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Stock research / United States / STRL · Heavy Construction Other Than Bldg Const - Contractors · Nasdaq

Sterling Infrastructure, Inc. (STRL)

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Sterling Infrastructure, Inc. (STRL) reported revenue of $1.2 billion for Q2 FY2026, the quarter ended 30 June 2026, up 90.1% on the same quarter a year earlier. Net income was $156 million, up 119.5% on the year, and diluted earnings per share $5.00. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue$1.2 billionup 90.1%
Net income$156 millionup 119.5%
Diluted EPS$5.00
QuarterQ2 FY2026ended 30 June 2026

Sterling Infrastructure (STRL) in brief

Sterling Infrastructure (STRL) reported revenue of $2.5 billion for fiscal 2025, the year ended 31 December 2025, up 17.7% on the year before.
Read moreNet income was $290 million and diluted earnings per share $9.38. Revenue was $2.1 billion in fiscal 2024, $2.0 billion in fiscal 2023, $1.8 billion in fiscal 2022 and $1.4 billion in fiscal 2021. Net income in the same years was $257 million, $139 million, $106 million and $63 million. Over the twelve months to 30 June 2026, Sterling Infrastructure reported revenue of $3.4 billion and net income of $431 million. Revenue grew 15.2% a year, compounded, over the five years to fiscal 2025. Sterling Infrastructure had 31 million shares outstanding at the latest filed count. At 30 June 2026 it carried $269 million of debt and $464 million of cash. At the close of 8 October 2026 the market cap of Sterling Infrastructure was $15.9 billion, 37.4 times its earnings over the last twelve months.

Ratios

From the filings

ROE31.8%
ROCE37.0%
Operating margin17.5%
Net margin12.5%
FCF margin14.0%
Interest covern/a
Debt to equity0.20
Cash conversion1.39
Share count, 1 year0.9%
Sales CAGR, 3 years12.1%
Profit CAGR, 3 years39.7%
EPS, TTM$13.87

At the close of 8 October 2026

Price$518.41
Market cap$15.9 billion
Stock P/E37.38
Price to book11.72
EV / EBITDA22.68
Dividend yieldn/a
Market cap / sales4.63
52-week high$993.74
52-week low$283.57
Price, 1 year41.3%
Price CAGR, 3 years91.4%
Price CAGR, 5 years85.9%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Sterling Infrastructure, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
STRLgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on STRL

Filings21 in twelve months: 13 current reports (8-K), about 9 regulation fd disclosure; 4 results of operations; 2 officer or director change; 1 material agreement; 1 new financial obligation
Planned insider sales10 Form 144 notices in twelve months, $93.8 million; latest 25 June 2026
Options tapeput/call 1.47 by open interest at the 8 October 2026 close; the straddle prices a 7.5% move to 16 October 2026
13F holders12 of the followed funds hold it; largest FMR LLC; 7 Schedule 13D or 13G filings in twelve months
Insider trading12 sales and 0 purchases on Form 4 in twelve months
Congress3 House trades disclosed in six months
Short interest1.2 million shares short, 2.19 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025 †Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue5604864405835944994316146897568261,168
Cost of revenue468394363470464392336471519591631878
Gross profit91.991.876.911313010794.8143170164194290
Gross margin16%19%17%19%22%21%22%23%25%22%24%25%
Operating income57.155.842.172.787.562.356.1105125120138219
Operating margin10%11%10%12%15%12%13%17%18%16%17%19%
Net income39.440.231.051.961.311339.571.092.187.696.0156
Net margin7%8%7%9%10%23%9%12%13%12%12%13%
Diluted EPS$1.26$1.28$1.00$1.67$1.97$3.64$1.28$2.31$2.97$2.81$3.09$5.00
Operating cash flow15014749.612115217484.985.483.6186166162
Capital expenditure10.415.122.428.914.015.617.913.319.726.419.650.0
Free cash flow14013227.292.113815967.072.164.0160146112
Buybacks0.0n/a0.030.120.520.043.80.04.725.712.323.0
Shares outstanding31m31m31m31m31m31m30m30m31m31m31m31m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Revenue6726246909581,0381,1261,2271,4141,7691,9722,1162,4903,438
Cost of revenue6405966488699271,0181,0471,2111,4951,6351,6901,9182,620
Gross profit32.427.742.189.1110108180204275338426572819
Gross margin4.8%4.4%6.1%9.3%10.6%9.6%14.6%14.4%15.5%17.1%20.1%23.0%23.8%
Operating income-4.2-14.4-4.726.242.637.892.6107160206265406602
Operating margin-0.6%-2.3%-0.7%2.7%4.1%3.4%7.5%7.6%9.0%10.4%12.5%16.3%17.5%
Pre-tax income-4.6-17.2-7.315.9n/an/an/an/an/an/an/an/an/a
Income tax0.60.00.10.11.7-26.219.424.941.747.887.498.8141
Effective tax raten/an/an/a0.7%n/an/an/an/an/an/an/an/an/a
Net income-9.8-20.4-9.211.625.239.942.362.6106139257290431
Net margin-1.5%-3.3%-1.3%1.2%2.4%3.5%3.4%4.4%6.0%7.0%12.2%11.7%12.5%
Diluted EPS-$0.54-$2.02-$0.40$0.43$0.93$1.47$1.50$2.15$3.48$4.44$8.27$9.38$13.87
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
E-Infrastructure Solutions9379241,46758.9%
Transportation Solutions63178464125.7%
Building Solutions40440838315.4%
E-Infrastructure SolutionsTransportation SolutionsBuilding Solutions
1,972FY20232,116FY20242,490FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Operating cash flow-10.58.744.324.839.542.1123159219479497440598
Capital expenditure13.58.110.99.413.215.432.946.760.964.481.077.3116
Free cash flow-24.00.633.415.326.326.790.0112158414416363482
Free cash flow margin-3.6%0.1%4.8%1.6%2.5%2.4%7.3%7.9%8.9%21.0%19.7%14.6%14.0%
Cash from investing-7.4-4.5-8.2-55.9-11.4-410-30.5-223-89.8-87.8-186-552-692
Cash from financing38.9-22.62.372.3-17.9321-70.380.6-32.8-105-119-162-141
Depreciation and amortisation18.316.215.717.016.820.732.834.252.157.468.477.190.5
Share-based compensation0.81.61.82.83.13.811.611.812.714.619.024.226.9
Buybacksn/an/a0.00.04.73.20.00.00.00.070.674.265.6
Diluted shares, weighted18m19m23m27m27m27m28m29m31m31m31m31m31m
Shares outstanding at period endn/an/an/a27m27m28m28m30m31m31m31m31m31m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021 †FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity13495.81071411642202673594756198081,1091,357
Non-controlling interest7.5-0.10.74.97.91.31.51.53.24.918.4-2.133.2
Debt38.020.25.490.188.8391291429399315290276269
Operating lease liabilitiesn/an/an/an/an/a7.09.013.140.137.732.540.238.3
Finance lease liabilitiesn/an/an/an/an/a0.60.40.20.10.50.40.20.2
Other liabilities1271501882272223153834335258008681,2111,496
Total liabilities and equity3062663024634839359531,2351,4421,7772,0172,6343,194
Owned
Fixed assets87.173.568.154.452.0116n/an/an/an/an/an/an/a
Goodwill54.854.854.885.285.2192192258263281265585616
Intangible assetsn/an/a0.044.842.4256245303299328316555660
Investments0.00.0n/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents22.84.442.884.094.145.747.760.9182472664391464
Inventory7.42.53.74.63.2n/an/an/an/an/an/an/an/a
Other assets1341311321902063254686126986967721,1031,454
Total assets3062663024634839359531,2351,4421,7772,0172,6343,194
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded14.8%15.2%12.1%60.8%
Profit growth, compoundedn/a47.0%39.7%51.4%
Return on equity, average16.9%24.1%26.8%26.2%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Construction

