Dycom Industries Inc (DY) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Dycom Industries Inc stock $183, price $193, that is 5.0% below the price, quality 54 out of 100. Rating: fairly valued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range $66.17 – $535.20 · fair‑value band $103.00 – $313.53 · the $192.79 price screens above the $183.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 1, 2026.
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Dycom Industries, Inc. provides specialty contracting services to the digital infrastructure, telecommunications infrastructure, and utility industries in the United States. It operates through Communications and Building Systems segments.
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The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; placement of cables, related structures, and drop lines for telephone companies and cable multiple system operators; program and project management, and inspection personnel; and wireless networks in connection with the deployment of macro cell and new small cell sites.
It also provides construction, maintenance, and installation services, such as placement and splicing of copper, fiber, and coaxial cables; tower construction, lines and antenna installation, foundation and equipment pad construction, and small cell site placement for wireless carriers, as well as equipment installation and material fabrication, and site testing services; underground facility locating services, including locating telephone, cable television, power, water, sewer, and gas lines for utility companies; installation and maintenance of customer premise equipment for electric and gas utilities, and other customers.
Dycom Industries, Inc. was incorporated in 1969 and is based in West Palm Beach, Florida.
Stock analysis
Dycom Industries Inc (DY) currently trades at $192.79, while our model-based Fair Value estimate is $183.07, so the stock looks roughly fairly valued today (gap 5.3%).
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Valuation
Bull case: the Multiples group reads highest at a median of $223.71 per share, and 11 of the 22 models we run sit above the $192.79 price.
Bear case: the Economic Profit group reads lowest at $71.69, and 11 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $103.00 (bear) to $313.53 (bull), the price of $192.79 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Dycom Industries Inc reported revenue of $5.5B in FY2026 versus $3.1B in FY2022, a compound +15.4%/yr. Reported net income was $281M in FY2026, compounding +55.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap $7.2B Mid · P/E ratio 17.6 · P/S ratio 1.04 · EPS (TTM) $10.95 · Net margin 4.8% · Return on equity 19.2% · Return on assets (EBIT) 9.8% · Operating margin 9.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 64% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at −5%, DY screens cheaper than that median.
Fair Value models
Bear$103.00Fair Value $183.07Bull$313.53
Price $192.79 · Downside -5.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 9 months old). Earnings retained since then ($8.37 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 3 officers or directors bought shares worth $551,307, most recently on Sep 23, 2026. Buying cluster
BuyCarmen M SabaterDirector350 shares at $280.62$98,217Sep 23, 2026
BuyDaniel S PeyovichPresident & CEO850 shares at $296.76$252,246Sep 9, 2026
BuyDavid Joseph FallonDirector700 shares at $286.92$200,844Sep 1, 2026
SaleEitan GertelDirector3,645 shares at $345.62$1.3MJan 9, 2026
Plus 22 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+17.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.6%
Start year 2021 (pandemic). Over 10 years: +11.8% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+40.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+40.9%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 43.4% / 14.8%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 13%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes about as much growth as the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +9.4% a year for the price and +13.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Record backlog in fiber infrastructure tied to data centers and AI needs provides solid revenue visibility, yet workforce investments and deferred wireless projects keep pressuring margins in the core communications business.
Main risk: A reduction in capital spending by major customers such as AT&T or Verizon could sharply reduce revenues and margins in the communications segment.
Bull case: By expanding data center electrical capabilities through acquisitions the company could diversify revenue away from concentrated telecom customers and capture higher-margin work.
Bear case: If major customers cut spending or rivals secure more contracts revenues could stagnate while scaling costs and pricing pressure continue to weigh on margins.
Dycom's record backlog in fiber infrastructure, much of it linked to data center and AI connectivity needs, gives solid visibility for revenues through next year. At the same time, investments in workforce capacity and the deferral of some wireless projects are pressuring margins in the core communications business. Will the company turn the expanding fiber opportunity into lasting higher profitability, or will those scaling costs keep eating into the gains?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 787 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−5.0% · Below median
Profitability
Return on equity (12 months)19.2% · Top 25%
Return on assets4.7% · Above median
Net margin (12 months)4.8% · Above median
Operating margin (12 months)9.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)45.6% · Top 25%
Balance sheet
Debt / equity1.51× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)17.6× · Pricier than median
P/B3.85× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)1.04× · Pricier than median
Price / free cash flow (fiscal year)17.8× · Pricier than median
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Is Dycom Industries Inc (DY) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of $183.07 versus a price of $192.79, about 5% lower (fairly valued).
What is the fair value of DY?
Our model-based fair value for Dycom Industries Inc is $183.07 (as of Nov 1, 2026), built from audited fundamentals. The current price: $192.79.
What is the quality score of DY?
Dycom Industries Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dycom Industries Inc (DY)?
Our model-based price target is the fair value of $183.07 (as of Nov 1, 2026) from 22 valuation models. Cautious scenario $103.00, optimistic scenario $313.53. It is a calculation from audited fundamentals, not an analyst target.
What is the Dycom Industries Inc stock forecast for 2026?
