What is MasTec's earnings per share (EPS)?

MasTec (MTZ) reported diluted earnings per share of $5.07 for fiscal year 2025. This represents a 146.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

MasTec Financials

MTZ

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows MasTec (MTZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 48/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

MasTec's revenue surged 16.2% year-over-year to $14.3B, reflecting rapid business expansion. This strong growth earns a score of 60/100.

Leverage

MasTec carries a low D/E ratio of 0.67, meaning only $0.67 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

MasTec's current ratio of 1.32 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 22/100, which could limit financial flexibility.

Cash Flow

MasTec has a free cash flow margin of 2.0%, earning a moderate score of 30/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

MasTec's ROE of 12.2% shows moderate profitability relative to equity, earning a score of 38/100. This is up from 5.6% the prior year.

Piotroski F-Score Strong

7/9

MasTec passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.37x

For every $1 of reported earnings, MasTec generates $1.37 in operating cash flow ($545.7M OCF vs $399.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$14.3B

YoY+16.2%

5Y CAGR+17.7%

10Y CAGR+13.0%

MasTec generated $14.3B in revenue in fiscal year 2025. This represents an increase of 16.2% from the prior year.

EBITDA

N/A

Net Income

$399.0M

YoY+145.1%

5Y CAGR+4.3%

MasTec reported $399.0M in net income in fiscal year 2025. This represents an increase of 145.1% from the prior year.

EPS (Diluted)

$5.07

YoY+146.1%

5Y CAGR+3.0%

MasTec earned $5.07 per diluted share (EPS) in fiscal year 2025. This represents an increase of 146.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$285.7M

YoY-70.6%

5Y CAGR-17.0%

10Y CAGR+0.1%

MasTec generated $285.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 70.6% from the prior year.

Cash & Debt

$396.0M

YoY-1.0%

5Y CAGR-1.3%

10Y CAGR+54.9%

MasTec held $396.0M in cash against $2.2B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

12.5%

YoY-0.7pp

5Y CAGR-4.1pp

MasTec's gross margin was 12.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.7 percentage points from the prior year.

Operating Margin

N/A

Net Margin

2.8%

YoY+1.5pp

5Y CAGR-2.3pp

10Y CAGR+4.7pp

MasTec's net profit margin was 2.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.5 percentage points from the prior year.

Return on Equity

12.2%

YoY+6.7pp

5Y CAGR-3.9pp

10Y CAGR+20.7pp

MasTec's ROE was 12.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$77.3M

5Y CAGR-8.4%

10Y CAGR-2.5%

MasTec spent $77.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$260.0M

YoY+74.7%

5Y CAGR+4.0%

10Y CAGR+11.9%

MasTec invested $260.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 74.7% from the prior year.

MTZ Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$14.3B+16.2%	$12.3B+2.6%	$12.0B+22.7%	$9.8B+23.0%	$8.0B+25.8%	$6.3B
Cost of Revenue	$12.5B+17.1%	$10.7B+0.6%	$10.6B+23.6%	$8.6B+26.2%	$6.8B+29.1%	$5.3B
Gross Profit	$1.8B+10.2%	$1.6B+17.7%	$1.4B+16.0%	$1.2B+4.0%	$1.1B+9.1%	$1.1B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$713.0M+4.2%	$684.5M-2.1%	$698.9M+24.9%	$559.4M+82.2%	$307.0M+1.3%	$303.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$173.0M-10.5%	$193.3M-17.6%	$234.4M+108.8%	$112.3M	N/A	N/A
Income Tax	$93.4M+81.2%	$51.5M+245.6%	-$35.4M-486.1%	$9.2M-90.8%	$99.3M-3.0%	$102.5M
Net Income	$399.0M+145.1%	$162.8M+425.9%	-$49.9M-249.8%	$33.4M-89.9%	$328.8M+1.9%	$322.8M
EPS (Diluted)	$5.07+146.1%	$2.06+421.9%	$-0.64-252.4%	$0.42-90.6%	$4.45+1.6%	$4.38

