MYRG vs PWR: Which Is the Better Buy in 2026?

Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: MYRG is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. MYRG and PWR share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined MYRG and PWR exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

MYR Group Inc. is a holding company for specialty electrical construction firms operating through two segments: Transmission & Distribution (T&D), which builds high-voltage transmission lines, substations, and distribution networks for utilities, and Commercial & Industrial (C&I), which handles electrical work for data centers, transportation, healthcare, manufacturing, and clean-energy facilities. Founded over a century ago and headquartered in the Denver area, the company employs roughly 9,000 people, a large skilled and union workforce, and competes on execution, safety, and utility relationships rather than proprietary technology.

Full MYRG guide

Quanta Services is the largest specialty contractor for electric power, oil and gas pipeline, and communications infrastructure in North America. The company designs and constructs the physical infrastructure that delivers electricity from generation to customers: transmission lines, distribution networks, substations, and increasingly renewable energy interconnections. Quanta also has a meaningful underground utility infrastructure business (water, sewer, gas pipelines) and a communications infrastructure business (broadband, fiber).

Full PWR guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• MYRG drivers: Grid modernization and electrification spending; Data centers and clean-energy demand in C&I.
• PWR drivers: Grid investment and AI data center load; Renewable energy interconnection.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: As a project-based contractor, MYRG faces execution risk: fixed-price contracts, cost overruns, weather delays, and unfavorable change orders can compress margins in any given quarter, and margins are historically lumpy. For PWR, utility regulatory cycles affect transmission and distribution capex pace.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick MYRG if you believe its drivers more; PWR if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the MYRG and PWR guides.

MYRG. MYRG's multiple has compressed as earnings rose and the share price fell back: the trailing P/E is now about 27x, down from about 40x in July, and about 19x on next year's consensus EPS of roughly $14.58. Analysts expect Q3 2026 EPS of about $3.00 on ~$1.15 billion of revenue when the company reports on October 28, 2026. Figures are approximate and change with each report.

PWR. Quanta trades at a premium reflecting the grid investment tailwind, the AI data center load growth narrative, and the structural labor moat. At about 32 times forward earnings and about 2.9 times sales, the October 2026 valuation assumes revenue keeps compounding toward the ~$45.8 billion analysts expect for 2027; the third-quarter report on October 29, 2026 (consensus EPS ~$5.00) is the next check on that path.

Headline figures (approximate, October 2026): MYRG shows revenue (ttm) ~$4.0B; Q2 2026 ~$1.08B, up ~20% year over year, margins (ttm) ~12.5% gross, ~6.2% operating, ~4.1% net, net income / eps (ttm) ~$165M, ~$10.53 per share, q2 2026 eps ~$3.17 vs ~$2.64 expected; PWR shows revenue (ttm) ~$32.9 billion; Q2 2026 revenue ~$9.56 billion, up ~41% year over year, margins (ttm) Gross ~15.5%, operating ~7.2%, net ~4.0% (cyclical and labor-intensive), net income / eps (ttm) ~$1.33 billion; GAAP EPS ~$8.73; Q2 2026 adjusted EPS $4.24 vs $3.31 consensus, p/e ~72x trailing GAAP, ~32x forward.

MYRG and PWR are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined MYRG and PWR exposure against your real portfolio. It is not an investment adviser.