Tearsheet

Mastech Digital (MHH)

Market Price (12/4/2025): $7.8 | Market Cap: $91.8 Mil
Sector: Industrials | Industry: Human Resource & Employment Services

Mastech Digital (MHH)

Market Price (12/4/2025): $7.8
Market Cap: $91.8 Mil
Sector: Industrials
Industry: Human Resource & Employment Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%	Weak multi-year price returns 2Y Excs Rtn is -61%, 3Y Excs Rtn is -118%	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 124x, P/EPrice/Earnings or Price/(Net Income) is 97x
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52%		Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.5%, Rev Chg QQuarterly Revenue Change % is -0.9%
2	Attractive yield FCF Yield is 8.6%		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Cloud Computing, and Cybersecurity. Themes include AI Software Platforms, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52%
2	Attractive yield FCF Yield is 8.6%
3	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Cloud Computing, and Cybersecurity. Themes include AI Software Platforms, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -61%, 3Y Excs Rtn is -118%
5	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 124x, P/EPrice/Earnings or Price/(Net Income) is 97x
6	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.5%, Rev Chg QQuarterly Revenue Change % is -0.9%
7	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%

Valuation, Metrics & Events

	12/4/25	2024	2023	2022	2021
Share Price CYE	$7.80	$14.90	$8.43	$11.01	$17.07
Market Cap CYE ($ Mil)	91.8	174.5	97.7	127.9	195.5
Total Debt ($ Mil)	3.1	3.8	5.1	4.9	18.3
Total Cash ($ Mil)	27.9	27.7	21.1	7.1	6.6
Enterprise Value ($ Mil)	67.0	178.3	102.8	132.8	213.8
Valuation Ratios
P/S TTM	0.4	0.9	0.5	0.5	0.9
P/EBIT TTM	124.4	45.9	-111.9	10.5	13.2
P/E TTM	97.2	51.1	-13.7	14.6	16.0
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4	1.1	1.6
P/EBIT TTM (Sector)	12.9	11.8	11.5	9.2	12.3
P/E TTM (Sector)	17.6	16.5	15.4	12.2	16.4

	12/4/25	2024	2023
Share Price CYE	$7.80	$14.90	$8.43
Market Cap CYE ($ Mil)	91.8	174.5	97.7
Total Debt ($ Mil)	3.1	3.8	5.1
Total Cash ($ Mil)	27.9	27.7	21.1
Enterprise Value ($ Mil)	67.0	178.3	102.8
Valuation Ratios
P/S TTM	0.4	0.9	0.5
P/EBIT TTM	124.4	45.9	-111.9
P/E TTM	97.2	51.1	-13.7
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4
P/EBIT TTM (Sector)	12.9	11.8	11.5
P/E TTM (Sector)	17.6	16.5	15.4

	MHH	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.2
Rev Chg Q	-0.9%	7.1%
Rev Chg LTM	5.2%	6.1%
Rev Chg 3Y Avg	-5.5%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.0
CFO LTM ($ Bil)	0.0
Net Inc LTM ($ Bil)	0.0
Op Mgn LTM	0.3%	18.8%
CFO/Rev LTM	3.8%	20.5%
Net Inc Mgn	0.4%	13.1%
VALUATION	MODERATE
P/S	0.4	3.2
P/CFO	11.0	15.8
P/FCF	11.6	20.5
P/E	97.2	23.5
STABILITY	VERY GOOD
Debt/Equity	0.04	0.20
Cash/Assets	0.25	0.07

AI Generated Analysis | Feedback

Metric	Value	Date	Source
Days Sales Outstanding (DSO)	53 days	6302025	Link
Order Bookings (Data and Analytics Services)	$5.8 million	6302025	Link
Billable Consultant Base Change (Quarterly)	Decline of 11 consultants	6302025	Link
Customer Concentration (Top 3 Customers' Revenue Share)	Approximately 37% of total sales (Fidelity ~13%, CGI ~12%, Populus ~12%)	3312025	Link
Total Employees	1525	7312025	Link
Billable Consultant Headcount Growth (Year-to-Date)	13% increase	9302024	Link

Recent
11/12/2025	Earnings Release	Rev: $48 Mil (A) vs. $46 Mil (E) EPS: 0.29 (A) vs. $0.17 (E)
Upcoming
2/18/2026	Earnings Release	Rev: - EPS: -

MHH Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

The provided search results contain information about Mastech Digital (MHH) within the specified timeframe of August 31, 2025, to December 4, 2025, based on the assumed current date. However, the stock movement data (the -3.6% figure) is *not* present in the search results. I can only highlight key events and their potential impact, but not directly explain the given -3.6% movement without the actual stock data for that specific period. I will focus on the reported financial results and relevant news within the timeframe that could influence stock performance. Here are the key points for Mastech Digital (MHH) for the approximate time period from August 31, 2025, to December 4, 2025: 1. Mastech Digital announced its Second Quarter 2025 financial results on August 13, 2025, reporting a 0.9% year-over-year decrease in consolidated revenue to $49.1 million. The GAAP diluted earnings per share also significantly dropped to $0.01 in Q2 2025, compared to $0.12 in Q2 2024.

2. The company's Data and Analytics Services segment experienced softer activity levels in Q2 2025, with order bookings totaling $5.8 million, reflecting slower client decision-making and a cautious approach to discretionary spending.

Stock Movement Drivers

Fundamental Drivers

The -0.4% change in MHH stock from 9/3/2025 to 12/3/2025 was primarily driven by a -0.4% change in the company's P/E Multiple.

