What is the primary revenue source for MasTec (MTZ)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze MTZ's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out MasTec's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How MasTec Makes Money: MTZ Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

Operating margin improved by 1.45 percentage points year over year.

Revenue: USD 8.20B
Largest revenue segment share (Clean Energy and Infrastructure): 35.98%
Selling, general and administrative: USD 420.68M
Income tax expense: USD 69.78M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueRevenue · Revenues
Selling, general and administrativesum(SellingAndMarketingExpense, GeneralAndAdministrativeExpense)
Income tax expenseIncome tax expense (benefit) · IncomeTaxExpenseBenefit
Largest revenue segment share (Clean Energy and Infrastructure)Clean Energy and Infrastructure · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Goodwill: USD 2.36B
Property, plant and equipment: USD 1.92B
Accounts receivable: USD 1.74B
Total liabilities: USD 7.33B
Shareholder equity: USD 3.60B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

GoodwillGoodwill, net · Goodwill
Property, plant and equipmentProperty and equipment, net · PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesLiabilities · Liabilities
Accounts receivableAccounts receivable, net of allowance · AccountsReceivableNetCurrent

Cash

Did accounting profit ultimately turn into cash?

Neutral

Operating cash flow is positive, but profit-to-cash conversion is relatively weak.

Operating cash flow equals 63.01% of net income.

Free cash flow is negative after capital expenditure.

Net income: USD 190.96M
Operating cash flow: USD 120.32M
Cash conversion: 63.01%
Free cash flow: USD −67.99M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to mastec, inc. · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

There was no material cash return; earnings stayed in the business without significant dilution.

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?