STRLNasdaqHeavy Construction Other Than Bldg Const - ContractorsFiscal year ends December 31
STERLING INFRASTRUCTURE, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$423.48−0.88 (-0.21%)
Close on Oct 19, 2026
- Market cap
- $13.19B
- P/E (TTM)
- 30.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
23.0%+8.3 pts over 5 years
Operating margin
16.3%+8.8 pts over 5 years
Net margin
11.7%+8.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +17.7% | +12.1% | +15.2% | +14.8% | |
| Gross profit | +34.3% | +27.7% | +26.1% | +35.4% | |
| Operating income | +53.4% | +36.4% | +34.4% | – | |
| Net income | +12.7% | +39.7% | +47.0% | – | |
| EPS, diluted | +13.4% | +39.2% | +44.3% | – | |
| Free cash flow | -12.8% | +31.9% | +32.1% | +90.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -9.1% | 17.4% | 30.3% | |
| Return on assets | -3.3% | 4.5% | 12.5% | |
| Current ratio | 1.20 | 1.12 | 1.01 | |
| Debt to equity | 0.05 | 1.38 | 0.26 | |
| Net debt to EBITDA | -3.41× | 2.36× | -0.21× | |
| Inventory turnover | 207.6× | – | – | |
| Capex to revenue | 1.6% | 2.7% | 3.1% | |
| Diluted shares | 23M | 28M | 31M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Sterling Infrastructure generated $1.79B from operations and spent $475.00M on capital expenditure, dividends and share buybacks. 70% of that went back into the business.
Generated
$1.79B
Used
$475.00M
Capital expenditure$330.21M70%Dividends$00%Share buybacks$144.80M30%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin11.7%
×Asset turnover1.07×
×Equity multiplier2.43×
=Return on equity, FY202530.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 11.7% | 1.07× | 2.43× | 30.3% |
| FY2024 | 12.2% | 1.12× | 2.66× | 36.1% |
| FY2023 | 7.0% | 1.23× | 2.94× | 25.4% |
| FY2022 | 6.0% | 1.32× | 3.21× | 25.5% |
| FY2021 | 4.4% | 1.29× | 3.49× | 20.0% |
| FY2020 | 3.4% | 1.30× | 3.87× | 17.4% |
| FY2017 | 1.2% | 2.50× | 3.08× | 9.3% |
| FY2016 | -1.3% | 2.43× | 2.79× | -9.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$290.15M
- Cash generatingOperating cash flow above zero$439.99M
- Return on assets improvedROA up on the prior year14.5% → 14.4%
- Earnings backed by cashOperating cash flow above net income$439.99M vs $290.15M
- Less leverageLong-term debt to assets fell14.4% → 10.5%
- Better liquidityCurrent ratio rose1.38 → 1.01
- No dilutionShare count did not rise31M → 31M
- Gross margin improvedGross margin up on the prior year20.14% → 22.98%
- More efficientAsset turnover rose1.19 → 1.23