	9032025	12032025	Change
Stock Price ($)	7.83	7.80	-0.38%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	200.00	200.00	0.00%
Net Income Margin (%)	0.43%	0.43%	0.00%
P/E Multiple	106.15	105.74	-0.38%
Shares Outstanding (Mil)	11.77	11.77	0.00%
Cumulative Contribution			-0.38%

LTM = Last Twelve Months as of date shown

Market Drivers

9/3/2025 to 12/3/2025

	Return	Correlation
MHH	-0.4%
Market (SPY)	6.2%	13.1%
Sector (XLI)	2.9%	25.7%

Fundamental Drivers

The 20.6% change in MHH stock from 6/4/2025 to 12/3/2025 was primarily driven by a 195.4% change in the company's P/E Multiple.

	6042025	12032025	Change
Stock Price ($)	6.47	7.80	20.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	200.44	200.00	-0.22%
Net Income Margin (%)	1.06%	0.43%	-59.04%
P/E Multiple	35.80	105.74	195.35%
Shares Outstanding (Mil)	11.75	11.77	-0.12%
Cumulative Contribution			20.56%

LTM = Last Twelve Months as of date shown

Market Drivers

6/4/2025 to 12/3/2025

	Return	Correlation
MHH	20.6%
Market (SPY)	15.1%	11.2%
Sector (XLI)	7.6%	21.4%

Fundamental Drivers

The -50.0% change in MHH stock from 12/3/2024 to 12/3/2025 was primarily driven by a -51.2% change in the company's P/S Multiple.

	12032024	12032025	Change
Stock Price ($)	15.61	7.80	-50.03%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	194.25	200.00	2.96%
P/S Multiple	0.94	0.46	-51.17%
Shares Outstanding (Mil)	11.70	11.77	-0.62%
Cumulative Contribution			-50.03%

LTM = Last Twelve Months as of date shown

Market Drivers

12/3/2024 to 12/3/2025

	Return	Correlation
MHH	-50.0%
Market (SPY)	14.3%	30.4%
Sector (XLI)	9.8%	25.9%

Fundamental Drivers

The -44.0% change in MHH stock from 12/4/2022 to 12/3/2025 was primarily driven by a -90.4% change in the company's Net Income Margin (%).

	12042022	12032025	Change
Stock Price ($)	13.92	7.80	-43.97%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	244.07	200.00	-18.06%
Net Income Margin (%)	4.53%	0.43%	-90.42%
P/E Multiple	14.62	105.74	623.07%
Shares Outstanding (Mil)	11.62	11.77	-1.30%
Cumulative Contribution			-43.97%

LTM = Last Twelve Months as of date shown

Market Drivers

12/4/2023 to 12/3/2025

	Return	Correlation
MHH	-7.1%
Market (SPY)	53.2%	22.2%
Sector (XLI)	45.4%	20.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
MHH Return	44%	7%	-36%	-23%	77%	-50%	-33%
Peers Return	42%	10%	-6%	8%	10%	-12%	53%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
MHH Win Rate	50%	33%	42%	42%	58%	30%
Peers Win Rate	65%	57%	45%	52%	60%	42%
S&P 500 Win Rate	58%	75%	42%	67%	75%	70%
Max Drawdowns [4]
MHH Max Drawdown	-31%	-10%	-36%	-28%	-14%	-57%
Peers Max Drawdown	-48%	-21%	-26%	-15%	-19%	-21%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: PAYX, BBSI, JOB, ADP, DAY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

Unique Key	Event	MHH	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-62.8%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	168.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-57.3%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	134.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	54 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-58.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	142.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	211 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-86.2%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	623.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1476 days	1480 days

Compare to PAYX, BBSI, JOB, ADP, DAY

In The Past

Mastech Digital's stock fell -62.8% during the 2022 Inflation Shock from a high on 4/19/2022. A -62.8% loss requires a 168.6% gain to breakeven.

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About Mastech Digital (MHH)

Mastech Digital, Inc., together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. It operates through two segments, Data and Analytics Services, and IT Staffing Services. The company offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources. It also provides a range of IT staffing services in the areas of data management and analytics, cloud, mobility, social, automation, business intelligence/data warehousing, web services, enterprise resource planning and customer resource management, and e-business solutions. In addition, the company offers digital transformation services, such as digital learning services; and cloud-based enterprise application across sales, marketing, and customer service organizations. It provides its services across various industry verticals, including financial services, government, healthcare, manufacturing, retail, technology, telecommunications, and transportation. The company was formerly known as Mastech Holdings, Inc. and changed its name to Mastech Digital, Inc. in September 2016. Mastech Digital, Inc. was founded in 1986 and is headquartered in Pittsburgh, Pennsylvania.

AI Generated Analysis | Feedback

Like Robert Half, but exclusively focused on IT professionals.
A specialized Accenture for digital solutions and talent.

AI Generated Analysis | Feedback

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IT Staffing Services: Provides clients with skilled technology professionals for contract, contract-to-hire, and direct-hire positions across various IT domains.
Digital Transformation Services: Delivers specialized consulting and implementation services focusing on data, analytics, artificial intelligence, cloud solutions, and digital learning to help businesses modernize and innovate.

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AI Generated Analysis | Feedback

Mastech Digital (MHH) primarily sells its IT staffing and digital transformation services to other businesses (B2B) rather than individuals.

Based on their latest Form 10-K filings (e.g., for the fiscal year ended December 31, 2023), Mastech Digital has a diversified client base. The company explicitly states that no single customer accounted for 10% or more of its total consolidated revenues for the years ended December 31, 2023, 2022, and 2021. Therefore, there are no specific "major customer" companies that can be individually identified by name and symbol based on public disclosures.

However, Mastech Digital serves a broad range of enterprise clients across various industries, including but not limited to:

Financial Services
Healthcare and Pharmaceuticals
Manufacturing and Industrial
Retail and Consumer Goods
Technology and Telecommunications

Their clientele typically consists of large and mid-market organizations seeking talent for IT projects, digital transformation initiatives, and general IT staffing needs.

AI Generated Analysis | Feedback

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AI Generated Analysis | Feedback

Nirav Patel President and Chief Executive Officer

Nirav Patel assumed the role of President and Chief Executive Officer of Mastech Digital on January 6, 2025. He is an experienced technology executive with over two decades of experience leading growth and scaling multi-billion dollar businesses globally. Prior to joining Mastech Digital, Mr. Patel served as President and CEO of Bristlecone, where he was instrumental in transforming it into a Data and AI-led supply chain powerhouse. Earlier in his career, he held the position of Senior Vice President at Cognizant, where he scaled their Communications, Media, and Technology business to $2 billion in annual revenue.

Kannan Sugantharaman Chief Financial and Operations Officer

Kannan Sugantharaman was appointed Chief Financial and Operations Officer of Mastech Digital, effective April 14, 2025. He brings over 25 years of experience in financial management, business leadership, and operational strategy. Before joining Mastech Digital, Mr. Sugantharaman served as CFO of Omega Healthcare, where he oversaw global finance, governance, investor relations, and led a multi-year business transformation initiative. He also held senior leadership roles at Cognizant Technology Solutions, including CFO for Global Delivery Operations, and Sutherland Global Services, beginning his career at KPMG.

Vishwanath Shetty Head, Human Resources

Vishwanath Shetty serves as the Head of Human Resources for Mastech Digital.

Jennifer Ford Lacey Head – Legal and Admin

Jennifer Ford Lacey holds the position of Head – Legal and Admin at Mastech Digital.

Michael Bryan Head – Enterprise Business, IT Staffing

Michael Bryan is the Head – Enterprise Business, IT Staffing at Mastech Digital.

AI Generated Analysis | Feedback

The clear emerging threat to Mastech Digital (MHH) is the rapid advancement and adoption of Generative AI tools and platforms across the IT services and staffing landscape. These technologies pose a threat by:

Automating and streamlining tasks: Generative AI can automate aspects of software development (e.g., code generation with tools like GitHub Copilot), data analysis, content creation (for digital learning), and cloud infrastructure management. This can reduce the demand for traditional human-led services in these areas, potentially diminishing MHH's project scope and staffing needs for certain roles.
Shifting skill requirements and demand: The accelerated adoption of AI tools is creating a rapid evolution in the skills required for IT professionals. MHH faces the challenge of ensuring its workforce and talent pool for staffing are proficient in leveraging and integrating AI, or risk having their existing talent become less competitive or even obsolete for certain tasks.
Empowering client self-sufficiency: As AI tools become more sophisticated and accessible, clients may increasingly leverage these technologies internally to perform tasks that were previously outsourced to IT service providers, potentially reducing their reliance on companies like Mastech Digital for certain projects or staff augmentation.

AI Generated Analysis | Feedback

Mastech Digital (symbol: MHH) operates in several key addressable markets related to IT services and digital transformation. Their main offerings include IT Staffing Services and Digital Transformation Services, which encompass Data Management & Analytics, Salesforce.com, SAP HANA, and digital learning services.

Addressable Market Sizes:

IT Staffing Services:
- Global: The global IT staffing market was valued at approximately $150+ billion in 2023, with other estimates placing it at USD 117.4 billion. It is projected to grow from USD 240.77 billion in 2024 to USD 431.27 billion by 2035. Another forecast estimates the market to increase by USD 96.8 billion at a Compound Annual Growth Rate (CAGR) of 8.5% between 2023 and 2028. The market reached USD 123.30 billion in 2025 and is projected to advance to USD 147.58 billion by 2030.
- U.S.: The IT staffing market in the United States was valued at USD 37.89 billion in 2023 and is projected to reach USD 52.21 billion by 2029, growing at a CAGR of 5.49%.
Digital Transformation Services:
- Global: The global digital transformation market was estimated at USD 1,070.43 billion in 2024 and is projected to reach USD 4,617.78 billion by 2030, growing at a CAGR of 28.5% from 2025 to 2030. Another report estimated the market size at USD 911.2 billion in 2024, projected to reach USD 3,289.4 billion by 2030. For digital transformation consulting services specifically, the global market size was USD 36.82 billion in 2021 and is expected to reach USD 56.3 billion by the end of 2025, further expanding to USD 207.64 billion by 2035 with a CAGR of 13.16% from 2025 to 2035.
- U.S.: The digital transformation market in the United States is expected to reach a projected revenue of US$ 1,285,863.9 million (approximately $1.29 trillion) by 2030, with a CAGR of 25.4% from 2025 to 2030. Other estimates indicate the U.S. market at USD 0.66 trillion in 2025, projected to reach USD 1.66 trillion by 2030, and reaching USD 1.4 trillion by 2033. The U.S. digital transformation market size was USD 210.4 billion in 2024 and is expected to reach USD 1,375.5 billion by 2033. The digital transformation consulting services market in the United States was valued at USD 40.8 billion in 2024 and is expected to reach USD 88.94 billion in 2030.
Data Analytics Solutions:
- Global: The global data analytics market size was valued at USD 65 billion in 2023 and is poised to grow to USD 578.77 billion by 2032, with a CAGR of 27.5% in the forecast period (2025-2032). Other estimates show the market size at USD 69.54 billion in 2024, projected to reach USD 302.01 billion by 2030, and USD 74.26 billion in 2024, expected to reach USD 482.61 billion by 2033. The Analytics as a Service (AaaS) market is expected to increase from USD 13.3 billion in 2024 to USD 39.8 billion by 2029.
- U.S.: The United States data analytics market size was valued at USD 23.76 billion in 2024 and is estimated to reach USD 228.60 billion by 2033, exhibiting a CAGR of 25.10% from 2025-2033. It generated a revenue of USD 14,720.6 million in 2024 and is expected to reach USD 43,519.5 million by 2030.

