MTZ // MasTec Inc.

DES <GO> NYSE CIK 0000015615 ↗

Industrials • Water Sewer Pipeline Comm & Power Line Construction

$177.82 ▼ -3.18 (-1.76%)

MKT CAP: $14.28B • VOL: 2.54M

52W L $164 52W H $441

ALTMAN Z

3.41 SAFE

PIOTROSKI

8 / 9

MTZ // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 58/100 [D+] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE D+

RQD CONFIDENCE

58 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Sell — Weak Fundamentals / Trim

01 MASSIVE / SEC XBRL

Forensic Fundamentals

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

02 OPRA GEX + SEC 13F

Whale & Options Flow

10 / 20

NEUTRAL

NET GEX +0% • CALL SWEEP 52% • P/C 0.95

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

13 / 20

SOLID

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON MTZ)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 90/100 Z-SCORE: +3.05σ

MTZ Accounting Gap: Net Income (+145.1%) Outpaced OCF (-51.3%) With +4.7% Working-Capital Build

CASH CONVERSION GAP

+196.5% (NI vs OCF)

RECEIVABLES / WC BLOAT

+4.7% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on MasTec Inc. (MTZ) exposes a +196.5% Cash Conversion Gap as YoY Net Income growth (+145.1%) diverged from Operating Cash Flow growth (-51.3%). Non-cash current assets and receivables expanded +4.7% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

MTZ // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -52.78%⚡ TESTING RESISTANCE

2026-10-30O $169.0H $189.0L $169.0C $186.1VOL 3.68M

RES: $193.2SUP: $156.7SMA50: $215.6SMA200: $302.4

MTZ // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

NEUTRAL / PAIR TRADE CONVICTION: 51/100

BEAR 0

100 BULL

MasTec Inc. (MTZ) exhibits 41.0% gross margins and 6.8% return on invested capital within Industrials (Water Sewer Pipeline Comm & Power Line Construction), balanced against a 16.1x enterprise multiple and 6.5% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 41.0% gross profitability converts into 3.4% operating margin and 6.8% ROIC, outpacing sector cost of capital.

ROIC: 6.8% // GM: 41.0%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +16.2% paired with -0.68% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +16.2% // FCF YLD: -0.68%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 3.41 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.

ALTMAN Z: 3.41 // F-SCORE: 8/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 35.8x trailing P/E (30.1x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 35.8x // EV/EBITDA: 16.1x

02. Options Skew & Event Volatility Risk

Options market prices a ±6.5% implied move with a 0.95 put/call ratio around $174.00 max pain.

IMPL MOVE: ±6.5% // P/C: 0.95

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Water Sewer Pipeline Comm & Power Line Construction require continuous execution to defend 2.8% net margins.

NET MARGIN: 2.8% // D/E: 0.85x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 30.1x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.87).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 35.8x

FORWARD P/E 30.1x

EV / EBITDA 16.1x

FCF YIELD -0.68%

GROSS MARGIN 41.0%

OPERATING MARGIN 3.4%

NET MARGIN 2.8%

ROIC % 6.8%

REV GROWTH YOY +16.2%

DILUTED EPS TTM $4.97

DEBT / EQUITY 0.85x

DIVIDEND YIELD 0.00%

RSI-14 MOMENTUM 40.6

5Y EQUITY BETA 0.87

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // MTZPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $162.71

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for MTZ & activate live FRED threshold breach alerts.

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