STRL financial statements

The full income statement, balance sheet, and cash-flow statement for Sterling Infrastructure Inc. (STRL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 30.7M2024-09 30.7M2024-12 30.6M2025-03 30.4M2025-06 30.4M2025-09 30.7M2025-12 30.6M2026-03 30.7M2026-06 30.6M-0.5% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.49B YoY+17.7%	2.12B YoY+7.3%	1.97B YoY+11.5%	1.77B YoY+25.1%	1.41B YoY+15.3%
	572M YoY+34.3%	426M YoY+26.2%	338M YoY+23.0%	275M YoY+34.9%	204M YoY+13.3%
Cost of revenue	1.92B YoY+13.5%	1.69B YoY+3.4%	1.63B YoY+9.3%	1.49B YoY+23.5%	1.21B YoY+15.6%
Selling, general & administrative	155M YoY+30.7%	118M YoY+20.0%	98.7M YoY+14.1%	86.5M YoY+25.1%	69.2M YoY+7.5%
General & administrative	155M YoY+30.7%	118M YoY+20.0%	98.7M YoY+14.1%	86.5M YoY+25.1%	69.2M YoY+7.5%
Amortization of intangibles	22.2M YoY+30.2%	17.0M YoY+11.9%	15.2M YoY+8.0%	14.1M YoY+23.0%	11.5M YoY+0.2%
Operating income	406M YoY+53.4%	265M YoY+28.6%	206M YoY+28.7%	160M YoY+49.4%	107M YoY+15.5%
Income tax	98.8M YoY+13.0%	87.4M YoY+82.9%	47.8M YoY+14.5%	41.7M YoY+67.7%	24.9M YoY+28.2%
	290M YoY+12.7%	257M YoY+85.7%	139M YoY+30.2%	106M YoY+69.9%	62.6M YoY+48.1%
Income from continuing operations	—	257M YoY+85.7%	139M YoY+43.4%	96.7M YoY+57.4%	61.5M YoY+42.5%
Discontinued operations	—	0.00	0.00 YoY-100.0%	9.74M YoY+720.2%	1.19M YoY+245.4%
Net income to common	—	—	—	—	62.6M YoY+48.1%
	$9.38 YoY+13.4%	$8.27 YoY+86.3%	$4.44 YoY+27.6%	$3.48 YoY+61.9%	$2.15 YoY+43.3%
EPS (basic)	$9.50 YoY+13.8%	$8.35 YoY+85.1%	$4.51 YoY+27.8%	$3.53 YoY+61.2%	$2.19 YoY+44.1%
	30.5M YoY-0.9%	30.8M YoY+0.2%	30.8M YoY+1.8%	30.2M YoY+5.6%	28.6M YoY+2.7%
	30.9M YoY-0.6%	31.1M YoY-0.2%	31.2M YoY+2.1%	30.6M YoY+5.0%	29.1M YoY+3.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.03B YoY+1.2%	1.02B YoY+20.5%	848M YoY+42.0%	597M YoY+37.4%	435M YoY+20.2%
Cash & equivalents	391M YoY-41.2%	664M YoY+40.8%	472M YoY+159.8%	182M YoY+197.9%	60.9M YoY+27.9%
Other current assets	35.2M YoY+102.8%	17.4M YoY-2.8%	17.9M YoY-38.7%	29.1M YoY+81.7%	16.0M YoY-1.6%
	2.63B YoY+30.6%	2.02B YoY+13.5%	1.78B YoY+23.3%	1.44B YoY+16.8%	1.23B YoY+29.6%
Operating lease right-of-use	58.2M YoY+10.4%	52.7M YoY-8.0%	57.2M YoY-3.7%	59.4M YoY+205.1%	19.5M YoY+17.9%
Goodwill	585M YoY+121.2%	265M YoY-5.9%	281M YoY+7.0%	263M YoY+1.7%	258M YoY+34.5%
Intangible assets	555M YoY+75.3%	316M YoY-3.7%	328M YoY+9.8%	299M YoY-1.4%	303M YoY+23.8%
Other non-current assets	17.2M YoY+0.9%	17.0M YoY-9.4%	18.8M YoY+145.7%	7.65M YoY+71.8%	4.46M YoY-59.7%
	1.02B YoY+37.8%	742M YoY+9.4%	678M YoY+51.8%	447M YoY+27.0%	352M YoY+9.3%
