Sterling Infrastructure, Inc. (STRL) Key Metrics
STRL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.98B
- Enterprise value
- $15.67B
- P/E (TTM)
- 30.6 10-yr median 12.4
- Forward P/E
- 19.6
- PEG ratio
- 0.63
- Price / sales
- 3.8 10-yr median 0.5
- Price / book
- 11.6 10-yr median 2.1
- EV / EBITDA
- 22.1 10-yr median 9.7
- Dividend yield
- —
- Beta
- 1.86
STRL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSTRL valuation Price multiples at each fiscal year-end price.
STRL returns How much profit the business earns on the capital it uses.
STRL per-share figures Results divided by the shares outstanding at year-end.
STRL financial health Debt, liquidity and how easily interest is covered.
STRL efficiency & capital use Working capital cycle and where the cash goes.
STRL valuation history
STRL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
STRL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
STRL cash returned to shareholders
STRL price vs earnings per share
STRL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $9.48B | $5.25B | $2.74B | $1.00B | $765.4M | $524.7M | $381.8M | $296.1M | $434.9M | $195.8M |
| Enterprise value | $9.44B | $4.95B | $2.67B | $1.31B | $1.17B | $837.3M | $778.5M | $280.2M | $438.5M | $156.4M |
| P/E ratio | 32.7 | 20.4 | 19.8 | 9.4 | 12.2 | 12.4 | 9.6 | 11.8 | 37.4 | — |
| Price / sales | 3.8 | 2.5 | 1.4 | 0.6 | 0.5 | 0.4 | 0.3 | 0.3 | 0.5 | 0.3 |
| Price / book | 8.5 | 6.5 | 4.4 | 2.1 | 2.1 | 2.0 | 1.7 | 1.8 | 3.1 | 1.8 |
| Price / free cash flow | 26.1 | 12.6 | 6.6 | 6.3 | 6.8 | 5.8 | 14.9 | 11.3 | 32.0 | 5.8 |
| Price / operating cash flow | 21.5 | 10.6 | 5.7 | 4.6 | 4.8 | 4.3 | 9.3 | 7.5 | 18.9 | 4.4 |
| EV / sales | 3.8 | 2.3 | 1.4 | 0.7 | 0.8 | 0.7 | 0.7 | 0.3 | 0.5 | 0.2 |
| EV / EBITDA | 18.7 | 11.0 | 9.6 | 6.1 | 8.2 | 6.7 | 15.0 | 4.6 | 9.8 | 13.8 |
| EV / free cash flow | 26.0 | 11.9 | 6.4 | 8.3 | 10.4 | 9.3 | 30.3 | 10.7 | 32.3 | 4.7 |
| Earnings yield | 3.1% | 4.9% | 5.1% | 10.6% | 8.2% | 8.1% | 10.4% | 8.5% | 2.7% | −4.7% |
| Free cash flow yield | 3.8% | 7.9% | 15.1% | 15.8% | 14.7% | 17.2% | 6.7% | 8.9% | 3.1% | 17.2% |
| Dividend yield | — | — | — | — | — | — | — | 0.5% | 0.0% | 0.6% |
| Shareholder yield (dividends + buybacks) | 0.8% | 1.3% | 0.3% | 0.9% | 1.0% | 0.4% | 0.8% | 2.1% | 0.0% | 0.6% |
| Share price at fiscal year-end | $306.23 | $168.45 | $87.93 | $32.80 | $26.30 | $18.61 | $14.08 | $10.89 | $16.28 | $8.46 |
| Per share | ||||||||||
| Revenue per share | $80.46 | $67.93 | $63.20 | $57.89 | $48.60 | $43.51 | $41.53 | $38.16 | $35.86 | $29.82 |
| Earnings per share | $9.38 | $8.27 | $4.44 | $3.48 | $2.15 | $1.50 | $1.47 | $0.93 | $0.43 | −$0.40 |
| Operating cash flow per share | $14.22 | $15.96 | $15.34 | $7.17 | $5.46 | $4.36 | $1.52 | $1.45 | $0.86 | $1.92 |
| Free cash flow per share | $11.72 | $13.36 | $13.27 | $5.18 | $3.86 | $3.19 | $0.95 | $0.97 | $0.51 | $1.45 |
| Cash per share | $12.63 | $21.33 | $15.11 | $6.06 | $2.23 | $2.58 | $1.86 | $3.60 | $3.24 | $1.94 |
| Book value per share | $35.82 | $25.94 | $19.83 | $15.53 | $12.33 | $9.48 | $8.11 | $6.05 | $5.29 | $4.64 |
| Tangible book value per share | −$1.01 | $7.29 | $0.30 | −$2.85 | −$6.97 | −$6.02 | −$8.42 | $1.35 | $0.42 | −$0.10 |
| Dividends per share | — | — | — | — | — | — | — | $0.05 | $0.00 | $0.05 |
| Capex per share | $2.50 | $2.60 | $2.06 | $1.99 | $1.60 | $1.17 | $0.57 | $0.48 | $0.35 | $0.47 |
| Debt per share | $11.31 | $11.86 | $12.78 | $16.07 | $16.20 | $13.66 | $16.49 | $3.02 | $3.37 | $0.23 |