AI Generated Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Mastech Digital (MHH) over the next 2-3 years:

Expansion of Digital Transformation Services, particularly Data & Analytics and AI-led solutions: Mastech Digital has been making significant investments in its Data and Analytics Services segment, which has demonstrated strong growth (e.g., 11% in Q1 2025, 26.2% in Q4 2024, and 17% in Q3 2024). The company is strategically focusing on AI-driven transformations and has expanded its partnership with Informatica to deliver AI-led solutions in the cloud data management and analytics market.
Expansion into Engineering Staffing Services: Mastech Digital entered the Engineering Staffing Services (ESS) business in May 2023. This expansion aims to position the company as a key provider of engineering talent across various industries, including Manufacturing, Automobiles, Aerospace, Architecture, Energy, Bio-medical, Telecommunications, and Infrastructure.
Growth in IT Staffing Services with a focus on Digital Technologies and higher bill rates: While maintaining its IT staffing services, Mastech Digital is increasing its focus on staffing for digital technologies. The IT Staffing Services segment has shown growth, with increases of 2% in Q1 2025, 6.8% in Q4 2024, and 7% in Q3 2024. The company has also emphasized achieving higher bill rates and improved margins in this segment.
Deepening engagement with key client accounts, especially in the Banking and Financial Services sector: Mastech Digital is focused on enhancing its relationships with top client accounts, particularly within the Banking and Financial Services sector, to strengthen its position in strategic client portfolios.
Geographic Expansion: The company's future plans include increasing its presence in international markets, with a particular emphasis on Europe and Asia.

AI Generated Analysis | Feedback

Share Repurchases

  Mastech Digital repurchased 16,511 shares in the second quarter of 2025 at an average price of $6.90 per share.
  A share repurchase program, authorized under a Rule 10b5-1 plan, was extended through February 8, 2026, allowing for the repurchase of up to 406,568 shares.
  Previously, on February 8, 2023, the company announced a share repurchase program authorizing the repurchase of up to 500,000 shares over two years.


Share Issuance

  In the first half of 2025, Mastech Digital granted 235,000 options in the second quarter and 702,358 options under the 2024 Inducement plan.
  Stock-based compensation expense for the six months ended June 30, 2025, amounted to $1.609 million.


Capital Expenditures

  Mastech Digital is making significant investments in data and analytics capabilities and plans to expand its service offerings to include engineering staffing services.
  The company is undertaking a strategic initiative in 2025 to transition finance and accounting functions to India, which is expected to result in annual cost savings of $1.2 million post-transition.
  Transition costs associated with the move of finance and accounting functions to India included estimated duplication/travel costs of $500,000-$750,000 and expected severance costs of approximately $1.3 million.

Better Bets than Mastech Digital (MHH)

	MHH	Better Performance than MHH
Metric	Value	INDUSTRY: Human Resource & Employment Services
Rev Chg LTM	5.2%	PCTY (13.3%), DAY (11.7%), PAYC (9.7%), ADP (7.1%), PAYX (5.6%)
Rev Chg 3Y Avg	-5.5%	PCTY (21.4%), DAY (16.7%), PAYC (16.0%), ADP (7.4%), PAYX (6.5%)
Op Mgn LTM	0.3%	PAYX (39.6%), PAYC (27.9%), ADP (26.2%), PCTY (19.1%), DAY (7.0%)
CFO/Rev LTM	3.8%	PAYX (34.1%), PAYC (32.1%), PCTY (25.2%), ADP (22.8%), DAY (14.5%)
FCF/Rev LTM	3.6%	PAYX (30.7%), PCTY (20.5%), ADP (20.1%), PAYC (19.5%), DAY (8.8%)
Total Yield	1.0%	KFY (8.0%), PAYX (6.8%), ADP (5.5%), PAYC (4.6%), PCTY (2.5%)
P/S	0.4	MAN (0.1), KELYA (0.1), TBI (0.1), NSP (0.3), KFRC (0.4)
P/Op Inc	124.4	PAYX (20.7), PAYC (20.9), ADP (21.7), PCTY (28.2), DAY (83.2)

