Análisis de la Matriz ANSOFF de MYR Group Inc. (MYRG) [Actualizado en enero de 2025]

En el panorama dinámico de la infraestructura eléctrica y la construcción, Myr Group Inc. se encuentra en la encrucijada de la transformación estratégica, preparado para redefinir su posicionamiento del mercado a través de una matriz Ansoff meticulosamente elaborada. Al navegar estratégicamente por la penetración del mercado, el desarrollo, la innovación de productos y la diversificación, la compañía desbloquea oportunidades de crecimiento sin precedentes en servicios públicos, energía renovable y sectores tecnológicos emergentes. Esta hoja de ruta estratégica no solo promete expandir la huella de la compañía, sino que también posiciona a Myr Group como un líder visionario en un ecosistema industrial cada vez más complejo y en evolución.

Myr Group Inc. (MYRG) - Ansoff Matrix: Penetración del mercado

Expandir las ofertas de servicios dentro de los mercados existentes de infraestructura eléctrica y construcción

Myr Group Inc. reportó ingresos totales de $ 2.47 mil millones en 2022, con servicios de infraestructura eléctrica que representan el 64% de los ingresos totales. La compañía opera a través de dos segmentos principales: comercial & Industrial (C&I) y transmisión & Distribución (T&D).

Segmento	2022 Ingresos	Cuota de mercado
Comercial & Industrial	$ 1.26 mil millones	51%
Transmisión & Distribución	$ 1.21 mil millones	49%

Aumentar los esfuerzos de marketing dirigidos a los sectores de servicios públicos y energía renovable

En 2022, Myr Group invirtió $ 12.5 millones en iniciativas de marketing estratégico dirigidos a mercados de energía renovable.

• La acumulación de proyectos de energía renovable aumentó en un 22% en 2022
• Los proyectos de infraestructura solar y eólica crecieron un 18% año tras año
• La asignación de presupuesto de marketing dirigido aumentó en un 15%

Implementar estrategias de licitación agresivas para ganar más contratos regionales y nacionales

Myr Group presentó 327 ofertas competitivas en 2022, con una tasa de ganancia del 42%. El valor total del contrato de las ofertas ganadas alcanzó los $ 1.85 mil millones.

Categoría de oferta	Número de ofertas	Tasa de ganancia	Valor de contrato
Contratos regionales	214	38%	$ 1.1 mil millones
Contratos nacionales	113	48%	$ 750 millones

Mejorar la eficiencia operativa para proporcionar precios más competitivos

Myr Group logró una reducción de costos operativos del 7.3% en 2022, lo que permite estrategias de precios más competitivas.

• La relación de gastos operativos disminuyó de 18.2% a 16.9%
• Inversión tecnológica en eficiencia operativa: $ 8.3 millones
• La productividad laboral aumentó en un 6.5%

Desarrollar relaciones más fuertes con los servicios públicos actuales y los clientes industriales

Myr Group mantuvo una tasa de retención de clientes del 92% en 2022, con 78 servicios públicos e industriales a largo plazo.

Categoría de cliente	Número de clientes	Duración promedio del contrato	Repita la tarifa comercial
Clientes de servicios públicos	45	4.7 años	95%
Clientes industriales	33	3.9 años	88%

Myr Group Inc. (MYRG) - Ansoff Matrix: Desarrollo del mercado

Mercados emergentes de energía renovable emergente

En 2022, el mercado de energía renovable de EE. UU. Alcanzó $ 269.5 mil millones, con inversiones de infraestructura solar y eólica por un total de $ 87.3 mil millones. Los proyectos de infraestructura de energía renovable de Myr Group aumentaron un 42% año tras año.

Segmento de mercado	Valor de inversión	Índice de crecimiento
Infraestructura solar	$ 53.6 mil millones	37%
Infraestructura de energía eólica	$ 33.7 mil millones	45%

Expandir la presencia geográfica

Myr Group actualmente opera en 48 estados, con expansión planificada en 5 regiones desatendidas en el suroeste y el medio oeste.

• Estados de expansión dirigidos: Nuevo México, Wyoming, Montana, Dakota del Norte, Dakota del Sur
• Inversión de infraestructura proyectada: $ 127 millones
• Penetración de mercado esperada: 18% en 24 meses

Desarrollar paquetes de servicio especializados

El mercado de infraestructura eléctrica del centro de datos proyectado para llegar a $ 42.6 mil millones para 2025. Los servicios especializados de Myr Group se dirigen a este segmento creciente.

