DYCOM INDUSTRIES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data DYCOM INDUSTRIES INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	2,673	3,067	3,128	3,340	3,199	3,131	3,808	4,176	4,702	5,546
Cost of revenue			2,562	2,780	2,642	2,634	3,160	3,362	3,770	4,406
Gross profit			565	560	557	497	648	814	932	1,140
General and administrative	217	239	269	255	260	262	293	328	393	445
Other non-operating income	10.4	12.8	15.8	11.7	8.6	4.45	10.2	21.6	29.2	16.6
Pre-tax income	206	250	88	78.5	59.2	52.8	180	292	308	368
Income tax	77.6	93.2	25.1	21.3	24.9	4.2	37.9	73.1	74.4	86.7
Net income	129	157	62.9	57.2	34.3	48.6	142	219	233	281
EPS, basic	3.98	5.01	2.01	1.82	1.08	1.60	4.81	7.46	8.02	9.68
EPS, diluted	3.89	4.92	1.97	1.80	1.07	1.57	4.74	7.37	7.92	9.56
Shares, basic (weighted)	32.3	31.4	31.3	31.5	31.7	30.3	29.5	29.3	29.1	29.1
Shares, diluted (weighted)	33.1	32	32	31.8	32.1	30.8	30	29.7	29.5	29.4

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	33.8	38.6	128	54.6	11.8	311	224	101	92.7	709
Receivables	328	370	625	817	858	896	1,067	1,243	1,374	1,697
Inventory	73.6	83.2	94.4	98.3	70.8	81.3	115	109	127	128
Other current assets	16.1	23.6	29.1	32	29.1	30.9	38.6	42.3	34.6	40.2
Total current assets	851	939	1,096	1,258	1,169	1,356	1,493	1,550	1,695	2,757
Property, plant and equipment	327	422	425	377	274	295	368	445	542	575
Lease right-of-use assets			0	69.6	63.2	61.1	67.2	76.3	112	170
Goodwill	310	322	326	326	272	272	273	312	330	1,443
Intangible assets	198	184	161	140	119	102	86.6	109	220	926
Other non-current assets	33.8	33.4	89.4	47.4	46.6	31.9	26.4	24.6	46.6	108
Total assets	1,720	1,899	2,098	2,218	1,944	2,118	2,313	2,517	2,945	5,979
Accounts payable	115	133	119	120	159	156	208	222	223	497
Short-term debt	13.1	21.7	5.63	22.5	81.7	17.5	17.5	17.5	10	4
Total current liabilities	323	319	285	323	448	382	470	506	587	1,007
Long-term debt	706	738	868	844	502	823	807	791	933	2,810
Lease liabilities			0	43.6	38.4	36.5	39.6	44.1	76.9	135
Other non-current liabilities	4.18	5.29	6.49	6.44	26.6	14.2	18.4	21.4	27	24.3
Total liabilities	1,162	1,228	1,293	1,349	1,133	1,360	1,444	1,462	1,706	4,120
Total debt	719	760	873	867	583	841	825	809	943	2,814
Paid-in capital	10.2	10.1	22.5	30.2	2.28	2.03	5.65	6.22	8.99	382
Retained earnings	538	652	772	830	801	748	855	1,040	1,220	1,467
Other comprehensive income	-1.27	-1.16	-1.28	-1.78	-1.77	-1.77	-1.77	-1.55	0
Shareholders' equity	557	672	804	869	811	759	869	1,055	1,239	1,859
Total equity	557	672	804	869	811	759	869	1,055	1,239	1,859
Total liabilities and equity	1,720	1,899	2,098	2,218	1,944	2,118	2,313	2,517	2,945	5,979
Shares outstanding	31.4	31.1	31.4	31.6	30.6	29.6	29.4	29.1	29	30

