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MasTec

MTZ
54
Engineering & Construction · Industrials
Price
$329.59
-11.22 (-3.29%)
Market Cap
$26.04B
Winston Score
54
Winston is curious
Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+6.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 73.9M (2021) → 78.7M (2025)

MasTec is a construction and engineering company that builds the infrastructure behind everyday services — things like power lines, pipelines, cell towers, and broadband networks. Its main customers are large utility companies, telecom providers like AT&T and Comcast, and energy companies. MasTec is one of the largest specialty contractors in the United States.

The company makes money by winning contracts to design and build infrastructure projects, then charging for labor, equipment, and materials. It operates primarily across the U.S., with some work in Canada and Latin America, and generates roughly $12–13 billion in annual revenue. Its competitive edge comes from its scale, skilled workforce, and long-term relationships with major utility and telecom clients. The key growth driver is the massive wave of spending on clean energy infrastructure — wind, solar, and grid upgrades — but that same exposure to large, complex projects creates risk if costs run over budget or contracts are delayed.

Winston Score History

Politician Trades

6 trades / 12mo

2 Congressional buys and 4 sells on MTZ in the last 12 months.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+15.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+90.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

23.2%ownership

Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$396M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

MasTec is a rare growth stock that's already generating positive cash flow while growing at 16%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin
10.1%
Thin — 10.1% gross margin
Operating Margin
5.3%
Thin — 5.3% operating margin
ROCE
3.7%
Weak — 3.7% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+16.2%
Fast-growing sales (16.2% YoY)
EPS YoY
+145.5%
Earnings growing fast (145.5% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Cash Conversion
137%
Turns 137% of profit into real cash
FCF Margin
1.5%
Thin free cash flow (1.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
0.70
Moderate — manageable debt (0.70)
Interest Cover
4.38x
Adequate interest coverage (4.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
64.2x
Expensive — P/E 64.2

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
+35.9
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (64.2 → 28.3)

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Dividends

Not applicable for this business.
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