DY
DYCOM INDUSTRIES INC
Materials • CIK: 0000067215
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Market Cap
$8.46B
P/E (TTM)
28.4x
Rev Growth (TTM)
+13.2%
Net Margin (TTM)
5.8%
FCF Yield (TTM)
3.5%
FCF Margin (TTM)
5.7%
Cash Flow Health
Free Cash Flow4/8 positive
TTM$297M
Q3 '26
$165M+2764%
Q2 '26
$6M+104%
FCF Margin
TTM5.7%
Q3 '2611.4%+2618%
Sector: 4.7%Above Avg
OCF Margin10.7%
OCF/NI1.85x
CapEx Coverage2.2x
FCF Yield3.5%
FCF Growth (2Y)–
Cash Conversion Cycle
96 days
DSO: 108+DIO: 11−DPO: 23
Capital Allocation & Returns
Growth Focused
Total Shareholder YieldTTM
TTM0.8%
Div Yield0.0%
+Buyback (TTM)0.8%
Prioritizing reinvestment over distributions
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$296.8M
Stock Repurchases (TTM)$66.0M
Capital Return / FCF22.2%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
13.3%
Stable
+0.1% YoY+7.3%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
6.3%
8Q: 6.2%
Asset Turnover
1.66x
8Q: 1.73x
Leverage (1+D/E)
1.63x
D/E: 0.63x
DuPont: 17.0% ≈ 13.3% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
9.34x
8Q:9.93x
+29.3%
Invested Cap Turn
2.12x
8Q:2.19x
+19.2%
CapEx Intensity
10.4%
8Q:11.3%
CapEx/Depreciation
1.08x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $5.2B | $1.5B↑5.4% | $1.4B↑9.5% | $1.3B↑16.1% | $1.1B↓14.7% | $1.3B↑5.7% | $1.2B↑5.3% | $1.1B↑19.9% | $952.5M |
Operating Income | $429.6M | $150.7M↑7.8% | $139.8M↑63.8% | $85.4M↑59.1% | $53.7M↓47.3% | $101.8M↓2.1% | $104.0M↑28.4% | $81.0M↑89.2% | $42.8M |
Net Income | $297.6M | $106.4M↑9.1% | $97.5M↑59.7% | $61.0M↑86.9% | $32.7M↓53.2% | $69.8M↑2.0% | $68.4M↑9.3% | $62.6M↑167.1% | $23.4M |
Operating Cash Flow | $551.7M | $220.0M↑283.0% | $57.4M↑206.4% | $-54.0M↓116.4% | $328.2M↑398.9% | $65.8M↑975.6% | $-7.5M↑79.9% | $-37.4M↓111.5% | $325.1M |
Free Cash Flow | $296.8M | $164.8M↑2763.8% | $5.8M↑104.3% | $-133.5M↓151.4% | $259.7M↑3055.8% | $-8.8M↑88.0% | $-72.9M↑8.1% | $-79.4M↓129.6% | $267.7M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
28.4x
Volatile
8Q: 79.0x-2435%
Valuation Lenses
Earnings
28.4x
vs – sector
Cash Flow
24.3x
EV/FCF vs –
Growth-Adj
0.8xPEG
Undervalued for growth
Quality-Adj
2.1P/E per %ROIC
ROIC: 13.3%
Shareholder Returns
Dividend
–
Buyback
0.8%
Total Yield
0.8%
Market Cap$8.46B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
90/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
22.7%
8Q:–
Return on Invested Capital (ROIC)Top 25%
13.3%
8Q:–
+7.3%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 6.3%
Asset Turnover: 1.66x
Earnings Quality
Cash Conversion
1.85x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin20.7%
Capital Efficiency
Invested Capital Turnover2.12x
Working Capital
Cash Conversion Cycle96 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
63/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
13.2%
OpInc Growth YoY
48.1%
EPS Growth YoY
33.7%
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
20.7%
Operating
8.3%
Below Avg in sector
Net
5.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-0.0 pts
FCF: 5.7% | Net: 5.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $827.67M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.63x
Balance sheet risk & solvency analysis