MYR Group Inc (MYRG)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 90,990 | 83,381 | 85,010 | 58,759 | 37,690 |
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Net profit margin | 2.50% | 2.77% | 3.40% | 2.62% | 1.82% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $90,990K ÷ $3,643,180K
= 2.50%
The net profit margin of MYR Group Inc has shown some variability over the past five years. In 2023, the net profit margin decreased to 2.50% from 2.77% in 2022. This decline may indicate a decrease in profitability relative to the previous year. Looking further back, the net profit margin was highest in 2021 at 3.40%, demonstrating a strong performance in terms of generating profits relative to revenue. In 2020 and 2019, the net profit margins were 2.61% and 1.82%, respectively, showing fluctuating profitability levels during those years.
Overall, MYR Group Inc's net profit margin has experienced fluctuations, with some years demonstrating stronger profitability than others. It is important for stakeholders to further investigate the underlying reasons for these fluctuations to assess the company's financial performance and future prospects.
Peer comparison
Dec 31, 2023