# MYR Group Inc. (MYRG)

> Source: Nexqual · https://nexqual.com/MYRG · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, MYR Group Inc. (MYRG), nexqual.com/MYRG" · informational, not investment advice.

**Price:** USD 254.97 (-7.35% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 275.21 · day 252.03–267.77 · 52w 199.13–503.57 · market cap $3.97B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.01B, net income $165M (4.1% margin), free cash flow $193M (SEC filings).
- Valuation: P/E 24.0x (avg 45.7x at the last 3 fiscal year-ends), EV/EBITDA 13.0x, net cash $129M.
- 1 of 80 tracked superinvestors hold MYRG (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $10.5M; 4 not under a Rule 10b5-1 plan ($10.5M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.43 on a 1–5 scale) (7 analysts), mean target USD 382 (range 331–441).
- Total return with dividends: 1Y +21.9% vs S&P 500 +14.9%; 5Y +131.8% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 2.98, revenue estimate $1.15B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.50B | $3.01B | $3.64B | $3.36B | $3.66B | $4.01B |
| Gross profit | $325M | $344M | $364M | $290M | $424M | — |
| Operating income | $119M | $115M | $129M | $54.1M | $167M | $225M |
| Net income | $85.0M | $83.4M | $91.0M | $30.3M | $118M | $165M |
| EPS (diluted) | $4.95 | $4.91 | $5.40 | $1.83 | $7.53 | — |
| Free cash flow | $84.9M | $90.4M | -$13.7M | $11.2M | $232M | $193M |
| Gross margin | 13.0% | 11.4% | 10.0% | 8.6% | 11.6% | — |
| Operating margin | 4.7% | 3.8% | 3.5% | 1.6% | 4.6% | 5.6% |
| Net margin | 3.4% | 2.8% | 2.5% | 0.9% | 3.2% | 4.1% |
| Revenue growth | +11.2% | +20.4% | +21.1% | -7.7% | +8.8% | — |
| Cash + short-term investments | $82.1M | $51.0M | $24.9M | $3.5M | $150M | — |
| Total debt | $4.5M | $40.6M | $36.2M | $74.4M | $59.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 24.0x · P/S 1.0x · EV/EBITDA 13.0x · EV/Sales 1.0x · P/FCF 20.5x · P/B 5.3x · FCF yield 4.87% · Earnings yield 4.16% · Buyback yield (TTM) 0.00% · Net cash $129M · EV $3.84B
P/E at fiscal year-ends: Dec 2025 29.0x, Dec 2024 81.2x, Dec 2023 26.8x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold MYRG. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Third Avenue Management |  | 1.05% | $6.5M | Reduced -54.7% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-03 | Lucky Donald C.I. | Director | 14,675 | $6.6M | 72.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-03 | Hartwick Kenneth Michael | Director | 3,500 | $1.6M | 15.8% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-01 | Huntington Kelly Michelle | Senior VP and CFO | 2,000 | $915K | 29.9% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-01 | O'Connor Shirin | Director | 3,159 | $1.4M | 43.8% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.43 on a 1–5 scale), 7 analysts; mean target USD 382 (low 331, high 441).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | Stifel | Target lowered | Buy | $445 → $393 |
| 2026-10-06 | Jefferies | Upgrade | Hold → Buy | $377 → $370 |
| 2026-08-13 | Goldman Sachs | Target lowered | Neutral | $469 → $422 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +21.9% | +131.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +22.0% | +18.3% |
| Volatility (annualized) | 49.5% | 44.1% |
| Max drawdown | -49.1% (Jun 2026→Oct 2026) | -50.3% (Apr 2024→Sep 2024) |

## Peers (Engineering & Construction)
KBR (KBR, Inc.) USD 39.53 +5.95% · ROAD (Construction Partners, Inc.) USD 83.93 -1.19% · AGX (Argan, Inc.) USD 330.3 -4.50% · GVA (Granite Construction Incorporat) USD 107.45 -2.08% · ECG (Everus Construction Group, Inc.) USD 97.05 -8.44% · FLR (Fluor Corporation) USD 43.42 -6.44%

## More
Full page: https://nexqual.com/MYRG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| C&I | $557.7M | 51.6% | +41.5% | $47.3M | 8.5% |
| T&D | $524.0M | 48.4% | +3.5% | $49.5M | 9.4% |
| Corporate costs (not allocated) | — | — | — | -$28.9M | — |
| Total revenue | $1.08B | 100% | — | $67.9M | 6.3% |

## Customer concentration

Period ended 2026-06-30: 10.8% of revenue from unnamed direct customers (10-Q, filed 2026-07-29).

## Company outlook (8-K filed 2026-07-29)

- "With strong market fundamentals, a growing portfolio of capabilities, and a disciplined approach to project selection and execution, we believe we are well positioned to deliver continued growth and create long-term value for our shareholders." Second Quarter Results MYR reported second-quarter 2026 revenues of $1.08 billion, an increase of $181.4 million, compared to the second quarter of 2025."
- "Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.9 percent for the second quarter of 2026, compared to a net gross margin decrease of 1.0 percent for the second quarter of 2025."
- "Gross margin was also positively impacted during the first half of 2026, by a larger portion of our projects progressing at higher contractual margins, some of which are nearing or are at completion."
- "Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.7 percent for the first half of 2026, compared to a net gross margin decrease of 1.2 percent for the first half of 2025."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.98 | $2.95 | +1.0% | $1.15B | 6 |
| Next quarter (ends 2026-12-31) | $3.00 | $2.90 | +3.3% | $1.15B | 6 |
| Current fiscal year (ends 2026-12-31) | $12.13 | $11.47 | +5.7% | $4.39B | 6 |
| Next fiscal year (ends 2027-12-31) | $14.44 | $13.47 | +7.1% | $5.07B | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±13.7%; last 8 reports averaged ±7.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 60.7% | ±13.7% |
| 2026-12-18 | 56 | 55.7% | ±18.2% |
| 2027-01-15 | 84 | 54.6% | ±20.4% |
| 2027-04-16 | 175 | 54.8% | ±30.0% |