Mastec (MTZ)
NYSE:MTZ
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MasTec
(NYSE:MTZ)
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Rating:74Outperform
Price Target:
$390.00
▲(9.13% Upside)
Action:ReiteratedDate:02/27/26
MTZ scores well primarily on improved financial strength (notably the much cleaner balance sheet) and upbeat, specific 2026 guidance backed by backlog. Technicals also support the uptrend, though overbought signals add near-term risk. The biggest offset is valuation, with a high P/E and no dividend yield provided.
Positive Factors
Record backlog growth
A materially larger, multi-year backlog provides durable revenue visibility and reduces near-term bid risk for MasTec. Higher booked work smooths revenue cycles, supports resource planning and capital allocation, and underpins management’s multi-year guidance for mid‑teens organic growth and margin expansion.
Negative Factors
Thin, volatile margins
MasTec’s historically thin consolidated margins limit earnings leverage and increase sensitivity to cost overruns, labor or fuel inflation. Persistent margin variability across cycles constrains free cash flow consistency and raises execution risk on fixed‑price or unit‑price contracts over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Record backlog growth
A materially larger, multi-year backlog provides durable revenue visibility and reduces near-term bid risk for MasTec. Higher booked work smooths revenue cycles, supports resource planning and capital allocation, and underpins management’s multi-year guidance for mid‑teens organic growth and margin expansion.
Read all positive factors
MasTec (MTZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.19B
Dividend YieldN/A
Average Volume (3M)1.03M
Price to Earnings (P/E)42.4
Beta (1Y)1.57
Revenue Growth12.99%
EPS Growth274.10%
CountryUS
Employees32,000
SectorIndustrials
Sector Strength72
IndustryEngineering & Construction
Share Statistics
EPS (TTM)2.07
Shares Outstanding78,894,830
10 Day Avg. Volume797,012
30 Day Avg. Volume1,027,507
Financial Highlights & Ratios
PEG Ratio0.29
Price to Book (P/B)5.19
Price to Sales (P/S)1.18
P/FCF Ratio59.24
Enterprise Value/Market Cap1.09
Enterprise Value/Revenue2.14
Enterprise Value/Gross Profit18.20
Enterprise Value/Ebitda27.43
Forecast
1Y Price Target
$344.07Price Target Upside-3.72% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering15
EPS Forecast (FY)8.45
Revenue Forecast (FY)$16.95B
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 opera...
How the Company Makes Money
MasTec primarily makes money by performing contracted infrastructure construction and maintenance work for customers such as telecommunications carriers, electric utilities, renewable energy developers, and oil & gas/midstream operators. Revenue i...
MasTec Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call conveyed a strongly positive operational and financial momentum: record revenue, sizable backlog growth, solid EBITDA and EPS acceleration, ambitious 2026 guidance, strategic tuck-ins to expand capabilities, and a healthy balance sheet. Noted lowlights were mainly short-term margin pressure in certain segments (driven by start-up costs, mix, and timing/permitting delays) and working capital timing affecting 2025 cash flow. Given that the positives are broad, material, and underpinned by multi-year backlog and constructive guidance while lowlights are largely execution/timing related and management provided plans to address them, the overall tone is constructive and confident.Positive Updates
Record Revenue and Strong Top-Line Growth
Q4 revenue was just shy of $4.0B, up 16% year-over-year; full-year 2025 revenue was $14.3B, also up 16% and a new company record.
Negative Updates
Short-Term Margin Pressure in Communications
Q4 Communications EBITDA margin pulled back to ~8.5% from 9.0% year-over-year due in part to start-up costs on new programs and investments, producing a short-term drag on margins despite strong revenue growth.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue and Strong Top-Line Growth
Q4 revenue was just shy of $4.0B, up 16% year-over-year; full-year 2025 revenue was $14.3B, also up 16% and a new company record.
