Revenue growth accelerated to 20.0% in 2026Q1, while gross margins recovered to 13.3% from the 4.9% trough observed in 2024Q2.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'99 | Dec'98 | Dec'97 | Dec'96 | Dec'95 | Dec'94 | Dec'93 | Dec'92 | Dec'91 | Dec'90 | Dec'89 |
|---|
| Sales/Revenue | 3.82B | 3.66B | 3.36B | 3.64B | 3.01B | 2.5B | 2.25B | 2.07B | 1.53B | 1.4B | 1.14B | 1.06B | 943.97M | 902.73M | 998.96M | 780.36M | 597.08M | 631.17M | 616.11M | 610.31M | 477.28M | 459.3M | 431.3M | 310.6M | 267M | 86.8M | 108.5M | 110.3M | 96.1M | 65.8M | 59.8M |
| Revenue Growth % | 13.14% | 8.79% | -7.73% | 21.12% | 20.42% | 11.16% | 8.51% | 35.27% | 9.11% | 22.83% | 7.61% | 12.47% | 4.57% | -9.63% | 28.01% | 30.7% | -5.4% | 2.44% | 0.95% | 27.87% | 3.91% | 6.49% | 38.86% | 16.33% | 207.6% | -20% | -1.63% | 14.78% | 46.05% | 10.03% | - |
| Cost of Goods Sold | 3.37B | 3.24B | 3.07B | 3.28B | 2.66B | 2.17B | 1.97B | 1.86B | 1.36B | 1.28B | 1.01B | 939.34M | 811.55M | 777.85M | 880.31M | 694.79M | 526.36M | 555.26M | 525.92M | 540.87M | 421.9M | 409.5M | 386M | 272.8M | 231.2M | 71.3M | 95M | 93.8M | 81M | 54.7M | 49.7M |
| COGS % of Revenue | - | 88.55% | 91.37% | 90% | 88.57% | 86.99% | 87.73% | 89.66% | 89.09% | 91.09% | 88.21% | 88.48% | 85.97% | 86.17% | 88.12% | 89.03% | 88.16% | 87.97% | 85.36% | 88.62% | 88.4% | 89.16% | 89.5% | 87.83% | 86.59% | 82.14% | 87.56% | 85.04% | 84.29% | 83.13% | 83.11% |
| Gross Profit | 456.48M | 418.97M | 290.32M | 364.4M | 343.96M | 324.98M | 275.85M | 214.16M | 167.06M | 125M | 134.72M | 122.34M | 132.41M | 124.88M | 118.65M | 85.57M | 70.72M | 75.91M | 90.18M | 69.45M | 55.38M | 49.8M | 45.3M | 37.8M | 35.8M | 15.5M | 13.5M | 16.5M | 15.1M | 11.1M | 10.1M |
| Gross Margin % | 11.94% | 11.45% | 8.63% | 10% | 11.43% | 13.01% | 12.27% | 10.34% | 10.91% | 8.91% | 11.79% | 11.52% | 14.03% | 13.83% | 11.88% | 10.96% | 11.84% | 12.03% | 14.64% | 11.38% | 11.6% | 10.84% | 10.5% | 12.17% | 13.41% | 17.86% | 12.44% | 14.96% | 15.71% | 16.87% | 16.89% |
| Gross Profit Growth % | - | 44.31% | -20.33% | 5.94% | 5.84% | 17.81% | 28.81% | 28.19% | 33.64% | -7.21% | 10.12% | -7.61% | 6.04% | 5.25% | 38.67% | 20.99% | -6.83% | -15.83% | 29.86% | 25.4% | 11.21% | 9.93% | 19.84% | 5.59% | 130.97% | 14.81% | -18.18% | 9.27% | 36.04% | 9.9% | - |
| Operating Expenses | 263.26M | 256.36M | 236.24M | 235.3M | 229.06M | 206.42M | 189.31M | 156.98M | 120.58M | 99.11M | 97.31M | 79.76M | 74.15M | 70.15M | 63.91M | 57.11M | 44.22M | 48.38M | 50.96M | 46.35M | 40.38M | 35.5M | 33.8M | 29.7M | 28M | 11.4M | 10.7M | 10.2M | 9.8M | 7.6M | 7.9M |
| OpEx % of Revenue | - | 7.01% | 7.03% | 6.46% | 7.61% | 8.26% | 8.42% | 7.58% | 7.88% | 7.06% | 8.52% | 7.51% | 7.86% | 7.77% | 6.4% | 7.32% | 7.41% | 7.67% | 8.27% | 7.6% | 8.46% | 7.73% | 7.84% | 9.56% | 10.49% | 13.13% | 9.86% | 9.25% | 10.2% | 11.55% | 13.21% |
| Selling, General & Admin | 263.26M | 256.36M | 238.22M | 234.61M | 222.42M | 207.21M | 188.53M | 156.67M | 118.74M | 98.61M | 96.42M | 79.19M | 73.82M | 69.82M | 63.58M | 56.78M | 44.63M | 48.47M | 50.62M | 45.59M | 35.71M | 30.9M | 28.2M | 23.6M | 21.8M | 8.2M | 7.8M | 7.9M | 8.1M | 6.8M | 7M |
| SG&A % of Revenue | - | 7.01% | 7.09% | 6.44% | 7.39% | 8.29% | 8.39% | 7.56% | 7.75% | 7.03% | 8.44% | 7.46% | 7.82% | 7.73% | 6.36% | 7.28% | 7.47% | 7.68% | 8.22% | 7.47% | 7.48% | 6.73% | 6.54% | 7.6% | 8.16% | 9.45% | 7.19% | 7.16% | 8.43% | 10.33% | 11.71% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | -1.99M | 0 | 6.63M | -787K | 773K | 306K | -3.62M | 0 | 885K | 174K | 162K | -27K | -222K | 335K | 0 | 0 | 334K | 769K | 4.67M | 4.6M | 5.6M | 6.1M | 6.2M | 3.2M | 2.9M | 2.3M | 1.7M | 800K | 900K |
| Operating Income | 193.22M | 162.61M | 54.08M | 129.09M | 114.91M | 118.56M | 86.55M | 57.18M | 50.31M | 29.56M | 38.75M | 44.84M | 58.4M | 55.62M | 55.76M | 29.63M | 26.5M | 27.52M | 40.04M | 23.09M | 15M | 14.3M | 11.5M | 8.1M | 7.8M | 4.1M | 2.8M | 6.3M | 5.3M | 3.5M | 2.2M |
| Operating Margin % | 5.05% | 4.45% | 1.61% | 3.54% | 3.82% | 4.75% | 3.85% | 2.76% | 3.29% | 2.11% | 3.39% | 4.22% | 6.19% | 6.16% | 5.58% | 3.8% | 4.44% | 4.36% | 6.5% | 3.78% | 3.14% | 3.11% | 2.67% | 2.61% | 2.92% | 4.72% | 2.58% | 5.71% | 5.52% | 5.32% | 3.68% |
| Operating Income Growth % | - | 200.67% | -58.11% | 12.35% | -3.08% | 36.99% | 51.36% | 13.65% | 70.21% | -23.73% | -13.57% | -23.22% | 5.01% | -0.26% | 88.2% | 11.79% | -3.7% | -31.26% | 73.39% | 53.95% | 4.9% | 24.35% | 41.98% | 3.85% | 90.24% | 46.43% | -55.56% | 18.87% | 51.43% | 59.09% | - |
| EBITDA | 261.3M | 229.12M | 119.27M | 188.23M | 173.08M | 164.76M | 133M | 101.69M | 90.22M | 68.13M | 77.88M | 82.87M | 91.83M | 84.81M | 80.92M | 49.14M | 42.8M | 41.05M | 51.19M | 33.76M | 10.33M | 9.7M | 5.9M | 2M | 1.6M | 900K | -100K | 4M | 3.6M | 2.7M | 1.3M |
| EBITDA Margin % | 6.83% | 6.26% | 3.55% | 5.17% | 5.75% | 6.6% | 5.92% | 4.91% | 5.89% | 4.86% | 6.82% | 7.81% | 9.73% | 9.4% | 8.1% | 6.3% | 7.17% | 6.5% | 8.31% | 5.53% | 2.16% | 2.11% | 1.37% | 0.64% | 0.6% | 1.04% | -0.09% | 3.63% | 3.75% | 4.1% | 2.17% |
| EBITDA Growth % | 103.27% | 92.1% | -36.64% | 8.76% | 5.04% | 23.89% | 30.78% | 12.71% | 32.42% | -12.51% | -6.03% | -9.75% | 8.27% | 4.81% | 64.67% | 14.83% | 4.26% | -19.81% | 51.62% | 226.75% | 6.52% | 64.41% | 195% | 25% | 77.78% | 1000% | -102.5% | 11.11% | 33.33% | 107.69% | - |
| D&A (Non-Cash Add-back) | 68.08M | 66.51M | 65.19M | 59.14M | 58.17M | 46.2M | 46.45M | 44.52M | 39.91M | 38.58M | 39.12M | 38.03M | 33.42M | 29.2M | 25.16M | 19.51M | 16.29M | 13.53M | 11.15M | 10.67M | -4.67M | -4.6M | -5.6M | -6.1M | -6.2M | -3.2M | -2.9M | -2.3M | -1.7M | -800K | -900K |
| EBIT | 193.22M | 162.61M | 53.02M | 129.94M | 117.77M | 118.11M | 85.95M | 56.67M | 46.48M | 27.24M | 37.41M | 42.78M | 58.67M | 54.72M | 55.54M | 29.6M | 26.42M | 27.53M | 40.83M | 23.09M | 15M | 14.3M | 11.5M | 8.1M | 7.8M | 4.1M | 2.8M | 6.3M | 5.3M | 3.5M | 2.2M |
