PWR vs STRL: Quanta Services and Sterling Construction Company compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Quanta Services is the larger company, worth $97.8B, about 7.3 times Sterling Construction Company.
- Sterling Construction Company grew revenue faster over the last year (+90.1% vs +41.1%).
- Sterling Construction Company keeps more of each dollar of revenue as operating profit (17.5% vs 6.2%).
- On earnings, Sterling Construction Company is the cheaper stock (39.0x vs 89.5x).
- Quanta Services's price assumes faster free cash flow growth: about 20% a year, against 13% for Sterling Construction Company (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | PWR | STRL |
|---|---|---|
| Market cap | $97.8B | $13.4B |
| Share price | $705.94 | $513.00 |
| Revenue (last fiscal year) | $28.5B | $2.5B |
| Free cash flow (last fiscal year) | $1.6B | $363M |
| Revenue growth, last year | +41.1% | +90.1% |
| Revenue growth per year, last 5 fiscal years | +21.7% | +15.2% |
| Operating margin | 6.2% | 17.5% |
| Net margin | 4.0% | 12.6% |
| Return on equity | 13.8% | 31.8% |
| P/E (trailing) | 89.5x | 39.0x |
| Price / free cash flow | 60.3x | 37.0x |
| EV / EBITDA | 33.7x | 43.7x |
| FCF growth the price implies | 19.5% | 13.0% |
| Dividend yield | 0.07% | — |
| Debt / equity | 1.92x | 1.33x |
| Fundamental grade | C | C |
| Superinvestors holding it | 6 | 4 |
| Insider purchases, last 12 months | 6 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Quanta Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.0B | $197M | 5.1% |
| 2022 | $17.1B | $703M | 5.1% |
| 2023 | $20.9B | $1.1B | 5.4% |
| 2024 | $23.7B | $1.5B | 5.7% |
| 2025 | $28.5B | $1.6B | 5.7% |
Sterling Construction Company
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.4B | $112M | 7.6% |
| 2022 | $1.8B | $158M | 9.0% |
| 2023 | $2.0B | $414M | 10.4% |
| 2024 | $2.1B | $416M | 12.5% |
| 2025 | $2.5B | $363M | 16.3% |
Where the revenue comes from
Quanta Services · by segments, 2025
Electric$23.0B81%
Underground and Infrastructure$5.5B19%
Sterling Construction Company · by segments, 2025
E-Infrastructure Solutions$1.5B59%
Transportation Solutions$641M26%
Building Solutions$383M15%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open PWR in InvestinglyQuestions
Which is bigger, Quanta Services or Sterling Construction Company?
Quanta Services (PWR), at $97.8B against $13.4B.
Is PWR or STRL cheaper?
By trailing P/E, Sterling Construction Company (39.0x) is cheaper than Quanta Services (89.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, PWR or STRL?
Sterling Construction Company: revenue grew +90.1% over the last year, against +41.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.