MASTEC INC MTZ
We are a leading North American infrastructure engineering and construction company focused primarily on engineering, building, installation, maintenance and upgrade of communications, energy and utility and other infrastructure, such as: wireless, wireline/fiber; power delivery infrastructure, including transmission, distribution, grid hardening and modernization, environmental planning and compliance; power generation infrastructure, primarily from clean energy and renewable sources; pipeline infrastructure, including for natural gas, water and carbon capture sequestration pipelines and pipeline integrity services; heavy civil and industrial infrastructure, including roads, bridges and rail; and environmental remediation services. Our customers are primarily in these industries. Including our predecessor companies, we have been in business for over 95 years. As of December 31, 2025, we had approximately 36,000 employees and 810 locations. We offer our services under the MasTec® and other service marks and we are ranked among the top five contractors within Engineering News-Record's Top 400 Contractors.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.30B | $12.30B | $12.00B | $9.78B | $7.95B | $6.32B | $7.18B | $6.91B | $6.61B | $5.13B |
| SG&A | $713.0M | $684.5M | $698.9M | $559.4M | $307.0M | $303.0M | $286.4M | $287.3M | $275.1M | $261.4M |
| Pre-tax income | $515.4M | $251.0M | -$82.7M | $43.1M | $430.1M | $425.2M | $510.9M | $365.3M | $371.8M | $225.8M |
| Income tax | $93.4M | $51.5M | $35.4M | $9.2M | $99.3M | $102.5M | $116.8M | $106.1M | $22.9M | $91.8M |
| Net income | $422.0M | $199.4M | -$47.3M | $33.9M | $330.7M | $322.8M | $392.3M | $259.7M | $347.2M | $131.3M |
| EPS, basic | 5.12 | 2.09 | -0.64 | 0.45 | 4.54 | 4.43 | 5.22 | 3.30 | 4.29 | 1.63 |
| EPS, diluted | 5.07 | 2.06 | -0.64 | 0.42 | 4.45 | 4.38 | 5.17 | 3.26 | 4.22 | 1.61 |
| Shares, diluted (wtd. avg.) | $78.7M | $78.9M | $77.5M | $76.2M | $73.9M | $73.7M | $75.8M | $79.8M | $82.3M | $81.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $396.0M | $399.9M | $529.6M | $370.6M | $360.7M | $423.1M | $71.4M | $27.4M | $40.3M | $38.8M |
| Receivables | $1.54B | $1.38B | $1.37B | $1.40B | $1.02B | $784.5M | $850.3M | $671.3M | $1.60B | $1.16B |
| Inventory | $112.5M | $107.3M | $108.1M | $118.0M | $92.6M | $89.6M | $100.1M | $113.7M | $77.0M | $111.0M |
| Total current assets | $4.33B | $3.65B | $3.97B | $3.86B | $2.87B | $2.36B | $2.17B | $2.17B | $1.85B | $1.40B |
| Property, plant and equipment | — | — | — | — | — | $982.3M | $905.8M | $747.8M | $706.5M | $549.1M |
| Goodwill | $2.25B | $2.20B | $2.13B | $2.04B | $1.52B | $1.24B | $1.22B | $1.10B | $1.14B | $995.9M |
| Other intangibles | $656.2M | $727.4M | $784.3M | $946.3M | $670.3M | $184.0M | $211.5M | $169.4M | $191.1M | $179.7M |
| Total assets | $9.92B | $8.98B | $9.37B | $9.29B | $7.12B | $5.23B | $5.00B | $4.44B | $4.07B | $3.18B |
| Accounts payable | $1.28B | $1.11B | $1.24B | $1.11B | $663.1M | $571.3M | $535.0M | $669.7M | $378.0M | $363.7M |
| Total current liabilities | $3.27B | $3.00B | $2.84B | $2.50B | $1.78B | $1.42B | $1.22B | $1.28B | $963.8M | $840.0M |
| Total liabilities | $6.59B | $5.99B | $6.65B | $6.55B | $4.58B | $3.22B | $3.21B | $3.05B | $2.63B | $2.08B |
| Retained earnings | $2.71B | $2.31B | $2.15B | $2.20B | $2.16B | $1.83B | $1.51B | $1.12B | $857.2M | $509.9M |
| Total equity | $3.26B | $2.91B | $2.72B | $2.74B | $2.54B | $2.01B | $1.79B | $1.39B | $1.43B | $1.10B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $545.7M | $1.12B | $687.3M | $352.3M | $793.1M | $937.3M | $550.3M | $530.0M | $144.1M | $205.6M |
| Depreciation and amortisation | $427.1M | $506.6M | $603.2M | $507.1M | $422.8M | $297.8M | $235.5M | $212.9M | $188.0M | $164.9M |
| Stock-based compensation | $34.0M | $32.7M | $33.3M | $27.4M | $24.8M | $21.9M | $16.4M | $13.5M | $15.7M | $15.1M |
| Capital expenditure | $260.0M | $148.9M | $192.9M | $263.4M | $170.1M | $213.7M | $126.5M | $180.4M | $123.4M | $117.1M |
| Investing cash flow | -$267.2M | -$157.5M | -$178.1M | -$821.2M | -$1.36B | -$216.6M | -$261.8M | -$181.8M | -$272.7M | -$141.0M |
| Financing cash flow | -$283.4M | -$1.09B | -$351.0M | $480.9M | $501.9M | -$369.9M | -$244.6M | -$361.1M | $130.3M | -$29.5M |
| Buybacks | $77.3M | $0 | $0 | $81.3M | $0 | $120.2M | $5.7M | $313.9M | $1.6M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-014022.
Others in SIC 1623
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| DY | DYCOM INDUSTRIES INC | $9.06B | 31.4x | 17.9% |
| MYRG | MYR GROUP INC. | $4.46B | 38.1x | 8.8% |
| PRIM | Primoris Services Corp | $4.01B | 14.8x | 19.0% |
| PLPC | PREFORMED LINE PRODUCTS CO | $1.95B | 55.8x | 12.7% |
| ESOA | Energy Services of America CORP | $220.0M | 589.5x | 16.8% |
| SKK | SKK Holdings Ltd | — | — | 16.6% |