Sterling Infrastructure, Inc. engages in the provision of e-infrastructure, transportation, and building solutions in the United States. It operates through three segments: E-Infrastructure, Transportation, and Building Solutions. The E-Infrastructure Solutions segment provides site development services for the blue-chip end users in the e-commerce distribution center, data center, manufacturing, warehousing, and power generation sectors. Its Transportation Solutions segment is involved in the development of infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail, and storm drainage systems for the departments of transportation, regional transit, airport, port, water, and railroads authorities. The Building Solutions segment offers residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, and other concrete work for developers and general contractors, as well as plumbing and surveys services for residential builds. It operates in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions, and the Pacific Islands. The company was formerly known as Sterling Construction Company, Inc. and changed its name to Sterling Infrastructure, Inc. in June 2022. Sterling Infrastructure, Inc. was founded in 1955 and is headquartered in The Woodlands, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.5B | $505M | $290M | $363M | 26.2% | 17.7% | 12.7% |
| 2024 | $2.1B | $452M | $257M | $416M | 31.2% | 7.3% | 85.7% |
| 2023 | $2.0B | $277M | $139M | $414M | 22.2% | 11.5% | 30.2% |
| 2022 | $1.8B | $213M | $106M | $158M | 22.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,769.44 | 1,972.23 | 2,115.76 | 2,490.05 |
| Cost Of Revenue | 1,494.87 | 1,634.59 | 1,689.63 | 1,917.73 |
| Gross Profit | 274.57 | 337.64 | 426.12 | 572.31 |
| Operating Expense | 113.87 | 131.64 | 156.32 | 158.80 |
| Operating Income | 160.70 | 206 | 269.80 | 413.51 |
| EBITDA | 212.82 | 277.34 | 451.94 | 505.38 |
| EBIT | 160.75 | 219.94 | 383.53 | 428.26 |
| Pretax Income | 140.16 | 190.62 | 358.28 | 408.48 |
| Tax Provision | 41.71 | 47.77 | 87.36 | 98.75 |
| Net Income | 106.46 | 138.66 | 257.46 | 290.15 |
| Net Income Common Stockholders | 106.46 | 138.66 | 257.46 | 290.15 |
| Total Expenses | 1,608.74 | 1,766.23 | 1,845.96 | 2,076.54 |
| Interest Expense | 20.59 | 29.32 | 25.25 | 19.79 |
| Interest Income | 0.89 | 14.14 | 27.62 | 22.35 |
| Selling General And Administration | 86.48 | 98.70 | 118.42 | 154.81 |
| Normalized EBITDA | 213.65 | 277.54 | 365.83 | 512.97 |
| Normalized Income | 97.30 | 138.81 | 192.36 | 295.91 |
| Basic EPS | 3.53 | 4.51 | 8.35 | 9.50 |
| Diluted EPS | 3.48 | 4.44 | 8.27 | 9.38 |
| Tax Effect Of Unusual Items | -0.25 | -0.05 | 21.01 | -1.84 |
| Tax Rate For Calcs | 0.30 | 0.25 | 0.24 | 0.24 |
| Total Unusual Items | -0.83 | -0.20 | 86.11 | -7.60 |
| Total Unusual Items Excluding Goodwill | -0.83 | -0.20 | 86.11 | -7.60 |
| Net Income From Continuing Operation Net Minority Interest | 96.72 | 138.66 | 257.46 | 290.15 |
| Reconciled Depreciation | 52.07 | 57.40 | 68.41 | 77.11 |
| Reconciled Cost Of Revenue | 1,456.90 | 1,592.41 | 1,638.26 | 1,862.81 |
| Net Interest Income | -19.71 | -15.18 | 2.37 | 2.56 |
| Net Income From Continuing And Discontinued Operation | 106.46 | 138.66 | 257.46 | 290.15 |
| Total Operating Income As Reported | 159.87 | 205.79 | 264.62 | 405.92 |
| Diluted Average Shares | 30.56 | 31.21 | 31.15 | 30.95 |
| Basic Average Shares | 30.20 | 30.75 | 30.83 | 30.54 |
| Diluted NI Availto Com Stockholders | 106.46 | 138.66 | 257.46 | 290.15 |
| Minority Interests | -1.74 | -4.19 | -13.46 | -19.57 |
| Net Income Including Noncontrolling Interests | 108.20 | 142.84 | 270.92 | 309.73 |
| Net Income Discontinuous Operations | 9.74 | 0 | 0 | 0 |
| Net Income Continuous Operations | 98.46 | 142.84 | 270.92 | 309.73 |
| Other Income Expense | -0.83 | -0.20 | 86.11 | -7.60 |
| Special Income Charges | -0.83 | -0.20 | 86.11 | -7.60 |
| Gain On Sale Of Business | 0 | 0 | 91.29 | 0 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0.83 | 0.20 | 5.18 | 7.60 |
| Net Non Operating Interest Income Expense | -19.71 | -15.18 | 2.37 | 2.56 |
| Interest Expense Non Operating | 20.59 | 29.32 | 25.25 | 19.79 |
| Interest Income Non Operating | 0.89 | 14.14 | 27.62 | 22.35 |
| Other Operating Expenses | 13.29 | 17.71 | 20.86 | -18.20 |
| Depreciation Amortization Depletion Income Statement | 14.10 | 15.23 | 17.04 | 22.19 |
| Depreciation And Amortization In Income Statement | 14.10 | 15.23 | 17.04 | 22.19 |
| Amortization | 14.10 | 15.23 | 17.04 | 22.19 |
| Amortization Of Intangibles Income Statement | 14.10 | 15.23 | 17.04 | 22.19 |
| General And Administrative Expense | 86.48 | 98.70 | 118.42 | 154.81 |
| Other Gand A | 86.48 | 98.70 | 118.42 | 154.81 |
| Operating Revenue | 1,769.44 | 1,972.23 | 2,115.76 | 2,490.05 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Sterling Infrastructure, Inc.this co. | STRL | $14.4B | 50.03β premium | 13.00 | 26.2% | 29.25 |
| Advanced Energy Industries, Inc. | AEIS | $13.7B | 93.38 | 10.02 | 10.9% | 52.94 |
| Planet Labs PBC | PL | $11.8B | - | 60.64 | -131.0% | -258.32 |
| Dycom Industries, Inc. | DY | $11.7B | 40.83 | 6.29 | 15.1% | 19.58 |
| IES Holdings, Inc. | IESC |
| $11.4B |
| 34.01 |
| 11.86 |
| 34.5% |
| 24.57 |
| Kratos Defense & Security Solutions, Inc. | KTOS | $11.2B | 458.15 | 5.04 | 1.1% | 130.08 |
| SPX Technologies, Inc. | SPXC | $10.6B | 41.85 | 4.71 | 10.9% | 23.01 |
| Chart Industries, Inc. | GTLS | $10.0B | 630.00 | 3.08 | 1.2% | 14.27 |
| Watts Water Technologies, Inc. | WTS | $9.9B | 29.23 | 4.89 | 16.8% | 18.53 |
| Peer Median | - | 41.85 | 5.67 | 10.9% | 21.30 | |