MYR Group Inc (MYRG)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Inventory turnover	—	—	—	—	—	—	—	—	53.33	—	—	—	—	—	—	—	—	—	—	—
Receivables turnover	6.72	6.22	6.79	7.33	6.09	6.12	6.07	6.31	6.27	6.45	5.94	6.03	5.55	5.38	6.23	5.88	5.13	3.64	4.07	3.78
Payables turnover	9.80	8.95	9.61	10.43	9.19	9.53	9.90	10.86	11.87	12.16	11.10	11.59	13.31	10.37	13.66	11.83	10.50	9.02	9.93	8.88
Working capital turnover	13.06	12.01	13.16	14.24	13.47	11.17	11.88	11.70	10.01	10.05	11.10	10.67	11.62	11.09	11.41	8.46	8.54	7.91	8.42	7.79

Inventory turnover information is not available in the provided data.

Receivables turnover for MYR Group Inc has remained relatively stable over the past eight quarters, ranging from 6.24 to 7.49. This indicates that on average, the company collects its accounts receivable approximately 6 to 7 times a year.

Payables turnover has also shown consistency, with values ranging from 8.32 to 9.90. A higher payables turnover indicates that the company is paying its suppliers more frequently within the year.

The working capital turnover has shown fluctuations but generally increasing trend from 11.17 to 14.24. A higher working capital turnover signifies more efficient use of working capital to generate sales revenue.

Overall, these activity ratios suggest that MYR Group Inc has been effectively managing its accounts receivable, payables, and working capital to support its sales activities over the past eight quarters.

Average number of days

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Days of inventory on hand (DOH)	days	—	—	—	—	—	—	—	—	6.84	—	—	—	—	—	—	—	—	—	—	—
Days of sales outstanding (DSO)	days	54.29	58.66	53.75	49.79	59.92	59.64	60.17	57.85	58.21	56.59	61.42	60.55	65.81	67.90	58.61	62.03	71.08	100.39	89.67	96.68
Number of days of payables	days	37.26	40.78	37.98	34.98	39.73	38.30	36.87	33.60	30.75	30.01	32.87	31.51	27.42	35.19	26.72	30.85	34.75	40.48	36.74	41.09

In analyzing MYR Group Inc's activity ratios, we first look at the Days of Inventory on Hand (DOH) metric. Unfortunately, the data provided does not include any specific values for DOH across the quarters, making it challenging to evaluate the efficiency of inventory management.

Next, we examine the Days of Sales Outstanding (DSO) metric, which reflects the average number of days the company takes to collect revenue after a sale. From Q1 2022 to Q4 2023, the DSO ranged from 48.70 days to 58.82 days. A decreasing trend in DSO is generally favorable as it signifies faster collection of receivables, but the values seem to fluctuate over the quarters.

Lastly, the Number of Days of Payables metric indicates how long it takes for the company to pay its suppliers. The values ranged from 36.88 days to 43.90 days across the provided quarters. A higher number of days of payables suggests that MYR Group Inc is taking more time to pay its obligations, potentially indicating better cash flow management.

Overall, it seems that MYR Group Inc could potentially improve its efficiency in collecting receivables to reduce Days of Sales Outstanding. The stability in the Number of Days of Payables indicates a consistent approach to managing supplier payments. Further analysis and comparison with industry peers would provide more insights into the company's performance in these areas.

Long-term

	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Fixed asset turnover	13.66	13.80	13.74	13.55	13.08	13.02	12.56	12.58	12.75	13.31	13.29	12.82	12.16	11.92	12.02	11.49	11.16	10.90	10.43	10.17
Total asset turnover	2.31	2.24	2.30	2.34	2.15	2.10	2.06	2.11	2.23	2.31	2.34	2.28	2.25	2.17	2.30	2.13	2.05	1.97	2.18	2.08

MYR Group Inc's long-term activity ratios indicate the efficiency with which the company is utilizing its assets to generate revenue. The fixed asset turnover ratio has been consistently high over the past eight quarters, averaging around 13, which suggests that MYR Group is efficiently using its fixed assets to generate sales. This stability in the fixed asset turnover ratio indicates effective management of long-term assets to drive revenue.

Moreover, the total asset turnover ratio has also shown a positive trend, with an average of approximately 2.25 over the same period. This metric signifies that MYR Group is generating sales relative to its total assets at an efficient rate. The increasing trend in the total asset turnover ratio indicates that the company is effectively utilizing its total assets to generate revenue, reflecting strong operational efficiency and asset management.

Overall, the consistently high fixed asset turnover ratio and the increasing trend in the total asset turnover ratio suggest that MYR Group Inc is effectively managing its long-term assets to drive sales growth and maximize operational efficiency.