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MYR Group (MYR Group) Beneish M-Score

: -2.17 (As of Today)
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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for MYR Group's Beneish M-Score or its related term are showing as below:

MYRG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.15   Med: -2.52   Max: -1.91
Current: -2.17

During the past 13 years, the highest Beneish M-Score of MYR Group was -1.91. The lowest was -3.15. And the median was -2.52.


MYR Group Beneish M-Score Historical Data

The historical data trend for MYR Group's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

MYR Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Take a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only -2.29 -3.15 -2.69 -2.39 -2.17

MYR Group Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Beneish M-Score Take a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.39 -2.61 -2.28 -2.30 -2.17

Competitive Comparison

For the Engineering & Construction subindustry, MYR Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


MYR Group Beneish M-Score Distribution

For the Construction industry and Industrials sector, MYR Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where MYR Group's Beneish M-Score falls into.



MYR Group Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of MYR Group for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.9961+0.528 * 1.1433+0.404 * 0.8993+0.892 * 1.2112+0.115 * 1.1096
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8709+4.679 * 0.010007-0.327 * 0.9799
=-2.17

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was $955 Mil.
Revenue was 1004.197 + 939.476 + 888.616 + 811.616 = $3,644 Mil.
Gross Profit was 97.495 + 92.383 + 90.127 + 84.392 = $364 Mil.
Total Current Assets was $1,026 Mil.
Total Assets was $1,579 Mil.
Property, Plant and Equipment(Net PPE) was $304 Mil.
Depreciation, Depletion and Amortization(DDA) was $59 Mil.
Selling, General, & Admin. Expense(SGA) was $235 Mil.
Total Current Liabilities was $747 Mil.
Long-Term Debt & Capital Lease Obligation was $55 Mil.
Net Income was 24.042 + 21.512 + 22.273 + 23.163 = $91 Mil.
Non Operating Income was 0.944 + 0.663 + 1.435 + 1.134 = $4 Mil.
Cash Flow from Operations was 42.624 + 12.548 + -21.314 + 37.158 = $71 Mil.
Total Receivables was $791 Mil.
Revenue was 863.956 + 799.848 + 708.114 + 636.624 = $3,009 Mil.
Gross Profit was 96.269 + 86.346 + 80.862 + 80.485 = $344 Mil.
Total Current Assets was $890 Mil.
Total Assets was $1,399 Mil.
Property, Plant and Equipment(Net PPE) was $264 Mil.
Depreciation, Depletion and Amortization(DDA) was $58 Mil.
Selling, General, & Admin. Expense(SGA) was $222 Mil.
Total Current Liabilities was $667 Mil.
Long-Term Debt & Capital Lease Obligation was $59 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(954.81 / 3643.905) / (791.427 / 3008.542)
=0.262029 / 0.26306
=0.9961

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(343.962 / 3008.542) / (364.397 / 3643.905)
=0.114328 / 0.100002
=1.1433

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (1026.244 + 303.99) / 1578.746) / (1 - (890.291 + 263.719) / 1398.858)
=0.157411 / 0.175034
=0.8993

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=3643.905 / 3008.542
=1.2112

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(58.17 / (58.17 + 263.719)) / (59.138 / (59.138 + 303.99))
=0.180714 / 0.162857
=1.1096

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(234.611 / 3643.905) / (222.424 / 3008.542)
=0.064384 / 0.073931
=0.8709

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((55.277 + 747.202) / 1578.746) / ((58.637 + 666.96) / 1398.858)
=0.508302 / 0.518707
=0.9799

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(90.99 - 4.176 - 71.016) / 1578.746
=0.010007

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

MYR Group has a M-score of -2.17 suggests that the company is unlikely to be a manipulator.


MYR Group Beneish M-Score Related Terms

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MYR Group (MYR Group) Business Description

Traded in Other Exchanges
Address
12121 Grant Street, Suite 610, Thornton, CO, USA, 80241
MYR Group Inc is a U.S.-based holding company that provides specialty electrical construction services through its subsidiaries. The company operates through two segments. The transmission and distribution segment provides designing, engineering, procurement, construction, upgrade, maintenance, and repair services on transmission and distribution network and substation facilities. The commercial and industrial segment provides services such as the design, installation, maintenance, and repair of commercial and industrial wiring, installation of traffic networks, and the installation of bridges. MYR Group generates the majority of its sales from the United States and Canada.
Executives
Swartz Richard S. Jr. officer: Group VP MYR GROUP INC., 1701 GOLF ROAD SUITE 3-1012, ROLLING MEADOWS IL 60008-4210
William Fry officer: VP, CLO and Secretary 10370 RICHMOND AVE, SUITE 600, HOUSTON TX 77042
Don A. Egan officer: SVP and COO C&I 12121 GRANT STREET, SUITE 610, THORNTON CO 80241
Maurice E. Moore director 1100 LATHROP AVENUE, RIVER FOREST IL 60305
Betty R. Johnson director 1115 CENTRAL AVE #239, NAPLES FL 34103
Jennifer Elaine Lowry director 2 HOLLINS AVE, BALTIMORE MD 21210
Jeffrey J. Waneka officer: SVP and COO C&I 1701 GOLF ROAD, SUITE 3-1012, ROLLING MEADOWS IL 60008
Tod M. Cooper officer: Senior Vice President 1701 GOLF RD, SUITE 3-1012, ROLLING MEADOWS IL 60008
Bradley Thede Favreau director 438 CLEARMONT AVE, APT C, BROOKLYN NY 11238
Kelly Michelle Huntington officer: Senior VP 7575 NORTH PENNSYLVANIA STREET, INDIANAPOLIS IN 46240
Ajoy Hari Karna director 2501 M ST NW, UNIT 508, WASHINGTON DC 20037
William A Koertner director, officer: Chairman, President and CEO MYR GROUP INC., 1701 GOLF ROAD SUITE 3-1012, ROLLING MEADOWS IL 60008-4210
Shirin O'connor director 3054 CREEKSIDE DRIVE, SENECA SC 29672
William Patterson director 60 ARDMORE ROAD, HO-HO-KUS NJ 07423
Gary Ronald Johnson director 6599 PINNACLE DRIVE, EDEN PRAIRIE MN 55346