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
D.R. Horton, Inc. DHI$38.1 billion12.9212.8%n/a-3.5%0.301.3%
Emcor Group, Inc. EME$34.4 billion24.2135.3%10.4%18.9%0.000.2%
PulteGroup Inc. PHM$21.3 billion11.6014.6%n/a-7.3%0.140.8%
Lennar Corp. LEN$18.4 billion14.676.1%5.4%-8.0%0.270.3%
Mastec Inc. MTZ$17.4 billion34.5514.2%n/a23.5%0.74n/a
Jacobs Solutions Inc. J$16.2 billion49.3210.4%4.6%20.1%1.101.0%
NVR Inc. NVR$16.0 billion15.5733.7%n/a-9.9%0.27n/a
Sterling Infrastructure, Inc. STRL$15.9 billion37.3831.8%17.5%60.8%0.20n/a
Toll Brothers, Inc. TOL$12.4 billion10.8214.0%13.8%-1.1%0.320.7%
Dycom Industries Inc. DY$8.4 billion25.2216.0%7.8%37.8%1.35n/a
Fluor Corp. FLR$6.9 billionn/a-74.3%-1.4%-4.8%0.4031.9%
Kbr, Inc. KBR$4.4 billion10.6025.9%9.6%-4.3%1.561.9%
All 16 in Construction
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Quanta Services, Inc. PWR$103.0 billion78.5013.8%6.2%26.3%0.560.1%
Comfort Systems USA Inc. FIX$60.1 billion41.9744.6%16.5%46.1%0.020.1%
D.R. Horton, Inc. DHI$38.1 billion12.9212.8%n/a-3.5%0.301.3%
Emcor Group, Inc. EME$34.4 billion24.2135.3%10.4%18.9%0.000.2%
PulteGroup Inc. PHM$21.3 billion11.6014.6%n/a-7.3%0.140.8%
Lennar Corp. LEN$18.4 billion14.676.1%5.4%-8.0%0.270.3%
Mastec Inc. MTZ$17.4 billion34.5514.2%n/a23.5%0.74n/a
Jacobs Solutions Inc. J$16.2 billion49.3210.4%4.6%20.1%1.101.0%
NVR Inc. NVR$16.0 billion15.5733.7%n/a-9.9%0.27n/a
Sterling Infrastructure, Inc. STRL$15.9 billion37.3831.8%17.5%60.8%0.20n/a
Toll Brothers, Inc. TOL$12.4 billion10.8214.0%13.8%-1.1%0.320.7%
Dycom Industries Inc. DY$8.4 billion25.2216.0%7.8%37.8%1.35n/a
Fluor Corp. FLR$6.9 billionn/a-74.3%-1.4%-4.8%0.4031.9%
IES Holdings, Inc. IESC$6.0 billion13.3537.1%12.4%22.7%0.00n/a
Kbr, Inc. KBR$4.4 billion10.6025.9%9.6%-4.3%1.561.9%
KB Home KBH$2.7 billion10.807.2%n/a-17.5%0.522.3%
3 companies share its SEC industry code (Heavy Construction Other Than Bldg Const - Contractors); the rest are the names nearest in size in its wider industry, Construction, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20256 May 2025EDGAR
10-K31 December 202426 February 2025EDGAR
10-Q30 September 20247 November 2024EDGAR
10-Q30 June 20246 August 2024EDGAR
10-Q31 March 20247 May 2024EDGAR

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