Categoría de servicio	Potencial de mercado	Ingresos proyectados
Infraestructura eléctrica del centro de datos	$ 12.3 mil millones	$ 89.5 millones

Asociaciones estratégicas con compañías de servicios públicos

Myr Group identificó 37 compañías de servicios públicos regionales para posibles asociaciones en territorios inexplorados.

• Regiones de asociación potencial: Mountain West, Pacific Northwest
• Valor de asociación estimado: $ 215 millones

Mercados de construcción de infraestructura adyacentes

La experiencia existente de Myr Group los posiciona para ingresar a los mercados adyacentes con un potencial estimado de $ 673 millones.

Mercado adyacente	Tamaño del mercado	Potencial de entrada
Infraestructura de telecomunicaciones	$ 287 millones	$ 92 millones
Infraestructura de transporte	$ 386 millones	$ 124 millones

Myr Group Inc. (MyRG) - Ansoff Matrix: Desarrollo de productos

Invierte en tecnologías avanzadas de modernización de la red eléctrica

Myr Group Inc. invirtió $ 23.4 millones en tecnologías de modernización de la red en 2022. La compañía informó un aumento del 17.6% en los proyectos de actualización de la infraestructura eléctrica durante el año fiscal.

Inversión tecnológica	Cantidad	Año
R&D de modernización de la cuadrícula	$ 23.4 millones	2022
Desarrollo de tecnología de cuadrícula inteligente	$ 15.7 millones	2022

Desarrollar servicios especializados para proyectos emergentes de infraestructura de energía limpia

Myr Group obtuvo $ 127.5 millones en contratos de infraestructura de energía limpia en 2022, lo que representa un crecimiento del 22.3% del año anterior.

• Proyectos de infraestructura solar: $ 42.3 millones
• Infraestructura de energía eólica: $ 55.2 millones
• Sistemas de almacenamiento de baterías: $ 30 millones

Crear innovadoras soluciones de integración de sistemas eléctricos para tecnologías de cuadrícula inteligente

La compañía desarrolló 14 nuevas soluciones de integración de cuadrícula inteligente en 2022, con un valor de mercado estimado de $ 38.6 millones.

Solución de cuadrícula inteligente	Costo de desarrollo	Valor de mercado potencial
Sistemas de monitoreo avanzado	$ 5.2 millones	$ 12.7 millones
Gestión de la red predictiva	$ 4.8 millones	$ 11.3 millones

Mejorar la monitorización digital y las ofertas de servicios de mantenimiento predictivo

MYR Group aumentó los ingresos del servicio de monitoreo digital en un 26.4%, llegando a $ 47.3 millones en 2022.

• Desarrollo de software de mantenimiento predictivo: $ 8.6 millones
• Integración de tecnología del sensor: $ 12.4 millones
• Sistemas de monitoreo en tiempo real: $ 26.3 millones

Desarrollar soluciones de ingeniería eléctrica personalizadas para proyectos industriales complejos

La compañía completó 37 proyectos complejos de ingeniería eléctrica industrial en 2022, generando $ 89.7 millones en ingresos de proyectos especializados.

Sector industrial	Número de proyectos	Ingresos del proyecto
Fabricación	15	$ 36.5 millones
Producción de energía	12	$ 29.2 millones
Infraestructura	10	$ 24 millones

Myr Group Inc. (MyRG) - Ansoff Matrix: Diversificación

Explorar oportunidades en el desarrollo de la infraestructura de telecomunicaciones

Myr Group Inc. reportó ingresos por infraestructura de telecomunicaciones de $ 81.4 millones en 2022. El segmento de telecomunicaciones representaba el 12.7% de los ingresos totales de la compañía.

Métricas de infraestructura de telecomunicaciones	Datos 2022
Ingresos totales	$ 81.4 millones
Porcentaje de segmento	12.7%
Crecimiento año tras año	8.3%

Investigar posibles inversiones en infraestructura de carga de vehículos eléctricos

La potencial inversión de infraestructura EV de Myr Group se alinea con proyecciones de mercado de $ 103.7 mil millones de mercado global de carga global para 2028.

• Se espera que el mercado global de carga EV alcance los $ 103.7 mil millones para 2028
• CAGR proyectado del 32.1% en la infraestructura de carga EV
• El mercado norteamericano se estima en $ 27.4 mil millones para 2026

Considere la expansión internacional en los mercados de servicios públicos canadienses y mexicanos

Potencial de mercado internacional	Tamaño del mercado
Mercado de servicios públicos canadienses	$ 38.6 mil millones
Mercado de servicios públicos mexicanos	$ 24.3 mil millones

Desarrollar servicios de consultoría para transición energética y transformación de la red

Energy Transition Consulting Market proyectado para llegar a $ 14.2 mil millones a nivel mundial para 2025.

• Tasa de crecimiento del mercado de consultoría de transformación de la cuadrícula: 15.6%
• Oportunidad de ingresos potenciales: $ 3.7 millones en primer año

Investigar la integración vertical potencial a través de tecnología o fabricación de equipos

Métricas de inversión de fabricación	Valor proyectado
Inversión de fabricación inicial	$ 22.5 millones
Ingresos anuales potenciales	$ 47.6 millones
Retorno de inversión estimado	18.3%

MYR Group Inc. (MYRG) - Ansoff Matrix: Market Penetration

You're looking at how MYR Group Inc. can sell more of its existing services into the markets it already serves. This is about deepening relationships and taking more share from competitors in the core business.

Focusing on the Transmission and Distribution (T&D) utility customer base means securing a larger piece of the existing pie. As of September 30, 2025, the T&D backlog stood at $929.0 million. Work performed under Master Service Agreements (MSAs) already represented approximately 60% of T&D revenue in the second quarter of 2025. Increasing the volume of these MSAs is a direct path to capturing more of that existing work.

The Commercial and Industrial (C&I) segment saw a significant revenue jump in the third quarter of 2025, increasing by $40.8 million compared to the third quarter of 2024, with total C&I revenues reaching $447.0 million. Prioritizing bids on high-margin C&I projects, such as the $90 million data center project secured in Colorado mentioned for Q1 2025 growth, directly builds on this momentum.

Operational efficiency improvements are key to boosting profitability within the C&I segment. The C&I operating income margin reached 4.7% in the first quarter of 2025, which was an improvement over the 3.5% margin reported in the first quarter of 2024. By the second quarter of 2025, this margin had further increased to 5.6%.

Here's a quick look at some of the recent segment performance metrics to frame the market penetration opportunity:

Metric	Segment	Period End	Value
Revenue	C&I	Q3 2025	$447.0 million
Revenue Increase (YoY)	C&I	Q3 2025	$40.8 million
Operating Income Margin	C&I	Q1 2025	4.7%
Operating Income Margin	C&I	Q2 2025	5.6%
T&D Backlog	T&D	Q3 2025	$929.0 million
Distribution Revenue Increase (YoY)	T&D	Q3 2025	$5.2 million

Aggressive pricing on distribution projects targets competitors directly where revenue is already showing upward movement. For instance, in the third quarter of 2025, T&D revenue increased by $21.5 million year-over-year, with distribution projects contributing $5.2 million of that increase. This compares to a $25.1 million increase in distribution revenues seen in the second quarter of 2025. Offering C&I services to existing T&D utility clients for their non-utility facilities is a clear cross-selling play, leveraging established trust to enter adjacent commercial spaces.

• Secure more of the $929.0 million T&D backlog via increased MSA volume.
• Build on the $40.8 million Q3 2025 C&I revenue increase by prioritizing data center bids.
• Target C&I operating income margin improvement from the 4.7% achieved in Q1 2025.
• Leverage distribution revenue increases, such as the $5.2 million growth in Q3 2025, against competitors.

Finance: draft 13-week cash view by Friday.

MYR Group Inc. (MYRG) - Ansoff Matrix: Market Development

You're looking at how MYR Group Inc. (MYRG) can push its existing services into new geographical areas or new customer types. This is Market Development, and given the backdrop of massive infrastructure spending, the timing is key.

Expand the geographic footprint within the US, targeting states with high infrastructure spending forecasts for grid modernization.

