Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 9, 2026

Mastec Inc (MTZ)

A forensic read on Mastec Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

5.4

Distress distance

Clean

Earnings quality

Forensic signals

47.9

P / E (ttm)

12.2%

ROE

$21.9B

Market cap

16.2%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Mastec Inc earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 5.4, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by share-count dilution.

What the filings flag

+1.1%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +3% over the last 3 years to FY2025 (+1.1%/yr). A change of direction: the count shrank over the full period (net -0.7%/yr since FY2011) but has grown across the recent window, so the two figures point opposite ways — read the recent window on totals versus per-share, since the full-period rate no longer describes what the count is doing now. That's ~1.1% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~3%.

6.6%

FY2025

Return on invested capital. Return on invested capital is 6.6% in the latest fiscal year and rising from 1% — slightly below its ~9% cost of capital — reinvestment is roughly a wash.

Key fundamentals

Latest Revenue$14.30B

Revenue Growth YoY+16.2%

Revenue CAGR (3yr)+13.5%

Net Margin2.8%

Free Cash Flow$285.7M

Return on Equity12.2%

Debt / Equity0.72x

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Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.