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Engineering & construction · Industrials · Fiscal year ends Jan 30
Dycom Industries reported revenue of $5.5B in the fiscal year ended Jan 2026, up 17.9% from the year before. Net income was $281M. Operating cash flow of $643M less capital expenditure of $241M left free cash flow of $402M. Net debt was $2.1B.
Ranks among the 23 engineering & construction companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 3,131 | 3,808 | 4,176 | 4,702 | 5,546 |
| Cost of revenue | 2,634 | 3,160 | 3,362 | 3,770 | 4,406 |
| Gross profit | 497 | 648 | 814 | 932 | 1,140 |
| Net interest incomeBanks | −33.2 | −40.6 | −52.6 | −61.0 | −66.5 |
| Pre-tax income | 52.8 | 180 | 292 | 308 | 368 |
| Income tax | 4.2 | 37.9 | 73.1 | 74.4 | 86.7 |
| Net income | 48.6 | 142 | 219 | 233 | 281 |
| Diluted EPS | 1.57 | 4.74 | 7.37 | 7.92 | 9.56 |
| Diluted shares | 30.8 | 30.0 | 29.7 | 29.5 | 29.4 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 311 | 224 | 101 | 92.7 | 709 |
| Receivables | 896 | 1,067 | 1,243 | 1,374 | 1,697 |
| Inventory | 81.3 | 115 | 109 | 127 | 128 |
| Current assets | 1,356 | 1,493 | 1,550 | 1,695 | 2,757 |
| Net PP&E | 295 | 368 | 445 | 542 | 575 |
| Goodwill | 272 | 273 | 312 | 330 | 1,443 |
| Total assets | 2,118 | 2,313 | 2,517 | 2,945 | 5,979 |
| Payables | 156 | 208 | 222 | 223 | 497 |
| Deferred revenue | 18.5 | 19.5 | 39.1 | 73.5 | 159 |
| Current liabilities | 382 | 470 | 506 | 587 | 1,007 |
| Short-term debt | 17.5 | 17.5 | 17.5 | 10.0 | 4.0 |
| Long-term debt | 823 | 807 | 791 | 933 | 2,810 |
| Total liabilities | 1,360 | 1,444 | 1,462 | 1,706 | 4,120 |
| Shareholders' equity | 759 | 869 | 1,055 | 1,239 | 1,859 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 309 | 165 | 259 | 349 | 643 |
| Capital expenditure | 157 | 201 | 218 | 250 | 241 |
| Free cash flow | 152 | −36.2 | 40.5 | 98.6 | 402 |
| Depreciation & amortisation | 153 | 144 | 163 | 199 | 270 |
| Stock-based compensation | 9.9 | 17.9 | 25.5 | 40.3 | 34.5 |
| Acquisitions | 0.0 | 0.4 | 123 | 184 | 1,629 |
| Share buybacks | 106 | 48.7 | 49.7 | 65.6 | 30.2 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 21.7% | 9.6% | 12.6% | 17.9% |
| EPS growth (YoY) | – | 201.9% | 55.5% | 7.5% | 20.7% |
| Gross margin | 15.9% | 17.0% | 19.5% | 19.8% | 20.6% |
| Net margin | 1.6% | 3.7% | 5.2% | 5.0% | 5.1% |
| Return on equityBlank when equity is negative | 6.4% | 16.4% | 20.8% | 18.8% | 15.1% |
| Free cash flow margin | 4.8% | −0.9% | 1.0% | 2.1% | 7.2% |
| Cash conversion (CFO ÷ net income) | 6.35x | 1.16x | 1.18x | 1.50x | 2.28x |
| Receivable days | 104 | 102 | 109 | 107 | 112 |
| Inventory days | 11 | 13 | 12 | 12 | 11 |
| Payable days | 22 | 24 | 24 | 22 | 41 |
| Debt ÷ equity | 1.11x | 0.95x | 0.77x | 0.76x | 1.51x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 530 | 601 | 708 | 851 | 2,105 |
| Current ratio | 3.55x | 3.18x | 3.06x | 2.89x | 2.74x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.