Latest Ratios: P/E Ratio 40.5x · EV/EBITDA 20.5x · ROE 18.8%. (1989–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.7B | $3.4B | $2.5B | $2.4B | $1.6B | $1.9B | $1.0B | $544M | $467M | $589M | $658M |
| Enterprise Value | $4.7B | $3.4B | $2.6B | $2.5B | $1.6B | $1.8B | $1.0B | $722M | $552M | $667M | $698M |
| P/E Ratio → | 40.47 | 29.02 | 81.30 | 26.78 | 18.75 | 22.33 | 17.27 | 14.42 | 15.06 | 27.91 | 30.63 |
| P/S Ratio | 1.30 | 0.94 | 0.73 | 0.67 | 0.52 | 0.76 | 0.45 | 0.26 | 0.31 | 0.42 | 0.58 |
| P/B Ratio | 7.26 | 5.20 | 4.10 | 3.74 | 2.79 | 3.65 | 2.36 | 1.49 | 1.44 | 2.05 | 2.50 |
| P/FCF | 20.44 | 14.80 | 219.97 | — | 17.29 | 22.35 | 7.76 | 76.97 | 13.71 | — | 22.59 |
| P/OCF | 14.53 | 10.52 | 28.22 | 34.29 | 9.33 | 13.82 | 5.79 | 8.39 | 5.51 | — | 12.07 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.93 | 0.77 | 0.68 | 0.53 | 0.74 | 0.46 | 0.35 | 0.36 | 0.48 | 0.61 |
| EV / EBITDA | 20.51 | 14.80 | 21.59 | 13.20 | 9.17 | 11.17 | 7.85 | 7.10 | 6.12 | 9.79 | 8.96 |
| EV / EBIT | 28.90 | 20.31 | 48.57 | 19.11 | 13.47 | 15.58 | 12.15 | 12.74 | 11.88 | 24.47 | 18.66 |
| EV / FCF | — | 14.60 | 230.39 | — | 17.55 | 21.69 | 7.98 | 102.14 | 16.20 | — | 23.97 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.5% | 11.5% | 8.6% | 10.0% | 11.4% | 13.0% | 12.3% | 10.3% | 10.9% | 8.9% | 11.8% |
| Operating Margin | 4.4% | 4.4% | 1.6% | 3.5% | 3.8% | 4.7% | 3.9% | 2.8% | 3.3% | 2.1% | 3.4% |
| Net Profit Margin | 3.2% | 3.2% | 0.9% | 2.5% | 2.8% | 3.4% | 2.6% | 1.8% | 2.0% | 1.5% | 1.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.8% | 18.8% | 4.8% | 15.0% | 15.5% | 17.9% | 14.8% | 10.9% | 10.2% | 7.7% | 7.2% |
| ROA | 7.4% | 7.4% | 1.9% | 6.1% | 6.6% | 8.0% | 5.9% | 4.3% | 4.6% | 3.6% | 3.9% |
| ROIC | 18.3% | 18.3% | 5.7% | 15.1% | 16.5% | 19.3% | 13.0% | 9.0% | 9.8% | 6.6% | 9.8% |
| ROCE | 19.4% | 19.4% | 6.5% | 16.5% | 17.0% | 20.2% | 14.9% | 10.6% | 11.4% | 7.8% | 11.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.20 | 0.11 | 0.13 | 0.05 | 0.12 | 0.52 | 0.28 | 0.29 | 0.24 |
| Debt / EBITDA | 0.45 | 0.45 | 1.01 | 0.39 | 0.43 | 0.15 | 0.39 | 1.87 | 1.02 | 1.21 | 0.82 |
| Net Debt / Equity | — | -0.07 | 0.19 | 0.07 | 0.04 | -0.11 | 0.07 | 0.49 | 0.26 | 0.27 | 0.15 |
| Net Debt / EBITDA | -0.20 | -0.20 | 0.98 | 0.26 | 0.14 | -0.34 | 0.22 | 1.75 | 0.94 | 1.13 | 0.52 |
| Debt / FCF | — | -0.20 | 10.43 | — | 0.26 | -0.67 | 0.22 | 25.17 | 2.49 | — | 1.38 |
| Interest Coverage | 29.56 | 29.56 | 8.13 | 26.31 | 33.05 | 65.65 | 18.84 | 9.10 | 12.73 | 10.47 | 28.80 |
Net cash position: cash ($150M) exceeds total debt ($104M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.33 | 1.33 | 1.35 | 1.37 | 1.33 | 1.50 | 1.44 | 1.61 | 1.68 | 2.01 | 1.57 |
| Quick Ratio | 1.33 | 1.33 | 1.35 | 1.37 | 1.33 | 1.50 | 1.44 | 1.61 | 1.68 | 2.01 | 1.57 |
| Cash Ratio | 0.19 | 0.19 | 0.00 | 0.03 | 0.08 | 0.16 | 0.05 | 0.03 | 0.03 | 0.03 | 0.10 |
| Asset Turnover | — | 2.22 | 2.14 | 2.31 | 2.15 | 2.23 | 2.26 | 2.05 | 2.04 | 2.32 | 1.99 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 85.38 | 105.16 | 95.64 | 96.02 | 90.69 | 95.03 | 108.20 | 109.48 | 95.16 | 99.31 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.5% | 3.4% | 1.2% | 3.7% | 5.3% | 4.5% | 5.8% | 6.9% | 6.6% | 3.6% | 3.3% |
| FCF Yield | 4.9% | 6.8% | 0.5% | — | 5.8% | 4.5% | 12.9% | 1.3% | 7.3% | — | 4.4% |
| Buyback Yield | 1.6% | 2.2% | 3.1% | 0.1% | 2.4% | 0.2% | 0.1% | 0.1% | 0.2% | 0.5% | 15.4% |
| Total Shareholder Yield | 1.6% | 2.2% | 3.1% | 0.1% | 2.4% | 0.2% | 0.1% | 0.1% | 0.2% | 0.5% | 15.4% |
| Shares Outstanding | — | $16M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $16M | $17M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MYRG stock.
