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Mastec (MTZ)
NYSE:MTZ
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MasTec
(NYSE:MTZ)
69Neutral
Positive Factors
End Market Exposure
MTZ has diverse end market exposure and is positioned to benefit from a pro-fossil fuel policy agenda.
Operational Momentum
MasTec is beginning to execute well and gain operational momentum.
Negative Factors
Clean Energy Segment
The lone sore spot has been its Clean Energy & Infrastructure segment, which had a rocky history.
Sales Guidance
MTZ has missed sales guidance in five of the last seven years, contributing to the stock's underperformance relative to peers.
MasTec (MTZ) vs. S&P 500 (SPY)
Market Cap
$11.12B
Dividend YieldN/A
Average Volume (3M)1.24M
Price to Earnings (P/E)68.5
Beta (1Y)1.55
Revenue Growth3.03%
EPS GrowthN/A
CountryUS
Employees32,000
SectorIndustrials
Sector Strength78
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.51
Shares Outstanding78,902,756
10 Day Avg. Volume918,428
30 Day Avg. Volume1,237,224
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.18
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit8.03
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$160.82Price Target Upside14.16% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
MasTec Business Overview & Revenue Model
Company DescriptionMasTec, 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 MoneyMasTec generates revenue through a diversified business model that encompasses multiple sectors within the infrastructure construction industry. The company earns money by providing end-to-end construction services, which include design, engineering, procurement, construction, and maintenance. Key revenue streams include contracts with telecommunications companies for the deployment and maintenance of communication networks, such as 5G infrastructure. Additionally, MasTec serves the energy sector by constructing oil and gas pipelines and facilities, as well as renewable energy projects, including wind and solar installations. The company also benefits from partnerships and long-term contracts with major utilities and energy companies, which provide a steady flow of projects and recurring revenue. MasTec's diverse service offerings across various industries help mitigate risks associated with market fluctuations in any single sector, contributing to its financial stability and growth.
MasTec Financial Statement Overview
Summary
MasTec's financial performance is strong, with significant revenue growth and operational efficiency. The income statement shows impressive revenue increases and margin improvements, though net profitability varies. The balance sheet reflects a stable equity base, but rising leverage is a concern. Cash flow management is robust, supporting strategic initiatives.Income Statement
MasTec's income statement reveals a strong revenue growth trajectory, with an impressive rise from $6.32 billion in 2020 to $12.46 billion in TTM (Trailing-Twelve-Months) 2025. The gross profit margin improved significantly over the period, indicating efficient cost management. However, net profit margins have been inconsistent, with a downturn observed in certain years. The EBIT and EBITDA margins show resilience, highlighting operational efficiency. Overall, the company's revenue growth and operational performance are commendable, though net profitability requires monitoring.―
Balance Sheet
The balance sheet reflects a stable equity base, with stockholders' equity growing from $2.01 billion in 2020 to $2.88 billion in TTM 2025. The debt-to-equity ratio has increased, indicating higher leverage, which may pose a risk. The equity ratio remains healthy, suggesting a balanced asset structure. Despite the rise in total debt, the company maintains a robust asset base, positioning it well for future growth. However, the increasing leverage warrants careful monitoring.68
Cash Flow
