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) Data as of Mar 31, 2026 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).

Rhea AI MTZ FY2025 2026-04-30

Small project-margin moves and working-capital swings create outsized changes in MasTec’s earnings, cash flow, and balance-sheet flexibility.

From FY2023 to FY2025, net income moved from -$49.9M to $399M, a rebound that looks driven by fixed-cost absorption and a lighter financing burden rather than a dramatic change in project pricing. Free cash flow, however, fell to $286M from $973M while receivables kept rising, showing that higher accounting profit did not convert into cash at the same speed.

This is a thin-gross-margin model: FY2025 gross margin was only 12.5%, so about $143M of gross profit rides on each 1-point margin move at current scale. That helps explain why modest execution changes can materially reshape the bottom line.

The balance-sheet posture is steadier than it was after FY2022: long-term debt fell from $3.05B to $2.18B, bringing leverage back below prior peaks. But cash still sits near $396M, so collections and project timing matter more to liquidity than a large cash reserve would.

Financial Health Signals

Financial Health Score 33/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of MasTec's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

MasTec's revenue surged 16.2% year-over-year to $14.3B, reflecting rapid business expansion. This strong growth earns a score of 63/100.

Leverage

MasTec has a moderate D/E ratio of 0.67. This balance of debt and equity financing earns a leverage score of 54/100.

Liquidity

MasTec's current ratio of 1.32 indicates adequate short-term liquidity, earning a score of 34/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

MasTec has a free cash flow margin of 2.0%, earning a moderate score of 44/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Partial

7/8

MasTec passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$3.8B-2.8%	$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
Cost of Revenue	$3.4B-2.3%	$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
Gross Profit	$477.9M-6.0%	$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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$214.2M+13.2%	$189.3M+4.5%	$181.0M+2.5%	$176.7M+6.4%	$166.1M-9.3%	$183.0M+8.4%	$168.9M+1.1%	$167.1M
Operating Income	$141.8M	N/A	N/A	N/A	$36.2M	N/A	N/A	N/A
Interest Expense	$43.5M-2.7%	$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
Income Tax	$21.8M+3.9%	$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
Net Income	$60.8M-57.4%	$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
EPS (Diluted)	$0.77	N/A	$2.04+87.2%	$1.09+738.5%	$0.13	N/A	$1.21+181.4%	$0.43

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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$10.4B+5.2%	$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
Current Assets	$4.5B+4.3%	$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
Cash & Equivalents	$273.7M-30.9%	$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
Inventory	$117.2M+4.2%	$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
Accounts Receivable	$1.6B+3.5%	$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
Goodwill	$2.4B+4.6%	$2.2B+1.6%	$2.2B+0.1%	$2.2B+0.4%	$2.2B+0.1%	$2.2B+3.2%	$2.1B+0.5%	$2.1B
Total Liabilities	$7.0B+6.4%	$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
Current Liabilities	$3.4B+4.8%	$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
Long-Term Debt	$2.4B+9.2%	$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
Total Equity	$3.3B+1.5%	$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
Retained Earnings	$2.8B+2.2%	$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

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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$98.9M-73.5%	$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
Capital Expenditures	$96.8M+20.6%	$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
Free Cash Flow	$2.1M-99.3%	$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
Investing Cash Flow	-$336.0M-200.2%	-$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
Financing Cash Flow	$114.8M+219.1%	-$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
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$0	$0	$0-100.0%	$50.5M+88.1%	$26.8M	$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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	12.5%-0.4pp	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%
Operating Margin	3.7%	N/A	N/A	N/A	1.3%	N/A	N/A	N/A
Net Margin	1.6%-2.0pp	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%
Return on Equity	1.8%-2.5pp	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%
Return on Assets	0.6%-0.9pp	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%
Current Ratio	1.320.0	1.320.0	1.33+0.1	1.220.0	1.220.0	1.22-0.0	1.24-0.0	1.27
Debt-to-Equity	0.72+0.1	0.67-0.0	0.710.0	0.710.0	0.710.0	0.70-0.1	0.76-0.1	0.87
FCF Margin	0.1%-7.4pp	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%

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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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.