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Dycom Industries Inc (DY) stock

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NYSE: DY NYSE Construction & Engineering Next results ~November 25, 2026

C+ Fundamentals grade

Dycom Industries Inc is a US-listed company in the construction & engineering industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$140

Cash-flow model

Base case. Range ~$89–$220 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 35% below it.

Price used: $221.05, November 2, 2026

Dycom Industries Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 1 selling3 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds335 adding, 258 cuttingOf 71 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Dycom Industries files

Where Dycom Industries stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $6.88bn, up 37.8% on a year earlier, faster than 29.8% a quarter earlier. That growth ranks 67 of 931 among all the companies we cover. Free-cash-flow margin rose to 6.8% from 2.5% a year earlier. The diluted share count is up 2.1% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks. Our cash-flow model value is $138 a share, against a share price of $253. At that price, our model says the market is pricing in about 20.7% a year of cash-flow growth for five years, faster than the 17.1% a year revenue growth it has delivered.

Source: 10-Q filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 25, 2026 (estimated)

Dycom Industries Inc's trailing-twelve-month revenue grew 37.8% year on year, with a free-cash-flow margin of 6.8%. Where it stands out: revenue growth of 37.8% ranks 9 of 43 construction & engineering companies we cover. Where it lags: days sales outstanding of 121 days ranks 25 of 27 construction & engineering companies we cover.

Our discounted-cash-flow model values the business at ~$140 per share in the base case (~$89–$220 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 280.3% while net income grew 26.3%: a 254pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 37.8% over the last 12 months, against a median of 21.2% for construction & engineering companies we cover.
  • Growth speeding up. The growth rate is 8.0 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $221.05 is 35% above our value per share of $140.
  • Share dilution. Diluted shares rose 2.1% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 54% and a beta of 1.8 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 121 days ranks 25 of 27 construction & engineering companies we cover (median 67 days).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 42.7% ranks 32 of 35 construction & engineering companies we cover (median 16.2%).

Latest results: FY2027 Q2

Filed August 27, 2026
Earnings per share
$5.29 against an average estimate of $4.72: beat by 12.2%
Revenue
$2.01bn, up 45.6% on a year earlier
Share reaction
-12.4% in the first session after the results on August 26, 2026, against +0.7% for the S&P 500
Guidance given
contract revenues $7.48bn to $7.66bn (Fiscal Year Ending January 30, 2027); contract revenues $5.9bn to $6.01bn (Fiscal Year Ending January 30, 2027)
Next report
November 25, 2026; average EPS estimate $4.53

Dycom Industries' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.9%
  • 1 week-3.3%
  • 1 month-19.3%
  • This year-34.6%
  • 1 year-23.2%
  • 5 years+172.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$6.9B
Net margin
4.8%
EPS (TTM, diluted)
$10.99

Growth

Revenue growth
+37.8%
Change in growth rate
+8.0 pts
Share count change
+2.1%

Cash

Free cash flow (TTM)
$469M
FCF margin
6.8%
Stock pay % of revenue
0.5%

Earnings

Last results
August 26, 2026
Next results (est.)
November 25, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Leadership
  4. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Dycom Industries Inc valuation models and calculator

What the price is pricing in

The share price implies about 19.2% a year of cash-flow growth for five years.That is close to the 17.1% a year revenue growth Dycom Industries has delivered.

  • Priced in19.2%
  • Last 12 months37.8%
  • 3 years a year19.4%
  • 5 years a year17.1%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($227.40, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$140
Price used
$227.40close November 3, 2026
Implied change
▼ 36%
Uncertainty
High

How we got here: a discounted-cash-flow model of Dycom Industries Inc's free cash flow after stock-based pay with after-tax interest added back ($215M, FY2027 Q2 TTM), growing 16.2% and 13% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$89–~$220 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Dycom Industries Inc's free cash flow after stock-based pay ( $215M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Dycom Industries Inc as an operating company, with every model that fits that kind of business. Cost of equity 10.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.25 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$140 ~$89–$220 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$88 ~$37–$130 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$300 ~$270–$410 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$180 ~$130–$260 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$150 ~$130–$170 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$170 ~$88–$300 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Dycom Industries Inc with Construction & Engineering in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +34%
  • Free-cash-flow margin 1 point lower ▼ −17%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −18%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $21$58$106$171$254$363
8.5% —$23$58$104$164$241
10% —$3$30$65$110$169

