MYR Group Inc (MYRG)

Solvency ratios

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
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
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
Debt-to-equity ratio 0.04 0.09 0.07 0.04 0.06 0.15 0.10 0.09 0.01 0.01 0.02 0.06 0.06 0.16 0.19 0.41 0.43 0.49 0.29 0.32
Financial leverage ratio 2.42 2.50 2.42 2.36 2.50 2.48 2.38 2.25 2.16 2.14 2.23 2.27 2.32 2.49 2.44 2.65 2.77 2.82 2.38 2.40

Solvency ratios provide insights into a company's ability to meet its long-term financial obligations. Looking at MYR Group Inc's solvency ratios over the past eight quarters, we can observe the following trends:

1. Debt-to-assets ratio: MYR Group Inc's debt-to-assets ratio has been relatively stable over the period, fluctuating between 0.02 and 0.07. This indicates that the company has maintained a conservative level of debt relative to its total assets, suggesting a strong ability to cover its long-term debt obligations with its assets.

2. Debt-to-capital ratio: The debt-to-capital ratio of MYR Group Inc has also shown consistency, hovering around 0.05 to 0.14. This ratio reflects the proportion of the company's capital that is financed through debt, and the stability indicates a balanced capital structure with a manageable level of debt.

3. Debt-to-equity ratio: The debt-to-equity ratio has followed a similar trend to the debt-to-capital ratio, indicating that MYR Group Inc has maintained a relatively steady relationship between debt and equity financing. The company's ability to keep this ratio low suggests a strong equity base supporting its operations.

4. Financial leverage ratio: The financial leverage ratio, which measures the extent to which a company relies on debt to finance its operations, has been fairly consistent around 2.25 to 2.50 for MYR Group Inc. This ratio indicates that the company has been managing its debt levels effectively without taking on excessive financial risk.

Overall, the solvency ratios of MYR Group Inc suggest that the company has maintained a strong financial position with a prudent level of debt relative to its assets, capital, and equity. These ratios reflect the company's ability to meet its long-term obligations and indicate a stable and sustainable financial structure.

Coverage ratios

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
Interest coverage 26.31 29.56 29.69 32.59 33.05 42.90 65.43 65.09 65.65 54.85 37.39 27.77 18.84 14.13 10.69 9.57 9.34 9.55 10.93 11.84

The interest coverage ratio for MYR Group Inc has shown a relatively stable trend over the quarters provided. The ratio has consistently remained well above 1, indicating that the company's operating income is sufficiently high to cover its interest expenses.

In Q1 2022, the interest coverage ratio was the lowest at 30.83, indicating that the company's operating income was able to cover its interest expenses approximately 30.83 times over. However, the ratio improved in the subsequent quarters, reaching its peak in Q2 2022 at 65.01 and Q3 2022 at 66.02, reflecting a strong ability to meet interest obligations.

Throughout 2023, the interest coverage ratio remained relatively strong, ranging between 30.83 to 35.83, indicating continued stability in the company's ability to cover its interest payments comfortably with its operating income.

Overall, the consistent and high interest coverage ratios suggest that MYR Group Inc has a healthy financial position and is effectively managing its interest expenses in relation to its operating income.