	MHH	Better Performance than MHH
Metric	Value	SECTOR: Industrials
Rev Chg LTM	5.2%	UBER (18.2%), GE (17.7%), BA (10.2%), GEV (9.4%), RTX (8.8%)
Rev Chg 3Y Avg	-5.5%	UBER (19.6%), GE (15.7%), BA (10.1%), RTX (9.4%), CAT (5.8%)
Op Mgn LTM	0.3%	GE (20.5%), CAT (18.2%), RTX (10.3%), UBER (9.2%), GEV (3.7%)
CFO/Rev LTM	3.8%	UBER (18.1%), CAT (18.0%), GE (17.2%), RTX (9.3%), GEV (9.1%)
FCF/Rev LTM	3.6%	UBER (17.5%), GE (14.7%), CAT (12.3%), GEV (6.6%), RTX (5.5%)
Total Yield	1.0%	UBER (8.1%), CAT (6.7%), RTX (4.5%), GE (2.5%), GEV (1.1%)
P/S	0.4	AAL (0.1), CNXC (0.3), ABM (0.3), SEB (0.4), ALK (0.4)
P/Op Inc	124.4	CAT (15.8), RTX (25.5), GE (35.3), UBER (44.8), GEV (121.1)

	MHH	Better Performance than MHH
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	5.2%	NVDA (71.6%), MSFT (15.6%), GOOGL (13.4%), AMZN (10.9%), AAPL (6.0%)
Rev Chg 3Y Avg	-5.5%	NVDA (92.0%), MSFT (13.2%), AMZN (11.3%), GOOGL (11.0%), AAPL (1.8%)
Op Mgn LTM	0.3%	NVDA (58.1%), MSFT (46.3%), GOOGL (32.2%), AAPL (31.9%), AMZN (11.4%)
CFO/Rev LTM	3.8%	MSFT (50.0%), NVDA (46.6%), GOOGL (39.3%), AAPL (26.6%), AMZN (18.1%)
FCF/Rev LTM	3.6%	NVDA (43.6%), AVGO (41.6%), MSFT (26.6%), AAPL (23.5%), GOOGL (19.1%)
Total Yield	1.0%	GOOGL (4.6%), MSFT (3.4%), AMZN (3.0%), AAPL (3.0%), NVDA (2.3%)
P/S	0.4	CVS (0.2), MCK (0.2), CI (0.3), GM (0.3), ELV (0.4)
P/Op Inc	124.4	GOOGL (23.7), MSFT (28.3), AAPL (29.1), AMZN (30.7), NVDA (40.1)

		Best Bets In Industrials Sector
	MHH
What You Pay
P/E	97.2
P/EBIT	124.4
What You Get
Rev Chg Q	-0.9%
Rev Chg LTM	5.2%
Rev Chg 3Y Avg	-5.5%
FCF/Rev 3Y Avg	5.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Can Mastech Digital Stock Hold Up When Markets Turn?	Return

	Title
0	ARTICLES

Trade Ideas

Select past ideas related to MHH. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.3%	7.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.3%	2.3%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	2.2%	2.2%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	7.3%	7.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	2.3%	2.3%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.8%	4.8%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	1.6%	1.6%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	2.2%	2.2%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
OLMA	Olema Pharmaceuticals	2.3	223.6%	367.4%
COGT	Cogent Biosciences	5.4	152.6%	402.1%
CDTX	Cidara Therapeutics	5.9	115.1%	722.1%
IRWD	Ironwood Pharmaceuticals	0.6	100.5%	-15.8%
TERN	Terns Pharmaceuticals	2.5	95.9%	396.2%
FRGE	Forge Global	0.6	90.3%	217.8%
SGML	Sigma Lithium	1.1	87.3%	-10.6%
INSP	Inspire Medical Systems	4.0	82.8%	-27.3%
NPCE	NeuroPace	0.6	77.2%	48.9%
ALMS	Alumis	0.6	71.9%	-0.3%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
UP	Wheels Up Experience	0.4	-52.7%	-62.4%
CCOI	Cogent Communications	0.9	-51.9%	-72.9%
SMR	NuScale Power	3.0	-50.7%	12.3%
FRMI	Fermi	10.3	-47.5%
AMSC	American Superconductor	1.4	-47.2%	30.1%
TLRY	Tilray Brands	7.5	-46.1%	-46.9%
BTDR	Bitdeer Technologies	2.4	-44.8%	-41.8%
EXOD	Exodus Movement	0.4	-43.1%	-53.3%
STUB	Stubhub	3.5	-39.8%
METC	Ramaco Resources	1.0	-39.4%	66.9%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MPLT	MapLight Therapeutics	0.7	31.3%
AEVA	Aeva Technologies	0.8	25.7%	188.2%
DC	Dakota Gold	0.6	19.7%	150.9%
SERV	Serve Robotics	0.7	18.2%	-12.6%
ACDC	ProFrac	0.7	17.6%	-45.0%
HY	Hyster Yale	0.6	15.6%	-29.9%
AEO	American Eagle Outfitters	4.1	15.1%	49.7%
BEAM	Beam Therapeutics	2.7	14.4%	7.8%
GOSS	Gossamer Bio	0.8	14.4%	278.1%
FTRE	Fortrea	1.3	14.4%	-21.8%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
PSTG	Pure Storage	22.6	-27.3%	12.1%
GTLB	GitLab	6.3	-12.8%	-32.9%
CTEV	Claritev	0.7	-11.3%
FBYD	Falcons Beyond Global	0.7	-11.2%	131.2%
ACHC	Acadia Healthcare	1.3	-10.9%	-63.0%
ULS	UL Solutions	16.0	-10.7%	60.4%
HPK	HighPeak Energy	0.7	-10.6%	-59.8%
OS	OneStream	3.5	-10.4%	-35.0%
ARE	Alexandria Real Estate Equities	8.2	-10.1%	-47.9%
THO	Thor Industries	5.3	-9.5%	6.6%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
HPP	Hudson Pacific Properties	6.3	641.5%	-34.3%
TLRY	Tilray Brands	7.5	618.1%	-46.9%
TMC	TMC The Metals	2.8	42.2%	589.3%
VERA	Vera Therapeutics	2.6	40.2%	-2.4%
ARWR	Arrowhead Pharmaceuticals	9.0	39.1%	246.1%
TE	T1 Energy	0.7	37.4%
MPLT	MapLight Therapeutics	0.7	32.1%
AEVA	Aeva Technologies	0.8	31.1%	188.2%
AMKR	Amkor Technology	10.9	30.2%	73.4%
DC	Dakota Gold	0.6	30.2%	150.9%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
JANX	Janux Therapeutics	1.1	-50.7%	-68.0%
VTYX	Ventyx Biosciences	0.6	-25.0%	258.0%
CTEV	Claritev	0.7	-23.5%
AMBA	Ambarella	3.0	-22.9%	-3.6%
FULC	Fulcrum Therapeutics	0.6	-21.5%	92.8%
PD	PagerDuty	1.1	-20.5%	-33.9%
NTNX	Nutanix	12.7	-19.3%	-22.4%
CNK	Cinemark	2.6	-18.0%	-25.2%
PSTG	Pure Storage	22.6	-17.2%	12.1%
ZS	Zscaler	38.1	-15.9%	35.1%

