A Business at a Glance
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MASTEC INC
MTZ
$26.6B
Mkt Cap
$337.84
-5.86%
MASTEC INC (MTZ) has a current P/E ratio of 66.6, compared to its historical median P/E of 18.4. The stock is currently considered Expensive based on its historical valuation range.
MASTEC INC (MTZ) has a 5-year average return on invested capital (ROIC) of 6.2%. This is below average and may indicate limited pricing power.
MASTEC INC (MTZ) has a market capitalization of $33.6B. It is classified as a large-cap stock.
MASTEC INC (MTZ) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.15%.
Based on historical P/E analysis, MASTEC INC (MTZ) appears expensive. The current P/E of 66.6 is 263% above its historical median of 18.4. The estimated fair value CAGR (P/E method) is -14.7%.
MASTEC INC (MTZ) operates in the Water, Sewer, Pipeline, Comm & Power Line Construction industry, within the Industrials sector.
MASTEC INC (MTZ) reported annual revenue of $14.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
MasTec is a leading North American infrastructure engineering and construction company with approximately 36,000 employees and 810 locations, providing integrated, solutions-based services across communications, clean energy and infrastructure, power delivery, and pipeline infrastructure. The company operates through five reportable segments: Communications (wireless, wireline/fiber, data center buildout, and utility infrastructure); Clean Energy and Infrastructure (renewable energy installations, heavy civil and industrial infrastructure, and environmental remediation); Power Delivery (transmission, distribution, grid modernization, and emergency restoration); Pipeline Infrastructure (natural gas, water, and carbon capture sequestration pipelines, plus pipeline integrity services); and Other (equity investees and small international business units). MasTec's business model combines multi-year master service agreements with customers—which provide recurring revenue and long-term visibility—alongside project-based contracts for specific infrastructure systems, creating a diversified revenue stream across energy, utility, government, and technology end-markets. The company has pursued significant transformation since 2021 to position itself for the nation's transition to low-carbon energy sources, including substantial acquisitions to expand scale and capacity in renewable energy, power delivery, heavy civil, and telecommunications services. MasTec's competitive positioning is strengthened by its scale, diversified customer base spanning top-tier telecommunications, utility, and energy companies, and its ability to deliver turnkey solutions across multiple infrastructure verticals, supported by over 95 years of operating history and ranking among the top five contractors in Engineering News-Record's Top 400.
【Strong momentum across all segments】 Management highlighted record backlog of $20.3 billion at Q1 2026 quarter-end, representing a 28% year-over-year increase, with book-to-bill ratios of 1.6x across Power Delivery and Clean Energy and Infrastructure segments, signaling robust demand visibility extending into 2027 and beyond. The company expects accelerating growth in 2027 driven by pipeline segment expansion, data center construction opportunities, and continued strength in renewable energy and power delivery infrastructure investments, with management noting that "from a total business perspective, it's as good as I've ever seen." Pricing and contract terms are improving across the backlog, with management indicating that repricing benefits realized in 2025 will continue to flow through 2026 and into 2027, supporting margin expansion opportunities on a segment-by-segment basis. The company is investing in workforce expansion and equipment capacity to support anticipated volume growth, particularly in the pipeline segment where visibility is described as "as strong as it's ever been," and management expects to deliver consistent long-term earnings growth supported by strong execution and operational leverage across the diversified platform.
| Metric | Target | Period |
|---|---|---|
| Revenue | $17.5 billion | FY2026 |
| Adjusted EBITDA | $1.5 billion | FY2026 |
| Earnings Per Share | $8.79 | FY2026 |
| Power Delivery Revenue | approximately $4.8 billion | FY2026 |
| Clean Energy and Infrastructure Revenue | approximately $6.7 billion | FY2026 |
| Cash Flow from Operations | exceed $1 billion | FY2026 |
| Net Cash Capital Expenditure | about $220 million | FY2026 |
Revenue (FY2026): “We now expect revenue of $17.5 billion, adjusted EBITDA of $1.5 billion, and earnings per share of $8.79, representing year-over-year growth of 22%, 30%, and 34% respectively.”
Adjusted EBITDA (FY2026): “We now expect revenue of $17.5 billion, adjusted EBITDA of $1.5 billion, and earnings per share of $8.79, representing year-over-year growth of 22%, 30%, and 34% respectively.”
