MasTec (MTZ) AI Stock Analysis

• Market Cap: $18.60B
• Dividend Yield: N/A
• Average Volume (3M): 705.18K
• Price to Earnings (P/E): 52.1
• Beta (1Y): 1.70
• Revenue Growth: 12.99%
• EPS Growth: 274.10%
• Country: US
• Employees: 32,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 2.48
• Shares Outstanding: 78,900,930
• 10 Day Avg. Volume: 525,785
• 30 Day Avg. Volume: 705,181
• PEG Ratio: -0.15
• Price to Book (P/B): 3.65
• Price to Sales (P/S): 0.86
• P/FCF Ratio: 10.92
• Enterprise Value/Market Cap: 1.04
• Enterprise Value/Revenue: 1.41
• Enterprise Value/Gross Profit: 11.24
• Enterprise Value/Ebitda: 18.58
• 1Y Price Target: $253.91
• Price Target Upside: 15.92% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $237.00 ▲(8.20% Upside)

MTZ scores as moderately attractive: solid financial performance (growth and improved balance sheet) and a strong, upbeat earnings call with record backlog are key positives. The score is held back by weak free-cash-flow trends and a demanding valuation (high P/E), while technicals suggest a longer-term uptrend but near-term consolidation.

Positive Factors

Record Backlog / Demand

A $16.8B backlog up 21% YoY provides multi‑period revenue visibility and supports sustained utilization and bidding leverage. Large, diversified backlog smooths revenue volatility, enables resource planning, and underpins mid‑term growth expectations across segments.

Diversified Segment Growth

Broad‑based growth across Communications, Clean Energy, and Power Delivery reduces end‑market concentration risk and positions MasTec to capture secular infrastructure spending. Diversification supports revenue resilience if any single sector softens over the next several quarters.

Improved Leverage & Profitability

Significantly reduced leverage (D/E ~0.18) and higher ROE signal a stronger balance sheet and greater financial flexibility. Lower debt limits refinancing risk, supports bidding on large EPC projects, and allows reinvestment or M&A without destabilizing capital structure.

Negative Factors

Weak Free Cash Flow Trend

A steep ~34% decline in FCF and low operating cash conversion (OCF/net income ~0.20) constrain the firm's ability to self‑fund growth, service unexpected cost overruns, or return capital. Persistent weaker cash generation raises execution risk on multi‑year EPC projects.

Margin Pressure / Falling EBIT/EBITDA Margins

Declining operating margins despite revenue growth imply rising execution costs or mix shifts. If EBIT/EBITDA erosion continues, profitability per project will be pressured, reducing free cash flow and making margin recovery dependent on sustained efficiency improvements.

Execution Risk from Project Delays

Permitting delays on large projects like Greenlink illustrate regulatory and scheduling execution risks inherent in infrastructure builds. Delays can push revenue recognition, inflate working capital needs, and concentrate backlog timing risk despite healthy aggregate backlog levels.

MasTec Business Overview & Revenue Model

Company Description

MasTec, Inc., an infrastructure 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 Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other segments. The company builds underground and overhead distribution systems, including trenches, conduits, cell towers, cable, and power lines, which provide wireless and wireline/fiber communications; clean energy infrastructure comprising renewable energy; natural gas, product transport; electrical and gas transmission, and distribution systems; heavy industrial plants; compressor and pump stations, and treatment plants; water and sewer infrastructure, including water pipelines; and other civil construction infrastructure. It also installs electrical and other gas distribution and transmission systems, power generation facilities, buried and aerial fiber optic and other cables, as well as home automation and energy management solutions. 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 heavy civil infrastructure; service restoration for natural disasters and accidents; and routine replacements and upgrades to overhauls. Its customers include public and private energy providers, pipeline operators, wireless and wireline/fiber service providers, broadband operators, install-to-the-home service providers, and government entities. MasTec, Inc. was founded in 1929 and is headquartered in Coral Gables, Florida.

How the Company Makes Money

MasTec generates revenue through a variety of channels, primarily by providing infrastructure services to clients in the telecommunications, energy, and transportation sectors. Key revenue streams include contracts for the construction and maintenance of telecommunications networks, installation of pipelines for oil and gas, and electric power transmission services. The company often engages in long-term contracts with major utility companies, telecommunications firms, and government agencies, ensuring a consistent revenue flow. Additionally, MasTec may benefit from strategic partnerships with leading technology and energy companies, which can enhance its service offerings and expand its market reach. Overall, the company's diverse service portfolio and focus on infrastructure development positions it to capitalize on the growing demand for reliable and modern infrastructure solutions.

