Mastech Digital (MHH)
Market Price (6/19/2026): $7.61 | Market Cap: $90.0 MilSector: Industrials | Industry: Human Resource & Employment Services
Mastech Digital (MHH)
Market Price (6/19/2026): $7.61Market Cap: $90.0 MilSector: IndustrialsIndustry: Human Resource & Employment Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -35% Attractive yieldFCF Yield is 12% Megatrend and thematic driversMegatrends include Artificial Intelligence, Cloud Computing, and Cybersecurity. Themes include AI Software Platforms, Show more. | Weak multi-year price returns2Y Excs Rtn is -40%, 3Y Excs Rtn is -98% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 47x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.7%, Rev Chg QQuarterly Revenue Change % is -15% Key risksMHH key risks include [1] the lack of a strong economic moat in a highly competitive market and [2] a heavy reliance on a limited number of large clients. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -35% |
| Attractive yieldFCF Yield is 12% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Cloud Computing, and Cybersecurity. Themes include AI Software Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -40%, 3Y Excs Rtn is -98% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 47x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.1%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.7%, Rev Chg QQuarterly Revenue Change % is -15% |
| Key risksMHH key risks include [1] the lack of a strong economic moat in a highly competitive market and [2] a heavy reliance on a limited number of large clients. |
Qualitative Assessment
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Updated on 6/16/2026
Mastech Digital (MHH) stock has gained about 25% since 2/28/2026 because of the following key factors:
1. Strategic Realignment Towards AI-First Services: Mastech Digital announced a strategic shift to an "AI-first services organization" and realigned its business into "Talent" and "Data & AI" segments, effective from fiscal Q1 2026. This transformation is supported by redeploying an estimated $2 million per quarter in cost savings from its EDGE initiative to enhance AI capabilities, aiming for higher-margin services and competitive differentiation.
2. New Share Repurchase Program and Strong Liquidity: The company's Board of Directors authorized a new share repurchase program of up to $5.0 million, effective February 16, 2026, indicating management's confidence in the company's valuation. This initiative is backed by strong liquidity, with Mastech Digital reporting $54.9 million as of March 31, 2026 (fiscal Q1 2026), including $33.6 million in cash and no bank debt.
Show more
Mastech Digital (MHH) stock has gained about 25% since 2/28/2026 because of the following key factors:
1. Strategic Realignment Towards AI-First Services: Mastech Digital announced a strategic shift to an "AI-first services organization" and realigned its business into "Talent" and "Data & AI" segments, effective from fiscal Q1 2026. This transformation is supported by redeploying an estimated $2 million per quarter in cost savings from its EDGE initiative to enhance AI capabilities, aiming for higher-margin services and competitive differentiation.
2. New Share Repurchase Program and Strong Liquidity: The company's Board of Directors authorized a new share repurchase program of up to $5.0 million, effective February 16, 2026, indicating management's confidence in the company's valuation. This initiative is backed by strong liquidity, with Mastech Digital reporting $54.9 million as of March 31, 2026 (fiscal Q1 2026), including $33.6 million in cash and no bank debt.
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Updated on 6/16/2026
Mastech Digital (MHH) stock has gained about 25% since 2/28/2026 because of the following key factors:
1. Strategic Realignment Towards AI-First Services: Mastech Digital announced a strategic shift to an "AI-first services organization" and realigned its business into "Talent" and "Data & AI" segments, effective from fiscal Q1 2026. This transformation is supported by redeploying an estimated $2 million per quarter in cost savings from its EDGE initiative to enhance AI capabilities, aiming for higher-margin services and competitive differentiation.
2. New Share Repurchase Program and Strong Liquidity: The company's Board of Directors authorized a new share repurchase program of up to $5.0 million, effective February 16, 2026, indicating management's confidence in the company's valuation. This initiative is backed by strong liquidity, with Mastech Digital reporting $54.9 million as of March 31, 2026 (fiscal Q1 2026), including $33.6 million in cash and no bank debt.