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$3.9B-0.7%	$4.0B+11.9%	$3.5B+24.5%	$2.8B-16.3%	$3.4B+4.6%	$3.3B+9.8%	$3.0B+10.2%	$2.7B
Cost of Revenue	$3.4B+0.1%	$3.4B+10.3%	$3.1B+22.6%	$2.5B-14.5%	$3.0B+6.4%	$2.8B+9.8%	$2.5B+6.8%	$2.4B
Gross Profit	$508.3M-5.5%	$537.7M+23.5%	$435.5M+40.0%	$311.1M-28.7%	$436.5M-5.8%	$463.2M+10.1%	$420.6M+36.9%	$307.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$189.1M+4.5%	$181.0M+2.5%	$176.7M+6.3%	$166.2M-9.2%	$183.0M+8.4%	$168.9M+1.1%	$167.1M+0.9%	$165.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$44.6M-1.8%	$45.4M+3.6%	$43.9M+12.3%	$39.0M-10.4%	$43.6M-7.4%	$47.0M-7.0%	$50.6M-2.9%	$52.1M
Income Tax	$21.0M-53.5%	$45.1M+47.2%	$30.7M+1006.3%	-$3.4M-128.8%	$11.7M-62.8%	$31.5M+63.1%	$19.3M+274.6%	-$11.1M
Net Income	$142.7M-11.2%	$160.7M+87.3%	$85.8M+766.1%	$9.9M-86.8%	$74.7M-21.5%	$95.2M+180.2%	$34.0M+182.5%	-$41.2M
EPS (Diluted)	N/A	$2.04+87.2%	$1.09+738.5%	$0.13	N/A	$1.21+181.4%	$0.43+181.1%	$-0.53

MTZ Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.9B+10.6%	$9.0B-4.2%	$9.4B+0.9%	$9.3B+30.5%	$7.1B+36.2%	$5.2B
Current Assets	$4.3B+18.5%	$3.7B-8.1%	$4.0B+3.0%	$3.9B+34.3%	$2.9B+21.8%	$2.4B
Cash & Equivalents	$396.0M-1.0%	$399.9M-24.5%	$529.6M+42.9%	$370.6M+2.7%	$360.7M-14.7%	$423.1M
Inventory	$112.5M+4.8%	$107.3M-0.7%	$108.1M-8.3%	$118.0M+27.4%	$92.6M+3.3%	$89.6M
Accounts Receivable	$1.5B+11.5%	$1.4B+0.8%	$1.4B-2.1%	$1.4B+37.3%	$1.0B+29.9%	$784.5M
Goodwill	$2.2B+2.1%	$2.2B+3.6%	$2.1B+4.0%	$2.0B+34.5%	$1.5B+22.3%	$1.2B
Total Liabilities	$6.6B+10.0%	$6.0B-10.0%	$6.7B+1.5%	$6.6B+43.1%	$4.6B+42.1%	$3.2B
Current Liabilities	$3.3B+9.0%	$3.0B+5.7%	$2.8B+13.7%	$2.5B+39.9%	$1.8B+26.1%	$1.4B
Long-Term Debt	$2.2B+6.8%	$2.0B-29.4%	$2.9B-5.4%	$3.1B+62.7%	$1.9B+62.1%	$1.2B
Total Equity	$3.3B+11.9%	$2.9B+7.6%	$2.7B-1.1%	$2.7B+7.8%	$2.5B+26.9%	$2.0B
Retained Earnings	$2.7B+17.3%	$2.3B+7.6%	$2.1B-2.3%	$2.2B+1.5%	$2.2B+17.9%	$1.8B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$9.9B+2.4%	$9.7B+6.1%	$9.1B+3.0%	$8.9B-1.3%	$9.0B+2.4%	$8.8B+1.0%	$8.7B-0.8%	$8.7B
Current Assets	$4.3B+0.5%	$4.3B+14.9%	$3.7B+5.7%	$3.5B-2.9%	$3.7B+2.2%	$3.6B+2.8%	$3.5B+0.9%	$3.4B
Cash & Equivalents	$396.0M+71.1%	$231.4M+21.1%	$191.1M-44.7%	$345.7M-13.5%	$399.9M+120.7%	$181.2M-39.1%	$297.6M+19.4%	$249.3M
Inventory	$112.5M+0.5%	$111.9M+3.1%	$108.5M-5.2%	$114.5M+6.7%	$107.3M+6.1%	$101.2M-6.2%	$107.9M-4.0%	$112.3M
Accounts Receivable	$1.5B-9.0%	$1.7B+18.8%	$1.4B+5.9%	$1.3B-2.6%	$1.4B-5.0%	$1.5B+8.3%	$1.3B+2.4%	$1.3B
Goodwill	$2.2B+1.6%	$2.2B+0.1%	$2.2B+0.4%	$2.2B+0.1%	$2.2B+3.2%	$2.1B+0.5%	$2.1B0.0%	$2.1B
Total Liabilities	$6.6B+1.1%	$6.5B+6.5%	$6.1B+3.6%	$5.9B-1.4%	$6.0B+0.9%	$5.9B-0.2%	$5.9B-1.8%	$6.1B
Current Liabilities	$3.3B+1.1%	$3.2B+5.5%	$3.1B+5.4%	$2.9B-3.0%	$3.0B+3.9%	$2.9B+5.1%	$2.7B+4.3%	$2.6B
Long-Term Debt	$2.2B-1.1%	$2.2B+4.9%	$2.1B+2.7%	$2.0B+0.2%	$2.0B-4.7%	$2.1B-9.4%	$2.4B-7.0%	$2.5B
Total Equity	$3.3B+4.7%	$3.1B+5.6%	$2.9B+2.2%	$2.9B-0.9%	$2.9B+3.6%	$2.8B+3.5%	$2.7B+1.5%	$2.7B
Retained Earnings	$2.7B+5.6%	$2.6B+6.7%	$2.4B+3.7%	$2.3B+0.4%	$2.3B+3.3%	$2.2B+4.5%	$2.1B+1.6%	$2.1B

