MYR Group Inc (MYRG)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 129,093 | 114,907 | 118,560 | 86,545 | 57,178 |
| Revenue | US$ in thousands | 3,643,180 | 3,007,360 | 2,499,490 | 2,245,640 | 2,068,580 |
| Operating profit margin | 3.54% | 3.82% | 4.74% | 3.85% | 2.76% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $129,093K ÷ $3,643,180K
= 3.54%
The operating profit margin of MYR Group Inc has shown some fluctuations over the past five years. In 2021, the operating profit margin was at its highest at 4.62%, indicating that the company was able to generate more operating profit relative to its revenue during that period.
However, in 2019, the operating profit margin was at its lowest at 2.59%, suggesting a lower efficiency in converting revenue into operating profit during that year. The operating profit margin improved in 2020 to 3.73% but slightly decreased in 2022 to 3.74%.
In 2023, the operating profit margin continued to decrease to 3.43%, indicating a slight decline in the company's ability to generate operating profit compared to revenue. Overall, despite fluctuations, the company has generally maintained operating profit margins above 3%, showing a reasonable level of operational efficiency over the years.
Peer comparison
Dec 31, 2023