Our models put fair value at $183.07, about 5% lower versus a price of $192.79 (fairly valued). Cautious scenario $103.00, optimistic scenario $313.53. The calculation is refreshed regularly with new filings.
What is the revenue of Dycom Industries Inc (DY)?
Dycom Industries Inc reported trailing-twelve-month revenue of about $6.9B (latest available figure, as of Nov 1, 2026).
What growth is priced into Dycom Industries Inc (DY)?
For today's price to be fair in a discounted-cash-flow model, Dycom Industries Inc would have to grow free cash flow by +12.0 % per year for five years (discount rate 11.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.6 % per year. As of Nov 1, 2026.
What discount rate (WACC) does the fair value of DY use?
Our models discount Dycom Industries Inc at 11.0 %: a base by market capitalisation (mid), damped by beta 1.50, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Dycom Industries Inc that is +12.0 % per year a year over ten years, using the same discount rate (11.0 %) and the same formula as our fair value.
How much growth has Dycom Industries Inc (DY) delivered so far?
Over the past 5 years revenue at Dycom Industries Inc grew +11.6 % a year. The price currently implies +12.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Dycom Industries Inc (DY) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Dycom Industries Inc (+12.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Dycom Industries Inc (DY)?
The free-cash-flow yield on the price is 7.08 %: that much free cash flow Dycom Industries Inc produces per unit of market value. When it exceeds the discount rate of our models (11.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Dycom Industries Inc (DY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dycom Industries Inc it is $183.07 per share (as of Nov 1, 2026), against a price of $192.79. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is Dycom Industries Inc stock overvalued or undervalued in 2026?
As of Nov 1, 2026, DY trades above its calculated fair value: price $192.79, fair value $183.07, a gap of about −5% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DY?
No. The price is what the market pays today ($192.79); the fair value is what the company's own numbers justify ($183.07). For Dycom Industries Inc the two are $9.72 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dycom Industries Inc worth?
The market values Dycom Industries Inc at about $7.2B (market capitalisation, as of Nov 1, 2026). Per share that is $192.79; our models calculate a fair value of $183.07 per share.
What do the bullish and bearish scenarios say about DY?
Our models span a range for Dycom Industries Inc: cautious scenario $103.00, base $183.07, optimistic $313.53 per share (as of Nov 1, 2026, price $192.79). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of DY?
Dycom Industries Inc trades at a price-to-earnings ratio of 17.6 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $183.07 is built from several models across several years. Excluding one-off items of fiscal year 2026 it is 16.1 (reported for FY2026: 20.8). Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2018, FY2021, FY2026 ex one-offs: 24.3. Other multiples: PEG 3.5, P/B 3.9, P/S 1.0, EV/EBITDA 9.9.
What is the PEG ratio of DY?
The PEG ratio of Dycom Industries Inc is 3.50 (P/E divided by earnings growth, as of Nov 1, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Dycom Industries Inc (DY)?
Balance-sheet figures for Dycom Industries Inc (as of Nov 1, 2026): return on equity 19.2%, debt of 1.51 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is DY from its 52-week high?
Dycom Industries Inc trades at $192.79, about 64% below its 52-week high of $535.20 and at the low of $192.79 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $183.07 is for.
Which stocks are comparable to Dycom Industries Inc?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dycom Industries Inc stock attractive at the current price?
The data as of Nov 1, 2026: price $192.79, calculated fair value $183.07 (−5%), Quality Score 54/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DY calculated?
We run Dycom Industries Inc through 22 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $183.07, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Dycom Industries Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dycom Industries Inc (DY)?
The closing price on Nov 5, 2026 was $192.79. Our model-based fair value is $183.07, about 5% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dycom Industries Inc right now?
The model range is unusually wide ($103.00 to $313.53). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Where does the earnings growth of Dycom Industries Inc (DY) come from?
Earnings per share at Dycom Industries Inc grew +13.1 % a year from 2015 to 2026. Broken into its drivers: revenue per share +11.6 %, EBIT margin +8.1 %, tax rate −2.8 %, residual (interest, one-offs) −3.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Dycom Industries Inc
How large is the market capitalisation of Dycom Industries Inc (DY)?
The market capitalisation of Dycom Industries Inc is $7.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dycom Industries Inc (DY)?
The price-to-sales ratio of Dycom Industries Inc is 1.04 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dycom Industries Inc (DY)?
Earnings per share at Dycom Industries Inc are $10.95 (price ÷ EPS = P/E 17.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dycom Industries Inc (DY)?
The net margin of Dycom Industries Inc is 4.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dycom Industries Inc (DY)?
The return on equity (ROE) of Dycom Industries Inc is 19.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dycom Industries Inc (DY)?
On an EBIT basis the return on assets of Dycom Industries Inc is 9.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dycom Industries Inc (DY)?
The operating margin of Dycom Industries Inc is 9.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dycom Industries Inc (DY)?
Revenue at Dycom Industries Inc is growing +45.6% versus a year earlier (3y avg +13.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Dycom Industries Inc (DY)?
Earnings per share at Dycom Industries Inc are growing +14.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Dycom Industries Inc (DY) carry?
The net debt of Dycom Industries Inc is $2.3B (fiscal year 2026, ≈ 5.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 1, 2026