3. Significant Increase in New Bookings: Despite a 15% year-over-year decrease in total consolidated revenues during fiscal Q1 2026, the company experienced a notable increase in new bookings Total Contract Value (TCV), reaching $7.0 million. This marks a substantial rise from $3.7 million in fiscal Q1 2025, suggesting a positive outlook for future revenue generation, particularly within its strategic Data & AI segment.
4. Resilient Market Reaction to Fiscal Q1 2026 Earnings: Despite Mastech Digital missing analyst earnings per share (EPS) estimates for fiscal Q1 2026 by approximately 31.25% (reporting $0.11 EPS against an estimated $0.16) on May 15, 2026, the stock price showed resilience, rising by 1.85%. This indicates that investors likely focused on other positive company-specific developments, such as the strategic transformation and growth in new bookings, rather than solely on the earnings miss.
Show less
Mastech Digital (MHH) stock has gained about 25% since 2/28/2026 because of the following key factors:
1. Strategic Realignment Towards AI-First Services: Mastech Digital announced a strategic shift to an "AI-first services organization" and realigned its business into "Talent" and "Data & AI" segments, effective from fiscal Q1 2026. This transformation is supported by redeploying an estimated $2 million per quarter in cost savings from its EDGE initiative to enhance AI capabilities, aiming for higher-margin services and competitive differentiation.
2. New Share Repurchase Program and Strong Liquidity: The company's Board of Directors authorized a new share repurchase program of up to $5.0 million, effective February 16, 2026, indicating management's confidence in the company's valuation. This initiative is backed by strong liquidity, with Mastech Digital reporting $54.9 million as of March 31, 2026 (fiscal Q1 2026), including $33.6 million in cash and no bank debt.
3. Significant Increase in New Bookings: Despite a 15% year-over-year decrease in total consolidated revenues during fiscal Q1 2026, the company experienced a notable increase in new bookings Total Contract Value (TCV), reaching $7.0 million. This marks a substantial rise from $3.7 million in fiscal Q1 2025, suggesting a positive outlook for future revenue generation, particularly within its strategic Data & AI segment.
4. Resilient Market Reaction to Fiscal Q1 2026 Earnings: Despite Mastech Digital missing analyst earnings per share (EPS) estimates for fiscal Q1 2026 by approximately 31.25% (reporting $0.11 EPS against an estimated $0.16) on May 15, 2026, the stock price showed resilience, rising by 1.85%. This indicates that investors likely focused on other positive company-specific developments, such as the strategic transformation and growth in new bookings, rather than solely on the earnings miss.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 26.3% change in MHH stock from 2/28/2026 to 6/18/2026 was primarily driven by a 35.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.01 | 7.59 | 26.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 197 | 184 | -6.4% |
| P/S Multiple | 0.4 | 0.5 | 35.6% |
| Shares Outstanding (Mil) | 12 | 12 | -0.6% |
| Cumulative Contribution | 26.3% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| MHH | 26.3% | |
| Market (SPY) | 9.2% | 18.2% |
| Sector (XLI) | 2.4% | 12.3% |
Fundamental Drivers
The -3.7% change in MHH stock from 11/30/2025 to 6/18/2026 was primarily driven by a -6.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.88 | 7.59 | -3.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 197 | 184 | -6.4% |
| P/S Multiple | 0.5 | 0.5 | 3.4% |
| Shares Outstanding (Mil) | 12 | 12 | -0.6% |
| Cumulative Contribution | -3.7% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| MHH | -3.7% | |
| Market (SPY) | 9.9% | 8.5% |
| Sector (XLI) | 18.4% | 3.7% |
Fundamental Drivers
The -2.7% change in MHH stock from 5/31/2025 to 6/18/2026 was primarily driven by a -10.0% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.80 | 7.59 | -2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 200 | 184 | -8.1% |
| Net Income Margin (%) | 1.1% | 1.3% | 18.5% |
| P/E Multiple | 43.2 | 38.8 | -10.0% |
