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Dycom Industries, Inc. (DY)

NYSE / Industrials / Engineering & Construction

Share price

257.78 USD Market dataClose of Oct 15, 2026

Market capitalisation

7.78B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Mar 9, 2026
Ratios computed
Oct 15, 2026
Filed years
15, FY2010 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

15.1% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

26.63x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

5.3% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 2.67B USDFY2016 Net income: 128.7M USDFY2017 Revenue: 3.07B USDFY2017 Net income: 157.2M USDFY2019 Revenue: 3.13B USDFY2019 Net income: 62.9M USDFY2020 Revenue: 3.34B USDFY2020 Net income: 57.2M USDFY2021 Revenue: 3.20B USDFY2021 Net income: 34.3M USDFY2022 Revenue: 3.13B USDFY2022 Net income: 48.6M USDFY2023 Revenue: 3.81B USDFY2023 Net income: 142.2M USDFY2024 Revenue: 4.18B USDFY2024 Net income: 218.9M USDFY2025 Revenue: 4.70B USDFY2025 Net income: 233.4M USDFY2026 Revenue: 5.55B USDFY2026 Net income: 281.2M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
1 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 26.63x at the close of 2026-10-15 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits between 25.00x and 40.00x.

Today, against the Industrials sector (412 companies), 26.63x sits at the 54th percentile; the middle half of that group runs from 15.04x to 38.40x.

Is it good

Return on equity was 15.1% in FY2026, in the band labelled "Strong" (15.0% to 25.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Engineering & Construction industry (42 companies), 15.1% sits at the 65th percentile; the middle half of that group runs from -11.9% to 17.8%.

Is it safe

Debt to equity was 1.61 in FY2026, in the band labelled "Leveraged" (1.00 to 2.00), on lines anchored on Graham's defensive-investor criteria.

Today, against the Engineering & Construction industry (32 companies), 1.61 sits at the 78th percentile; the middle half of that group runs from 0.23 to 1.44.

Year by year against peers
Whether Dycom Industries, Inc.'s return on equity stayed above the median of the Engineering & Construction industry, year by year. (FY2023 to FY2026, 4 fiscal years of Dycom Industries, Inc. with a comparable figure)
The direction
Which way Dycom Industries, Inc.'s return on equity has moved, and how steadily. (FY2016 to FY2026, 10 filed years of Dycom Industries, Inc.)
What could explain it
What in Dycom Industries, Inc.'s filed statements could explain the movements. (6 readings drawn from the statement lines Dycom Industries, Inc. filed)
What to check next
What to check next on Dycom Industries, Inc., and where in its filings. (2 questions for Dycom Industries, Inc.)
In one paragraph
One paragraph on Dycom Industries, Inc.'s returns, cash, balance sheet and price. (9 of sixteen figures read for Dycom Industries, Inc.)

These are DY’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research DYPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Mar 9, 2026, accession 0000067215-26-000008.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Dycom Industries, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Return on equity15.1% ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Return on capital employed, pre-tax
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Return on assets4.7% ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Gross margin
Why n/a

Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.

n/a ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Operating margin
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Net margin5.1% ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
DY 5.1%
ECG 5.4%AGX 14.6%FLR -0.3%ROAD 3.6%LGN -2.3%
-2.3%14.6%
Net margin: DY against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Dycom Industries, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity1.61 ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Current ratio2.74 ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Quick ratio2.61 ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Interest coverage
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Altman Z-score
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Net debt2.28B ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Total assets 5.98BTotal liabilities 4.12BShareholders' equity 1.86BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Dycom Industries, Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Mar 9, 2026, 0000067215-26-000008).

Dycom Industries, Inc: balance sheet position
Total assets5.98B FiledFY2026 10-K, filed Mar 9, 2026
Total liabilities4.12B FiledFY2026 10-K, filed Mar 9, 2026
Shareholders' equity1.86B FiledFY2026 10-K, filed Mar 9, 2026
Cash709.2M FiledFY2026 10-K, filed Mar 9, 2026
Total debt2.99B FiledFY2026 10-K, filed Mar 9, 2026
Net debt2.28B
Current ratio2.74
Debt to equity1.61
  • Interest cover: FY2026: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Dycom Industries, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings26.63x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
P/E on trailing twelve months24.62x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book4.08x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Price to sales1.37x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Enterprise value to EBIT
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Price to earnings over growth0.48 ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Diluted earnings per share9.56 USD FiledFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Graham number117.31 USD ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008

We publish no fair value or price target of our own. Value DY on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Dycom Industries, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Dycom Industries, Inc: valuation
Share price257.78 USD
Market capitalisation7.78B USD
Enterprise value to EBITDAn/a
Graham number117.31 USD
Diluted earnings per share, FY20269.56 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 7.49x, median 24.35x, high 169.94x, latest 24.62x. 2,521 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Dycom Industries, Inc

