MYR Group Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today bets that the grid and data center cycle carries for years, that fixed-price discipline holds, and that the analysts with their raised estimates (about $11.47 per share for the current year) prove right — and pays multiples this contractor has never sustained before. Whoever waits checks three things in every quarterly report (10-Q): the "significant estimate changes" as the early-warning signal of the fixed-price job sites, backlog growth against the share price, and whether a new repurchase program is authorized and actually used. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
MYR Group is the rare combination of century-old trade business and momentum leader: on the grid since 1891, practically debt-free, a record quarter with 20 percent growth, Piotroski 9 of 9 — and the power hunger of AI data centers stands as a demand driver in its own quarterly report. Against that stand a business model that rests 57 percent on fixed prices and lost two thirds of its profit in a single solar year (2024), a backlog growing at a merely normal pace, and a share price at 53 times trailing earnings — a level at which the leadership preferred to let its own buyback program lapse. Whoever invests here buys first-class execution at a price that assumes flawlessness. Not investment advice.
Demand & order book
The quarterly report (10-Q as of 03/31/2026) explicitly names AI data centers, electrification and reshoring as investment drivers for customers; Q1 2026 grew 20 percent to $1,000.4 million — only the second billion-dollar quarter in company history. The $2.84 billion backlog (+7.6 percent), however, grows far more slowly than the share price.
Profitability & balance sheet
Record year 2025 ($118.4 million net income, $326.6 million operating cash flow), gross margin recovered from 8.6 to 11.6 percent and 13.4 percent in Q1 2026; $163.2 million cash against $9.4 million remaining debt, Piotroski 9 of 9, Altman-Z around 6.9, return on equity around 23 percent (data as of July 10, 2026).
Project & fixed-price risk
57 percent of revenue at fixed prices (C&I: 84.5 percent), cost overruns per the 10-K "may not be recoverable"; 2024 proved the drop height: clean energy losses erased 5.5 percentage points of T&D margin and group net income fell 67 percent. Even in the record year 2025, negative estimate changes cost 2.4 gross margin points; the collective bargaining agreements (85 percent of craft workers) expire between 2026 and 2028.
Valuation
P/E around 53 trailing and around 42 on the current-year estimate, price-to-book around 11, price-to-sales around 2 on a 3 to 5 percent net margin (data as of July 10, 2026) — historically high multiples for a cyclical project business; the company's own last buybacks averaged $117.33 (2025).
Market technicals & capital allocation
A stage-2 uptrend, relative strength of 95, 22 scanner hits, institutional accumulation (11 adding, 6 trimming) and only about 3 percent to the all-time high meet a management team that let its $75 million repurchase program expire unused on February 4, 2026, and pays no dividend — the trend strength is real, and so is the leadership's price verdict on its own stock (10-K for 2025, Item 5).
Worth Noting
MYRG landed on the research list via the momentum/stage-2 run of our in-house stock scanner on July 17, 2026; the 22 hits and all metrics carry the July 10, 2026 data cut.
Scanner metrics (P/E, P/B, Piotroski, Altman-Z, fundamental grade) use trailing twelve-month figures; the 2024 margin slump has rolled out of them, and a future project accident is naturally not yet in them.
