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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.1 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Dycom Industries's Beneish M-Score or its related term are showing as below:
STU:DYI'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.48 Med: -2.57 Max: -2.08
Current: -2.1
During the past 13 years, the highest Beneish M-Score of Dycom Industries was -2.08. The lowest was -3.48. And the median was -2.57.
The historical data trend for Dycom Industries's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
STU:DYI vs IESC, J, ACM: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Dycom Industries's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Dycom Industries Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Dycom Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dycom Industries's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Dycom Industries for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.0958
+
0.528 * 0.9714
+
0.404 * 2.0419
+
0.892 * 1.2033
+
0.115 * 0.8257
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9065
+
4.679 * -0.058188
-
0.327 * 1.1938
=
-2.14
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(195.572 / (195.572 + 604.635))
/
(276.031 / (276.031 + 656.49))
=
0.244402
/
0.296005
=
0.8257
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(266.828 - 0.527
-
573.779)
/
5284.242
=
-0.058188
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Dycom Industries has a M-score of -2.14 suggests that the company is unlikely to be a manipulator.
Dycom Industries (STU:DYI) has a Beneish M-Score of -2.10 as of Aug. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dycom Industries and its competitors. According to the industry distribution chart, Dycom Industries ranks #1235 out of 1696 companies in the Construction industry, placing it in the top 72.8%.
Is Dycom Industries' Beneish M-Score too high?
Dycom Industries' current Beneish M-Score is -2.10. Based on the distribution chart, Dycom Industries ranks #1235 out of 1696 companies in the Construction industry, which is below the industry midpoint. Overall, Dycom Industries has a GF Score™ of 87/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dycom Industries' Beneish M-Score compare to IESC and J?
According to the Construction industry distribution chart, Dycom Industries ranks #1235 out of 1696 companies for Beneish M-Score. This places Dycom Industries in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Construction company?
A good Beneish M-Score depends on the Construction industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dycom Industries and its competitors. Dycom Industries's current Beneish M-Score is -2.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dycom Industries stock overvalued right now?
Based on GuruFocus' analysis, Dycom Industries (STU:DYI) is currently considered Significantly Overvalued. The stock's GF Value™ is €236.84, compared to a current price of €347.40 — trading 46.7% above its estimated fair value. The current Beneish M-Score is -2.10. Dycom Industries' overall GF Score™ is 87/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Dycom Industries (STU:DYI), the current Beneish M-Score is -2.10 as of Aug. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Dycom Industries (STU:DYI) Overvalued in 2026?
Based on GuruFocus' analysis, Dycom Industries stock appears to be overvalued.
The current stock price of €347.40 is trading 46.7% above its estimated GF Value™ of €236.84.
GuruFocus considers Dycom Industries to be Significantly Overvalued.
Key valuation signals for STU:DYI:
Beneish M-Score: -2.10
GF Value™: €236.84 vs. price of €347.40 (46.7% above fair value)
No single metric tells the full story. See the STU:DYI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dycom Industries Inc is a provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. The company has two reporting segments: Communications and Building Systems. The Communications segment provides specialty contracting services, including program management, planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications and digital infrastructure providers. The Building Systems segment specializes in providing comprehensive building infrastructure solutions, including electrical, energy management, security, and fire safety systems for data centers and other critical facilities. The firm generates key revenue from Communications.
87GF Score
Get the complete analysis for STU:DYI
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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