MYR GROUP INC. (MYRG) FY2025 10-K Annual Report
MYR GROUP INC. (MYRG) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
MYR GROUP INC. FY2025 10-K Analysis
Business Overview
- • Core business: design, construction, operations and management services for electric power transmission, distribution, commercial and industrial construction
- • Emphasis on increased risk and cost exposure from reduced availability and higher premiums of third-party insurance, notably wildfire-related coverage
- • Strategic focus on managing heightened risks due to natural disasters, pandemics, regulatory changes, and climate change impacts on insurance, projects, and operations
- • Exposure to Canadian market risks including currency fluctuation and complex legal/regulatory environment impacting profitability
- • Highlighted pandemic-related supply chain disruptions, workforce impacts, and cybersecurity risks as ongoing operational challenges
Management Discussion & Analysis
- • Revenue and income by segment or total not disclosed in provided MD&A; income before taxes $161.3M in 2025 vs $46.5M in 2024
- • Effective income tax rate 26.6% in 2025 vs 34.9% in 2024 and 27.2% in 2023
- • No direct segment profitability figures provided; largest pension contribution Southern California IBEW-NECA Fund $51.6M in 2025
- • Outstanding purchase commitments $33.9M for construction equipment with payments in 2026; total pension contributions $193.5M in 2025 vs $167.7M in 2024
- • Stock-based compensation expense $14.8M in 2025 vs $8.5M in 2024; unrecognized expense $18.6M with ~1.6 years weighted average vesting period
- • Management notes no material impact from July 2025 tax law changes; ongoing evaluation with no expected material effects on financials
Risk Factors
- • Regulatory risk: delays caused by failure to timely obtain permits or meet regulatory requirements impacting project schedules and costs
- • Macroeconomic risk: tariffs and inflation increasing material costs, reducing customer spending and project awards
- • Operational risk: shortages of qualified linemen and field supervisors, especially in remote areas, increasing labor costs and affecting productivity
- • Competitive risk: competition from in-house utility service organizations performing similar services internally
- • Financial risk: significant variability in timing and volume of contract awards causing unpredictable fluctuations in cash flows and asset utilization
MYR GROUP INC. FY2025 Key Financial MetricsXBRL
Revenue
$3.7B
▲ +8.8% YoY
Net Income
$118M
▲ +291.3% YoY
Gross Margin
11.6%
▲ +295bp YoY
Operating Margin
4.6%
▲ +295bp YoY
Net Margin
3.2%
▲ +234bp YoY
ROE
17.9%
▲ +1289bp YoY
Total Assets
$1.6B
▲ +4.4% YoY
EPS (Diluted)
$7.53
▲ +311.5% YoY
Operating Cash Flow
$327M
▲ +274.9% YoY
Source: XBRL data from MYR GROUP INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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