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Stocks · Industrials · Heavy Construction Other Than Bldg Const - Contractors

STERLING INFRASTRUCTURE, INC.

STRL Clue Score76
United States Fiscal year ends December CIK 0000874238
$513.00 -1.04% Close, 9 Oct 2026
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Price $513.00 +2,149.01% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue690.1Operating income−4.7Net income−9.2EPS, diluted−0.40Fiscal year 2017Revenue958.0 +38.8%Operating income26.2Net income11.6EPS, diluted0.43Fiscal year 2018Revenue1,037.7 +8.3%Operating income42.6Net income29.5 +154.3%EPS, diluted0.93 +116.3%Fiscal year 2019Revenue1,126.3 +8.5%Operating income37.8Net income40.7 +37.8%EPS, diluted1.47 +58.1%Fiscal year 2020Revenue1,226.7 +8.9%Operating income92.6Net income42.3 +4.0%EPS, diluted1.50 +2.0%Fiscal year 2021Revenue1,414.4 +15.3%Operating income107.0Net income62.6 +48.1%EPS, diluted2.15 +43.3%Fiscal year 2022Revenue1,769.4 +25.1%Operating income159.9Net income106.5 +69.9%EPS, diluted3.48 +61.9%Fiscal year 2023Revenue1,972.2 +11.5%Operating income205.8Net income138.7 +30.2%EPS, diluted4.44 +27.6%Fiscal year 2024Revenue2,115.8 +7.3%Operating income264.6Net income257.5 +85.7%EPS, diluted8.27 +86.3%Fiscal year 2025Revenue2,490.0 +17.7%Operating income405.9Net income290.2 +12.7%EPS, diluted9.38 +13.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 690.1 958.0 1,037.7 1,126.3 1,226.7 1,414.4 1,769.4 1,972.2 2,115.8 2,490.0
Growth +38.8% +8.3% +8.5% +8.9% +15.3% +25.1% +11.5% +7.3% +17.7%
Operating income −4.7 26.2 42.6 37.8 92.6 107.0 159.9 205.8 264.6 405.9
Net income −9.2 11.6 29.5 40.7 42.3 62.6 106.5 138.7 257.5 290.2
Growth +154.3% +37.8% +4.0% +48.1% +69.9% +30.2% +85.7% +12.7%
EPS, diluted −0.40 0.43 0.93 1.47 1.50 2.15 3.48 4.44 8.27 9.38
Growth +116.3% +58.1% +2.0% +43.3% +61.9% +27.6% +86.3% +13.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin6.1%Operating margin−0.7%Net margin−1.3%Free cash flow margin4.8%Fiscal year 2017Gross margin9.3%Operating margin2.7%Net margin1.2%Free cash flow margin1.6%Fiscal year 2018Gross margin10.6%Operating margin4.1%Net margin2.8%Free cash flow margin2.5%Fiscal year 2019Gross margin9.6%Operating margin3.4%Net margin3.6%Free cash flow margin2.4%Fiscal year 2020Gross margin14.6%Operating margin7.5%Net margin3.4%Free cash flow margin7.3%Fiscal year 2021Gross margin14.4%Operating margin7.6%Net margin4.4%Free cash flow margin7.9%Fiscal year 2022Gross margin15.5%Operating margin9.0%Net margin6.0%Free cash flow margin8.9%Fiscal year 2023Gross margin17.1%Operating margin10.4%Net margin7.0%Free cash flow margin21.0%Fiscal year 2024Gross margin20.1%Operating margin12.5%Net margin12.2%Free cash flow margin19.7%Fiscal year 2025Gross margin23.0%Operating margin16.3%Net margin11.7%Free cash flow margin14.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 6.1% 9.3% 10.6% 9.6% 14.6% 14.4% 15.5% 17.1% 20.1% 23.0%
Operating margin −0.7% 2.7% 4.1% 3.4% 7.5% 7.6% 9.0% 10.4% 12.5% 16.3%
Net margin −1.3% 1.2% 2.8% 3.6% 3.4% 4.4% 6.0% 7.0% 12.2% 11.7%
Free cash flow margin 4.8% 1.6% 2.5% 2.4% 7.3% 7.9% 8.9% 21.0% 19.7% 14.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow44.3Capital expenditure−10.9Free cash flow33.4Buybacks0.0Fiscal year 2017Operating cash flow24.8Capital expenditure−9.4Free cash flow15.3 −54.0%Buybacks0.0Fiscal year 2018Operating cash flow39.5Capital expenditure−13.2Free cash flow26.3 +71.4%Buybacks−4.7Fiscal year 2019Operating cash flow42.1Capital expenditure−15.4Free cash flow26.7 +1.4%Buybacks−3.2Fiscal year 2020Operating cash flow122.9Capital expenditure−32.9Free cash flow90.0 +237.6%Buybacks0.0Fiscal year 2021Operating cash flow158.9Capital expenditure−46.7Free cash flow112.3 +24.7%Buybacks0.0Fiscal year 2022Operating cash flow219.1Capital expenditure−60.9Free cash flow158.2 +40.9%Buybacks0.0Fiscal year 2023Operating cash flow478.6Capital expenditure−64.4Free cash flow414.2 +161.8%Buybacks0.0Fiscal year 2024Operating cash flow497.1Capital expenditure−81.0Free cash flow416.2 +0.5%Buybacks−70.6Fiscal year 2025Operating cash flow440.0Capital expenditure−77.3Free cash flow362.7 −12.8%Buybacks−74.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 44.3 24.8 39.5 42.1 122.9 158.9 219.1 478.6 497.1 440.0
Capital expenditure −10.9 −9.4 −13.2 −15.4 −32.9 −46.7 −60.9 −64.4 −81.0 −77.3
Free cash flow 33.4 15.3 26.3 26.7 90.0 112.3 158.2 414.2 416.2 362.7
Growth −54.0% +71.4% +1.4% +237.6% +24.7% +40.9% +161.8% +0.5% −12.8%
Buybacks 0.0 0.0 −4.7 −3.2 0.0 0.0 0.0 0.0 −70.6 −74.2

