Dycom Industries, Inc.
- Open
- 293.25
- Day high
- 298.01
- Day low
- 287.60
- Prev close
- 294.34
- Volume
- 626K
- Mkt cap
- $8.8B
- P/E (TTM)
- 26.3
- EPS (TTM)
- $11.09
- P/B
- 4.3
- P/S
- 1.3
- Yield
- —
- Per share
- —
Dycom Industries, Inc. (DY) is a Industrials company listed on NYSE. The stock is up 18% over the past year. Drillr has 1 published research article covering DY.
Dycom Industries, Inc. (DY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 26, 2026 | $4.73 | $5.29 | +11.8% | $2.0B | +1.8% |
| May 27, 2026 | $2.72 | $4.42 | +62.4% | $2.0B | +18.1% |
| Mar 4, 2026 | $1.90 | $2.03 | +6.7% | $1.5B | -11.5% |
| Nov 19, 2025 | $3.21 | $3.63 | +13.2% | $1.5B | +3.0% |
| Aug 20, 2025 | $2.92 | $3.33 | +14.2% | $1.4B | -2.0% |
| May 21, 2025 | $1.73 | $2.09 | +20.5% | $1.3B | +5.0% |
| Feb 26, 2025 | $0.91 | $1.17 | +28.7% | $1.1B | +5.5% |
| Nov 20, 2024 | $2.38 | $2.68 | +12.8% | $1.3B | +3.9% |
| Aug 21, 2024 | $2.27 | $2.46 | +8.4% | $1.2B | +0.8% |
| May 22, 2024 | $1.53 | $2.12 | +38.2% | $1.1B | +4.3% |
| Feb 28, 2024 | $0.95 | $0.79 | -17.0% | $952M | -2.1% |
| Nov 21, 2023 | $1.82 | $2.82 | +54.8% | $1.1B | +16.2% |
DY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 5, 2026 | Skillern Raejeannedirector | Grant | 29 | $414.98 |
| Aug 5, 2026 | Lenz Michael C.director | Grant | 343 | — |
| Aug 5, 2026 | GALLAGHER PHILIP Rdirector | Grant | 48 | $414.98 |
| Aug 5, 2026 | Sykes Richard Kdirector | Grant | 114 | $414.98 |
| Aug 5, 2026 | LeClair Stephen Odirector | Grant | 42 | $414.98 |
| Aug 5, 2026 | Fallon David Josephdirector | Grant | 343 | — |
| Aug 5, 2026 | Fritzsche Jennifer Mdirector | Grant | 32 | $414.98 |
| May 29, 2026 | Sykes Richard Kdirector | Grant | 142 | — |
| May 29, 2026 | Fritzsche Jennifer Mdirector | Grant | 331 | — |
| May 29, 2026 | Skillern Raejeannedirector | Grant | 331 | — |
| May 29, 2026 | Pruitt Peter T Jrdirector | Grant | 331 | — |
| May 29, 2026 | Gertel Eitandirector | Grant | 331 | — |
| May 29, 2026 | LeClair Stephen Odirector | Grant | 331 | — |
| May 29, 2026 | Sykes Richard Kdirector | Grant | 331 | — |
| May 29, 2026 | Sabater Carmen Mdirector | Grant | 331 | — |
Source: DY SEC Form 4 filings, latest Aug 5, 2026. For informational purposes only — not investment advice.
See the full DY insider & 13F page →Dycom Industries, Inc. company profile
Overview
Dycom Industries, Inc. (NYSE:DY) is a specialty contractor that provides engineering and construction services for telecommunications infrastructure across the United States. Founded in 1969 and headquartered in Palm Beach Gardens, Florida, the company went public in 1984. Dycom has evolved from a regional contractor into a leading national provider of telecommunications infrastructure services, serving major telecommunications companies, cable operators, wireless carriers, and electric utilities. The company has experienced significant growth in recent years, driven by the nationwide expansion of fiber-optic networks and the rollout of 5G wireless infrastructure.
