Dycom Industries Future Growth
Future criteria checks 3/6
Dycom Industries is forecast to grow earnings and revenue by 18.9% and 11.4% per annum respectively. EPS is expected to grow by 19.3% per annum. Return on equity is forecast to be 21.5% in 3 years.
Key information
18.9%
Earnings growth rate
19.34%
EPS growth rate
| Construction earnings growth | 23.2% |
| Revenue growth rate | 11.4% |
| Future return on equity | 21.52% |
| Analyst coverage | Good |
| Last updated | 15 Apr 2026 |
Recent future growth updates
Recent updates
Seeking Alpha • May 05
Why Dycom Is A Strong Buy After The Breakout (Rating Upgrade)
Summary Dycom Industries, Inc. is upgraded to a Strong Buy, driven by record results and strategic expansion, notably the Power Solutions acquisition. DY posted 34.4% Y/Y revenue growth in Q4, with backlog up 23% Y/Y and book-to-bill at 1.3x, signaling robust demand. Management forecasts 23.6%-29% revenue growth and expanding EBITDA margins, leveraging operating scale and a strong communications services base. Despite valuation and profitability grades softening, DY's growth grade improved to A-, supported by AI-driven infrastructure demand and multiyear revenue cycles. Read the full article on Seeking Alpha
Narrative Update • Apr 26
DY: New Training Campus And Buybacks Will Support Future Cash Generation
Analysts have maintained their fair value estimate for Dycom Industries at about $468 per share, making only minor adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E. These changes reflect a small refinement rather than a major reset in their price target rationale.Narrative Update • Apr 09
DY: Immersive Training Campus Will Support Future Cash Generation Upside
Analysts have raised their price target on Dycom Industries to $467.91 from $461.42, citing updated fair value estimates supported by slightly lower discount rate assumptions, modestly revised revenue growth expectations, a small increase in projected profit margins, and a higher assumed future P/E multiple. What's in the News Dycom plans to build a flagship, immersive workforce training center on a 49 acre campus in Monroe, Georgia, with support from the Development Authority of Walton County.Narrative Update • Mar 25
DY: Immersive Training Investment Will Support Future Cash Generation Upside
Analysts have kept their price target for Dycom Industries broadly steady around $461, with only small adjustments to inputs such as the discount rate and assumed future P/E multiple shaping this narrative update. What's in the News Dycom plans to build a 49 acre flagship immersive workforce training center in Monroe, Georgia, with support from the Development Authority of Walton County, targeting an opening in mid 2027 (Key Developments).Narrative Update • Mar 10
DY: Stronger Cash Generation And M&A Capacity Will Support Upside Potential
The analyst price target for Dycom Industries has been revised higher from $420.55 to $461.42 as analysts adjust their assumptions to reflect updated views on the discount rate, revenue growth, profit margins, and future P/E. What's in the News Dycom Industries issued earnings guidance for the first quarter of fiscal 2027, with expected contract revenues between US$1.64b and US$1.71b for the period ending May 2, 2026 (Key Developments).