  1. Everus Construction Group, Inc. (ECG)Market cap 5.70B USD
  2. Argan, Inc. (AGX)Market cap 5.15B USD
  3. Fluor Corporation (FLR)Market cap 6.38B USD
  4. Construction Partners, Inc. (ROAD)Market cap 4.71B USD
  5. Legence Corp. Class A Common stock (LGN)Market cap 6.26B USD

Same industry (Engineering & Construction) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Dycom Industries, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield5.3% ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Free cash flow401.7M USD ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Free cash flow margin7.2% ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
FY2016 Free cash flow: 89.7M USDFY2016 Net income: 128.7M USDFY2017 Free cash flow: 55.2M USDFY2017 Net income: 157.2M USDFY2019 Free cash flow: -40.5M USDFY2019 Net income: 62.9M USDFY2020 Free cash flow: -62.6M USDFY2020 Net income: 57.2M USDFY2021 Free cash flow: 323.7M USDFY2021 Net income: 34.3M USDFY2022 Free cash flow: 151.6M USDFY2022 Net income: 48.6M USDFY2023 Free cash flow: -36.2M USDFY2023 Net income: 142.2M USDFY2024 Free cash flow: 40.5M USDFY2024 Net income: 218.9M USDFY2025 Free cash flow: 98.6M USDFY2025 Net income: 233.4M USDFY2026 Free cash flow: 401.7M USDFY2026 Net income: 281.2M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Dycom Industries, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
26.63xFY2026Oct 15, 2026
4.08xFY2026Oct 15, 2026
n/aFY2026Oct 15, 2026
n/a The filed income statement reports no operating income.
5.3%FY2026Oct 15, 2026
n/aFY2026Mar 9, 2026
n/a No operating income line is filed for this year.
n/aFY2026Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
1.61FY2026Mar 9, 2026
2.74FY2026Mar 9, 2026
1.37xFY2026Oct 15, 2026
0.48FY2026Oct 15, 2026
n/aFY2026Oct 15, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
-2.22FY2026Mar 9, 2026
4/9FY2026Mar 9, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 15 filed fiscal years on record, FY2010 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2026, read from the annual reports Dycom Industries, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Dycom Industries, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20265.55Bn/a281.2M9.56401.7Mn/a15.1%10-K, Mar 9, 20260000067215-26-000008
FY20254.70Bn/a233.4M7.9298.6Mn/a18.8%10-K, Feb 28, 20250000067215-25-000012
FY20244.18Bn/a218.9M7.3740.5Mn/a20.8%10-K, Mar 1, 20240000067215-24-000014
FY20233.81Bn/a142.2M4.74-36.2Mn/a16.4%10-K, Mar 3, 20230000067215-23-000011
FY20223.13Bn/a48.6M1.57151.6Mn/a6.4%10-K, Mar 4, 20220000067215-22-000011
FY20213.20Bn/a34.3M1.07323.7Mn/a4.2%10-K, Mar 5, 20210000067215-21-000010
FY20203.34Bn/a57.2M1.80-62.6Mn/a6.6%10-K, Mar 2, 20200000067215-20-000012
FY20193.13Bn/a62.9M1.97-40.5Mn/a7.8%10-K, Mar 4, 20190000067215-19-000008
FY20173.07Bn/a157.2M4.9255.2Mn/a23.4%10-K, Sep 1, 20170000067215-17-000033
FY20162.67Bn/a128.7M3.8989.7Mn/a23.1%10-K, Aug 31, 20160000067215-16-000096
  • Revenue, compound annual growth FY2016 to FY2026: 7.6%
  • Earnings, compound annual growth FY2016 to FY2026: 8.1%
  • Earnings per share, compound annual growth FY2016 to FY2026: 9.4%
  • Free cash flow, compound annual growth FY2016 to FY2026: 16.2%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Dycom Industries, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.22 ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Piotroski F-score4/9 ComputedFY2026 10-K, filed Mar 9, 2026, 0000067215-26-000008
Named tests met1 of 30 Computed
Beta0.99 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 1 met, 23 not met, 6 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Low P/S, rising earnings (James O'Shaughnessy)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Earnings yield and ROIC (Joel Greenblatt); Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; ROIC at or above WACC; Cash-covered dividend; Cash-flow yield and ROIC. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(13)
  • Positive Earnings Streak: We hold 8 profitable filed years in a row; the test needs 10.
  • EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
  • Return on Invested Capital: No operating income line is filed for this year.
  • Altman Z-Score: We do not hold this figure for this company, so there is nothing to show.
  • Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: No operating income line is filed for this year.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 13 figures could not be read on this company, among them Positive Earnings Streak, EV/EBIT, Return on Invested Capital. Each blank in the table above names the rest, with its reason. 6 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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