STRL on Nasdaq

STERLING INFRASTRUCTURE, INC.

American heavy construction other than bldg const - contractors company. Summary from the record

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Last updated Oct 19, 2026.

Overview

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  • TickerSTRL on Nasdaq1
  • IndustryHeavy Construction Other Than Bldg Const - Contractors1
  • HeadquartersThe Woodlands, Texas1
  • Incorporated inDE2
  • Business address1800 Hughes Landing Blvd., Suite 250, The Woodlands, Tx 773802
  • Filer categoryLarge accelerated filer2

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Sterling Infrastructure, Inc. (“Sterling” or “the Company”) operates through a variety of subsidiaries within three segments specializing in E-Infrastructure, Transportation and Building Solutions in the United States, primarily across the Southern, Northeastern, Mid-Atlantic and Rocky Mountain regions and the Pacific Islands. E-Infrastructure Solutions provides advanced, large-scale site development services and mission-critical electrical services for data centers, semiconductor fabrication, manufacturing, distribution centers, warehousing, power generation and more. Transportation Solutions includes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, rail and storm drainage systems. Building Solutions includes residential and commercial concrete foundations for single-family and multi-family homes, parking structures, elevated slabs, other concret…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

23.0%Gross margin4
16.3%Operating margin4
11.7%Net margin4
17.7%Revenue growth, 20254
26.2%Return on equity4
0.25×Debt to equity4
$362.7MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

E-Infrastructure Solutions brought in 59% of the revenue STERLING INFRASTRUCTURE, INC. broke down this way in fiscal 2025.

  1. E-Infrastructure Solutions$1.5B459%up 59% from 2024
  2. Transportation Solutions$640.7M426%down 18% from 2024
  3. Building Solutions$382.6M415%down 6% from 2024
Business segments by year
Business segments202320242025
E-Infrastructure Solutions$937.4M$923.7M$1.5B
Transportation Solutions$630.9M$783.7M$640.7M
Building Solutions$403.9M$408.4M$382.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue77¢$1.9B
  • Other costs7¢$183.4M
  • Income tax4¢$98.8M
  • Profit12¢$290.2M

Out of $2.5B in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Capital spending18¢$77.3M
  • Share buybacks17¢$74.2M
  • Kept or used elsewhere66¢$288.5M

Out of $440.0M of cash from operations.4

Financial statements

Revenue56784$2.5B in 2025+121% since 2019
0$1.0B$2.0B$3.0B2019: $1.1B$1.1B20192020: $1.2B$1.2B2020+9%2021: $1.4B$1.4B2021+15%2022: $1.8B$1.8B2022+25%2023: $2.0B$2.0B2023+11%2024: $2.1B$2.1B2024+7%2025: $2.5B$2.5B2025+18%
Gross profit56784$572.3M in 2025+431% since 2019
0$200.0M$400.0M$600.0M2019: $107.8M$107.8M20192020: $179.6M$179.6M2020+67%2021: $203.5M$203.5M2021+13%2022: $274.6M$274.6M2022+35%2023: $337.6M$337.6M2023+23%2024: $426.1M$426.1M2024+26%2025: $572.3M$572.3M2025+34%
Operating income56784$405.9M in 2025+975% since 2019
0$200.0M$400.0M$600.0M2019: $37.8M$37.8M20192020: $92.6M$92.6M2020+145%2021: $107.0M$107.0M2021+16%2022: $159.9M$159.9M2022+49%2023: $205.8M$205.8M2023+29%2024: $264.6M$264.6M2024+29%2025: $405.9M$405.9M2025+53%
Net income56784$290.2M in 2025+613% since 2019
0$100.0M$200.0M$300.0M2019: $40.7M$40.7M20192020: $42.3M$42.3M2020+4%2021: $62.6M$62.6M2021+48%2022: $106.5M$106.5M2022+70%2023: $138.7M$138.7M2023+30%2024: $257.5M$257.5M2024+86%2025: $290.2M$290.2M2025+13%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Revenues$2.5B$2.1B$2.0B
Cost of revenues-$1.9B-$1.7B-$1.6B
Gross profit$572.3M$426.1M$337.6M
General and administrative expense-$154.8M-$118.4M-$98.7M
Intangible asset amortization-$22.2M-$17.0M-$15.2M
Acquisition related costs-$8.3M-$421.0K-$873.0K
Earn-out income (expense)$731.0K-$4.8M$669.0K
Other operating income (expense), net$18.2M-$20.9M-$17.7M
Operating income$405.9M$264.6M$205.8M
Interest income$22.3M$27.6M$14.1M
Interest expense-$19.8M-$25.3M-$29.3M
Gain on deconsolidation of subsidiary, net$0$91.3M$0
Income before income taxes$408.5M$358.3M$190.6M
Income tax expense-$98.8M-$87.4M-$47.8M
Net income, including noncontrolling interests$309.7M$270.9M$142.8M
Less: Net income attributable to noncontrolling interests-$19.6M-$13.5M-$4.2M
Net income attributable to Sterling common stockholders$290.2M$257.5M$138.7M
Basic (in dollars per share)$9.50$8.35$4.51
Diluted (in dollars per share)$9.38$8.27$4.44
Basic (in shares)30.5M shares30.8M shares30.8M shares
Diluted (in shares)30.9M shares31.1M shares31.2M shares