The overall US infrastructure investment need between 2024 and 2033 is estimated at $9.1 trillion, with the energy segment getting a D+ grade in the 2025 Report Card, signaling huge work ahead. Specifically, grid modernization, covering transmission and distribution, is projected to require nearly $1.9 trillion through 2033. Also, between 2025 and 2030, the energy sector faces an investment requirement of approximately $1.4 trillion. The federal government has already allocated $65 billion via programs like the Infrastructure Investment and Jobs Act (IIJA) for power infrastructure, including $21.5 billion for the grid. For Q3 2025, MYR Group Inc.'s Transmission and Distribution (T&D) segment brought in $503.4 million in revenue, showing the current scale of work in established territories. States seeing the most grid modernization action as of Q2 2025 include Texas, California, Colorado, Connecticut, Massachusetts, and Michigan. The US transmission system itself is expected to double in size between 2020 and 2050.

Leverage the strong balance sheet to pursue strategic acquisitions that immediately establish a presence in new US utility service territories.

MYR Group Inc.'s scale, evidenced by its trailing twelve-month revenue ending September 30, 2025, of $3.51 Billion USD, provides the financial muscle for acquisitions. The company's total backlog stood at $2.66 billion as of the third quarter of 2025. While specific 2025 acquisition targets aren't public, past activity shows the playbook; for instance, the acquisition of Powerline Plus Companies, which had average annual revenues of approximately $80 million over the two years prior to its January 4, 2022, close, immediately broadened the revenue base. A strong balance sheet allows MYR Group Inc. to deploy capital against smaller, strategic targets to secure immediate entry into utility service territories where organic bidding might take longer to establish a foothold.

Systematically grow the Canadian market presence beyond the existing Powerline Plus base to capture more northern utility and industrial work.

MYR Group Inc.'s Canadian presence is anchored by the Powerline Plus Companies, which previously generated average annual revenues of about $80 million. The Midcontinent Independent System Operator (MISO) region, which includes Manitoba, Canada, shows the scale of the northern market, with MISO managing nearly 79,000 miles of high-voltage transmission across its footprint. To systematically grow beyond the established base, MYR Group Inc. needs to target utility and industrial work in provinces adjacent to or within the MISO footprint, leveraging the design skills and civil solutions brought by the Powerline Plus acquisition. The company's Commercial and Industrial (C&I) segment posted revenues of $447.0 million in Q3 2025, which represents the pool of industrial work that could be expanded north of the border.

Target new customer verticals within the existing C&I segment, specifically focusing on large-scale transportation and airport projects.

The Commercial and Industrial (C&I) segment is a clear avenue for Market Development, having generated $447.0 million in revenue for the third quarter of 2025. Targeting large-scale transportation and airport projects means focusing on infrastructure that requires significant electrical installation, maintenance, and repair services, which are core competencies for MYR Group Inc. subsidiaries. For context, data center electricity consumption alone is projected to be between 224 TWh and over 300 TWh in 2025, indicating the scale of power demand in large, modern facilities that can serve as a proxy for the complexity of new transportation hubs. The C&I segment's backlog at the end of Q1 2025 was $1.77 billion, showing substantial existing work to leverage for these new vertical pursuits.

Bid on multi-billion-dollar transmission projects approved by regional transmission organizations like PJM Interconnection and MISO.

The opportunity in bidding on large regional transmission organization (RTO) projects is substantial. For PJM Interconnection, proposals considered in the 2024 Regional Transmission Expansion Plan (RTEP) Window 1 totaled $5.8 billion in projects being considered to meet reliability needs, with board approval targeted for the first quarter of 2025. PJM itself is responsible for planning over 88,000 miles of transmission lines. MISO, which manages the largest region by geographical scope in North America, has nearly 79,000 miles of high-voltage transmission under its functional control. MYR Group Inc.'s T&D segment revenue for Q3 2025 was $503.4 million, and transmission projects specifically contributed $16.3 million in revenue growth year-over-year for that quarter, demonstrating direct participation in this market. Securing even a fraction of the multi-billion-dollar packages put out by these RTOs represents a significant market development win.

