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Mastec Inc (MTZ) stock

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NYSE: MTZ NYSE Construction & Engineering Next results ~January 28, 2027

B Fundamentals grade

Mastec Inc is a US-listed company in the construction & engineering industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$330

Cash-flow model

Base case. Range ~$240–$450 across our lower- and higher-growth cases (14.7%–24.7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 72% above it.

Price used: $193.77, November 2, 2026

Mastec Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Mastec files

10-Q filed October 29: Mastec

MasTec's revenue over the twelve months to September 2026 reached $17.3bn, a 25.7% increase on the year before and an acceleration from the 23.5% growth recorded a quarter earlier. Free-cash-flow margin was unchanged at 2.3%. The fundamentals grade has edged up from C to C+. Our model value remains broadly steady at $350 a share, well above the current price of $188, and the rating stays at Buy. At that share price, the market appears to be pricing in cash-flow growth of around 9.0% a year over the next five years, a figure that lags the 16.8% a year revenue growth MasTec has actually delivered. The gap between those two numbers underpins the case for the stock.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Mastec stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $16.1bn, up 23.5% on a year earlier, faster than 22.6% a quarter earlier. That growth ranks 146 of 931 among all the companies we cover. Free-cash-flow margin fell to 1.5% from 4.8% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $371 a share, against a share price of $188. At that price, our model says the market is pricing in about 6.3% a year of cash-flow growth for five years, slower than the 15.2% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

Mastec Inc's trailing-twelve-month revenue grew 25.7% year on year, with a free-cash-flow margin of 2.3%. Where it stands out: stock pay as % of revenue of 0.2% ranks 5 of 33 construction & engineering companies we cover.

Our discounted-cash-flow model values the business at ~$330 per share in the base case (~$240–$450 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 2.9% while net income grew 46.3%: a 49pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $193.77 is 72% below our value per share of $330.
  • Fast growth. Revenue grew 25.7% over the last 12 months, against a median of 21.2% for construction & engineering companies we cover.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of 1.6 against the S&P 500.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 10.5% over 90 days.

Latest results: FY2026 Q3

Filed October 29, 2026
Earnings per share
$2.96 against an average estimate of $2.96: beat by 0.1%
Revenue
$5.15bn, up 29.9% on a year earlier
Share reaction
+2.8% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
revenue $4,930m (3Q'26E); revenue $18,200m (Full Year 2026E)
Next report
October 29, 2026; average EPS estimate $2.69

Mastec's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.1%
  • 1 week+12.3%
  • 1 month-10.3%
  • This year-10.9%
  • 1 year-5.1%
  • 5 years+115.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$17.3B
Net margin
2.8%
EPS (TTM, diluted)
$6.13

Growth

Revenue growth
+25.7%
Change in growth rate
+2.2 pts
Share count change
+0.0%

Cash

Free cash flow (TTM)
$405M
FCF margin
2.3%
Stock pay % of revenue
0.2%

Earnings

Last results
October 29, 2026
Next results (est.)
January 28, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement
  3. Agreement
  4. Results
  5. Guidance
  6. Financing
  7. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Mastec Inc valuation models and calculator

What the price is pricing in

The share price implies about 11.7% a year of cash-flow growth for five years.That is slower than the 16.8% a year revenue growth Mastec has delivered.

  • Priced in11.7%
  • Last 12 months25.7%
  • 3 years a year13.8%
  • 5 years a year16.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($199.49, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$330
Price used
$199.49close November 3, 2026
Implied change
▲ +67%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Mastec Inc's free cash flow after stock-based pay with after-tax interest added back ($688M, FY2026 Q3 TTM), growing 19.6% and 19.1% in the next two years (forecasts, guidance and its record), then back to 19.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$240–~$450 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Mastec Inc's free cash flow after stock-based pay ( $688M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Mastec Inc as an operating company, with every model that fits that kind of business. Cost of equity 11.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.39 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$330 ~$240–$450 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$64–$160 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$170 ~$150–$240 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$26 ~$17–$38 Left out: out of range vs price (0.13x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$19 ~$17–$22 Left out: out of range vs price (0.10x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$240 ~$120–$330 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Mastec Inc with Construction & Engineering in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −30%
  • Revenue growth 5 points higher ▲ +38%
  • Free-cash-flow margin 1 point lower ▼ −54%
  • Last year's free-cash-flow margin change, if it persists ▼ −27%
  • Discount rate 1 point higher ▼ −20%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $76$121$180$257$359$489
8.5% $47$79$122$177$250$342
10% $30$54$87$130$185$255

