MYR Group Inc
myrgroup.comWhat Do They Do?
Builds and maintains transmission lines, substations and distribution systems for electric utilities and power-generation companies; also provides electrical construction services to commercial and industrial customers.
10-K for FY2025, filed Feb 25, 2026Transmission and Distribution segment. We have operated in the transmission and distribution industry since 1891. We are one of the largest…View ↗
In our T&D segment, we generally serve the electric utility industry and power generation companies as a prime contractor, through…View ↗
Commercial and Industrial segment. We have provided electrical contracting services for commercial and industrial construction since 1912.…View ↗
How Do They Make Money?
Customers pay for completed specified work or units of work. Contracts set a fixed price or per-unit price, while some bill for labor, equipment and materials at agreed rates or for costs plus a margin.
10-K for FY2025, filed Feb 25, 2026A majority of the Company’s revenues are earned through contracts with customers that normally provide for payment upon completion of…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$3.7B
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10-K for FY2025, filed Feb 25, 2026
$3.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
T&D
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
55%
FY2022: 58%
|
T&D, FY2025
$2B Sources
|
Sold outright |
|
C&I
Sold outright
10-K for FY2025, filed Feb 25, 2026 |
45%
FY2022: 42%
|
C&I, FY2025
$1.7B Sources
|
Sold outright |
Who Are Their Customers?
Electric utilities and power-generation companies hire MYR as a prime contractor; commercial and industrial projects usually come through general contractors, though facility owners also contract directly.
10-K for FY2025, filed Feb 25, 2026In our T&D segment, we generally serve the electric utility industry and power generation companies as a prime contractor, through…View ↗
In our C&I segment, we generally provide our electric construction and maintenance services as a subcontractor to general contractors in…View ↗
Our T&D customers include many of the leading providers in the electric utility industry. These customers include investor-owned utilities…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.
10-K for FY2025, filed Feb 25, 2026
$166.9MView ↗
10-K for FY2025, filed Feb 25, 2026
$118.4MView ↗
10-K for FY2025, filed Feb 25, 2026
$232.2MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Jul 29, 2026
$49.9MView ↗
- ▲ +88%
- vs $26.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Jul 29, 2026
Open tableView ↗
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May 27, 2026
Agreed to acquire Valley Holdings and its subsidiaries
The agreement covers Valley, a full-service electrical contractor, subject to regulatory approval and customary closing conditions.
Sources
8-K, filed May 27, 2026
On May 27, 2026, MYR Group Inc. entered into an agreement to acquire all issued and outstanding shares of capital stock of Valley Holdings…View ↗
Growing. Revenue grew 46% in 4 years, from $2.5B in FY2021 to $3.7B in FY2025, about 10% a year.
Electric-vehicle charging work
The latest report describes electric-vehicle charging infrastructure in both T&D and C&I, extending the earlier descriptions of utility network and commercial electrical construction work.
10-K for FY2022, filed Feb 22, 2023 10-K for FY2025, filed Feb 25, 2026
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