Business
Dycom Industries operates in the telecommunications infrastructure construction sector, providing specialized contracting services that enable the deployment and maintenance of modern communication networks. The company's core business revolves around building the physical infrastructure that connects homes, businesses, and wireless towers to high-speed internet and telecommunications services. Telecommunications Infrastructure Construction represents the company's primary service offering, encompassing approximately 93% of total revenues. This segment includes the design, construction, and maintenance of fiber-optic cable networks, which are the backbone of modern internet and telecommunications services. Fiber-optic cables transmit data using light signals through thin glass strands, enabling much faster internet speeds than traditional copper wire systems. Dycom's crews physically install these cables both underground and on aerial poles, splice connections, and perform ongoing maintenance to ensure network reliability. Wireless Infrastructure Services accounts for approximately 7% of revenues and involves constructing cell tower sites, installing antennas and equipment, and building the fiber connections that link wireless towers to the broader telecommunications network. This segment has grown with the deployment of 5G wireless networks, which require denser networks of cell sites and more robust fiber connections than previous wireless technologies. The company also provides Program Management and Engineering Services, helping telecommunications companies plan and design their network expansions. Additionally, Dycom offers Underground Facility Locating Services, which involves identifying the location of buried utilities before construction begins to prevent accidental damage to existing infrastructure. Dycom's customer base consists primarily of large telecommunications companies including AT&T, Lumen Technologies, Comcast, Charter Communications, and Verizon, with the top five customers representing approximately 57% of total revenue. The company also serves electric utilities that are expanding into telecommunications services by building fiber networks alongside their power infrastructure.
Revenue model
Dycom generates revenue primarily through service contracts with telecommunications companies, cable operators, and utilities. The company operates on a project-based business model where it bids on construction and maintenance contracts, typically ranging from several months to multiple years in duration. Revenue is recognized as work is performed, with payment terms generally requiring customers to pay within 30-60 days of work completion. The company's revenue streams include construction services for new network builds, maintenance and upgrade services for existing networks, and emergency restoration work following natural disasters. Dycom's backlog of $7.76 billion represents contracted work that provides revenue visibility over the next 12-18 months, with approximately $4.6 billion expected to be completed within the next year. Margin drivers that positively impact profitability include operating leverage from higher revenue volumes, geographic diversification that reduces regional economic risks, and productivity improvements through technology adoption and workforce training. The company benefits from long-term customer relationships and the specialized nature of telecommunications infrastructure work, which creates barriers to entry for new competitors. Margin pressures include labor cost inflation in tight employment markets, rising equipment and material costs, weather-related work delays, and the cyclical nature of customer capital spending programs. The company's margins are also sensitive to project mix, with new construction typically generating higher margins than maintenance work. Competitive bidding for large contracts can compress margins, particularly when multiple qualified contractors compete for the same projects. The telecommunications infrastructure market is driven by several long-term trends including the ongoing deployment of fiber-to-the-home networks, 5G wireless infrastructure buildouts, and emerging demand for high-capacity networks to support artificial intelligence and data center connectivity. Government funding programs, including the $42 billion Broadband Equity, Access, and Deployment (BEAD) program, provide additional growth opportunities for rural network expansion.
