MasTec Inc (MTZ) stock analysis
Close on Nov 11, 2026Market cap $15.19BP/E 30.9Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed14 of 30 checks passed
MasTec passes 14 of the 30 checks behind our score; 7 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 6/6
- Past performance
- 4/6
- Financial health
- 1/6
- Dividend
- 0/6
What stands out
Trading below fair value
The share price of $189.18 is below our fair value estimate of $198.75.
Earnings grew over 5 years
Net income grew 4.3% a year on average over the last five fiscal years.
Revenue growing 10%+ a year
Revenue grew 13.5% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 129% a year over the last three fiscal years.
What to watch
Margin of safety under 20%
The price is 4.8% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 13.5% over the last twelve months and averaged 6.5% over five years; we look for 15% on both.
High debt
Debt is 103% of shareholders' equity, above the 40% we consider low.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals 18.2% of total debt; we look for at least 20%.
Valuation3/6
P/E below its 5-year median
MasTec's P/E of 30.9 is below its own 5-year median of 57.2.
P/E above the industry
MasTec's P/E of 30.9 is above the Heavy Construction Other Than Building Construction Contractors median of 28.1.
EV/EBITDA below its 5-year median
MasTec's EV/EBITDA of 15.8 is below its 5-year median of 18.0.
P/B above the industry
MasTec's price-to-book of 3.75 is above the Heavy Construction Other Than Building Construction Contractors median of 3.33.
Trading below fair value
The share price of $189.18 is below our fair value estimate of $198.75.
Margin of safety under 20%
The price is 4.8% below fair value, less than the 20% cushion we look for.
Growth6/6
Revenue growing 10%+ a year
Revenue grew 13.5% a year over the last three fiscal years.
EPS growing 10%+ a year
Diluted EPS grew 129% a year over the last three fiscal years.
Earnings growth accelerating
Net income grew 46.3% over the last twelve months, against a 5-year average of 4.3% a year.
Growing faster than the industry
Revenue grew 25.7% over the last twelve months; the Heavy Construction Other Than Building Construction Contractors median is 16.4%.
Guidance raised
MasTec raised its Full Year 2026E Adjusted net income outlook on Jul 30, 2026.
Gross margin improving
Gross margin was 12.7% over the last twelve months, against 12.5% a year earlier.
Past performance4/6
Return on equity under 15%
Return on equity was 13.5% over the last twelve months and averaged 6.5% over five years; we look for 15% on both.
Return on invested capital
Needs operating income and invested capital.
Return on equity above the industry
MasTec's return on equity of 13.5% is above the Heavy Construction Other Than Building Construction Contractors median of 12.7%.
Earnings grew over 5 years
Net income grew 4.3% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 2.8% over the last twelve months, against a 5-year average of 1.6%.
Net margin above the industry
MasTec's net margin of 2.8% is above the Heavy Construction Other Than Building Construction Contractors median of 2.6%.
Financial health1/6
High debt
Debt is 103% of shareholders' equity, above the 40% we consider low.
Debt rising against equity
Debt to equity rose from 65.1% five years ago to 103%.
Debt not well covered by cash flow
Operating cash flow over the last twelve months equals 18.2% of total debt; we look for at least 20%.
Interest coverage
Interest expense is not reported separately.
Short-term assets cover short-term debts
Current assets are 1.39 times current liabilities.
Bankruptcy risk in the grey zone
The Altman Z-score is 2.59; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
MasTec has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$198.75
The share price is 5% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 42.8× | 57.2× | 28.1× | $261.77 | 40% |
| EV/EBITDA | 15.9× | 18.0× | 13.8× | $193.37 | 35% |
| P/B | 3.2× | 3.1× | 3.3× | $163.29 | 10% |
| Earnings power | 10.9% cost of equity | – | – | $66.90 | 15% |
| Fair value | $198.75 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 57.2
- Heavy Construction Other Than Building Construction Contractors median 28.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $332.38M
- Value traded per 1% price move
- $117.88M
Downside
High risk
- Typical loss in a bad month
- 28.4%
- Volatility (annualized)
- 56%
- Sharpe ratio, 1 year
- -0.18
- Beta to the S&P 500 (5Y)
- 1.20
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +16.2% | +13.5% | +17.7% | +13.0% | |
| Gross profit | +10.2% | +14.6% | +11.3% | – | |
| Net income | +145.1% | +128.7% | +4.3% | – | |
| EPS, diluted | +146.1% | +129.4% | +3.0% | – | |
| Free cash flow | -70.6% | +47.6% | -17.0% | +0.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 12.9% | 17.0% | 12.9% | |
| Return on assets | 4.3% | 6.3% | 4.2% | |
| Current ratio | 1.67 | 1.67 | 1.32 | |
| Debt to equity | 0.94 | 0.65 | 0.72 | |
| Inventory turnover | – | 55.6× | 113.8× | |
| Capex to revenue | 2.3% | 3.4% | 1.8% | |
| Diluted shares | 81M | 74M | 79M |
Where the cash went
Fiscal 2021 to 2025, five years combined
MasTec generated $3.50B from operations and spent $1.19B on capital expenditure, dividends and share buybacks. 87% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 2.8% | 1.51× | 3.06× | 12.9% |
| FY2024 | 1.3% | 1.34× | 3.27× | 5.8% |
| FY2023 | -0.4% | 1.29× | 3.43× | -1.8% |
| FY2022 | 0.3% | 1.19× | 3.11× | 1.3% |
| FY2021 | 4.1% | 1.29× | 2.72× | 14.5% |
| FY2020 | 5.1% | 1.24× | 2.70× | 17.0% |
| FY2019 | 5.5% | 1.52× | 2.97× | 24.7% |
| FY2018 | 3.8% | 1.62× | 3.02× | 18.4% |
| FY2017 | 5.3% | 1.82× | 2.87× | 27.5% |
| FY2016 | 2.6% | 1.68× | 3.00× | 12.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$399.04M
- Cash generatingOperating cash flow above zero$545.71M
- Return on assets improvedROA up on the prior year1.7% → 4.4%
- Earnings backed by cashOperating cash flow above net income$545.71M vs $399.04M
- Less leverageLong-term debt to assets fell22.7% → 21.9%
- Better liquidityCurrent ratio rose1.22 → 1.32
- No dilutionShare count did not rise79M → 79M
- Gross margin improvedGross margin up on the prior year13.23% → 12.54%
- More efficientAsset turnover rose1.31 → 1.59
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