NASDAQ : STRL
Sterling Infrastructure, Inc. — Financial statements
Industrials · Engineering & Construction · United States
Last price 345.91 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 10.55B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Sterling Infrastructure, Inc. (STRL) reported revenue of 4.31B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.31B | 2.49B | 2.12B | 1.97B | 1.77B | 1.41B |
| Cost of Revenue | 3.29B | 1.92B | 1.69B | 1.63B | 1.49B | 1.21B |
| Gross Profit | 1.03B | 572.31M | 426.12M | 337.64M | 274.57M | 203.53M |
| Selling, General & Admin | 210.95M | 154.81M | 118.42M | 98.70M | 86.48M | 69.15M |
| Amortization of Goodwill & Intangibles | 30.08M | 22.19M | 17.04M | 15.23M | 14.10M | 11.46M |
| Other Operating Expenses | -18.35M | -18.20M | 20.86M | 17.71M | 13.29M | 12.03M |
| Operating Expenses | 222.69M | 158.80M | 156.32M | 131.64M | 113.87M | 92.64M |
| Operating Income | 802.96M | 413.51M | 269.80M | 206.00M | 160.70M | 110.89M |
| Interest Expense | -14.40M | -19.79M | -25.25M | -29.32M | -20.59M | -19.31M |
| Interest & Investment Income | 12.42M | 22.35M | 27.62M | 14.14M | 885.00K | 45.00K |
| EBT Excluding Unusual Items | 800.98M | 416.07M | 272.17M | 190.82M | 140.99M | 91.62M |
| Merger & Restructuring Charges | -16.38M | -8.33M | -421.00K | -873.00K | -827.00K | -3.88M |
| Gain (Loss) on Sale of Assets | 91.29M | |||||
| Other Unusual Items | -3.97M | 731.00K | -4.76M | 669.00K | 1.06M | |
| Pretax Income | 780.64M | 408.48M | 358.28M | 190.62M | 140.16M | 88.81M |
| Income Tax Expense | 186.85M | 98.75M | 87.36M | 47.77M | 41.71M | 24.87M |
| Earnings From Continuing Operations | 593.79M | 309.73M | 270.92M | 142.84M | 98.46M | 63.94M |
| Earnings From Discontinued Operations | 9.74M | 1.19M | ||||
| Net Income to Company | 593.79M | 309.73M | 270.92M | 142.84M | 108.20M | 65.12M |
| Minority Interest in Earnings | -39.46M | -19.57M | -13.46M | -4.19M | -1.74M | -2.48M |
| Net Income | 554.33M | 290.15M | 257.46M | 138.66M | 106.46M | 62.65M |
| Net Income to Common | 554.33M | 290.15M | 257.46M | 138.66M | 106.46M | 62.65M |
| Shares Outstanding (Basic) | 30.66M | 30.54M | 30.83M | 30.75M | 30.20M | 28.60M |
| Shares Outstanding (Diluted) | 31.12M | 30.95M | 31.15M | 31.21M | 30.56M | 29.10M |
| EPS (Basic) | 18.08 | 9.50 | 8.35 | 4.51 | 3.53 | 2.19 |
| EPS (Diluted) | 17.82 | 9.38 | 8.27 | 4.44 | 3.48 | 2.15 |
| Free Cash Flow | 471.30M | 362.68M | 416.15M | 414.20M | 158.21M | 112.28M |
| Free Cash Flow Per Share | 15.15 | 11.72 | 13.36 | 13.27 | 5.18 | 3.86 |
| Gross Margin | 23.78% | 22.98% | 20.14% | 17.12% | 15.52% | 14.39% |
| Operating Margin | 18.62% | 16.61% | 12.75% | 10.45% | 9.08% | 7.84% |
| Profit Margin | 12.85% | 11.65% | 12.17% | 7.03% | 6.02% | 4.43% |
| Free Cash Flow Margin | 10.93% | 14.56% | 19.67% | 21.00% | 8.94% | 7.94% |
| EBITDA | 901.38M | 490.63M | 338.21M | 263.40M | 212.76M | 145.09M |
