MasTec Targets $17 B Revenue in 2026 with Mid-Teens Margins and $1.45 B EBITDA
MasTec reported record revenues of $14.3 billion for 2025 and set a 2026 target of $17 billion, marking 19% growth, while forecasting mid-teens pipeline margins and $1.45 billion EBITDA. With leverage at 1.7x and over $2 billion liquidity, the company plans disciplined bidding and potential accretive acquisitions.
1. Record 2025 Revenues and 2026 Target
MasTec posted record revenue of $14.3 billion in 2025 and has set an aggressive $17 billion revenue target for 2026, representing a 19% year-over-year increase that underscores the company’s high-growth trajectory.
2. Margin Expansion in Pipeline and Power Delivery
Management anticipates pipeline segment margins to reach mid-teens percentages in 2026 as capacity added in 2025 matures, while the Power Delivery segment is poised for margin improvement driven by the Greenlink project restart and increased transmission work.
3. Strategic Capital Allocation and Acquisitions
With leverage at 1.7x and over $2 billion in available liquidity, MasTec is focusing on selective bidding, field productivity and disciplined capital allocation to achieve its $1.45 billion EBITDA goal, while preserving capacity for accretive acquisitions like NV2A and McKee Utility Contractors.
4. Valuation and Stock Performance
Shares have climbed 65.7% over the past six months, outperforming broader sectors, and currently trade at a premium forward P/E of 37.6, supported by upward-revised earnings estimates projecting 31.5% growth in 2026 and 28.1% in 2027.