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$17.38$38.25$48.95$40.56$64.16$68.18$92.28$85.33$75.72$136.14$217.37$193.77
Market value$1.4bn$3.1bn$4.0bn$3.2bn$4.9bn$5.0bn$6.8bn$6.5bn$5.9bn$10.7bn$17.1bn$15.3bn
+ Net debt (− = net cash)$1.0bn$987m$1.3bn$1.4bn$1.4bn$880m$1.7bn$2.9bn$2.5bn$1.8bn$1.9bn$3.7bn
Enterprise value$2.4bn$4.1bn$5.4bn$4.6bn$6.2bn$5.9bn$8.5bn$9.4bn$8.4bn$12.6bn$19.0bn$19.0bn
Multiples
Price / sales 0.3x0.6x0.6x0.5x0.7x0.8x0.9x0.7x0.5x0.9x1.2x0.9x
Price / earnings —23.7x11.6x12.5x12.4x15.6x20.8x194.9x—66.0x42.9x31.6x
Price / free cash flow 4.9x35.2x194.8x9.3x11.5x6.9x11.0x73.1x11.9x11.0x59.9x37.8x
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

35 /100

Weak moat

How hard Mastec's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Net income has been a median 3.7% of total assets over 10 years.

  • Durability 0 / 20

    Net margin has been a median 2.9%; its worst year was -0.4%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 9 of 10 years, at a median 2.7% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 7.0% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $9.27 +42% $18.2bn +27%
Next $12.36 +33% $21.5bn +18%

Next year's EPS estimate has moved −10.5% in 90 days, across 19 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.6% on 90 days ago. In the last 30 days, 0 analysts raised Mastec Inc's forecast and 5 cut it.

Consensus EPS forecast Mastec Inc, last 90 days
$8.00 $10.00 $12.00 $14.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $9.52 Current fiscal year, 60 days ago: $9.31 Current fiscal year, 30 days ago: $9.31 Current fiscal year, 7 days ago: $9.28 Current fiscal year, Now: $9.27 $9.27 Next fiscal year, 90 days ago: $13.81 Next fiscal year, 60 days ago: $12.49 Next fiscal year, 30 days ago: $12.55 Next fiscal year, 7 days ago: $12.38 Next fiscal year, Now: $12.36 $12.36

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $9.52$13.81
60 days ago $9.31$12.49
30 days ago $9.31$12.55
7 days ago $9.28$12.38
Now $9.27$12.36

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $2.96 $2.96 +0.1%
Jun 2026 $2.23 $2.22 −0.6%
Mar 2026 $0.99 $1.39 +40.6%
Dec 2025 $1.95 $2.07 +6.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • Revenue Full Year 2026E about $18,200m
    “Revenue $ 4,930 $ 18,200” source
  • Revenue 3Q'26E about $4,930m
    “Revenue $ 4,930 $ 18,200” source
  • Full Year Diluted EPS guidance Full Year about $6.20 GAAP
    “Updated Full Year Diluted EPS guidance to $6.20, a 22% year-over-year increase; Increased Full Year Adjusted Diluted EPS guidance to $9.30, a 42% year-over-year increase” source
  • Full Year Adjusted Diluted EPS guidance Full Year about $9.30 Non-GAAP Raised
    “Updated Full Year Diluted EPS guidance to $6.20, a 22% year-over-year increase; Increased Full Year Adjusted Diluted EPS guidance to $9.30, a 42% year-over-year increase” source
  • GAAP diluted earnings per share 3Q'26E about $2.03 GAAP
    “GAAP diluted earnings per share $ 2.03 $ 6.20” source
  • Adjusted diluted earnings per share 3Q'26E about $2.98 Non-GAAP
    “Adjusted diluted earnings per share $ 2.98 $ 9.30” source
Show 8 more items
  • GAAP net income Full Year 2026E about $539m GAAP
    “GAAP net income $ 176 $ 539” source
  • Adjusted net income Full Year 2026E about $785m Non-GAAP
    “Adjusted net income $ 252 $ 785” source
  • Adjusted EBITDA Full Year 2026E about $1,600m Non-GAAP
    “Adjusted EBITDA $ 482 $ 1,600” source
  • Adjusted EBITDA margin Full Year 2026E about 8.8% Non-GAAP
    “Adjusted EBITDA margin 9.8% 8.8%” source
  • GAAP net income 3Q'26E about $176m GAAP
    “GAAP net income $ 176 $ 539” source
  • Adjusted net income 3Q'26E about $252m Non-GAAP
    “Adjusted net income $ 252 $ 785” source
  • Adjusted EBITDA 3Q'26E about $482m Non-GAAP
    “Adjusted EBITDA $ 482 $ 1,600” source
  • Adjusted EBITDA margin 3Q'26E about 9.8% Non-GAAP
    “Adjusted EBITDA margin 9.8% 8.8%” source