Valuation multiples over time Market data may be delayed

At fiscal year end 2017201820192020202120222023202420252026Now
Share price$94.05$90.30$59.18$44.51$81.14$84.53$92.73$115.18$192.84$364.39$221.05
Market value$3.1bn$2.9bn$1.9bn$1.4bn$2.6bn$2.6bn$2.8bn$3.4bn$5.7bn$10.7bn$6.6bn
+ Net debt (− = net cash)$0$0−$128m−$55m−$12m−$311m−$224m−$101m−$93m−$709m$2.5bn
Enterprise value$3.1bn$2.9bn$1.8bn$1.4bn$2.6bn$2.3bn$2.6bn$3.3bn$5.6bn$10.0bn$9.1bn
Multiples
Price / sales 1.2x0.9x0.6x0.4x0.8x0.8x0.7x0.8x1.2x1.9x1.0x
Price / earnings 24.2x18.4x30.1x24.8x75.8x53.7x19.6x15.6x24.4x38.1x20.1x
Price / free cash flow 34.7x52.3x——8.0x17.2x—84.5x57.6x26.7x14.1x
EV / EBITDA ———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

44 /100

Weak moat

How hard Dycom Industries's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Net income has been a median 5.5% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 18.1%, moving by 2.1 percentage points (standard deviation) across 9 years.

  • Durability 2 / 20

    Net margin has been a median 4.3%; its worst year was 0.5%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 8 of 10 years, at a median 1.4% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 5.4% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 25, 2026, before the open. Analysts expect revenue of $1.9bn and EPS of $4.53 (range $4.36 to $4.67) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $17.00 +42% $7.6bn +37%
Next $20.74 +22% $8.6bn +13%

Next year's EPS estimate has moved +4.0% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.6% on 90 days ago. In the last 30 days, 3 analysts raised Dycom Industries Inc's forecast and 0 cut it.

Consensus EPS forecast Dycom Industries Inc, last 90 days
$16.00 $18.00 $20.00 $22.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $16.56 Current fiscal year, 60 days ago: $17.05 Current fiscal year, 30 days ago: $17.05 Current fiscal year, 7 days ago: $17.06 Current fiscal year, Now: $17.00 $17.00 Next fiscal year, 90 days ago: $19.95 Next fiscal year, 60 days ago: $20.67 Next fiscal year, 30 days ago: $20.78 Next fiscal year, 7 days ago: $20.78 Next fiscal year, Now: $20.74 $20.74

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $16.56$19.95
60 days ago $17.05$20.67
30 days ago $17.05$20.78
7 days ago $17.06$20.78
Now $17.00$20.74

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $4.72 $5.29 +12.2%
Apr 2026 $2.72 $4.42 +62.5%
Jan 2026 $1.78 $2.03 +14.0%
Oct 2025 $3.21 $3.63 +13.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 26, 2026
  • Contract revenues Fiscal Year Ending January 30, 2027 $7.48bn to $7.66bn GAAP Raised
    “Contract revenues $7.48 billion to $7.66 billion” source
  • Contract revenues Quarter Ending October 31, 2026 $1.9bn to $1.98bn GAAP
    “Contract revenues $1.90 billion to $1.98 billion” source
  • Non-GAAP Adjusted Diluted EPS (excluding amortization expense) Quarter Ending October 31, 2026 $4.33 to $4.79 Non-GAAP
    “Non-GAAP Adjusted Diluted EPS (excluding amortization expense) $4.33 to $4.79” source
  • Contract revenues · Communications Fiscal Year Ending January 30, 2027 $5.9bn to $6.01bn GAAP
    “Communications $5.90 billion to $6.01 billion” source
  • Contract revenues · Building Systems Fiscal Year Ending January 30, 2027 $1.58bn to $1.65bn GAAP Raised
    “Building Systems $1.58 billion to $1.65 billion” source
  • Non-GAAP Adjusted EBITDA Quarter Ending October 31, 2026 $281m to $302m Non-GAAP
    “Non-GAAP Adjusted EBITDA $281 million to $302 million” source