| Shares Outstanding (Mil) | 12 | 12 | -0.6% |
| Cumulative Contribution | -2.7% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| MHH | -2.7% | |
| Market (SPY) | 28.1% | 8.7% |
| Sector (XLI) | 28.4% | 7.4% |
Fundamental Drivers
The -29.0% change in MHH stock from 5/31/2023 to 6/18/2026 was primarily driven by a -55.1% change in the company's Net Income Margin (%).| (LTM values as of) | 5312023 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 10.69 | 7.59 | -29.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 238 | 184 | -22.5% |
| Net Income Margin (%) | 2.8% | 1.3% | -55.1% |
| P/E Multiple | 18.7 | 38.8 | 107.3% |
| Shares Outstanding (Mil) | 12 | 12 | -1.6% |
| Cumulative Contribution | -29.0% |
Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| MHH | -29.0% | |
| Market (SPY) | 85.7% | 15.5% |
| Sector (XLI) | 95.3% | 12.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MHH Return | 7% | -36% | -23% | 77% | -53% | 10% | -52% |
| Peers Return | 92% | -38% | 11% | -2% | -44% | 1% | -26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| MHH Win Rate | 33% | 42% | 42% | 58% | 33% | 33% | |
| Peers Win Rate | 70% | 38% | 47% | 45% | 38% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MHH Max Drawdown | -26% | -48% | -43% | -20% | -59% | -26% | |
| Peers Max Drawdown | -18% | -54% | -32% | -33% | -58% | -40% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: KFRC, RHI, MAN, GDYN, EPAM.
[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] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | MHH | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.8% | -9.5% |
| % Gain to Breakeven | 34.8% | 10.5% |
| Time to Breakeven | 283 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.0% | -6.7% |
| % Gain to Breakeven | 51.5% | 7.1% |
| Time to Breakeven | 564 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -55.8% | -33.7% |
| % Gain to Breakeven | 126.4% | 50.9% |
| Time to Breakeven | 54 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.5% | -19.2% |
| % Gain to Breakeven | 38.0% | 23.8% |
| Time to Breakeven | 355 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.5% | -3.7% |
| % Gain to Breakeven | 29.1% | 3.9% |
| Time to Breakeven | 152 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -15.1% | -12.2% |
| % Gain to Breakeven | 17.7% | 13.9% |
| Time to Breakeven | 12 days | 62 days |
In The Past
Mastech Digital's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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| Event | MHH | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.8% | -9.5% |
| % Gain to Breakeven | 34.8% | 10.5% |
| Time to Breakeven | 283 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.0% | -6.7% |
| % Gain to Breakeven | 51.5% | 7.1% |
| Time to Breakeven | 564 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -55.8% | -33.7% |
| % Gain to Breakeven | 126.4% | 50.9% |
| Time to Breakeven | 54 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.5% | -19.2% |
| % Gain to Breakeven | 38.0% | 23.8% |
| Time to Breakeven | 355 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -22.5% | -3.7% |
| % Gain to Breakeven | 29.1% | 3.9% |
| Time to Breakeven | 152 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -43.6% | -6.8% |
| % Gain to Breakeven | 77.3% | 7.3% |
| Time to Breakeven | 612 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -25.7% | -17.9% |
| % Gain to Breakeven | 34.6% | 21.8% |
| Time to Breakeven | 14 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -29.4% | -15.4% |
| % Gain to Breakeven | 41.7% | 18.2% |
| Time to Breakeven | 217 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -86.2% | -53.4% |
| % Gain to Breakeven | 623.9% | 114.4% |
| Time to Breakeven | 1475 days | 1085 days |
In The Past
Mastech Digital's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Mastech Digital (MHH)
Mastech Digital, Inc. (MHH) is an IT services company based in the United States that specializes in facilitating digital transformation for businesses. The company operates through two primary segments: Data and Analytics Services, and IT Staffing Services, both aimed at helping clients modernize their technology infrastructure and processes.
