DY Industrials

Dycom Industries, Inc.

$228.21+3.24%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Industrials
Industry: Engineering & Construction
Country: United States
Market cap: 6.9B USD
Enterprise value: 10.1B USD
Full-time employees: 19,556

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.50 vs a peer median of 0.64) and more debt relative to equity (1.37× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.50 vs peers 0.64) and more debt vs equity (1.37× vs peers 0.40×)
About average: profitability

Ranks #964 of 2,308 industrials companies (top 42%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $100M vs $145M spent repurchasing shares over the 3 fiscal years to FY Jan 2026. Shares outstanding changed +2.8% from January 2023 to August 2026.
Over three fiscal years Dycom Industries recorded $100M of stock-based pay expense and spent $145M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (+2.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Dycom Industries recorded $100M of stock-based pay expense and spent $145M repurchasing shares. The share count barely moved (+2.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Borrowing rising faster than profit. Since FY Jan 2023: debt +241%, operating profit +107%.
Dycom Industries's debt grew 241% since FY Jan 2023 while operating profit changed +107%.
Profits growing faster than sales. Since FY Jan 2023: revenue +46%, operating profit +107%.
Since FY Jan 2023, Dycom Industries's revenue grew 46% while operating profit grew 107%: each extra dollar of sales is adding more profit.
Profit is backed by cash. Free cash flow is 142% of reported profit.
Dycom Industries's free cash flow is 142% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

55/ 100▲ 1 since Oct 27 close

Oct 5 54 → Nov 4 55 (+1)

Valuation

Is the price right?

60/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.8%

SEC filings · 12 months to Aug 2026Reported value30% base weight · Z-score 0.34Sector median: 0.0377 · MAD: 0.0294

EBITDA yield8.5%

SEC filings · 12 months to Aug 2026Reported value50% base weight · Z-score 0.36Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield6.8%

SEC filings · 12 months to Aug 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.84Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield30.0%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

92/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 10.0%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth20.4%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score 0.54Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth19.4%

SEC filings · 3 years to Aug 2026Reported value33% base weight · Z-score 2.42Sector median: 0.0421 · MAD: 0.0625

Revenue growth37.8%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score 4.36Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

51/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Helped by:

▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin6.1%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -0.33Sector median: 0.0773 · MAD: 0.0507

Return on assets5.0%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score 0.80Sector median: 0.0311 · MAD: 0.0241

Return on invested capital7.3%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score 0.02Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin20.5%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity16.0%

SEC filings · 12 months to Aug 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.50

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.12Sector median: 0.6440 · MAD: 0.2745

Current ratio2.35×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.36Sector median: 1.6180 · MAD: 0.5360

Debt / equity1.37×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.85Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Dycom Industries

Is Dycom Industries getting weaker?: Its latest SEC filing (Aug 27, 2026) showed no major changes. Its overall score is 55/100, up 1 since Oct 28, 2026.
How is Dycom Industries valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 60/100 against 2,459 industrials peers. Free cash flow yield 6.8% vs a peer median of 3.7% (stronger than 72% of peers).Free cash flow yield 6.8% vs peers 3.7% (stronger than 72% of peers).
Is Dycom Industries growing?: Yes, faster than most of its peers. Growth scores 92/100 against 2,459 industrials peers. Revenue growth 37.8% vs a peer median of 4.4% (stronger than 94% of peers).Revenue growth 37.8% vs peers 4.4% (stronger than 94% of peers).
How profitable is Dycom Industries?: About as profitable as its peers. Profitability scores 51/100 against 2,459 industrials peers. Return on assets 5.0% vs a peer median of 3.1% (stronger than 70% of peers).Return on assets 5.0% vs peers 3.1% (stronger than 70% of peers).
How risky is Dycom Industries?: Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 2.35× vs a peer median of 1.62× (stronger than 73% of peers).Current ratio 2.35× vs peers 1.62× (stronger than 73% of peers). Beta 1.50 vs a peer median of 0.64 (weaker than 94% of peers).Beta 1.50 vs peers 0.64 (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Aug 1, 2026 · filed Aug 27, 2026 · compared with the quarter ended May 2, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	6.3B USD	6.9B USD	+10.0%
Net income (12 months)	311.2M USD	329.4M USD	+5.8%
Operating margin	6.2%	6.1%	−0.1 pts
Free cash flow (12 months)	440.3M USD	468.7M USD	+6.4%
Debt	2.8B USD	2.8B USD	+0.1%
Cash	538.8M USD	340.1M USD	−36.9%
Shares outstanding	30.0M	30.2M	+0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Engineering & Construction companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Jan 2022	FY Jan 2023	FY Jan 2024	FY Jan 2025	FY Jan 2026	Change
Operating margin	1.5%	4.5%	6.5%	5.9%	6.3%	▲ 0.4 pts
Net margin	1.6%	3.7%	5.2%	5.0%	5.1%	▲ 0.1 pts
Return on assets (ROA)	2.3%	6.1%	8.7%	7.9%	4.7%	▼ 3.2 pts
Return on equity (ROE)	6.4%	16.4%	20.8%	18.8%	15.1%	▼ 3.7 pts
Free cash flow margin	4.8%	-0.9%	1.0%	2.1%	7.2%	▲ 5.1 pts
Current ratio	3.55×	3.18×	3.06×	2.89×	2.74×	▼ 5.1%
Quick ratio	3.34×	2.93×	2.85×	2.67×	2.61×	▼ 2.2%
Debt to equity	1.11×	0.95×	0.77×	0.76×	1.51×	▲ 99%

