CSX vs MasTec
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The short version
- MasTec is the larger business, with $14.3B of revenue in fiscal 2025 against $14.1B for CSX.
- MasTec grew revenue faster (16.2%, against −3.1%).
- CSX turned more of its sales into free cash flow (12.1% FCF margin, against 2.0%).
- Investors pay more for each dollar of MasTec’s earnings: a P/E of 27.3x against 26.5x for CSX.
| Latest fiscal year | CSX · FY25 | MTZ · FY25 |
|---|---|---|
| Size | ||
| Market cap | $94.1B | $13.5B |
| Revenue | $14.1B | $14.3B |
| Free cash flow | $1.7B | $286M |
| Net income | $2.9B | $399M |
| Growth | ||
| Revenue growth | −3.1% | 16.2% |
| 5-year growth | 5.9% | 17.7% |
| Share count change | −3.6% | −0.2% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 32.1% | — |
| Net margin | 20.5% | 2.8% |
| FCF margin | 12.1% | 2.0% |
| Return on capital | 11.3% | 11.2% |
| Return on equity | 22.5% | 12.9% |
| Balance sheet | ||
| Net debt | $18.2B | $1.9B |
| Net debt / EBITDA | 2.9x | 1.7x |
| Dividends and buybacks | $2.4B | $77.3M |
| Valuation & quality | ||
| P/E | 26.5x | 27.3x |
| Piotroski F-score | 4 | 7 |
Revenue
FY16
CSX $11.1B
MTZ $5.1B
FY17
CSX $11.4B
MTZ $6.6B
FY18
CSX $12.3B
MTZ $6.9B
FY19
CSX $11.9B
MTZ $7.2B
FY20
CSX $10.6B
MTZ $6.3B
FY21
CSX $12.5B
MTZ $8.0B
FY22
CSX $14.9B
MTZ $9.8B
FY23
CSX $14.7B
MTZ $12.0B
FY24
CSX $14.5B
MTZ $12.3B
FY25
CSX $14.1B
MTZ $14.3B
CSX
MTZ
Operating margin
FY16
CSX 30.8%
MTZ —
FY17
CSX 32.6%
MTZ —
FY18
CSX 39.8%
MTZ —
FY19
CSX 41.6%
MTZ —
FY20
CSX 41.2%
MTZ —
FY21
CSX 44.7%
MTZ —
FY22
CSX 40.1%
MTZ —
FY23
CSX 37.5%
MTZ —
FY24
CSX 36.1%
MTZ —
FY25
CSX 32.1%
MTZ —
CSX
MTZ
Free cash flow
FY16
CSX $643M
MTZ $88.5M
FY17
CSX $1.4B
MTZ $20.7M
FY18
CSX $2.9B
MTZ $350M
FY19
CSX $3.2B
MTZ $424M
FY20
CSX $2.6B
MTZ $724M
FY21
CSX $3.3B
MTZ $623M
FY22
CSX $3.4B
MTZ $88.9M
FY23
CSX $3.3B
MTZ $494M
FY24
CSX $2.7B
MTZ $973M
FY25
CSX $1.7B
MTZ $286M
CSX
MTZ
Return on capital
FY16
CSX 10.0%
MTZ 8.0%
FY17
CSX 15.5%
MTZ 16.7%
FY18
CSX 14.3%
MTZ 11.5%
FY19
CSX 14.6%
MTZ 15.5%
FY20
CSX 12.6%
MTZ 12.3%
FY21
CSX 15.8%
MTZ 10.7%
FY22
CSX 16.4%
MTZ 2.4%
FY23
CSX 14.5%
MTZ 2.3%
FY24
CSX 13.5%
MTZ 7.0%
FY25
CSX 11.3%
MTZ 11.2%
CSX
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.