| Shares outstanding | 30.9M | 31.1M | 31.2M | 30.6M | 29.1M | 28.2M | 27.1M | 27.2M | 26.7M | 23.1M |
| Change in shares outstanding | −0.6% | −0.2% | +2.1% | +5.0% | +3.2% | +4.0% | −0.3% | +1.8% | +15.4% | +19.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 30.3% | 36.1% | 25.4% | 25.5% | 20.0% | 17.4% | 20.8% | 16.5% | 9.3% | −9.1% |
| Return on invested capital (ROIC) | 39.7% | 38.5% | 23.3% | 14.6% | 11.5% | 10.7% | 9.9% | 27.4% | 24.4% | −4.2% |
| Return on assets (ROA) | 12.4% | 13.4% | 8.5% | 7.8% | 5.6% | 4.4% | 5.6% | 5.3% | 3.0% | −3.3% |
| Return on tangible assets | 19.4% | 17.7% | 11.6% | 11.7% | 8.9% | 7.8% | 8.0% | 7.1% | 3.5% | −4.8% |
| Free cash flow margin | 14.6% | 19.7% | 21.0% | 8.9% | 7.9% | 7.3% | 2.3% | 2.5% | 1.4% | 4.9% |
| Income quality (OCF / net income) | 1.52 | 1.93 | 3.45 | 2.06 | 2.54 | 2.90 | 1.03 | 1.57 | 1.98 | — |
| Financial health | ||||||||||
| Total debt | $349.9M | $369.3M | $398.9M | $491.2M | $471.5M | $385.2M | $447.2M | $82.0M | $90.1M | $5.4M |
| Cash & short-term investments | $390.7M | $664.2M | $471.6M | $185.3M | $64.8M | $72.7M | $50.5M | $98.0M | $86.6M | $44.8M |
| Net debt | −$40.8M | −$294.9M | −$72.7M | $305.9M | $406.7M | $312.5M | $396.6M | −$16.0M | $3.6M | −$39.4M |
| Debt / equity | 0.32 | 0.46 | 0.64 | 1.03 | 1.31 | 1.44 | 2.03 | 0.50 | 0.64 | 0.05 |
| Debt / assets | 0.13 | 0.18 | 0.22 | 0.33 | 0.37 | 0.39 | 0.47 | 0.17 | 0.19 | 0.02 |
| Net debt / EBITDA | −0.08 | −0.65 | −0.26 | 1.44 | 2.86 | 2.50 | 7.64 | −0.26 | 0.08 | −3.47 |
| Current ratio | 1.01 | 1.38 | 1.25 | 1.34 | 1.24 | 1.12 | 1.22 | 1.69 | 1.53 | 1.20 |
| Quick ratio | 1.01 | 1.38 | 1.25 | 1.34 | 1.24 | 1.12 | 1.22 | 1.67 | 1.50 | 1.17 |
| Interest coverage | 20.9 | 10.7 | 7.0 | 7.8 | 5.5 | 3.2 | 2.3 | 3.5 | 2.7 | -1.8 |
| Working capital | $12.0M | $279.9M | $169.8M | $150.6M | $82.9M | $39.7M | $64.0M | $123.4M | $96.2M | $29.3M |
| Invested capital | $1.07B | $513.2M | $546.2M | $780.5M | $765.5M | $579.8M | $616.6M | $148.4M | $144.9M | $68.0M |
| Tangible asset value | −$33.5M | $245.5M | $14.3M | −$84.0M | −$201.3M | −$168.2M | −$227.0M | $44.6M | $16.1M | −$1.6M |
| Net current asset value | −$492.9M | −$186.6M | −$332.2M | −$393.9M | −$466.8M | −$352.1M | −$371.0M | −$7.7M | −$38.6M | −$17.8M |
| Graham number | $86.93 | $69.47 | $44.53 | $34.89 | $24.44 | $17.89 | $16.38 | $11.22 | $7.20 | — |
| Graham net-net per share | −$24.58 | −$9.28 | −$14.09 | −$16.88 | −$21.38 | −$15.31 | −$17.46 | −$2.31 | −$3.42 | −$2.34 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $1.4M | $0 | $1.1M |
| Share buybacks (net) | $74.2M | $70.6M | $9.6M | $9.4M | $7.3M | $2.0M | $3.2M | $4.7M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | — | 5.4% | 0.0% | — |
| Dividends + buybacks / free cash flow | 20.5% | 17.0% | 2.3% | 6.0% | 6.5% | 2.2% | 12.5% | 23.1% | 0.0% | 3.2% |
| Capex / revenue | 3.1% | 3.8% | 3.3% | 3.4% | 3.3% | 2.7% | 1.4% | 1.3% | 1.0% | 1.6% |
| Capex / operating cash flow | 17.6% | 16.3% | 13.5% | 27.8% | 29.4% | 26.7% | 37.5% | 33.4% | 40.9% | 24.5% |
| Capex / depreciation | 1.00 | 1.18 | 1.12 | 1.17 | 1.36 | 1.00 | 0.74 | 0.79 | 0.55 | 0.68 |
| Stock-based compensation / revenue | 1.0% | 0.9% | 0.7% | 0.7% | 0.8% | 0.9% | 0.3% | 0.3% | 0.3% | 0.3% |
| SG&A / revenue | 6.2% | 5.6% | 5.0% | 4.9% | 4.9% | 5.2% | 4.4% | 4.9% | 5.0% | 5.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 61.7 | 60.3 | 68.9 | 69.4 | 72.9 | 82.1 | 76.2 | 66.8 | 58.4 | 65.0 |
| Days of inventory on hand | — | — | — | — | 0.0 | 0.0 | 0.6 | 1.5 | 1.7 | 1.8 |
