Sterling Infrastructure, Inc. (STRL) 10-Year Financial Performance & Capital Metrics

STRL • • Industrial / General

IndustrialsEngineering & ConstructionHeavy Civil ConstructionRoad & Highway Construction

AboutSterling Infrastructure, Inc. engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads. The company also provides specialty site infrastructure improvement contracting services for blue-chip end users in the e-commerce, data center, distribution center and warehousing, and energy sectors. In addition, it undertakes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, and other concrete work for national home builders, regional and custom home builders, and developers and general contractors in commercial markets. 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.Show more

Revenue $2.12B +7.3%
EBITDA $333M +26.5%
Net Income $257M +85.7%
EPS (Diluted) 8.27 +86.3%
Gross Margin 20.14% +17.6%
EBITDA Margin 15.74% +17.9%
Operating Margin 12.51% +19.9%
Net Margin 12.17% +73.1%
ROE 35.5% +41.0%
ROIC 36.66% +58.5%
Debt/Equity 0.45 -30.1%
Interest Coverage 10.48 +49.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 28.7%
✓Strong 5Y profit CAGR of 45.2%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 19.7% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.4%

✗Weaknesses

✗Expensive at 12.7x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y12.15%

5Y13.44%

3Y14.37%

TTM6.2%

Profit (Net Income) CAGR

10Y-

5Y45.19%

3Y60.18%

TTM71.22%

EPS CAGR

10Y-

5Y41.27%

3Y56.68%

TTM72.3%

ROCE

10Y Avg10.88%

5Y Avg17.06%

3Y Avg19.2%

Latest21.88%

Peer Comparison

Road & Highway Construction

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ROADConstruction Partners, Inc.	5.38B	112.13	60.94	54.2%	3.62%	11.16%	2.85%	1.85
GVAGranite Construction Incorporated	5.28B	120.98	46.18	14.2%	4.31%	15.14%	6.06%	0.77
STRLSterling Infrastructure, Inc.	10.33B	336.31	40.67	7.28%	14.14%	29.1%	4.03%	0.45
ONEGOneConstruction Group Limited	32.48M	2.03	25.44	-16.16%	1.69%	10.11%		2.00
VATEINNOVATE Corp.	74.83M	5.48	-2.01	-22.2%	-7.7%
TPCTutor Perini Corporation	3.96B	75.17	-24.02	11.51%	-0.25%	-1.01%	11.76%	0.46
SKBLSkyline Builders Group Holding Limited	44.08M	3.73		-5.76%	1.58%	12.51%		1.42

