Dycom Industries vs Tetra Tech
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KIRA’s take AI analyst
I put Dycom Industries and Tetra Tech side by side, using each one’s latest annual report. Here is what stands out:
- Dycom Industries is the larger business, with $5.5B of revenue in fiscal 2026 against $5.4B for Tetra Tech.
- Dycom Industries grew revenue faster (18.0%, against 4.7%).
- Tetra Tech turned more of its sales into free cash flow (8.1% FCF margin, against 7.2%).
- Investors pay more for each dollar of Tetra Tech’s earnings: a P/E of 22.4x against 20.9x for Dycom Industries.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Dycom Industries
DY
3/9
Revenue growthNet marginReturn on equity
Tetra Tech
TTEK
5/9
5-year growthFCF marginReturn on capitalNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | DY FY26 | TTEK FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.9B | $9.6B |
| Revenue | $5.5B | $5.4B |
| Free cash flow | $402M | $439M |
| Net income | $281M | $248M |
| Growth | ||
| Revenue growth | 18.0% | 4.7% |
| 5-year growth | 11.6% | 12.7% |
| Share count change | −0.2% | −1.1% |
| Profitability | ||
| Gross margin | — | 17.7% |
| Operating margin | — | 7.5% |
| Net margin | 5.1% | 4.6% |
| FCF margin | 7.2% | 8.1% |
| Return on capital | 10.9% | 11.2% |
| Return on equity | 18.2% | 13.7% |
| Balance sheet | ||
| Net debt | $2.1B | $596M |
| Net debt / EBITDA | 3.0x | 1.3x |
| Dividends and buybacks | $30.2M | $315M |
| Valuation & quality | ||
| P/E | 20.9x | 22.4x |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.