LECO vs. MTZ: Lincoln Electric vs. MasTec Stock Comparison

November 11, 2026

How do Lincoln Electric (LECO) and MasTec (MTZ) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Lincoln Electric (LECO) and MasTec (MTZ) both fall under the Capital Goods industry group, but LECO is classified in Machinery while MTZ is classified in Construction & Engineering.

Company profile comparison for Lincoln Electric (LECO) and MasTec (MTZ)
Profile Item	LECO	MTZ
Name	Lincoln Electric Holdings, Inc.	MasTec, Inc.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Machinery	Construction & Engineering
GICS Sub-Industry	Industrial Machinery & Supplies & Components	Construction & Engineering
Market Capitalization	14.91 billion USD	13.98 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	April 7, 1994	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

LECO

MTZ

GSPC

Lincoln Electric (LECO) vs. MasTec (MTZ), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Lincoln Electric (LECO) and MasTec (MTZ). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Lincoln Electric (LECO) and MasTec (MTZ). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
Total Return (1Y)	27.30%	-7.45%
Total Return (3Y, Annualized)	17.31%	57.37%
Total Return (5Y, Annualized)	16.33%	13.96%

Risk Profile

Drawdown History

LECO

MTZ

GSPC

Lincoln Electric (LECO) vs. MasTec (MTZ), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Lincoln Electric (LECO) and MasTec (MTZ). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
Volatility (1Y, Annualized)	31.13%	55.99%
Beta (5Y)	1.17	1.91
Max Drawdown (5Y)	-34.29%	-63.67%
Avg. Volume (3M)	409.99K	1.63M

Risk-Adjusted Performance

Risk-Return Positioning

LECO and MTZ are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
Sharpe Ratio (1Y)	0.74	-0.21
Sortino Ratio (1Y)	1.11	-0.28

Profitability

ROE (TTM)

Lincoln Electric (LECO) at 38.75% sits in the top ROE quartile, while MasTec (MTZ) at 14.53% is closer to the peer norm — stronger capital efficiency for LECO.

LECO

Capital Goods industry group

38.75%

Max: 40.55%
LECO: 38.75%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

MTZ

Capital Goods industry group

14.53%

Max: 40.55%
Q3: 19.29%
MTZ: 14.53%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Lincoln Electric (LECO) at 12.40% retains a top-quartile share of revenue as profit, ahead of MasTec (MTZ) at 2.80%, which keeps about the industry-typical share.

LECO

Capital Goods industry group

12.40%

Max: 27.47%
LECO: 12.40%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

MTZ

Capital Goods industry group

2.80%

Max: 27.47%
Q3: 12.10%
Median: 6.30%
MTZ: 2.80%
Q1: 1.40%
Min: -12.89%

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Both Lincoln Electric (LECO) at 18.29% and MasTec (MTZ) at 5.64% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

LECO

Capital Goods industry group

18.29%

Max: 36.60%
Q3: 18.33%
LECO: 18.29%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

MTZ

Capital Goods industry group

5.64%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
MTZ: 5.64%
Q1: 5.14%
Min: -12.63%

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
ROE (TTM)	38.75%	14.53%
ROA (TTM)	13.32%	4.43%
Net Margin (TTM)	12.40%	2.80%
Operating Margin (TTM)	18.29%	5.64%
Gross Margin (TTM)	35.54%	12.74%

Growth

Revenue Growth

Both Lincoln Electric (LECO) at 5.60% and MasTec (MTZ) at 16.22% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their Revenue Growth across different time periods.

EPS Growth

MasTec (MTZ) at 146.12% clears its industry range for EPS growth, a much stronger earnings trajectory than Lincoln Electric (LECO) at 14.36%, which is closer to a typical peer reading.

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
Revenue Growth (YoY)	5.60%	16.22%
Revenue Growth (3Y CAGR)	4.02%	13.51%
EPS Growth (YoY)	14.36%	146.12%
EPS Growth (3Y CAGR)	5.05%	129.40%

Financial Strength

Current Ratio (MRQ)

Lincoln Electric (LECO) at 1.91 keeps current ratio within its industry’s typical mid-range, while MasTec (MTZ) at 1.39 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for MTZ.

LECO

Capital Goods industry group

1.91

Max: 5.22
Q3: 2.95
Median: 2.08
LECO: 1.91
Q1: 1.43
Min: 0.36

MTZ

Capital Goods industry group

1.39

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
MTZ: 1.39
Min: 0.36

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Lincoln Electric (LECO) at 0.78 carries an industry-typical debt-to-equity mix, while MasTec (MTZ) at 1.12 uses more debt funding than most peers.

LECO

Capital Goods industry group

0.78

Max: 2.33
Q3: 1.12
LECO: 0.78
Median: 0.60
Q1: 0.29
Min: 0.00

MTZ

Capital Goods industry group

1.12

Max: 2.33
MTZ: 1.12
Q3: 1.12
Median: 0.60
Q1: 0.29
Min: 0.00

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
Current Ratio (MRQ)	1.91	1.39
Debt / Equity (MRQ)	0.78	1.12
Net Debt / EBITDA	1.00	3.08

Dividends

Dividend Yield (TTM)

MasTec (MTZ) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Lincoln Electric (LECO) reports a yield of 1.16%, ranking against industry peers normally.

LECO

Capital Goods industry group

1.16%

Max: 2.66%
LECO: 1.16%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

MTZ

Capital Goods industry group

0.00%

Max: 2.66%
Q3: 1.14%
Median: 0.24%
MTZ: 0.00%
Q1: 0.00%
Min: 0.00%

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

MasTec (MTZ) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Lincoln Electric (LECO) reports a payout of 30.30%, ranking against industry peers normally.

LECO

Capital Goods industry group

30.30%

Max: 67.39%
LECO: 30.30%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

MTZ

Capital Goods industry group

0.00%

Max: 67.39%
Q3: 28.02%
Median: 6.86%
MTZ: 0.00%
Q1: 0.00%
Min: 0.00%

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
Dividend Yield (TTM)	1.16%	0.00%
Dividend Payout Ratio (TTM)	30.30%	0.00%

Valuation

P/E Ratio (TTM)

Both Lincoln Electric (LECO) at 26.40 and MasTec (MTZ) at 28.40 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

LECO

Capital Goods industry group

26.40

Max: 59.38
Q3: 35.92
LECO: 26.40
Median: 25.41
Q1: 19.47
Min: 3.03

MTZ

Capital Goods industry group

28.40

Max: 59.38
Q3: 35.92
MTZ: 28.40
Median: 25.41
Q1: 19.47
Min: 3.03

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

MasTec (MTZ) at 0.81 sits in the cheaper P/S ratio quartile while Lincoln Electric (LECO) at 3.21 prices around its industry’s middle — MTZ costs less per dollar of sales, though read it alongside growth and margins.

LECO

Capital Goods industry group

3.21

Max: 7.54
Q3: 3.76
LECO: 3.21
Median: 2.15
Q1: 1.03
Min: 0.03

MTZ

Capital Goods industry group

0.81

Max: 7.54
Q3: 3.76
Median: 2.15
Q1: 1.03
MTZ: 0.81
Min: 0.03

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

MasTec (MTZ) at 3.35 is valued about in line with its industry on P/B ratio, while Lincoln Electric (LECO) at 9.59 carries an above-peer premium to book — LECO is pricier on assets.

LECO

Capital Goods industry group

9.59

Max: 9.66
LECO: 9.59
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

MTZ

Capital Goods industry group

3.35

Max: 9.66
Q3: 5.00
MTZ: 3.35
Median: 3.12
Q1: 1.81
Min: -1.08

Lincoln Electric (LECO) vs. MasTec (MTZ): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Lincoln Electric (LECO) and MasTec (MTZ)
Metric	LECO	MTZ
P/E Ratio (TTM)	26.40	28.40
P/S Ratio (TTM)	3.21	0.81
P/B Ratio (MRQ)	9.59	3.35
Free Cash Flow Yield (TTM)	2.68%	1.00%