• MasTec average gross margin for 2023 was 11.69%, a 8.6% increase from 2022.
• MasTec average gross margin for 2022 was 12.79%, a 19.41% decline from 2021.
• MasTec average gross margin for 2021 was 15.87%, a 0.63% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.