Sterling Construction Company (STRL) financial statements
Sterling Construction Company reported revenue of $2.5B in fiscal 2025, up 15.3% a year over 9 years.
Net income was $290M and the operating margin 16.3%, against -0.7% in 2016.
Free cash flow was $363M, and the company returned $74M in net buybacks.
The diluted share count rose 34% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Sterling Construction Company's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $690M | $958M | $1.0B | $1.1B | $1.2B | $1.4B | $1.8B | $2.0B | $2.1B | $2.5B |
| Cost of revenue | $648M | $869M | $927M | $1.0B | $1.0B | $1.2B | $1.5B | $1.6B | $1.7B | $1.9B |
| Gross profit | $42M | $89M | $110M | $108M | $180M | $204M | $275M | $338M | $426M | $572M |
| Selling, general and admin | $37M | $47M | $48M | $49M | $64M | $69M | $86M | $99M | $118M | $155M |
| Operating income | -$5M | $26M | $43M | $38M | $93M | $107M | $160M | $206M | $265M | $406M |
| Pre-tax income | -$7M | $16M | — | — | — | — | — | — | — | — |
| Income tax | $88,000 | $118,000 | $2M | -$26M | $19M | $25M | $42M | $48M | $87M | $99M |
| Net income | -$9M | $12M | $25M | $40M | $42M | $63M | $106M | $139M | $257M | $290M |
| EPS (diluted) | -$0.40 | $0.43 | $0.93 | $1.47 | $1.50 | $2.15 | $3.48 | $4.44 | $8.27 | $9.38 |
| Diluted shares | 23M | 27M | 27M | 27M | 28M | 29M | 31M | 31M | 31M | 31M |
| Gross margin | 6.1% | 9.3% | 10.6% | 9.6% | 14.6% | 14.4% | 15.5% | 17.1% | 20.1% | 23.0% |
| Operating margin | -0.7% | 2.7% | 4.1% | 3.4% | 7.5% | 7.6% | 9.0% | 10.4% | 12.5% | 16.3% |
| Net margin | -1.3% | 1.2% | 2.4% | 3.5% | 3.4% | 4.4% | 6.0% | 7.0% | 12.2% | 11.7% |
Balance sheet
Fiscal years, from Sterling Construction Company's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $43M | $84M | $94M | $46M | $66M | $61M | $182M | $472M | $664M | $391M |
| Inventory | $4M | $5M | $3M | — | — | — | — | — | — | — |
| Total current assets | $176M | $279M | $303M | $330M | $362M | $435M | $597M | $848M | $1.0B | $1.0B |
| Property, plant and equipment | $68M | $54M | $52M | $116M | $127M | $194M | $215M | $244M | $237M | $278M |
| Goodwill | $55M | $85M | $85M | $192M | $192M | $258M | $263M | $281M | $265M | $585M |
| Total assets | $302M | $463M | $483M | $935M | $953M | $1.2B | $1.4B | $1.8B | $2.0B | $2.6B |
| Total current liabilities | $147M | $182M | $179M | $266M | $322M | $352M | $447M | $678M | $742M | $1.0B |
| Long-term debt | $2M | $86M | $79M | $391M | $291M | $429M | $399M | $315M | $290M | $276M |
| Total liabilities | $194M | $317M | $310M | $713M | $684M | $875M | $964M | $1.2B | $1.2B | $1.5B |
| Shareholders' equity | $107M | $141M | $164M | $220M | $267M | $359M | $475M | $619M | $808M | $1.1B |
| Net debt | -$37M | $6M | -$12M | $387M | $302M | $391M | $250M | -$130M | -$348M | -$100M |
Cash flow
Fiscal years, from Sterling Construction Company's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $44M | $25M | $39M | $42M | $123M | $159M | $219M | $479M | $497M | $440M |
| Capital spending | $11M | $9M | $13M | $15M | $33M | $47M | $61M | $64M | $81M | $77M |
| Free cash flow | $33M | $15M | $26M | $27M | $90M | $112M | $158M | $414M | $416M | $363M |
| Stock-based compensation | $2M | $3M | $3M | $4M | $12M | $12M | $13M | $15M | $19M | $24M |
| Share buybacks (net) | $0 | $0 | -$5M | -$3M | $0 | $0 | $0 | $0 | -$71M | -$74M |
| Net borrowing | — | -$5M | -$12M | -$88M | -$78M | -$48M | -$23M | -$93M | -$27M | -$25M |
| Free cash flow margin | 4.8% | 1.6% | 2.5% | 2.4% | 7.3% | 7.9% | 8.9% | 21.0% | 19.7% | 14.6% |
Questions
What was Sterling Construction Company's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Sterling Construction Company generate?
$363M in fiscal 2025 (operating cash flow minus capital spending).
From Sterling Construction Company's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.