Through its Data and Analytics Services segment, Mastech Digital provides project-based consulting in critical areas such as master data management, enterprise data integration, big data analytics, and broader digital transformation initiatives, leveraging both domestic and international resources. Concurrently, the IT Staffing Services segment supplies skilled IT professionals across a wide array of technology domains, including cloud computing, data management, enterprise resource planning (ERP), business intelligence, and e-business solutions. They also offer specialized digital transformation services like digital learning and cloud-based enterprise application implementation for sales, marketing, and customer service.
Mastech Digital serves a diverse client base, encompassing large, medium-sized, and small companies throughout the United States. Its expertise is applied across numerous industry verticals, including financial services, government, healthcare, manufacturing, retail, technology, telecommunications, and transportation, addressing specific digital challenges within each sector.
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Like Cognizant or Wipro, but sharply focused on data analytics and providing IT staffing for digital transformations.
A more project-oriented Robert Half Technology, with strong expertise in digital transformation consulting.
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- Data Management and Analytics Consulting: Offers project-based consulting services for master data management, enterprise data integration, big data, and analytics.
- IT Staffing Services: Provides a range of IT professionals across various domains including cloud, mobility, and enterprise applications.
- Digital Learning Services: Delivers educational programs designed to facilitate digital transformation initiatives.
- Cloud-based Enterprise Application Services: Implements and manages cloud applications across sales, marketing, and customer service organizations.
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Mastech Digital (symbol: MHH) primarily provides digital transformation IT services to other companies, including large, medium-sized, and small companies in the United States.
Based on the company's public filings, no single customer accounted for 10% or more of its consolidated revenues in recent fiscal years. Therefore, specific names of major customer companies are not publicly disclosed.
Mastech Digital serves a diverse client base across various industry verticals, including:
- Financial services
- Government
- Healthcare
- Manufacturing
- Retail
- Technology
- Telecommunications
- Transportation
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Nirav Patel, President and Chief Executive Officer
Nirav Patel joined Mastech Digital as President and Chief Executive Officer and a member of the Board of Directors on January 6, 2025. He is leading the company's strategic shift toward a Data and AI-focused services model. With over two decades of experience as a technology executive, Mr. Patel has a proven track record of scaling multibillion-dollar businesses. Before joining Mastech Digital, he served as President and CEO of Bristlecone, a Mahindra Group company specializing in digital supply chain transformation, where he transformed it into the industry's largest pure-play supply chain services provider. Prior to Bristlecone, he was Senior Vice President and Global Markets Leader at Cognizant, where he expanded the Communications, Media, and Technology business to over $2 billion in annual revenue. Mr. Patel holds a bachelor's degree in computer science from BIST, Madras University, and is an alumnus of Harvard Business School's Advanced Management Program.
Kannan Sugantharaman, Chief Financial and Operations Officer
Kannan Sugantharaman is the Chief Financial and Operations Officer (CFO & COO) at Mastech Digital, having joined the company in April 2025. He is instrumental in driving financial discipline and operational excellence within the organization. Mr. Sugantharaman's responsibilities include overseeing the company's financial results and strategic financial initiatives, such as the share repurchase program announced in February 2026.
Ashok Kumar Trivedi, Co-Founder and Co-Chairman
Ashok Kumar Trivedi is a Co-Founder and Co-Chairman of Mastech Digital. He is recognized as a seasoned entrepreneur and a visionary thinker. Mr. Trivedi co-founded Mastech (originally Mastech Holdings, Inc.) in 1986 and remains one of the largest individual shareholders, holding approximately 27.02% of the company's stock.
Sunil Wadhwani, Co-Founder and Co-Chairman
Sunil Wadhwani is a Co-Founder and Co-Chairman of Mastech Digital. He co-founded Mastech (originally Mastech Holdings, Inc.) in 1986 and also previously served as the company's CEO.