How earlier guidance turned out

  • Contract revenues, second quarter of fiscal 2027 guided $1.94bn to $2.01bn Within range: $2.005907bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Dycom Industries Inc's revenue by +16.2% next year and +13.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+17.5%, weight 52%) , management guidance (+17.2%, weight 21%) and the company's own record (+13.0%, weight 28%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy1192%
Hold18%
Sell00%

Monthly trend

  1. Oct 2026110112
  2. Sep 202611011
  3. Aug 202611011
  4. Jul 202611011

Counts of recommendations published by analysts covering Dycom Industries Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.4%
of tradable shares
Days to cover
2.01
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
1.3%
of shares
Employees
19,556
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −23.2%

$287.79 on October 31, 2025 to $221.05

ThenNowEffect
Revenue (last 12 months) $5.0bn $6.9bn +37.8%
Net margin 5.2% 4.8% −8.4%
P/E multiple 32.4x 20.1x −37.9%
Share count 29m 30m −2.1%

Biggest factor: p/e multiple.

Last 3 years +161.9%

$84.40 on November 3, 2023 to $221.05

ThenNowEffect
Revenue (last 12 months) $4.0bn $6.9bn +70.0%
Net margin 4.7% 4.8% +1.7%
P/E multiple 13.2x 20.1x +52.2%
Share count 30m 30m −0.5%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
DY+24%−0%+23%+51%+94%−35%
Industry peers (median)+41%−8%+46%+47%+25%+0%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
DY58%58%58%50%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
DY−37%−29%−29%−17%−32%−59%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 89% from February 1, 2018 to March 18, 2020. Getting back needed a 810% gain, reached on February 28, 2024, 1442 days after the low.

Price behaviour

52-week range
$221.05 – $535.20
From 52-week high
−58.7%
vs 50-day average
−19.7%
vs 200-day average
−41.6%
Volatility (1 year)
54%
Beta vs S&P 500
1.75