Price and valuation figures dated July 10, 2026 (about $487 per share, about $7.8 billion market value); analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at MYRG since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 177.00 $ to 501.10 $ · Last price: 276.80 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Engineering & Construction
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| MYR Group Inc MYRG | 4.5 | 30.3 | 14.1 | 12.5 | 6.4 | 8.8 | 56.3 |
| Quanta Services Inc PWR | 97.5 | 80.3 | 33.7 | 15.5 | 4.2 | 19.8 | 64.1 |
| Comfort Systems USA Inc FIX | 60.0 | 41.7 | 29.0 | 25.7 | 7.9 | 29.5 | 106.7 |
| EMCOR Group Inc EME | 32.5 | 22.3 | 15.2 | 19.4 | 8.7 | 16.6 | 19.7 |
| Jacobs Solutions Inc. J | 16.7 | 43.2 | 21.8 | 22.1 | -0.9 | 4.6 | -1.1 |
| MasTec Inc MTZ | 16.7 | 42.4 | 16.9 | 12.9 | 3.7 | 16.2 | 7.5 |
| Api Group Corp APG | 16.5 | – | 20.3 | 31.4 | 7.3 | 12.7 | 6.7 |
| Sterling Construction Company Inc STRL | 16.2 | 41.9 | 20.2 | 23.8 | 17.2 | 17.7 | 51.1 |
| Topbuild Corp BLD | 12.2 | 24.0 | 12.9 | 29.0 | 12.2 | 1.5 | 2.7 |
| Median of companies shown | 16.7 | 41.8 | 20.2 | 22.1 | 7.3 | 16.2 | 19.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,142 | 39 | 21 | 1.23 | 54 | 263 | 574 |
| 2017 | 1,403 | 30 | 21 | 1.28 | -9 | 287 | 604 |
| 2018 | 1,531 | 50 | 31 | 1.87 | 85 | 323 | 749 |
| 2019 | 2,071 | 57 | 38 | 2.26 | 65 | 364 | 1,008 |
| 2020 | 2,247 | 87 | 59 | 3.48 | 175 | 429 | 996 |
| 2021 | 2,498 | 119 | 85 | 4.95 | 137 | 519 | 1,121 |
| 2022 | 3,009 | 115 | 83 | 4.91 | 167 | 560 | 1,399 |
| 2023 | 3,644 | 129 | 91 | 5.40 | 71 | 651 | 1,579 |
| 2024 | 3,362 | 54 | 30 | 1.83 | 87 | 600 | 1,574 |
| 2025 | 3,658 | 163 | 118 | 7.53 | 327 | 660 | 1,644 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.99 | -31.00 | 830 | -17.40 | 1.90 | 21 | 9 |
| 2025: Q1 | 1.45 | 29.10 | 834 | 2.20 | 2.80 | 83 | 70 |
| 2025: Q2 | 1.70 | – | 900 | 8.60 | 2.90 | 33 | 12 |
| 2025: Q3 | 2.05 | 214.70 | 950 | 7.00 | 3.40 | 96 | 65 |
| 2025: Q4 | 2.33 | 136.80 | 974 | 17.30 | 3.80 | 115 | 85 |
| 2026: Q1 | 2.99 | 105.70 | 1,000 | 20.00 | 4.70 | 85 | 69 |
| 2026: Q2 | 3.17 | 86.50 | 1,082 | 20.10 | 4.60 | 3 | -26 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 24 of our scanner strategies — each hit links to the scanner.
Growth
- Ben Bennett: Power Screen
- Dan Zanger: Leader
- Joshua
- Patrick Walker: 30% EPS Growth
- Patrick Walker: 40, 40 Screen
- Quality Growth
- Ted Zhang: Super Stock Universe
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
- 21-EMA Trend
- Above 21-EMA Pullback
- Above the 50- & 200-SMA
- Gary Antonacci: Dual Momentum (Stock Adaptation)
- High ADR (≥5%)
- Mark Minervini: Trend Criteria — 1 Month
- Near 52-Week High
- RS Leader (≥90)
- RS New Highs
- Richard Moglen: Top Performers 3/6 Month
- Stage 2 Leader
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 12.19 | 11.72 – 12.86 | 4,389 | 61.8% | 6 |
| 12/31/2027 | 14.57 | 13.39 – 16.12 | 5,067 | 19.6% | 6 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 9.6% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $193.4M |
|---|---|
| Market cap | $4.45B |
| Free cash flow in year ten | $484.5M |
| Terminal value as a share of market value | 57.4% |
