MTZ
MASTEC INC
Materials • CIK: 0000015615
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Market Cap
$16.59B
P/E (TTM)
50.0x
Rev Growth (TTM)
+13.0%
Net Margin (TTM)
2.4%
FCF Yield (TTM)
2.5%
FCF Margin (TTM)
3.0%
Cash Flow Health
Free Cash Flow7/8 positive
TTM$417M
Q3 '25
$20M+135%
Q2 '25
$-58M-287%
FCF Margin
TTM3.0%
Q3 '250.5%+131%
Sector: 4.7%Below Avg
OCF Margin4.7%
OCF/NI1.95x
CapEx Coverage2.8x
FCF Yield2.5%
FCF Growth (2Y)+37%
Cash Conversion Cycle
7 days
DSO: 38+DIO: 3−DPO: 34
Capital Allocation & Returns
Accumulating Cash
Total Shareholder YieldTTM
TTM0.5%
Div Yield0.0%
+Buyback (TTM)0.5%
Limited capital returns
Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
Free Cash Flow (TTM)$416.5M
Stock Repurchases (TTM)$77.3M
Capital Return / FCF18.6%
Est. Dividends Paid (TTM)$0
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
14.6%
Volatile
-0.9% YoY-8269.9%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
6.0%
8Q: 38.2%
Asset Turnover
1.52x
8Q: 1.44x
Leverage (1+D/E)
1.71x
D/E: 0.71x
DuPont: 15.5% ≈ 14.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
8.61x
8Q:8.17x
+180.2%
Invested Cap Turn
2.46x
8Q:2.24x
+66.0%
CapEx Intensity
4.1%
8Q:3.3%
CapEx/Depreciation
0.53x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $13.8B | $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↓18.1% | $3.3B |
Operating Income | $1.0B | $356.7M↑37.8% | $258.9M↑78.6% | $144.9M↓42.8% | $253.5M↓92.2% | $3.3B↑9.8% | $3.0B↑10.2% | $2.7B↓18.1% | $3.3B |
Net Income | $331.1M | $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↓5568.8% | $753.0K |
Operating Cash Flow | $644.7M | $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↓78.0% | $490.7M |
Free Cash Flow | $416.5M | $20.3M↑134.8% | $-58.2M↓287.2% | $31.1M↓92.7% | $423.3M↑80.8% | $234.1M↑0.5% | $232.9M↑182.9% | $82.3M↓81.9% | $455.1M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
50.0x
Volatile
8Q: 148.4x-405210%
Valuation Lenses
Earnings
50.0x
vs – sector
Cash Flow
39.5x
EV/FCF vs –
Growth-Adj
0.2xPEG
Undervalued for growth
Quality-Adj
3.4P/E per %ROIC
ROIC: 14.6%
Shareholder Returns
Dividend
–
Buyback
0.5%
Total Yield
0.5%
Market Cap$16.59B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
56/100
Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
11.3%
8Q:–
Return on Invested Capital (ROIC)Top 25%
14.6%
8Q:–
-8269.9%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 6.0%
Asset Turnover: 1.52x
Earnings Quality
Cash Conversion
1.95x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin12.5%
Capital Efficiency
Invested Capital Turnover2.46x
Working Capital
Cash Conversion Cycle7 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
73/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
13.0%
OpInc Growth YoY
-89.0%
EPS Growth YoY
275.0%
FCF 3Y CAGR
37.1%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
12.5%
Operating
7.4%
Below Avg in sector
Net
2.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+0.6 pts
FCF: 3.0% | Net: 2.4%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $1.97B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.71x
Balance sheet risk & solvency analysis