New Narrative • Feb 28
Dycom Industries (DY): The Broadband Backbone – Scaling the Nation’s Fiber and AI Expansion
Dycom Industries (DY) is currently the dominant provider of specialty contracting services for the telecommunications infrastructure industry, and its stock has reflected this essential status. As of the February 27 close, the stock is trading at $419.95 , following a monumental 2025 where it surged over 150%.Narrative Update • Feb 24
DY: Index Reclassification And Updated Assumptions Will Support A Balanced Outlook
Analysts have raised their price target for Dycom Industries to $420.55 from $407.82, citing updated assumptions that include slightly higher revenue growth at 18.69% and a profit margin of 6.34%, partially offset by a modest change in the discount rate to 8.73% and a revised future P/E of 27.62x. What's in the News Dycom Industries, Inc.Narrative Update • Feb 09
DY: Index Inclusion Shift And Updated Guidance Will Support A Balanced Outlook
Analysts have nudged their price target on Dycom Industries slightly higher, to US$407.82 from US$405.55, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Dycom Industries, Inc.Narrative Update • Jan 26
DY: Index Shift And Updated Guidance Will Shape A Balanced Outlook
Narrative Update Analysts have lifted their price target for Dycom Industries to about US$405.55 from roughly US$392.40, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News Dycom Industries, Inc.Narrative Update • Jan 11
DY: Index Reclassification And Stronger Margin Outlook Will Drive Future Upside
Analysts have adjusted their price target on Dycom Industries slightly higher to reflect updated fair value estimates of $392.40, supported by small refinements to the discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News Dycom Industries, Inc.Narrative Update • Dec 24
DY: Index Move And Higher Margin Outlook Will Drive Future Upside
Analysts have raised their price target for Dycom Industries by about 1 percent to approximately $389, citing slightly lower discount-rate assumptions, marginally stronger long term profit margins, and a modestly higher future earnings multiple that more than offset a small reduction in projected revenue growth. What's in the News Dycom Industries was dropped from the S&P 600 and simultaneously added to the S&P 400, reflecting a shift into a mid cap index category (index constituent changes).Narrative Update • Dec 10
DY: Raised Outlook And Completed Buyback Will Shape Future Performance
Analysts have marginally increased their price target on Dycom Industries to 385.56 dollars from 385.56 dollars, reflecting slightly refined assumptions on discount rates, revenue growth, profit margins, and future valuation multiples while maintaining an overall steady outlook. What's in the News Dycom Industries raised its fiscal 2026 revenue outlook, now expecting total contract revenues of 5.350 billion to 5.425 billion dollars, implying 13.8% to 15.4% growth over the prior year (Corporate Guidance: Raised).Analysis Article • Dec 05
Dycom Industries, Inc.'s (NYSE:DY) 26% Jump Shows Its Popularity With Investors
Despite an already strong run, Dycom Industries, Inc. ( NYSE:DY ) shares have been powering on, with a gain of 26% in...Analysis Article • Nov 29
Additional Considerations Required While Assessing Dycom Industries' (NYSE:DY) Strong Earnings
Dycom Industries, Inc.'s ( NYSE:DY ) stock was strong after they recently reported robust earnings. However, we think...Narrative Update • Nov 26
DY: Share Buyback and Updated Guidance Will Influence Future Performance
Narrative Update on Dycom Industries Analysts have raised their fair value estimate for Dycom Industries from $308 to $386. This reflects increased optimism about future revenue growth, although there is a slightly lower profit margin outlook.Narrative Update • Nov 11
DY: Share Buyback and Earnings Guidance Will Shape 2025 Outlook
Narrative Update on Dycom Industries Analysts have maintained their price target for Dycom Industries at $308.44, citing steady expectations for revenue growth and profitability, even though there has been a slight increase in the discount rate and future price-to-earnings ratio assumptions. What's in the News Dycom Industries successfully completed the repurchase of 200,000 shares, representing 0.69% of outstanding shares, for a total of $30.19 million as part of the buyback program announced on February 26, 2025 (Key Developments).Narrative Update • Oct 28
Buybacks And Stimulus Will Drive Enduring Connectivity In The Coming Year
Analysts have slightly raised their price target for Dycom Industries from $304.67 to $308.44. This reflects subtle improvements in fair value estimates based on updated financial assumptions.Narrative Update • Oct 13
Expanding AI Workloads And Broadband Stimulus Will Fuel Enduring Connectivity
Analysts have raised their price target for Dycom Industries from $297.89 to $304.67. This reflects improved revenue growth forecasts, even though there is a slightly higher discount rate and marginally lower profit margins.Analysis Article • Sep 08
Calculating The Fair Value Of Dycom Industries, Inc. (NYSE:DY)
Key Insights Using the 2 Stage Free Cash Flow to Equity, Dycom Industries fair value estimate is US$208 Dycom...Narrative Update • Aug 22
Expanding AI Workloads And Broadband Stimulus Will Fuel Enduring Connectivity
Despite a moderation in Dycom Industries’ forecast revenue growth, analysts have raised their price target due to improving net profit margins, lifting the consensus fair value from $283.00 to $297.89. What's in the News Provided Q3 earnings guidance: contract revenues of $1.38–$1.43 billion and diluted EPS of $3.03–$3.36.Analysis Article • Aug 13
Dycom Industries, Inc. (NYSE:DY) Not Lagging Market On Growth Or Pricing
NYSE:DY 1 Year Share Price vs Fair Value Explore Dycom Industries's Fair Values from the Community and select yours...Analysis Article • Jul 21
Is It Time To Consider Buying Dycom Industries, Inc. (NYSE:DY)?