| Days payables outstanding | 34.0 | 29.9 | 29.9 | 28.6 | 31.3 | 40.6 | 42.5 | 38.7 | 34.5 | 35.6 |
| Cash conversion cycle (days) | 27.7 | 30.4 | 39.0 | 40.7 | 41.5 | 41.5 | 34.3 | 29.6 | 25.6 | 31.2 |
| Receivables turnover | 5.92 | 6.06 | 5.29 | 5.26 | 5.01 | 4.45 | 4.79 | 5.47 | 6.25 | 5.61 |
| Payables turnover | 10.74 | 12.23 | 12.21 | 12.74 | 11.65 | 9.00 | 8.59 | 9.42 | 10.57 | 10.26 |
| Inventory turnover | — | — | — | — | 1,210,842,000.00 | 1,047,108,000.00 | 644.81 | 238.39 | 208.64 | 207.04 |
| Asset turnover | 1.07 | 1.10 | 1.21 | 1.30 | 1.26 | 1.27 | 1.57 | 2.19 | 2.50 | 2.43 |
| Average receivables | $420.7M | $349.4M | $372.6M | $336.2M | $282.4M | $275.9M | $235.0M | $189.9M | $153.2M | $123.0M |
| Average payables | $178.6M | $138.2M | $133.9M | $117.3M | $104.0M | $116.4M | $118.5M | $98.4M | $82.2M | $63.0M |
| Average inventory | — | — | — | — | $1 | $1 | $1.6M | $3.9M | $4.2M | $3.1M |
| Intangibles / total assets | 43.3% | 28.6% | 33.8% | 38.2% | 44.5% | 44.5% | 47.2% | 26.5% | 28.1% | 36.3% |
Computed from STRL's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
STRL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Sterling Infrastructure traded at 32.7 times earnings, against a 10-year median of 12.4. Based on the latest twelve months, the trailing P/E is 30.6 and the forward P/E is 19.6. Sterling Infrastructure earned a return on equity of 30.3% and a return on invested capital of 39.7% in fiscal 2025. It ended the year with $349.9 million of debt and $390.7 million in cash and short-term investments, a net cash position of $40.8 million. It returned $74.2 million to shareholders: $0 in dividends and $74.2 million in share buybacks, 20% of free cash flow. The share count rose 33.7% from 23.1M to 30.9M over 9 years.
See the STRL income statement, the STRL chart for price history, or the STRL stock overview for the latest quote and news.
STRL key metrics FAQ
What is Sterling Infrastructure's P/E ratio?
Sterling Infrastructure's trailing P/E ratio is 30.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 19.6. At the end of fiscal 2025 it was 32.7, compared with a 10-year median of 12.4.
What is Sterling Infrastructure's EV/EBITDA?
Sterling Infrastructure's enterprise value was 18.7 times EBITDA at the end of fiscal 2025 (enterprise value $9.4 billion, EBITDA $505.4 million); the current EV/EBITDA is 22.1.
What is Sterling Infrastructure's return on equity?
Sterling Infrastructure's return on equity (ROE) was 30.3% in fiscal 2025: net income of $290.2 million on average shareholders' equity of $958.3 million.
What is Sterling Infrastructure's ROIC?
Sterling Infrastructure's return on invested capital was 39.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Sterling Infrastructure have?
Sterling Infrastructure had total debt of $349.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.32 and more cash than debt.
Does Sterling Infrastructure buy back its shares?
Yes. Sterling Infrastructure spent $74.2 million on net share repurchases in fiscal 2025 Shares outstanding changed −0.6% over the year, to 30.9M..
What is Sterling Infrastructure's free cash flow yield?
Sterling Infrastructure generated $362.7 million of free cash flow in fiscal 2025, a free cash flow yield of 3.8% on its market value at year-end ($9.5 billion).
What is Sterling Infrastructure's current ratio?
Sterling Infrastructure's current ratio was 1.01 at the end of fiscal 2025: current assets were 1.01 times current liabilities.