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	623.6M	690.12M	957.96M	1.04B	1.13B	1.23B	1.41B	1.77B	1.97B	2.12B
Revenue Growth %	-0.07%	0.11%	0.39%	0.08%	0.09%	0.09%	0.15%	0.25%	0.11%	0.07%
Cost of Goods Sold+	594.64M	646.27M	868.87M	927.34M	1.02B	1.05B	1.21B	1.49B	1.63B	1.69B
COGS % of Revenue	0.95%	0.94%	0.91%	0.89%	0.9%	0.85%	0.86%	0.84%	0.83%	0.8%
Gross Profit+	28.95M	43.85M	89.09M	110.33M	107.79M	179.63M	203.53M	274.57M	337.64M	426.12M
Gross Margin %	0.05%	0.06%	0.09%	0.11%	0.1%	0.15%	0.14%	0.16%	0.17%	0.2%
Gross Profit Growth %	-0.11%	0.51%	1.03%	0.24%	-0.02%	0.67%	0.13%	0.35%	0.23%	0.26%
Operating Expenses+	43.34M	48.58M	62.92M	67.72M	70.04M	87.02M	96.52M	114.7M	131.84M	161.5M
OpEx % of Revenue	0.07%	0.07%	0.07%	0.07%	0.06%	0.07%	0.07%	0.06%	0.07%	0.08%
Selling, General & Admin	41.88M	38.62M	48.35M	50.62M	49.2M	64.31M	69.15M	86.48M	98.7M	118.42M
SG&A % of Revenue	0.07%	0.06%	0.05%	0.05%	0.04%	0.05%	0.05%	0.05%	0.05%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.46M	9.96M	14.56M	17.1M	20.84M	22.71M	27.37M	28.22M	33.14M	43.08M
Operating Income+	-14.39M	-4.73M	26.18M	42.61M	37.75M	92.61M	107.01M	159.87M	205.79M	264.62M
Operating Margin %	-0.02%	-0.01%	0.03%	0.04%	0.03%	0.08%	0.08%	0.09%	0.1%	0.13%
Operating Income Growth %	-2.41%	0.67%	6.54%	0.63%	-0.11%	1.45%	0.16%	0.49%	0.29%	0.29%
EBITDA+	2.14M	11.32M	43.17M	59.21M	58.49M	125.4M	141.21M	211.94M	263.2M	333.03M
EBITDA Margin %	0%	0.02%	0.05%	0.06%	0.05%	0.1%	0.1%	0.12%	0.13%	0.16%
EBITDA Growth %	-0.85%	4.28%	2.81%	0.37%	-0.01%	1.14%	0.13%	0.5%	0.24%	0.27%
D&A (Non-Cash Add-back)	16.53M	16.05M	16.99M	16.6M	20.74M	32.78M	34.2M	52.07M	57.4M	68.41M
EBIT	-14.17M	-4.7M	27.88M	43.63M	31.16M	92.46M	108.12M	160.75M	219.94M	383.53M
Net Interest Income+	-2.55M	-2.6M	-9.49M	-11.33M	-15.54M	-29.18M	-19.27M	-19.71M	-15.18M	2.37M
Interest Income	460K	33K	314K	1.02M	1.14M	149K	45K	885K	14.14M	27.62M
Interest Expense	3.01M	2.63M	9.8M	12.35M	16.69M	29.33M	19.31M	20.59M	29.32M	25.25M
Other Income/Expense	-2.79M	-2.6M	-10.24M	-11.33M	-23.27M	-29.48M	-18.2M	-19.71M	-15.18M	93.66M
Pretax Income+	-17.18M	-7.32M	15.94M	31.28M	14.48M	63.13M	88.81M	140.16M	190.62M	358.28M
Pretax Margin %	-0.03%	-0.01%	0.02%	0.03%	0.01%	0.05%	0.06%	0.08%	0.1%	0.17%
Income Tax+	7K	88K	118K	1.74M	-26.22M	19.41M	24.87M	41.71M	47.77M	87.36M
Effective Tax Rate %	1.19%	1.26%	0.73%	0.81%	2.76%	0.67%	0.71%	0.76%	0.73%	0.72%
Net Income+	-20.4M	-9.24M	11.62M	25.19M	39.9M	42.31M	62.65M	106.46M	138.66M	257.46M
Net Margin %	-0.03%	-0.01%	0.01%	0.02%	0.04%	0.03%	0.04%	0.06%	0.07%	0.12%
Net Income Growth %	-1.09%	0.55%	2.26%	1.17%	0.58%	0.06%	0.48%	0.7%	0.3%	0.86%
Net Income (Continuing)	-17.19M	-7.41M	15.82M	29.54M	40.7M	43.72M	63.94M	98.46M	142.84M	270.92M
Discontinued Operations	0	0	0	0	0	-817K	1.19M	9.74M	0	0
Minority Interest	-91K	656K	4.86M	7.86M	1.29M	1.46M	1.46M	3.2M	4.94M	18.4M
EPS (Diluted)+	-1.05	-0.40	0.43	0.93	1.47	1.50	2.15	3.48	4.44	8.27
EPS Growth %	-0.94%	0.62%	2.08%	1.16%	0.58%	0.02%	0.43%	0.62%	0.28%	0.86%
EPS (Basic)	-1.05	-0.40	0.44	0.94	1.50	1.52	2.19	3.53	4.51	8.35
Diluted Shares Outstanding	19.38M	23.14M	26.71M	27.19M	27.12M	28.2M	29.1M	30.56M	31.21M	31.15M
Basic Shares Outstanding	19.38M	23.09M	26.27M	26.9M	26.67M	27.86M	28.6M	30.2M	30.75M	30.83M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	134.92M	175.91M	278.53M	302.62M	357.52M	361.54M	434.69M	597.25M	847.98M	1.02B
Cash & Short-Term Investments	6.43M	44.78M	86.55M	98M	50.53M	72.69M	64.77M	185.26M	471.56M	664.2M
Cash Only	6.43M	44.78M	86.55M	98M	50.53M	72.69M	64.77M	185.26M	471.56M	664.2M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	121.95M	123.97M	182.42M	197.29M	272.75M	279.05M	285.82M	386.57M	358.54M	340.3M