Jitendra Putcha, Chief Delivery Officer
Jitendra Putcha serves as the Chief Delivery Officer for Mastech Digital. In this role, he leads the unified delivery function, integrating the strengths of the Data & Analytics and IT Staffing segments to enhance value delivery for clients.
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Here are the key risks to Mastech Digital (symbol: MHH):
- Challenging and Volatile Market Backdrop: Mastech Digital operates within a challenging and volatile market environment, characterized by ongoing client caution in technology spending and broader macroeconomic and geopolitical uncertainties. This backdrop has led to revenue declines in both the company's IT Staffing Services and Data and Analytics segments, and impacts client engagement and decision-making processes.
- High Reliance on IT Staffing Services and Intense Competition: Mastech Digital's revenue is heavily reliant on its IT Staffing Services segment, which constituted a significant portion of its Q3 2025 revenue. This dependence makes the company susceptible to macroeconomic hiring trends and shifts in client budgets. The IT services industry is highly competitive, with Mastech Digital positioned as a specialized player amidst larger, multi-billion-dollar firms, potentially limiting its ability to secure substantial enterprise deals. Furthermore, trends like insourcing by top customers have directly contributed to a decline in Mastech Digital's billable consultant base.
- Execution Risk of "AI-first" Transformation and Performance of Data and Analytics Segment: Mastech Digital is strategically focused on an "AI-first" transformation and has made significant investments in its Data and Analytics Services segment. However, this segment has experienced considerable year-over-year revenue declines, with a 24% decrease in Q4 2025, and faces challenges with slower client decision-making. The company's future growth largely depends on its successful execution of this AI-first strategy and the accelerated performance of this core segment, which has been identified as a significant challenge.
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The rapid advancement and adoption of artificial intelligence and automation technologies, particularly generative AI, which can increasingly automate tasks such as code generation, data pipeline creation, and data analysis, pose a clear emerging threat. This trend has the potential to significantly reduce the demand for human IT consultants and staff in areas like data management, analytics, and digital transformation, directly impacting Mastech Digital's core IT staffing and project-based consulting services by making human intervention less necessary.
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Mastech Digital (MHH) operates in several significant addressable markets. The estimated market sizes for its main products and services are as follows:
- IT Staffing Services: The U.S. IT staffing market was valued at approximately USD 113.81 billion in 2024 and is anticipated to reach USD 156.23 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.76% during the forecast period.
- Data and Analytics Services: The global data and analytics service market size was estimated at approximately USD 250 billion in 2023 and is projected to reach around USD 450 billion by 2032, with a CAGR of 6.7%.
- Digital Transformation Services: The United States digital transformation market size is estimated at USD 0.55 trillion in 2024 and is expected to reach USD 1.38 trillion by 2029, growing at a CAGR of 20.20%.
- Digital Learning Services: The U.S. e-learning services market generated a revenue of approximately USD 84.04 billion in 2024 and is expected to reach USD 208.62 billion by 2030, growing at a CAGR of 16.6% from 2025 to 2030.
- Cloud-based Enterprise Applications: The North America cloud-based apps market generated revenues of USD 198.1 billion in 2023.
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Mastech Digital (MHH) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market trends:
- Becoming an AI-First Services Company and Investing in Data & AI Capabilities: Mastech Digital is prioritizing becoming an "AI-first services company" and is increasing investments in Data and AI. The Data and Analytics segment specifically focuses on data modernization and consolidation to prepare clients for an AI-first environment. The company is expanding its data platform, including relationships with Google Cloud Platform (GCP), Snowflake, and Informatica, and establishing an industry solutions practice centered on AI-powered workflows.
- Strategic Shift in IT Staffing Towards Higher-Value Engagements and Pricing Discipline: In its IT Staffing Services segment, Mastech Digital is focusing on higher-value work and maintaining pricing discipline. This strategy has resulted in an increase in average bill rates, even with a decrease in billable consultant headcount, aiming to enhance revenue quality.
