MYR Group Inc (MYRG)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 287,874 | 298,203 | 313,298 | 363,799 | 363,176 | 363,171 | 357,134 | 347,869 | 343,962 | 330,776 | 328,353 | 328,513 | 324,981 | 318,342 | 310,891 | 291,174 | 275,853 | 268,331 | 251,056 | 232,914 |
| Revenue (ttm) | US$ in thousands | 3,362,290 | 3,536,695 | 3,588,128 | 3,647,854 | 3,643,908 | 3,503,664 | 3,364,036 | 3,183,534 | 3,008,542 | 2,790,634 | 2,600,968 | 2,542,427 | 2,498,289 | 2,460,211 | 2,457,930 | 2,321,408 | 2,247,392 | 2,210,497 | 2,185,810 | 2,121,535 |
| Gross profit margin | 8.56% | 8.43% | 8.73% | 9.97% | 9.97% | 10.37% | 10.62% | 10.93% | 11.43% | 11.85% | 12.62% | 12.92% | 13.01% | 12.94% | 12.65% | 12.54% | 12.27% | 12.14% | 11.49% | 10.98% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $287,874K ÷ $3,362,290K
= 8.56%
The gross profit margin of MYR Group Inc has displayed some fluctuations over the period from March 31, 2020, to December 31, 2024. Initially starting at 10.98% in March 2020, the margin gradually increased to a peak of 13.01% by December 31, 2021. This upward trend demonstrates an improvement in the company's ability to generate profits from its core operations.
However, after reaching the peak in December 2021, the gross profit margin began to decline. This decline continued through the following quarters, dropping to 8.56% by December 31, 2024. The decrease in the gross profit margin suggests that MYR Group Inc may be facing challenges in managing its costs or maintaining its pricing strategies, leading to lower profitability from its sales.
It is essential for the company to closely monitor and evaluate the factors contributing to the decrease in the gross profit margin to address any underlying issues promptly. By implementing strategic cost management and pricing adjustments, MYR Group Inc can work towards improving its profitability and ensuring sustainable financial performance in the future.
Peer comparison
Dec 31, 2024