MasTec's cash flow statement demonstrates solid operating cash flow, consistently exceeding net income, which is a positive indicator of cash-generating capability. Free cash flow has shown growth over time, supporting investment and financing activities. The free cash flow to net income ratio is strong, reflecting effective cash management. While capital expenditures are under control, fluctuations in investing and financing cash flows highlight potential volatility in cash deployment strategies.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 12.30B | 12.00B | 9.78B | 7.95B | 6.32B | Gross Profit |
| 1.63B | 786.81M | 1.19B | 1.15B | 1.05B | EBIT |
| 436.35M | 152.01M | 155.31M | 483.49M | 490.36M | EBITDA |
| 950.85M | 754.86M | 662.46M | 906.31M | 730.90B | Net Income Common Stockholders |
| 162.79M | -49.95M | 33.35M | 328.83M | 322.85M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 399.90M | 529.56M | 370.59M | 360.74M | 423.12M | Total Assets |
| 8.98B | 9.37B | 9.29B | 7.12B | 5.23B | Total Debt |
| 2.63B | 3.50B | 3.51B | 2.05B | 1.27B | Net Debt |
| 2.23B | 2.97B | 3.14B | 1.69B | 851.02M | Total Liabilities |
| 5.99B | 6.65B | 6.55B | 4.58B | 3.22B | Stockholders Equity |
| 2.91B | 2.71B | 2.74B | 2.54B | 2.01B |
| Cash Flow | Free Cash Flow | |||
| 972.77M | 494.34M | 88.94M | 623.01M | 723.51M | Operating Cash Flow |
| 1.12B | 687.28M | 352.30M | 793.07M | 937.25M | Investing Cash Flow |
| -157.49M | -178.06M | -821.18M | -1.36B | -216.60M | Financing Cash Flow |
| -1.09B | -351.00M | 480.90M | 501.94M | -369.89M |
MasTec Technical Analysis
Positive
140.87
Price Trends
121.28
Positive
131.61
Positive
126.36
Positive
Market Momentum
3.31
Negative
69.09
Neutral
90.01
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 140.87 is above the 20-day moving average (MA) of 119.62, above the 50-day MA of 121.28, and above the 200-day MA of 126.36, indicating a bullish trend. The MACD of 3.31 indicates Negative momentum. The RSI at 69.09 is Neutral, neither overbought nor oversold. The STOCH value of 90.01 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
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $13.58B | 29.12 | 26.35% | 0.94% | 8.89% | 669.67% | |
76 Outperform | $11.89B | 83.23 | 9.09% | ― | 3.20% | ― | |
74 Outperform | $6.01B | 2.93 | 72.85% | ― | 5.43% | 2094.12% | |
71 Outperform | $15.52B | 26.10 | 10.92% | 0.94% | -13.76% | -13.39% | |
71 Outperform | $47.59B | 53.26 | 13.48% | ― | 15.77% | 19.58% | |
69 Neutral | $11.12B | 68.55 | 7.70% | ― | 3.03% | ― | |
64 Neutral | $4.27B | 11.81 | 5.31% | 249.66% | 4.08% | -8.61% |
* Industrials Sector Average
Performance Comparison
MTZ
MasTec
140.87
35.05
33.12%
ACM
Aecom Technology
102.35
7.01
7.35%
FLR
Fluor
35.77
-3.24
-8.31%
J
Jacobs Solutions
126.68
3.27
2.65%
PWR
Quanta Services
321.14
52.00
19.32%
APG
APi Group
42.32
4.91
13.12%
MasTec Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q1-2025)
| % Change Since: 5.12%|
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The earnings call reflected a strong performance by MasTec in Q1 2025, with record revenues and significant growth across non-pipeline segments, particularly in Communications and Clean Energy. Despite challenges in the pipeline segment and concerns about potential policy and tariff impacts, the company remains optimistic due to strong backlog growth and increased full-year guidance.Q1-2025 Updates
Positive Updates
Record First Quarter Revenue and Growth
Exceeded guidance in revenue, EBITDA, and EPS for Q1 2025. Revenue was $2.85 billion, and adjusted EBITDA was $164 million, surpassing expectations by about 5% and 3%, respectively.
Non-Pipeline Segments Performance
Non-pipeline segments improved EBITDA from $97 million in last year's first quarter to $155 million in this year's first quarter, a 60% year-over-year increase. Non-pipeline revenue was up by over 21%, with every segment delivering double-digit revenue growth.
Communications Segment Surge
Communications segment saw top-line growth of 35% year-over-year and 82% adjusted EBITDA growth with a 180 basis point improvement in margin. Backlog increased 7% sequentially to $4.9 billion.
Clean Energy and Infrastructure Growth
Revenue grew 22% year-over-year, and adjusted EBITDA more than doubled to $57 million with a margin of 6.2%. Backlog for this segment was up sequentially to a record level of $4.4 billion with a book-to-bill ratio of nearly 1.2x.
