MasTec, Inc.

Water, Sewer, Pipeline, Comm & Power Line Construction

MTZMixed9 of 10 basics passed

$214.03

-1.21%

Market cap $17.2B

$214.03

-1.21%

Market cap $17.2B

MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. Its primary activities include engineering, building, installing, maintaining, and upgrading communications, oil and gas, utility, renewable energy, and other infrastructure.

It is a $17.2B industrial company. Revenue grew 23.5% over the last year, it keeps 3¢ of every dollar of sales as profit, and its net debt equals ~7.9 years of free cash flow. It trades at 34.5× earnings — around the middle of its own history.

Website: mastec.com
Location: Coral Gables, FL
Employees: 37 000
Sector: Industrials
Founded: 1929

Share price · 3 years

$69.81 → $214.03+206.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $16.1B
Profit: keeps 3¢ of every $1 sold; $494M
Free cash flow: cash left after running the business; $245M
Net debt: debt minus cash on hand; $1.93B
P/E: years of profit in the price; 34.5
EPS: earnings per share, TTM; $6.28
Shares: down 3% since 2016 — buybacks; 78.7M
Volatility: beta vs the market — under 1 swings less; 1.90

Revenue, last 10 years

52-week range

Low $190.08$214.03High $437.51

Today's price is 10% of the way from the year's low to its high.

P/E vs its history5y

34.5×median 50.4×

Higher than 37% of past days — around the middle of its own history.

Valuation vs own history

P/E

34.5×

64%

P/S

1.1×

27%

EV/EBITDA

26.1×

73%

P/B

4.7×

24%

FCF yield

1.4%

10%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Standing in Industrials

Size$17.2Btop 57%
Revenue growth+14%top 12%
Net margin3%top 88%
Return on equity15%top 64%
P/E34.5×top 72%

Ranked against 130 Industrials companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong quality; Profitability and Moat lag behind.

Valuation62

P/E vs own history37th pct · 20/25
FCF yield1.4% · 5/25
P/S1.1x · 25/25
EV/EBITDA15.1x · 12/25

Growth57

Revenue CAGR15.8% · 20/25
Net income CAGR5.0% · 6/25
EPS CAGR ~5Y3.0% · 6/25
Fwd implied growth50.8% · 25/25

Profitability36

ROIC7.7% · 5/25
ROE15.0% · 20/25
Net margin3.1% · 6/25
Operating margin5.2% · 5/25

Health52

Altman Z2.77 · 18/25
Current ratio1.40 · 12/25
Interest coverage4.7x · 10/25
Net cash / debtD/A 19% · 12/25

Quality78

Piotroski F8/9 · 25/25
Beneish M-2.34 · 20/25
FCF conversion50% · 8/25
Margin stabilityσ 2.4% · 25/25

Moat30

ROIC >12% years1/10 yrs · 0/25
Median gross margin12.5% · 0/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst -0.4% · 5/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$399M net income
FY2023Financial
Revenue crossed $10B
$12.0B for the year
FY2016Financial
First recorded profitable year
$131M net income
FY2016Financial
Revenue already above $1B
$5.13B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
1998IPO
The company was listed on the New York Stock Exchange in 1998
Mar 11, 1994Acquisition
Church & Tower Group acquired 65 percent of the outstanding common stock of publicly traded…
1971Acquisition
Mas Canosa had turned the failing company around; he then borrowed $50,000 and bought the remaining shares…
1929Founded
Burnup & Sims was the oldest of the two founding companies and was founded in 1929 by two unemployed carpenters,…

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$23 968 today — price return only

$14.3B revenue in FY2025

Revenue up 23.5% year over year

Positive free cash flow 10 years in a row

37 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Revenue growing 23.5% year over year
Piotroski F-Score 8/9 — fundamentally strong checklist

Watch-outs

Net debt would take ~11.9 years of free cash flow to repay
Loss-making in 1 of the recent years
Net debt equals ~7.9 years of free cash flow

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 10 checks passed

Revenue growing — the company sells more than a year ago+23.5% YoY
Profitable — makes more than it spends$494M TTM
Profit growing — earnings are higher than last year+126.2% YoY
Generates cash — cash left after running and investing$245M TTM
Debt under control — could handle its obligations~7.9y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$17.2B market cap
Not printing shares — share count not ballooning — you keep your slice+6.8% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distressAltman Z 2.8 — grey
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 34.5

Peer comparisonMasTec, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
MTZ this company	$17.2B	34.5	+23.5%	3.1%	Mixed
LRCX Lam Research Corp	$399.2B	54.9	+26.0%	31.3%	Strong
CAT Caterpillar Inc.	$368.0B	33.9	+18.4%	14.5%	Solid
RTX RTX Corporation	$251.3B	32.4	+11.8%	8.3%	Strained
DE Deere & Company	$167.7B	34.4	+8.3%	10.2%	Solid
ETN Eaton Corporation, plc	$167.2B	43.6	+15.5%	12.8%	Mixed
UNP Union Pacific Corp.	$166.8B	22.6	+4.2%	28.8%	Strained

Head-to-head: MTZ vs LRCX · MTZ vs CAT · MTZ vs RTX

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 8Buy 16Hold 2

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $16.1B · net income $494M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$16.1B

YoY 23.5%

Net income (TTM)

$494M

Margin 3.1%

Gross margin

12.9%

Operating margin

5.2%

P/E ratio

34.5

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	6.3	8.0	9.8	12.0	12.3	14.3
Gross profit	—	1.1	1.2	1.4	1.6	1.8
Operating income (EBIT)	0.4	0.4	0.2	0.2	0.3	0.5
Net income	0.3	0.3	0.0	-0.0	0.2	0.4
EPS (diluted)	4.38	4.45	0.44	-0.64	2.06	5.07

Cash flowFree cash flow $245M · operating cash flow $582M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$245M

Margin 1.5%

Operating cash flow (TTM)

$582M

FCF margin

1.5%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.9	0.8	0.4	0.7	1.1	0.5
Capital expenditure	-0.2	-0.2	-0.3	-0.2	-0.1	-0.3
Free cash flow	0.7	0.6	0.1	0.5	1.0	0.3
FCF margin	11.4%	7.8%	0.9%	4.1%	7.9%	2.0%

Balance sheetAssets $9.92B · net debt $1.93B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $9.92B of assets is financed

67%

33%

Liabilities $6.59B — borrowed moneyEquity $3.26B — owners' stake

Cash vs debt

Total debt $2.33B − cash $396M = net debt $1.93B

Cash on hand covers 17% of debt.

Altman Z-Score

2.77

Grey zone

Debt repayment

11.9 yrs

Years of free cash flow to clear net debt

Interest coverage

4.7x

EBIT ÷ interest expense

ROE

15.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.4	0.4	0.4	0.5	0.4	0.4
Total assets	5.2	7.1	9.3	9.4	9.0	9.9
Total liabilities	3.2	4.6	6.6	6.7	6.0	6.6
Total debt	1.3	2.0	3.5	3.1	2.2	2.3
Equity	2.0	2.5	2.7	2.7	2.9	3.3
Net debt	0.9	1.7	3.1	2.5	1.8	1.9

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of MTZ on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $214.03 · market cap $17.2B.