Days Sales Outstanding	71.38	65.57	69.51	69.4	88.39	83.03	73.76	79.74	66.36	58.71
Inventory	2.54M	3.71M	4.62M	3.16M	0	0	0	0	0	0
Days Inventory Outstanding	1.56	2.09	1.94	1.24	-	-	-	-	-	-
Other Current Assets	4.01M	3.45M	4.93M	4.17M	6.99M	9.81M	84.11M	25.42M	17.88M	17.38M
Total Non-Current Assets+	131.24M	125.91M	184.77M	179.96M	619.5M	620.85M	826.98M	871.68M	956.08M	1.01B
Property, Plant & Equipment	73.47M	68.13M	54.41M	52M	130.01M	143.18M	213.37M	274.9M	300.88M	289.46M
Fixed Asset Turnover	8.49x	10.13x	17.61x	19.96x	8.66x	8.57x	6.63x	6.44x	6.55x	7.31x
Goodwill	54.82M	54.82M	85.23M	85.23M	191.89M	192.01M	258.29M	262.69M	281.12M	264.6M
Intangible Assets	0	0	44.82M	42.42M	256.32M	244.89M	303.22M	299.12M	328.4M	316.39M
Long-Term Investments	2.95M	2.97M	0	0	0	0	0	0	0	107.4M
Other Non-Current Assets	0	0	317K	309K	183K	3.25M	25.2M	7.65M	18.81M	17.04M
Total Assets+	266.17M	301.82M	463.3M	482.57M	949.77M	982.39M	1.26B	1.47B	1.8B	2.03B
Asset Turnover	2.34x	2.29x	2.07x	2.15x	1.19x	1.25x	1.12x	1.20x	1.09x	1.04x
Asset Growth %	-0.13%	0.13%	0.53%	0.04%	0.97%	0.03%	0.28%	0.16%	0.23%	0.13%
Total Current Liabilities+	104.65M	146.59M	182.29M	179.17M	293.5M	321.88M	351.76M	446.61M	678.17M	741.96M
Accounts Payable	58.96M	67.02M	97.46M	99.43M	137.59M	95.2M	112.75M	121.89M	145.97M	130.42M
Days Payables Outstanding	36.19	37.85	40.94	39.13	49.31	33.19	33.99	29.76	32.59	28.17
Short-Term Debt	4.86M	3.85M	3.98M	2.9M	49.57M	85.02M	29.93M	52.33M	46.16M	46.92M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	3.9M	6.15M	9.35M	4.68M	6.39M	9.63M	70M	8.97M	14.12M	19M
Current Ratio	1.29x	1.20x	1.53x	1.69x	1.22x	1.12x	1.24x	1.34x	1.25x	1.38x
Quick Ratio	1.27x	1.17x	1.50x	1.67x	1.22x	1.12x	1.24x	1.34x	1.25x	1.38x
Cash Conversion Cycle	36.74	29.81	30.51	31.51	-	-	-	-	-	-
Total Non-Current Liabilities+	66.1M	47.14M	134.82M	131.14M	462.31M	391.78M	549.69M	544.52M	502.04M	466.54M
Long-Term Debt	15.32M	1.55M	86.16M	79.12M	390.07M	290.88M	428.28M	398.66M	314.5M	289.53M
Capital Lease Obligations	0	0	0	0	7.54M	9.33M	13.29M	40.18M	38.22M	32.83M
Deferred Tax Liabilities	0	0	0	1.45M	15.09M	29.7M	45.34M	78.97M	103.64M	127.56M
Other Non-Current Liabilities	50.78M	45.59M	48.66M	50.57M	49.62M	61.87M	62.78M	26.71M	45.68M	16.63M
Total Liabilities	170.41M	193.73M	317.11M	310.31M	728.56M	713.66M	901.45M	991.13M	1.18B	1.21B
Total Debt+	20.18M	5.39M	90.14M	82.02M	447.17M	385.23M	471.5M	491.16M	398.88M	369.27M
Net Debt	13.75M	-39.39M	3.58M	-15.98M	396.64M	312.54M	406.74M	305.9M	-72.68M	-294.92M
Debt / Equity	0.21x	0.05x	0.62x	0.48x	2.02x	1.43x	1.31x	1.03x	0.64x	0.45x
Debt / EBITDA	9.42x	0.48x	2.09x	1.39x	7.65x	3.07x	3.34x	2.32x	1.52x	1.11x
Net Debt / EBITDA	6.42x	-3.48x	0.08x	-0.27x	6.78x	2.49x	2.88x	1.44x	-0.28x	-0.89x
Interest Coverage	-4.78x	-1.80x	2.67x	3.45x	2.26x	3.16x	5.54x	7.76x	7.02x	10.48x
Total Equity+	95.75M	108.09M	146.19M	172.26M	221.21M	268.73M	360.23M	477.8M	623.85M	826.48M
Equity Growth %	-0.32%	0.13%	0.35%	0.18%	0.28%	0.21%	0.34%	0.33%	0.31%	0.32%
Book Value per Share	4.94	4.67	5.47	6.33	8.16	9.53	12.38	15.63	19.99	26.54
Total Shareholders' Equity	95.84M	107.43M	141.33M	164.4M	219.92M	267.27M	358.77M	474.6M	618.91M	808.08M
Common Stock	198K	250K	271K	271K	283K	283K	298K	306K	309K	312K
Retained Earnings	-92.5M	-101.74M	-90.12M	-64.93M	-25.03M	17.27M	79.92M	186.38M	325.03M	582.5M
Treasury Stock	0	0	0	-4.73M	-6.14M	-1.45M	0	0	0	-63.12M
Accumulated OCI	0	0	0	0	-209K	-5.26M	-1.72M	0	0	0
Minority Interest	-91K	656K	4.86M	7.86M	1.29M	1.46M	1.46M	3.2M	4.94M	18.4M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	8.97M	44.5M	23.01M	39.47M	41.09M	122.9M	158.93M	219.12M	478.58M	497.1M
Operating CF Margin %	0.01%	0.06%	0.02%	0.04%	0.04%	0.1%	0.11%	0.12%	0.24%	0.23%
