STERLING INFRASTRUCTURE, INC. STRL
Sterling Infrastructure, Inc. ("Sterling" or "the Company") operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services and mission-critical electrical services for data centers, semiconductor fabrication, manufacturing, distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concrete work, plumbing services, and surveys for new single-family residential builds. From strategy to operations, we are committed to sustainability by operating responsibly to safeguard and improve society's quality of life. Caring for our people and our communities, our customers and our investors – that is The Sterling Way.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.49B | $2.12B | $1.97B | $1.77B | $1.41B | $1.23B | $1.13B | $1.04B | $958.0M | $690.1M |
| Cost of revenue | $1.92B | $1.69B | $1.63B | $1.49B | $1.21B | $1.05B | $1.02B | $927.3M | $868.9M | $648.1M |
| Gross profit | $572.3M | $426.1M | $337.6M | $274.6M | $203.5M | $179.6M | $107.8M | $110.3M | $89.1M | $42.1M |
| SG&A | $154.8M | $118.4M | $98.7M | $86.5M | $69.2M | $64.3M | $49.2M | $48.2M | $46.6M | $36.8M |
| Operating income | $405.9M | $264.6M | $205.8M | $159.9M | $107.0M | $92.6M | $37.8M | $42.6M | $26.2M | -$4.7M |
| Pre-tax income | $388.9M | $344.8M | $186.4M | $148.2M | $87.5M | $61.7M | $66.9M | $31.3M | $15.9M | -$7.3M |
| Income tax | $98.8M | $87.4M | $47.8M | $41.7M | $24.9M | $19.4M | $26.2M | $1.7M | $118.0K | $88.0K |
| Net income | $290.2M | $257.5M | $138.7M | $106.5M | $62.6M | $42.3M | $40.7M | $29.5M | $15.8M | -$7.4M |
| EPS, basic | 9.50 | 8.35 | 4.51 | 3.53 | 2.19 | 1.52 | 1.50 | 0.94 | 0.44 | -0.40 |
| EPS, diluted | 9.38 | 8.27 | 4.44 | 3.48 | 2.15 | 1.50 | 1.47 | 0.93 | 0.43 | -0.40 |
| Shares, diluted (wtd. avg.) | $30.9M | $31.1M | $31.2M | $30.6M | $29.1M | $28.2M | $27.1M | $27.2M | $26.7M | $23.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $390.7M | $664.2M | $471.6M | $185.3M | $88.7M | $72.6M | $50.6M | $98.0M | $84.0M | $42.8M |
| Inventory | — | — | — | — | — | — | — | $3.2M | $4.6M | $3.7M |
| Total current assets | $1.03B | $1.02B | $848.0M | $597.3M | $434.7M | $361.5M | $330.3M | $302.6M | $278.5M | $175.9M |
| Property, plant and equipment | — | — | — | — | — | — | $116.0M | $52.0M | $54.4M | $68.1M |
| Goodwill | $585.2M | $264.6M | $281.1M | $262.7M | $258.3M | $192.0M | $191.9M | $85.2M | $85.2M | $54.8M |
| Other intangibles | $554.7M | $316.4M | $328.4M | $299.1M | $303.2M | $244.9M | $256.3M | $42.4M | $44.8M | $0 |
| Total assets | $2.63B | $2.02B | $1.78B | $1.44B | $1.23B | $952.7M | $934.7M | $482.6M | $463.3M | $301.8M |
| Accounts payable | $226.8M | $130.4M | $146.0M | $121.9M | $112.7M | $95.2M | $137.6M | $99.4M | $97.5M | $67.1M |
| Short-term debt | $15.1M | $26.4M | $26.5M | $32.6M | $23.4M | $77.4M | $42.5M | $2.9M | $4.0M | $3.8M |
| Total current liabilities | $1.02B | $742.0M | $678.2M | $446.6M | $351.8M | $321.9M | $266.3M | $179.2M | $182.3M | $146.6M |
| Long-term debt | $275.9M | $289.9M | $315.0M | $398.7M | $428.5M | $291.2M | $390.6M | $79.1M | $86.2M | $1.5M |
| Total liabilities | $1.53B | $1.19B | $1.15B | $963.8M | $874.5M | $684.0M | $713.5M | $310.3M | — | — |
| Retained earnings | $872.6M | $582.5M | $325.0M | $186.4M | $79.9M | $17.3M | -$25.0M | -$64.9M | -$90.1M | -$101.7M |
| Total equity | $1.11B | $808.1M | $623.9M | $477.8M | $360.2M | $268.7M | $221.2M | $172.3M | $146.2M | $108.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $440.0M | $497.1M | $478.6M | $219.1M | $158.9M | $122.9M | $42.1M | $39.5M | $24.8M | $44.3M |
| Depreciation and amortisation | $77.1M | $68.4M | $57.4M | $52.1M | $34.2M | $32.8M | $20.7M | $16.8M | $17.0M | $15.7M |
| Stock-based compensation | $24.2M | $19.0M | $14.6M | $12.7M | $11.8M | $11.6M | $3.8M | $3.1M | $2.8M | $1.8M |
| Capital expenditure | $77.3M | $81.0M | $64.4M | $60.9M | $46.7M | $32.9M | $15.4M | $13.2M | $9.4M | $10.9M |
| Investing cash flow | -$551.9M | -$185.8M | -$87.8M | -$89.8M | -$223.4M | -$30.5M | -$410.4M | -$11.4M | -$55.9M | -$8.2M |
| Financing cash flow | -$161.5M | -$118.6M | -$104.5M | -$32.8M | $80.6M | -$70.3M | $320.9M | -$17.9M | $72.3M | $2.3M |
| Buybacks | $74.2M | $70.6M | $0 | $0 | $0 | $0 | $3.2M | $4.7M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000874238-26-000024.
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