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±11.4%
After a week
6 up, 6 down
typical move ±13.5%
After a month
7 up, 5 down
typical move ±14.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 26, 2026 −12.4% +0.7% −15.6% −22.8%
May 27, 2026 +27.3% +0.5% +15.1% +16.1%
March 4, 2026 −8.3% +0.1% −9.1% −13.7%
November 19, 2025 +9.2% −1.1% +19.8% +16.3%
August 20, 2025 −2.7% −0.7% −5.2% 0.0%
May 21, 2025 +15.8% −1.6% +17.9% +21.7%
February 26, 2025 −5.7% −1.5% −10.5% −10.4%
November 20, 2024 −9.6% +0.6% −10.9% −14.3%
August 21, 2024 −9.5% −0.4% −12.4% +0.8%
May 22, 2024 +14.8% −1.0% +19.4% +7.8%
February 28, 2024 +3.2% +0.2% +9.8% +17.1%
November 21, 2023 +17.9% +0.2% +16.1% +31.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Dycom Industries Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Dycom Industries Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Dycom Industries Inc
$4B $5B $6B $7B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $4.1B Revenue (TTM), FY24 Q4: $4.2B Revenue (TTM), FY25 Q1: $4.3B Revenue (TTM), FY25 Q2: $4.4B Revenue (TTM), FY25 Q3: $4.6B Revenue (TTM), FY25 Q4: $4.7B Revenue (TTM), FY26 Q1: $4.8B Revenue (TTM), FY26 Q2: $5B Revenue (TTM), FY26 Q3: $5.2B Revenue (TTM), FY26 Q4: $5.5B Revenue (TTM), FY27 Q1: $6.3B Revenue (TTM), FY27 Q2: $6.9B $6.9B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $4.1B
FY24 Q4 $4.2B
FY25 Q1 $4.3B
FY25 Q2 $4.4B
FY25 Q3 $4.6B
FY25 Q4 $4.7B
FY26 Q1 $4.8B
FY26 Q2 $5B
FY26 Q3 $5.2B
FY26 Q4 $5.5B
FY27 Q1 $6.3B
FY27 Q2 $6.9B
Revenue growth, TTM YoY Dycom Industries Inc
0% 10% 20% 30% 40% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 13.4% Revenue growth, TTM YoY, FY24 Q4: 9.6% Revenue growth, TTM YoY, FY25 Q1: 7.4% Revenue growth, TTM YoY, FY25 Q2: 9.6% Revenue growth, TTM YoY, FY25 Q3: 10.4% Revenue growth, TTM YoY, FY25 Q4: 12.6% Revenue growth, TTM YoY, FY26 Q1: 12.8% Revenue growth, TTM YoY, FY26 Q2: 12.6% Revenue growth, TTM YoY, FY26 Q3: 13.2% Revenue growth, TTM YoY, FY26 Q4: 17.9% Revenue growth, TTM YoY, FY27 Q1: 29.8% Revenue growth, TTM YoY, FY27 Q2: 37.8% 37.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 13.4%
FY24 Q4 9.6%
FY25 Q1 7.4%
FY25 Q2 9.6%
FY25 Q3 10.4%
FY25 Q4 12.6%
FY26 Q1 12.8%
FY26 Q2 12.6%
FY26 Q3 13.2%
FY26 Q4 17.9%
FY27 Q1 29.8%
FY27 Q2 37.8%
FCF margin (TTM) Dycom Industries Inc
-5% 0% 5% 10% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: -1.1% FCF margin (TTM), FY24 Q4: 1.0% FCF margin (TTM), FY25 Q1: 2.1% FCF margin (TTM), FY25 Q2: 0.2% FCF margin (TTM), FY25 Q3: 2.3% FCF margin (TTM), FY25 Q4: 2.1% FCF margin (TTM), FY26 Q1: 0.9% FCF margin (TTM), FY26 Q2: 2.5% FCF margin (TTM), FY26 Q3: 5.7% FCF margin (TTM), FY26 Q4: 7.2% FCF margin (TTM), FY27 Q1: 7.0% FCF margin (TTM), FY27 Q2: 6.8% 6.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 -1.1%
FY24 Q4 1.0%
FY25 Q1 2.1%
FY25 Q2 0.2%
FY25 Q3 2.3%
FY25 Q4 2.1%
FY26 Q1 0.9%
FY26 Q2 2.5%
FY26 Q3 5.7%
FY26 Q4 7.2%
FY27 Q1 7.0%
FY27 Q2 6.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-KT, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2017 Jul 2016 2018 Jul 2017 2019 Jan 2019 2020 Jan 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Jan 2024 2025 Jan 2025 2026 Jan 2026 LTM Aug 2026
Income
Revenue 2,673 3,067 3,128 3,340 3,199 3,131 3,808 4,176 4,702 5,546 6,880
Net income 129 157 63 57 34 49 142 219 233 281 330
Diluted EPS $3.89 $4.92 $1.97 $1.80 $1.07 $1.57 $4.74 $7.37 $7.92 $9.56 $10.99
Growth (year on year)
Revenue — +14.8% +2.0% +6.8% −4.2% −2.1% +21.7% +9.6% +12.6% +17.9% +37.8%
Net income — +22.1% −60.0% −9.0% — — — +53.9% +6.6% +20.5% +26.3%
Diluted EPS — +26.5% −60.0% −8.6% — — — +55.5% +7.5% +20.7% +23.7%
Margins
Net margin 4.8% 5.1% 2.0% 1.7% 1.1% 1.6% 3.7% 5.2% 5.0% 5.1% 4.8%
Free-cash-flow margin 3.4% 1.8% −1.3% −1.9% 10.1% 4.8% −0.9% 1.0% 2.1% 7.2% 6.8%
Cash flow
Cash from operations 276 256 124 58 382 309 165 259 349 643 718
Capital spending 186 201 165 121 58 157 201 218 250 241 249
Free cash flow 90 55 −41 −63 324 152 −36 40 99 402 469
Stock-based pay 17 21 20 10 13 10 18 25 40 34 37
Free cash flow after stock pay 73 34 −61 −73 311 142 −54 15 58 367 431
Balance sheet
Cash — — 128 55 12 311 224 101 93 709 340
Total debt 719 760 — — — — — — — — 2,820
Net debt (negative = net cash) — — −128 −55 −12 −311 −224 −101 −93 −709 2,480
Diluted shares 33m 32m 32m 32m 32m 31m 30m 30m 29m 29m 30m
Returned to shareholders
Buybacks 170 63 0 0 100 106 49 50 66 30 36
Total returned 170 63 0 0 100 106 49 50 66 30 36

