MYR Group Inc (MYRG)
Net profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 30,263 | 90,990 | 83,381 | 85,010 | 58,759 |
| Revenue | US$ in thousands | 3,362,290 | 3,643,900 | 3,008,540 | 2,498,290 | 2,247,390 |
| Net profit margin | 0.90% | 2.50% | 2.77% | 3.40% | 2.61% |
December 31, 2024 calculation
Net profit margin = Net income ÷ Revenue
= $30,263K ÷ $3,362,290K
= 0.90%
Based on the provided data, MYR Group Inc's net profit margin has fluctuated over the past five years. It increased from 2.61% as of December 31, 2020, to 3.40% as of December 31, 2021. However, it decreased to 2.77% by December 31, 2022, and further dropped to 2.50% by December 31, 2023. The most notable decline was seen as of December 31, 2024, where the net profit margin decreased significantly to 0.90%.
The decreasing trend in the net profit margin may indicate challenges MYR Group Inc faces in maintaining profitability relative to its revenue. A lower net profit margin could be a result of various factors, such as increasing costs, pricing pressures, or operational inefficiencies.
It is important for MYR Group Inc to closely monitor its cost structure and operational performance to improve its net profit margin and ensure sustainable profitability in the long term. Additionally, the company may need to strategically review its pricing strategy and cost management practices to address the decline in the net profit margin observed in the latest fiscal year.
Peer comparison
Dec 31, 2024