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MasTec Beneish M-Score

: -2.95 (As of Today)
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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NYSE:MTZ' s Beneish M-Score Range Over the Past 10 Years
Min: -4.56   Med: -2.51   Max: 1.4
Current: -2.95

-4.56
1.4

During the past 13 years, the highest Beneish M-Score of MasTec was 1.40. The lowest was -4.56. And the median was -2.51.


MasTec Beneish M-Score Historical Data

The historical data trend for MasTec's Beneish M-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 Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.33 -2.03 -3.11 -2.42 -3.23

MasTec Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score 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 Premium Member Only Premium Member Only Premium Member Only -2.98 -3.20 -3.23 -2.65 -2.95

Competitive Comparison

For the Engineering & Construction subindustry, MasTec's Beneish M-Score, along with its competitors' market caps and Beneish M-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 Beneish M-Score Distribution

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

* The bar in red indicates where MasTec's Beneish M-Score falls into.



MasTec Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of MasTec for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.8849+0.528 * 0.9089+0.404 * 1.0942+0.892 * 1.0538+0.115 * 0.7911
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8915+4.679 * -0.0856-0.327 * 0.9765
=-2.95

* 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 (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $865 Mil.
Revenue was 1962.658 + 1775.424 + 1636.795 + 1698.279 = $7,073 Mil.
Gross Profit was 287.426 + 261.565 + 314.56 + 317.757 = $1,181 Mil.
Total Current Assets was $2,408 Mil.
Total Assets was $5,902 Mil.
Property, Plant and Equipment(Net PPE) was $1,317 Mil.
Depreciation, Depletion and Amortization(DDA) was $368 Mil.
Selling, General, & Admin. Expense(SGA) was $307 Mil.
Total Current Liabilities was $1,639 Mil.
Long-Term Debt & Capital Lease Obligation was $1,563 Mil.
Net Income was 75.451 + 65.649 + 113.122 + 116.491 = $371 Mil.
Non Operating Income was 21.614 + 9.942 + 16.636 + 8.488 = $57 Mil.
Cash Flow from Operations was 92.178 + 257.164 + 224.796 + 245.238 = $819 Mil.
Accounts Receivable was $928 Mil.
Revenue was 1569.297 + 1416.604 + 1709.223 + 2016.618 = $6,712 Mil.
Gross Profit was 227.472 + 190.307 + 274.985 + 326.06 = $1,019 Mil.
Total Current Assets was $2,137 Mil.
Total Assets was $4,990 Mil.
Property, Plant and Equipment(Net PPE) was $1,171 Mil.
Depreciation, Depletion and Amortization(DDA) was $244 Mil.
Selling, General, & Admin. Expense(SGA) was $327 Mil.
Total Current Liabilities was $1,523 Mil.
Long-Term Debt & Capital Lease Obligation was $1,249 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(865.2 / 7073.156) / (927.8 / 6711.742)
=0.12232163 / 0.13823535
=0.8849

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(1018.824 / 6711.742) / (1181.308 / 7073.156)
=0.15179725 / 0.16701286
=0.9089

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (2408.289 + 1316.754) / 5901.628) / (1 - (2137.048 + 1171.044) / 4989.985)
=0.36881095 / 0.33705372
=1.0942

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=7073.156 / 6711.742
=1.0538

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(244.467 / (244.467 + 1171.044)) / (367.727 / (367.727 + 1316.754))
=0.17270583 / 0.21830285
=0.7911

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(306.787 / 7073.156) / (326.538 / 6711.742)
=0.04337342 / 0.04865175
=0.8915

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1563.237 + 1638.991) / 5901.628) / ((1249.374 + 1523.391) / 4989.985)
=0.54260079 / 0.555666
=0.9765

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(370.713 - 56.68 - 819.376) / 5901.628
=-0.0856

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

MasTec has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.


MasTec Business Description

MasTec logo
Industry
Industrials » Construction NAICS : 237130 SIC : 1623
Traded in Other Exchanges
Address
800 S. Douglas Road, 12th Floor, Coral Gables, FL, USA, 33134
MasTec Inc is a leading infrastructure construction company operating primarily throughout North America. Its principal activities include engineering, building, installation, maintenance, and upgrades of communications, energy, and utility infrastructure. The company installs wireless, wireline, and satellite communications; oil and gas pipeline infrastructure; conventional and renewable power generation; and other industrial systems. MasTec has five operating segments: Communications, Oil and Gas, Electrical Transmission, Clean Energy and Infrastructure, and Other. The majority of its revenue is derived from the Communications segments. The company markets services individually and in combination with other companies to provide a wide range of solutions for customers.
Executives
De Cardenas Alberto officer: EVP, General Counsel 800 S DOUGLAS ROAD 12TH FLOOR CORAL GABLES X1 33134
Johnson Julia L director NETCOMMUNICATIONS LLC 614 GRAND HIGHWAY CLAREMONT FL 34711
Csiszar Ernst N director 2600 S RIVER ROAD DES PLAINES IL 60018
Dwyer Robert J director 880 SOUTH OCEAN BOULEVARD PALM BEACH FL 33480
Sorzano Jose S director AUSTIN GROUP INC 5305 LEE HIGHWAY NORTH ARLINGTON VA 22207
Palomarez Javier Alberto director 3405 PINNEY POINT DRIVE FLOWER MOUND TX 75022
Campbell C Robert director 800 DOUGLAS ROAD 12TH FLOOR CORAL GABLES FL 33134
Mas Jose Ramon director, officer: CEO 800 DOUGLAS ROAD, 12TH FLOOR CORAL GABLES FL 33134
Mas Jorge director 800 DOUGLAS ROAD 12TH FLOOR CORAL GABLES FL 33134
Pita George officer: CFO 3000 NW 107TH AVENUE MIAMI FL 33172
Apple Robert E officer: COO 800 S DOUGLAS ROAD 12TH FLOOR CORAL GABLES FL 33134
Heuvelen John Van director 363 HIGH STREET DENVER CO 80218
Jaumot Frank E director 190 SE 19TH AVENUE POMPANO BEACH FL 33060
Restrepo Daniel A director C/O MASTEC, INC. 800 S. DOUGLAS RD., 12TH FLOOR CORAL GABLES FL 33134
Harris Ray officer: President 800 DOUGLAS ROAD 12TH FLOOR - MASTEC CORAL GABLES FL 33134

MasTec Headlines

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