DY
Dycom Industries Inc
NYSE: DY · INDUSTRIALS · ENGINEERING & CONSTRUCTION
$430.95
-4.56% today
Updated 2026-06-05
Market cap
$14.08B
P/E ratio
44.84
P/S ratio
2.25x
EPS (TTM)
$10.46
Dividend yield
—
52W range
$230 – $566
Volume
0.5M
Dycom Industries Inc (DY) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed DY price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$430.95
Today
Analyst consensus
$431.64
+0.16% · 12M
2030 Base
$469.17
+8.87% future
NPV today
$272.59
@ 13% WACC
13 analysts:
11 Buy1 Hold0 Sell
Management guidance
Dycom guided to double-digit contract revenue growth in FY2027 (fiscal year ending Jan 31, 2027). CEO emphasized $9.5B backlog as of Q4 FY2026, with strong demand from hyperscaler data center buildout and fiber-to-the-home initiatives. Management highlighted expansion into AI-driven digital infrastructure as a multi-year growth driver through 2028+.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
DY · Dycom Industries Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$469.17
NPV today: $272.59
Base case (2030)
$469.17
NPV today: $272.59
Bull case (2030)
$921.35
NPV today: $535.32
WallStSmart.com
DY financial forecast · Research-backed projections
| Metric | 2026 | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|
| Revenue | $5.5B | $8.9B | $10.6B | $12.1B | $13.7B |
| Revenue growth | 17.9% | 23.1% | 18.0% | 14.6% | 13.4% |
| Net margin | — | 6.2% | 6.2% | 6.2% | 6.1% |
| EPS | $4.42 | $18.50 | $21.80 | $24.90 | $27.50 |
| Diluted shares | — | 30M | 30M | 30M | 30M |
| Net debt | — | $517.40M | $217.69M | $-125.77M | $-515.24M |
| P/S multiple | — | 1.0x | 1.0x | 1.0x | 1.0x |
| Implied price (base) | — | $279.46 | $342.14 | $403.70 | $469.17 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $13.7B | $13.7B | $13.7B |
| P/S multiple | 1.0x | 1.0x | 2.0x |
| Diluted shares | 30M | 30M | 30M |
| Net debt | $-515.24M | $-515.24M | $-515.24M |
| Implied P/E † | 17x | 17x | 34x |
| 2030 Price | $469.17 | $469.17 | $921.35 |
| NPV @ 13% | $272.59 | $272.59 | $535.32 |
† Implied P/E: Multiples remain elevated across all three scenarios because DY is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $469.17 base case
DY catalysts and risks
Growth catalysts
+ Hyperscaler data center capex acceleration (Meta $60B+, Microsoft $80B+ AI infrastructure spend 2026-2028)
+ Fiber-to-the-home deployment surge driven by FCC broadband initiatives and telecom capex commitments
+ Dycom's new Chief Revenue Officer (Bo Gresham) and digital transformation (CIO Regina Salazar) execution on $9.5B backlog monetization
+ Opening of 49-acre flagship workforce training center in Georgia (mid-2027) enabling capacity expansion and margin improvement
+ Multi-year contracts with major telecom/utility customers providing revenue visibility through 2028-2029
Key risks
- Concentrated customer revenue exposure to 3-4 major telecom providers; telecom capex cuts would directly impact revenue
- Interest rate sensitivity—if Fed raises rates, telecom/utility capex could slow, reducing backlog conversion
- Labor inflation and field workforce availability constraints could compress margins despite volume growth
- Data center buildout cycle peaks in 2028 and begins normalization; assumes sustained demand into 2029-2030 but deceleration risk exists
- Valuation risk: P/E of 45x implies market has priced in significant 2027-2028 growth; miss on Q1 FY2027 guidance could trigger multiple compression
Methodology · Dycom Industries Inc 2030 stock forecast model
Dycom Industries Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 13 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for DY by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($-515.24M by 2030) |
| 3. Time value | NPV calculated using 13% WACC (CAPM: beta 1.458) |
| 4. Multiple framework | P/S compresses with scale: bear 1.0x / base 1.0x / bull 2.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 21, 2026.
DY price target FAQ
What is the DY price target for 2030?
WallStSmart's Dycom Industries Inc 2030 base case is $469.17 per share, with a bull case of $921.35 and bear case of $469.17. The NPV of the base case discounted to today at 13% WACC is $272.59.
How is the Dycom Industries Inc 2030 stock forecast calculated?
The DY 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the DY price target account for dilution?
Dycom Industries Inc is projected to grow diluted share count from 30M to 30M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on DY stock?
13 analysts cover DY with an average 12-month price target of $431.64. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.