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Dycom Industries, Inc. DCF Stock Analysis.

Here’s my assumptions:

Risk Free Rate (10 Years Interest Rate Swap): 3.92%

Risk Premium (Taken from the Aswath Damodaran equity premium spreadsheet): 4.33%

Interest Rate Spread on The Risk free rate ( For the cost of debt calculation): 4.5%

Last 24 Months Beta: 1.1

Historical Data

Revenue growth in the last 10 years (CAGR): 6.83%

Earnings growth in the last 10 years (CAGR): 6.13%

Unlevered Free Cash Flow growth in the last 10 years (CAGR): 7.65%

Future Assumptions

End of Year FCF growth: 3.5%

Growth until end of 2026: 7%

Growth until end of 2034: 3.5%

Perpetual growth: 3%

Net Debt: 0.944B

Outstanding Stock Options Present Value Assumption: $19.177B

Stock Appreciation Rights Valuation Assumption: $0.396B

Restricted Stock Units Present Value Assumption: $7.71B

Stock Valuation based on these assumptions: $205

Last update 11/23/2025

All the content in this newsletter should be taken as informational content only. THIS IS NOT FINANCIAL ADVICE! Do your own Due Diligence before investing or contact a professional financial advisor.

I don’t have a position in Dycom Industries, Inc. (DY) and I don’t plan to add a position in the coming days.