For comparison: over the past five years free cash flow grew by 12.2% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 17.07.2026 gegen die Geschäftsberichte (10-K) für 2025 (eingereicht 25.02.2026) und 2024 (26.02.2025) sowie die vier jüngsten Quartalsberichte (10-Q, zum 31.03.2026, 30.09.2025, 30.06.2025 und 31.03.2025): In den ausgewerteten SEC-Filings von MYR Group findet sich kein wesentlicher eigener KI-Bezug. Die einzige wiederkehrende Erwähnung von „artificial intelligence“ ist ein Nachfrage-Argument im Ausblick — der Stromhunger neuer Technologien („including the emergence and adoption of artificial intelligence technologies“) werde erhebliche Investitionen der Kunden (Stromversorger, Rechenzentrums-Bauherren) erfordern (wortgleich in allen vier 10-Q und im 10-K 2024/2025). Dazu kommt eine generische Cybersecurity-Floskel im Risikoteil des 10-K 2025 („…including the use of new and emerging technologies such as artificial intelligence…“). Weder KI-Umsatzquelle noch dokumentierter operativer KI-Einsatz noch konkretes KI-Geschäftsrisiko fürs eigene Modell: MYR Group baut und wartet Stromnetz- und Elektroinfrastruktur und profitiert allenfalls indirekt vom KI-getriebenen Strombedarf seiner Kunden — nach dem Kriterienkatalog bleibt es bei „neutral“ (Endmarkt-Exponierung allein begründet kein „verkauft“).
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-04-29 · 10-Q 2025-10-29 · 10-Q 2025-07-30 · 10-Q 2025-04-30 · 10-K 2026-02-25 · 10-K 2025-02-26
Rated on July 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 6.7%
- More than 10% revenue growth is expected for the coming year 9.8%
- Share count grows by less than 3% a year -2.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 15.1%
- Gross margin at 40% or higher and without meaningful erosion 11.5%
- Goodwill from acquisitions does not grow faster than revenue 7.0%
- Net debt below twice EBITDA 47 m net cash
- Operating cash flow covers the profits of the last three years 245 m
- Return on capital at 15% or higher, or up versus two years ago 19.2%
- Insiders hold at least 10% or are net buyers 1.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
9/10 Quality stockThe AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 13.8%
- Exp. sales growth 3Y > 5% 17.7%
- EBIT growth 10Y > 5% 17.3%
- Exp. EBIT growth 3Y > 5% 39.1%
- Net debt < 4x EBIT -0.3x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 58.1%
- Return on equity > 15% 25.1%
- ROCE > 15% 19.2%
- Expected return > 10% 46.4%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 4, 2026 | Richard Aurelie Pascale | Director | Other | 758 | – | – |
The company
About the Company
MYR Group Inc. erbringt über seine Tochtergesellschaften Elektroinstallationsdienste in den USA und Kanada.
- Employees
- 9,000
- Headquarters
- Thornton, CO
- Address
- 12121 Grant Street, 80241 Thornton, United States
- Phone
- 303 286 8000
- Website
- myrgroup.com
- IPO Date
- 08/13/2008
- ISIN
- US55405W1045
Management
| Name | Title | Birth Year |
|---|---|---|
| Richard S. Swartz Jr. | President, CEO & Director | 1964 |
| Kelly Michelle Huntington C.F.A. | Senior VP & CFO | 1975 |
| William F. Fry J.D. | Senior VP, Chief Legal Officer & Secretary | 1975 |
| Don A. Egan | Senior VP and COO of Commercial & Industrial | 1971 |
| Brian K. Stern | Senior VP & COO of Transmission & Distribution | 1969 |
| Marisa A. Owens | Vice President of Accounting | – |
| Jennifer L. Harper | VP of Investor Relations & Treasurer | – |
| A. James Barrett | Vice President of Human Resources | – |
| Joesph P. Anderson | VP & General Counsel | – |
| R. Clay Thomson | President of High Country Line Construction, Inc | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/10/2026 MYR GROUP INC. (MYRG): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Financial Statements and Exhibits SEC ↗
- 08/07/2026 MYR GROUP INC. (MYRG): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 07/29/2026 MYR GROUP INC. (MYRG): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.