Peer Comparisons for Mastech Digital

Peers to compare with:

Financials

	MHH	PAYX	BBSI	JOB	ADP	DAY	Median
Name	Mastech .	Paychex	Barrett .	GEE	Automati.	Dayforce
Mkt Price	7.80	113.39	35.48	0.19	260.22	69.10	52.29
Mkt Cap	0.1	40.9	0.9	0.0	105.4	11.0	6.0
Rev LTM	200	5,572	1,224	111	20,903	1,893	1,559
Op Inc LTM	1	2,208	64	-4	5,472	132	98
FCF LTM	7	1,709	27	-1	4,210	166	96
FCF 3Y Avg	11	1,670	18	2	3,846	133	76
CFO LTM	8	1,901	43	-1	4,758	274	159
CFO 3Y Avg	11	1,835	33	2	4,410	245	139

Growth & Margins

	MHH	PAYX	BBSI	JOB	ADP	DAY	Median
Name	Mastech .	Paychex	Barrett .	GEE	Automati.	Dayforce
Rev Chg LTM	5.2%	5.6%	9.6%	-5.8%	7.1%	11.7%	6.3%
Rev Chg 3Y Avg	-5.5%	6.5%	5.7%	-11.8%	7.4%	16.7%	6.1%
Rev Chg Q	-0.9%	10.2%	8.4%	-9.3%	7.1%	9.5%	7.7%
QoQ Delta Rev Chg LTM	-0.2%	2.4%	2.1%	-2.2%	1.7%	2.2%	1.9%
Op Mgn LTM	0.3%	39.6%	5.3%	-3.8%	26.2%	7.0%	6.1%
Op Mgn 3Y Avg	0.9%	40.5%	5.3%	-2.3%	25.8%	6.8%	6.0%
QoQ Delta Op Mgn LTM	-0.8%	-1.9%	0.0%	0.6%	-0.1%	0.4%	-0.1%
CFO/Rev LTM	3.8%	34.1%	3.5%	-0.5%	22.8%	14.5%	9.2%
CFO/Rev 3Y Avg	5.2%	34.7%	2.9%	1.3%	22.5%	14.5%	9.9%
FCF/Rev LTM	3.6%	30.7%	2.2%	-0.5%	20.1%	8.8%	6.2%
FCF/Rev 3Y Avg	5.0%	31.6%	1.6%	1.2%	19.6%	7.7%	6.3%

Valuation

	MHH	PAYX	BBSI	JOB	ADP	DAY	Median
Name	Mastech .	Paychex	Barrett .	GEE	Automati.	Dayforce
Mkt Cap	0.1	40.9	0.9	0.0	105.4	11.0	6.0
P/S	0.4	8.2	0.9	0.2	5.7	5.8	3.3
P/EBIT	124.4	20.0	15.4	-0.8	20.4	-168.1	17.7
P/E	97.2	27.6	20.8	-0.6	28.7	-73.5	24.2
P/CFO	11.0	24.0	26.4	-38.1	25.0	40.1	24.5
Total Yield	1.0%	6.8%	5.2%	-169.5%	5.5%	-1.4%	3.1%
Dividend Yield	0.0%	3.2%	0.4%	0.0%	2.1%	0.0%	0.2%
FCF Yield 3Y Avg	10.4%	3.7%	2.3%	3.4%	3.5%	1.3%	3.4%
D/E	0.0	0.1	0.0	0.2	0.1	0.1	0.1
Net D/E	-0.3	0.1	-0.1	-0.7	0.0	0.1	-0.0

