DY (Dycom Industries) Operating Income: $483 Mil (TTM As of Apr. 2026)


DY Dycom Industries Inc DY
86 GF Score
Price $425.72
GF Value $269.67
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Dycom Industries Operating Income?

Dycom Industries DY -0.35% 86 Operating Income is $483 Mil as of Apr. 2026. GuruFocus rates DY with a GF Score™ of 86/100 and a GF Value™ of $269.67 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Dycom Industries's Operating Income for the three months ended in Apr. 2026 was $144 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 was $483 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Dycom Industries's Operating Income for the three months ended in Apr. 2026 was $144 Mil. Dycom Industries's Revenue for the three months ended in Apr. 2026 was $1,965 Mil. Therefore, Dycom Industries's Operating Margin % for the quarter that ended in Apr. 2026 was 7.32%.

Good Sign:

Dycom Industries Inc operating margin is expanding. Margin expansion is usually a good sign.

Dycom Industries's 5-Year average Growth Rate for Operating Margin % was 21.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Dycom Industries's annualized ROC % for the quarter that ended in Apr. 2026 was 10.45%. Dycom Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was 73.89%.


Dycom Industries  (NYSE:DY) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Dycom Industries's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2026 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=575.016 * ( 1 - 14.45% )/( (4626.805 + 4784.551)/ 2 )
=491.926188/4705.678
=10.45 %

where

Invested Capital(Q: Jan. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5979.182 - 643.212 - ( 709.165 - max(0, 1006.9 - 2756.895+709.165))
=4626.805

Invested Capital(Q: Apr. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6180.4 - 857.023 - ( 538.826 - max(0, 1149.36 - 2970.357+538.826))
=4784.551

Note: The Operating Income data used here is four times the quarterly (Apr. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Dycom Industries's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2026  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=568.976/( ( (745.024 + max(27.119, 0)) + (767.825 + max(-28.618, 0)) )/ 2 )
=568.976/( ( 772.143 + 767.825 )/ 2 )
=568.976/769.984
=73.89 %

where Working Capital is:

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(819.225 + 128.349 + 40.157) - (643.212 + 158.503 + 158.897)
=27.119

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(877.64 + 143.29 + 49.039) - (857.023 + 155.812 + 85.752)
=-28.618

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Dycom Industries's Operating Margin % for the quarter that ended in Apr. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Apr. 2026 )/Revenue (Q: Apr. 2026 )
=143.754/1964.782
=7.32 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Dycom Industries Operating Income Related Terms


Dycom Industries Operating Income Historical Data

* Premium members only.

The historical data trend for Dycom Industries's Operating Income 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.

Dycom Industries Operating Income Chart

Dycom Industries Annual Data
Trend Jul16 Jul17 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 81.56 210.54 322.99 340.54 425.07

Dycom Industries Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 85.38 139.85 150.75 49.09 143.75
DY
86GF Score
Dycom Industries Inc DY
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Dycom Industries Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $483 Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $483 Mil mean?
Dycom Industries (DY) has a Operating Income of $483 Mil as of Apr. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Dycom Industries and its competitors.
Is Dycom Industries' Operating Income too high?
Dycom Industries' current Operating Income is $483 Mil. Overall, Dycom Industries has a GF Score™ of 86/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dycom Industries' Operating Income compare to J and IESC?
Dycom Industries' Operating Income of $483 Mil can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Construction company?
A good Operating Income depends on the Construction industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Dycom Industries and its competitors. Dycom Industries's current Operating Income is $483 Mil. 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 (DY) is currently considered Significantly Overvalued. The stock's GF Value™ is $269.67, compared to a current price of $425.72 — trading 57.9% above its estimated fair value. The current Operating Income is $483 Mil. Dycom Industries' overall GF Score™ is 86/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Dycom Industries (DY), the current Operating Income is $483 Mil as of Apr. 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 (DY) Overvalued in 2026?

Based on GuruFocus' analysis, Dycom Industries stock appears to be overvalued. The current stock price of $425.72 is trading 57.9% above its estimated GF Value™ of $269.67. GuruFocus considers Dycom Industries to be Significantly Overvalued.

Key valuation signals for DY:

  • Operating Income: $483 Mil
  • GF Value™: $269.67 vs. price of $425.72 (57.9% above fair value)
  • GF Score™: 86/100 with 3 warning signs

No single metric tells the full story. See the DY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Dycom Industries Business Description

Other Exchanges DYI:Germany
Address 300 Banyan Boulevard, Suite 1101, West Palm Beach, FL, USA, 33401
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.
86GF Score

Get the complete analysis for DY

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$425.72
Price
$269.67
GF Value