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MasTec Business Segments

Business, geographic, and product segment breakdowns

MasTec generates $15.3B in annual revenue across 4 key segments: Clean Energy and Infrastructure ($4.5B), Communications ($3.1B), Other (-), and Pipeline Infrastructure ($2.0B). Based on the Q1 2026 filing.

Clean Energy and Infrastructure (TTM)$4.5BCommunications (TTM)$3.1BOther (TTM)-Pipeline Infrastructure (TTM)$2.0BPower Delivery (TTM)$3.8B
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$28.3B
P/E Ratio62.95
ROE14.53%

Products & Services

Per claim deductible, insurance policies

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Automobile Liability$2.5M$6.3M$6.3M$6.3M$6.3M—
General Liability Policy$2.5M$6.3M$6.3M$6.3M$6.3M—
Workers' Compensation Policy$500K$500K$500K$500K$500K—

Loss contingency, maximum loss per employee

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Employee Group Medical Claims$600K———$600K—

Self-insurance reserve

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Workers' Compensation, General and Automobile Policies$251M$254.9M$275.7M$295.1M$306.8M$325.2M
Employee Group Medical Claims$4.7M$5.1M$4.1M$2.2M$2.3M$7.5M

Concentration risk, percentage of total

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Master Service and Other Service Agreements1.0%48.0%45.0%43.0%—40.0%

Insurance receivables

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Workers' Compensation, General and Automobile Policies$21.4M——$26.3M$25.2M$26.3M

Line of credit facility, letters of credit issued

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Workers' Compensation, General and Automobile Policies$8.7M$8.7M$7.5M$7.4M$7.4M$7.4M

Self-insurance reserve, non-current

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Workers' Compensation, General and Automobile Policies$184.1M$188.1M$202M$218.2M$224.9M$227.8M

Guarantor obligations, maximum exposure, undiscounted

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Workers' Compensation$196.3M$190.2M$193.7M$206.6M$198.6M$198.6M

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Intangible assets and goodwill, net$108.8M$107M$112.4M$109.2M$108.8M$107.6M
Revenue$22.4M$49.8M$43.9M$39M$44.5M$54M
PP&E (Net)$25.3M$23.9M$24.3M$23.4M$23M$22.6M

Business Segments

Additions from new business combinations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$300K———$21.8M$97.7M
Communications$0———$10M$0
Pipeline Infrastructure$13.4M$350K$350K$350K$350K$0
Power Delivery$14.6M———$0$0

Consolidated assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$2.7B$2.5B$2.5B$2.7B$2.8B$3.2B
Power Delivery$2.5B$2.5B$2.6B$2.7B$2.6B$2.7B
Pipeline Infrastructure$1.6B$1.6B$1.7B$1.8B$1.9B$2B
Communications$1.7B$1.7B$1.8B$1.9B$2B$1.9B
Other$318.2M$318.6M$318M$316.8M$364M$357.1M
Corporate————$230.3M$209.8M

Consolidated capital expenditures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pipeline Infrastructure$5.1M$10.1M$21.6M$27.6M$41M$41.2M
Power Delivery$31.1M$21.2M$19.7M$15.5M$22.3M$32M
Clean Energy and Infrastructure$6.7M$7.9M$11.4M$7.7M$7.8M$13.6M
Communications$4.9M$7.1M$9.1M$3.9M$1.9M$3.4M
Other$0$0$0$0$0$0

Consolidated depreciation and amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$29.3M$27.7M$26.9M$26.6M$27M$36.1M
Pipeline Infrastructure$26.6M$25.8M$25.1M$25.7M$30.8M$34M
Power Delivery$40.6M$37.1M$35M$34.2M$36M$31.7M
Communications$16.1M$16.1M$13.4M$15.8M$14.9M$18.1M
Other$0$0$0$0$0$0

Costs of revenue, excluding depreciation and amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$1.1B$807.5M$1B$1.2B$1.1B$1.2B
Power Delivery$869.6M$817.5M$919.2M$966.2M$983.3M$935.5M
Communications$650.3M$615.9M$733.3M$794.3M$809.9M$734.5M
Pipeline Infrastructure$362.6M$300.3M$462.2M$490.6M$509.2M$516M
Other$0$0$0$0$0$0

Currency translation adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pipeline Infrastructure-$300K———$1M-$1M
Clean Energy and Infrastructure$0——$0$0$0
Communications$0——$0$0$0
Power Delivery$0——$0$0$0

Goodwill, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$742.3M$742.3M$745.7M$745.7M$767.5M$872.4M
Communications$546.5M$546.5M$546.5M$547M$557M$555.6M
Pipeline Infrastructure$518.9M$518.9M$523.4M$524.3M$527.3M$526.4M
Power Delivery$395.4M$397.2M$397.2M$397.2M$397.2M$397.2M

Measurement period adjustments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$0$0$3.4M——$7.2M
Communications$175K$0$0$0$0-$1.4M
Pipeline Infrastructure$0$0$700K$1.1M$2M$100K
Power Delivery$0$1.8M———$0

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$54.5M$51.2M$45.2M$50.8M$47.8M$56.5M
Power Delivery$41.7M$30.9M$35.1M$40.2M$44.9M$38.6M
Pipeline Infrastructure$8.5M$11.7M$15.4M$15.2M$15.4M$21.6M
Communications$22.7M$18.2M$21M$17.3M$19.8M$20.8M
Other-$9M-$8M-$7.2M-$7.1M-$8.5M$10.4M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Clean Energy and Infrastructure$1.3B$915.8M$1.1B$1.4B$1.3B$1.3B
Power Delivery$995.8M$899.7M$1B$1.1B$1.1B$1B
Communications$739.4M$680.9M$836.9M$914.6M$906.8M$802.1M
Pipeline Infrastructure$429.6M$356.5M$539.7M$597.8M$643.9M$682.5M
Other$0$0$0$0$0$0

Segment EBITDA

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Pipeline Infrastructure$58.5M$44.5M$62.1M$92M$119.3M$144.9M
Clean Energy and Infrastructure$104.2M$57.1M$83.3M$115.4M$92.8M$89M
Power Delivery$84.5M$51.3M$91.3M$104.3M$91.9M$72M
Communications$66.4M$46.8M$82.6M$103M$77.1M$46.8M
Other$9M$8M$7.2M$7.1M$8.5M-$10.4M