MasTec, Inc.

MTZUS

MasTec, Inc. is a leading infrastructure construction firm that delivers a comprehensive suite of services, encompassing engineering, construction, installation, maintenance, and enhancement. The company primarily serves the communications, energy, utility, and broader infrastructure sectors throughout the United States and Canada. Its operations are structured across distinct segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. MasTec's construction activities involve building intricate underground and overhead distribution systems, essential for wireless and fiber-optic communication networks, as well as electrical grids. The company also develops clean energy infrastructure, including renewable energy facilities; pipelines for natural gas and other products, alongside extensive electrical and gas transmission and distribution systems. Furthermore, it specializes in heavy industrial plants, compressor and pumping stations, water and wastewater treatment facilities, and critical water and sewer pipelines, among other civil engineering projects. Additionally, the company manages the installation of power generation assets, buried and aerial fiber optic cabling, and smart home automation and energy management solutions. Beyond initial construction, MasTec offers comprehensive maintenance and upgrade solutions. These services range from routine upkeep of client networks and facilities (such as communications, power generation, pipeline, and electrical grids) to emergency restoration following natural disasters or accidents, and planned overhauls or system replacements. Its diverse clientele encompasses public and private energy providers, pipeline operators, various wireless and wireline/fiber service providers, broadband companies, install-to-the-home specialists, and governmental entities. Established in 1929, MasTec, Inc. maintains its headquarters in Coral Gables, Florida.

Founded1929IPO year1973As of2026-08-04
Market Cap
$21.94B
Enterprise Value
$24.86B
EV / LTM Revenue
1.7x
EV / NTM Revenue
1.2x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
1.2x
Gross Profit
10.5x
EBITDA
15.1x
Classification
Sector
Industrial, Aerospace & Defense
Sub-sector
Building Products & Construction Equipment
Listing
MTZ
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY23%23%3%16%28%20%
Revenue$7.95B$9.78B$12.00B$12.30B$14.30B$18.37B$22.09B
Gross Profit$814M$847M$944M$1.35B$1.68B
Gross Profit Margin10.2%8.7%7.9%11.0%11.8%
EBITDA$899M$663M$753M$951M$1.12B$1.47B$1.77B
EBITDA Margin11.3%6.8%6.3%7.7%7.8%8.0%8.0%
EBIT$531M$383M$309M$436M$757M$638M$767M
Net Income$329M$33M($50M)$163M$399M$758M$991M
Free Cash Flow$623M$89M$494M$973M$286M
FCF Margin7.8%0.9%4.1%7.9%2.0%
Short-Term Debt$138M$172M$177M$186M$154M
Long-Term Debt$1.88B$3.05B$2.89B$2.04B$1.96B
Cash & Cash Equivalents$361M$371M$530M$400M$396M
Net Debt$1.65B$2.85B$2.54B$1.82B$1.72B
Net Debt / EBITDA1.8x4.3x3.4x1.9x1.5x
Rule of 4023.9%26.8%10.5%18.2%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.