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MasTec (MasTec) Piotroski F-Score : 5 (As of Jun. 21, 2024)


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What is MasTec Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

MasTec has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for MasTec's Piotroski F-Score or its related term are showing as below:

MTZ' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of MasTec was 8. The lowest was 3. And the median was 5.


MasTec Piotroski F-Score Historical Data

The historical data trend for MasTec's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

MasTec Piotroski F-Score Chart

MasTec Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.00 6.00 4.00 3.00 4.00

MasTec Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.00 3.00 3.00 4.00 5.00

Competitive Comparison of MasTec's Piotroski F-Score

For the Engineering & Construction subindustry, MasTec's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


MasTec's Piotroski F-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, MasTec's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where MasTec's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 15.542 + 14.296 + 0.753 + -41.18 = $-11 Mil.
Cash Flow from Operations was -11.539 + 294.482 + 490.705 + 107.75 = $881 Mil.
Revenue was 2874.115 + 3257.077 + 3280.083 + 2686.849 = $12,098 Mil.
Gross Profit was 389.335 + 399.959 + 367.713 + 307.177 = $1,464 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(9055.336 + 9287.82 + 9529.727 + 9373.511 + 8745.353) / 5 = $9198.3494 Mil.
Total Assets at the begining of this year (Mar23) was $9,055 Mil.
Long-Term Debt & Capital Lease Obligation was $2,829 Mil.
Total Current Assets was $3,445 Mil.
Total Current Liabilities was $2,633 Mil.
Net Income was 16.212 + 48.896 + 3.224 + -80.54 = $-12 Mil.

Revenue was 2301.792 + 2513.484 + 3008.361 + 2584.659 = $10,408 Mil.
Gross Profit was 273.681 + 325.649 + 371.29 + 225.165 = $1,196 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(7087.996 + 7404.686 + 7475.663 + 9293.259 + 9055.336) / 5 = $8063.388 Mil.
Total Assets at the begining of last year (Mar22) was $7,088 Mil.
Long-Term Debt & Capital Lease Obligation was $3,236 Mil.
Total Current Assets was $3,657 Mil.
Total Current Liabilities was $2,379 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

MasTec's current Net Income (TTM) was -11. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

MasTec's current Cash Flow from Operations (TTM) was 881. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=-10.589/9055.336
=-0.00116937

ROA (Last Year)=Net Income/Total Assets (Mar22)
=-12.208/7087.996
=-0.00172235

MasTec's return on assets of this year was -0.00116937. MasTec's return on assets of last year was -0.00172235. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

MasTec's current Net Income (TTM) was -11. MasTec's current Cash Flow from Operations (TTM) was 881. ==> 881 > -11 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=2828.798/9198.3494
=0.30753322

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=3235.658/8063.388
=0.40127773

MasTec's gearing of this year was 0.30753322. MasTec's gearing of last year was 0.40127773. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=3445.47/2633.371
=1.30838761

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=3656.663/2378.535
=1.53735934

MasTec's current ratio of this year was 1.30838761. MasTec's current ratio of last year was 1.53735934. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

MasTec's number of shares in issue this year was 77.942. MasTec's number of shares in issue last year was 76.984. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1464.184/12098.124
=0.12102571

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1195.785/10408.296
=0.11488768

MasTec's gross margin of this year was 0.12102571. MasTec's gross margin of last year was 0.11488768. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=12098.124/9055.336
=1.33602155

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=10408.296/7087.996
=1.46843988

MasTec's asset turnover of this year was 1.33602155. MasTec's asset turnover of last year was 1.46843988. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+1+1+1+0+0+1+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

MasTec has an F-score of 5 indicating the company's financial situation is typical for a stable company.

MasTec  (NYSE:MTZ) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


MasTec Piotroski F-Score Related Terms

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MasTec (MasTec) Business Description

Traded in Other Exchanges
Address
800 S. Douglas Road, 12th Floor, Coral Gables, FL, USA, 33134
MasTec is a leading infrastructure construction company operating mainly in North America across a range of industries. The company's primary activities include the engineering, building, installation, maintenance, and upgrade of communications, oil and gas, utility, renewable energy, and other infrastructure. MasTec reports its results under five reportable segments: 1) communications; 2) clean energy and infrastructure; 3) oil and gas; 4) power delivery, and 5) other.
Executives
Paul Dimarco officer: CFO 800 S. DOUGLAS ROAD, SUITE 1200, CORAL GABLES FL 33134
Timothy Michael Love officer: CAO 8915 GEORGE WILLIAMS RD., KNOXVILLE TN 37923
Ava L Parker director 1469 HARRINGTON PARK DRIVE, JACKSONVILLE FL 32225
Ernst N Csiszar director 2600 S RIVER ROAD, DES PLAINES IL 60018
Robert E Apple officer: Chief Operations Officer 800 S DOUGLAS ROAD, 12TH FLOOR, CORAL GABLES FL 33134
C Robert Campbell officer: EVP & CFO 800 DOUGLAS ROAD, 12TH FLOOR, CORAL GABLES FL 33134
De Cardenas Alberto I officer: Executive Vice President 800 S DOUGLAS ROAD, 12TH FLOOR, CORAL GABLES X1 33134
George Pita officer: CFO 3000 NW 107TH AVENUE, MIAMI FL 33172
Robert J Dwyer director 880 SOUTH OCEAN BOULEVARD, PALM BEACH FL 33480
Jose S Sorzano director AUSTIN GROUP INC, 5305 LEE HIGHWAY NORTH, ARLINGTON VA 22207
Julia L Johnson director NETCOMMUNICATIONS LLC, 614 GRAND HIGHWAY, CLAREMONT FL 34711
Javier Alberto Palomarez director 3405 PINNEY POINT DRIVE, FLOWER MOUND TX 75022
Jorge Mas director, 10 percent owner 800 DOUGLAS ROAD, 12TH FLOOR, CORAL GABLES FL 33134
Jose Ramon Mas director, officer: EVP 800 DOUGLAS ROAD, 12TH FLOOR, CORAL GABLES FL 33134
Daniel A Restrepo director C/O MASTEC, INC., 800 S. DOUGLAS RD., 12TH FLOOR, CORAL GABLES FL 33134