MasTec, Inc.MTZ
NYSE•Industrials•Engineering & Construction
MasTec, Inc., an infrastructure engineering and construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Power Delivery, Pipeline Infrastructure, and Other. The company builds infrastructure for wireless and wireline/fiber communications; clean energy infrastructure comprising renewable energy power generation; pipeline infrastructure, including natural gas, water, carbon capture sequestration, and other product transport; power delivery services, such as electrical and gas transmission, and distribution systems; industrial and heavy civil infrastructure, including roads, bridges, and rail; and water infrastructure. It also installs electrical and other gas distribution and transmission systems, power generation, civil and industrial facilities, pipelines, and fiber optic and other cables, as well as install-to-the-home services. In addition, the company offers maintenance and upgrade support services comprising maintenance of customers' distribution facilities, networks, and infrastructure, including communications, power generation, pipeline, electrical distribution and transmission, and civil and industrial infrastructure; emergency restoration services for natural disasters and accidents; and routine replacements and upgrades to overhauls. Its customers include wireless and wireline/fiber service providers, broadband operators, install-to-the-home service providers, public and private energy providers, including renewable and other energy providers, pipeline operators, civil, transportation, and water and wastewater pipeline installation services, industrial infrastructure providers, as well as government entities. MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida.
MasTec, Inc. (MTZ) reported trailing twelve months revenue of $15.28B as of March 2026, a 22.6% increase year-over-year. Quarterly revenue reached $3.83B, reflecting continued top-line momentum.
MasTec, Inc. generated $449.98M in TTM net income, with quarterly EBITDA of $263.70M. The operating margin contracted from 5.1% to 3.7%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (3.7%) and net margin (1.6%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 0.3% a year ago, signaling stronger bottom-line efficiency.
MTZ trades at a P/E of 53.0x (a premium multiple) and a P/S of 1.6x. The price-to-book ratio of 7.2x indicates a significant premium over book value.
The company generated $2.09M in free cash flow over the trailing twelve months, a 93.3% decrease year-over-year, indicating cash generation ability. The balance sheet shows $10.44B in total assets with $2.38B in long-term debt against $3.31B in stockholders equity for a debt-to-equity ratio of 0.7. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~7.3% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~7.7% on average, adequate but below the threshold typically associated with wide moats.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (6 of 7 quarters up), with ~25.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 6.8% — watch for continued compression, which may signal competitive or cost pressure.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation