DYCOM INDUSTRIES INC
For the period ended Jan 25, 2025. Filed Feb 28, 2025.
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FY2025 · Filed Feb 28, 2025
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Item 6. Selected Financial Data
Our fiscal year ends on the last Saturday in January. As a result, each fiscal year consists of either 52 weeks or 53 weeks of operations (with the additional week of operations occurring in the fourth quarter). Fiscal 2025, fiscal 2024, and fiscal 2023 each consisted of 52 weeks of operations. The next 53 week fiscal period will occur in the fiscal year ending January 31, 2026. The following selected financial data is derived from the audited consolidated financial statements for the applicable fiscal year.
The selected financial data below should be read in conjunction with our consolidated financial statements and accompanying notes, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in this Annual Report on Form 10-K. The results of operations of businesses acquired are included in the following selected financial data from their dates of acquisition (dollars in thousands, except per share amounts):
| Fiscal Year Ended | |||||
|---|---|---|---|---|---|
| January 25, 2025 | January 27, 2024 | January 28, 2023 | January 29, 2022(1) | January 30, 2021(2) | |
| Operating Data: | |||||
| Revenues | $4,702,014 | $4,175,574 | $3,808,462 | $3,130,519 | $3,199,165 |
| Net income | $233,413 | $218,923 | $142,213 | $48,574 | $34,337 |
| Earnings Per Common Share: | |||||
| Basic | $8.02 | $7.46 | $4.81 | $1.60 | $1.08 |
| Diluted | $7.92 | $7.37 | $4.74 | $1.57 | $1.07 |
| Balance Sheet Data (at end of period): | |||||
| Total assets | $2,945,367 | $2,516,885 | $2,313,254 | $2,118,224 | $1,944,165 |
| Long-term liabilities | $1,119,117 | $955,925 | $974,948 | $977,884 | $684,367 |
| Stockholders’ equity(3) | $1,239,097 | $1,054,656 | $868,755 | $758,544 | $811,308 |
(1)During fiscal 2022, we issued $500 million aggregate principal amount of 4.50% senior notes due 2029 (the “2029 Notes”). The 2029 Notes are guaranteed on a senior unsecured basis, jointly and severally, by all of our domestic subsidiaries that guarantee the Credit Agreement. The balance of $58.3 million under the 2021 Convertible Notes was repaid in full on September 15, 2021.
(2)During the first quarter of fiscal 2021, we recognized a goodwill impairment charge of $53.3 million as the result of an interim impairment analysis.
(3)The following table summarizes our share repurchases during fiscal 2025, 2024, 2023, 2022, and 2021:
| Fiscal Year Ended | |||||
|---|---|---|---|---|---|
| January 25, 2025 | January 27, 2024 | January 28, 2023 | January 29, 2022 | January 30, 2021 | |
| Shares | 410,000 | 485,000 | 514,030 | 1,231,638 | 1,324,381 |
| Amount paid (dollars in millions) | $65.6 | $49.7 | $48.7 | $106.1 | $100.0 |
| Average price per share | $160.10 | $102.39 | $94.80 | $86.17 | $75.51 |
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