Earnings Per Share (FY2026): “We now expect revenue of $17.5 billion, adjusted EBITDA of $1.5 billion, and earnings per share of $8.79, representing year-over-year growth of 22%, 30%, and 34% respectively.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 15.3B | 14.3B | 12.3B | 12.0B | 9.8B | 8.0B |
| Net Income | 450M | 399M | 163M | -50M | 33M | 329M |
| EPS | $4.53 | $5.07 | $2.06 | $-0.64 | $0.42 | $4.45 |
| Free Cash Flow | 257M | 286M | 973M | 494M | 89M | 623M |
| ROIC | 0.0% | 10.5% | 6.2% | 2.6% | 2.4% | 9.0% |
| Gross Margin | - | 12.8% | 13.3% | 12.1% | 12.5% | 14.6% |
| Debt/Equity | 0.77 | 0.86 | 0.90 | 1.29 | 1.28 | 0.90 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 665M | 408M | 149M | 155M | 428M |
| Operating Margin | 0.0% | 4.7% | 3.3% | 1.2% | 1.6% | 5.4% |
| ROE | 13.6% | 12.9% | 5.8% | -1.8% | 1.3% | 14.5% |
| Shares Outstanding | 99M | 79M | 79M | 78M | 79M | 74M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.6B | 4.2B | 5.1B | 6.6B | 6.9B | 7.2B | 6.3B | 8.0B | 9.8B | 12.0B | 12.3B | 14.3B | 15.3B |
| Gross Margin | 13.7% | 11.6% | 13.5% | 13.0% | 12.5% | 14.4% | 16.2% | 14.6% | 12.5% | 12.1% | 13.3% | 12.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 238M | 266M | 261M | 275M | 287M | 286M | 303M | 307M | 559M | 699M | 685M | 713M | 761M |
| EBIT | 243M | -18M | 233M | 383M | 366M | 510M | 427M | 428M | 155M | 149M | 408M | 665M | 0 |
| Op. Margin | 5.3% | -0.4% | 4.5% | 5.8% | 5.3% | 7.1% | 6.8% | 5.4% | 1.6% | 1.2% | 3.3% | 4.7% | 0.0% |
| Net Income | 116M | -79M | 131M | 347M | 260M | 392M | 323M | 329M | 33M | -50M | 163M | 399M | 450M |
| Net Margin | 2.5% | -1.9% | 2.6% | 5.3% | 3.8% | 5.5% | 5.1% | 4.1% | 0.3% | -0.4% | 1.3% | 2.8% | 2.9% |
| Non-Recurring | 6.4M | 69M | 0 | 0 | 48M | 27M | 32M | 71M | 40M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 8.4% | -1.1% | 8.4% | 17.6% | 11.4% | 17.6% | 11.9% | 9.0% | 2.4% | 2.6% | 6.2% | 10.5% | 0.0% |
| ROE | 10.7% | -7.6% | 12.9% | 27.5% | 18.4% | 24.7% | 17.0% | 14.5% | 1.3% | -1.8% | 5.8% | 12.9% | 13.6% |
| ROA | 3.6% | -2.4% | 4.3% | 9.6% | 6.1% | 8.3% | 6.3% | 5.3% | 0.4% | -0.5% | 1.8% | 4.2% | 4.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 323M | 367M | 206M | 144M | 530M | 550M | 937M | 793M | 352M | 687M | 1.1B | 546M | 566M |
| Free Cash Flow | 214M | 283M | 88M | 21M | 350M | 424M | 724M | 623M | 89M | 494M | 973M | 286M | 257M |
| Owner Earnings | 153M | 185M | 26M | -60M | 304M | 298M | 618M | 345M | -182M | 51M | 582M | 85M | 91M |
| CapEx | 109M | 84M | 117M | 123M | 180M | 126M | 214M | 170M | 263M | 193M | 149M | 260M | 309M |
| Maint. CapEx | 154M | 170M | 165M | 188M | 213M | 236M | 298M | 423M | 507M | 603M | 507M | 427M | 440M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 154M | 170M | 165M | 188M | 213M | 236M | 298M | 423M | 507M | 603M | 507M | 427M | 440M |
| CapEx/OCF | 33.8% | 23.0% | 57.0% | 85.6% | 34.0% | 23.0% | 22.8% | 21.4% | 74.8% | 28.1% | 13.3% | 47.6% | 54.7% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 100M | 0 | 1.6M | 314M | 5.7M | 120M | 0 | 81M | 0 | 0 | 77M | 50M |
| Buyback Yield | N/A | 7.1% | N/A | 0.0% | 9.8% | 0.1% | 2.3% | N/A | 1.2% | N/A | N/A | 0.4% | 0.2% |
| Stock-Based Comp | 16M | 12M | 15M | 16M | 14M | 16M | 22M | 25M | 27M | 33M | 33M | 34M | 35M |