MasTec Financial Statement Overview

Summary

MasTec demonstrates strong revenue growth and improved profitability metrics, with a healthier balance sheet due to reduced leverage. However, declining free cash flow and operational margins pose potential risks. Continued focus on operational efficiency and cash flow management will be crucial for sustained financial health.

Income Statement

MasTec's revenue growth is strong, with a 5.48% increase in the TTM period, indicating robust demand. The gross profit margin is stable at 12.50%, though slightly lower than previous years. The net profit margin has improved to 2.41% in the TTM, reflecting better cost management. However, EBIT and EBITDA margins have decreased, suggesting potential operational inefficiencies.

Balance Sheet

The company's debt-to-equity ratio has significantly improved to 0.18 in the TTM, indicating reduced leverage and a stronger balance sheet. Return on equity has increased to 11.17%, showing enhanced profitability. The equity ratio remains stable, reflecting a balanced asset structure.

Cash Flow

Free cash flow has declined by 33.92% in the TTM, raising concerns about cash generation. The operating cash flow to net income ratio is 0.20, indicating moderate cash conversion efficiency. The free cash flow to net income ratio is 0.65, suggesting adequate cash flow relative to earnings.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	13.76B	12.30B	12.00B	9.78B	7.95B	6.32B
Gross Profit	1.72B	1.63B	786.81M	1.19B	1.15B	1.05B
EBITDA	1.04B	950.85M	754.86M	662.46M	906.31M	782.54M
Net Income	331.07M	162.79M	-49.95M	33.35M	328.83M	322.85M
Balance Sheet
Total Assets	9.69B	8.98B	9.37B	9.29B	7.12B	5.23B
Cash, Cash Equivalents and Short-Term Investments	231.42M	399.90M	529.56M	370.59M	360.74M	423.12M
Total Debt	2.77B	2.63B	3.50B	3.51B	2.29B	1.49B
Total Liabilities	6.51B	5.99B	6.65B	6.55B	4.58B	3.22B
Stockholders Equity	3.11B	2.91B	2.71B	2.74B	2.54B	2.01B
Cash Flow
Free Cash Flow	416.59M	972.77M	494.34M	88.94M	623.01M	723.51M
Operating Cash Flow	644.67M	1.12B	687.28M	352.30M	793.07M	937.25M
Investing Cash Flow	-232.02M	-157.49M	-178.06M	-821.18M	-1.36B	-216.60M
Financing Cash Flow	-360.76M	-1.09B	-351.00M	480.90M	501.94M	-369.89M

MasTec Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 219.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTZ, the sentiment is Positive. The current price of 219.03 is below the 20-day moving average (MA) of 223.60, above the 50-day MA of 212.51, and above the 200-day MA of 179.17, indicating a neutral trend. The MACD of 4.38 indicates Positive momentum. The RSI at 48.39 is Neutral, neither overbought nor oversold. The STOCH value of 69.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MTZ.

MasTec Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APG	79 Outperform	$17.84B	111.45	8.71%	―	10.69%	―
DY	78 Outperform	$10.27B	33.45	21.90%	―	13.19%	33.58%
PWR	78 Outperform	$65.15B	61.29	13.16%	0.09%	18.72%	23.97%
PRIM	75 Outperform	$6.93B	24.67	18.56%	0.25%	21.45%	67.31%
STRL	71 Outperform	$9.59B	29.18	35.73%	―	6.20%	72.81%
MTZ	66 Neutral	$18.60B	52.08	11.18%	―	12.99%	274.10%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

MasTec Corporate Events

MasTec Reports Record Q3 2025 Financial Results

On October 30, 2025, MasTec announced its financial results for the third quarter of 2025, reporting record revenue of $4.0 billion, a 22% increase year-over-year, and a record 18-month backlog of $16.8 billion. The company exceeded its guidance expectations with a GAAP net income of $166.5 million and an adjusted EBITDA of $373.5 million. MasTec’s strong performance is attributed to robust customer demand across all segments, particularly in pipeline infrastructure, and efficient operating execution. The company has updated its financial guidance for the full year 2025, projecting continued double-digit growth in revenue and adjusted EBITDA, despite challenges in the Power Delivery segment.

The most recent analyst rating on (MTZ) stock is a Buy with a $265.00 price target. To see the full list of analyst forecasts on MasTec stock, see the MTZ Stock Forecast page.