| Net Interest Income | -3.45M | -4.92M | -6.11M | -4.05M | -3.38M | -1.73M | -4.55M | -6.22M | -3.63M | -2.6M | -1.29M | -716K | -616K | -718K | -850K | -491K | -996K | -634K | -700K | -460K | 0 | -2.2M | 0 | -1.8M | -1.8M | -100K | -400K | -300K | -400K | -200K | -600K |
| Interest Income | 1.44M | 723K | 415K | 888K | 187K | 70K | 9K | 4K | 24K | 4K | 5K | 25K | 106K | 9K | 2K | 53K | 58K | 218K | 1M | 1.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 4.89M | 5.65M | 6.53M | 4.94M | 3.56M | 1.8M | 4.56M | 6.22M | 3.65M | 2.6M | 1.3M | 741K | 722K | 727K | 852K | 544K | 1.05M | 852K | 1.7M | 1.69M | 0 | 2.2M | 0 | 1.8M | 1.8M | 100K | 400K | 300K | 400K | 200K | 600K |
| Other Income/Expense | -680K | -1.33M | -7.59M | -4.09M | -703K | -2.25M | -5.16M | -6.74M | -7.24M | -4.92M | -409K | -542K | -454K | -745K | -1.07M | -572K | -1.14M | -842K | -912K | -26.36M | 220K | -1.4M | -1.5M | -1.7M | -2.1M | -300K | -600K | -500K | -400K | 100K | 1.2M |
| Pretax Income | 192.54M | 161.28M | 46.49M | 125M | 114.2M | 116.31M | 81.39M | 50.44M | 43.07M | 24.64M | 38.34M | 44.3M | 57.95M | 54.87M | 54.69M | 29.06M | 25.36M | 26.68M | 39.13M | -3.27M | 15.22M | 12.9M | 10M | 6.4M | 5.7M | 3.8M | 2.2M | 5.8M | 4.9M | 3.6M | 3.4M |
| Pretax Margin % | 5.03% | 4.41% | 1.38% | 3.43% | 3.8% | 4.66% | 3.62% | 2.44% | 2.81% | 1.76% | 3.36% | 4.17% | 6.14% | 6.08% | 5.47% | 3.72% | 4.25% | 4.23% | 6.35% | -0.54% | 3.19% | 2.81% | 2.32% | 2.06% | 2.13% | 4.38% | 2.03% | 5.26% | 5.1% | 5.47% | 5.69% |
| Income Tax | 50.63M | 42.87M | 16.23M | 34.01M | 30.82M | 31.3M | 22.63M | 14.23M | 11.77M | 3.49M | 16.91M | 17M | 21.41M | 20.11M | 20.43M | 10.76M | 9.24M | 9.45M | 15.49M | -64K | 6.09M | 5M | 4M | 2.4M | 2.3M | 1.5M | 600K | 2.2M | 500K | 100K | 200K |
| Effective Tax Rate % | 26.3% | 26.58% | 34.91% | 27.21% | 26.99% | 26.91% | 27.8% | 28.21% | 27.34% | 14.15% | 44.11% | 38.37% | 36.94% | 36.65% | 37.35% | 37.03% | 36.44% | 35.4% | 39.6% | 1.96% | 40% | 38.76% | 40% | 37.5% | 40.35% | 39.47% | 27.27% | 37.93% | 10.2% | 2.78% | 5.88% |
| Net Income | 141.91M | 118.42M | 30.26M | 90.99M | 83.38M | 85.01M | 58.76M | 37.69M | 31.09M | 21.15M | 21.43M | 27.3M | 36.54M | 34.76M | 34.26M | 18.3M | 16.12M | 17.23M | 23.63M | -3.2M | 8.56M | 7.9M | 6.6M | 3.5M | 3.4M | 2.1M | 1.6M | 3.6M | 4.2M | 3.5M | 2.7M |
| Net Margin % | 3.71% | 3.24% | 0.9% | 2.5% | 2.77% | 3.4% | 2.61% | 1.82% | 2.03% | 1.51% | 1.88% | 2.57% | 3.87% | 3.85% | 3.43% | 2.34% | 2.7% | 2.73% | 3.84% | -0.52% | 1.79% | 1.72% | 1.53% | 1.13% | 1.27% | 2.42% | 1.47% | 3.26% | 4.37% | 5.32% | 4.52% |
| Net Income Growth % | 309.76% | 291.29% | -66.74% | 9.13% | -1.92% | 44.68% | 55.9% | 21.24% | 46.96% | -1.29% | -21.5% | -25.29% | 5.14% | 1.45% | 87.24% | 13.5% | -6.46% | -27.07% | 838.07% | -137.41% | 8.35% | 19.7% | 88.57% | 2.94% | 61.9% | 31.25% | -55.56% | -14.29% | 20% | 29.63% | - |
