Sterling Infra Financials
This page shows Sterling Infra (STRL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Sterling Infra has an operating margin of 12.5%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 63/100, indicating healthy but not exceptional operating efficiency. This is up from 10.4% the prior year.
Sterling Infra's revenue grew 7.3% year-over-year to $2.1B, a solid pace of expansion. This earns a growth score of 49/100.
Sterling Infra carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
Sterling Infra's current ratio of 1.38 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.
Sterling Infra converts 19.7% of revenue into free cash flow ($416.1M). This strong cash generation earns a score of 98/100.
Sterling Infra earns a strong 31.9% return on equity (ROE), meaning it generates $32 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 22.4% the prior year.
Sterling Infra scores 8.83, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($13.4B) relative to total liabilities ($1.2B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Sterling Infra passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Sterling Infra generates $1.93 in operating cash flow ($497.1M OCF vs $257.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Sterling Infra generated $2.1B in revenue in fiscal year 2024. This represents an increase of 7.3% from the prior year.
Sterling Infra's EBITDA was $333.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 26.5% from the prior year.
Sterling Infra generated $416.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 0.5% from the prior year.
Sterling Infra reported $257.5M in net income in fiscal year 2024. This represents an increase of 85.7% from the prior year.
Sterling Infra earned $8.27 per diluted share (EPS) in fiscal year 2024. This represents an increase of 86.3% from the prior year.
Sterling Infra held $664.2M in cash against $289.9M in long-term debt as of fiscal year 2024.
Sterling Infra had 31M shares outstanding in fiscal year 2024. This represents a decrease of 0.8% from the prior year.
Sterling Infra's gross margin was 20.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 3.0 percentage points from the prior year.
Sterling Infra's operating margin was 12.5% in fiscal year 2024, reflecting core business profitability. This is up 2.1 percentage points from the prior year.
Sterling Infra's net profit margin was 12.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.1 percentage points from the prior year.
Sterling Infra's ROE was 31.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 9.5 percentage points from the prior year.
Sterling Infra spent $70.6M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Sterling Infra invested $81.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 25.7% from the prior year.
STRL Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $689.0M+12.1% | $614.5M+42.6% | $430.9M-13.6% | $498.8M-14.4% | $582.8M+32.4% | $440.4M-9.4% | $486.0M-13.3% | $560.3M |
| Cost of Revenue | $518.8M+10.1% | $471.3M+40.2% | $336.1M-14.3% | $392.2M-16.6% | $470.1M+29.3% | $363.5M-7.8% | $394.2M-15.9% | $468.5M |
| Gross Profit | $170.2M+18.9% | $143.1M+50.9% | $94.8M-11.1% | $106.7M-5.4% | $112.7M+46.6% | $76.9M-16.2% | $91.8M-0.1% | $91.9M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $37.6M+10.6% | $34.0M-1.9% | $34.6M+6.2% | $32.6M+17.0% | $27.9M+2.0% | $27.3M+4.5% | $26.1M+3.5% | $25.2M |