Operating CF Growth %	1.85%	3.96%	-0.48%	0.72%	0.04%	1.99%	0.29%	0.38%	1.18%	0.04%
Net Income	-17.19M	-7.41M	15.82M	29.54M	39.9M	42.9M	65.12M	108.2M	142.84M	270.92M
Depreciation & Amortization	16.53M	16.05M	16.99M	16.77M	20.7M	32.78M	34.2M	52.07M	57.4M	68.41M
Stock-Based Compensation	1.6M	1.81M	2.84M	3.06M	0	11.64M	11.77M	12.73M	14.62M	19M
Deferred Taxes	-2.84M	-2.19M	-3.27M	1.45M	-27.4M	19.44M	21.43M	36.49M	14.75M	32.57M
Other Non-Cash Items	1.6M	1.83M	4.2M	2.67M	11.8M	2.26M	-1.22M	-19.82M	-3.56M	-93.62M
Working Capital Changes	9.26M	34.42M	-13.57M	-14.02M	-3.9M	13.86M	27.63M	29.45M	252.53M	199.82M
Change in Receivables	-3.22M	-2.02M	-29.92M	-11.09M	-13.75M	49.95M	4.36M	9.37M	235.49M	194.85M
Change in Inventory	17.13M	-1.17M	305K	1.58M	0	0	0	0	0	0
Change in Payables	-7.83M	8.14M	13.58M	1.97M	10.99M	-42.39M	26.61M	11.89M	10.31M	-9.34M
Cash from Investing+	-4.49M	-8.17M	-55.9M	-11.38M	-410.39M	-30.49M	-223.45M	-89.75M	-87.75M	-185.85M
Capital Expenditures	-8.09M	-10.89M	-9.42M	-13.17M	-15.4M	-32.86M	-46.65M	-60.91M	-64.38M	-80.95M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.01%	0.03%	0.03%	0.03%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.6M	2.71M	8.38M	1.79M	0	2.37M	4.11M	4.95M	13.8M	-93.67M
Cash from Financing+	-22.9M	2.03M	74.06M	-17.95M	320.93M	-70.33M	80.57M	-32.79M	-104.53M	-118.62M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.77M	-1.91M	-6.23M	-1.66M	-7.56M	7.42M	-11.16M	-9.42M	-13.61M	-21.49M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	883K	33.61M	13.59M	26.3M	25.7M	90.03M	112.28M	158.21M	414.2M	416.15M
FCF Margin %	0%	0.05%	0.01%	0.03%	0.02%	0.07%	0.08%	0.09%	0.21%	0.2%
FCF Growth %	1.04%	37.06%	-0.6%	0.94%	-0.02%	2.5%	0.25%	0.41%	1.62%	0%
FCF per Share	0.05	1.45	0.51	0.97	0.95	3.19	3.86	5.18	13.27	13.36
FCF Conversion (FCF/Net Income)	-0.44x	-4.82x	1.98x	1.57x	1.03x	2.90x	2.54x	2.06x	3.45x	1.93x
Interest Paid	2.89M	2.63M	9.8M	10.83M	0	26.94M	17.24M	19.32M	27.01M	23.38M
Taxes Paid	547K	72K	279K	276K	0	4.75M	3.06M	5.6M	36.91M	53.07M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.22%	-9.06%	9.14%	15.82%	20.28%	17.27%	19.92%	25.41%	25.17%	35.5%
Return on Invested Capital (ROIC)	-8.12%	-3.98%	17.97%	20.88%	7.31%	11.59%	11.91%	15.46%	23.13%	36.66%
Gross Margin	4.64%	6.35%	9.3%	10.63%	9.57%	14.64%	14.39%	15.52%	17.12%	20.14%
Net Margin	-3.27%	-1.34%	1.21%	2.43%	3.54%	3.45%	4.43%	6.02%	7.03%	12.17%
Debt / Equity	0.21x	0.05x	0.62x	0.48x	2.02x	1.43x	1.31x	1.03x	0.64x	0.45x
Interest Coverage	-4.78x	-1.80x	2.67x	3.45x	2.26x	3.16x	5.54x	7.76x	7.02x	10.48x
FCF Conversion	-0.44x	-4.82x	1.98x	1.57x	1.03x	2.90x	2.54x	2.06x	3.45x	1.93x
Revenue Growth	-7.23%	10.67%	38.81%	8.32%	8.54%	8.92%	15.3%	25.1%	11.46%	7.28%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
E-Infrastructure Solutions	-	-	-	-	468.78M	905.28M	937.41M	923.73M
E-Infrastructure Solutions Growth	-	-	-	-	-	93.11%	3.55%	-1.46%
Transportation Solutions	-	-	-	-	963.27M	67.71M	630.91M	783.66M
Transportation Solutions Growth	-	-	-	-	-	-92.97%	831.83%	24.21%
Building Solutions	-	-	-	-	317.4M	207.67M	403.91M	408.37M
Building Solutions Growth	-	-	-	-	-	-34.57%	94.49%	1.10%
Heavy Civil Construction	849.97M	885.97M	834.05M	898.18M	-	-	-	-
Heavy Civil Construction Growth	-	4.24%	-5.86%	7.69%	-	-	-	-
Specialty Service	-	-	233.98M	277.2M	-	-	-	-
Specialty Service Growth	-	-	-	18.48%	-	-	-	-
Residential Construction	107.99M	151.7M	153.13M	164.69M	-	-	-	-
Residential Construction Growth	-	40.47%	0.94%	7.55%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Sterling Infrastructure, Inc. (STRL) has a price-to-earnings (P/E) ratio of 40.7x. This suggests investors expect higher future growth.

