Dycom Industries, Inc. (DY)
Industrials · NYQ · US
Fundamentals
Valuation and ratings
Dycom Industries, Inc. trades at USD412.86, close to the USD388.47 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 40 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 40.6 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Dycom Industries, Inc.
Dycom Industries, Inc. provides specialty contracting services to the digital infrastructure, telecommunications infrastructure, and utility industries in the United States. It operates through Communications and Building Systems segments. The company offers engineering services to telecommunications providers, including the planning and design of aerial, underground, and buried fiber optic, copper, and coaxial cable systems; placement of cables, related structures, and drop lines for telephone companies and cable multiple system operators; program and project management, and inspection personnel; and wireless networks in connection with the deployment of macro cell and new small cell sites. It also provides construction, maintenance, and installation services, such as placement and splicing of copper, fiber, and coaxial cables; tower construction, lines and antenna installation, foundation and equipment pad construction, and small cell site placement for wireless carriers, as well as equipment installation and material fabrication, and site testing services; underground facility locating services, including locating telephone, cable television, power, water, sewer, and gas lines for utility companies; installation and maintenance of customer premise equipment for electric and gas utilities, and other customers. Dycom Industries, Inc. was incorporated in 1969 and is based in West Palm Beach, Florida.
DY passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
12 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Israel Englander, MILLENNIUM MANAGEMENT LLC$273.01M · 0.1% of book
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$134.25M · 0.1% of book
- Steve Cohen, Point72 Asset Management, L.P.$44.47M · 0.1% of book
- Ken Griffin, CITADEL ADVISORS LLC$25.33M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$20.41M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is Dycom Industries, Inc. (DY) undervalued?
Against our discounted cash flow estimate of USD388.47, DY at USD412.86 is 6% above fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own DY?
12 of the institutions we track reported a position in DY in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is DY's P/E ratio?
DY trades at 40.6 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for DY, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.