| Operating Income | $125.3M+19.8% | $104.6M+86.5% | $56.1M-9.9% | $62.3M-14.4% | $72.7M+72.7% | $42.1M-24.5% | $55.8M-2.4% | $57.1M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $30.5M+11.5% | $27.4M+81.4% | $15.1M-60.7% | $38.4M+113.9% | $18.0M+136.1% | $7.6M-38.4% | $12.3M-11.2% | $13.9M |
| Net Income | $92.1M+29.7% | $71.0M+79.8% | $39.5M-65.1% | $113.2M+118.2% | $51.9M+67.1% | $31.0M-22.7% | $40.2M+2.1% | $39.4M |
| EPS (Diluted) | $2.97+28.6% | $2.31+80.5% | $1.28-64.7% | $3.63+117.4% | $1.67+67.0% | $1.00-21.3% | $1.27+0.8% | $1.26 |
STRL Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B+18.6% | $2.2B+6.2% | $2.0B+0.9% | $2.0B+2.7% | $2.0B+8.1% | $1.8B+2.3% | $1.8B+3.1% | $1.7B |
| Current Assets | $963.1M-14.9% | $1.1B+13.5% | $997.7M-2.4% | $1.0B+0.5% | $1.0B+15.7% | $878.9M+3.6% | $848.0M-3.2% | $876.0M |
| Cash & Equivalents | $306.4M-56.2% | $699.4M+9.5% | $638.6M-3.8% | $664.2M+23.0% | $540.0M+12.4% | $480.4M+1.9% | $471.6M+15.2% | $409.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $580.6M+104.7% | $283.7M0.0% | $283.7M+7.2% | $264.6M-6.0% | $281.4M0.0% | $281.4M+0.1% | $281.1M+7.0% | $262.7M |
| Total Liabilities | $1.5B+18.2% | $1.2B+3.5% | $1.2B+1.5% | $1.2B-7.3% | $1.3B+10.1% | $1.2B+1.0% | $1.2B+1.3% | $1.1B |
| Current Liabilities | $966.8M+21.4% | $796.2M+5.2% | $756.8M+2.0% | $742.0M-9.6% | $820.9M+16.3% | $705.7M+4.1% | $678.2M-1.1% | $685.8M |
| Long-Term Debt | $279.5M-1.3% | $283.1M-0.2% | $283.6M-2.2% | $289.9M-4.2% | $302.5M-2.0% | $308.7M-2.0% | $315.0M-2.1% | $321.6M |
| Total Equity | $1.1B+19.2% | $881.7M+9.5% | $805.4M-0.3% | $808.1M+20.5% | $670.7M+4.0% | $644.6M+4.1% | $618.9M+6.6% | $580.3M |
| Retained Earnings | $785.1M+13.3% | $693.0M+11.4% | $622.0M+6.8% | $582.5M+42.8% | $408.0M+14.6% | $356.1M+9.6% | $325.0M+14.1% | $284.9M |
STRL Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $83.6M-2.1% | $85.4M+0.6% | $84.9M-51.3% | $174.3M+44.1% | $121.0M+143.9% | $49.6M-66.3% | $147.4M-1.8% | $150.1M |
| Capital Expenditures | $19.7M+47.4% | $13.3M-25.6% | $17.9M+14.6% | $15.6M-45.8% | $28.9M+28.7% | $22.4M+48.2% | $15.1M+45.7% | $10.4M |
| Free Cash Flow | $64.0M-11.3% | $72.1M+7.7% | $67.0M-57.8% | $158.6M+72.2% | $92.1M+239.1% | $27.2M-79.5% | $132.2M-5.4% | $139.7M |
| Investing Cash Flow | -$464.6M-3687.6% | -$12.3M+77.4% | -$54.2M+56.1% | -$123.5M-407.7% | -$24.3M-15.6% | -$21.0M+66.1% | -$62.1M-567.7% | -$9.3M |
| Financing Cash Flow | -$12.0M+3.4% | -$12.4M+77.9% | -$56.2M-62.2% | -$34.7M+6.5% | -$37.1M-88.2% | -$19.7M+14.7% | -$23.1M-142.3% | -$9.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $4.7M | $0-100.0% | $43.8M+119.2% | $20.0M-33.6% | $30.1M | $0 | $0 | $0 |
STRL Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.7%+1.4pp | 23.3%+1.3pp | 22.0%+0.6pp | 21.4%+2.1pp | 19.3%+1.9pp | 17.5%-1.4pp | 18.9%+2.5pp | 16.4% |
| Operating Margin | 18.2%+1.2pp | 17.0%+4.0pp | 13.0%+0.5pp | 12.5%0.0pp | 12.5%+2.9pp | 9.6%-1.9pp | 11.5%+1.3pp | 10.2% |
| Net Margin | 13.4%+1.8pp | 11.6%+2.4pp | 9.2%-13.5pp | 22.7%+13.8pp | 8.9%+1.9pp | 7.0%-1.2pp | 8.3%+1.2pp | 7.0% |
| Return on Equity | 8.8%+0.7pp | 8.1%+3.1pp | 4.9%-9.1pp | 14.0%+6.3pp | 7.7%+2.9pp | 4.8%-1.7pp | 6.5%-0.3pp | 6.8% |
| Return on Assets | 3.6%+0.3pp | 3.3%+1.3pp | 1.9%-3.7pp | 5.6%+3.0pp | 2.6%+0.9pp | 1.7%-0.5pp | 2.3%-0.0pp | 2.3% |
| Current Ratio | 1.00-0.4 | 1.42+0.1 | 1.32-0.1 | 1.38+0.1 | 1.240.0 | 1.250.0 | 1.25-0.0 | 1.28 |
| Debt-to-Equity | 0.27-0.1 | 0.32-0.0 | 0.350.0 | 0.36-0.1 | 0.45-0.0 | 0.48-0.0 | 0.51-0.0 | 0.55 |