| Net Income (Continuing) | 141.91M | 118.42M | 30.26M | 90.99M | 83.38M | 85.01M | 58.76M | 36.21M | 31.29M | 21.15M | 21.43M | 27.3M | 36.54M | 34.76M | 34.26M | 18.3M | 16.12M | 17.23M | 23.63M | -3.2M | 9.13M | 7.9M | 6M | 4M | 3.4M | 2.3M | 1.6M | 3.6M | 4.4M | 3.5M | 3.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 4K | 4K | 1.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 9.05 | 7.53 | 1.83 | 5.40 | 4.91 | 4.95 | 3.48 | 2.26 | 1.87 | 1.28 | 1.23 | 1.30 | 1.69 | 1.61 | 1.60 | 0.87 | 0.78 | 0.83 | 1.14 | -0.19 | 0.41 | 0.38 | 0.32 | 0.17 | 0.16 | 0.10 | 0.08 | 0.17 | 0.20 | 0.17 | 0.13 |
| EPS Growth % | 316.06% | 311.48% | -66.11% | 9.98% | -0.81% | 42.24% | 53.98% | 20.86% | 46.09% | 4.06% | -5.38% | -23.08% | 4.97% | 0.63% | 83.91% | 11.54% | -6.02% | -27.19% | 700% | -146.34% | 7.89% | 18.75% | 88.24% | 6.25% | 60% | 29.53% | -54.59% | -15% | 17.65% | 30.77% | - |
| EPS (Basic) | - | 7.57 | 1.84 | 5.45 | 4.97 | 5.05 | 3.52 | 2.27 | 1.89 | 1.30 | 1.25 | 1.33 | 1.73 | 1.65 | 1.67 | 0.90 | 0.81 | 0.87 | 1.20 | -0.19 | 0.43 | 0.40 | 0.33 | 0.18 | 0.17 | 0.11 | 0.08 | 0.18 | 0.21 | 0.18 | 0.14 |
| Diluted Shares Outstanding | 15.68M | 15.73M | 16.53M | 16.84M | 16.98M | 17.16M | 16.89M | 16.7M | 16.59M | 16.5M | 17.46M | 21.04M | 21.47M | 21.43M | 21.17M | 20.99M | 20.78M | 20.7M | 20.71M | 16.54M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M | 20.72M |
| Basic Shares Outstanding | 15.54M | 15.64M | 16.47M | 16.71M | 16.76M | 16.84M | 16.68M | 16.59M | 16.44M | 16.27M | 17.11M | 20.58M | 20.92M | 20.82M | 20.39M | 20.15M | 19.88M | 19.75M | 19.71M | 16.54M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M | 19.71M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 10.43% | 10.13% | 10.61% | 17.14% | 17.65% | 23.81% | 31.25% | 13.89% | 9.52% | 8.57% | 3.7% |
Skilled labor supply constraints
As reported in recent financial filings, MYRG achieved a 20.0% year-over-year revenue growth in 2026Q1, signaling a significant acceleration from the contraction observed in 2024, likely driven by the sustained demand for high-voltage transmission infrastructure and grid modernization projects across the company's core North American markets.
The recent revenue trajectory suggests that the firm has successfully transitioned from a period of project-related volatility to a more consistent growth phase. Investors should monitor whether this expansion is sustainable or if it remains sensitive to the timing of large-scale utility capital expenditure cycles.
Based on the provided income statement data, MYRG's gross margin reached 13.3% in 2026Q1, representing a notable improvement from the 4.9% trough in 2024Q2, though the company continues to operate within a structurally thin margin environment typical of the competitive engineering and construction industry.
