MYR Group Inc (MYRG)
Debt-to-assets ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 29,188 | 57,073 | 39,950 | 20,498 | 35,479 | 80,852 | 54,381 | 48,657 | 3,464 | 3,986 | 7,235 | 25,039 | 25,039 | 65,876 | 74,782 | 153,257 | 157,087 | 171,638 | 99,623 | 106,204 |
| Total assets | US$ in thousands | 1,578,750 | 1,560,730 | 1,464,800 | 1,360,240 | 1,398,860 | 1,329,960 | 1,264,370 | 1,205,580 | 1,121,090 | 1,063,830 | 1,050,830 | 1,019,250 | 995,859 | 1,018,910 | 950,086 | 993,246 | 1,007,870 | 988,013 | 806,695 | 795,218 |
| Debt-to-assets ratio | 0.02 | 0.04 | 0.03 | 0.02 | 0.03 | 0.06 | 0.04 | 0.04 | 0.00 | 0.00 | 0.01 | 0.02 | 0.03 | 0.06 | 0.08 | 0.15 | 0.16 | 0.17 | 0.12 | 0.13 |
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 fluctuations over the past eight quarters. In Q4 2023 and Q1 2023, the company maintained a low level of indebtedness relative to its total assets, with ratios of 0.02. This indicates that only a small portion of the company's assets was financed through debt during these periods.
In Q2 2023, the debt-to-assets ratio increased slightly to 0.03, suggesting a moderate uptick in the company's debt relative to its total assets. However, this ratio remained relatively low compared to previous quarters.
The highest debt-to-assets ratio observed in the dataset was in Q3 2022, where it reached 0.07. This could indicate a higher level of leverage during that period. Subsequently, the ratio decreased in the following quarters, staying around 0.04-0.05 in Q2 and Q3 2022.
Overall, MYR Group Inc has generally maintained a conservative approach to debt financing, with the debt-to-assets ratio typically standing at low to moderate levels, indicating a prudent balance between debt and asset utilization.
Peer comparison
Dec 31, 2023