MYR Group (MYRG) concentration risks

The company's concentration profile is modest and limited to the customer side. The top 10 customers accounted for 38.0% of revenues in the most recent fiscal year, a figure that has remained essentially flat — 37.8% and 37.9% in the two prior years — suggesting a stable medium-share exposure by disclosed size. The consistency of that share across three periods implies the customer mix is not shifting materially and that no single engagement is dominating the top-10 composition in an unusual way. The character is dependency: revenue is partially linked to repeat or continuing work with a defined set of buyers, so changes in capital spending plans, contract renewals, or project completions within that tier could affect the revenue profile. However, a moderate concentration at roughly that share across the top 10 also implies meaningful diversification below that cohort, limiting the sensitivity to any one relationship. No geographic, supplier, product, or named-customer concentration is separately disclosed. On balance, the disclosed profile is narrow and the medium share level does not, on its own, represent a decisive risk factor for the investment thesis. The main variable worth monitoring is whether the 10-customer share remains stable or begins trending toward a smaller number of dominant relationships as the project backlog evolves.

For the engine’s reasoning on MYRG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.