The improvement in gross margins appears to indicate better project selection or improved operational efficiency in the field. However, given the reliance on skilled labor, any further inflationary pressure on wages may quickly erode these gains, necessitating a close watch on the company's ability to pass through costs.
According to the latest quarterly results, MYRG's operating income scaled to $63.8 million in 2026Q1, demonstrating that the company is successfully leveraging its fixed cost base as revenue growth outpaces the incremental increases in SG&A expenses observed over the trailing ten-quarter period.
This operating leverage suggests that the firm is effectively managing its overhead while scaling its project volume. If this trend persists, it may imply that the company is reaching a more efficient operational scale, though investors should remain cautious of potential SG&A creep as the business expands.
Based on the reported figures, MYRG's net income has shown a consistent recovery, reaching $46.8 million in 2026Q1, with stock-based compensation remaining relatively contained at $3.4 million, which suggests that shareholder dilution is not currently a primary concern for investors evaluating the firm's bottom-line performance.
The quality of earnings appears to be improving as the company moves away from the negative net income territory seen in 2024. The absence of significant non-operating distortions suggests that the reported EPS is a reliable reflection of core operational performance, warranting further investigation into future tax rate stability.
While recent growth is impressive, the historical volatility in margins, specifically the 2024Q2 operating loss, highlights the inherent risks in MYRG's business model, where project execution delays or unforeseen labor cost spikes can rapidly transform a profitable quarter into a period of significant margin compression.
Short-term investors should be wary of the potential for 'costs in excess of billings' to mask underlying project execution issues. The reliance on percentage-of-completion accounting means that any downward revision in project profitability estimates could lead to sudden, negative earnings surprises that the current valuation may not fully reflect.
Quick answers to the most common questions about buying MYRG stock.
For fiscal year 2025, MYR Group Inc. (MYRG) reported total revenue of $3.66B. This represents a 6016.9% increase compared to $59.8M in 1989.
MYR Group Inc. (MYRG) is profitable, generating $118.4M in net income for the fiscal year ending 2025 with a net profit margin of 3.2%.
MYR Group Inc. (MYRG) reported an operating income of $162.6M, resulting in an operating profit margin of 4.4%. This margin reflects the operational efficiency of the business before interest and taxes.
MYR Group Inc. (MYRG) generated $419.0M in gross profit for the year, representing a gross profit margin of 11.5%. This demonstrates the company's core pricing power and production efficiency.