MasTec Inc (MTZ)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | -195,090 | -102,470 | 258,983 | 326,278 | 738,525 |
| Revenue | US$ in thousands | 11,995,900 | 9,778,040 | 7,951,800 | 6,321,000 | 7,183,200 |
| Gross profit margin | -1.63% | -1.05% | 3.26% | 5.16% | 10.28% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $-195,090K ÷ $11,995,900K
= -1.63%
The gross profit margin of MasTec Inc has exhibited a declining trend over the past five years. It decreased from 10.28% in 2019 to 5.16% in 2020, followed by a further decline to 3.26% in 2021, 1.05% in 2022, and -1.63% in 2023. This negative trend indicates that the company's cost of goods sold has been increasing at a faster rate than its revenue, resulting in lower profitability at the gross profit level. MasTec Inc may need to evaluate its pricing strategy, cost management, and efficiency in order to improve its gross profit margin in the future and enhance overall financial performance.
Peer comparison
Dec 31, 2023