Returns

	MHH	PAYX	BBSI	JOB	ADP	DAY	Median
Name	Mastech .	Paychex	Barrett .	GEE	Automati.	Dayforce
1M Rtn	9.1%	-0.5%	-12.4%	-0.8%	1.2%	0.6%	0.0%
3M Rtn	-0.4%	-15.6%	-26.7%	-1.2%	-12.5%	-0.6%	-6.9%
6M Rtn	20.6%	-27.6%	-14.8%	-2.4%	-19.4%	15.4%	-8.6%
12M Rtn	-50.0%	-19.1%	-17.4%	-25.7%	-12.5%	-14.2%	-18.2%
3Y Rtn	-44.0%	-1.4%	47.0%	-75.9%	2.8%	-0.9%	-1.2%
1M Excs Rtn	9.1%	-0.5%	-12.4%	-0.7%	1.2%	0.6%	0.1%
3M Excs Rtn	-6.7%	-22.0%	-33.0%	-5.7%	-18.5%	-6.0%	-12.6%
6M Excs Rtn	5.8%	-42.3%	-29.6%	-17.1%	-34.1%	0.6%	-23.3%
12M Excs Rtn	-62.9%	-33.6%	-30.2%	-38.1%	-27.0%	-27.2%	-31.9%
3Y Excs Rtn	-118.4%	-69.7%	-22.4%	-147.7%	-65.4%	-66.3%	-68.0%

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	6/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	8/13/2025	3/14/2025	3/15/2024	3/27/2023	3/14/2022	3/16/2021	3/30/2020
Key Financials
Total Revenue	200	199	201	242	222	194	194
EBITDA	4	7	3	16	19	17	14
Operating Income	1	4	-1	12	15	13	11
Net Income	1	3	-7	9	12	10	11
EPS	0.08	0.29	-0.61	0.75	1.07	0.87	1.01
Growth Rates
Total Revenue Growth	5.2%	-1.1%	-17.0%	9.1%	14.4%	0.3%	9.3%
EBITDA Growth	24.8%	144.6%	-81.8%	-12.4%	10.1%	18.4%	6.4%
Operating Income Growth	273.0%	533.3%	-107.2%	-17.2%	9.9%	22.8%	5.9%
Net Income Growth	121.7%	147.7%	-181.9%	-28.7%	23.9%	-11.5%	66.6%
Margins
EBITDA Margin	2.0%	3.7%	1.5%	6.8%	8.4%	8.8%	7.4%
Operating Income Margin	0.3%	1.9%	-0.4%	5.0%	6.6%	6.9%	5.6%
Net Income Margin	0.4%	1.7%	-3.5%	3.6%	5.5%	5.1%	5.8%
Cash & Debt
Total Cash	28	28	21	7	7	8	3
Total Debt	3	4	5	5	18	21	30
Net Debt / (Cash)	-25	-24	-16	-2	12	13	27
Cash Flows
Net Cash from Operations	8	7	16	13	5	21	16
Free Cash from Operations	7	6	16	12	3	21	15
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	0	0	1	-0	-0	-0	0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/13/2025	5/15/2025	3/14/2025	11/13/2024	8/12/2024	5/13/2024	3/15/2024	11/13/2023	8/10/2023	5/12/2023	3/27/2023	11/14/2022
Key Financials Quarterly
Total Revenue	49	48	51	52	50	47	46	48	52	55	57	63
Ebitda	1	-1	1	3	3	0	-1	1	1	2	3	4
Operating Income	0	-2	0	2	2	-0	-2	-0	0	1	2	3
Net Income	0	-1	0	2	1	-0	-5	0	-2	0	2	2
EPS	0.01	-0.12	0.03	0.16	0.12	-0.01	-0.46	0.01	-0.19	0.02	0.13	0.21
Key Financials TTM
Total Revenue TTM	200	200	199	194	190	193	201	212	228	238	242	244
Ebitda TTM	4	6	7	6	3	2	3	7	10	14	16	19
Operating Income TTM	1	2	4	2	-0	-2	-1	3	6	9	12	15
Net Income TTM	1	2	3	-2	-4	-8	-7	-0	2	7	9	11
Growth Rates Quarterly
Total Revenue Growth	-0.9%	3.2%	10.2%	8.5%	-5.1%	-15.0%	-19.5%	-24.3%	-16.0%	-7.9%	-3.1%	6.1%
EBITDA Growth	-66.6%	-307.5%	224.5%	280.6%	102.5%	-68.2%	-124.5%	-80.6%	-72.4%	-64.3%	-47.2%	-24.9%
Operating Income Growth	-98.4%	-356.4%	104.0%	5077.6%	522.4%	-176.3%	-182.0%	-101.5%	-92.3%	-83.9%	-56.4%	-32.5%
Net Income Growth	-90.3%	-793.8%	105.6%	1400.0%	164.0%	-161.7%	-447.9%	-94.8%	-189.2%	-88.8%	-60.4%	-29.4%
Margins Quarterly
EBITDA Margin	1.8%	-2.1%	1.8%	6.4%	5.2%	1.1%	-1.6%	1.8%	2.5%	2.8%	5.1%	7.1%
Operating Income Margin	0.1%	-3.8%	0.1%	4.7%	3.4%	-0.9%	-3.5%	-0.1%	0.5%	1.0%	3.5%	5.3%
Net Income Margin	0.3%	-3.0%	0.6%	3.6%	2.8%	-0.3%	-11.6%	0.3%	-4.2%	0.5%	2.7%	3.8%
Cash & Debt
Total Cash	28	25	28	24	21	19	21	16	19	9	7	3
Total Debt	3	3	4	4	4	5	5	4	3	3	5	6
Net Debt / (Cash)	-25	-21	-24	-20	-16	-15	-16	-12	-16	-6	-2	3
Cash Flows Quarterly
FCF from Operations	3	-3	4	3	1	-1	5	-3	10	3	5	6
Cash Flows TTM
FCF from Operations TTM	8	6	7	9	3	12	16	15	24	14	13	11
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	-0	-0	-0	-0	0	0	-0	1	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	2.0%	-93.6%	8.7%	112.0%	55.6%	-9.3%	-62.1%	-1.3%	11.5%	6.6%	26.8%	38.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	12.5%	26.1%	106.4%	26.6%	-3.2%	-14.1%	-8.5%	22.5%	50.7%	36.9%	42.3%	41.7%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
IT Staffing Services	167	202	184	164	167
Data and Analytics Services	34	41	38	30	27
Total	201	242	222	194	194