Read all positive updates
Company Guidance
MasTec guided 2026 revenue of $17.0 billion (≈19% growth vs. 2025; mid‑teens organic growth) with adjusted EBITDA of $1.45 billion (8.5% consolidated margin, ~26% EBITDA dollar growth and +50 bps margin expansion) and adjusted EPS of $8.40 (≈+30% vs. $6.55 in 2025). Management expects operating cash flow to exceed $1.0 billion (~70% EBITDA conversion), about $200 million of net capex, and assumes acquisitions will add ~ $500 million of revenue at high‑single‑digit EBITDA margins; Q1 2026 is guided to revenue +22% with adjusted EBITDA margin just over 7% (~+130 bps YoY), sequential revenue growth in Q2/Q3 (those quarters to be the year’s highest‑margin) and a seasonal Q4 decline. Segment margin assumptions include Communications in the low double digits, Pipeline in the mid‑teens, Power Delivery approaching double digits, and CE&I at high single digits (roughly flat given added construction‑management mix); balance sheet targets include maintaining strong liquidity and moving net leverage toward the low‑1x area from ~1.7x year‑end.MasTec Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 14.30B | 12.30B | 12.00B | 9.78B | 7.95B |
| Gross Profit | 1.37B | 1.63B | 786.81M | 1.19B | 1.15B |
| EBITDA | 1.12B | 950.85M | 754.86M | 662.46M | 906.31M |
| Net Income | 399.04M | 162.79M | -49.95M | 33.35M | 328.83M |
Balance Sheet | |||||
| Total Assets | 10.13B | 8.98B | 9.37B | 9.29B | 7.12B |
| Cash, Cash Equivalents and Short-Term Investments | 396.03M | 399.90M | 529.56M | 370.59M | 360.74M |
| Total Debt | 2.80B | 2.63B | 3.50B | 3.51B | 2.29B |
| Total Liabilities | 6.79B | 5.99B | 6.65B | 6.55B | 4.58B |
| Stockholders Equity | 3.26B | 2.91B | 2.71B | 2.74B | 2.54B |
Cash Flow | |||||
| Free Cash Flow | 285.73M | 972.77M | 494.34M | 88.94M | 623.01M |
| Operating Cash Flow | 545.71M | 1.12B | 687.28M | 352.30M | 793.07M |
| Investing Cash Flow | -291.77M | -157.49M | -178.06M | -821.18M | -1.36B |
| Financing Cash Flow | -258.91M | -1.09B | -351.00M | 480.90M | 501.94M |
MasTec Technical Analysis
Positive
357.37
Price Trends
291.54
Positive
255.97
Positive
222.84
Positive
Market Momentum
15.75
Negative
71.80
Negative
87.99
Negative
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 357.37 is above the 20-day moving average (MA) of 318.32, above the 50-day MA of 291.54, and above the 200-day MA of 222.84, indicating a bullish trend. The MACD of 15.75 indicates Negative momentum. The RSI at 71.80 is Negative, neither overbought nor oversold. The STOCH value of 87.99 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MTZ.
MasTec Risk Analysis
MasTec disclosed 35 risk factors in its most recent earnings report. MasTec reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MasTec Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $87.09B | 62.25 | 12.60% | 0.09% | 18.72% | 23.97% | |
74 Outperform | $28.19B | 42.42 | 13.08% | ― | 12.99% | 274.10% | |
74 Outperform | $8.85B | 24.39 | 17.49% | 0.25% | 21.45% | 67.31% | |
72 Outperform | $13.37B | 32.23 | 30.17% | ― | 6.20% | 72.81% | |
71 Outperform | $19.22B | 52.70 | 9.13% | ― | 10.69% | ― | |
66 Neutral | $11.74B | 37.65 | 18.81% | ― | 13.19% | 33.58% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
MTZ
MasTec
357.37
242.31
210.59%
DY
Dycom
391.62
240.55
159.23%
PRIM
Primoris Services
163.71
107.45
190.99%
PWR
Quanta Services
582.06
319.61
121.78%
STRL
Sterling Infrastructure
435.65
303.24
229.02%
APG
APi Group
44.14
21.26
92.92%
MasTec Corporate Events
Business Operations and StrategyFinancial Disclosures
MasTec Reports Record 2025 Results, Guides Strong 2026 Growth
Positive
Feb 26, 2026
MasTec reported record fourth-quarter and full-year 2025 results on February 26, 2026, with quarterly revenue up 16% year over year to $3.9 billion and full-year revenue rising 16% to $14.3 billion, both exceeding prior guidance. Earnings also sur...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.