Latest Ratios: P/E Ratio 82.8x · EV/EBITDA 48.4x · ROE 30.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $23.8B | $9.5B | $5.2B | $2.7B | $1.0B | $765M | $525M | $382M | $296M | $435M | $196M |
| Enterprise Value | $23.8B | $9.4B | $5.0B | $2.7B | $1.3B | $1.2B | $837M | $778M | $280M | $438M | $156M |
| P/E Ratio → | 82.79 | 32.65 | 20.37 | 19.80 | 9.43 | 12.23 | 12.41 | 9.58 | 11.71 | 37.86 | — |
| P/S Ratio | 9.57 | 3.81 | 2.48 | 1.39 | 0.57 | 0.54 | 0.43 | 0.34 | 0.29 | 0.45 | 0.28 |
| P/B Ratio | 21.72 | 8.57 | 6.35 | 4.40 | 2.10 | 2.12 | 1.95 | 1.73 | 1.72 | 2.97 | 1.81 |
| P/FCF | 65.69 | 26.13 | 12.61 | 6.63 | 6.34 | 6.82 | 5.83 | 14.86 | 11.26 | 32.00 | 5.82 |
| P/OCF | 54.15 | 21.54 | 10.55 | 5.73 | 4.58 | 4.82 | 4.27 | 9.29 | 7.50 | 18.90 | 4.40 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.79 | 2.34 | 1.35 | 0.74 | 0.83 | 0.68 | 0.69 | 0.27 | 0.46 | 0.23 |
| EV / EBITDA | 48.41 | 19.20 | 14.87 | 10.15 | 6.17 | 8.30 | 6.68 | 13.31 | 4.73 | 10.16 | 13.82 |
| EV / EBIT | 57.42 | 22.03 | 12.91 | 12.15 | 8.14 | 10.84 | 9.06 | 24.98 | 6.42 | 15.73 | — |
| EV / FCF | — | 26.02 | 11.90 | 6.45 | 8.27 | 10.44 | 9.30 | 30.30 | 10.65 | 32.27 | 4.65 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.1% | 22.1% | 20.1% | 17.1% | 15.5% | 14.4% | 14.6% | 9.6% | 10.6% | 9.3% | 6.4% |
| Operating Margin | 16.6% | 16.6% | 12.5% | 10.4% | 9.0% | 7.6% | 7.5% | 3.4% | 4.1% | 2.7% | -0.7% |
| Net Profit Margin | 11.7% | 11.7% | 12.2% | 7.0% | 6.0% | 4.4% | 3.4% | 3.5% | 2.4% | 1.2% | -1.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 30.0% | 30.0% | 35.5% | 25.2% | 25.4% | 19.9% | 17.3% | 20.3% | 15.8% | 9.1% | -9.1% |
| ROA | 12.4% | 12.4% | 13.4% | 8.5% | 7.8% | 5.6% | 4.4% | 5.6% | 5.3% | 3.0% | -3.3% |
| ROIC | 38.9% | 38.9% | 36.7% | 23.1% | 15.5% | 11.9% | 11.6% | 7.3% | 20.9% | 18.0% | -4.0% |
| ROCE | 28.5% | 28.5% | 21.9% | 19.2% | 16.5% | 13.6% | 14.1% | 7.9% | 14.6% | 12.0% | -3.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.32 | 0.45 | 0.64 | 1.03 | 1.31 | 1.43 | 2.02 | 0.48 | 0.62 | 0.05 |
| Debt / EBITDA | 0.71 | 0.71 | 1.11 | 1.52 | 2.32 | 3.34 | 3.07 | 7.65 | 1.39 | 2.09 | 0.48 |
| Net Debt / Equity | — | -0.04 | -0.36 | -0.12 | 0.64 | 1.13 | 1.16 | 1.79 | -0.09 | 0.02 | -0.36 |
| Net Debt / EBITDA | -0.08 | -0.08 | -0.89 | -0.28 | 1.44 | 2.88 | 2.49 | 6.78 | -0.27 | 0.08 | -3.48 |
| Debt / FCF | — | -0.11 | -0.71 | -0.18 | 1.93 | 3.62 | 3.47 | 15.44 | -0.61 | 0.26 | -1.17 |
| Interest Coverage | 21.64 | 21.64 | 15.19 | 7.50 | 7.81 | 5.60 | 3.15 | 1.87 | 3.53 | 2.84 | -1.79 |
Net cash position: cash ($391M) exceeds total debt ($350M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.01 | 1.01 | 1.38 | 1.25 | 1.34 | 1.24 | 1.12 | 1.22 | 1.69 | 1.53 | 1.20 |
| Quick Ratio | 1.01 | 1.01 | 1.38 | 1.25 | 1.34 | 1.24 | 1.12 | 1.22 | 1.67 | 1.50 | 1.17 |
| Cash Ratio | 0.38 | 0.38 | 0.90 | 0.70 | 0.41 | 0.18 | 0.23 | 0.17 | 0.55 | 0.47 | 0.31 |
| Asset Turnover | — | 0.95 | 1.04 | 1.09 | 1.20 | 1.12 | 1.25 | 1.19 | 2.15 | 2.07 | 2.29 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 293.55 | 188.03 | 174.29 |
| Days Sales Outstanding | — | 73.46 | 58.71 | 66.36 | 79.74 | 73.76 | 83.03 | 88.39 | 69.40 | 69.51 | 65.57 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 3.1% | 4.9% | 5.0% | 10.6% | 8.2% | 8.1% | 10.4% | 8.5% | 2.6% | — |
| FCF Yield | 1.5% | 3.8% | 7.9% | 15.1% | 15.8% | 14.7% | 17.2% | 6.7% | 8.9% | 3.1% | 17.2% |
| Buyback Yield | 0.3% | 0.8% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 1.6% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.3% | 0.8% | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 1.6% | 0.0% | 0.0% |
| Shares Outstanding | — | $31M | $31M | $31M | $31M | $29M | $28M | $27M | $27M | $27M | $23M |
Project execution and labor
