Want to see MYRG full AI Analyst Report?
Top Page
MYR Group
(NASDAQ:MYRG)
Select Model
Select Model
Rating:66Neutral
Price Target:
$302.00
▲(1.98% Upside)
Action:Reiterated
Date:10/29/26
MYRG scores well on financial performance and the latest earnings call outlook (improving profitability, record backlog, and guided growth), but the overall score is held back by weak technical momentum (below key moving averages with negative MACD) and cash-flow variability/working-capital pressure. Valuation is acceptable at ~22.6x earnings but offers no dividend support.
Positive Factors
Record Backlog and Visibility
The record backlog provides substantial contracted work visibility across both segments and supports revenue planning beyond the current quarter. Its 38% year-over-year expansion indicates stronger demand and a growing opportunity set, improving the foundation for sustained growth over the next several periods.
Negative Factors
Variable Cash Generation
Cash generation remains less predictable than accounting earnings, with free cash flow declining materially from the prior period and showing historical variability. Construction-related billing and payment timing can absorb liquidity, potentially limiting internally funded investment and increasing reliance on credit during growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Record Backlog and Visibility
The record backlog provides substantial contracted work visibility across both segments and supports revenue planning beyond the current quarter. Its 38% year-over-year expansion indicates stronger demand and a growing opportunity set, improving the foundation for sustained growth over the next several periods.
Read all positive factors
MYR Group (MYRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.41B
Dividend YieldN/A
Average Volume (3M)262.47K
Price to Earnings (P/E)22.8
Beta (1Y)1.45
Revenue Growth22.78%
EPS Growth99.70%
CountryUS
Employees9,000
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)12.41
Shares Outstanding15,569,250
10 Day Avg. Volume270,133
30 Day Avg. Volume262,466
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 Cap1.10
Enterprise Value/Revenue1.12
Enterprise Value/Gross Profit8.71
Enterprise Value/Ebitda14.18
Forecast
1Y Price Target
$398.00Price Target Upside34.40% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering8
EPS Forecast (FY)12.16
Revenue Forecast (FY)$4.40B
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 makes money primarily by performing contracted electrical infrastructure and electrical contracting work and recognizing revenue as it executes projects. Its core revenue streams are: (1) Transmission & Distribution (T&D): The company ea...
MYR Group Earnings Call Summary
Earnings Call Date:Oct 28, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Mar 03, 2027
Earnings Call Sentiment Positive
The call was strongly positive, highlighted by record revenue, net income, EBITDA, backlog, significant C&I growth, improved margins, favorable acquisition performance, strong liquidity, and supportive market demand. The company also provided substantial growth expectations and described active project and acquisition pipelines. The main challenges were lower operating and free cash flow, project inefficiencies, higher SG&A and acquisition-related amortization, working-capital pressure from customer payment terms and higher interest rates, and the delayed timing of larger T&D projects.Positive Updates
Record Revenue and Earnings
Third quarter 2026 revenues were a record $1.26 billion, up $309 million or 32% year over year. Net income was a record $60 million versus $32 million, diluted EPS was $3.82 versus $2.05, an increase of 86%, and EBITDA was a record $110 million versus $63 million.
Negative Updates
Lower Operating Cash Flow
Third quarter operating cash flow declined to $46 million from $96 million in the prior-year period. Management attributed the decrease primarily to the timing of billings and payments associated with project starts and completions.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Revenue and Earnings
Third quarter 2026 revenues were a record $1.26 billion, up $309 million or 32% year over year. Net income was a record $60 million versus $32 million, diluted EPS was $3.82 versus $2.05, an increase of 86%, and EBITDA was a record $110 million versus $63 million.
