MYR Group Inc (MYRG)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 364,397 | 343,962 | 324,981 | 275,853 | 214,158 |
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Gross profit margin | 10.00% | 11.44% | 13.00% | 12.28% | 10.35% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $364,397K ÷ $3,643,180K
= 10.00%
MYR Group Inc's gross profit margin has fluctuated over the past five years. In 2023, the company's gross profit margin decreased to 10.00% from 11.43% in 2022. This decline may indicate a decrease in the company's ability to control the cost of goods sold relative to its revenue. However, compared to 2019 and 2020 where the gross profit margins were 10.34% and 12.27% respectively, the 2023 margin still appears relatively stable.
Overall, the trend in MYR Group Inc's gross profit margin suggests some volatility in its ability to generate profits from its core operations. Further analysis of the company's cost structure and revenue sources may provide insights into the factors influencing these fluctuations.
Peer comparison
Dec 31, 2023