- Execution of the EDGE Initiative for Operational Efficiency and Reinvestment in Growth: The company launched its "EDGE" (Efficiencies Driving Growth and Expansion) initiative in Q3 2025. This program is designed to optimize the organization and operating model by focusing on higher revenue quality, process simplification, automation, and disciplined spend management. The efficiencies gained from EDGE are intended to be reinvested into strategic growth areas.
- Targeting Global 2000 Clients and Expanding within Key Industry Verticals: Mastech Digital's growth strategy for 2026 and 2027 includes a focus on specific industry verticals and a targeted approach to expanding engagement with Global 2000 clients.
- Growth in Data and Analytics Services Driven by Strong Bookings and Renewals: The Data and Analytics Services segment demonstrated strong bookings activity, increasing by nearly 37% year-over-year in Q4 2025, primarily due to robust renewals. This indicates positive momentum in securing new projects and retaining clients within this segment, which is expected to translate into future revenue growth.
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Share Repurchases
- A new share repurchase program of up to $5 million was authorized, effective February 16, 2026.
- In 2025, Mastech Digital repurchased 299,523 shares for approximately $2.2 million at an average price of $7.49 per share.
- In the fourth quarter of 2025, the company repurchased approximately $0.7 million in stock at an average price of $7.2 per share.
Share Issuance
- Mastech Digital filed a "universal shelf" registration statement, allowing for potential future offerings of up to $35.0 million in various securities, although there are no immediate plans to raise capital.
- The registration also includes provisions for the resale of 1,675,000 shares of common stock owned by co-founders, with no proceeds going to the company.
Outbound Investments
- Mastech Digital acquired AmberLeaf Partners for $14.0 million, with a cash payment of $9.5 million at closing and $4.5 million deferred.
- This acquisition aimed to enhance the Data and Analytics segment by integrating customer experience consulting capabilities and expanding service offerings.
Capital Expenditures
- Adjusted Capital Expenditures for Mastech Digital was -$182.0 thousand in 2025.
- Capital expenditures of $941K absorb a significant portion of operating cash flow.
- The company is investing in differentiated capabilities to become an AI-first services company in 2026, including bringing on senior AI management and vertical-specific salespeople.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Mastech Digital Earnings Notes | 12/16/2025 | |
| How Low Can Mastech Digital Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 32.57 |
| Mkt Cap | 1.2 |
| Rev LTM | 3,328 |
| Op Inc LTM | 62 |
| FCF LTM | 33 |
| FCF 3Y Avg | 51 |
| CFO LTM | 48 |
| CFO 3Y Avg | 87 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.4% |
| Rev Chg 3Y Avg | -4.7% |
| Rev Chg Q | 1.9% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | -20.9% |
| Op Inc Chg 3Y Avg | -11.6% |
| Op Mgn LTM | 1.3% |
| Op Mgn 3Y Avg | 2.6% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 5.5% |
| CFO/Rev 3Y Avg | 6.0% |
| FCF/Rev LTM | 4.9% |
| FCF/Rev 3Y Avg | 5.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| IT Staffing Services | 158 | 162 | 167 | 202 | 184 |
| Data and Analytics Services | 33 | 37 | 34 | 41 | 38 |
| Total | 191 | 199 | 201 | 242 | 222 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| IT Staffing Services | 8 | 5 | 6 | 13 | 13 |
| Cybersecurity breach | 0 | 0 | 0 | -0 | |
| Employment-related claim, net of recoveries | 0 | 0 | -3 | ||
| Goodwill impairment | 0 | 0 | -5 | ||