| FCF Margin | 9.3%-2.5pp | 11.7%-3.8pp | 15.5%-16.3pp | 31.8%+16.0pp | 15.8%+9.6pp | 6.2%-21.0pp | 27.2%+2.3pp | 24.9% |
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Frequently Asked Questions
What is Sterling Infra's annual revenue?
Sterling Infra (STRL) reported $2.1B in total revenue for fiscal year 2024. This represents a 7.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sterling Infra's revenue growing?
Sterling Infra (STRL) revenue grew by 7.3% year-over-year, from $2.0B to $2.1B in fiscal year 2024.
Is Sterling Infra profitable?
Yes, Sterling Infra (STRL) reported a net income of $257.5M in fiscal year 2024, with a net profit margin of 12.2%.
What is Sterling Infra's earnings per share (EPS)?
Sterling Infra (STRL) reported diluted earnings per share of $8.27 for fiscal year 2024. This represents a 86.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Sterling Infra's EBITDA?
Sterling Infra (STRL) had EBITDA of $333.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Sterling Infra have?
As of fiscal year 2024, Sterling Infra (STRL) had $664.2M in cash and equivalents against $289.9M in long-term debt.
What is Sterling Infra's gross margin?
Sterling Infra (STRL) had a gross margin of 20.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Sterling Infra's operating margin?
Sterling Infra (STRL) had an operating margin of 12.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Sterling Infra's net profit margin?
Sterling Infra (STRL) had a net profit margin of 12.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Sterling Infra's return on equity (ROE)?
Sterling Infra (STRL) has a return on equity of 31.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Sterling Infra's free cash flow?
Sterling Infra (STRL) generated $416.1M in free cash flow during fiscal year 2024. This represents a 0.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Sterling Infra's operating cash flow?
Sterling Infra (STRL) generated $497.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Sterling Infra's total assets?
Sterling Infra (STRL) had $2.0B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Sterling Infra's capital expenditures?
Sterling Infra (STRL) invested $81.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Sterling Infra buy back shares?
Yes, Sterling Infra (STRL) spent $70.6M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Sterling Infra have outstanding?
Sterling Infra (STRL) had 31M shares outstanding as of fiscal year 2024.
What is Sterling Infra's current ratio?
Sterling Infra (STRL) had a current ratio of 1.38 as of fiscal year 2024, which is considered adequate.
What is Sterling Infra's debt-to-equity ratio?
Sterling Infra (STRL) had a debt-to-equity ratio of 0.36 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sterling Infra's return on assets (ROA)?
Sterling Infra (STRL) had a return on assets of 12.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Sterling Infra's Altman Z-Score?
Sterling Infra (STRL) has an Altman Z-Score of 8.83, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sterling Infra's Piotroski F-Score?
Sterling Infra (STRL) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sterling Infra's earnings high quality?
Sterling Infra (STRL) has an earnings quality ratio of 1.93x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Sterling Infra?
Sterling Infra (STRL) scores 74 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.