MYR Group Inc (MYRG)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 651,202 | 625,459 | 604,300 | 577,565 | 560,200 | 535,877 | 531,082 | 536,278 | 519,102 | 496,176 | 471,625 | 448,460 | 429,288 | 408,600 | 389,446 | 374,982 | 364,471 | 350,568 | 339,039 | 330,727 |
| Debt-to-capital ratio | 0.04 | 0.08 | 0.06 | 0.03 | 0.06 | 0.13 | 0.09 | 0.08 | 0.01 | 0.01 | 0.02 | 0.05 | 0.06 | 0.14 | 0.16 | 0.29 | 0.30 | 0.33 | 0.23 | 0.24 |
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 shown fluctuations over the past eight quarters, ranging from 0.05 to 0.14. Generally, a low debt-to-capital ratio indicates that the company relies less on debt financing in relation to its total capital structure.
In Q4 2023, the debt-to-capital ratio was 0.06, which represents a relatively low level of debt compared to the company's total capital. This suggests that MYR Group Inc may have a conservative approach to debt management and is likely less leveraged.
The ratio increased to 0.09 in Q3 2023 from 0.07 in Q2 2023, indicating a slight rise in the company's debt relative to its total capital. However, the ratio remains at a moderate level, suggesting that MYR Group Inc's debt levels did not experience a significant increase that would raise concerns about its financial stability.
Looking back over the past year, MYR Group Inc's debt-to-capital ratio has generally remained within a reasonable range, indicating a balanced capital structure with a prudent level of debt usage. Overall, based on the observed trends, the company appears to maintain a healthy balance between debt and equity in its capital structure.
Peer comparison
Dec 31, 2023