| Data and Analytics Services | -0 | 3 | -2 | 3 | 5 |
| Finance and accounting transition expense | -2 | ||||
| Amortization of acquired intangible assets | -3 | -3 | -3 | -3 | -3 |
| Severance expense | -3 | -2 | -2 | -1 | |
| Acquisition transaction expenses | 0 | -0 | |||
| Revaluation of contingent consideration liability | 0 | 3 | |||
| Total | 0 | 4 | -9 | 12 | 18 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| IT Staffing Services | 71 | 67 | 60 | 54 | 57 |
| Data and Analytics Services | 41 | 44 | 46 | 55 | 57 |
| Total | 112 | 111 | 105 | 109 | 114 |
Price Behavior
Price Behavior
| Market Price | $7.59 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 10/01/2008 | |
| Distance from 52W High | -7.2% | |
| 50 Days | 200 Days | |
| DMA Price | $6.74 | $6.92 |
| DMA Trend | down | up |
| Distance from DMA | 12.6% | 9.7% |
| 3M | 1YR | |
| Volatility | 77.4% | 59.4% |
| Downside Capture | 78.00 | 19.09 |
| Upside Capture | 145.00 | 29.42 |
| Correlation (SPY) | 22.7% | 8.9% |
MHH Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.40 | 0.60 | 0.55 | 0.15 | 0.22 | 0.58 |
| Up Beta | 1.10 | 0.57 | 0.12 | 0.74 | 0.28 | 0.66 |
| Down Beta | -4.85 | -1.30 | 0.08 | 0.01 | -0.08 | 0.84 |
| Up Capture | 41% | 74% | 72% | -25% | 7% | 6% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 10 | 22 | 30 | 58 | 120 | 354 |
| Down Capture | 301% | 133% | 100% | 32% | 61% | 77% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 18 | 32 | 65 | 125 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MHH | |
|---|---|---|---|---|
| MHH | 13.8% | 59.5% | 0.44 | - |
| Sector ETF (XLI) | 28.7% | 16.2% | 1.38 | 8.0% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 8.2% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 9.1% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -10.0% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 1.0% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 11.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MHH | |
|---|---|---|---|---|
| MHH | -13.5% | 55.2% | -0.06 | - |
| Sector ETF (XLI) | 13.5% | 17.5% | 0.61 | 14.1% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 16.8% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 4.8% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 3.0% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 10.6% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 8.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MHH | |
|---|---|---|---|---|
| MHH | 8.9% | 59.4% | 0.39 | - |
| Sector ETF (XLI) | 14.2% | 20.0% | 0.62 | 23.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 24.3% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 4.1% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 10.6% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 22.5% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 4.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/18/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/15/2026 | 0.7% | -8.9% | 9.6% |
| 2/19/2026 | -1.3% | -17.4% | -18.4% |
| 11/12/2025 | 5.4% | -1.1% | 8.3% |
| 8/13/2025 | 3.6% | 0.1% | 1.9% |
| 5/16/2025 | -4.8% | -15.6% | -18.9% |
| 2/19/2025 | -5.6% | -16.5% | -20.0% |
| 11/6/2024 | 5.6% | 23.0% | 48.7% |
| 8/7/2024 | 12.2% | 21.5% | 13.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 8 | 9 |
| # Negative | 12 | 16 | 15 |
| Median Positive | 5.5% | 6.2% | 9.6% |
| Median Negative | -5.2% | -9.7% | -8.0% |
| Max Positive | 14.4% | 23.0% | 48.7% |
| Max Negative | -10.2% | -19.4% | -20.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/15/2026 | 0.7% | -8.9% | 9.6% |
| 2/19/2026 | -1.3% | -17.4% | -18.4% |
| 11/12/2025 | 5.4% | -1.1% | 8.3% |
| 8/13/2025 | 3.6% | 0.1% | 1.9% |
| 5/16/2025 | -4.8% | -15.6% | -18.9% |
| 2/19/2025 | -5.6% | -16.5% | -20.0% |
| 11/6/2024 | 5.6% | 23.0% | 48.7% |