MTZ Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$545.7M-51.3%	$1.1B+63.2%	$687.3M+95.1%	$352.3M-55.6%	$793.1M-15.4%	$937.3M
Capital Expenditures	$260.0M+74.7%	$148.9M-22.8%	$192.9M-26.7%	$263.4M+54.9%	$170.1M-20.4%	$213.7M
Free Cash Flow	$285.7M-70.6%	$972.8M+96.8%	$494.3M+455.8%	$88.9M-85.7%	$623.0M-13.9%	$723.5M
Investing Cash Flow	-$267.2M-69.7%	-$157.5M+11.6%	-$178.1M+78.3%	-$821.2M+39.5%	-$1.4B-526.6%	-$216.6M
Financing Cash Flow	-$283.4M+74.0%	-$1.1B-210.6%	-$351.0M-173.0%	$480.9M-4.2%	$501.9M+235.7%	-$369.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$77.3M	$0	$0-100.0%	$81.3M	$0-100.0%	$120.2M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$372.7M+319.0%	$89.0M+1475.7%	$5.6M-92.8%	$78.4M-83.4%	$471.7M+69.8%	$277.7M+5.0%	$264.4M+145.4%	$107.8M
Capital Expenditures	$80.2M+16.8%	$68.7M+7.7%	$63.8M+35.0%	$47.3M-2.2%	$48.3M+10.8%	$43.6M+38.4%	$31.5M+24.0%	$25.4M
Free Cash Flow	$292.5M+1343.5%	$20.3M+134.8%	-$58.2M-287.0%	$31.1M-92.7%	$423.4M+80.8%	$234.1M+0.5%	$232.9M+182.9%	$82.3M
Investing Cash Flow	-$111.9M-63.0%	-$68.7M-32.7%	-$51.7M-48.3%	-$34.9M+54.5%	-$76.7M-36.2%	-$56.3M-392.4%	-$11.4M+12.2%	-$13.0M
Financing Cash Flow	-$96.4M-576.4%	$20.2M+118.5%	-$109.6M-12.2%	-$97.7M+43.8%	-$173.7M+48.5%	-$337.4M-65.2%	-$204.3M+45.5%	-$374.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0-100.0%	$50.5M+88.1%	$26.8M	$0	$0	$0	$0

