MYR Group has delivered a perfect 4-of-4 earnings beat record with an average surprise of 22.6% and exceptional free cash flow conversion at 161% of net income, but the stock is already 12% above its analyst target and the debt-to-equity ratio of 8.8 introduces significant leverage risk.
Thesis pillars
- Perfect Earnings Beat Streak→Stable
- Exceptional Cash Flow Conversion→Stable
- Price Above Target Negative Asymmetry→Stable
- +1 more pillar — see the Why tab for full reasoning
MYR Group, Inc. (MYRG) Stock Analysis
Catalyst-Driven edge
Industrials · Engineering & Construction
Sell if holding. Analyst target reached at $430.00 — A.R:R is negative (-0.7) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Leverage penalty (D/E 8.8): -1.5.
MYR Group provides specialty electrical construction services through two segments — Transmission and Distribution (T&D, 54.7% of 2025 revenues) and Commercial and Industrial (C&I, 45.3%) — serving electric utilities, general contractors, and facility owners across the United... Read more
Sell if holding. Analyst target reached at $430.00 — A.R:R is negative (-0.7) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Leverage penalty (D/E 8.8): -1.5. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.4/10, high confidence.
Passes 6/8 gates (clean insider activity, no SEC red flags, news events none recent, earnings proximity 25d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: aggressive.
About MYR Group, Inc.
About MYR Group, Inc.
MYR Group's total backlog reached $2.8 billion at December 31, 2025, with the C&I segment carrying $1.8 billion and T&D holding $1.0 billion; T&D revenues represented 54.7% of consolidated revenues in 2025 and C&I the remaining 45.3%. Fixed-price contracts accounted for 57.0% of total revenue in 2025, including 84.5% of C&I segment revenue. The company has operated continuously in the T&D sector since 1891 and conducts operations across the United States and Canada.
MYR Group earns revenue through fixed-price, unit-price, time-and-materials, time-and-equipment, and cost-plus contracts; T&D work spans all contract types while C&I revenue was 84.5% fixed-price in 2025. In the T&D segment, the company serves as a prime contractor for electric utilities, cooperatives, independent power producers, and independent transmission companies — many under multi-year master service agreements covering maintenance, upgrade, and new construction. The C&I segment functions primarily as a subcontractor to general contractors for data centers, airports, hospitals, stadiums, and other commercial and industrial facilities. The top 10 customers accounted for 38.0% of revenues in 2025, with no single customer exceeding 10% of annual revenues — a diversified base that limits individual customer concentration. Materials are generally available from multiple suppliers and the company is not dependent on any single subcontractor. High fixed costs, including fleet maintenance and overhead, may compress margins in periods of revenue decline because construction activity is inherently lumpy.
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MYR Group's labor costs are exposed to shortages of qualified linemen, wiremen, and field supervisors — professions requiring specialized skills and licensing that the company identifies as chronically short in certain regions. During periods of storm restoration services, linemen are frequently recruited across geographic regions at premium wages, which may impair retention on ongoing projects and increase labor costs. Exposure to multi-employer pension plan obligations — characteristic of a unionized construction workforce — could also result in withdrawal liabilities if participation in those plans declines. These labor dynamics compound the fixed-cost structure risk inherent in the T&D and C&I contracting model.
See also: Industrials · Engineering & Construction
From MYR Group, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-07-06Recent Developments — MYR Group, Inc.
Latest news
- NEWS MYR Group (NASDAQ:MYRG) Delivers Impressive Q1 CY2026 - StockStory — StockStory positive
- NEWS MYR Group (MYRG) Q1 Earnings and Revenues Top Estimates - Yahoo Finance — Yahoo Finance positive
- NEWS MYR Group (NASDAQ:MYRG) Delivers Impressive Q1 CY2026 - TradingView — TradingView positive
- NEWS MYR GROUP ($MYRG) Releases Q1 2026 Earnings - Quiver Quantitative — Quiver Quantitative positive
- NEWS $1 billion quarter lifts MYR Group to record profit and backlog - Stock Titan — Stock Titan positive
Generated 2026-07-06T04:40:27Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomertop 10 customers38%10-K Item 1: 'our top 10 customers accounted for 38.0%, 37.8%, and 37.9%, of our revenues, respectively'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker·1 ceiling hit
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $430.00 — A.R:R is negative (-0.7) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Leverage penalty (D/E 8.8): -1.5. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $402.70. Score 5.4/10, high confidence.
Take-profit target: $493.49 (+14.0% upside). Prior stop was $402.70. Stop-loss: $402.70.
Analyst target reached - limited upside remaining; Leverage penalty (D/E 8.8): -1.5; Negative momentum.
MYR Group, Inc. trades at a P/E of 47.8 (forward 32.9). TrendMatrix value score: 5.0/10. Verdict: Sell.
14 analysts cover MYRG with a consensus score of 4.1/5. Average price target: $455.
What does MYR Group, Inc. do?MYR Group provides specialty electrical construction services through two segments — Transmission and Distribution...
MYR Group provides specialty electrical construction services through two segments — Transmission and Distribution (T&D, 54.7% of 2025 revenues) and Commercial and Industrial (C&I, 45.3%) — serving electric utilities, general contractors, and facility owners across the United States and Canada. Total backlog stood at $2.8 billion at December 31, 2025.