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Dycom IndustriesDY -5.27%86 Owner Earnings per Share (TTM) is 13.42 as of Apr. 2026, which is 55% below its 10-year median of 29.63. GuruFocus rates DY with a GF Score™ of 86/100 and a GF Value™ of $272.89 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 849 Construction companies, Dycom Industries ranks worse than 75.27% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Dycom Industries's Owner Earnings per Share (TTM) ended in Apr. 2026 was $13.42. It's Price-to-Owner-Earnings ratio for today is 29.95.
The historical rank and industry rank for Dycom Industries's Owner Earnings per Share (TTM) or its related term are showing as below:
DY'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 8.19 Med: 29.63 Max: 459.59
Current: 29.95
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Dycom Industries Owner Earnings per Share (TTM) Related Terms
Dycom Industries Owner Earnings per Share (TTM) Historical Data
* Premium members only.
The historical data trend for Dycom Industries's Owner Earnings per Share (TTM) 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 Owner Earnings per Share (TTM) Chart
DY vs IESC, J, ACM: Owner Earnings per Share (TTM) Comparison
For the Engineering & Construction subindustry, Dycom Industries's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings 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 Price-to-Owner-Earnings vs Construction Industry
For the Construction industry and Industrials sector, Dycom Industries's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Dycom Industries's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Dycom Industries's Change In Deferred Tax for the trailing twelve months (TTM) ended in Apr. 2026 was $64 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $176 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Dycom Industries's 5-Year Average Maintenance Capital Expenditure = $176 Mil
5. "Change In Working Capital" is from cashflow statement. Dycom Industries's Change In Working Capital for the trailing twelve months (TTM) ended in Apr. 2026 was $-115 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* 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.
What does a Owner Earnings per Share (TTM) of 13.42 mean?
Dycom Industries (DY) has a Owner Earnings per Share (TTM) of 13.42 as of Apr. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Dycom Industries. This is 55% below median its historical median of 29.63. Over the past decade, Dycom Industries' Owner Earnings per Share (TTM) has ranged from 8.19 to 459.59. According to the industry distribution chart, Dycom Industries ranks #639 out of 849 companies in the Construction industry, placing it in the top 75.3%.
Is Dycom Industries' Owner Earnings per Share (TTM) too high?
Dycom Industries' current Owner Earnings per Share (TTM) of 13.42 is 55% below median its 10-year median of 29.63. Over the past 10 years, this metric has ranged from a low of 8.19 to a high of 459.59. The Construction industry median Owner Earnings per Share (TTM) is 13.28. Dycom Industries' value of 13.42 is 1.1% above this industry median. Based on the distribution chart, Dycom Industries ranks #639 out of 849 companies in the Construction industry, which is in the bottom quartile relative to peers. 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' Owner Earnings per Share (TTM) compare to IESC and J?
According to the Construction industry distribution chart, Dycom Industries ranks #639 out of 849 companies for Owner Earnings per Share (TTM). This places Dycom Industries in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 13.28. Dycom Industries' value of 13.42 is 1.1% above this benchmark. Historically, Dycom Industries' own Owner Earnings per Share (TTM) has ranged from 8.19 to 459.59 over the past decade. While the company's 10-year median is 29.63 vs. the industry median of 13.28, Dycom Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for a Construction company?
The median Owner Earnings per Share (TTM) among Construction companies is 13.28, based on 849 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Dycom Industries's current Owner Earnings per Share (TTM) of 13.42 is 1.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Dycom Industries. For the Construction industry, the median Owner Earnings per Share (TTM) is 13.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dycom Industries's current Owner Earnings per Share (TTM) is 13.42, which is 55% below median its own 10-year median of 29.63. 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 $272.89, compared to a current price of $401.87 — trading 47.3% above its estimated fair value. The current Owner Earnings per Share (TTM) is 13.42, which is 55% below median its 10-year median of 29.63 and 1.1% above the Construction industry median of 13.28. 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 Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Dycom Industries (DY), the current Owner Earnings per Share (TTM) is 13.42 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 $401.87 is trading 47.3% above its estimated GF Value™ of $272.89.
GuruFocus considers Dycom Industries to be Significantly Overvalued.
Key valuation signals for DY:
Owner Earnings per Share (TTM): 13.42 (55% below median its 10-year median of 29.63)
GF Value™: $272.89 vs. price of $401.87 (47.3% above fair value)
Industry Position: 1.1% above the Construction median (#639 of 849)
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 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
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