MYR Group Inc (MYRG)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 651,202 | 560,200 | 519,102 | 429,288 | 364,471 |
| Debt-to-capital ratio | 0.04 | 0.06 | 0.01 | 0.06 | 0.30 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $29,188K ÷ ($29,188K + $651,202K)
= 0.04
The debt-to-capital ratio of MYR Group Inc has fluctuated over the past five years. In 2023, the ratio stood at 0.06, slightly lower than the previous year's ratio of 0.07. This indicates that MYR Group Inc's debt relative to its total capital decreased slightly in 2023. Compared to 2021 and 2020, where the ratio was 0.01 and 0.06 respectively, the company's reliance on debt in its capital structure has increased in 2023. Notably, the ratio has significantly improved since 2019, when it was relatively high at 0.31, suggesting that the company has effectively managed its debt levels over the years. Overall, a debt-to-capital ratio of 0.06 in 2023 indicates a moderate level of debt utilization in MYR Group Inc's capital structure.
Peer comparison
Dec 31, 2023