Growth & Financials

Sterling Infrastructure, Inc. (STRL) reported $2.23B in revenue for fiscal year 2024. This represents a 346% increase from $501.2M in 2011.

Sterling Infrastructure, Inc. (STRL) grew revenue by 7.3% over the past year. This is steady growth.

Yes, Sterling Infrastructure, Inc. (STRL) is profitable, generating $315.8M in net income for fiscal year 2024 (12.2% net margin).

Dividend & Returns

Sterling Infrastructure, Inc. (STRL) has a return on equity (ROE) of 35.5%. This is excellent, indicating efficient use of shareholder capital.

Sterling Infrastructure, Inc. (STRL) generated $361.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Sterling Infrastructure, Inc. (STRL) 10-Year Financial Performance & Capital Metrics

STRL • • Industrial / General

IndustrialsEngineering & ConstructionHeavy Civil ConstructionRoad & Highway Construction

Revenue $2.12B +7.3%
EBITDA $333M +26.5%
Net Income $257M +85.7%
EPS (Diluted) 8.27 +86.3%
Gross Margin 20.14% +17.6%
EBITDA Margin 15.74% +17.9%
Operating Margin 12.51% +19.9%
Net Margin 12.17% +73.1%
ROE 35.5% +41.0%
ROIC 36.66% +58.5%
Debt/Equity 0.45 -30.1%
Interest Coverage 10.48 +49.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 28.7%
✓Strong 5Y profit CAGR of 45.2%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 19.7% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.4%

✗Weaknesses

✗Expensive at 12.7x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y12.15%

5Y13.44%

3Y14.37%

TTM6.2%

Profit (Net Income) CAGR

10Y-

5Y45.19%

3Y60.18%

TTM71.22%

EPS CAGR

10Y-

5Y41.27%

3Y56.68%

TTM72.3%

ROCE

10Y Avg10.88%

5Y Avg17.06%

3Y Avg19.2%

Latest21.88%

Peer Comparison

Road & Highway Construction

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ROADConstruction Partners, Inc.	5.38B	112.13	60.94	54.2%	3.62%	11.16%	2.85%	1.85
GVAGranite Construction Incorporated	5.28B	120.98	46.18	14.2%	4.31%	15.14%	6.06%	0.77
STRLSterling Infrastructure, Inc.	10.33B	336.31	40.67	7.28%	14.14%	29.1%	4.03%	0.45
ONEGOneConstruction Group Limited	32.48M	2.03	25.44	-16.16%	1.69%	10.11%		2.00
VATEINNOVATE Corp.	74.83M	5.48	-2.01	-22.2%	-7.7%
TPCTutor Perini Corporation	3.96B	75.17	-24.02	11.51%	-0.25%	-1.01%	11.76%	0.46
SKBLSkyline Builders Group Holding Limited	44.08M	3.73		-5.76%	1.58%	12.51%		1.42