While Dycom Industries, Inc. ( NYSE:DY ) might not have the largest market cap around , it saw a significant share...Analysis Article • Jul 07
Dycom Industries (NYSE:DY) Seems To Use Debt Quite Sensibly
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Jun 24
There's Been No Shortage Of Growth Recently For Dycom Industries' (NYSE:DY) Returns On Capital
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • May 25
Results: Dycom Industries, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Dycom Industries, Inc. ( NYSE:DY ) just released its latest quarterly results and things are looking bullish. The...Analysis Article • May 13
Dycom Industries, Inc. (NYSE:DY) Looks Just Right With A 26% Price Jump
Dycom Industries, Inc. ( NYSE:DY ) shareholders are no doubt pleased to see that the share price has bounced 26% in the...Seeking Alpha • Feb 01
Dycom Industries: A Good Long-Term Bet
Summary Dycom Industries is poised for growth due to strong backlog, increased fiber deployments, and federal stimulus for rural broadband, making it an attractive buy. The company’s revenue growth is supported by telecom capex, federal programs, and AI adoption, providing good visibility for near-term and long-term growth. Improved pricing power and operating leverage are enhancing margins, with further margin improvement expected as new projects scale and start-up costs normalize. Trading at a discount to historical and peer valuations, Dycom offers attractive long-term growth prospects, justifying a buy rating. Read the full article on Seeking AlphaSeeking Alpha • Nov 11
Dycom Industries: A Solid Stock To Buy With The BEAD Program
Summary Dycom Industries has shown over 50% return in 2024, with BEAD expected to drive further growth, leading to a BUY rating with a $389.68 FY 2027 target price. Dycom's strong relationships with major telecom providers and its extensive geographical presence position it well to capitalize on BEAD opportunities. BEAD is anticipated to significantly boost Dycom's revenue and margin growth from FY 2026, with a peak organic growth forecast of 21%. Risks include potential political changes, permitting delays, economic conditions, and adverse weather, but the long-term upside remains highly favorable. Thereby initiating a BUY rating on DY, with a FY 2027 target price of $389.68. Read the full article on Seeking AlphaSeeking Alpha • Oct 03
Dycom Industries: Favorable Industry Trends And Strategic Acquisition
Summary DY reported strong 2Q25 earnings result as revenue grew 15.5% year-over-year. Organically, the company still grew at a respectable 9.2%. Adjusted EBITDA margin improved to 13.2%, while adjusted net income margin increased to 6%, boosting adjusted diluted EPS to $2.46. The acquisition of Black & Veatch's wireless telecommunications infrastructure business is expected to contribute $250-$275 million in FY2026 revenue and add $1 billion to DY’s backlog through 2027. Favorable industry trends, such as the upgrading of wireless and fiber networks and growing demand from AI data centers, position DY for continued growth. Read the full article on Seeking Alpha
New Narrative • Aug 29
Wireless Infrastructure Expansion And Calculated Acquisitions Propel Growth In Telecommunications Sector
