Mastec Inc.
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+ FollowMarket Cap$13.24B
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Earnings Call Q2 2026
July 31, 2026 - AI Summary
Record quarter + strong momentum (Q2 2020)
- Revenue $4.37B (+23% YoY); Adjusted EBITDA $384M (+40% YoY); Adjusted EPS $2.22 (+49% YoY).
- Backlog $21.4B: ~+$5B YoY and ~+$1B sequential organic → “new record level.”
- Book-to-bill ~1.2x (over 1.2x total company), with EBITDA margins +~100 bps YoY.
- Management frames demand as strengthening across “mission critical” infrastructure trends (AI/data centers, grid reliability, electrification/energy transition, connectivity).
Full-year 2026 guidance raised (expectations for growth remain strong)
- Updated outlook: Revenue $18.2B, Adjusted EBITDA $1.6B, Adjusted EPS $9.30.
- Implies YoY growth of ~27% revenue, ~39% EBITDA, ~42% EPS.
- Important nuance: despite strong backlog growth, management says most of the Superior-driven backlog impact is expected in 2027, not heavily in 2026—supporting longer-term earnings power rather than near-term revenue fireworks.
Major acquisition tailwind: Superior Group closed (strategic and operational upside)
- Superior acquisition (closed in July) adds scale/skills (mission-critical electrical infrastructure, data centers) and ~3,000 employees.
- Management expects synergies by combining broader MasTec services onto Superior’s customer relationships and geographies.
- Superior is described as increasing exposure to a “generational infrastructure investment cycle,” but they noted they will not see much of its backlog flow-through in 2026 (timing into 2027 emphasized).
- Net leverage: 1.8x in Q2, but would have been ~2.2x pro forma for Superior; company expects <2.0x by year-end, consistent with financial policy.
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$81.96
51.1% downside
Current Fair Value
51.1% downsideOvervalued by 51.1% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $13.24 Billion |
|---|---|
| Enterprise Value | $16.92 Billion |
| Earnings per Share | $5.12 |
| Beta | 1.84 |
| Outstanding Shares | 79,077,000 |
Return
| Return on Equity | 14.18% |
|---|---|
| Return on Assets | 4.51% |
| Return on Invested Capital | 11.85% |
Valuation & Multiples
| P/E Ratio | 30.11 |
|---|---|
| PEG | -479.19 |
| Price to Sales | 0.77 |
| Price to Book Ratio | 3.72 |
| Enterprise Value to Revenue | 0.98 |
| Enterprise Value to EBIT | 19.3 |
| Enterprise Value to Net Income | 34 |
| Total Debt to Enterprise | 0.24 |
| Debt to Equity | 1.15 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$2.95
Consensus analyst estimateRevenue Estimate
$4.94 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 25, 2027
EPS Estimate
$2.55
Consensus analyst estimateRevenue Estimate
$4.96 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 60.85% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.57%▼ 73.27% |
|---|---|
| Total Invested | $596.73M▼ 97.61% |
| Investors Holding | 228▼ 720.00% |
About Mastec Inc.
CEO: Jose Mas