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Leadership

Who has led STERLING INFRASTRUCTURE, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Patrick T. Manning2006–2011
  2. Peter E. Mackenna2012–2014
  3. Paul J. Varello2015–2016
  4. Joseph A. Cutillo2017–now

President

  1. Joseph P. Harper Sr.2006–2012
  2. Peter E. Mackenna2014

Chief financial officer

  1. Maarten D. Hemsley2006–2007
  2. James H. Allen Jr.2008–2011
  3. Elizabeth D. Brumley2012–2013
  4. Kevan M. Blair2013–2015
  5. Thomas R. Wright2013–2015
  6. Ronald A. Ballschmiede2015–2024
  7. Sharon Villaverde2024–2025
  8. Nicholas M. Grindstaff2025–now

Chief operating officer

  1. Joseph P. Harper Sr.2006–2012
  2. Con L. Wadsworth2016–2020
  3. Dan Govin2024–now
2010201520202025
Board members and other officers (37)

Former names

  • STERLING CONSTRUCTION CO INCApr 1, 2002 to Jun 1, 20222
  • OAKHURST CO INCDec 8, 1995 to Jan 29, 20022
  • OAKHURST CAPITAL INCFeb 10, 1995 to Feb 10, 19952

Timeline

  1. May 2, 2017New chief executive Joseph A. Cutillo becomes CEO12
  2. May 11, 2015New chief executive Paul J. Varello becomes CEO13
  3. Sep 4, 2012New chief executive Peter E. Mackenna becomes CEO14
  4. Jun 16, 2006New chief executive Patrick T. Manning becomes CEO15

Filings

304 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 68 major events, 136 insider forms, 23 large holders, 56 other. The latest 20:

  1. Oct 7, 20264 EDGAR
  2. Oct 7, 20263 EDGAR
  3. Oct 5, 20268-K EDGAR
  4. Sep 23, 20264 EDGAR
  5. Sep 4, 2026SCHEDULE 13G/A EDGAR
  6. Aug 10, 20264 EDGAR
  7. Aug 4, 202610-Q EDGAR
  8. Aug 3, 20268-K EDGAR
  9. Jul 30, 2026SCHEDULE 13G/A EDGAR
  10. Jul 14, 20264 EDGAR
  11. Jul 10, 20268-K EDGAR
  12. Jul 8, 20268-K EDGAR
  13. Jun 29, 20264 EDGAR
  14. Jun 25, 2026144 EDGAR
  15. Jun 22, 20264 EDGAR
  16. Jun 9, 20268-K EDGAR
  17. May 21, 20264 EDGAR
  18. May 21, 20268-K EDGAR
  19. May 12, 20268-K EDGAR
  20. May 12, 2026S-3ASR EDGAR

The 304 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

57 open-market trades by officers, directors and large owners since October 2021: 1 buys and 56 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 25, 2026Wolf Mark D.General Counsel, Corporate SecSale2,500$888.00$2.2MForm 4
Apr 23, 2026CUTILLO JOSEPH AChief Executive OfficerSale50,000$497.57$24.9MForm 4
Mar 25, 2026CUTILLO JOSEPH AChief Executive OfficerSale50,000$453.48$22.7MForm 4
Mar 12, 2026Wilson Dwayne AndreeDirectorSale1,260$405.95$511.5KForm 4
Mar 10, 2026CUTILLO JOSEPH AChief Executive OfficerSale47,592$416.21$19.8MForm 4
Mar 9, 2026CUTILLO JOSEPH AChief Executive OfficerSale52,408$408.42$21.4MForm 4
Mar 9, 2026Dill JulieDirectorSale4,500$384.28$1.7MForm 4
Mar 5, 2026Wilson Dwayne AndreeDirectorSale1,200$412.36$494.8KForm 4
Feb 9, 2026O'Brien Dana C.DirectorSale2,000$410.00$820.0KForm 4
Feb 6, 2026O'Brien Dana C.DirectorSale2,000$395.00$790.0KForm 4
Jan 16, 2026Wilson Dwayne AndreeDirectorSale2,860$350.00$1.0MForm 4
Jun 24, 2025Wolf Mark D.General Counsel, Corporate SecSale3,500$225.87$790.5KForm 4
Jun 16, 2025O'Brien Dana C.DirectorSale10,154$206.58$2.1MForm 4
Feb 28, 2025CUTILLO JOSEPH AChief Executive OfficerBuy8,120$124.32$1.0MForm 4
Feb 26, 2025Wolf Mark D.General Counsel, Corporate SecSale2,563$122.16$313.1KForm 4
Dec 18, 2024O'Brien Dana C.DirectorSale2,000$175.89$351.8KForm 4
Sep 19, 2024BALLSCHMIEDE RONALD AEVPSale18,700$143.59$2.7MForm 4
Apr 2, 2024CUTILLO JOSEPH AChief Executive OfficerSale19,674$105.57$2.1MForm 4
Apr 1, 2024CUTILLO JOSEPH AChief Executive OfficerSale20,000$109.78$2.2MForm 4
Mar 28, 2024CUTILLO JOSEPH AChief Executive OfficerSale20,000$110.93$2.2MForm 4

All 57 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,233,353$2.7B0.0%−750,930
Vanguard Capital Management LLC1,332,730$1.1B0.0%+12,978
Vanguard Portfolio Management LLC1,308,407$1.1B0.0%−101,141
Fmr LLC1,175,991$987.1M0.0%−298,570
State Street Corp956,489$802.8M0.0%−132,033
First Trust Advisors LP895,943$752.0M0.4%+17,953
Geode Capital Management, LLC766,964$659.5M0.0%−172,318
Invesco Ltd.779,679$654.4M0.1%−409,233
Jane Street Group, LLC761,591$639.2M0.4%+754,146
Renaissance Technologies LLC672,194$564.2M0.8%−94,720
Lone Pine Capital LLC609,643$511.7M3.1%New
Morgan Stanley514,000$431.4M0.0%+46,251
Jupiter Topco LLC470,643$395.1M0.2%New
Jpmorgan Chase & Co389,576$318.2M0.0%+121,332
Jennison Associates LLC369,583$310.2M0.2%+367,602
Charles Schwab Investment Management Inc318,224$267.1M0.0%−68,311
Millennium Management LLC294,821$247.5M0.2%+269,180
Dimensional Fund Advisors LP257,325$215.9M0.0%−311,280
Northern Trust Corp251,505$211.1M0.0%−112,212
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.245,213$205.8M0.2%+5,116
Clark Capital Management Group, Inc.238,784$200.4M1.1%−80,823
Congress Asset Management Co230,412$193.4M1.2%−266,686
William Blair Investment Management, LLC223,697$187.8M0.6%−99,724
Norges Bank212,189$178.1M0.0%New
Vanguard Fiduciary Trust Co196,922$165.3M0.0%−14,981

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

9 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 7, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseSale$15,001 - $50,000+18.2%Report
Jun 16, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$15,001 - $50,000+50.8%Report
May 18, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$15,001 - $50,000+46.6%Report
Oct 30, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000−4.2%Report
Oct 3, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000−12.4%Report
Aug 15, 2025Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000−42.1%Report
Apr 9, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−191.0%Report
Mar 3, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000+234.9%Report
Jun 27, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+232.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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