| EBITDA Margin | 20.90% | 19.70% | 15.98% | 13.36% | 12.02% | 10.26% |
| D&A For EBITDA | 98.42M | 77.11M | 68.41M | 57.40M | 52.07M | 34.20M |
| EBIT | 802.96M | 413.51M | 269.80M | 206.00M | 160.70M | 110.89M |
| EBIT Margin | 18.62% | 16.61% | 12.75% | 10.45% | 9.08% | 7.84% |
| Effective Tax Rate | 23.94% | 24.18% | 24.38% | 25.06% | 29.76% | 28.01% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 216.94M | 390.72M | 664.20M | 471.56M | 181.54M | 60.95M |
| Cash & Short-Term Investments | 216.94M | 390.72M | 664.20M | 471.56M | 181.54M | 60.95M |
| Accounts Receivable | 1.40B | 608.50M | 308.25M | 358.54M | 386.57M | 285.82M |
| Other Receivables | 32.05M | |||||
| Receivables | 1.40B | 608.50M | 340.30M | 358.54M | 386.57M | 285.82M |
| Restricted Cash | 3.72M | 3.82M | ||||
| Other Current Assets | 30.17M | 35.24M | 17.38M | 17.88M | 25.42M | 84.11M |
| Total Current Assets | 1.65B | 1.03B | 1.02B | 847.98M | 597.25M | 434.69M |
| Property, Plant & Equipment | 426.19M | 336.44M | 289.46M | 300.88M | 274.90M | 213.37M |
| Long-Term Investments | 99.02M | 105.81M | 107.40M | |||
| Goodwill | 628.05M | 585.22M | 264.60M | 281.12M | 262.69M | 258.29M |
| Other Intangible Assets | 659.34M | 554.70M | 316.39M | 328.40M | 299.12M | 303.22M |
| Other Long-Term Assets | 18.70M | 17.20M | 17.04M | 18.81M | 7.65M | 25.20M |
| Total Assets | 3.48B | 2.63B | 2.02B | 1.78B | 1.44B | 1.23B |
| Accounts Payable | 387.99M | 226.81M | 130.42M | 145.97M | 121.89M | 112.75M |
| Accrued Expenses | 108.05M | 62.66M | 36.77M | 27.76M | 24.14M | 20.41M |
| Current Portion of Long-Term Debt | 15.01M | 26.30M | 26.32M | 32.46M | 25.66M | |
| Current Portion of Leases | 14.89M | 18.82M | 20.62M | 19.84M | 19.86M | 6.71M |
| Current Unearned Revenue | 917.42M | 652.36M | 508.85M | 444.16M | 239.30M | 118.67M |
| Other Current Liabilities | 163.88M | 46.80M | 19.00M | 14.12M | 8.97M | 67.56M |
| Total Current Liabilities | 1.59B | 1.02B | 741.96M | 678.17M | 446.61M | 351.76M |
| Long-Term Debt | 95.00M | 275.67M | 289.53M | 314.50M | 398.66M | 428.28M |
| Long-Term Leases | 55.92M | 40.42M | 32.83M | 38.22M | 40.18M | 13.29M |
| Long-Term Deferred Tax Liabilities | 134.91M | 123.14M | 109.36M | 76.76M | 51.66M | 18.43M |
| Other Long-Term Liabilities | 48.98M | 65.71M | 16.62M | 45.68M | 26.71M | 62.78M |
| Total Liabilities | 1.93B | 1.53B | 1.19B | 1.15B | 963.82M | 874.55M |
| Common Stock | 315.00K | 315.00K | 312.00K | 309.00K | 306.00K | 298.00K |
| Additional Paid-In Capital | 410.74M | 366.10M | 288.39M | 293.57M | 287.91M | 280.27M |
| Retained Earnings | 1.34B | 872.65M | 582.50M | 325.03M | 186.38M | 79.92M |
| Treasury Stock | -242.49M | -130.55M | -63.12M | |||
| Comprehensive Income & Other | -1.72M | |||||
| Total Common Equity | 1.51B | 1.11B | 808.08M | 618.91M | 474.60M | 358.77M |
| Minority Interest | 47.00M | -2.08M | 18.40M | 4.94M | 3.20M | 1.46M |
| Shareholders' Equity | 1.55B | 1.11B | 826.48M | 623.85M | 477.80M | 360.23M |
