MYR Group Inc (MYRG)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 29,188 | 35,479 | 3,464 | 25,039 | 157,087 |
| Total assets | US$ in thousands | 1,578,750 | 1,398,860 | 1,121,090 | 995,859 | 1,007,870 |
| Debt-to-assets ratio | 0.02 | 0.03 | 0.00 | 0.03 | 0.16 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $29,188K ÷ $1,578,750K
= 0.02
The debt-to-assets ratio of MYR Group Inc has shown varying trends over the past five years. In 2023, the ratio stands at 0.02, indicating that the company's total debt represents a relatively small portion of its total assets. This suggests a conservative approach to financing operations and potential reduced financial risk.
Comparing this to the ratio in 2022, which was 0.03, there has been a slight improvement in the company's leverage position. The significant drop in the ratio from 0.17 in 2019 to 0.00 in 2021 is notable, indicating a substantial decrease in debt relative to assets during that period.
Although the ratio increased slightly in 2020 to 0.03, it remained at a low level overall. This trend suggests that MYR Group Inc has effectively managed its debt levels in recent years and possibly utilized internal funds or equity financing to support its assets.
Overall, the decreasing trend in the debt-to-assets ratio over the past five years reflects positively on the company's financial stability and efficient capital structure management.
Peer comparison
Dec 31, 2023