MTZ Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	12.5%-0.7pp	13.2%+1.7pp	11.5%-0.7pp	12.2%-2.2pp	14.4%-2.2pp	16.6%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	2.8%+1.5pp	1.3%+1.7pp	-0.4%-0.8pp	0.3%-3.8pp	4.1%-1.0pp	5.1%
Return on Equity	12.2%+6.7pp	5.6%+7.4pp	-1.8%-3.1pp	1.2%-11.7pp	13.0%-3.2pp	16.1%
Return on Assets	4.0%+2.2pp	1.8%+2.3pp	-0.5%-0.9pp	0.4%-4.3pp	4.6%-1.6pp	6.2%
Current Ratio	1.32+0.1	1.22-0.2	1.40-0.1	1.55-0.1	1.61-0.1	1.67
Debt-to-Equity	0.67-0.0	0.70-0.4	1.07-0.0	1.11+0.4	0.74+0.2	0.58
FCF Margin	2.0%-5.9pp	7.9%+3.8pp	4.1%+3.2pp	0.9%-6.9pp	7.8%-3.6pp	11.5%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	12.9%-0.7pp	13.6%+1.3pp	12.3%+1.4pp	10.9%-1.9pp	12.8%-1.4pp	14.2%+0.0pp	14.2%+2.8pp	11.4%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	3.6%-0.4pp	4.0%+1.6pp	2.4%+2.1pp	0.4%-1.8pp	2.2%-0.7pp	2.9%+1.8pp	1.1%+2.7pp	-1.5%
Return on Equity	4.4%-0.8pp	5.2%+2.3pp	2.9%+2.6pp	0.3%-2.2pp	2.6%-0.8pp	3.4%+2.1pp	1.3%+2.8pp	-1.5%
Return on Assets	1.4%-0.2pp	1.7%+0.7pp	0.9%+0.8pp	0.1%-0.7pp	0.8%-0.3pp	1.1%+0.7pp	0.4%+0.9pp	-0.5%
Current Ratio	1.320.0	1.33+0.1	1.220.0	1.220.0	1.22-0.0	1.24-0.0	1.27-0.0	1.31
Debt-to-Equity	0.67-0.0	0.710.0	0.710.0	0.710.0	0.70-0.1	0.76-0.1	0.87-0.1	0.95
FCF Margin	7.4%+6.9pp	0.5%+2.2pp	-1.6%-2.7pp	1.1%-11.3pp	12.4%+5.2pp	7.2%-0.7pp	7.9%+4.8pp	3.1%

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Frequently Asked Questions

What is MasTec's annual revenue?

MasTec (MTZ) reported $14.3B in total revenue for fiscal year 2025. This represents a 16.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is MasTec's revenue growing?

MasTec (MTZ) revenue grew by 16.2% year-over-year, from $12.3B to $14.3B in fiscal year 2025.

Is MasTec profitable?

Yes, MasTec (MTZ) reported a net income of $399.0M in fiscal year 2025, with a net profit margin of 2.8%.

How much debt does MasTec have?

As of fiscal year 2025, MasTec (MTZ) had $396.0M in cash and equivalents against $2.2B in long-term debt.

What is MasTec's gross margin?

MasTec (MTZ) had a gross margin of 12.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is MasTec's net profit margin?

MasTec (MTZ) had a net profit margin of 2.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is MasTec's return on equity (ROE)?

MasTec (MTZ) has a return on equity of 12.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is MasTec's free cash flow?

MasTec (MTZ) generated $285.7M in free cash flow during fiscal year 2025. This represents a -70.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is MasTec's operating cash flow?

MasTec (MTZ) generated $545.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are MasTec's total assets?

MasTec (MTZ) had $9.9B in total assets as of fiscal year 2025, including both current and long-term assets.

What are MasTec's capital expenditures?

MasTec (MTZ) invested $260.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does MasTec buy back shares?

Yes, MasTec (MTZ) spent $77.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is MasTec's current ratio?

MasTec (MTZ) had a current ratio of 1.32 as of fiscal year 2025, which is considered adequate.

What is MasTec's debt-to-equity ratio?

MasTec (MTZ) had a debt-to-equity ratio of 0.67 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is MasTec's return on assets (ROA)?

MasTec (MTZ) had a return on assets of 4.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is MasTec's Piotroski F-Score?

MasTec (MTZ) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are MasTec's earnings high quality?

MasTec (MTZ) has an earnings quality ratio of 1.37x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is MasTec?

MasTec (MTZ) scores 48 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.