MYR Group Inc (MYRG)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 290,319 | 364,397 | 343,962 | 324,981 | 275,853 |
| Revenue | US$ in thousands | 3,362,290 | 3,643,900 | 3,008,540 | 2,498,290 | 2,247,390 |
| Gross profit margin | 8.63% | 10.00% | 11.43% | 13.01% | 12.27% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $290,319K ÷ $3,362,290K
= 8.63%
The gross profit margin of MYR Group Inc has exhibited a fluctuating trend over the past five years. Starting from 12.27% in December 31, 2020, the gross profit margin improved to 13.01% by December 31, 2021. However, in the subsequent years, the margin declined to 11.43% in December 31, 2022, further dropping to 10.00% by December 31, 2023, and then to 8.63% by December 31, 2024. This declining trend indicates potential challenges in maintaining profitability levels relative to cost of goods sold. It is crucial for the company to closely monitor its cost structures and pricing strategies to address this decrease in gross profit margin, ensuring sustainable profitability in the future.
Peer comparison
Dec 31, 2024