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	623.6M	690.12M	957.96M	1.04B	1.13B	1.23B	1.41B	1.77B	1.97B	2.12B
Revenue Growth %	-0.07%	0.11%	0.39%	0.08%	0.09%	0.09%	0.15%	0.25%	0.11%	0.07%
Cost of Goods Sold+	594.64M	646.27M	868.87M	927.34M	1.02B	1.05B	1.21B	1.49B	1.63B	1.69B
COGS % of Revenue	0.95%	0.94%	0.91%	0.89%	0.9%	0.85%	0.86%	0.84%	0.83%	0.8%
Gross Profit+	28.95M	43.85M	89.09M	110.33M	107.79M	179.63M	203.53M	274.57M	337.64M	426.12M
Gross Margin %	0.05%	0.06%	0.09%	0.11%	0.1%	0.15%	0.14%	0.16%	0.17%	0.2%
Gross Profit Growth %	-0.11%	0.51%	1.03%	0.24%	-0.02%	0.67%	0.13%	0.35%	0.23%	0.26%
Operating Expenses+	43.34M	48.58M	62.92M	67.72M	70.04M	87.02M	96.52M	114.7M	131.84M	161.5M
OpEx % of Revenue	0.07%	0.07%	0.07%	0.07%	0.06%	0.07%	0.07%	0.06%	0.07%	0.08%
Selling, General & Admin	41.88M	38.62M	48.35M	50.62M	49.2M	64.31M	69.15M	86.48M	98.7M	118.42M
SG&A % of Revenue	0.07%	0.06%	0.05%	0.05%	0.04%	0.05%	0.05%	0.05%	0.05%	0.06%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	1.46M	9.96M	14.56M	17.1M	20.84M	22.71M	27.37M	28.22M	33.14M	43.08M
Operating Income+	-14.39M	-4.73M	26.18M	42.61M	37.75M	92.61M	107.01M	159.87M	205.79M	264.62M
Operating Margin %	-0.02%	-0.01%	0.03%	0.04%	0.03%	0.08%	0.08%	0.09%	0.1%	0.13%
Operating Income Growth %	-2.41%	0.67%	6.54%	0.63%	-0.11%	1.45%	0.16%	0.49%	0.29%	0.29%
EBITDA+	2.14M	11.32M	43.17M	59.21M	58.49M	125.4M	141.21M	211.94M	263.2M	333.03M
EBITDA Margin %	0%	0.02%	0.05%	0.06%	0.05%	0.1%	0.1%	0.12%	0.13%	0.16%
EBITDA Growth %	-0.85%	4.28%	2.81%	0.37%	-0.01%	1.14%	0.13%	0.5%	0.24%	0.27%
D&A (Non-Cash Add-back)	16.53M	16.05M	16.99M	16.6M	20.74M	32.78M	34.2M	52.07M	57.4M	68.41M
EBIT	-14.17M	-4.7M	27.88M	43.63M	31.16M	92.46M	108.12M	160.75M	219.94M	383.53M
Net Interest Income+	-2.55M	-2.6M	-9.49M	-11.33M	-15.54M	-29.18M	-19.27M	-19.71M	-15.18M	2.37M
Interest Income	460K	33K	314K	1.02M	1.14M	149K	45K	885K	14.14M	27.62M
Interest Expense	3.01M	2.63M	9.8M	12.35M	16.69M	29.33M	19.31M	20.59M	29.32M	25.25M
Other Income/Expense	-2.79M	-2.6M	-10.24M	-11.33M	-23.27M	-29.48M	-18.2M	-19.71M	-15.18M	93.66M
Pretax Income+	-17.18M	-7.32M	15.94M	31.28M	14.48M	63.13M	88.81M	140.16M	190.62M	358.28M
Pretax Margin %	-0.03%	-0.01%	0.02%	0.03%	0.01%	0.05%	0.06%	0.08%	0.1%	0.17%
Income Tax+	7K	88K	118K	1.74M	-26.22M	19.41M	24.87M	41.71M	47.77M	87.36M
Effective Tax Rate %	1.19%	1.26%	0.73%	0.81%	2.76%	0.67%	0.71%	0.76%	0.73%	0.72%
Net Income+	-20.4M	-9.24M	11.62M	25.19M	39.9M	42.31M	62.65M	106.46M	138.66M	257.46M
Net Margin %	-0.03%	-0.01%	0.01%	0.02%	0.04%	0.03%	0.04%	0.06%	0.07%	0.12%
Net Income Growth %	-1.09%	0.55%	2.26%	1.17%	0.58%	0.06%	0.48%	0.7%	0.3%	0.86%
Net Income (Continuing)	-17.19M	-7.41M	15.82M	29.54M	40.7M	43.72M	63.94M	98.46M	142.84M	270.92M
Discontinued Operations	0	0	0	0	0	-817K	1.19M	9.74M	0	0
Minority Interest	-91K	656K	4.86M	7.86M	1.29M	1.46M	1.46M	3.2M	4.94M	18.4M
EPS (Diluted)+	-1.05	-0.40	0.43	0.93	1.47	1.50	2.15	3.48	4.44	8.27
EPS Growth %	-0.94%	0.62%	2.08%	1.16%	0.58%	0.02%	0.43%	0.62%	0.28%	0.86%
EPS (Basic)	-1.05	-0.40	0.44	0.94	1.50	1.52	2.19	3.53	4.51	8.35
Diluted Shares Outstanding	19.38M	23.14M	26.71M	27.19M	27.12M	28.2M	29.1M	30.56M	31.21M	31.15M
Basic Shares Outstanding	19.38M	23.09M	26.27M	26.9M	26.67M	27.86M	28.6M	30.2M	30.75M	30.83M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	134.92M	175.91M	278.53M	302.62M	357.52M	361.54M	434.69M	597.25M	847.98M	1.02B
Cash & Short-Term Investments	6.43M	44.78M	86.55M	98M	50.53M	72.69M	64.77M	185.26M	471.56M	664.2M
Cash Only	6.43M	44.78M	86.55M	98M	50.53M	72.69M	64.77M	185.26M	471.56M	664.2M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	121.95M	123.97M	182.42M	197.29M	272.75M	279.05M	285.82M	386.57M	358.54M	340.3M
Days Sales Outstanding	71.38	65.57	69.51	69.4	88.39	83.03	73.76	79.74	66.36	58.71
Inventory	2.54M	3.71M	4.62M	3.16M	0	0	0	0	0	0
Days Inventory Outstanding	1.56	2.09	1.94	1.24	-	-	-	-	-	-
