MasTec, Inc. (MTZ) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-62.4%

$72.84

vs $193.74 price

Levered DCF

$81.35

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.78

Grey zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	42.46×	65.14×	-118.31×	189.62×	20.33×	15.39×	12.29×	12.29×
P/B	5.19×	3.65×	2.17×	2.34×	2.63×	2.47×	2.69×	2.29×
P/S	1.18×	0.86×	0.49×	0.65×	0.84×	0.79×	0.67×	0.46×
EV / EBITDA	17.33×	13.52×	11.71×	14.4×	9.51×	7.71×	7.8×	6.69×
Gross margin	9.6%	13.2%	6.6%	12.2%	14.4%	16.6%	12.2%	14.0%
Operating margin	4.6%	3.5%	1.3%	1.3%	5.2%	0.0%	8.0%	7.2%
Net margin	2.8%	1.3%	-0.4%	0.3%	4.1%	5.1%	5.5%	3.8%
Current ratio	1.32×	1.22×	1.4×	1.55×	1.61×	1.67×	1.78×	1.69×
Debt / equity	0.86×	0.9×	1.29×	1.28×	0.9×	0.74×	0.93×	1.01×
Interest coverage	3.77×	2.26×	0.65×	1.11×	7.79×	0×	7.5×	6×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.2%	5.6%	-1.8%	1.2%	12.9%	16.1%	21.9%	18.7%
Return on invested capital	7.4%	5.5%	1.3%	1.4%	5.7%	0.0%	11.2%	10.9%
Return on assets	3.9%	1.8%	-0.5%	0.4%	4.6%	6.2%	7.9%	5.8%
Free cash flow yield	1.7%	9.2%	8.4%	1.4%	9.3%	14.6%	8.8%	11.0%
Earnings yield	2.4%	1.5%	-0.9%	0.5%	4.9%	6.5%	8.1%	8.1%
Enterprise value	$19.3B	$12.9B	$8.8B	$9.5B	$8.6B	$6B	$6.4B	$4.6B
Net debt / EBITDA	2.15×	2.35×	3.93×	4.75×	2.12×	1.37×	1.94×	2.02×
Cash conversion cycle (days)	58	53	58	75	73	68	70	67