Accounts payable	227M YoY+73.9%	130M YoY-10.7%	146M YoY+19.8%	122M YoY+8.1%	113M YoY+18.4%
Deferred revenue	652M YoY+28.2%	509M YoY+14.6%	444M YoY+85.6%	239M YoY+101.6%	119M YoY+4.1%
Short-term & current debt	15.1M YoY-42.7%	26.4M YoY-0.4%	26.5M YoY-18.7%	32.6M YoY+39.5%	23.4M YoY-69.8%
Current lease liability	18.7M YoY-8.9%	20.5M YoY+4.4%	19.6M YoY-0.4%	19.7M YoY+200.7%	6.56M YoY-13.6%
Other current liabilities	46.8M YoY+146.4%	19.0M YoY+34.5%	14.1M YoY+57.5%	8.97M YoY-50.4%	18.1M YoY+87.8%
Finance lease liability (current)	136K YoY+7.1%	127K YoY-34.9%	195K YoY+31.8%	148K YoY+0.0%	148K YoY-21.3%
	1.53B YoY+28.3%	1.19B YoY+3.2%	1.15B YoY+19.7%	964M YoY+10.2%	875M YoY+27.9%
Long-term debt	276M YoY-4.8%	290M YoY-8.0%	315M YoY-21.0%	399M YoY-6.9%	429M YoY+47.1%
Non-current lease liability	40.2M YoY+23.8%	32.5M YoY-14.0%	37.7M YoY-5.9%	40.1M YoY+206.9%	13.1M YoY+45.9%
Operating lease liability (total)	58.9M YoY+11.2%	53.0M YoY-7.7%	57.4M YoY-4.1%	59.8M YoY+204.8%	19.6M YoY+18.6%
Finance lease liability (total)	372K YoY-25.5%	499K YoY-28.0%	693K YoY+209.4%	224K YoY-39.8%	372K YoY-33.6%
Finance lease liability	236K YoY-36.6%	372K YoY-25.3%	498K YoY+555.3%	76.0K YoY-66.1%	224K YoY-39.8%
Deferred tax liabilities	123M YoY+12.6%	109M YoY+42.5%	76.8M YoY+48.6%	51.7M YoY+180.2%	18.4M
Other non-current liabilities	65.7M YoY+295.2%	16.6M YoY+0.3%	16.6M YoY+223.9%	5.12M YoY+6.2%	4.82M YoY-54.5%
	1.11B YoY+37.2%	808M YoY+30.6%	619M YoY+30.4%	475M YoY+32.3%	359M YoY+34.2%
Common stock	315K YoY+1.0%	312K YoY+1.0%	309K YoY+1.0%	306K YoY+2.7%	298K YoY+5.3%
Additional paid-in capital	366M YoY+26.9%	288M YoY-1.8%	294M YoY+2.0%	288M YoY+2.7%	280M YoY+9.3%
Retained earnings	873M YoY+49.8%	582M YoY+79.2%	325M YoY+74.4%	186M YoY+133.2%	79.9M YoY+362.7%
Treasury stock	131M YoY+106.8%	63.1M	0.00	—	0.00 YoY-100.0%
Accumulated other comprehensive income	—	—	—	0.00 YoY+100.0%	-1.72M YoY+67.3%
Non-controlling interest	-2.08M YoY-111.3%	18.4M YoY+272.4%	4.94M YoY+54.4%	3.20M YoY+119.2%	1.46M YoY+0.1%
Total equity incl. non-controlling	1.11B YoY+33.9%	826M YoY+32.5%	624M YoY+30.6%	478M YoY+32.6%	360M YoY+34.0%
Total liabilities & equity	2.63B YoY+30.6%	2.02B YoY+13.5%	1.78B YoY+23.3%	1.44B YoY+16.8%	1.23B YoY+29.6%
	31.5M YoY+0.9%	31.2M YoY+0.8%	30.9M YoY+1.1%	30.6M YoY+2.5%	29.8M YoY+5.5%
	30.7M YoY+0.0%	30.7M YoY-0.8%	30.9M YoY+1.1%	30.6M YoY+2.5%	29.8M YoY+5.9%
	30.6M YoY+0.1%	30.6M YoY-1.0%	30.9M YoY+1.1%	30.6M YoY+2.5%	29.8M YoY+5.8%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	440M YoY-11.5%	497M YoY+3.9%	479M YoY+118.4%	219M YoY+37.9%	159M YoY+29.3%