Other Current Assets	4.01M	3.45M	4.93M	4.17M	6.99M	9.81M	84.11M	25.42M	17.88M	17.38M
Total Non-Current Assets+	131.24M	125.91M	184.77M	179.96M	619.5M	620.85M	826.98M	871.68M	956.08M	1.01B
Property, Plant & Equipment	73.47M	68.13M	54.41M	52M	130.01M	143.18M	213.37M	274.9M	300.88M	289.46M
Fixed Asset Turnover	8.49x	10.13x	17.61x	19.96x	8.66x	8.57x	6.63x	6.44x	6.55x	7.31x
Goodwill	54.82M	54.82M	85.23M	85.23M	191.89M	192.01M	258.29M	262.69M	281.12M	264.6M
Intangible Assets	0	0	44.82M	42.42M	256.32M	244.89M	303.22M	299.12M	328.4M	316.39M
Long-Term Investments	2.95M	2.97M	0	0	0	0	0	0	0	107.4M
Other Non-Current Assets	0	0	317K	309K	183K	3.25M	25.2M	7.65M	18.81M	17.04M
Total Assets+	266.17M	301.82M	463.3M	482.57M	949.77M	982.39M	1.26B	1.47B	1.8B	2.03B
Asset Turnover	2.34x	2.29x	2.07x	2.15x	1.19x	1.25x	1.12x	1.20x	1.09x	1.04x
Asset Growth %	-0.13%	0.13%	0.53%	0.04%	0.97%	0.03%	0.28%	0.16%	0.23%	0.13%
Total Current Liabilities+	104.65M	146.59M	182.29M	179.17M	293.5M	321.88M	351.76M	446.61M	678.17M	741.96M
Accounts Payable	58.96M	67.02M	97.46M	99.43M	137.59M	95.2M	112.75M	121.89M	145.97M	130.42M
Days Payables Outstanding	36.19	37.85	40.94	39.13	49.31	33.19	33.99	29.76	32.59	28.17
Short-Term Debt	4.86M	3.85M	3.98M	2.9M	49.57M	85.02M	29.93M	52.33M	46.16M	46.92M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	3.9M	6.15M	9.35M	4.68M	6.39M	9.63M	70M	8.97M	14.12M	19M
Current Ratio	1.29x	1.20x	1.53x	1.69x	1.22x	1.12x	1.24x	1.34x	1.25x	1.38x
Quick Ratio	1.27x	1.17x	1.50x	1.67x	1.22x	1.12x	1.24x	1.34x	1.25x	1.38x
Cash Conversion Cycle	36.74	29.81	30.51	31.51	-	-	-	-	-	-
Total Non-Current Liabilities+	66.1M	47.14M	134.82M	131.14M	462.31M	391.78M	549.69M	544.52M	502.04M	466.54M
Long-Term Debt	15.32M	1.55M	86.16M	79.12M	390.07M	290.88M	428.28M	398.66M	314.5M	289.53M
Capital Lease Obligations	0	0	0	0	7.54M	9.33M	13.29M	40.18M	38.22M	32.83M
Deferred Tax Liabilities	0	0	0	1.45M	15.09M	29.7M	45.34M	78.97M	103.64M	127.56M
Other Non-Current Liabilities	50.78M	45.59M	48.66M	50.57M	49.62M	61.87M	62.78M	26.71M	45.68M	16.63M
Total Liabilities	170.41M	193.73M	317.11M	310.31M	728.56M	713.66M	901.45M	991.13M	1.18B	1.21B
Total Debt+	20.18M	5.39M	90.14M	82.02M	447.17M	385.23M	471.5M	491.16M	398.88M	369.27M
Net Debt	13.75M	-39.39M	3.58M	-15.98M	396.64M	312.54M	406.74M	305.9M	-72.68M	-294.92M
Debt / Equity	0.21x	0.05x	0.62x	0.48x	2.02x	1.43x	1.31x	1.03x	0.64x	0.45x
Debt / EBITDA	9.42x	0.48x	2.09x	1.39x	7.65x	3.07x	3.34x	2.32x	1.52x	1.11x
Net Debt / EBITDA	6.42x	-3.48x	0.08x	-0.27x	6.78x	2.49x	2.88x	1.44x	-0.28x	-0.89x
Interest Coverage	-4.78x	-1.80x	2.67x	3.45x	2.26x	3.16x	5.54x	7.76x	7.02x	10.48x
Total Equity+	95.75M	108.09M	146.19M	172.26M	221.21M	268.73M	360.23M	477.8M	623.85M	826.48M
Equity Growth %	-0.32%	0.13%	0.35%	0.18%	0.28%	0.21%	0.34%	0.33%	0.31%	0.32%
Book Value per Share	4.94	4.67	5.47	6.33	8.16	9.53	12.38	15.63	19.99	26.54
Total Shareholders' Equity	95.84M	107.43M	141.33M	164.4M	219.92M	267.27M	358.77M	474.6M	618.91M	808.08M
Common Stock	198K	250K	271K	271K	283K	283K	298K	306K	309K	312K
Retained Earnings	-92.5M	-101.74M	-90.12M	-64.93M	-25.03M	17.27M	79.92M	186.38M	325.03M	582.5M
Treasury Stock	0	0	0	-4.73M	-6.14M	-1.45M	0	0	0	-63.12M
Accumulated OCI	0	0	0	0	-209K	-5.26M	-1.72M	0	0	0
Minority Interest	-91K	656K	4.86M	7.86M	1.29M	1.46M	1.46M	3.2M	4.94M	18.4M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	8.97M	44.5M	23.01M	39.47M	41.09M	122.9M	158.93M	219.12M	478.58M	497.1M
Operating CF Margin %	0.01%	0.06%	0.02%	0.04%	0.04%	0.1%	0.11%	0.12%	0.24%	0.23%
Operating CF Growth %	1.85%	3.96%	-0.48%	0.72%	0.04%	1.99%	0.29%	0.38%	1.18%	0.04%
Net Income	-17.19M	-7.41M	15.82M	29.54M	39.9M	42.9M	65.12M	108.2M	142.84M	270.92M
Depreciation & Amortization	16.53M	16.05M	16.99M	16.77M	20.7M	32.78M	34.2M	52.07M	57.4M	68.41M
Stock-Based Compensation	1.6M	1.81M	2.84M	3.06M	0	11.64M	11.77M	12.73M	14.62M	19M
Deferred Taxes	-2.84M	-2.19M	-3.27M	1.45M	-27.4M	19.44M	21.43M	36.49M	14.75M	32.57M
