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Mastec vs Primoris Services: revenue, profit, margins and growth compared

Mastec brought in $14.3B of revenue in fiscal 2025, Primoris Services $7.6B in fiscal 2025. Revenue changed by +16.2% at Mastec and +19.0% at Primoris Services on the year before, so Primoris Services grew faster. Mastec kept 2.8% of its revenue as net profit, Primoris Services 3.6%. Free cash flow was $285.7M at Mastec and $340.5M at Primoris Services.

Side by side, latest fiscal year

MTZPRIM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$14.3B$7.6B
Revenue growth+16.2%+19.0%
Net income$399M$274.9M
Net margin2.8%3.6%
Free cash flow$285.7M$340.5M
Free cash flow margin2.0%4.5%
Earnings per share (diluted)$5.07$5.02
Cash$396M$535.5M
Debt$2.3B$469.9M
Price to earnings42.014.5
Market value$17.1B$3.9B
Dividend yieldn/a0.44%
Rank by revenue in sector#44 of 451 · Industrials#88 of 451 · Industrials

Over the years

Revenue
MTZ FY2018: $6.9BMTZ FY2019: $7.2BMTZ FY2020: $6.3BMTZ FY2021: $8BMTZ FY2022: $9.8BMTZ FY2023: $12BMTZ FY2024: $12.3BMTZ FY2025: $14.3BPRIM FY2018: $2.9BPRIM FY2019: $3.1BPRIM FY2020: $3.5BPRIM FY2021: $3.5BPRIM FY2022: $4.4BPRIM FY2023: $5.7BPRIM FY2024: $6.4BPRIM FY2025: $7.6BFY18FY19FY20FY21FY22FY23FY24FY25
MTZ $14.3BPRIM $7.6B
Net income
MTZ FY2018: $259.7MMTZ FY2019: $392.3MMTZ FY2020: $322.8MMTZ FY2021: $328.8MMTZ FY2022: $33.4MMTZ FY2023: -$49.9MMTZ FY2024: $162.8MMTZ FY2025: $399MPRIM FY2018: $77.5MPRIM FY2019: $82.3MPRIM FY2020: $105MPRIM FY2021: $115.7MPRIM FY2022: $133MPRIM FY2023: $126.1MPRIM FY2024: $180.9MPRIM FY2025: $274.9MFY18FY19FY20FY21FY22FY23FY24FY25
MTZ $399MPRIM $274.9M
Net margin
MTZ FY2018: 3.8%MTZ FY2019: 5.5%MTZ FY2020: 5.1%MTZ FY2021: 4.1%MTZ FY2022: 0.3%MTZ FY2023: -0.4%MTZ FY2024: 1.3%MTZ FY2025: 2.8%PRIM FY2018: 2.6%PRIM FY2019: 2.7%PRIM FY2020: 3.0%PRIM FY2021: 3.3%PRIM FY2022: 3.0%PRIM FY2023: 2.2%PRIM FY2024: 2.8%PRIM FY2025: 3.6%FY18FY19FY20FY21FY22FY23FY24FY25
MTZ 2.8%PRIM 3.6%
Revenue growth
MTZ FY2019: +4.0%MTZ FY2020: -12.0%MTZ FY2021: +25.8%MTZ FY2022: +23.0%MTZ FY2023: +22.7%MTZ FY2024: +2.6%MTZ FY2025: +16.2%PRIM FY2019: +5.7%PRIM FY2020: +12.4%PRIM FY2021: +0.2%PRIM FY2022: +26.4%PRIM FY2023: +29.3%PRIM FY2024: +11.4%PRIM FY2025: +19.0%FY19FY20FY21FY22FY23FY24FY25
MTZ +16.2%PRIM +19.0%
Free cash flow
MTZ FY2018: $349.5MMTZ FY2019: $423.8MMTZ FY2020: $723.5MMTZ FY2021: $623MMTZ FY2022: $88.9MMTZ FY2023: $494.3MMTZ FY2024: $972.8MMTZ FY2025: $285.7MPRIM FY2018: $16.6MPRIM FY2019: $24.5MPRIM FY2020: $248.6MPRIM FY2021: -$54.1MPRIM FY2022: -$11.3MPRIM FY2023: $95.5MPRIM FY2024: $381.8MPRIM FY2025: $340.5MFY18FY19FY20FY21FY22FY23FY24FY25
MTZ $285.7MPRIM $340.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Mastec and Primoris Services

Which is bigger by revenue, Mastec or Primoris Services?

Mastec is bigger by revenue: $14.3B in fiscal 2025, against $7.6B for Primoris Services in fiscal 2025.

Which keeps more of its revenue as profit, Mastec or Primoris Services?

Mastec had a net margin of 2.8% in fiscal 2025; Primoris Services had 3.6% in fiscal 2025.

Which grew revenue faster, Mastec or Primoris Services?

In their latest fiscal years revenue changed by +16.2% at Mastec and +19.0% at Primoris Services.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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