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DY

Dycom Industries, Inc.

DY

Dycom Industries, Inc. • NYSE
$361.53 ▲ 1.85% (+6.57)
Market Cap $10.47 B
52w High $364.40
52w Low $131.37
Dividend Yield 0%
P/E 35.58
Volume 173.05K
Outstanding Shares 28.95M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2026 $1.452B ▲ $107.235M ▲ $106.365M ▲ 7.326% ▲ $3.67 ▲ $216.203M ▲
Q2-2026 $1.378B ▲ $106.794M ▲ $97.483M ▲ 7.075% ▲ $3.37 ▲ $207.53M ▲
Q1-2026 $1.259B ▲ $103.726M ▲ $61.048M ▲ 4.85% ▲ $2.11 ▲ $151.034M ▲
Q4-2025 $1.085B ▼ $88.115M ▼ $32.67M ▼ 3.012% ▼ $1.12 ▼ $115.081M ▼
Q3-2025 $1.272B $110.777M $69.789M 5.487% $2.39 $160.744M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2026 $110.109M ▲ $3.325B ▲ $1.842B ▼ $1.483B ▲
Q2-2026 $28.46M ▲ $3.22B ▲ $1.85B ▲ $1.37B ▲
Q1-2026 $26.519M ▼ $3.105B ▲ $1.839B ▲ $1.266B ▲
Q4-2025 $104.002M ▲ $2.945B ▼ $1.706B ▼ $1.239B ▲
Q3-2025 $15.269M $3.115B $1.881B $1.234B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2026 $106.366M ▲ $220.027M ▲ $-47.59M ▼ $-90.788M ▼ $81.649M ▲ $164.812M ▲
Q2-2026 $97.482M ▲ $57.444M ▲ $-39.094M ▲ $-6.009M ▼ $12.341M ▲ $5.755M ▲
Q1-2026 $61.048M ▲ $-53.966M ▼ $-68.599M ▼ $45.914M ▲ $-76.651M ▼ $-133.465M ▼
Q4-2025 $32.67M ▼ $328.217M ▲ $-59.77M ▲ $-191.046M ▼ $77.401M ▲ $259.725M ▲
Q3-2025 $69.789M $65.791M $-216.476M $146.39M $-4.295M $-8.787M

Five-Year Company Overview

Income Statement

Income Statement Dycom’s income statement shows a business that has grown meaningfully over the last several years and is converting that growth into better profitability. Revenue has climbed at a healthy pace, especially in the most recent years, as telecom, fiber, and related infrastructure spending have increased. At the same time, both gross margins and operating margins have improved, indicating better pricing, scale benefits, and stronger execution on projects. Earnings have grown much faster than sales, which suggests the company is gaining operating leverage as it grows. The main caveat is that Dycom still operates in a cyclical, project-driven industry where results can swing with customer capital spending, but the recent trend is clearly one of stronger and more efficient operations.

Balance Sheet

Balance Sheet The balance sheet reflects a company that has scaled up while taking on more financial obligations to support that growth. Total assets have expanded, showing investment in equipment, acquisitions, and capabilities. Debt has increased over time, which boosts financial leverage but also raises sensitivity to interest costs and downturns. Equity has also risen, which indicates that retained profits are building the company’s capital base. Cash on hand is modest relative to the size of the business, so Dycom relies more on its ongoing cash generation and credit access than on a large cash cushion. Overall, the balance sheet appears stronger than a few years ago, but with a clear dependence on continued solid performance to comfortably service its obligations.

Cash Flow

Cash Flow Cash flow generation is positive and improving, but not without some year‑to‑year volatility. Operating cash flow has generally trended upward, showing that profits are translating into real cash over time, though working capital swings can create bumps along the way. Free cash flow has been positive in most years but occasionally dips when investment needs spike. Capital spending has risen meaningfully, reflecting a deliberate choice to reinvest in fleet, equipment, and growth initiatives rather than maximize short‑term cash. This pattern is consistent with a company in expansion mode: cash flows are adequate to support growth, but there is less surplus left over, and careful management of project timing and customer payments remains important.

Competitive Edge

Competitive Edge Dycom holds a strong position in a niche but critical part of the infrastructure ecosystem. Its main advantages are scale, a national footprint, and long-standing relationships with major telecom and utility customers. Multi‑year service agreements and repeat work create a degree of revenue visibility that many contractors lack, and its large, trained workforce is difficult for smaller rivals to replicate quickly. The company’s expertise in complex deployments like fiber‑to‑the‑home and 5G buildouts further differentiates it from general contractors. On the risk side, Dycom is still heavily tied to a relatively small group of large customers whose capital spending plans can change, and the work is inherently competitive and execution‑sensitive. Nonetheless, within its specialty segment, Dycom operates from a position of strength.

Innovation and R&D

Innovation and R&D Innovation at Dycom is practical and execution‑oriented rather than lab‑style R&D. The company leans on advanced project management tools, mapping technologies, and data analytics to plan and run large, complex field operations more efficiently. It has been modernizing its IT backbone, including cloud migration, to improve agility and coordination across its footprint. Dycom’s “innovation” also shows up in how it repeatedly adapts to industry shifts—from fiber rollouts to 4G, 5G, and now infrastructure supporting AI and data centers. The acquisition-driven push into data center electrical infrastructure and early moves into renewables broaden its opportunity set. While Dycom does not appear to rely on proprietary technology, its ability to integrate new tools, anticipate customer needs, and translate that into reliable field execution forms a meaningful competitive edge.

Summary

Dycom today looks like a scaled infrastructure enabler riding multi‑year themes: fiber expansion, 5G, data centers, and potentially renewables. Financially, it has moved from modest profitability to clearly stronger margins and earnings growth, backed by expanding operations and a larger asset base. The trade‑off is higher leverage, relatively lean cash reserves, and continued capital intensity, all of which increase the importance of steady customer spending and disciplined project management. Strategically, the company’s scale, relationships, and specialized workforce anchor a solid competitive position in telecom and utility contracting, while its entry into data centers and use of technology to improve execution point to additional growth avenues. Overall, Dycom comes across as an infrastructure growth platform with improving fundamentals, but also with the typical sensitivities of a capital‑intensive, customer‑concentrated, project‑driven business.

NEWS

November 25, 2025 · 4:30 PM UTC

Dycom Industries, Inc. to Participate in Upcoming Investor Conferences

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November 19, 2025 · 7:02 AM UTC

Dycom Industries to Acquire Power Solutions, Premier Data Center Electrical Contractor, Positioning the Company for Accelerated Growth in Digital and Data Center Infrastructure Services

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November 19, 2025 · 6:58 AM UTC

Dycom Industries, Inc. Reports Fiscal 2026 Third Quarter Results

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November 10, 2025 · 8:00 AM UTC

Dycom Industries, Inc. Appoints Stephen O. LeClair to Board of Directors

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November 7, 2025 · 8:00 AM UTC

Dycom Industries, Inc. to Host Fiscal 2026 Third Quarter Results Conference Call

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