How does this infrastructure contractor make money?
MasTec Inc is a construction company that delivers infrastructure work across multiple end markets. Its projects span large, complex builds where execution and cost control matter as much as winning work. Revenue is tied to delivering contract work and completing jobs at planned economics. With a market value around USD 28.4 billion, it sits at a scale where incremental returns on capital can materially move overall results.
How fast did revenue grow and margins hold?
FundamentalsFor 2025 (reported in USD), revenue was USD 14.3 billion, rising 16.3% versus the prior year, alongside net income of USD 422.0 million. Profitability remained modest in percentage terms, with trailing gross margin at 12.82%, operating margin at 4.96%, and net margin at 2.94%.
On the capital side, depreciation and amortization was USD 295.9 million and capex was USD 260.0 million. Cash was USD 396.0 million against total debt of USD 308.6 million, and trailing ROE was 14.25%.
Does the price outrun DCF outcomes?
DCF / MultiplesThe shares trade at USD 358.86, which sits above the discounted cash-flow fair-value range implied by the weaker-
More fragile than forgiving
TakeawayThe stock price assumes a lot from a low-margin business. Returns need to keep compounding without margin backsliding. Capital discipline matters when projects absorb cash unexpectedly. If earnings wobble, the valuation can compress quickly. Overall, the setup looks more fragile than forgiving at this price.