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · August 1, 2026
What it owns · $6.5bn
Short-term assets $3.1bnLonger-term assets $3.5bn
What it owes, and who funded it · $6.5bn
Short-term liabilities $1.3bnLonger-term liabilities $3.2bnShareholders' equity $2.1bn
  • Short-term assets cover short-term liabilities $3.1bn of assets due within a year against $1.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $3.1bn short-term assets against $3.2bn of longer-dated liabilities.
  • More cash than debt $340m of cash against $2.8bn of debt.
  • Debt below 40% of shareholders' equity Debt is 137% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 109% to 137% over five years.
  • A year's operating cash flow covers at least 20% of debt $718m of operating cash flow against $2.8bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Dycom Industries Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$36M
Returned to shareholders
8%
of free cash flow
Buybacks, last 3 fiscal years
$145M
Diluted share count
+2.1%
year over year
Total shareholder yield
0.5%
dividends 0.0% + buybacks 0.5% of market value
Days sales outstanding
121 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in construction & engineering
Last 12 months unless stated DY PRIM KBR TPC STN APG Median
Revenue, last 12 months $6.9bn $7.3bn $7.8bn $5.9bn $5.8bn $8.9bn $1.5bn
Revenue growth, last 12 months 37.8% 5.1% −2.4% 24.7% 6.5% 16.4% 21.2%
Revenue growth, 3-year average 19.4% 11.3% 4.6% 16.4% — 9.0% 11.3%
Revenue growth, latest quarter 45.6% −10.7% 5.0% 19.2% — 22.5% 26.9%
Gross margin 19.5% 8.6% 14.7% 11.5% 42.4% 31.1% 13.0%
Operating margin — 2.9% 9.3% 4.5% — 7.2% 4.1%
Operating margin, 3-year average — 4.4% 9.2% 1.6% — 6.7% 5.4%
Net margin 4.8% 1.9% 5.7% 2.1% 5.9% 4.1% 1.9%
Cash from operations / revenue 10.4% 2.7% 4.9% 13.4% 10.6% 8.7% 4.4%
Free-cash-flow margin 6.8% 1.2% 4.2% 10.4% 8.8% 7.6% 2.3%
Free-cash-flow margin, 3-year average 3.2% 3.8% 5.6% 10.1% 7.2% 7.6% 5.5%
Stock pay / revenue 0.5% 0.3% — 2.5% 0.5% 0.7% 0.7%
Change in share count 2.1% −0.2% −3.1% 2.2% 0.0% −6.2% 0.8%

Median of all 43 companies we cover in construction & engineering. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 construction & engineering companies
Measure Company Peer median Rank
Revenue growth Growth 37.8% 21.2% 9 of 43
Change in growth rate Growth +8.0pp +3.2pp 13 of 43
Net margin Profitability 4.8% 2.1% 12 of 42
Free-cash-flow margin Cash generation 6.8% 2.3% 13 of 43
Stock pay as % of revenue Cash generation 0.5% 0.7% 14 of 33
Long-term debt as % of assets Balance sheet 42.7% 16.2% 32 of 35
Change in share count Balance sheet 2.1% 1.9% 22 of 40
Days sales outstanding Balance sheet 121 days 67 days 25 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Segments
Line of business Revenue Share YoY
Communications $5.5B 98.3% ▲ 15.9%
Building Systems $95.8M 1.7% —

From Dycom Industries Inc's 10-K filed March 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$14.2B
Institutions reporting
618
Shares held vs prior quarter
▼ 1.7%
Positions opened / closed
150 / 49