Competitive moat
Dycom's competitive position is built on several defensive characteristics, though the company operates in a moderately competitive industry without an insurmountable moat. The company's primary competitive advantages include its scale and geographic reach, specialized technical expertise, established customer relationships, and operational capabilities that smaller competitors cannot easily replicate. Scale and Geographic Diversification provides Dycom with significant advantages in bidding for large, multi-state contracts that require substantial workforce and equipment resources. The company's ability to mobilize crews across different regions allows it to respond quickly to customer needs and weather-related emergencies, while also providing some protection against regional economic downturns. Technical Expertise and Workforce represents another competitive advantage, as telecommunications infrastructure work requires specialized skills in fiber-optic installation, splicing, and testing. Dycom's investment in training programs and safety protocols helps maintain quality standards and reduces customer risk, leading to repeat business and long-term contract relationships. Customer Relationships and Switching Costs provide some protection, as telecommunications companies prefer working with proven contractors who understand their network standards and operational requirements. The qualification process for new contractors can be lengthy and expensive, creating modest barriers to entry. However, Dycom faces meaningful competitive threats from other large contractors including MasTec, Quanta Services, and regional players who compete for the same contracts. The industry is subject to competitive bidding processes that can compress margins, and customers often maintain relationships with multiple contractors to ensure adequate capacity and competitive pricing. Potential disruption could come from technological changes that reduce the need for physical infrastructure deployment, consolidation among telecommunications customers that reduces overall spending, or new construction methods that lower barriers to entry for competitors. The company's dependence on a relatively small number of large customers also creates concentration risk, as the loss of a major customer or significant reduction in their capital spending could materially impact Dycom's business.
Risks & safety
Dycom demonstrates a moderate margin of safety with solid financial fundamentals but some areas of concern regarding valuation and cash flow volatility. Financial Strength: 1. Current ratio of 2.89 indicates strong short-term liquidity 2. Cash and short-term investments of $93 million provide adequate working capital buffer 3. Debt-to-equity ratio of 0.85 represents manageable leverage levels 4. Strong backlog of $7.76 billion provides revenue visibility Valuation Metrics: 1. Price-to-earnings ratio of 43 appears elevated for a cyclical construction company 2. EV/EBITDA of 14.3 suggests premium valuation relative to historical averages 3. Price-to-book ratio of 4.5 indicates market expectations for continued growth 4. Graham number of $32.81 suggests potential overvaluation at current price of $163.86 Other Considerations: 1. Free cash flow of $260 million in fiscal 2025 demonstrates strong cash generation 2. Quarterly cash flow can be volatile due to working capital fluctuations and project timing 3. Dependence on customer capital spending creates earnings cyclicality risk 4. Strong industry tailwinds from fiber deployment and 5G buildouts support growth outlook
Recent development
Over the past few years, Dycom has executed several strategic initiatives to position itself for long-term growth in the evolving telecommunications infrastructure market. The company has significantly expanded its capabilities through targeted acquisitions, most notably the $150 million acquisition of Black & Veatch's wireless telecommunications infrastructure business in 2024, which added approximately $250-275 million in annual revenue and $1 billion in backlog. Leadership Transition and Strategic Focus: The company underwent a significant leadership transition with Steven Nielsen retiring as CEO after 25 years and Dan Peyovich assuming the role. Under new leadership, Dycom has articulated a clear strategic focus on capitalizing on three major growth opportunities: fiber-to-the-home network expansion, 5G wireless infrastructure deployment, and emerging demand for long-haul fiber networks to connect AI data centers and hyperscaler facilities. Market Positioning for Emerging Opportunities: Dycom has positioned itself to benefit from the artificial intelligence infrastructure boom, engaging in early-stage conversations with hyperscale cloud providers about building thousands of miles of high-capacity fiber networks to connect data centers. This represents a potentially significant new revenue stream beyond traditional telecommunications customers. Government Program Preparation: The company has been actively preparing for opportunities from the federal BEAD program, which provides $42 billion for rural broadband infrastructure. Dycom has engaged with potential sub-grantees and state broadband offices to position for contract awards expected to begin materializing in 2026. Operational Excellence Initiatives: The company has continued investing in workforce training, safety programs, and productivity technologies to maintain competitive advantages. Dycom has also pursued a disciplined approach to geographic expansion and capacity management, focusing on markets and customers that offer the best long-term growth prospects. Capital Allocation Strategy: Management has implemented a balanced capital allocation approach, combining organic growth investments, strategic acquisitions, and shareholder returns through stock repurchases. The company authorized a new $150 million share repurchase program and has consistently returned capital to shareholders while maintaining financial flexibility for growth opportunities.
DY company profile · for informational purposes only — not investment advice.
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