Dycom Industries, Inc. (DY) vs Granite Construction Incorporated (GVA)

Dycom Industries, Inc. and Granite Construction Incorporated are both Engineering & Construction companies. Dycom Industries, Inc. and Granite Construction Incorporated are of similar size ($5.8B and $5.3B). Granite Construction Incorporated has negative trailing earnings, so its P/E is not meaningful; Dycom Industries, Inc. trades at 17.4×. Dycom Industries, Inc. grew revenue faster over the last twelve months: 37.8% against 25.1%. Dycom Industries, Inc. has the higher net margin (4.79% vs −4.99%) and the lower return on invested capital (7.37% vs 12.1%). Across the 21 metrics below, Dycom Industries, Inc. leads on 14 and Granite Construction Incorporated on 7.

Valuation

Metric DY GVA Engineering & Construction median
P/E 17.44 n/m 27.65
P/S 0.85 1.01 0.85
P/B 2.82 5.35 3.04
Price to free cash flow 12.01 11.08 19.05
EV/EBITDA 9.03 10.79 11.89
EV/Sales 1.21 1.20 1.20
Earnings yield 5.73% (5.00%) 2.77%
Free cash flow yield 8.33% 9.03% 2.00%

Profitability

Metric DY GVA Engineering & Construction median
Gross margin 20.53% 16.08% 18.76%
Operating margin 7.78% 7.45% 6.43%
Net margin 4.79% (4.99%) 2.14%
Free cash flow margin 7.05% 9.09% 1.12%
Return on equity 19.20% (24.04%) 6.05%
Return on assets 6.75% (6.14%) 1.19%
Return on invested capital 7.37% 12.10% 2.52%

Growth

Metric DY GVA Engineering & Construction median
Revenue growth (TTM) 37.79% 25.11% 18.09%
EPS growth (last fiscal year) 20.71% 47.33% 13.42%
Revenue growth, 5-year CAGR 11.63% 4.43% 12.23%
Net income growth, 5-year CAGR 52.28% 0.00% 0.00%

Health

Metric DY GVA Engineering & Construction median
Debt to equity 1.37 1.56 0.41
Current ratio 2.35 1.11 1.37
Net debt to EBITDA 3.01 1.64 0.38

Dividend

Metric DY GVA Engineering & Construction median
Dividend yield — 0.43% 0.68%
Payout ratio — — 0.18

Size

Metric DY GVA Engineering & Construction median
Market cap 5.81b 5.34b 1.13b

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