Based on current market data, STRL trades at a forward P/E of 42.59, which, according to recent financial filings, appears to price in significant long-term growth expectations that diverge from the lower multiples typically assigned to traditional heavy civil engineering firms within the broader industrial sector.
The elevated P/E and EV/EBITDA multiples suggest that investors are increasingly viewing Sterling as a secular infrastructure enabler rather than a cyclical construction contractor. This valuation premium warrants further investigation into whether the company's backlog conversion can sustain the high growth rates implied by these multiples.
As reported in financial statements, Sterling’s ROIC has demonstrated a positive trend, reaching 10.0% in 2026Q1, which suggests that the company is successfully deploying capital into higher-margin E-Infrastructure projects that generate superior returns compared to the legacy public-sector work that previously dominated the firm's capital allocation.
The improvement in ROIC indicates that management's focus on negotiated-contract work is effectively enhancing the efficiency of the company's asset base. Investors should monitor whether this trend continues as the company scales its footprint in the competitive data center site-preparation market.
According to recent quarterly data, Sterling’s DSO has fluctuated between 56 and 76 days, which, based on reported figures, highlights the inherent volatility in project-based billing cycles and the necessity for disciplined working capital management to maintain the company's current liquidity profile during periods of rapid expansion.
The variability in collection cycles appears to be a function of the company's project mix and the timing of milestone approvals. Maintaining efficient cash conversion is essential for supporting the firm's aggressive growth strategy without necessitating external financing.
Based on the latest balance sheet data, Sterling maintains a disciplined debt-to-equity ratio of 0.29, which, as reported in recent filings, provides the company with a significant financial buffer and the capacity to pursue opportunistic acquisitions or capital returns without compromising its long-term solvency or operational stability.
The low leverage profile is a key differentiator for Sterling, particularly when compared to peers with more capital-intensive or debt-laden balance sheets. This financial strength appears to be a deliberate strategic choice that allows the firm to navigate potential industry downturns with greater resilience.
The P/B ratio of 22.51 is frequently misapplied to Sterling, as it fails to account for the company's shift toward high-margin, service-oriented infrastructure work, which, according to industry analysis, renders traditional book-value-based valuation metrics largely irrelevant for assessing the firm's true earning power and growth potential.
Investors should prioritize cash-flow-based metrics or normalized earnings multiples over book value, as the latter ignores the intangible value of Sterling's specialized labor and negotiated-contract backlog. Relying on P/B may lead to an incorrect assessment of the company's valuation relative to its actual economic performance.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying STRL stock.
Sterling Infrastructure, Inc.'s current P/E ratio is 82.8x. The historical average is 15.0x. This places it at the 100th percentile of its historical range.
Sterling Infrastructure, Inc.'s current EV/EBITDA is 48.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.1x.
Sterling Infrastructure, Inc.'s return on equity (ROE) is 30.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -13.4%.
Based on historical data, Sterling Infrastructure, Inc. is trading at a P/E of 82.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sterling Infrastructure, Inc. has 22.1% gross margin and 16.6% operating margin. Operating margin between 10-20% is typical for established companies.
Sterling Infrastructure, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.