Is Dycom Industries, Inc. overvalued or undervalued?

As of 3 October 2025, the valuation grade for Dycom Industries, Inc. has moved from fair to expensive. The company appears to be overvalued, given its P/E ratio of 30, a Price to Book Value of 5.55, and an EV to EBITDA of 14.52. In comparison to peers, Dycom's P/E ratio is lower than APi Group Corp.'s 87.46 but higher than TopBuild Corp.'s 24.98, indicating a premium valuation relative to some competitors.
Despite its high valuation, Dycom has shown strong performance, with a year-to-date return of 64.57%, significantly outpacing the S&P 500's 14.18% during the same period. This performance, however, does not mitigate the concerns regarding its current valuation metrics.