AECOM vs MasTec
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KIRA’s take AI analyst
I put AECOM and MasTec side by side, using each one’s latest annual report. Here is what stands out:
- AECOM is the larger business, with $16.1B of revenue in fiscal 2025 against $14.3B for MasTec.
- MasTec grew revenue faster (16.2%, against 0.2%).
- AECOM turned more of its sales into free cash flow (4.2% FCF margin, against 2.0%).
- AECOM earned a higher return on the capital invested in it (22.4%, against 11.2%).
- Investors pay more for each dollar of AECOM’s earnings: a P/E of 27.9x against 27.5x for MasTec.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
AECOM
ACM
6/9
Net marginFCF marginReturn on capitalReturn on equityNet debt / EBITDAShare count change
MasTec
MTZ
2/9
Revenue growth5-year growth
Side by side
Best in the row
| Latest fiscal year | ACM FY25 | MTZ FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.8B | $13.6B |
| Revenue | $16.1B | $14.3B |
| Free cash flow | $685M | $286M |
| Net income | $562M | $399M |
| Growth | ||
| Revenue growth | 0.2% | 16.2% |
| 5-year growth | 4.0% | 17.7% |
| Share count change | −2.3% | −0.2% |
| Profitability | ||
| Gross margin | 7.5% | — |
| Operating margin | 6.4% | — |
| Net margin | 3.5% | 2.8% |
| FCF margin | 4.2% | 2.0% |
| Return on capital | 22.4% | 11.2% |
| Return on equity | 24.0% | 12.9% |
| Balance sheet | ||
| Net debt | $1.1B | $1.9B |
| Net debt / EBITDA | 0.9x | 1.7x |
| Dividends and buybacks | $522M | $77.3M |
| Valuation & quality | ||
| P/E | 27.9x | 27.5x |
| Piotroski F-score | 7 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.