Other Non-Cash Items	1.6M	1.83M	4.2M	2.67M	11.8M	2.26M	-1.22M	-19.82M	-3.56M	-93.62M
Working Capital Changes	9.26M	34.42M	-13.57M	-14.02M	-3.9M	13.86M	27.63M	29.45M	252.53M	199.82M
Change in Receivables	-3.22M	-2.02M	-29.92M	-11.09M	-13.75M	49.95M	4.36M	9.37M	235.49M	194.85M
Change in Inventory	17.13M	-1.17M	305K	1.58M	0	0	0	0	0	0
Change in Payables	-7.83M	8.14M	13.58M	1.97M	10.99M	-42.39M	26.61M	11.89M	10.31M	-9.34M
Cash from Investing+	-4.49M	-8.17M	-55.9M	-11.38M	-410.39M	-30.49M	-223.45M	-89.75M	-87.75M	-185.85M
Capital Expenditures	-8.09M	-10.89M	-9.42M	-13.17M	-15.4M	-32.86M	-46.65M	-60.91M	-64.38M	-80.95M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.01%	0.03%	0.03%	0.03%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	3.6M	2.71M	8.38M	1.79M	0	2.37M	4.11M	4.95M	13.8M	-93.67M
Cash from Financing+	-22.9M	2.03M	74.06M	-17.95M	320.93M	-70.33M	80.57M	-32.79M	-104.53M	-118.62M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.77M	-1.91M	-6.23M	-1.66M	-7.56M	7.42M	-11.16M	-9.42M	-13.61M	-21.49M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	883K	33.61M	13.59M	26.3M	25.7M	90.03M	112.28M	158.21M	414.2M	416.15M
FCF Margin %	0%	0.05%	0.01%	0.03%	0.02%	0.07%	0.08%	0.09%	0.21%	0.2%
FCF Growth %	1.04%	37.06%	-0.6%	0.94%	-0.02%	2.5%	0.25%	0.41%	1.62%	0%
FCF per Share	0.05	1.45	0.51	0.97	0.95	3.19	3.86	5.18	13.27	13.36
FCF Conversion (FCF/Net Income)	-0.44x	-4.82x	1.98x	1.57x	1.03x	2.90x	2.54x	2.06x	3.45x	1.93x
Interest Paid	2.89M	2.63M	9.8M	10.83M	0	26.94M	17.24M	19.32M	27.01M	23.38M
Taxes Paid	547K	72K	279K	276K	0	4.75M	3.06M	5.6M	36.91M	53.07M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-17.22%	-9.06%	9.14%	15.82%	20.28%	17.27%	19.92%	25.41%	25.17%	35.5%
Return on Invested Capital (ROIC)	-8.12%	-3.98%	17.97%	20.88%	7.31%	11.59%	11.91%	15.46%	23.13%	36.66%
Gross Margin	4.64%	6.35%	9.3%	10.63%	9.57%	14.64%	14.39%	15.52%	17.12%	20.14%
Net Margin	-3.27%	-1.34%	1.21%	2.43%	3.54%	3.45%	4.43%	6.02%	7.03%	12.17%
Debt / Equity	0.21x	0.05x	0.62x	0.48x	2.02x	1.43x	1.31x	1.03x	0.64x	0.45x
Interest Coverage	-4.78x	-1.80x	2.67x	3.45x	2.26x	3.16x	5.54x	7.76x	7.02x	10.48x
FCF Conversion	-0.44x	-4.82x	1.98x	1.57x	1.03x	2.90x	2.54x	2.06x	3.45x	1.93x
Revenue Growth	-7.23%	10.67%	38.81%	8.32%	8.54%	8.92%	15.3%	25.1%	11.46%	7.28%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024
E-Infrastructure Solutions	-	-	-	-	468.78M	905.28M	937.41M	923.73M
E-Infrastructure Solutions Growth	-	-	-	-	-	93.11%	3.55%	-1.46%
Transportation Solutions	-	-	-	-	963.27M	67.71M	630.91M	783.66M
Transportation Solutions Growth	-	-	-	-	-	-92.97%	831.83%	24.21%
Building Solutions	-	-	-	-	317.4M	207.67M	403.91M	408.37M
Building Solutions Growth	-	-	-	-	-	-34.57%	94.49%	1.10%
Heavy Civil Construction	849.97M	885.97M	834.05M	898.18M	-	-	-	-
Heavy Civil Construction Growth	-	4.24%	-5.86%	7.69%	-	-	-	-
Specialty Service	-	-	233.98M	277.2M	-	-	-	-
Specialty Service Growth	-	-	-	18.48%	-	-	-	-
Residential Construction	107.99M	151.7M	153.13M	164.69M	-	-	-	-
Residential Construction Growth	-	40.47%	0.94%	7.55%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Sterling Infrastructure, Inc. (STRL) has a price-to-earnings (P/E) ratio of 40.7x. This suggests investors expect higher future growth.

Growth & Financials

Sterling Infrastructure, Inc. (STRL) reported $2.23B in revenue for fiscal year 2024. This represents a 346% increase from $501.2M in 2011.

Sterling Infrastructure, Inc. (STRL) grew revenue by 7.3% over the past year. This is steady growth.

Yes, Sterling Infrastructure, Inc. (STRL) is profitable, generating $315.8M in net income for fiscal year 2024 (12.2% net margin).

Dividend & Returns

Sterling Infrastructure, Inc. (STRL) has a return on equity (ROE) of 35.5%. This is excellent, indicating efficient use of shareholder capital.

Sterling Infrastructure, Inc. (STRL) generated $361.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.