Fluor vs MasTec
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The short version
- Fluor is the larger business, with $15.5B of revenue in fiscal 2025 against $14.3B for MasTec.
- MasTec grew revenue faster (16.2%, against −5.0%).
- MasTec turned more of its sales into free cash flow (2.0% FCF margin, against −2.8%).
- MasTec earned a higher return on the capital invested in it (11.2%, against −13.9%).
| Latest fiscal year | FLR · FY25 | MTZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.2B | $13.5B |
| Revenue | $15.5B | $14.3B |
| Free cash flow | −$437M | $286M |
| Net income | −$51.0M | $399M |
| Growth | ||
| Revenue growth | −5.0% | 16.2% |
| 5-year growth | −0.4% | 17.7% |
| Share count change | −5.8% | −0.2% |
| Profitability | ||
| Gross margin | −0.8% | — |
| Operating margin | −2.4% | — |
| Net margin | −0.3% | 2.8% |
| FCF margin | −2.8% | 2.0% |
| Return on capital | −13.9% | 11.2% |
| Return on equity | −1.4% | 12.9% |
| Balance sheet | ||
| Net debt | −$1.1B | $1.9B |
| Net debt / EBITDA | — | 1.7x |
| Dividends and buybacks | $754M | $77.3M |
| Valuation & quality | ||
| P/E | — | 27.3x |
| Piotroski F-score | 3 | 7 |
Revenue
FY16
FLR $19.0B
MTZ $5.1B
FY17
FLR $14.8B
MTZ $6.6B
FY18
FLR $18.9B
MTZ $6.9B
FY19
FLR $15.5B
MTZ $7.2B
FY20
FLR $15.8B
MTZ $6.3B
FY21
FLR $14.2B
MTZ $8.0B
FY22
FLR $13.7B
MTZ $9.8B
FY23
FLR $15.5B
MTZ $12.0B
FY24
FLR $16.3B
MTZ $12.3B
FY25
FLR $15.5B
MTZ $14.3B
FLR
MTZ
Operating margin
FY16
FLR —
MTZ —
FY17
FLR 1.4%
MTZ —
FY18
FLR 2.7%
MTZ —
FY19
FLR −5.4%
MTZ —
FY20
FLR −1.5%
MTZ —
FY21
FLR −1.9%
MTZ —
FY22
FLR 1.5%
MTZ —
FY23
FLR 1.0%
MTZ —
FY24
FLR 2.8%
MTZ —
FY25
FLR −2.4%
MTZ —
FLR
MTZ
Free cash flow
FY16
FLR $470M
MTZ $88.5M
FY17
FLR $319M
MTZ $20.7M
FY18
FLR −$48.8M
MTZ $350M
FY19
FLR $38.2M
MTZ $424M
FY20
FLR $73.0M
MTZ $724M
FY21
FLR −$50.0M
MTZ $623M
FY22
FLR −$44.0M
MTZ $88.9M
FY23
FLR $106M
MTZ $494M
FY24
FLR $664M
MTZ $973M
FY25
FLR −$437M
MTZ $286M
FLR
MTZ
Return on capital
FY16
FLR 15.7%
MTZ 8.0%
FY17
FLR 5.1%
MTZ 16.7%
FY18
FLR 9.8%
MTZ 11.5%
FY19
FLR −33.1%
MTZ 15.5%
FY20
FLR −18.2%
MTZ 12.3%
FY21
FLR —
MTZ 10.7%
FY22
FLR —
MTZ 2.4%
FY23
FLR —
MTZ 2.3%
FY24
FLR 25.7%
MTZ 7.0%
FY25
FLR −13.9%
MTZ 11.2%
FLR
MTZ
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.