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
IT Staffing Services	6	13	13	11	8
Cybersecurity breach	0	-0	0
Data and Analytics Services	-2	3	5	5	5
Severance expense	-2	-1	0
Amortization of acquired intangible assets	-3	-3	-3	-3	-3
Employment-related claim, net of recoveries	-3	0	0
Goodwill impairment	-5	0	0
Acquisition transaction expenses			-0	-1	0
Revaluation of contingent consideration liability			3		6
Total	-9	12	18	13	17

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
IT Staffing Services	60	54	57	46	49
Data and Analytics Services	46	55	57	56	42
Total	105	109	114	102	91

Price Behavior

Price Behavior

Market Price	$7.80
Market Cap ($ Bil)	0.1
First Trading Date	10/01/2008
Distance from 52W High	-50.0%
	50 Days	200 Days
DMA Price	$7.25	$7.92
DMA Trend	down	down
Distance from DMA	7.6%	-1.5%
	3M	1YR
Volatility	42.3%	64.0%
Downside Capture	100.02	101.34
Upside Capture	70.08	19.21
Correlation (SPY)	11.6%	30.3%

MHH Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.45	0.40	0.35	0.29	0.98	0.65
Up Beta	-1.67	-0.83	-0.65	-0.41	1.14	0.67
Down Beta	-1.31	0.22	0.34	-0.14	1.24	0.83
Up Capture	203%	81%	41%	51%	14%	12%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	10	17	26	62	119	353
Down Capture	76%	74%	78%	87%	101%	89%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	24	36	60	124	378

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

		Comparison of MHH With Other Asset Classes (Last 1Y)
	MHH	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-47.7%	8.9%	15.3%	58.9%	4.6%	-5.8%	-3.1%
Annualized Volatility	63.9%	18.9%	19.7%	19.4%	15.9%	17.8%	35.7%
Sharpe Ratio	-0.76	0.32	0.60	2.26	0.09	-0.48	0.04
Correlation With Other Assets		25.8%	30.5%	2.4%	7.9%	22.1%	8.3%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of MHH With Other Asset Classes (Last 5Y)
	MHH	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-16.0%	13.1%	15.0%	17.9%	11.9%	4.9%	37.1%
Annualized Volatility	52.2%	17.2%	17.1%	15.5%	18.9%	19.0%	49.1%
Sharpe Ratio	-0.14	0.61	0.71	0.93	0.52	0.17	0.64
Correlation With Other Assets		17.7%	19.0%	4.1%	6.9%	13.2%	7.7%

Based On 10-Year Data

		Comparison of MHH With Other Asset Classes (Last 10Y)
	MHH	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	7.1%	12.8%	14.5%	14.2%	5.6%	5.4%	76.3%
Annualized Volatility	58.0%	19.9%	18.0%	14.8%	17.7%	20.9%	55.9%
Sharpe Ratio	0.36	0.57	0.69	0.79	0.25	0.23	0.95
Correlation With Other Assets		24.2%	24.5%	3.2%	12.4%	23.1%	4.2%

Short Interest

Short Interest: As Of Date	11142025
Short Interest: Shares Quantity	13,996
Short Interest: % Change Since 10312025	-50.2%
Average Daily Volume	19,394
Days-to-Cover Short Interest	1
Basic Shares Quantity	11,767,000
Short % of Basic Shares	0.1%

Returns Analyses

	Title
0	Can Mastech Digital Stock Hold Up When Markets Turn?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
6302025	8132025	10-Q 6/30/2025
3312025	5152025	10-Q 3/31/2025
12312024	3142025	10-K 12/31/2024
9302024	11132024	10-Q 9/30/2024
6302024	8122024	10-Q 6/30/2024
3312024	5132024	10-Q 3/31/2024
12312023	3152024	10-K 12/31/2023
9302023	11132023	10-Q 9/30/2023
6302023	8102023	10-Q 6/30/2023
3312023	5122023	10-Q 3/31/2023
12312022	3272023	10-K 12/31/2022
9302022	11142022	10-Q 9/30/2022
6302022	8152022	10-Q 6/30/2022
3312022	5112022	10-Q 3/31/2022
12312021	3142022	10-K 12/31/2021
9302021	11082021	10-Q 9/30/2021

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Mastech Digital (MHH)

Market Price (12/4/2025): $7.8 | Market Cap: $91.8 MilSector: Industrials | Industry: Human Resource & Employment Services

Mastech Digital (MHH)

Market Price (12/4/2025): $7.8Market Cap: $91.8 MilSector: IndustrialsIndustry: Human Resource & Employment Services

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Market Price (12/4/2025): $7.8 | Market Cap: $91.8 Mil
Sector: Industrials | Industry: Human Resource & Employment Services

Market Price (12/4/2025): $7.8
Market Cap: $91.8 Mil
Sector: Industrials
Industry: Human Resource & Employment Services