Metric	Value (2025 Data)	Source Context
Trailing Twelve Month Revenue (TTM)	$3.51 Billion USD	As of September 30, 2025
Q3 2025 T&D Segment Revenue	$503.4 million	Quarterly revenue
Q3 2025 C&I Segment Revenue	$447.0 million	Quarterly revenue
Total Backlog	$2.66 billion	As of Q3 2025
Estimated US Grid Modernization Need (through 2033)	Nearly $1.9 trillion	Long-term investment projection
US Energy Infrastructure Investment Need (2025-2030)	Approximately $1.4 trillion	Mid-term investment projection
PJM RTEP Window 1 Projects Considered	$5.8 billion	2024 plan for 2025 approval
Powerline Plus Pre-Acquisition Avg. Annual Revenue	Approximately $80 million	Historical baseline for Canadian expansion

• Grid modernization investment is projected to require nearly $1.9 trillion through 2033.
• The US transmission system is expected to double in size between 2020 and 2050.
• The Department of Energy awarded $1.5 billion for projects adding 7.1 GW capacity.
• PJM manages over 88,000 miles of transmission lines.
• MISO serves approximately 45 million people across 15 U.S. States and one Canadian province.
• C&I segment backlog at the end of Q1 2025 was $1.77 billion.

MYR Group Inc. (MYRG) - Ansoff Matrix: Product Development

You're looking at how MYR Group Inc. can build new offerings on top of its existing business foundation. This is about developing new services for the markets MYR Group Inc. already serves, like its existing Commercial and Industrial (C&I) clients or its Transmission and Distribution (T&D) utility partners.

Here's a look at the financial backdrop for these product development moves, based on the latest reported figures for the third quarter of 2025:

Metric	Q3 2025 Value	Nine Months 2025 Value
Consolidated Revenue	$950.4 million	$2.68 billion
T&D Segment Revenue (Q3)	$503.4 million	T&D Revenue Share: 54.8%
C&I Segment Revenue (Q3)	$447.0 million	C&I Revenue Share: 45.2%
Consolidated Backlog	$2.66 billion	Q3 2025 Net Income: $32.1 million

The Product Development quadrant focuses on creating new services to sell to these established customer bases. You're aiming to increase the value captured per client relationship.

Develop and market specialized services for electric vehicle (EV) charging infrastructure and fleet electrification for existing C&I clients.

• The C&I segment brought in $447.0 million in revenue in Q3 2025.
• This new service layer targets existing C&I customers who already require complex electrical work for facilities like data centers and manufacturing plants.
• The goal is to move beyond standard wiring to offer end-to-end EV charging solutions, from site assessment to final commissioning.

Offer advanced grid hardening and resiliency consulting services to utilities to capitalize on the need for resilient infrastructure.

• The T&D segment, which serves utilities, posted Q3 2025 revenues of $503.4 million.
• This capitalizes on the stated need for resilient infrastructure driving investment across the sector.
• Consulting services represent a higher-margin offering than pure construction work.

Form a dedicated clean energy division to capture more utility-scale solar and energy storage interconnection work, offsetting the Q1 2025 transmission revenue decrease.

• In the first quarter of 2025, T&D revenues were $462 million, representing a 5.8% decrease year-over-year.
• A dedicated division signals a strategic shift to capture more of the clean energy project work already present in the T&D segment's scope.
• The overall backlog entering Q3 2025 stood at $2.66 billion, providing a base for new, specialized clean energy contracts.

Invest in proprietary technology for automated project management and predictive maintenance to offer a premium, high-tech service layer.

• This investment aims to directly improve operational efficiency, building on the Q3 2025 gross margin improvement to 11.8% from 8.7% the prior year.
• A premium service layer allows for higher pricing tiers for clients willing to pay for guaranteed uptime or faster project completion.
• The company achieved record quarterly EBITDA of $62.7 million in Q3 2025, which can fund this internal technology development.

Introduce a full-service design-build offering for substations to capture a larger scope of work from current T&D customers.

• Substation work is a core component of the T&D segment, which generated $503.4 million in Q3 2025.
• Moving from construction-only to design-build captures the higher-margin engineering and design fees upfront.
• This strategy directly supports the goal of enhancing shareholder value through improved profitability.

Finance: draft a sensitivity analysis on the impact of a 10% margin increase on the $2.66 billion backlog by Friday.

MYR Group Inc. (MYRG) - Ansoff Matrix: Diversification

Acquire a specialty contractor in a non-electrical, but adjacent, infrastructure sector like water and wastewater treatment facilities.