MYR Group Inc.'s current P/E ratio is 40.5x. The historical average is 23.6x. This places it at the 94th percentile of its historical range.
MYR Group Inc.'s current EV/EBITDA is 20.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.9x.
MYR Group Inc.'s return on equity (ROE) is 18.8%. The historical average is 14.3%.
Based on historical data, MYR Group Inc. is trading at a P/E of 40.5x. This is at the 94th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
MYR Group Inc. has 11.5% gross margin and 4.4% operating margin.
MYR Group Inc.'s Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Thin gross margin vulnerability
Metrics are mathematically derived from official filings.
Margin Expansion Signals Mix Shift
Gross margin improved to 13.2% in Q2 2026 from 11.4% a year earlier, as reported in the income statement, suggesting a favorable shift toward higher-margin transmission work and improved project execution.
The sequential and year-over-year expansion in gross margin from 11.3% in Q4 2025 to 13.2% in Q2 2026, alongside operating margin rising to 6.3% from 4.4%, indicates that the company is capturing better project economics, likely driven by a richer mix of high-voltage transmission work. However, the absolute level of gross margin remains thin at 13.2%, leaving profitability sensitive to labor cost inflation or execution missteps. Net margin of 4.6% in Q2 2026, up from 2.9% in Q2 2025, demonstrates that operating leverage is flowing through to the bottom line, but the sustainability of this margin trajectory depends on continued favorable mix and disciplined cost control.
ROIC Recovery Reflects Turnaround
ROIC climbed to 7.9% in Q2 2026 from a negative -2.1% in Q2 2024, as per the ratio data, indicating a strong recovery in capital efficiency after the 2024 loss.
The improvement in ROIC from -2.1% in Q2 2024 to 7.9% in Q2 2026 is driven by both margin recovery and more efficient use of invested capital, with asset turnover improving from 0.52 to 0.65 over the same period. This suggests that the company is not only earning higher margins but also generating more revenue per dollar of assets, a sign of operational discipline. However, ROIC remains below the levels of peers like Primoris (13.6%) and Quanta (9.4%), indicating that MYRG still has room to improve capital efficiency, possibly by increasing asset utilization or further optimizing working capital.
Working Capital Swings Dominate Cash Flow
DSO fell to 65 days in Q2 2026 from 108 days in Q4 2024, as reported in the ratio data, yet cash conversion cycle remains volatile due to project timing.
The sharp reduction in DSO from 108 days in Q4 2024 to 65 days in Q2 2026 indicates improved collections and billing efficiency, which is a positive sign for cash generation. However, the cash conversion cycle of 33 days in Q2 2026, while improved from prior periods, is still subject to significant swings due to the lumpy nature of large projects. The negative FCF margin of -2.4% in Q2 2026, despite record revenue, highlights that working capital swings can overwhelm operational profitability in any given quarter. Investors should monitor DSO and unbilled receivables closely, as a rise in costs in excess of billings could signal revenue recognized ahead of cash collection, potentially masking execution issues.
Deleveraging Strengthens Balance Sheet
Debt-to-equity fell to 0.09 in Q2 2026 from 0.24 a year earlier, as per the balance sheet, with interest coverage of 33.1x, indicating minimal financial risk.
The reduction in leverage, with total debt down to $67.1M from $133.9M a year earlier, reflects a conservative capital structure that provides ample headroom for cyclical downturns. Interest coverage of 33.1x in Q2 2026, up from 20.6x in Q2 2025, suggests that debt service is highly comfortable, and the company has significant capacity to take on additional debt if needed for strategic initiatives. However, the low leverage may also indicate a missed opportunity to scale through M&A, which could be a consideration for growth-oriented investors.
Liquidity Position Strengthens
Current ratio improved to 1.40 in Q2 2026 from 1.36 in Q2 2024, as reported in the ratio data, with cash of $137.9M providing a buffer against working capital swings.
The current ratio of 1.40, while not exceptionally high, is adequate for a contractor with significant working capital needs, and the quick ratio of 1.39 indicates that inventory is not a major liquidity concern. The cash balance of $137.9M, up from $3.5M in Q4 2024, provides a substantial cushion to absorb the volatility in cash flows inherent in project-based work. However, the negative FCF margin in Q2 2026 suggests that liquidity could be strained if working capital outflows persist, though the current cash position appears sufficient to weather such periods.
Misapplied P/E Overstates Cyclicality
The trailing P/E of 41.3x, as per the valuation data, may mislead investors by treating MYRG as a cyclical construction firm, obscuring the annuity-like nature of its T&D work.
The market often values MYRG on a trailing P/E basis, which at 41.3x appears expensive relative to peers like Primoris (15.8x) and Quanta (97.4x). However, this multiple is distorted by the 2024 loss and the subsequent earnings recovery, making the forward P/E of 27.0x a more relevant metric. More importantly, the P/E fails to capture the stability of the T&D segment, which is driven by regulatory mandates and grid reliability needs, not GDP cycles. A better valuation approach would be to use EV/EBITDA (20.9x) or a sum-of-the-parts analysis that separates the recurring T&D business from the cyclical C&I segment, as the market may be underpricing the durability of MYRG's earnings.