Filing Flows › Sterling Infrastructure (STRL) › Q4 2025
Sterling Infrastructure (STRL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Sterling Infrastructure (STRL) reported revenue of $756M for the fourth quarter 2025 (Q4 2025), +51% from a year earlier and +10% from the quarter before. Operating margin was 15.9%, net earnings $87.6M (11.6% of revenue).
Sterling Infrastructure, Q4 2025: revenue $756M (+52% year over year), operating margin 15.9%, net earnings $87.6M, operating cash flow $186M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $756M | +10% | +51% |
| Gross profit | $164M | -4% | +54% |
| Operating profit | $120M | -4% | +93% |
| Net earnings | $87.6M | -5% | -23% |
| Operating cash flow | $186M | +122% | +7% |
| Free cash flow | $160M | +150% | +0.7% |
What changed
Revenue was $755.6M in Q4 2025, up 51% year over year and up 10% from the previous quarter.
Gross margin was 21.7%, up 0.3 points from a year earlier. Operating profit was $120.0M, a 15.9% margin (up 3.4 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, above the 12% margin then. Operating expenses fell 1% while revenue rose 51%. Net earnings were $87.6M, down 23% year over year. The effective tax rate was 22.0%.
Operating cash flow was $186.1M (up 7% year over year), 203% of net income including minority interests. Non-cash charges added back $22.6M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $65.8M. Capital expenditures of $26.4M left free cash flow of $159.7M.
Questions
What was Sterling Infrastructure's revenue in the fourth quarter 2025?
Sterling Infrastructure (STRL) reported revenue of $756M for the fourth quarter 2025 (Q4 2025), +51% from a year earlier and +10% from the quarter before.
Was Sterling Infrastructure profitable in the fourth quarter 2025?
Operating profit was $120M (15.9% of revenue) and net earnings $87.6M.