Friday 6 November 2026 Export STRL’s income statement to Excel — free account

Sterling Infrastructure, Inc.

STRL Industrials Engineering & Construction

Sterling Infrastructure, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 17.7% from fiscal 2024.

Revenue: +127.0%
EPS: +148.5%
Free cash flow: −16.8%
Total debt: −67.7%

Quarter to September 2026, against a year earlier

Revenue growth 10 yrs

245.91 37.75 −13.31%

Follow STRL

Alert me

Market cap: $7.5B
P/E: 13.2×
Fwd P/E: 19.7×
Dividend yield: —
F-score: 6/9
Altman Z: 5.60
Beneish M: −2.01
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Sterling Infrastructure, Inc. (STRL) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
E-Infrastructure Solutions Revenues	1,467	58.91%
Transportation Solutions Revenues	641	25.73%
Building Solutions Revenues	383	15.37%
Gross margin		22.98%
Operating margin		16.30%
Pre-tax margin		16.40%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
E-Infrastructure Solutions Revenues	1,467 58.91%	924 43.66%	937 47.53%	905 51.16%	469 33.14%	397 32.38%	85 7.51%	—	—	—
Transportation Solutions Revenues	641 25.73%	784 37.04%	631 31.99%	543 30.66%	628 44.41%	553 45.09%	760 67.51%	766 73.78%	802 83.68%	690 100.00%
Building Solutions Revenues	383 15.37%	408 19.30%	404 20.48%	322 18.18%	317 22.44%	276 22.53%	281 24.98%	—	—	—
Residential Construction	—	—	—	—	—	—	—	152 14.62%	108 11.27%	0 0.00%
Specialty Service	—	—	—	—	—	—	—	120 11.60%	48 5.04%	—
Revenue	2,490	2,116	1,972	1,769	1,414	1,227	1,126	1,038	958	690

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
E-Infrastructure Solutions Revenues	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Transportation Solutions Revenues	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Building Solutions Revenues	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Residential Construction	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Specialty Service	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Backlog	Q3 FY2026	$4.1B	$2.6B	+60.47%
Book-to-burn ratio	Q3 FY2026	0.9×	1.2×	−26.83%
Book to burn ratio for combined backlog	Q3 FY2026	1.4×	1.8×	−20.45%
Combined backlog	Q3 FY2026	$6.1B	$3.4B	+78.49%
Remaining performance obligations	Q3 FY2026	$4.0B	$2.6B	+57.21%
Total addressable pool of work	Q3 FY2026	$8.0B	—	—
Unsigned awards	Q3 FY2026	$2.0B	$868.8M	+130.20%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018	Q2 FY2018	Q1 FY2018
Backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Book-to-burn ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Book to burn ratio for combined backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Combined backlog	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total addressable pool of work	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Unsigned awards	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.