How earlier guidance turned out

  • GAAP diluted earnings per share, 3Q'26E guided about $2.03 Below range: $1.89
  • GAAP net income, 3Q'26E guided about $176m Below range: $151m
  • Revenue, 3Q'26E guided about $4,930m Above range: $5,152m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Mastec Inc's revenue by +19.6% next year and +19.1% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+19.5%, weight 56%) , management guidance (+19.6%, weight 19%) and the company's own record (+19.7%, weight 25%) . How the weights are set.

Analyst recommendations

21 analysts, Oct 2026
Buy21100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202641721
  2. Sep 202631721
  3. Aug 202621720
  4. Jul 202621720

Counts of recommendations published by analysts covering Mastec Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.0%
of tradable shares
Days to cover
2.85
at average volume
Short interest, 1 month
−17%
to October 15, 2026
Held by institutions
77%
of shares
Held by insiders
21.2%
of shares
Employees
37,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −5.1%

$204.16 on October 31, 2025 to $193.77

ThenNowEffect
Revenue (last 12 months) $13.0bn $16.1bn +23.5%
Net margin 2.0% 3.1% +50.7%
P/E multiple 60.8x 30.9x −49.2%
Share count 79m 79m +0.5%

Biggest factor: p/e multiple.

Last 3 years +275.7%

$51.58 on November 3, 2023 to $193.77

ThenNowEffect
Revenue (last 12 months) $11.0bn $16.1bn +46.7%
P/S multiple 0.4x 0.9x +160.3%
Share count 77m 79m −1.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MTZ+35%−8%−11%+80%+60%−11%
Industry peers (median)+41%−8%+46%+47%+25%+0%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MTZ67%50%42%58%67%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MTZ−30%−35%−61%−17%−34%−61%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 68% from November 5, 2019 to March 18, 2020. Getting back needed a 212% gain, reached on January 6, 2021, 294 days after the low.

Price behaviour

52-week range
$171.05 – $437.51
From 52-week high
−55.7%
vs 50-day average
−9.5%
vs 200-day average
−35.9%
Volatility (1 year)
52%
Beta vs S&P 500
1.63

