DY
Dycom Industries, Inc.
Is DY Halal?
Telecom and utility infrastructure is permissible, but current debt and contract-asset ratios fail the examined financial screens.
What You Should Know
Dycom provides engineering, construction, and maintenance services for telecommunications and utility networks. Its May 2, 2026 Form 10-Q reports assets of $6,180.400 million, interest-bearing debt of $2,815.714 million, cash of $538.826 million, and a contract-receivable proxy of $2,220.691 million. Debt/assets is 45.56%, liquidity/assets is 8.72%, and receivables-plus-cash/assets is 44.65%; the debt screen fails under FTSE, MSCI and Malaysia-style asset tests, and the MSCI-style receivables screen also fails. The filing reports net interest expense but no reproducible gross non-compliant-income numerator.
⚠️ Concerns
- •Debt/assets is 45.56%, above the examined 33% limits
- •Receivables-plus-cash/assets is 44.65%, above the examined MSCI-style 33.33% limit
- •Contract assets and customer concentration require qualitative review
- •Building-systems acquisition and telecom capital-spending exposure
- •No reproducible gross non-compliant-income numerator is disclosed; re-screen after the next filing
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-05-02; calculated 2026-07-15.
2,815.714 / 6,180.4
538.826 / 6,180.4
2,759.517 / 6,180.4
- Financial
- Fails
- Overall
- Fails
Debt/assets is 45.56%, above the examined 33.333% limit; receivables-plus-cash/assets is 44.65% and the income numerator remains unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 45.56% and receivables-plus-cash/assets is 44.65%, above the examined MSCI limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 45.56%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the asset-based debt and receivables screens already fail.
Business-activity disclosure
Dycom provides engineering, construction and maintenance services for telecommunications and utility networks, with a building-systems expansion. Infrastructure contracting is generally permissible, while customer end use, concentration and project obligations require qualitative review.
Limitation: The filing does not allocate revenue by downstream end use or provide a universal prohibited-revenue or non-compliant-income numerator.
Purification
The filing reports net interest expense but no reproducible gross non-compliant-income numerator; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Dycom's May 2, 2026 Form 10-Q.
- Debt combines current debt of $6.000 million and long-term debt of $2,809.714 million.
- Cash and equivalents are $538.826 million; restricted cash is not treated as an interest-bearing security.
- The receivable proxy combines accounts receivable of $1,980.558 million and contract assets of $240.133 million.
- The filing reports net interest expense but no reproducible gross non-compliant-income numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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