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DCF valuation

What is Mastec Inc worth?

With the base-case assumptions below, a discounted cash flow model on Mastec Inc's reported free cash flow gives $73.11 per share. The share price was $180.84 on November 10, 2026, 147% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$285.7M
Average free cash flow, last 5 years
$493M
Cash
$481.8M
balance sheet of September 30, 2026
Debt
$4.17B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
78,694,000
Revenue growth per year, last 5 years
17.7%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$26.04-86%
Base15.0%9.0%2.5%9.0%$73.11-60%
Bull20.0%11.5%3.0%8.0%$160.77-11%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$108.75$119.87$133.45$150.43$172.25
8.0%$81.98$89.19$97.70$107.92$120.42
9.0%$62.50$67.43$73.11$79.75$87.59
10.0%$47.73$51.23$55.21$59.74$64.98
11.0%$36.17$38.74$41.61$44.84$48.50

Where the presets come from

Base: years 1 to 5 grow at Mastec Inc's revenue growth rate over the last 5 fiscal years (17.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Mastec Inc company page