• MasTec average debt/equity ratio for 2023 was 1.13, a 29.89% decline from 2022.
• MasTec average debt/equity ratio for 2022 was 0.87, a 35.94% increase from 2021.
• MasTec average debt/equity ratio for 2021 was 0.64, a 1.54% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.