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	129	157	62.9	57.2	34.3	48.6	142	219	233	281
Depreciation and amortization	125	148	180	188	176	153	144	163	199	270
Stock-based compensation	16.9	20.8	20.2	10	12.8	9.87	17.9	25.5	40.3	34.5
Deferred income tax	26.8	18.2	8.52	9.26	-28.2	8.02	4.53	-10.6	-17.4	53
Change in receivables	2.73	-33.1	-30.8	-196	-41.8	-40.7	-174	-142	-118	-0.84
Change in payables	15.1	0.98	20.1	-2.14	43.7	-4.91	49.4	6.99	-16.8	223
Cash from operations	276	256	124	58	382	309	165	259	349	643
Capital expenditures	-186	-201	-165	-121	-58	-157	-201	-218	-250	-241
Acquisitions	-157	-26.1	-20.9	0	0	0	-0.35	-123	-184	-1,629
Cash from investing	-333	-209	-161	-101	-44.6	-152	-184	-306	-395	-1,836
Debt issued				0	0	500	0	0	0	600
Debt repaid	-278	0	0	-25				0	0	-600
Stock issued	2.75	1.45	0.87	0.5	5.74	2.26	4.6	1.1	10.6	3.9
Share buybacks	-170	-62.9	0	0	-100	-106	-48.7	-49.7	-65.6	-30.2
Cash from financing	69.9	-42.5	80.9	-31.1	-383	142	-67.4	-75.9	37.7	1,810
Net change in cash	13	5.22	44	-74.3	-46.3	299	-86.6	-123	-8.42	616
Free cash flow	89.7	55.2	-40.5	-62.6	324	152	-36.2	40.5	98.6	402
Interest paid	15.9	16.5	22.3	26.7	20.7	22.1	37.9	50.7	57.9	62.3
Income taxes paid	31.2	88.1	6.4	12	45.3	8.6	6.92	96.6	61.5	84.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to August 1, 2026; growth uses fiscal years. Valuation uses the share price of $271.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	20.5%	Gross profit / revenue.
Pre-tax margin	6.1%	Pre-tax income / revenue.
Net margin	4.8%	Net income / revenue.
FCF margin	6.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.4%	Cash from operations / revenue.
Effective tax rate	21.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	16.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.0%	Net income / average total assets.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	3.6%	Capital expenditures / revenue.
D&A / revenue	5.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	17.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	13.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	22.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	20.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	20.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	25.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	52.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	20.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	26.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	55.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	84.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	57.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	307.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	4.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	50.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	28.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	18.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	103.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	37.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	25.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.35x	Current assets / current liabilities.
Quick ratio	2.01x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.26x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.37x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	43.1%	Total debt / total assets.
Liabilities / assets	68.4%	Total liabilities / total assets.
Net debt	$2.48B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$1.75B	Current assets - current liabilities.
Goodwill and intangibles / assets	38.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$470.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.05x	Revenue / average total assets.
Fixed asset turnover	11.2x	Revenue / average property, plant and equipment.
Inventory turnover	37.5x	Cost of revenue / average inventory.
Days inventory	10 days	365 x average inventory / cost of revenue.
Receivables turnover	3.02x	Revenue / average receivables.
Days sales outstanding	121 days	365 x average receivables / revenue.
Days payables	41 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	90 days	Days inventory + days sales outstanding - days payables.
FCF conversion	142.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	34.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$10.85	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$226.59	Revenue / diluted weighted shares.
FCF per share	$15.44	Free cash flow / diluted weighted shares.
Operating cash flow per share	$23.65	Cash from operations / diluted weighted shares.
Book value per share	$68.44	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$15.60	Tangible book value / shares outstanding.
Cash per share	$11.28	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	7.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$8.15B	Share price x shares outstanding.
Enterprise value	$10.63B	Market cap + total debt - cash - short-term investments.
P/E	24.7x	Market cap / net income. Only when net income is positive.
P/S	1.19x	Market cap / revenue.
P/B	3.95x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	17.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.4x	Market cap / cash from operations, when positive.
EV/Sales	1.55x	Enterprise value / revenue.
EV/FCF	22.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.7%	Free cash flow / market cap.
Earnings yield	4.0%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.4%	(Dividends paid + share buybacks) / market cap.
PEG	0.94x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was DYCOM INDUSTRIES INC's revenue in fiscal 2026?

DYCOM INDUSTRIES INC reported revenue of $5.55B for fiscal 2026, 17.9% higher than the year before.

Was DYCOM INDUSTRIES INC profitable in fiscal 2026?

Yes. Net income was $281.2M, a net margin of 5.1%.

How much free cash flow did DYCOM INDUSTRIES INC generate in fiscal 2026?

Cash from operations of $642.5M minus capital expenditures of $240.8M left free cash flow of $401.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to DYCOM INDUSTRIES INC