Top buyers and sellers, Q2 2026: 335 institutions bought and 258 sold ; the biggest buyer was Peconic Partners LLC (+330K shares) and the biggest seller Blackrock, Inc (−870K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Peconic Partners LLC $2.2B 4.4M 15.9% ▲ 8.0%
Blackrock, Inc. $1.5B 3.0M 10.7% ▼ 22.5%
Vanguard Capital Management LLC $684M 1.4M 4.8% ▲ 4.9%
Vanguard Portfolio Management LLC $646M 1.3M 4.6% ▼ 4.4%
Hill City Capital, LP $511M 1.0M 3.6% 0.0%
FMR LLC $473M 936K 3.3% ▼ 2.4%
State Street Corp $473M 936K 3.3% ▼ 13.1%
First Trust Advisors LP $459M 909K 3.2% ▲ 13.8%
Geode Capital Management, LLC $334M 661K 2.4% ▼ 20.4%
Millennium Management LLC $300M 594K 2.1% ▼ 26.3%
Bank Of America Corp $270M 534K 1.9% ▲ 19.9%
Dimensional Fund Advisors LP $242M 479K 1.7% ▼ 16.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Dycom Industries Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $551,307 3 trades by 3 insiders, last 12 months Insider sales History → $1.3M 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $708,478 net selling
Insider Date Trade Shares Price Value
Sabater Carmen M Director September 23, 2026 Buy 350 $280.62 $98,217
Peyovich Daniel S President & CEO September 9, 2026 Buy 850 $296.76 $252,246
Fallon David Joseph Director September 1, 2026 Buy 700 $286.92 $200,844
Gertel Eitan Director January 9, 2026 Sell 3,645 $345.62 $1.3M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Dycom Industries Inc disclosed in the last 12 months; 1 earlier trade on record.

  • Julia Letlow(R-LA 5):Purchase, $1,001 - $15,000, traded September 22, 2025, filed January 13, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 25, 2026 estimated from the company's past filing pattern, not announced

  • August 26, 2026
  • May 27, 2026
  • March 4, 2026
  • November 19, 2025
  • August 20, 2025
  • May 21, 2025

Recent SEC filings

Data status

When each part of this page on Dycom Industries Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Dycom Industries Inc in brief

What does Dycom Industries Inc do?
Dycom Industries Inc is a US-listed company in the construction & engineering industry. Its financial year ends in January.
What is Dycom Industries Inc's stock ticker?
Dycom Industries Inc trades under the ticker DY on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Dycom Industries Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Dycom Industries Inc reported revenue of $6.9B, 37.8% higher than a year earlier, according to its SEC filings.
What is Dycom Industries Inc's free cash flow?
Dycom Industries Inc's free-cash-flow margin is 6.8% of revenue over the trailing twelve months, ranking 13 of the 43 construction & engineering companies we cover.
What is Dycom Industries Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Dycom Industries Inc's free cash flow after stock-based pay gives ~$140 per share in the base case, and ~$89–$220 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Dycom Industries Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Peconic Partners LLC, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Dycom Industries Inc buying back stock, and does it pay a dividend?
Dycom Industries Inc spent $36M on share repurchases over the trailing twelve months, and its diluted share count still rose 2.1% over the year.
What is Dycom Industries Inc's market cap?
On November 2, 2026, Dycom Industries Inc's market capitalisation was about $6.6B, with a price-to-earnings ratio of 20.1 and net debt of $2.5B. Market figures come from third-party market data and may be delayed.
How much debt does Dycom Industries Inc have?
Dycom Industries Inc's debt-to-equity ratio is 136.6%, from its latest balance sheet (108.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Dycom Industries Inc's competitors?
In our Construction & Engineering peer group, the companies closest to Dycom Industries Inc are Primoris Services Corp, KBR, Inc., Tutor Perini Corp, Stantec Inc and Api Group Corp. The side-by-side comparison below sets their revenue, margins and growth against Dycom Industries Inc's.
Are insiders buying or selling Dycom Industries Inc stock?
Over the last 12 months, Dycom Industries Inc's directors and officers reported 3 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Dycom Industries Inc's next earnings date?
Around November 25, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Dycom Industries Inc announces its own schedule.