DY
Dycom Industries, Inc.
DY's fundamentals are strong and it looks cheap: trading at 21x earnings, below its usual 32x. Analysts expect strong earnings growth, though they disagree widely on how much.
DY Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Stable |
DY's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
DY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $225 | — |
| Cheap | 19x | $212 | -6% |
| Current | 21x | $225 | — |
| Fair | 31x | $345 | +53% |
| Expensive | 63x | $687 | +205% |
Historical ranges are pointers, not guarantees.
DY's PE is in its cheap range at 21x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
DY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for DY, with profitability improving. However, they disagree widely on these estimates.
DY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $18.90 | +73% |
| Q3 2026 | $10.95 | +23% |
| Q2 2026 | $10.47 | +33% |
| Q1 2026 | $9.56 | +21% |
| Q4 2025 | $10.16 | +34% |
| Q3 2025 | $8.90 | +11% |
| Q2 2025 | $7.89 | +1.7% |
| Q1 2025 | $7.92 | +7.5% |
| Q4 2024 | $7.60 | +2.6% |
DY's earnings per share have climbed steadily: $10.95 over the past year, up 23% from the year before, and higher year over year for 22 quarters in a row.
DY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2B | +46% |
| Q2 2026 | $2B | +56% |
| Q1 2026 | $1.5B | +34% |
| Q4 2025 | $1.5B | +14% |
| Q3 2025 | $1.4B | +15% |
| Q2 2025 | $1.3B | +10% |
| Q1 2025 | $1.1B | +14% |
| Q4 2024 | $1.3B | +12% |
DY's revenue has grown year over year for 20 quarters in a row: $2B last quarter, up 46% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.6% | -0.6 points |
| Q2 2026 | 7.3% | +0.5 points |
| Q1 2026 | 3.4% | -1.6 points |
| Q4 2025 | 10% | +2.4 points |
| Q3 2025 | 10% | +1.5 points |
| Q2 2025 | 6.8% | -0.3 points |
| Q1 2025 | 5% | +0.5 points |
| Q4 2024 | 8% | -2.5 points |
DY's operating margin was 9.6% last quarter, down 0.6 points from the same quarter a year ago.
DY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $34.2M | +493% |
| Q2 2026 | -$94.9M | +$38.6M |
| Q1 2026 | $364.6M | +40% |
| Q4 2025 | $164.8M | +$173.6M |
| Q3 2025 | $5.8M | +$78.7M |
| Q2 2025 | -$133.5M | -$54.1M |
| Q1 2025 | $259.7M | -3% |
| Q4 2024 | -$8.8M | +$95.7M |
DY generated $469M in free cash flow over the past year, about four times what it generated the year before.
DY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -18.5K shares |
| 1 year | +3.8% | +1.1M shares |
| 3 years | +2.5% | +753K shares |
| 5 years | -1.6% | -509K shares |
| Available history | -4.6% | -1.5M shares |
DY has 30M diluted shares, up 3.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $36M |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $30.2M |
| Q1 2025 | $35.9M |
| Q4 2024 | — |
DY spent $36M buying back its own shares over the past year, down 46% from the year before.
DY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.7x | Moderate |
| Q2 2026 | 2.8x | Moderate |
| Q1 2026 | 3.0x | Elevated |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.7x | Healthy |
| Q2 2025 | 1.8x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 2.1x | Moderate |
DY's net debt is about 2.7 years of its operating earnings (EBITDA), up from 1.6 years a year ago.
DY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.7 | Neutral |
| Stochastic | 9.9 | Oversold |
DY's weekly RSI is 32 (neutral) and its Stochastic is 10 (oversold).
DY PE vs Industrials Sector
| Metric | DY | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 24x | 14% below |
| PE % | 23 | 58 | 35 pts below |
DY is trading at 21x earnings, a 14% discount to the Industrials sector's median of 24x.
DY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $244.1 | 7.7% below |
| 20 week MA | $323.4 | 30% below |
| 50 week MA | $367.2 | 39% below |
| 100 week MA | $296.6 | 24% below |
| 200 week MA | $212.9 | 5.8% above |
DY has fallen below most of its moving averages, though it's still 5.8% above its 200-week average.
DY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.5 | $73.9 | +59% |
| 2021 | $73.9 | $91.3 | +23% |
| 2022 | $91.3 | $93.8 | +2.7% |
| 2023 | $93.8 | $115.1 | +23% |
| 2024 | $115.1 | $175.2 | +52% |
| 2025 | $175.2 | $347.6 | +98% |
| 2026 YTD | $347.6 | $225.3 | -35% |
DY has finished every year since 2020 higher, and it's down 35% so far in 2026.