Read all positive updates
Company Guidance
Management said it plans to operate in the “higher range of our profile” on C&I margins at 6%-9%, with C&I growth next year of 18%-20% or 22%, later clarified as 18%-22% inclusive of full-year Valley and Comet contributions, and overall company growth of 15%-18%; T&D revenue growth is expected at 10%-13% year over year, with growth “more weighted to kind of starting to pick up in second quarter and more weighted to the back half of the year,” while T&D operating margins are expected in the middle range of 8%-11%. Larger T&D projects may start in the “mid to end part of 2027,” with the primary build-out probably starting in the 2028 timeframe and “a lot more growth in 2028 and beyond”; transmission is expected to continue growing about 10% a year through 2030. CapEx is expected to represent 3% of revenues this year and “probably” be in the low to mid-3% of revenues in 2027, while some C&I projects extend into 2029 and 2030.MYR Group Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.31B | 3.66B | 3.36B | 3.64B | 3.01B | 2.50B |
| Gross Profit | 557.21M | 418.97M | 290.32M | 364.40M | 343.96M | 324.98M |
| EBITDA | 342.31M | 233.44M | 118.21M | 189.08M | 175.94M | 164.31M |
| Net Income | 193.20M | 118.42M | 30.26M | 90.99M | 83.38M | 85.01M |
Balance Sheet | ||||||
| Total Assets | 2.11B | 1.64B | 1.57B | 1.58B | 1.40B | 1.12B |
| Cash, Cash Equivalents and Short-Term Investments | 26.01M | 150.16M | 3.46M | 24.90M | 51.04M | 82.09M |
| Total Debt | 281.11M | 103.51M | 119.99M | 73.61M | 74.55M | 25.50M |
| Total Liabilities | 1.29B | 983.66M | 973.70M | 927.54M | 838.66M | 601.99M |
| Stockholders Equity | 818.99M | 660.42M | 600.36M | 651.20M | 560.20M | 519.10M |
Cash Flow | ||||||
| Free Cash Flow | 137.11M | 232.19M | 11.18M | -13.72M | 90.43M | 84.87M |
| Operating Cash Flow | 248.99M | 326.57M | 87.11M | 71.02M | 167.48M | 137.23M |
| Investing Cash Flow | -430.47M | -86.18M | -67.21M | -79.13M | -185.73M | -49.30M |
| Financing Cash Flow | 131.46M | -94.07M | -39.96M | -18.37M | -9.27M | -28.09M |
MYR Group Technical Analysis
Neutral
296.14
Price Trends
290.19
Negative
344.73
Negative
335.30
Negative
Market Momentum
-7.88
Positive
48.56
Neutral
69.72
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 296.14 is above the 20-day moving average (MA) of 289.05, above the 50-day MA of 290.19, and below the 200-day MA of 335.30, indicating a bearish trend. The MACD of -7.88 indicates Positive momentum. The RSI at 48.56 is Neutral, neither overbought nor oversold. The STOCH value of 69.72 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $30.41B | 19.93 | 38.78% | 0.23% | 22.13% | 39.30% | |
72 Outperform | $95.50B | 56.81 | 17.75% | 0.07% | 37.13% | 63.37% | |
70 Outperform | $5.52B | 21.74 | 38.22% | ― | 30.53% | 53.35% | |
68 Neutral | $14.28B | 28.77 | 13.99% | ― | 23.46% | 86.29% | |
66 Neutral | $4.41B | 22.80 | 26.32% | ― | 22.78% | 99.70% | |
59 Neutral | $4.07B | 29.31 | 8.46% | 0.42% | 5.12% | -42.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
MYRG
MYR Group
283.00
65.30
30.00%
EME
EMCOR Group
689.32
14.99
2.22%
MTZ
MasTec
177.82
-26.34
-12.90%
PRIM
Primoris Services
75.61
-65.47
-46.40%
PWR
Quanta Services
635.18
186.40
41.54%
ECG
Everus Construction Group, Inc.
108.06
17.17
18.89%
MYR Group Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
MYR Group Announces Record Q3 Results and Buyback Plan
Positive
Oct 28, 2026
On October 28, 2026, MYR Group reported record third-quarter 2026 results, with revenues rising to $1.26 billion, net income doubling to $60.0 million and EBITDA reaching $110.0 million, driven by strong performance across both TD and CI segments ...
Business Operations and StrategyPrivate Placements and Financing
MYR Group Expands Credit Facility and Liquidity Resources
Positive
Sep 10, 2026
On September 8, 2026, MYR Group Inc. entered into a five-year Fourth Amended and Restated Credit Agreement with a bank syndicate led by JPMorgan Chase Bank, Bank of America and Wells Fargo. The deal provides a $690 million revolving credit facilit...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
MYR Group Highlights Growth and Strategic Positioning
Positive
Aug 7, 2026
On August 7, 2026, MYR Group Inc. published updated investor presentation materials outlining its position as a leading electrical construction contractor with extensive TD and CI operations across the U.S. and Canada. The materials highlight the ...
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.