Dycom Industries
DY · Construction & Engineering
$224.56
0.3%IES
IESC · Construction & Engineering
$213.54
3.3%The short version
- Dycom Industries is the larger business, with $5.5B of revenue in fiscal 2026 against $3.4B for IES, about 1.6 times as much.
- Dycom Industries grew revenue faster (18.0%, against 16.9%).
- Dycom Industries turned more of its sales into free cash flow (7.2% FCF margin, against 6.5% FCF margin).
- IES earned a higher return on the capital invested in it (50.5%, against 10.9%).
- Investors pay more for each dollar of Dycom Industries’s earnings: a P/E of 20.5x against 9.5x for IES.
| Latest fiscal year | DY · FY26 | IESC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.8B | $4.3B |
| Revenue | $5.5B | $3.4B |
| Free cash flow | $402M | $219M |
| Net income | $281M | $306M |
| Growth | ||
| Revenue growth | 18.0% | 16.9% |
| 5-year growth | 11.6% | 23.1% |
| Share count change | −0.2% | −1.1% |
| Profitability | ||
| Gross margin | — | 25.5% |
| Operating margin | — | 11.4% |
| Net margin | 5.1% | 9.1% |
| FCF margin | 7.2% | 6.5% |
| Return on capital | 10.9% | 50.5% |
| Return on equity | 18.2% | 40.9% |
| Balance sheet | ||
| Net debt | $2.1B | −$224M |
| Net debt / EBITDA | 3.0x | −0.5x |
| Dividends and buybacks | $30.2M | $41.6M |
| Valuation & quality | ||
| P/E | 20.5x | 9.5x |
| Piotroski F-score | 6 | 6 |
FY17
DY $3.1B
IESC $811M
FY18
DY —
IESC $877M
FY19
DY $3.1B
IESC $1.1B
FY20
DY $3.3B
IESC $1.2B
FY21
DY $3.2B
IESC $1.5B
FY22
DY $3.1B
IESC $2.2B
FY23
DY $3.8B
IESC $2.4B
FY24
DY $4.2B
IESC $2.9B
FY25
DY $4.7B
IESC $3.4B
FY26
DY $5.5B
IESC —
DY
IESC
FY17
DY —
IESC 2.5%
FY18
DY —
IESC 3.0%
FY19
DY —
IESC 3.9%
FY20
DY —
IESC 4.2%
FY21
DY —
IESC 5.6%
FY22
DY —
IESC 2.6%
FY23
DY —
IESC 6.7%
FY24
DY —
IESC 10.4%
FY25
DY —
IESC 11.4%
FY26
DY —
IESC —
DY
IESC
FY17
DY $55.3M
IESC $17.8M
FY18
DY —
IESC $7.7M
FY19
DY −$40.5M
IESC $32.4M
FY20
DY −$62.6M
IESC $72.0M
FY21
DY $324M
IESC $30.5M
FY22
DY $152M
IESC −$13.0M
FY23
DY −$36.2M
IESC $136M
FY24
DY $40.5M
IESC $189M
FY25
DY $98.6M
IESC $219M
FY26
DY $402M
IESC —
DY
IESC
FY17
DY 12.7%
IESC 6.4%
FY18
DY —
IESC 5.6%
FY19
DY —
IESC 15.5%
FY20
DY 4.8%
IESC 18.0%
FY21
DY 3.0%
IESC 23.2%
FY22
DY 5.2%
IESC 10.7%
FY23
DY 12.5%
IESC 29.6%
FY24
DY 15.9%
IESC 52.7%
FY25
DY 14.4%
IESC 50.5%
FY26
DY 10.9%
IESC —
DY
IESC
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.