| 8/7/2024 | 12.2% | 21.5% | 13.4% |
| 5/8/2024 | -1.0% | -1.9% | -6.8% |
| 2/7/2024 | 0.9% | 0.4% | 4.2% |
| 11/1/2023 | 7.3% | -2.7% | -3.0% |
| 8/2/2023 | -3.1% | -11.8% | -6.4% |
| 5/3/2023 | 2.6% | -0.1% | 11.1% |
| 2/8/2023 | -9.9% | -3.0% | -4.3% |
| 11/2/2022 | -10.2% | -16.8% | -12.3% |
| 8/3/2022 | 8.9% | 12.6% | 14.5% |
| 4/27/2022 | -7.8% | -10.5% | -16.8% |
| 2/9/2022 | 1.1% | 2.8% | -2.2% |
| 10/27/2021 | 8.0% | 8.2% | 8.1% |
| 7/28/2021 | -2.0% | -7.0% | -9.9% |
| 4/28/2021 | -3.2% | -4.3% | -4.6% |
| 2/10/2021 | -8.8% | -19.4% | -8.0% |
| 10/28/2020 | -7.0% | -14.8% | -4.0% |
| 7/29/2020 | 14.4% | 4.1% | -9.1% |
| SUMMARY STATS | |||
| # Positive | 12 | 8 | 9 |
| # Negative | 12 | 16 | 15 |
| Median Positive | 5.5% | 6.2% | 9.6% |
| Median Negative | -5.2% | -9.7% | -8.0% |
| Max Positive | 14.4% | 23.0% | 48.7% |
| Max Negative | -10.2% | -19.4% | -20.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 03/27/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/18/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/12/2023 | 10-Q |
| 12/31/2022 | 03/27/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/11/2022 | 10-Q |
| 12/31/2021 | 03/14/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/16/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/07/2020 | 10-Q |
| 03/31/2020 | 05/14/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
| 06/30/2019 | 08/09/2019 | 10-Q |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 4162026 | 6.84 | 3,000 | 20,520 | 335,160 | Form | |
| 2 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 4132026 | 6.19 | 2,000 | 12,380 | 284,740 | Form | |
| 3 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 4132026 | 6.05 | 4,000 | 24,200 | 266,200 | Form | |
| 4 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 3032026 | 6.24 | 1,242 | 7,750 | 249,600 | Form | |
| 5 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 3032026 | 5.94 | 3,800 | 22,572 | 230,223 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 4162026 | 6.84 | 3,000 | 20,520 | 335,160 | Form | |
| 2 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 4132026 | 6.19 | 2,000 | 12,380 | 284,740 | Form | |
| 3 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 4132026 | 6.05 | 4,000 | 24,200 | 266,200 | Form | |
| 4 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 3032026 | 6.24 | 1,242 | 7,750 | 249,600 | Form | |
| 5 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 3032026 | 5.94 | 3,800 | 22,572 | 230,223 | Form | |
| 6 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 2022026 | 7.08 | 400 | 2,832 | 9,523,011 | Form | |
| 7 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 2022026 | 6.96 | 4,480 | 31,181 | 9,358,820 | Form | |
| 8 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 12112025 | 7.47 | 1,315 | 9,823 | 10,011,130 | Form | |
| 9 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 12112025 | 7.11 | 2,758 | 19,609 | 9,519,316 | Form | |
| 10 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 9222025 | 7.76 | 4,537 | 35,207 | 10,368,175 | Form | |
| 11 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 9022025 | 8.00 | 3,500 | 28,000 | 10,652,544 | Form | |
| 12 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 8222025 | 7.78 | 4,800 | 37,344 | 10,332,369 | Form | |
| 13 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 7172025 | 7.93 | 800 | 6,346 | 10,496,823 | Form | |
| 14 | Shaw, Steven A | Rachel Lynn Shaw Trust | Buy | 7172025 | 7.90 | 3,068 | 24,237 | 10,447,497 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Human Resource & Employment Services Resources |
| HR Magazine (SHRM) |
| HR Dive |
| Personnel Today |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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