| Total Liabilities & Equity | 3.48B | 2.63B | 2.02B | 1.78B | 1.44B | 1.23B |
| Total Debt | 165.81M | 349.91M | 369.27M | 398.88M | 491.16M | 473.94M |
| Net Cash (Debt) | 51.13M | 40.81M | 294.92M | 72.68M | -309.62M | -413.00M |
| Net Cash Per Share | 1.64 | 1.32 | 9.47 | 2.33 | -10.13 | -14.19 |
| Filing Date Shares Outstanding | 30.50M | 30.64M | 30.60M | 30.93M | 30.59M | 29.84M |
| Total Common Shares Outstanding | 30.60M | 30.68M | 30.67M | 30.93M | 30.59M | 29.84M |
| Working Capital | 58.46M | 12.01M | 279.92M | 169.81M | 150.64M | 82.93M |
| Book Value Per Share | 49.28 | 36.13 | 26.35 | 20.01 | 15.52 | 12.02 |
| Tangible Book Value | 220.56M | -31.41M | 227.09M | 9.40M | -87.22M | -202.75M |
| Tangible Book Value Per Share | 7.21 | -1.02 | 7.40 | 0.30 | -2.85 | -6.79 |
| Land | 2.28M | 2.17M | 2.17M | 3.05M | 3.40M | 3.40M |
| Buildings | 30.19M | 30.22M | 20.48M | 21.32M | 20.50M | 19.07M |
| Machinery | 590.32M | 466.64M | 390.72M | 409.26M | 349.00M | 299.84M |
| Order Backlog | 3.31B | 1.83B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 554.33M | 290.15M | 257.46M | 138.66M | 106.46M | 62.65M |
| Depreciation & Amortization | 98.42M | 77.11M | 68.41M | 57.40M | 52.07M | 34.20M |
| Other Amortization | 772.00K | 787.00K | 1.15M | 1.73M | 2.14M | 2.24M |
| Loss (Gain) From Sale of Assets | -2.13M | -2.84M | -94.76M | -5.29M | -2.64M | -1.40M |
| Loss (Gain) From Sale of Investments | -203.00K | -32.00K | ||||
| Loss (Gain) on Equity Investments | 9.49M | 7.87M | ||||
| Stock-Based Compensation | 32.74M | 24.18M | 19.00M | 14.62M | 12.73M | 11.77M |
| Other Operating Activities | 60.46M | 33.36M | 46.03M | 18.94M | 35.80M | 21.87M |
| Change in Accounts Receivable | -459.41M | -86.97M | 187.42M | 238.87M | 14.41M | 4.61M |
| Change in Accounts Payable | 172.18M | 33.11M | -9.34M | 10.31M | 11.89M | 26.61M |
| Change in Other Net Operating Assets | 146.31M | 63.22M | 21.73M | 3.35M | 3.15M | -3.58M |
| Operating Cash Flow | 613.15M | 439.99M | 497.10M | 478.58M | 219.12M | 158.93M |
| Capital Expenditures | -141.85M | -77.31M | -80.95M | -64.38M | -60.91M | -46.65M |
| Sale of Property, Plant & Equipment | 7.91M | 7.72M | 10.16M | 27.80M | 4.95M | 4.11M |
| Cash Acquisitions | -163.17M | -482.33M | -11.22M | -51.18M | -18.00M | -180.91M |
| Divestitures | -103.83M | -15.79M | ||||
| Investing Cash Flow | -297.11M | -551.92M | -185.85M | -87.75M | -89.75M | -223.45M |
| Long-Term Debt Issued | 2.56M | 140.00M | ||||
| Total Debt Issued | 160.00M | 2.56M | 140.00M | |||
| Long-Term Debt Repaid | -24.86M | -26.54M | -93.49M | -23.37M | -48.27M | |
| Total Debt Repaid | -365.24M | -24.86M | -26.54M | -93.49M | -23.37M | -48.27M |
| Net Debt Issued (Repaid) | -205.24M | -24.86M | -26.54M | -90.93M | -23.37M | 91.73M |
| Repurchase of Common Stock | -160.28M | -95.22M | -92.05M | -9.57M | -9.42M | -7.34M |
| Other Financing Activities | -39.98M | -41.46M | -36.00K | -4.04M | -3.82M | |