Increased Full-Year 2025 Guidance
Raised full-year 2025 revenue guidance to $13.65 billion, with EBITDA guidance between $1.120 billion to $1.160 billion, and increased EPS guidance midpoint to $6.08 per share.
Strong Backlog Growth
Backlog was up materially, representing one of the largest sequential increases in the Company's history, with a 10% sequential increase and a book-to-bill ratio of 1.55x.
Negative Updates
Pipeline Segment Decline
Pipeline segment experienced a revenue decline of 44% with a 52% drop in profit, primarily due to the challenging comparisons from the MVP project wind down in the previous year.
Weather and Productivity Headwinds in Power Delivery
Power Delivery segment faced weather impacts and productivity headwinds in select projects, resulting in a slight decline in margins compared to the prior year.
Potential Tariff and Policy Uncertainty
Concerns regarding potential changes to federal renewable support, tariffs, and IRA were noted, with possible timing headwinds and market risks that might affect the broader industry.
Company Guidance
In MasTec's First Quarter 2025 Financial Results Conference Call, the company reported exceeding its guidance in key financial metrics, including revenue, EBITDA, and EPS. Revenue for the quarter was $2.85 billion, and adjusted EBITDA was $164 million, surpassing forecasts by 5% and 3%, respectively. Notably, the non-pipeline segments showed significant growth, with non-pipeline EBITDA increasing by 60% year-over-year. The company raised its full-year 2025 guidance, with revenue now expected to reach $13.650 billion, EBITDA between $1.120 billion and $1.160 billion, and EPS averaging $6.08 per share. MasTec's backlog increased by over 10% sequentially, with a book-to-bill ratio of 1.55x, indicating strong future demand. The Communications segment saw a 35% revenue increase and an 82% growth in adjusted EBITDA. The Power Delivery segment grew by 13%, while Clean Energy and Infrastructure rose by 22%. Despite a 44% revenue decline in the Pipeline Infrastructure segment, due to challenging comparisons, backlog for pipeline projects more than doubled sequentially, suggesting a positive outlook for 2026. Overall, MasTec expressed optimism for sustained growth, driven by strong market positions and improving operational efficiency.MasTec Corporate Events
Stock BuybackBusiness Operations and StrategyFinancial Disclosures
MasTec Reports Strong Q1 2025 Financial Results
Positive
May 2, 2025
On May 1, 2025, MasTec announced its financial results for the first quarter of 2025, reporting a 6% increase in revenue to $2.8 billion, driven by strong growth in non-pipeline segments. The company also raised its financial guidance for the year, highlighting a significant increase in its 18-month backlog to $15.9 billion, a 24% year-over-year growth. The results exceeded expectations with a diluted EPS of $0.13 and adjusted diluted EPS of $0.51, and the company completed $77 million in share repurchases. MasTec’s CEO, Jose Mas, emphasized the company’s strong financial performance and ongoing backlog development, particularly in the Pipeline Infrastructure segment.
Spark’s Take on MTZ Stock
According to Spark, TipRanks’ AI Analyst, MTZ is a Outperform.
MasTec’s overall stock score reflects strong financial performance and a positive earnings outlook, which are slightly tempered by technical analysis and valuation concerns. The company’s robust revenue growth and improved profitability are significant strengths, while the high P/E ratio and mixed technical indicators present some risks.
To see Spark’s full report on MTZ stock, click here.
Business Operations and StrategyFinancial Disclosures
MasTec Reports Record 2024 Revenues and Strong 2025 Outlook
Positive
Feb 28, 2025
On February 27, 2025, MasTec announced its financial results for the fourth quarter and full year of 2024, reporting record revenues of $3.4 billion for the quarter and $12.3 billion for the year. The company also achieved a significant increase in cash flow from operations and a reduction in net debt, with a record 18-month backlog of $14.3 billion. MasTec provided initial guidance for 2025, projecting a 9% revenue increase to $13.45 billion, with improvements in net income and earnings per share. The company’s strong financial performance in 2024, highlighted by a substantial backlog growth, positions it well for continued growth and operational success in 2025.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.