Strategic acquisitions and increased demand in telecommunication infrastructure projects indicate significant revenue growth and market expansion opportunities.Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 1/31/2029 | 8,528 | 611 | 463 | 710 | 3 |
| 1/31/2028 | 7,728 | 394 | 513 | 762 | 11 |
| 1/31/2027 | 7,040 | 276 | 365 | 603 | 11 |
| 1/31/2026 | 5,546 | 281 | 402 | 643 | N/A |
| 10/25/2025 | 5,173 | 298 | 297 | 552 | N/A |
| 7/26/2025 | 4,993 | 261 | 123 | 397 | N/A |
| 4/26/2025 | 4,818 | 232 | 45 | 333 | N/A |
| 1/25/2025 | 4,702 | 233 | 99 | 349 | N/A |
| 10/26/2024 | 4,570 | 224 | 107 | 346 | N/A |
| 7/27/2024 | 4,434 | 238 | 11 | 243 | N/A |
| 4/27/2024 | 4,273 | 230 | 89 | 307 | N/A |
| 1/27/2024 | 4,176 | 219 | 40 | 259 | N/A |
| 10/28/2023 | 4,141 | 220 | -46 | 180 | N/A |
| 7/29/2023 | 4,047 | 191 | -1 | 213 | N/A |
| 4/29/2023 | 3,978 | 174 | -61 | 145 | N/A |
| 1/28/2023 | 3,808 | 142 | -36 | 165 | N/A |
| 10/29/2022 | 3,652 | 118 | -115 | 64 | N/A |
| 7/30/2022 | 3,464 | 93 | 3 | 173 | N/A |
| 4/30/2022 | 3,279 | 67 | 38 | 202 | N/A |
| 1/29/2022 | 3,131 | 49 | 152 | 309 | N/A |
| 10/30/2021 | 3,120 | 44 | 130 | 265 | N/A |
| 7/31/2021 | 3,076 | 49 | 173 | 273 | N/A |
| 5/1/2021 | 3,112 | 68 | 269 | 338 | N/A |
| 1/30/2021 | 3,199 | 34 | 324 | 382 | N/A |
| 10/24/2020 | 3,186 | 27 | 416 | 471 | N/A |
| 7/25/2020 | 3,260 | 18 | 272 | 335 | N/A |
| 4/25/2020 | 3,320 | 11 | 104 | 199 | N/A |
| 1/25/2020 | 3,340 | 57 | N/A | 58 | N/A |
| 10/26/2019 | 3,351 | 56 | N/A | 9 | N/A |
| 7/27/2019 | 3,315 | 60 | N/A | -22 | N/A |
| 4/27/2019 | 3,230 | 60 | N/A | 44 | N/A |
| 1/26/2019 | 3,128 | 63 | N/A | 124 | N/A |
| 10/27/2018 | 3,034 | 115 | N/A | 85 | N/A |
| 7/28/2018 | 2,942 | 116 | N/A | 198 | N/A |
| 4/28/2018 | 2,923 | 130 | N/A | 335 | N/A |
| 1/27/2018 | 2,978 | 151 | N/A | 353 | N/A |
| 10/28/2017 | 3,024 | 135 | N/A | 355 | N/A |
| 7/29/2017 | 3,067 | 157 | N/A | 256 | N/A |
| 4/29/2017 | 3,076 | 163 | N/A | 289 | N/A |
| 1/28/2017 | 2,954 | 157 | N/A | 279 | N/A |
| 10/29/2016 | 2,812 | 149 | N/A | 249 | N/A |
| 7/30/2016 | 2,673 | 129 | N/A | 276 | N/A |
| 4/23/2016 | 2,462 | 113 | N/A | 97 | N/A |
| 1/23/2016 | 2,290 | 100 | N/A | 105 | N/A |
| 10/24/2015 | 2,171 | 94 | N/A | 102 | N/A |
| 7/25/2015 | 2,022 | 84 | N/A | 142 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: DY's forecast earnings growth (18.9% per year) is above the savings rate (3.5%).
Earnings vs Market: DY's earnings (18.9% per year) are forecast to grow faster than the US market (16.4% per year).
High Growth Earnings: DY's earnings are forecast to grow, but not significantly.
Revenue vs Market: DY's revenue (11.4% per year) is forecast to grow slower than the US market (11.4% per year).
High Growth Revenue: DY's revenue (11.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: DY's Return on Equity is forecast to be high in 3 years time (21.5%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 03:23 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/01/31 |
| Annual Earnings | 2026/01/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Dycom Industries, Inc. is covered by 16 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Michael Funk | BofA Global Research |
| Liam Burke | B. Riley Securities, Inc. |
| Alfred Moore | Canaccord Genuity |