Feed / MYRG

MYR Group Inc.

MYRG

Industrials · 284.20 -1.1% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

MYR Group Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 25 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

What changed
  • Revenue increased 20.0% versus the comparable filing period.
Company-1.1% todayVolume comparison unavailable
Market group0 of 25 activeIndustrial Infrastructure · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
  • Monitor remaining borrowing availability under the Facility after giving effect to the Valley acquisition.

Invalidation: The isolated read changes if MYRG's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Engineering & Construction

The latest filing evidence is available. 0 of 25 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

Evidence that supports
  • Revenue increased 20.0% versus the comparable filing period.
  • Operating margin improved 2.4 percentage points.
  • Net income increased 100.8% versus the comparable filing period.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Monitor remaining borrowing availability under the Facility after giving effect to the Valley acquisition.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements126
Verified relationships2
Evidence supporting the case
  • Latest annual revenue changed +8.8% year over year.
  • Operating margin changed +3.0 percentage points in the latest annual period.
  • Net margin changed +2.3 percentage points in the latest annual period.
  • Demand and volume has repeated favorable evidence across 5 filings.
  • Data center and AI demand has repeated favorable evidence across 4 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 74% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 180% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

284.20
6m+5.7%12m+62.8%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.5B+11.2%$4.95+1.6%
2022-12-31$3.0B+20.4%$4.91-1.1%
2023-12-31$3.6B+21.1%$5.40-0.8%
2024-12-31$3.4B-7.7%$1.83-1.8%
2025-12-31$3.7B+8.8%$7.53-4.8%

What management says matters

Persistent and emerging business drivers

Demand and volumepositive · 5 filings
We believe the increasing demand for electricity associated with additional power requirements, driven by increased electrification associated with new technologies, including the emergence and adoption of artificial intelligence technologies as well as incre…
10-Q · Jul 29, 2026
Credit and interest ratesmixed · 4 filings
As a result of these exclusions from EBITDA, any measure that excludes interest expense net of interest income, depreciation and amortization and income taxes has material limitations as compared to net income.
10-Q · Jul 29, 2026
Data center and AI demandpositive · 4 filings
We believe the increasing demand for electricity associated with additional power requirements, driven by increased electrification associated with new technologies, including the emergence and adoption of artificial intelligence technologies as well as incre…
10-Q · Jul 29, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.2× · EV/sales 1.2×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

284.20-1.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for MYRG. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-04-29 against the comparable filing from 2025-04-30.

constructive
OperationsconstructiveEvidence score +4
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 20.0% versus the comparable filing period.
  • Operating margin improved 2.4 percentage points.
  • Net income increased 100.8% versus the comparable filing period.

What weakened

No thresholded deterioration was identified.

Filing receipts

The unfavorable change in operating assets and liabilities was primarily due to the net unfavorable year-over-year changes in various working capital accounts that relate primarily to construction activities (accounts receivable, contract assets, accounts payable and contract liabilities) of $26.0 million.

The $1.4 million year-over-year increase in cash provided by operating activities was primarily due to an increase of $23.5 million in net income offset by unfavorable net changes in operating assets and liabilities of $25.1 million.

The increase in gross margin was primarily due to a larger portion of our projects progressing at higher contractual margins, some of which are nearing completion, during the three months ended March 31, 2026.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind MYRG

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

JPMJPMorgan Chase & Co.lenderApr 29, 2026

Debt Instruments Credit Agreement On May 31, 2023, the Company entered into a five-year third amended and restated credit agreement (the “Credit Agreement”) with a syndicate of banks led by JPMorgan Chase Bank, N.A.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

MYRG is currently a Follower in the organic co-movement group Industrial Infrastructure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.