MasTec's stock has climbed 46.2% over the past six months to $353.54 per share, driven by robust backlog and earnings growth. The company's backlog reached $20.33 billion in the latest quarter, with a two-year average annual growth of 24.1%, signaling strong future revenue visibility. Earnings per share grew at a compounded annual rate of 77.1% over the last two years, outpacing revenue growth and reflecting improved profitability. However, MasTec's gross margin averaged just 12.7% over the past five years, indicating weak structural profitability in a competitive market. The stock currently trades at 35.3 times forward earnings.
MasTec IncStrong backlog growth and earnings growth driving stock surge