MYR Group Inc (MYRG)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	364,397	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	214,158	192,627	178,716	174,183
Revenue (ttm)	US$ in thousands	3,643,182	3,503,201	3,363,351	3,182,690	3,007,357	2,790,230	2,601,725	2,543,615	2,499,388	2,461,226	2,457,936	2,320,105	2,245,418	2,208,523	2,183,497	2,119,856	2,069,209	1,944,479	1,761,776	1,652,918
Gross profit margin		10.00%	10.37%	10.62%	10.93%	11.44%	11.85%	12.62%	12.92%	13.00%	12.93%	12.65%	12.55%	12.29%	12.15%	11.50%	10.99%	10.35%	9.91%	10.14%	10.54%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $364,397K ÷ $3,643,182K
= 10.00%

MYR Group Inc's gross profit margin has shown a decreasing trend over the past eight quarters, dropping from 12.92% in Q1 2022 to 10.00% in Q4 2023. This indicates a decline in the company's ability to generate profit from its core operations. The decreasing trend could be a cause for concern as lower gross profit margins may impact the company's overall profitability and financial stability. Further analysis and investigation into the factors driving this decline would be essential to understand and address the underlying issues affecting MYR Group Inc's gross profit margin.

Peer comparison

Dec 31, 2023

Company name

Symbol

Gross profit margin

MYR Group Inc

MYRG

10.00%