluted EPS
3.82
Operating cash flow
$46.08M
Free cash flow
$9.15M
Fetching…
Sources
Revenue
$1.08B
Net income
$49.85M
Diluted EPS
3.17
Operating cash flow
$3.33M
Free cash flow
$-25.59M
Fetching…
Sources
Revenue
$1.00B
Net income
$46.80M
Diluted EPS
2.99
Operating cash flow
$84.75M
Free cash flow
$68.62M
Fetching…
Sources
Revenue
$973.54M
Net income
$36.55M
Diluted EPS
2.33
Operating cash flow
$114.83M
Free cash flow
$84.92M
Fetching…
Sources
Revenue
$950.40M
Net income
$32.09M
Diluted EPS
2.05
Operating cash flow
$95.59M
Free cash flow
$65.41M
Fetching…
Sources
Revenue
$900.33M
Net income
$26.47M
Diluted EPS
1.70
Operating cash flow
$32.86M
Free cash flow
$11.64M
Fetching…
Sources
Revenue
$833.62M
Net income
$23.31M
Diluted EPS
1.45
Operating cash flow
$83.29M
Free cash flow
$70.22M
Fetching…
Sources
Revenue
$829.79M
Net income
$15.95M
Diluted EPS
0.97
Operating cash flow
$21.12M
Free cash flow
$8.81M
Fetching…
Sources
Is it cheap or expensive?
Fair value $349.77 vs current price $282.62
Wall Street consensus is the average analyst price target: $379.60 (8.5% higher than our fair-value estimate).
Our most-likely fair value is $349.77 a share — about 23.8% away from today's price of $282.62, so the stock currently looks fairly priced.
Is it drowning in debt?
Watch
Net debt $255.1M. Interest coverage 28.8x.
Net debt
$255.10M
Interest coverage
28.79x
MYR Group Inc.'s profit covers its interest bill about 28.8 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
MYRG
BASELINE
MYR Group Inc.
Total debt $281.11M Interest coverage 28.79x This is the baseline the peer rows are being compared against.
Total debt $7.51B Interest coverage 6.07x -79% vs MYRG Carries about 4.7x less debt cushion than MYRG.
Total debt $4.70B Interest coverage 3.77x -87% vs MYRG Carries about 7.6x less debt cushion than MYRG.
Total debt $566.51M Interest coverage 130.49x +353% vs MYRG Carries about 4.5x more debt cushion than MYRG.
Total debt $1.28B Interest coverage 14.42x -50% vs MYRG Carries about 2.0x less debt cushion than MYRG.
Total debt $374.43M Interest coverage 188.03x +553% vs MYRG Carries about 6.5x more debt cushion than MYRG.
What you should know
The case for and against MYRG
3 Rewards
0 Risks
Rewards
-
Revenue grew 18.0% last year.
-
Returns 26.9% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 8/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
22.98x
Forward P/E
18.55x
P/B
5.37x
P/S
1.02x
EV/EBITDA
13.74x
PEG ratio
3.41x
Profitability
How much profit each dollar creates
Gross margin
13.0%
Operating margin
6.7%
Net margin
4.5%
ROE
26.9%
ROA
8.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.34x
Current ratio
1.33x
Quick ratio
1.30x
Total debt
$281.11M
Total cash
$26.01M
Growth
How the business has been compounding
Revenue TTM
$4.31B
Revenue 5Y CAGR
10.0%
EPS TTM
12.30
EPS 5Y CAGR
15.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$248.99M
Free CF TTM
$232.19M
FCF margin
5.4%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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