MasTec, Inc. is a leading North American infrastructure engineering and construction company based in Coral Gables, Florida. The company specializes in the engineering, building, installation, maintenance, and upgrade of communications, energy, and utility infrastructure. Its primary customers include major providers in the telecommunications, utility, renewable energy, and government sectors.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
14,299,171
12,303,464
11,995,934
9,778,038
Cost of Sales
12,506,437
10,675,987
10,613,762
8,586,333
Gross Profit
1,792,734
1,627,477
1,382,172
1,191,705
Selling, General & Administrative Expenses
713,009
684,508
698,899
559,437
Depreciation & Amortization Expenses
427,082
506,618
603,162
507,148
Operating Profit
652,643
436,351
80,111
125,120
Interest Expense
(172,985)
(193,266)
(234,405)
(112,255)
Non-Operating Income
35,740
7,878
71,590
30,194
Total Non-Operating Income
(137,245)
(185,388)
(162,815)
(82,061)
Income Before Provision for Income Taxes
515,398
250,963
(82,704)
43,059
Provision for Income Taxes
93,384
51,542
(35,408)
9,171
Consolidated Net Income
422,014
199,421
(47,296)
33,888
Net Income Attributable to Minority Interests and Other
22,972
36,633
2,653
534
Net Income Attributable to Common Shareholders
399,042
162,788
(49,949)
33,354
Basic EPS
5.12
2.09
-0.64
0.45
Diluted EPS
5.07
2.06
-0.64
0.42
Basic Weighted Average Shares Outstanding
77,866
78,049
77,535
74,917
Diluted Weighted Average Shares Outstanding
78,694
78,880
77,535
76,185
Shares Outstanding
78,898
79,309
79,280
78,682
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
396,030
399,903
529,561
370,592
Total Cash and Cash Equivalents
396,030
399,903
529,561
370,592
Accounts Receivable
1,540,263
1,381,462
1,370,074
1,399,732
Other Receivables
2,001,913
1,555,807
1,756,381
1,729,886
Total Trade Receivables
3,542,176
2,937,269
3,126,455
3,129,618
Inventories
112,465
107,345
108,146
117,969
Other Current Assets
278,408
208,013
210,091
240,948
Total Current Assets
4,329,079
3,652,530
3,974,253
3,859,127
Net Property, Plant & Equipment
2,185,740
1,945,067
2,070,147
2,033,635
Net Intangible Assets
656,248
727,366
784,260
946,299
Goodwill
2,248,992
2,203,077
2,126,366
2,045,041
Other Long-Term Assets
503,483
447,235
418,485
409,157
Total Assets
9,923,542
8,975,275
9,373,511
9,293,259
Accounts Payable
1,280,897
1,105,747
1,242,602
1,109,867
Accrued Expenses
789,044
660,195
614,018
547,859
Current Portion of Long-Term Debt
154,311
186,095
177,246
171,916
Current Portion of Leases
175,649
146,183
137,765
96,516
Unearned Revenue
747,730
735,625
480,967
406,232
Other Current Liabilities
123,414
165,854
184,621
163,647
Total Current Liabilities
3,271,045
2,999,699
2,837,219
2,496,037
Long-Term Debt
2,176,372
2,038,017
2,888,058
3,052,193
Leases
292,839
261,303
292,873
194,050
Other Long-Term Liabilities
848,765
688,913
634,100
809,792
Total Long-Term Liabilities
3,317,976
2,988,233
3,815,031
4,056,035
Total Liabilities
6,589,021
5,987,932
6,652,250
6,552,072
Common Stock
9,932
9,903
9,909
9,862
Treasury Stock
(734,133)
(656,807)
(659,913)
(663,910)
Additional Paid-in Capital
1,319,920
1,291,027
1,263,360
1,246,590
Accumulated Other Comprehensive Income
(44,033)
(40,847)
(52,997)
(50,955)
Retained Earnings
2,707,623
2,308,581
2,145,793
2,195,742
Total Common Shareholders' Equity
3,259,309
2,911,857
2,706,152
2,737,329
Minority Interests and Other
75,212
75,486
15,109
3,858
Total Shareholders' Equity
3,334,521
2,987,343
2,721,261
2,741,187
Total Liabilities and Shareholders' Equity
9,923,542
8,975,275
9,373,511
9,293,259
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
422,014
199,421
(47,296)
33,888
Depreciation & Amortization
427,082
506,618
603,162
507,148
Share-Based Compensation Expense
34,002
32,672
33,335
27,446
Other Adjustments
75,041
(61,082)
(178,256)
(50,064)
Changes in Trade Receivables
(587,422)
237,337
(9,178)
(298,053)
Changes in Inventories
(2,709)
26,345
33,018
(20,523)
Changes in Unearned Revenue
(7,305)
247,502
49,384
(39,372)
Changes in Other Operating Activities
187,882
(70,059)
203,108
191,827
Cash from Operating Activities
545,714
1,121,625
687,277
352,297
Capital Expenditure
(259,985)
(148,855)
(192,941)
(263,352)
Proceeds from Sale of Property, Plant & Equipment
56,304
66,038
84,110
81,470
Purchases of Investments
(1,000)
(801)
(1,899)
(3,981)
Proceeds from Sale of Investments
3,750
1,503
425
400
Payments for Business Acquisitions
(71,044)
(79,933)
(69,388)
(635,763)
Other Investing Activities
4,730
4,558
1,632
43
Cash from Investing Activities
(267,245)
(157,490)
(178,061)
(821,183)
Issuance of Long-Term Debt
5,597,386
4,648,860
4,378,200
4,065,000
Repayments of Long-Term Debt
(5,541,827)
(5,476,796)
(4,509,950)
(3,241,128)
Net Issuance / (Repayments) of Long-Term Debt
55,559
(827,936)
(131,750)
823,872
Repurchases of Common Shares
(82,937)
(2,946)
(10,330)
(82,019)
Net Issuance / (Repurchases) of Common Shares
(82,937)
(2,946)
(10,330)
(82,019)
Other Financing Activities
(268,411)
(247,001)
(208,918)
(238,364)
Cash from Financing Activities
(283,438)
(1,090,234)
(350,998)
480,897
Effect of Exchange Rate Changes on Cash and Cash Equivalents
1,096
(3,559)
751
(2,155)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash