MasTec is rated Buy as robust infrastructure demand and the Superior acquisition drive record revenues, profitability, and backlog. I see the Superior acquisition as a catalyst for cross-selling and margin expansion, especially in power delivery and critical facility construction. Despite sector-leading growth, MTZ trades at a significant valuation discount, with FWD PEG at 0.58 and FWD EV/Sales at 1.09x.
MTZ's record backlog and raised 2026 guidance signal strong growth, but negative free cash flow and cash conversion challenges remain key concerns.
Shares of MasTec, Inc. MTZ have lost 34.3% over the past six months compared with the Zacks Building Products - Heavy Construction industry's decline of 19.3%. The stock has also lagged the Zacks Construction sector and the S&P 500 Index, as evidenced by the chart below.
| Construction & Engineering Industry | Industrials Sector | Jose Ramon Mas CEO | XMIL Exchange | US5763231090 ISIN |
| US Country | 37,000 Employees | - Last Dividend | 20 Jun 2000 Last Split | 26 Mar 1990 IPO Date |
MasTec, Inc. is a prominent infrastructure construction company offering a wide range of engineering, building, installation, maintenance, and upgrade services. Catering primarily to the United States and Canada, the company operates through five key segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other. Founded in 1929 and based in Coral Gables, Florida, MasTec has built a reputation for developing infrastructure across various sectors including wireless, communications, energy, and utility infrastructure. The company prides itself on its comprehensive capabilities in building and maintaining the critical infrastructure necessary for the modern world—ranging from communications networks to renewable energy projects and industrial facilities.
MasTec, Inc. offers a diverse portfolio of products and services across several key areas of infrastructure, detailed as follows:
Construction and maintenance services for building the backbone of communication systems, including cellular towers and fibre-optic cables. This includes the entire spectrum of infrastructure needs from initial construction to ongoing maintenance and upgrades essential for supporting broadband and telecommunications services.
Development of infrastructure for renewable energy sources like wind and solar power generation. MasTec is involved in the engineering and construction required to harness and distribute clean energy, contributing to sustainable development goals.
Expertise in the construction and maintenance of pipeline systems for natural gas, water, and carbon capture sequestration. This service ensures the safe and efficient transport of vital resources and products across extensive geographic areas.
Provision of electrical and gas transmission and distribution systems. These services encompass the entire energy supply chain from generation through transmission to distribution, ensuring reliable access to energy for a wide range of customers.
Construction services for large-scale industrial and civil projects including roads, bridges, and rail systems. MasTec supports the foundational infrastructure necessary for economic growth and connectivity.
Direct services for households including installation of fiber optic and other cables. This area ensures that end users are effectively connected to the broader communication and utility networks.
Comprehensive maintenance services for a range of infrastructure, including communications, power, and civil projects. MasTec also provides essential service restoration following natural disasters, accidents, and routine upgrades to existing infrastructure.