Why is casting with dynamic faster than with object

You can have a look at IL code to see the difference under the hood. Object cast

public TEnum ObjectCast()
{
    return (TEnum)(object)0;
}

box int value into object and then unbox into TEnum value, since it's value type

IL_0001: ldc.i4.0
IL_0002: box          [System.Runtime]System.Int32
IL_0007: unbox.any    TestConsoleApp.Test/TEnum
IL_000c: stloc.0      // V_0
IL_000d: br.s         IL_000f

I guess that it's a main reason of the slowest execution in comparison with other samples.

The dynamic object cast

public TEnum DynamicCast()
{
    return (TEnum) (dynamic) 0;
}

looks more complicated

IL_0001: ldsfld       class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>> TestConsoleApp.Test/'<>o__0'::'<>p__0'
IL_0006: brfalse.s    IL_000a
IL_0008: br.s         IL_002f
IL_000a: ldc.i4.s     16 // 0x10
IL_000c: ldtoken      TestConsoleApp.Test/TEnum
IL_0011: call         class [System.Runtime]System.Type [System.Runtime]System.Type::GetTypeFromHandle(valuetype [System.Runtime]System.RuntimeTypeHandle)
IL_0016: ldtoken      TestConsoleApp.Test
IL_001b: call         class [System.Runtime]System.Type [System.Runtime]System.Type::GetTypeFromHandle(valuetype [System.Runtime]System.RuntimeTypeHandle)
IL_0020: call         class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSiteBinder [Microsoft.CSharp]Microsoft.CSharp.RuntimeBinder.Binder::Convert(valuetype [Microsoft.CSharp]Microsoft.CSharp.RuntimeBinder.CSharpBinderFlags, class [System.Runtime]System.Type, class [System.Runtime]System.Type)
IL_0025: call         class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<!0/*class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>*/> class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>>::Create(class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSiteBinder)
IL_002a: stsfld       class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>> TestConsoleApp.Test/'<>o__0'::'<>p__0'
IL_002f: ldsfld       class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>> TestConsoleApp.Test/'<>o__0'::'<>p__0'
IL_0034: ldfld        !0/*class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>*/ class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>>::Target
IL_0039: ldsfld       class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite`1<class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>> TestConsoleApp.Test/'<>o__0'::'<>p__0'
IL_003e: ldc.i4.0
IL_003f: box          [System.Runtime]System.Int32
IL_0044: callvirt     instance !2/*valuetype TestConsoleApp.Test/TEnum*/ class [System.Runtime]System.Func`3<class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite, object, valuetype TestConsoleApp.Test/TEnum>::Invoke(!0/*class [System.Linq.Expressions]System.Runtime.CompilerServices.CallSite*/, !1/*object*/)
IL_0049: stloc.0      // V_0
IL_004a: br.s         IL_004c

There is a type information loaded, then instance of CallSiteBinder is initialized using Binder.Convert static method. Then an instance of generic CallSite class is created, using Create static call (ldsfld pushes the value of static field into the stack). I'm not 100% sure, but the generic argument Func<CallSite, object, TEnum means a function, which will be invoked to convert the object into TEnum. Last lines show that this function is bound to TEnum class.

So, under the hood compiler already creates you a method to cast a dynamic object to required TEnum type. And there is only boxing operation from int to object to pass it to created function. This sounds like a good reason, why it's faster than object cast with boxing and unboxing operations