Feed / MTZ

MasTec, Inc.

MTZ

Industrials · 240.04 -0.3% today

Isolated · not yet confirmedMarket checked 11 Sept, 10:35 GMT-4

Market read

MasTec, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.

What changed
  • Revenue increased 34.5% versus the comparable filing period.
Company-0.3% todayVolume comparison unavailable
Market group0 of 1 activeEngineering & Construction · unavailable
Disclosed network0 of 5 confirmingNo filing-linked name is confirming now
What would change this read
  • MTZ's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if MTZ's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Engineering & Construction

The latest filing evidence is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.

Evidence that supports
  • Revenue increased 34.5% versus the comparable filing period.
  • Operating margin improved 2.4 percentage points.
  • Net income increased 514.4% versus the comparable filing period.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • MTZ's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements128
Verified relationships5
Evidence supporting the case
  • Latest annual revenue changed +16.2% year over year.
  • Net margin changed +1.5 percentage points in the latest annual period.
  • Demand and volume has repeated favorable evidence across 4 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 57% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 33% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

232.07
6m-23.6%12m+32.6%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$8.0B+25.8%$4.45+0.3%
2022-12-31$9.8B+23.0%$0.42+3.0%
2023-12-31$12.0B+22.7%$-0.64+1.8%
2024-12-31$12.3B+2.6%$2.06+1.7%
2025-12-31$14.3B+16.2%$5.07-0.2%

What management says matters

Persistent and emerging business drivers

Demand and volumepositive · 4 filings
Working capital needs are generally higher during the summer and fall months due to increased demand for our services when favorable weather conditions exist in many of the regions in which we operate.
10-Q · Apr 30, 2026
Legal and regulatory exposuremixed · 4 filings
Other than certain ordinary course matters subject to litigation, we do not anticipate material collection issues related to our outstanding accounts receivable balances, nor do we believe that we have material amounts due from customers experiencing financia…
10-Q · Apr 30, 2026
Credit and interest ratesmixed · 3 filings
The decrease in interest expense, net, resulted primarily from lower average balances and, to a lesser extent, lower average interest rates on our variable rate debt, which accounted for a reduction of approximately $35 million, offset, in part by an increase…
10-K · Feb 26, 2026
Data center and AI demandpositive · 1 filings
We believe there will be significant fiber network expansion resulting from the combination of data center investments, carrier spend, and government programs that are expected to incentivize private investment in telecommunications infrastructure.
10-K · Feb 26, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.3× · EV/sales 1.2×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

240.04-0.3% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 10:35 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for MTZ. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-04-30 against the comparable filing from 2025-05-01.

constructive
OperationsconstructiveEvidence score +4
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 34.5% versus the comparable filing period.
  • Operating margin improved 2.4 percentage points.
  • Net income increased 514.4% versus the comparable filing period.

What weakened

No thresholded deterioration was identified.

Filing receipts

Organic general and administrative expenses also increased by approximately $42 million, or 25%, as compared with the same period in 2025, primarily due to an increase in compensation expense, including stock-based compensation and insurance to support business growth, a $10 million increase from changes in the fair value of contingent consideration payable to former owners of an acquired business, approximately $1 million of an increase from changes to estimated Earn-out accruals, and a decrease in net gains on asset sales.

The increase was due primarily to (i) an increase in net income as compared with the prior period; and (ii) changes in working capital compared with the prior period, including from the positive effect of timing-related changes in accounts payable and accrued expenses, offset, in part, by the unfavorable effect of timing-related changes in accounts receivable, net, primarily driven by higher levels of revenue and an increase in DSO.

As a percentage of revenue, EBITDA increased by approximately 50 basis points, or $6 million, due to a combination of project mix, improved productivity and efficiencies, primarily from certain renewable and general building project work.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind MTZ

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

BLKBlackRock, Inc.partnerFeb 26, 2026

One such example is the AT&T and BlackRock Alternatives private equity fiber partnership, Gigapower LLC 6 (“Gigapower”), which will operate a commercial fiber-optic platform in the United States.

TAT&T Inc.partnerFeb 26, 2026

One such example is the AT&T and BlackRock Alternatives private equity fiber partnership, Gigapower LLC 6 (“Gigapower”), which will operate a commercial fiber-optic platform in the United States.

Depended on by

CTRICenturi Holdings, Inc.competitorFeb 26, 2026

These competitors include Quanta Services, Inc., MYR Group, Mastec, Inc., Primoris Services Corporation and Everus Construction Group, Inc.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

MTZ is currently a Leader in the organic co-movement group Engineering & Construction. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for MTZ; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.