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Infrastructure construction company building e-infrastructure (data centers), highways and residential-site development.
Infrastructure construction company building e-infrastructure (data centers), highways and residential-site development.
Wins contracts through bids, most at fixed or unit prices, and records revenue as work progresses, so the signed backlog shows what is coming. It has shifted from mainly road-building toward site preparation for data centers and warehouses, and has grown by buying contractors in local markets.
Moat: narrow (process know-how, scale). Local market presence and site-development expertise built through disciplined bolt-on M&A.
Headquarters: The Woodlands, Texas, US · Founded: 1955 · Employees: 4,400
Size Sterling Infrastructure (STRL) is a United States Industrials company (Engineering & Construction) with a market value of $7.71B, the 913th largest of 3,117 United States companies the cockpit tracks. Shares closed at $252.82 on 6 Nov 2026.
Performance Over six months the shares fell 70.1%, against -8.6% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 93.1% over the last twelve months (peer median +5.9%); the operating margin is 18.7% (peer median 7.7%).
Valuation It trades at 9.4× forward earnings against a peer median of 13.9× (5th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 26.6 points above its cost of capital (14.5% WACC).
Backlog Backlog (remaining performance obligations) was $4.05B at 30 Sep 2026, up 57% on a year earlier — 0.9 years of trailing revenue. Backlog detail →
Short interest Short interest is 4.2% of the free float (15 Oct 2026).
Next results Next results expected around 1 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.31B | $2.49B | $2.12B | $1.97B | $1.77B |
| Revenue growth | — | +18% | +7% | +11% | — |
| Gross profit | $996M | $550M | $409M | $322M | $260M |
| EBITDA | $908M | $491M | $333M | $264M | $211M |
| Net income | $554M | $290M | $257M | $139M | $89.8M |
| Free cash flow | $465M | $361M | $416M | $414M | $158M |
| Capital expenditure | $142M | $77.3M | $81.0M | $64.4M | $60.9M |
| Total debt | $166M | $350M | $369M | $399M | $491M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sterling Infrastructure STRL | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% |
| Construction Partners ROAD | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% |
| Granite Construction GVA | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% |
| Comfort Systems USA FIX | $35.6B | -48% | +51% | 17% | 16.2× | 12.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | STRL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -51.2% | +3.2% | lowest of 21 |
| 6-month return | -70.1% | -8.6% | lowest of 21 |
| Distance from 52-week high | -74.9% | -19.1% | lowest of 21 |
| Revenue growth (TTM) | +93.1% | +5.9% | highest of 21 |
| Operating margin | 18.7% | 7.7% | 2nd highest of 21 |
| Forward P/E | 9.4× | 13.9× | 5th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 8.8% | 5.0% | 5th most demanding of 18 |
| Growth delivered (Del g) | +11.8% | +8.7% | 4th highest of 18 |
| Hurdle (Req g minus delivered) | -3.0 pp | -6.5 pp | 6th most demanding of 18 |
| ROIC minus cost of capital | +26.6 pp | +3.9 pp | 2nd highest of 19 |
| EV / EBITDA | 8.5× | 11.0× | 5th cheapest of 16 |
| Net debt / EBITDA | -0.1× | 0.9× | 4th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sterling Infrastructure STRL | United States | $7.71B | -70% | +93% | 19% | 9.4× | 8.8% | +11.8% |
| Metallurgical Corporation of China 1618.HK | Hong Kong | $7.67B | -14% | -18% | -4% | 5.1× | 5.2% | +1.9% |
| Shimizu 1803.T | Japan | $8.30B | -35% | +6% | 6% | 7.8× | n/a | n/a |
| JSW Infrastructure JSWINFRA.NS | India | $8.33B | +20% | +17% | 36% | 46.8× | n/a | n/a |
| Stantec STN.TO | Canada | $8.42B | -16% | +10% | 10% | 16.0× | 3.9% | +11.5% |
| Aecom ACM | United States | $8.59B | -17% | -4% | 5% | 11.0× | 7.3% | +4.0% |
| Technip Energies TE.PA | France | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% | +4.6% |
| SamsungE&A 028050.KS | South Korea | $8.73B | +14% | +19% | 11% | 13.6× | -2.1% | +6.1% |
| China National Chemical Engineering 601117.SS | China | $6.68B | -15% | +2% | 5% | 6.4× | -17.3% | +11.6% |
| IES IESC | United States | $6.38B | +32% | +23% | 12% | 12.6× | 11.2% | +22.9% |
| Saipem SPM.MI | Italy | $9.38B | -9% | +2% | 4% | 27.1× | 6.9% | +16.1% |
| Dycom Industries DY | United States | $6.26B | -52% | +38% | 8% | 12.1× | 11.6% | +11.6% |
| Fluor FLR | United States | $6.22B | +7% | -5% | -2% | 14.2× | n/a | n/a |
| China State Construction International 3311.HK | Hong Kong | $6.04B | -5% | -14% | 15% | 5.0× | -8.1% | +11.8% |
| Atkinsrealis ATRL.TO | Canada | $9.94B | -7% | +15% | 7% | 19.9× | 11.4% | +9.6% |
| Tetra Tech TTEK | United States | $10.3B | +33% | -8% | 12% | 24.0× | 8.3% | +12.7% |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| Taisei 1801.T | Japan | $10.8B | -38% | +2% | 9% | 9.9× | 0.6% | +7.1% |
| Balfour Beatty BBY.L | United Kingdom | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% | +5.3% |
| Granite Construction GVA | United States | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% | +7.2% |
| Sweco SWEC-A.ST | Sweden | $5.32B | +12% | +6% | 10% | 20.6× | 5.0% | +8.7% |
Sterling Infrastructure reported $4.05B of remaining performance obligations at 30 Sep 2026, up 57% from a year earlier and down 4% from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 0.88.