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±8.1%
After a week
7 up, 4 down
typical move ±10.8%
After a month
5 up, 6 down
typical move ±11.5%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 +2.8% −2.1% — —
July 30, 2026 −8.5% +2.4% −10.0% −16.2%
April 30, 2026 +12.6% +1.3% +11.3% −2.3%
February 26, 2026 +4.5% −1.0% +3.5% +10.8%
October 30, 2025 −7.8% −0.8% −11.2% −4.2%
July 31, 2025 −8.3% −2.0% −3.6% −4.3%
May 2, 2025 +7.1% +0.9% +10.6% +19.1%
February 28, 2025 +0.7% −0.2% −9.0% −8.0%
October 31, 2024 +8.3% −1.5% +17.9% +18.4%
August 2, 2024 −4.4% −4.7% +0.5% −1.7%
May 3, 2024 +16.3% +2.3% +18.8% +18.6%
March 1, 2024 +16.2% +0.8% +22.4% +22.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Mastec Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.23× the last 60 days’ realised volatility , richer than 61% of the 229 stocks we screen today.
  • Puts are priced 3 points richer than calls (25-delta): the market is paying up for downside protection, which favours selling puts over calls.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Mastec Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Mastec Inc
$10B $12B $14B $16B $18B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $12B Revenue (TTM), FY24 Q1: $12.1B Revenue (TTM), FY24 Q2: $12.2B Revenue (TTM), FY24 Q3: $12.2B Revenue (TTM), FY24 Q4: $12.3B Revenue (TTM), FY25 Q1: $12.5B Revenue (TTM), FY25 Q2: $13B Revenue (TTM), FY25 Q3: $13.8B Revenue (TTM), FY25 Q4: $14.3B Revenue (TTM), FY26 Q1: $15.3B Revenue (TTM), FY26 Q2: $16.1B Revenue (TTM), FY26 Q3: $17.3B $17.3B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $12B
FY24 Q1 $12.1B
FY24 Q2 $12.2B
FY24 Q3 $12.2B
FY24 Q4 $12.3B
FY25 Q1 $12.5B
FY25 Q2 $13B
FY25 Q3 $13.8B
FY25 Q4 $14.3B
FY26 Q1 $15.3B
FY26 Q2 $16.1B
FY26 Q3 $17.3B
Revenue growth, TTM YoY Mastec Inc
0% 10% 20% 30% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 22.7% Revenue growth, TTM YoY, FY24 Q1: 16.2% Revenue growth, TTM YoY, FY24 Q2: 11.0% Revenue growth, TTM YoY, FY24 Q3: 3.9% Revenue growth, TTM YoY, FY24 Q4: 2.6% Revenue growth, TTM YoY, FY25 Q1: 3.0% Revenue growth, TTM YoY, FY25 Q2: 7.1% Revenue growth, TTM YoY, FY25 Q3: 13.0% Revenue growth, TTM YoY, FY25 Q4: 16.2% Revenue growth, TTM YoY, FY26 Q1: 22.6% Revenue growth, TTM YoY, FY26 Q2: 23.5% Revenue growth, TTM YoY, FY26 Q3: 25.7% 25.7%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 22.7%
FY24 Q1 16.2%
FY24 Q2 11.0%
FY24 Q3 3.9%
FY24 Q4 2.6%
FY25 Q1 3.0%
FY25 Q2 7.1%
FY25 Q3 13.0%
FY25 Q4 16.2%
FY26 Q1 22.6%
FY26 Q2 23.5%
FY26 Q3 25.7%
FCF margin (TTM) Mastec Inc
0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 4.1% FCF margin (TTM), FY24 Q1: 6.0% FCF margin (TTM), FY24 Q2: 8.4% FCF margin (TTM), FY24 Q3: 8.2% FCF margin (TTM), FY24 Q4: 7.9% FCF margin (TTM), FY25 Q1: 7.4% FCF margin (TTM), FY25 Q2: 4.8% FCF margin (TTM), FY25 Q3: 3.0% FCF margin (TTM), FY25 Q4: 2.0% FCF margin (TTM), FY26 Q1: 1.7% FCF margin (TTM), FY26 Q2: 1.5% FCF margin (TTM), FY26 Q3: 2.3% 2.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 4.1%
FY24 Q1 6.0%
FY24 Q2 8.4%
FY24 Q3 8.2%
FY24 Q4 7.9%
FY25 Q1 7.4%
FY25 Q2 4.8%
FY25 Q3 3.0%
FY25 Q4 2.0%
FY26 Q1 1.7%
FY26 Q2 1.5%
FY26 Q3 2.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1.6 2.1 2.8 3.7 4.3 4.6 4.2 5.1 6.6 6.9 7.2 6.3 8.0 9.8 12.0 12.3 14.3 17.3
Net income 0.1 0.1 0.1 0.1 0.1 0.1 −0.1 0.1 0.3 0.3 0.4 0.3 0.3 0.0 −0.0 0.2 0.4 0.5
Diluted EPS $0.90 $1.05 $1.23 $1.31 $1.66 $1.35 −$0.98 $1.61 $4.22 $3.26 $5.17 $4.38 $4.45 $0.42 −$0.64 $2.06 $5.07 $6.13
Growth (year on year)
Revenue — +32.0% +32.1% +31.6% +16.0% +6.6% −8.7% +22.0% +28.7% +4.6% +4.0% −12.0% +25.8% +23.0% +22.7% +2.6% +16.2% +25.7%
Net income — +28.0% +17.1% +1.3% +31.2% −17.8% −168.2% — +164.5% −25.2% +51.1% −17.7% +1.9% −89.9% — — — +46.3%
Diluted EPS — +16.7% +17.1% +6.5% +26.7% −18.7% −172.6% — +162.1% −22.7% +58.6% −15.3% +1.6% −90.6% — — — +46.3%
Margins
Net margin 4.4% 4.2% 3.7% 2.9% 3.3% 2.5% −1.9% 2.6% 5.3% 3.8% 5.5% 5.1% 4.1% 0.3% −0.4% 1.3% 2.8% 2.8%
Free-cash-flow margin 6.3% 8.8% −1.8% 2.5% 1.7% 4.6% 6.7% 1.7% 0.3% 5.1% 5.9% 11.4% 7.8% 0.9% 4.1% 7.9% 2.0% 2.3%
Cash flow
Cash from operations 0.1 0.2 0.0 0.2 0.2 0.3 0.4 0.2 0.1 0.5 0.6 0.9 0.8 0.4 0.7 1.1 0.5 0.8
Capital spending 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.2 0.2 0.3 0.2 0.1 0.3 0.4
Free cash flow 0.1 0.2 −0.1 0.1 0.1 0.2 0.3 0.1 0.0 0.3 0.4 0.7 0.6 0.1 0.5 1.0 0.3 0.4
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.1 0.2 −0.1 0.1 0.1 0.2 0.3 0.1 0.0 0.3 0.4 0.7 0.6 0.1 0.5 0.9 0.3 0.4
Balance sheet
Cash 0.1 0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.4 0.4 0.4 0.5 0.4 0.4 0.5
Total debt 0.0 0.4 0.5 0.6 0.8 1.1 1.0 1.0 1.4 1.4 1.4 1.3 2.0 3.2 3.1 2.2 2.3 4.2
Net debt (negative = net cash) −0.1 0.3 0.5 0.6 0.8 1.1 1.0 1.0 1.3 1.4 1.4 0.9 1.7 2.9 2.5 1.8 1.9 3.7
Diluted shares 82m 91m 87m 82m 85m 86m 80m 81m 82m 80m 76m 74m 74m 76m 78m 79m 79m 79m
Returned to shareholders
Buybacks — 0.0 0.1 0.1 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.1 0.0 0.1 0.0 0.0 0.1 0.0
Total returned — 0.0 0.1 0.1 0.0 0.0 0.1 0.0 0.0 0.3 0.0 0.1 0.0 0.1 0.0 0.0 0.1 0.0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · September 30, 2026
What it owns · $14.1bn
Short-term assets $6.2bnLonger-term assets $7.9bn
What it owes, and who funded it · $14.0bn
Short-term liabilities $4.5bnLonger-term liabilities $5.5bnShareholders' equity $4.1bn
  • Short-term assets cover short-term liabilities $6.2bn of assets due within a year against $4.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6.2bn short-term assets against $5.5bn of longer-dated liabilities.
  • More cash than debt $482m of cash against $4.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 98% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 71% to 98% over five years.
  • A year's operating cash flow covers at least 20% of debt $761m of operating cash flow against $4.0bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Mastec Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$77.3M
Diluted share count
+0.0%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Days sales outstanding
54 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in construction & engineering
Last 12 months unless stated MTZ FLR ACM EME J FER Median
Revenue, last 12 months $17.3bn $15.5bn $15.4bn $19.8bn $14.2bn $10.9bn $1.5bn
Revenue growth, last 12 months 25.7% −4.8% −4.2% 22.1% 20.1% 10.0% 21.2%
Revenue growth, 3-year average 13.8% 1.1% 3.3% 17.9% 28.1% — 11.3%
Revenue growth, latest quarter 29.9% 8.8% −14.2% 28.8% 34.5% — 26.9%
Gross margin — −0.8% 5.7% 19.6% 22.1% — 13.0%
Operating margin — −1.4% 4.1% 10.4% 4.6% 34.0% 4.1%
Operating margin, 3-year average — 1.0% 4.9% 9.5% 5.9% — 5.4%
Net margin 2.8% −12.8% 1.9% 7.8% 2.4% 9.2% 1.9%
Cash from operations / revenue 4.4% −1.8% 2.4% 8.1% 5.2% 20.0% 4.4%
Free-cash-flow margin 2.3% −2.1% 1.3% 7.5% 4.5% 14.9% 2.3%
Free-cash-flow margin, 3-year average 4.5% 0.5% 3.6% 7.9% 5.5% — 5.5%
Stock pay / revenue 0.2% 0.2% 0.3% 0.1% 0.5% — 0.7%
Change in share count 0.0% −10.8% −2.2% −2.0% −3.3% −0.8% 0.8%