Depreciation & amortization	77.1M YoY+12.7%	68.4M YoY+19.2%	57.4M YoY+10.3%	52.1M YoY+52.2%	34.2M YoY+4.3%
Intangible amortization	22.2M YoY+30.2%	17.0M YoY+11.9%	15.2M YoY+8.0%	14.1M YoY+23.0%	11.5M YoY+0.2%
Share-based compensation	24.2M YoY+27.2%	19.0M YoY+30.0%	14.6M YoY+14.9%	12.7M YoY+8.1%	11.8M YoY+1.1%
Deferred income taxes	13.6M YoY-52.5%	28.7M YoY+126.0%	12.7M YoY-60.9%	32.5M YoY+52.1%	21.4M YoY+30.4%
Change in receivables	—	—	—	—	54.7M YoY+540.0%
Change in payables	33.1M YoY+454.7%	-9.34M YoY-190.6%	10.3M YoY-13.3%	11.9M YoY-55.3%	26.6M YoY+162.8%
	-552M YoY-197.0%	-186M YoY-111.8%	-87.8M YoY+2.2%	-89.8M YoY+59.8%	-223M YoY-632.8%
Capital expenditure	77.3M YoY-4.5%	81.0M YoY+25.7%	64.4M YoY+5.7%	60.9M YoY+30.6%	46.7M YoY+42.0%
Free cash flow	363M YoY-12.8%	416M YoY+0.5%	414M YoY+161.8%	158M YoY+40.9%	112M YoY+24.7%
Acquisitions	482M YoY+4197.7%	11.2M YoY-78.1%	51.2M YoY+184.3%	18.0M YoY-90.0%	181M
Proceeds from sale of PP&E	5.72M YoY-43.7%	10.2M YoY-26.4%	13.8M YoY+179.0%	4.95M YoY+20.3%	4.11M YoY+73.3%
	-162M YoY-36.2%	-119M YoY-13.5%	-105M YoY-218.8%	-32.8M YoY-140.7%	80.6M YoY+214.6%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	24.9M YoY-6.3%	26.5M YoY-71.6%	93.5M YoY+300.0%	23.4M YoY-51.6%	48.3M YoY-37.9%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	74.2M YoY+5.1%	70.6M	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	0.00 YoY+100.0%	-36.0K YoY-125.0%	-16.0K	0.00 YoY+100.0%	-4.00K YoY-100.0%
Net change in cash	-273M YoY-242.0%	193M YoY-32.7%	286M YoY+196.5%	96.6M YoY+501.7%	16.1M YoY-27.3%
Interest paid	17.8M YoY-23.7%	23.4M YoY-13.4%	27.0M YoY+39.8%	19.3M YoY+12.1%	17.2M YoY-36.0%
Income taxes paid	81.1M YoY+52.8%	53.1M YoY+43.8%	36.9M YoY+558.8%	5.60M YoY+83.0%	3.06M YoY-35.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	9.38B YoY+82.0%	5.16B YoY+90.1%	2.71B YoY+172.6%	995M YoY+26.8%	785M YoY+49.5%
P/E	32.3× YoY+61.5%	20.0× YoY-3.9%	20.8× YoY+31.1%	15.9× YoY+26.8%	12.5× YoY+1.0%
P/S	3.8× YoY+54.7%	2.4× YoY+73.9%	1.4× YoY+119.0%	0.6× YoY+15.3%	0.6× YoY+29.7%
P/B	8.5× YoY+32.7%	6.4× YoY+36.5%	4.7× YoY+105.3%	2.3× YoY+4.0%	2.2× YoY+11.4%
P/FCF	25.9× YoY+108.9%	12.4× YoY+59.8%	7.8× YoY-17.3%	9.4× YoY+34.0%	7.0× YoY+19.9%
	3.1% YoY-38.1%	5.0% YoY+4.0%	4.8% YoY-23.7%	6.3% YoY-21.1%	8.0% YoY-0.9%
	3.9% YoY-52.1%	8.1% YoY-37.4%	12.9% YoY+20.9%	10.7% YoY-25.4%	14.3% YoY-16.6%
Source filing	10-K	10-K	10-K	10-K	10-K/A

About this data

Source: STRL's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all STRL filings on SEC EDGAR → Not investment advice.