Is MYR Group, Inc. overvalued or undervalued?

As of 30 June 2025, the valuation grade for MYR Group, Inc. moved from expensive to very expensive, indicating a significant shift in its valuation perception. The company appears to be overvalued based on its current metrics, with a P/E ratio of 74, a Price to Book Value of 4.68, and an EV to EBITDA of 21.59. In comparison, peers such as MasTec, Inc. have a P/E of 57.22, while TopBuild Corp. shows a more reasonable P/E of 24.98, highlighting MYR Group's elevated valuation relative to its industry.
The company's recent performance has been strong, with a year-to-date return of 23.73% compared to the S&P 500's 12.22%, and a remarkable 88.07% return over the past year against the S&P 500's 17.14%. However, despite these impressive returns, the high valuation ratios suggest that MYR Group, Inc. may not be a sustainable investment at its current price level.