{ "ok": true, "cik": "874238", "ticker": "STRL", "name": "STERLING INFRASTRUCTURE, INC.", "filings": [ { "form": "10-Q", "filed": "2026-08-04", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000103/0000874238-26-000103-index.htm" }, { "form": "8-K", "filed": "2026-08-03", "items": [ "2.02 Results of Operations and Financial Condition", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000100/0000874238-26-000100-index.htm" }, { "form": "8-K", "filed": "2026-07-10", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000095/0000874238-26-000095-index.htm" }, { "form": "8-K", "filed": "2026-07-08", "items": [ "1.01 Entry into a Material Definitive Agreement", "2.03 Creation of a Direct Financial Obligation", "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000093/0000874238-26-000093-index.htm" }, { "form": "8-K", "filed": "2026-06-09", "items": [ "7.01 Regulation FD Disclosure", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000087/0000874238-26-000087-index.htm" }, { "form": "8-K", "filed": "2026-05-21", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000083/0000874238-26-000083-index.htm" } ], "events12m": 12, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-07-10", "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000095/0000874238-26-000095-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000874238.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=874238" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up STERLING INFRASTRUCTURE, INC. ($STRL). Last filing: 10-Q, 2026-08-04. 12 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 2490049000, "revenueGrowth1y": 0.17690745057558632, "revenueGrowthPerYear": 0.1518897328204447, "yearsOfData": 5, "operatingMargin": 0.1630152659646457, "operatingMarginPrior": 0.1250720782547704, "netMargin": 0.1243851024618391, "operatingCashFlow": 439988000, "capitalSpending": 77312000, "freeCashFlow": 362676000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 390721000, "longTermDebt": 291049000, "longTermDebtChange": -0.0798935258803557, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 1414374000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 1769436000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 1972229000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 2115756000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 2490049000 } ], "totalEquity": 1108517000, "totalAssets": 2633831000, "equityRatio": 0.42087628249496645, "returnOnEquity": 0.2794048264483089, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 9.5, "sharesOutstanding": 30947000, "bookValuePerShare": 35.81985329757327, "revenuePerShare": 80.46172488447992, "range80": { "low": 2503770358.514285, "high": 3119785739.8698983, "baseline": 2860475745.416395, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.06689562812815689, "classVolatility": 0.07701947805587882, "volatility": 0.0721353764205215 }, "ifPaceHeld": { "low": 2503770358.514285, "high": 3119785739.8698983 } }, "edgarette": "🔖 Exposure: revenue $2.5B (FY2025), total debt $291.0M. Experience: revenue up 17.7% on the year, up 15.2% a year over 4 years; operating margin 16.3%, up from 12.5%. Soundness: equity 42.1% of assets, return on equity 27.9%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $2.5B and $3.1B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $2.3B to $3.4B. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, heavy construction other than bldg const - contractors): operating margin 16.3% against a 4.0% median; growth 17.7% against 4.8%.", "peers": { "sic": 1600, "sicDescription": "Heavy Construction Other Than Bldg Const - Contractors", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "1600", "growth": [ 0.0482, 8 ], "opMargin": [ 0.0405, 8 ] }, "summary": "Sterling Infrastructure (STRL) grew revenue 17.7% in FY2025 to $2.5 billion, operating margin 16.3% against a 4.0% median for heavy construction other than bldg const - contractors, equity 42.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
STERLING INFRASTRUCTURE, INC. against its own record and its peers
Operating marginPeer median 4.0%16.3%Revenue, on the yearPeer median 4.8%17.7%Equity of assets42.1%Return on equity27.9%No peer group large enough for a median
", "chartHorizon": null, "backtest": { "tests": 13, "hits": 10, "rate": 0.7692307692307693, "method": "v4", "byYear": { "2013": [ 0, 1 ], "2014": [ 0, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 0, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:11:56.978Z", "hash": "a896f137c36a2bcb", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Sterling Infrastructure (STRL) grew revenue 17.7% in FY2025 to $2.5 billion, operating margin 16.3% against a 4.0% median for heavy construction other than bldg const - contractors, equity 42.1% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 2490049000, "totalDebt": 291049000, "cash": 390721000 }, "experience": { "revenueGrowth1y": 0.17690745057558632, "revenueGrowthPerYear": 0.1518897328204447, "operatingMargin": 0.1630152659646457, "operatingMarginPrior": 0.1250720782547704, "netMargin": 0.1243851024618391, "freeCashFlow": 362676000 }, "soundness": { "equityRatio": 0.42087628249496645, "returnOnEquity": 0.2794048264483089, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 1600, "sicDescription": "Heavy Construction Other Than Bldg Const - Contractors", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "1600", "growth": [ 0.0482, 8 ], "opMargin": [ 0.0405, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 2, "latest": { "filed": "2026-07-10", "url": "https://www.sec.gov/Archives/edgar/data/874238/000087423826000095/0000874238-26-000095-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 2503770358.514285, "high": 3119785739.8698983, "baseline": 2860475745.416395, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.06689562812815689, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.0721353764205215, "k": 3 }, "stress": { "low": 2310500388.595021, "high": 3381013512.740314, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 13, "hits": 10, "rate": 0.7692307692307693, "method": "v4", "byYear": { "2013": [ 0, 1 ], "2014": [ 0, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 0, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 1, 1 ], "2022": [ 1, 1 ], "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:11:56.978Z", "hash": "a896f137c36a2bcb", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000874238.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=874238" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1767, "growth3y": 0.1206, "volatility": 0.0669, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.4209, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 17.7% of revenue into operating cash; revenue growing 12.1% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 59th percentile for cash, 75th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 59, "growthPctInClass": 75, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 439988000, "investing": -551923000, "financing": -161539000, "capitalSpending": 77312000, "free": 362676000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 158932000, "free": 112281000 }, { "fiscalYearEnd": "2022-12-31", "operating": 219116000, "free": 158207000 }, { "fiscalYearEnd": "2023-12-31", "operating": 478584000, "free": 414205000 }, { "fiscalYearEnd": "2024-12-31", "operating": 497104000, "free": 416150000 }, { "fiscalYearEnd": "2025-12-31", "operating": 439988000, "free": 362676000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 390721000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 2633831000, "ladder": null, "currentRatio": 1.01, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.1767, "growth3y": 0.1206, "volatility": 0.0669, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.4209, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "later", "inside": "Turns 17.7% of revenue into operating cash; revenue growing 12.1% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 59th percentile for cash, 75th for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 59, "growthPctInClass": 75, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 439988000, "investing": -551923000, "financing": -161539000, "capitalSpending": 77312000, "free": 362676000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 158932000, "free": 112281000 }, { "fiscalYearEnd": "2022-12-31", "operating": 219116000, "free": 158207000 }, { "fiscalYearEnd": "2023-12-31", "operating": 478584000, "free": 414205000 }, { "fiscalYearEnd": "2024-12-31", "operating": 497104000, "free": 416150000 }, { "fiscalYearEnd": "2025-12-31", "operating": 439988000, "free": 362676000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 390721000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 2633831000, "ladder": null, "currentRatio": 1.01, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }