MYR Group (FRA:MYP) Beneish M-Score: -3.19 (As of Jun. 25, 2026)

What is MYR Group Beneish M-Score?

MYR Group FRA:MYP +0.84% 83 Beneish M-Score is -3.19 as of Jun. 25, 2026. GuruFocus rates FRA:MYP with a GF Score™ of 83/100 and a GF Value™ of €161.57 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,704 Construction companies, MYR Group ranks better than 87.5% on this metric.

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 -3.19 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:

FRA:MYP' s Beneish M-Score Range Over the Past 10 Years
Min: -3.29 Med: -2.61 Max: -1.86
Current: -3.19

During the past 13 years, the highest Beneish M-Score of MYR Group was -1.86. The lowest was -3.29. And the median was -2.61.

MYR Group Beneish M-Score Related Terms

MYR Group Beneish M-Score Historical Data

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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.

MYR Group Beneish M-Score Chart

MYR Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.69

-2.39

-2.17

-2.68

-3.29

MYR Group Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.93	-2.92	-3.04	-3.29	-3.19

FRA:MYP vs TTEK, ECG, PRIM: Beneish M-Score 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 vs Construction Industry

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.

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83GF Score

MYR Group Inc FRA:MYP

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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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:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.8415

0.528 * 0.7387

0.404 * 0.8806

0.892 * 1.0489

0.115 * 1.083

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9752

4.679 * -0.1117

0.327 * 0.9284

-3.25

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was €753 Mil.
Revenue was 865.329 + 831.407 + 809.741 + 780.582 = €3,287 Mil.
Gross Profit was 116.291 + 95.035 + 95.332 + 89.917 = €397 Mil.
Total Current Assets was €939 Mil.
Total Assets was €1,448 Mil.
Property, Plant and Equipment(Net PPE) was €310 Mil.
Depreciation, Depletion and Amortization(DDA) was €59 Mil.
Selling, General, & Admin. Expense(SGA) was €226 Mil.
Total Current Liabilities was €716 Mil.
Long-Term Debt & Capital Lease Obligation was €37 Mil.
Net Income was 40.482 + 31.212 + 27.344 + 22.946 = €122 Mil.
Non Operating Income was -0.022 + 1.294 + 1.035 + 0.058 = €2 Mil.
Cash Flow from Operations was 73.308 + 98.065 + 81.443 + 28.49 = €281 Mil.

Total Receivables was €854 Mil.
Revenue was 771.098 + 792.454 + 800.127 + 770.039 = €3,134 Mil.
Gross Profit was 89.633 + 82.077 + 69.636 + 37.943 = €279 Mil.
Total Current Assets was €896 Mil.
Total Assets was €1,408 Mil.
Property, Plant and Equipment(Net PPE) was €292 Mil.
Depreciation, Depletion and Amortization(DDA) was €61 Mil.
Selling, General, & Admin. Expense(SGA) was €221 Mil.
Total Current Liabilities was €683 Mil.
Long-Term Debt & Capital Lease Obligation was €106 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)
	=	(753.434 / 3287.059)	/	(853.612 / 3133.718)
	=	0.229212	/	0.272396
	=	0.8415

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)
	=	(279.289 / 3133.718)	/	(396.575 / 3287.059)
	=	0.089124	/	0.120647
	=	0.7387

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 - (938.74 + 309.753) / 1447.512)	/	(1 - (895.611 + 292.472) / 1407.906)
	=	0.13749	/	0.156135
	=	0.8806

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
	=	3287.059	/	3133.718
	=	1.0489

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))
	=	(60.792 / (60.792 + 292.472))	/	(58.517 / (58.517 + 309.753))
	=	0.172087	/	0.158897
	=	1.083

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)
	=	(226.275 / 3287.059)	/	(221.194 / 3133.718)
	=	0.068838	/	0.070585
	=	0.9752

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)
	=	((37.472 + 715.939) / 1447.512)	/	((105.992 + 683.341) / 1407.906)
	=	0.520487	/	0.560643
	=	0.9284

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
	=	(121.984 - 2.365	-	281.306)	/	1447.512
	=	-0.1117

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 -3.25 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -3.19 mean?

MYR Group (FRA:MYP) has a Beneish M-Score of -3.19 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MYR Group and its competitors. According to the industry distribution chart, MYR Group ranks #213 out of 1704 companies in the Construction industry, placing it in the top 12.5%.

Is MYR Group's Beneish M-Score too high?

MYR Group's current Beneish M-Score is -3.19. Based on the distribution chart, MYR Group ranks #213 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, MYR Group has a GF Score™ of 83/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does MYR Group's Beneish M-Score compare to TTEK and ECG?

According to the Construction industry distribution chart, MYR Group ranks #213 out of 1704 companies for Beneish M-Score. This places MYR Group in the top 13% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Construction company?

A good Beneish M-Score depends on the Construction industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MYR Group and its competitors. MYR Group's current Beneish M-Score is -3.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is MYR Group stock overvalued right now?

Based on GuruFocus' analysis, MYR Group (FRA:MYP) is currently considered Significantly Overvalued. The stock's GF Value™ is €161.57, compared to a current price of €418.90 — trading 159.3% above its estimated fair value. The current Beneish M-Score is -3.19. MYR Group's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For MYR Group (FRA:MYP), the current Beneish M-Score is -3.19 as of Jun. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is MYR Group (FRA:MYP) Overvalued in 2026?

Based on GuruFocus' analysis, MYR Group stock appears to be overvalued. The current stock price of €418.90 is trading 159.3% above its estimated GF Value™ of €161.57. GuruFocus considers MYR Group to be Significantly Overvalued.

Key valuation signals for FRA:MYP:

Beneish M-Score: -3.19
GF Value™: €161.57 vs. price of €418.90 (159.3% above fair value)
GF Score™: 83/100 with 7 warning signs

No single metric tells the full story. See the FRA:MYP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

MYR Group Business Description

Industry Industrials Construction

Comparable Companies TTEK ECG PRIM ROAD LGN FLR ACA GVA ACM AGX PWR XPAR:DG FIX NSE:LT XAMS:FER XKRX:028260 XTER:HOT XMAD:ACS EME MTZ

Other Exchanges MYRG:USA MYP:Germany

Address 12121 Grant Street, Suite 610, Thornton, CO, USA, 80241

Website https://www.myrgroup.com

MYR Group Inc is a U.S. based holding company of specialty electrical construction service providers. Through its subsidiaries, it serves electric utility, commercial, and industrial construction markets in the United States and Canada, offering services such as design, engineering, procurement, construction, upgrades, maintenance, and repair, with a focus on construction, maintenance, and repair work. The company operates through two segments: Transmission and Distribution (T&D) and Commercial and Industrial (C&I). The majority of revenue is derived from the T&D segment, which provides a range of services on electric transmission and distribution networks and substation facilities, which include design, engineering, procurement, construction, upgrade and maintenance and repair services.

83GF Score

Get the complete analysis for FRA:MYP

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€418.90

Price

€161.57

GF Value

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