Dycom Industries, Inc. DY
Dycom's selloff to $294.34 (RSI 22.9, well below the 50-day at $418 and 200-day at $394) appears overdone given Q2 2027 EPS of $5.29 beat the $4.62 consensus, revenue topped estimates, and management raised the FY2027 revenue outlook on record backlog. FY2026 fundamentals show operating margin expansion to 12.53% from 7.24%, revenue growth of 17.95%, and FCF of $401.7M, yet the stock trades at EV/EBITDA of 10.25x — a 38% discount to the peer median of 16.54x.
The Q3 guidance softness stems from a $150M wireless revenue deferral, a timing issue rather than demand destruction, supporting accumulation at these deeply oversold levels.
What could go wrong
- Debt burden. Total debt nearly tripled to $2.99B from $1.06B in FY2025, increasing financial risk if revenue growth slows.
- Q3 guidance miss. Q3 adjusted earnings guidance midpoint came in below Wall Street estimates, prompting analyst forecast cuts and accelerating the selloff.
- Technical breakdown. Stock trades well below both the 50-day ($418) and 200-day ($394) moving averages with MACD at -26.55 vs signal at -15.03, confirming downtrend momentum.
- Insider net selling. Over the trailing 24 months, insider net disposition value totaled -$30.2M despite small acquisitions in early August.
What would change my mind
Where this comes from: Zacks news article (2026-08-26) · Zacks/MarketBeat news articles (2026-08-26) · Zacks earnings call coverage (2026-08-27) · FMP derived_metrics FY2026 vs FY2025. Orin's read on DY; not advice.
Twelve months actual closes to 2026-09-24 · actual filings
50-day average 200-day average · volume below
On file
All DY filingsLargest holders · 13F Q2 2026
Money flow| Filer | Position | Of fund |
|---|---|---|
| Peconic Partners | $2.2B | 27.9% of fund |
| Vanguard Capital Management | $684.1M | 0.0% of fund |
| Vanguard Portfolio Management | $646.1M | 0.0% of fund |
| Fmr | $473.4M | 0.0% of fund |
| State Street | $473.1M | 0.0% of fund |
| Geode Capital Management | $334.1M | 0.0% of fund |
89 filers · quarter ended Q2 2026 · positions, not flows
Insiders, last 24 months: 97 Form 4 filings, net −$11.1M. Of the 50 on hand, 3 were open-market purchases and 1 a sale— the rest are grants, option exercises and tax withholding.
Ask Orin about DY
Orin answers questions about DY from its filings, transcripts and numbers — with the source behind every claim. Your own desk starts with 3 free days, card required.
Start 3 free days →Where it trades
| Metric | Now | Own median | Sector |
|---|---|---|---|
| P/E | 24.5× | — | 44.5× |
| EV/EBITDA | 9.3× | — | — |
| P/S | 1.19× | — | — |
| P/B | 4.0× | — | — |
7.9%
free-cash-flow growth every year for 10 years, discounted at 10%, is what today’s price implies — starting from $0.4B of trailing free cash flow. It is an assumption the market is making, not a forecast Orin is making.
What Wall Street published
$508
$375 – $654 · +86% against today's price
- 21 buy or overweight
- 1 hold
- 0 underweight or sell
The analysts’ consensus and their own ratings, not Orin’s. A target is a twelve-month opinion published by the firm that wrote it.
Against the companies it is compared to
| Company | Market cap | P/E | EV/EBITDA | Gross | Net | ROE |
|---|---|---|---|---|---|---|
| DYDycom Industries, Inc. | $8B | 24.5× | 9.3× | 19.0% | 4.8% | 18% |
| FLRFluor Corporation | $7B | — | — | -0.8% | -12.8% | -57% |
| IESCIES Holdings, Inc. | $13B | 28.1× | 21.3× | 25.9% | 11.4% | 44% |
| PRIMPrimoris Services Corporation | $4B | 28.0× | 15.7× | 8.6% | 1.9% | 8% |
| TTEKTetra Tech, Inc. | $9B | 20.1× | 14.3× | 18.8% | 8.6% | 24% |
| ZWSZurn Elkay Water Solutions Corporation | $8B | 28.2× | 22.4× | 44.8% | 15.9% | 17% |
The median is of the 4 peers listed above and nothing else — check it against the column. This company trades 12.5% below it. The peer set is the vendor’s, so a company can appear here that a person would not have chosen.
What it has traded at
What its sector has traded at
Two scales, drawn separately on purpose: a sector median and one company’s multiple are not the same number and putting them on one axis invites a comparison neither series supports.
Every estimate on one scale
The vertical rule is the current price. Ranges and point estimates are the backend’s, published as they were calculated; an arrow means the estimate sits beyond this scale, and its number is on the right.