| Debt Repayment | 1.9B | 1.7B | 1.6B | 2.5B | 3.4B | 3.1B | 1.7B | 812M | 3.2B | 4.5B | 5.3B | 5.5B | 5.5B |
| Balance Sheet | |||||||||||||
| Net Debt | 1.1B | 1.0B | 987M | 1.3B | 1.4B | 801M | 1.1B | 1.9B | 3.1B | 3.0B | 2.2B | 2.4B | 2.3B |
| Cash & Equiv. | 24M | 5.0M | 39M | 40M | 27M | 71M | 423M | 361M | 371M | 530M | 400M | 396M | 274M |
| Long-Term Debt | 1.1B | 1.0B | 1.0B | 1.4B | 1.4B | 518M | 1.2B | 1.9B | 3.1B | 2.9B | 2.0B | 2.2B | 2.4B |
| Debt/Equity | 0.99 | 1.08 | 0.94 | 0.96 | 1.01 | 0.49 | 0.75 | 0.90 | 1.28 | 1.29 | 0.90 | 0.86 | 0.77 |
| Interest Coverage | 4.8 | -0.4 | 23.8 | 29.5 | 523.5 | 1019.4 | 304.8 | 1428.3 | 1.4 | 0.6 | 2.1 | 3.8 | 3.8 |
| Equity | 1.1B | 940M | 1.1B | 1.4B | 1.4B | 1.8B | 2.0B | 2.5B | 2.7B | 2.7B | 2.9B | 3.3B | 3.3B |
| Total Assets | 3.6B | 2.9B | 3.2B | 4.1B | 4.4B | 5.0B | 5.2B | 7.1B | 9.3B | 9.4B | 9.0B | 9.9B | 10.4B |
| Total Liabilities | 2.4B | 2.0B | 2.1B | 2.6B | 3.0B | 3.2B | 3.2B | 4.6B | 6.6B | 6.7B | 6.0B | 6.6B | 7.0B |
| Intangibles | 250M | 199M | 180M | 191M | 169M | 212M | 184M | 670M | 946M | 784M | 727M | 656M | 761M |
| Retained Earnings | 458M | 379M | 510M | 857M | 1.1B | 1.5B | 1.8B | 2.2B | 2.2B | 2.1B | 2.3B | 2.7B | 2.8B |
| Working Capital | 551M | 377M | 562M | 889M | 885M | 954M | 944M | 1.1B | 1.4B | 1.1B | 653M | 1.1B | 1.1B |
| Current Assets | 1.5B | 1.1B | 1.4B | 1.9B | 2.2B | 2.2B | 2.4B | 2.9B | 3.9B | 4.0B | 3.7B | 4.3B | 4.5B |
| Current Liabilities | 981M | 753M | 840M | 964M | 1.3B | 1.2B | 1.4B | 1.8B | 2.5B | 2.8B | 3.0B | 3.3B | 3.4B |
| Per Share Data | |||||||||||||
| EPS | 1.35 | -0.98 | 1.61 | 4.22 | 3.26 | 5.17 | 4.38 | 4.45 | 0.42 | -0.64 | 2.06 | 5.07 | 4.53 |
| Owner EPS | 1.78 | 2.30 | 0.31 | -0.72 | 3.81 | 3.93 | 8.38 | 4.68 | -2.29 | 0.65 | 7.37 | 1.08 | 0.91 |
| Book Value | 13.32 | 11.64 | 13.45 | 17.39 | 17.45 | 23.55 | 27.16 | 34.37 | 34.47 | 34.67 | 36.85 | 41.41 | 33.28 |
| Cash Flow/Share | 3.76 | 4.55 | 2.52 | 1.75 | 6.65 | 7.25 | 12.72 | 10.73 | 4.44 | 8.81 | 14.19 | 6.93 | 8.95 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 85.9M | 80.7M | 81.5M | 82.3M | 79.7M | 75.9M | 73.7M | 73.9M | 79.4M | 78.0M | 79.0M | 78.7M | 99.4M |
| Valuation | |||||||||||||
| P/E Ratio | 16.4 | N/A | 24.0 | 11.8 | 12.3 | 12.3 | 16.1 | 20.6 | 197.3 | N/A | 65.9 | 44.3 | 74.6 |
| P/FCF | 8.9 | 5.0 | 35.6 | 197.5 | 9.1 | 11.4 | 7.2 | 10.9 | 74.0 | 11.9 | 11.0 | 61.8 | 130.9 |
| EV/EBIT | 377.5 | 161.2 | 612.2 | 12.7 | 10.3 | 10.7 | 11.9 | 246.0 | 59.7 | 197.7 | 30.3 | 29.1 | N/A |
| Price/Book | 1.7 | 1.5 | 2.9 | 2.9 | 2.3 | 2.7 | 2.6 | 2.7 | 2.4 | 2.2 | 3.7 | 5.4 | 10.2 |
| Price/Sales | 0.6 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.5 | 0.9 | 0.7 | 0.6 | 0.7 | 0.9 | 2.2 |
| FCF Yield | 11.2% | 20.0% | 2.8% | 0.5% | 10.9% | 8.8% | 13.9% | 9.2% | 1.4% | 8.4% | 9.1% | 1.6% | 0.8% |
| Market Cap | 1.9B | 1.4B | 3.1B | 4.1B | 3.2B | 4.8B | 5.2B | 6.8B | 6.6B | 5.9B | 10.7B | 17.7B | 33.6B |
| Avg. Price | 32.56 | 18.51 | 24.85 | 42.36 | 47.11 | 54.58 | 46.85 | 94.78 | 81.30 | 88.74 | 105.08 | 167.82 | 337.84 |
| Year-End Price | 22.17 | 17.51 | 38.60 | 49.65 | 40.15 | 63.76 | 70.40 | 91.85 | 82.85 | 75.59 | 135.73 | 224.40 | 337.84 |
MASTEC INC passes 2 of 9 quality checks, indicating weak fundamentals.
MASTEC INC trades at 66.6x trailing earnings, compared to its 15-year median P/E of 18.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 93.3x vs a median of 11.4x. The company's 5-year average ROIC is 6.2% with a gross margin of 13.1%. Total shareholder yield (buybacks) is 0.2%. At current prices, the estimated annualized return to fair value is +0.1%.
MASTEC INC (MTZ) has a net profit margin of 2.8%. This is a modest margin.
MASTEC INC (MTZ) generated $286 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
MASTEC INC (MTZ) has a debt-to-equity ratio of 0.86. This indicates moderate leverage.
MASTEC INC (MTZ) reported earnings per share (EPS) of $5.07 in its most recent fiscal year.
MASTEC INC (MTZ) has a return on equity (ROE) of 12.9%. This indicates moderate shareholder returns.
MASTEC INC (MTZ) has a 5-year average gross margin of 13.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for MASTEC INC (MTZ), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MASTEC INC (MTZ) has a book value per share of $41.41, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management highlighted record backlog of $20.3 billion at Q1 2026 quarter-end, representing a 28% year-over-year increase, with book-to-bill ratios of 1.6x across Power Delivery and Clean Energy and Infrastructure segments, signaling robust demand visibility extending into 2027 and beyond. The company expects accelerating growth in 2027 driven by pipeline segment expansion, data center construction opportunities, and continued strength in renewable energy and power delivery infrastructure investments, with management noting that "from a total business perspective, it's as good as I've ever seen." Pricing and contract terms are improving across the backlog, with management indicating that repricing benefits realized in 2025 will continue to flow through 2026 and into 2027, supporting margin expansion opportunities on a segment-by-segment basis. The company is investing in workforce expansion and equipment capacity to support anticipated volume growth, particularly in the pipeline segment where visibility is described as "as strong as it's ever been," and management expects to deliver consistent long-term earnings growth supported by strong execution and operational leverage across the diversified platform.
Based on recent SEC filings and earnings calls, MASTEC INC (MTZ) has provided the following forward guidance: Revenue: $17.5 billion (FY2026); Adjusted EBITDA: $1.5 billion (FY2026); Earnings Per Share: $8.79 (FY2026); Power Delivery Revenue: approximately $4.8 billion (FY2026); Clean Energy and Infrastructure Revenue: approximately $6.7 billion (FY2026), plus 2 additional metrics.
Power Delivery Revenue (FY2026): “This is one of the factors driving our revenue guidance higher to approximately $4.8 billion or 14% year-over-year growth.”
Clean Energy and Infrastructure Revenue (FY2026): “Demand continues to be robust across the business verticals, leading us to increase our full year revenue guidance to approximately $6.7 billion, up $325 million or 5% higher than previous forecasts.”
Cash Flow from Operations (FY2026): “Our cash flow from operations outlook remains unchanged, expecting to exceed $1 billion for 2026.”
Net Cash Capital Expenditure (FY2026): “We are increasing our net cash capital expenditure forecast to about $220 million to support the additional revenue growth.”