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash42.8Total debt5.4Net cash (debt)37.4Shareholders’ equity107.4Debt to equity0.05Fiscal year 2017Cash84.0Total debt90.1Net cash (debt)−6.2Shareholders’ equity141.3Debt to equity0.64Fiscal year 2018Cash94.1Total debt82.0Net cash (debt)12.1Shareholders’ equity164.4Debt to equity0.50Fiscal year 2019Cash45.7Total debt433.1Net cash (debt)−387.4Shareholders’ equity219.9Debt to equity1.97Fiscal year 2020Cash47.7Total debt368.7Net cash (debt)−321.0Shareholders’ equity267.3Debt to equity1.38Fiscal year 2021Cash60.9Total debt451.9Net cash (debt)−390.9Shareholders’ equity358.8Debt to equity1.26Fiscal year 2022Cash181.5Total debt431.3Net cash (debt)−249.8Shareholders’ equity474.6Debt to equity0.91Fiscal year 2023Cash471.6Total debt341.5Net cash (debt)130.0Shareholders’ equity618.9Debt to equity0.55Fiscal year 2024Cash664.2Total debt316.3Net cash (debt)347.9Shareholders’ equity808.1Debt to equity0.39Fiscal year 2025Cash390.7Total debt291.0Net cash (debt)99.7Shareholders’ equity1,108.5Debt to equity0.26
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 42.8 84.0 94.1 45.7 47.7 60.9 181.5 471.6 664.2 390.7
Total debt 5.4 90.1 82.0 433.1 368.7 451.9 431.3 341.5 316.3 291.0
Net cash (debt) 37.4 −6.2 12.1 −387.4 −321.0 −390.9 −249.8 130.0 347.9 99.7
Shareholders’ equity 107.4 141.3 164.4 219.9 267.3 358.8 474.6 618.9 808.1 1,108.5
Debt to equity 0.05 0.64 0.50 1.97 1.38 1.26 0.91 0.55 0.39 0.26

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
6.1% 9.3% 10.6% 9.6% 14.6% 14.4% 15.5% 17.1% 20.1% 23.0%
−0.7% 2.7% 4.1% 3.4% 7.5% 7.6% 9.0% 10.4% 12.5% 16.3%
−1.1% 1.7% n/a n/a n/a n/a n/a n/a n/a n/a
−1.3% 1.2% 2.8% 3.6% 3.4% 4.4% 6.0% 7.0% 12.2% 11.7%
4.8% 1.6% 2.5% 2.4% 7.3% 7.9% 8.9% 21.0% 19.7% 14.6%
Spending
5.3% 4.9% 4.6% 4.4% 5.2% 4.9% 4.9% 5.0% 5.6% 6.2%
1.6% 1.0% 1.3% 1.4% 2.7% 3.3% 3.4% 3.3% 3.8% 3.1%
n/a 0.7% n/a n/a n/a n/a n/a n/a n/a n/a
Returns
−8.6% 8.2% 18.0% 18.5% 15.8% 17.5% 22.4% 22.4% 31.9% 26.2%
−3.1% 2.5% 6.1% 4.4% 4.4% 5.1% 7.4% 7.8% 12.8% 11.0%
Balance and payout
0.05 0.64 0.50 1.97 1.38 1.26 0.91 0.55 0.39 0.26
n/a n/a 64.3% 76.3% 71.8% 70.8% 66.9% 64.9% 59.0% 58.0%
0.0% 0.0% 18.0% 12.0% 0.0% 0.0% 0.0% 0.0% 17.0% 20.5%