DY price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.50 vs a peer median of 0.64) and more debt relative to equity (1.37× vs a peer median of 0.40×)higher risk: bigger price swings (beta 1.50 vs peers 0.64) and more debt vs equity (1.37× vs peers 0.40×)

About average: profitability

Ranks #964 of 2,308 industrials companies (top 42%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $100M vs $145M spent repurchasing shares over the 3 fiscal years to FY Jan 2026. Shares outstanding changed +2.8% from January 2023 to August 2026.

Over three fiscal years Dycom Industries recorded $100M of stock-based pay expense and spent $145M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (+2.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Dycom Industries recorded $100M of stock-based pay expense and spent $145M repurchasing shares. The share count barely moved (+2.8%), so much of the repurchasing offset new employee shares rather than shrinking the count.

Borrowing rising faster than profit. Since FY Jan 2023: debt +241%, operating profit +107%.

Dycom Industries's debt grew 241% since FY Jan 2023 while operating profit changed +107%.

Profits growing faster than sales. Since FY Jan 2023: revenue +46%, operating profit +107%.

Since FY Jan 2023, Dycom Industries's revenue grew 46% while operating profit grew 107%: each extra dollar of sales is adding more profit.

Profit is backed by cash. Free cash flow is 142% of reported profit.

Dycom Industries's free cash flow is 142% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Questions investors ask about Dycom Industries

Is Dycom Industries getting weaker?

Its latest SEC filing (Aug 27, 2026) showed no major changes. Its overall score is 55/100, up 1 since Oct 28, 2026.

How is Dycom Industries valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 60/100 against 2,459 industrials peers. Free cash flow yield 6.8% vs a peer median of 3.7% (stronger than 72% of peers).Free cash flow yield 6.8% vs peers 3.7% (stronger than 72% of peers).

Is Dycom Industries growing?

Yes, faster than most of its peers. Growth scores 92/100 against 2,459 industrials peers. Revenue growth 37.8% vs a peer median of 4.4% (stronger than 94% of peers).Revenue growth 37.8% vs peers 4.4% (stronger than 94% of peers).

How profitable is Dycom Industries?

About as profitable as its peers. Profitability scores 51/100 against 2,459 industrials peers. Return on assets 5.0% vs a peer median of 3.1% (stronger than 70% of peers).Return on assets 5.0% vs peers 3.1% (stronger than 70% of peers).

How risky is Dycom Industries?

Higher risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 2.35× vs a peer median of 1.62× (stronger than 73% of peers).Current ratio 2.35× vs peers 1.62× (stronger than 73% of peers). Beta 1.50 vs a peer median of 0.64 (weaker than 94% of peers).Beta 1.50 vs peers 0.64 (weaker than 94% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

6.3B USD

6.9B USD

+10.0%

Net income (12 months)

311.2M USD

329.4M USD

+5.8%

Operating margin

6.2%

6.1%

−0.1 pts

Free cash flow (12 months)

440.3M USD

468.7M USD

+6.4%

Debt

2.8B USD

2.8B USD

+0.1%

Cash

538.8M USD

340.1M USD

−36.9%

Shares outstanding

30.0M

30.2M

+0.4%

Key ratios

FY Jan 2022

FY Jan 2023

FY Jan 2024

FY Jan 2025

FY Jan 2026

Change

Operating margin

1.5%

4.5%

6.5%

5.9%

6.3%

▲ 0.4 pts

Net margin

1.6%

3.7%

5.2%

5.0%

5.1%

▲ 0.1 pts

Return on assets (ROA)

2.3%

6.1%

8.7%

7.9%

4.7%

▼ 3.2 pts

Return on equity (ROE)

6.4%

16.4%

20.8%

18.8%

15.1%

▼ 3.7 pts

Free cash flow margin

4.8%

-0.9%

1.0%

2.1%

7.2%

▲ 5.1 pts

Current ratio

3.55×

3.18×

3.06×

2.89×

2.74×

▼ 5.1%

Quick ratio

3.34×

2.93×

2.85×

2.67×

2.61×

▼ 2.2%

Debt to equity

1.11×

0.95×

0.77×

0.76×

1.51×

▲ 99%