The U.S. water and wastewater treatment market size is calculated at USD 68.54 billion in 2025, forecasted to reach around USD 123.76 billion by 2034, expanding at a CAGR of 6.80% from 2025 to 2034. The Environmental Protection Agency (EPA) predicts that drinking water and wastewater treatment infrastructure needs will exceed $744 billion for construction, repairs and expansions over the next 20 years. In 2023, the U.S. market for only drinking water treatment and wastewater systems was estimated to be $4.93 billion. The Bipartisan Infrastructure Law allocated more than $50 billion for water infrastructure of all kinds between 2022 and 2026.

Enter the fiber optic and broadband infrastructure construction market, leveraging existing trenching and utility corridor access.

The U.S. fiber-optic cable market was valued at USD 2.9 billion in 2024, set to grow at a CAGR of 8.3% during 2025-2032, to reach USD 5.3 billion in 2032. The U.S. optic fiber market reached USD 3.1 Billion in 2024 and is expected to reach USD 7.8 Billion by 2033, exhibiting a CAGR of 10.8% during 2025-2033. The U.S. governments Infrastructure Investment and Jobs Act allocated over $65 billion for broadband access by 2024, with a large portion for fiber optic installations. The Broadband Equity, Access, and Deployment (BEAD) program is a factor in this acceleration. As of 2024, fiber optic networks occupied approximately 52% of homes and businesses in the US. In 2023 alone, nine million new fiber installations marked a 13% increase.

Pursue international expansion outside of North America, perhaps targeting a stable European market with high renewable energy investment.

The Europe Renewable Energy Market size reached USD 381.45 billion in 2024, with a projected reach of US$ 1,237.51 billion by 2033, at a CAGR of 13.97% from 2025 to 2033. Another estimate shows the market size reached USD 241.9 Billion in 2024, projected to reach USD 445.0 Billion by 2033, at a CAGR of 7.01% during 2025-2033. The EU targets 42.5% gross final energy consumption from renewables by 2030. Annual spending on EU grids is set to exceed USD 70 billion in 2025. In 2024, renewables generated 50% of electricity used in the EU, with the investment ratio of renewable generation to unabated fossil fuel power at 35:1.

Acquire a firm specializing in industrial process piping or mechanical services to broaden the C&I offering beyond electrical work.

The U.S. Process Piping Market Size was estimated at 139.9 USD Billion in 2024, projected to grow to 223.06 USD Billion by 2035, exhibiting a CAGR of 4.33% during 2025 - 2035. North America holds the largest market share for process piping at approximately 40%. The United States MEP (Mechanical, Electrical, and Plumbing) services market size stands at USD 32.55 billion in 2025. Within the mechanical services market in 2024, Healthcare accounted for 29.1% of the size, while Data centers are rising at an 8.2% CAGR.

Establish a new business unit focused on providing long-term maintenance contracts for large-scale industrial facilities, a new recurring revenue model.

MYR Group Inc. reported total backlog as of September 30, 2025, of $2.66 billion. The Commercial & Industrial (C&I) segment backlog as of September 30, 2025, was $1.73 billion. For the first nine months of 2025, C&I segment revenues were $1.21 billion, an increase of $110.9 million from the first nine months of 2024. The C&I segment operating income margin rose to 4.7% in Q1 2025, up from 3.5% a year ago. MYR Group reported full-year 2024 EBITDA of $117.8 million and a full-year 2024 revenue of $3.36 billion, compared to $3.64 billion in 2023. For the last twelve months ending June 30, 2025, MYR Group achieved total revenue of $3.45 billion.

Metric	MYRG Current (LTM Q3 2025)	Market Data Point	Value
Total Revenue	$3.51 Billion (TTM 2025)	U.S. Water & Wastewater Market Size (2025)	USD 68.54 billion
C&I Revenue (9M 2025)	$1.21 billion	Europe Renewable Energy Market Size (2024)	USD 381.45 billion
Total Backlog (Sep 30, 2025)	$2.66 billion	U.S. Process Piping Market Size (2024)	139.9 USD Billion
Q2 2025 Net Income	$26.5 million	U.S. Fiber Optic Market CAGR (2025-2033)	10.8%

• T&D Segment Revenue (FY 2024): $1.88 billion.
• C&I Segment Revenue (FY 2024): $1.48 billion.
• Q1 2025 Gross Margin: 11.6%.
• Q1 2025 EPS: $1.45.
• T&D Operating Margin Target (2025): 7%-10.5%.
• C&I Operating Margin Target (2025): 4%-6%.