Median of all 43 companies we cover in construction & engineering. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 construction & engineering companies
Measure Company Peer median Rank
Revenue growth Growth 25.7% 21.2% 14 of 43
Change in growth rate Growth +2.2pp +3.2pp 25 of 43
Net margin Profitability 2.8% 2.1% 18 of 42
Free-cash-flow margin Cash generation 2.3% 2.3% 22 of 43
Stock pay as % of revenue Cash generation 0.2% 0.7% 5 of 33
Long-term debt as % of assets Balance sheet 28.2% 16.2% 25 of 35
Change in share count Balance sheet 0.0% 1.9% 16 of 40
Days sales outstanding Balance sheet 54 days 67 days 5 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Clean Energy and Infrastructure $4.7B 32.7% ▲ 14.8%
Power Delivery $4.2B 29.1% ▲ 15.6%
Communications $3.3B 23.3% ▲ 32.3%
Pipeline Infrastructure $2.1B 14.9% ▲ 0.2%
All Other Segments $0 0.0% —

From Mastec Inc's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$24.8B
Institutions reporting
909
Shares held vs prior quarter
▲ 2.7%
Positions opened / closed
170 / 74

Top buyers and sellers, Q2 2026: 497 institutions bought and 366 sold ; the biggest buyer was Jpmorgan Chase & Co (+1.1M shares) and the biggest seller Millennium Management LLC (−459K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3.2B 7.6M 12.8% ▲ 4.5%
Peconic Partners LLC $1.5B 3.7M 6.2% ▲ 2.8%
Vanguard Capital Management LLC $1.2B 2.8M 4.8% ▲ 1.0%
Vanguard Portfolio Management LLC $1.2B 2.8M 4.7% ▲ 1.5%
State Street Corp $934M 2.2M 3.8% ▲ 20.1%
Hill City Capital, LP $897M 2.2M 3.6% 0.0%
Jpmorgan Chase & Co $567M 1.3M 2.3% ▲ 552.5%
Lone Pine Capital LLC $560M 1.3M 2.3% ▼ 12.1%
Bank Of America Corp $556M 1.3M 2.2% ▲ 0.4%
First Trust Advisors LP $553M 1.3M 2.2% ▼ 5.9%
Geode Capital Management, LLC $530M 1.3M 2.1% ▼ 6.8%
Invesco Ltd. $516M 1.2M 2.1% ▲ 1.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Mastec Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6.3M 5 trades by 4 insiders · 0% under pre-set plans
Net ▼ $6.3M net selling
Insider Date Trade Shares Price Value
Csiszar Ernst N Director June 3, 2026 Sell 6,500 $371.17 $2.4M
Campbell C Robert Director May 4, 2026 Sell 3,000 $417.00 $1.3M
Palomarez Javier Alberto Director March 25, 2026 Sell 950 $325.43 $309,158
Csiszar Ernst N Director March 3, 2026 Sell 6,500 $300.40 $2M
Love Timothy Michael CAO November 3, 2025 Sell 1,929 $206.15 $397,663

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of Mastec Inc shares.

  • Thomas H. Kean, Jr.(R-NJ 7):Purchase, $1,001 - $15,000, traded August 21, 2026, filed September 12, 2026
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 30, 2026
  • February 26, 2026
  • October 30, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Mastec Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Mastec Inc in brief

What does Mastec Inc do?
Mastec Inc is a US-listed company in the construction & engineering industry. Its financial year ends in December.
What is Mastec Inc's stock ticker?
Mastec Inc trades under the ticker MTZ on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Mastec Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Mastec Inc reported revenue of $17.3B, 25.7% higher than a year earlier, according to its SEC filings.
What is Mastec Inc's free cash flow?
Mastec Inc's free-cash-flow margin is 2.3% of revenue over the trailing twelve months, ranking 22 of the 43 construction & engineering companies we cover.
What is Mastec Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Mastec Inc's free cash flow after stock-based pay gives ~$330 per share in the base case, and ~$240–$450 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Mastec Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Peconic Partners LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Mastec Inc buying back stock, and does it pay a dividend?
Mastec Inc spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 0.0% over the year.
What is Mastec Inc's market cap?
On November 2, 2026, Mastec Inc's market capitalisation was about $15.3B, with a price-to-earnings ratio of 31.6 and net debt of $3.7B. Market figures come from third-party market data and may be delayed.
How much debt does Mastec Inc have?
Mastec Inc's debt-to-equity ratio is 98.4%, from its latest balance sheet (71.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Mastec Inc's competitors?
In our Construction & Engineering peer group, the companies closest to Mastec Inc are Fluor Corp, Aecom, Emcor, Jacobs Solutions and Ferrovial N.V. The side-by-side comparison below sets their revenue, margins and growth against Mastec Inc's.
Are insiders buying or selling Mastec Inc stock?
Over the last 12 months, Mastec Inc's directors and officers reported 0 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is Mastec Inc's next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Mastec Inc announces its own schedule.