| Financing Cash Flow | -405.50M | -161.54M | -118.62M | -104.53M | -32.79M | 80.57M |
| Net Cash Flow | -89.46M | -273.47M | 192.63M | 286.30M | 96.57M | 16.05M |
| Free Cash Flow | 471.30M | 362.68M | 416.15M | 414.20M | 158.21M | 112.28M |
| Free Cash Flow Margin | 10.93% | 14.56% | 19.67% | 21.00% | 8.94% | 7.94% |
| Free Cash Flow Per Share | 15.15 | 11.72 | 13.36 | 13.27 | 5.18 | 3.86 |
| Levered Free Cash Flow | 352.62M | 278.38M | 242.21M | 396.81M | 126.52M | 67.37M |
| Unlevered Free Cash Flow | 360.85M | 289.96M | 256.84M | 413.41M | 137.25M | 77.19M |
| Cash Interest Paid | 17.84M | 17.84M | 23.38M | 27.01M | 19.32M | 17.24M |
| Cash Income Tax Paid | 144.59M | 81.07M | 53.07M | 36.91M | 5.60M | 3.06M |
| Change in Working Capital | -140.93M | 9.36M | 199.82M | 252.53M | 29.45M | 27.63M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.23B | 9.41B | 5.17B | 2.71B | 994.81M | 757.30M |
| Enterprise Value | 10.18B | 9.49B | 4.92B | 2.72B | 1.35B | 983.76M |
| Last Close Price | 335.45 | 306.23 | 168.45 | 87.93 | 32.80 | 26.30 |
| PE Ratio | 18.82 | 32.42 | 20.09 | 19.56 | 9.34 | 12.09 |
| Forward PE | 12.55 | 26.20 | 27.37 | 19.14 | 9.89 | 12.06 |
| PS Ratio | 2.37 | 3.78 | 2.44 | 1.38 | 0.56 | 0.54 |
| PB Ratio | 6.81 | 8.50 | 6.26 | 4.35 | 2.08 | 2.10 |
| P/TBV Ratio | 46.39 | 22.78 | 288.50 | |||
| P/FCF Ratio | 21.71 | 25.94 | 12.43 | 6.55 | 6.29 | 6.75 |
| P/OCF Ratio | 16.69 | 21.38 | 10.41 | 5.67 | 4.54 | 4.76 |
| PEG Ratio | 0.35 | 0.99 | 1.82 | 0.96 | 0.55 | 1.12 |
| EV/Sales Ratio | 2.36 | 3.81 | 2.32 | 1.38 | 0.76 | 0.70 |
| EV/EBITDA Ratio | 11.29 | 19.35 | 14.54 | 10.34 | 6.34 | 6.78 |
| EV/EBIT Ratio | 12.68 | 22.96 | 18.23 | 13.22 | 8.39 | 8.87 |
| EV/FCF Ratio | 21.60 | 26.18 | 11.82 | 6.57 | 8.52 | 8.76 |
| Debt / Equity Ratio | 0.11 | 0.32 | 0.45 | 0.64 | 1.03 | 1.32 |
| Debt / EBITDA Ratio | 0.17 | 0.64 | 0.95 | 1.32 | 2.02 | 2.88 |
| Debt / FCF Ratio | 0.35 | 0.96 | 0.89 | 0.96 | 3.10 | 4.22 |
| Net Debt / Equity Ratio | -0.03 | -0.04 | -0.36 | -0.12 | 0.65 | 1.15 |
| Net Debt / EBITDA Ratio | -0.06 | -0.08 | -0.87 | -0.28 | 1.46 | 2.85 |
| Net Debt / FCF Ratio | -0.11 | -0.11 | -0.71 | -0.17 | 1.96 | 3.68 |
| Asset Turnover | 1.43 | 1.07 | 1.11 | 1.23 | 1.32 | 1.29 |
| Quick Ratio | 1.02 | 0.98 | 1.35 | 1.22 | 1.27 | 0.99 |
| Current Ratio | 1.04 | 1.01 | 1.38 | 1.25 | 1.34 | 1.24 |
| Return on Equity (ROE) | 44.98% | 32.05% | 37.36% | 25.93% | 23.50% | 20.33% |
| Return on Assets (ROA) | 16.61% | 11.11% | 8.89% | 8.00% | 7.51% | 6.34% |
| Return on Invested Capital (ROIC) | 44.15% | 39.26% | 37.69% | 23.06% | 14.47% | 11.67% |
| Return on Capital Employed (ROCE) | 42.50% | 25.70% | 21.20% | 18.70% | 16.20% | 12.60% |
| Earnings Yield | 5.31% | 3.08% | 4.98% | 5.11% | 10.70% | 8.27% |
| FCF Yield | 4.61% | 3.85% | 8.04% | 15.28% | 15.90% | 14.83% |
| Buyback Yield / Dilution | -0.66% | 0.64% | 0.20% | -2.11% | -5.03% | -3.21% |