STERLING INFRASTRUCTURE, INC.
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
STRL$290.67+15.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents ($139,357 and $97,796 related to variable interest entities (“VIEs”)) | $306,395 | $664,195 |
| Accounts receivable ($46,966 and $17,851 related to VIEs) | 496,058 | 247,050 |
| Contract assets ($35 and $0 related to VIEs) | 102,736 | 55,387 |
| Receivables from and equity in construction joint ventures | 5,204 | 5,811 |
| Receivable from affiliate (Note 16) | — | 32,054 |
| Other current assets | 52,755 | 17,383 |
| Total current assets | 963,148 | 1,021,880 |
| Property and equipment, net | 268,033 | 236,795 |
| Investment in unconsolidated subsidiary | 108,512 | 107,400 |
| Operating lease right-of-use assets, net | 64,232 | 52,668 |
| Goodwill | 580,564 | 264,597 |
| Other intangibles, net | 561,716 | 316,390 |
| Other non-current assets, net | 16,062 | 17,044 |
| Total assets | $2,562,267 | $2,016,774 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable ($21,118 and $23,964 related to VIEs) | $198,323 | $130,420 |
| Contract liabilities ($90,958 and $51,660 related to VIEs) | 616,273 | 508,846 |
| Current maturities of long-term debt ($4 and $0 related to VIEs) | 15,154 | 26,423 |
| Current portion of long-term lease obligations | 20,980 | 20,498 |
| Accrued compensation | 62,033 | 36,774 |
| Other current liabilities | 54,030 | 18,997 |
| Total current liabilities | 966,793 | 741,958 |
| Long-term debt | 279,479 | 289,898 |
| Long-term lease obligations | 43,588 | 32,455 |
| Deferred tax liability, net | 118,616 | 109,360 |
| Other long-term liabilities | 68,796 | 16,625 |
| Total liabilities | 1,477,272 | 1,190,296 |
| Commitments and contingencies (Note 11) | ||
| Stockholders’ equity: | ||
| Common stock, par value $0.01 per share; 58,000 shares authorized, 31,455 and 31,170 shares issued and 30,708 and 30,669 shares outstanding | 315 | 312 |
| Additional paid in capital | 369,505 | 288,395 |
| Treasury stock, at cost: 747 and 501 shares | (103,745) | (63,121) |
| Retained earnings | 785,051 | 582,495 |
| Total Sterling stockholders’ equity | 1,051,126 | 808,081 |
| Noncontrolling interests | 33,869 | 18,397 |
| Total stockholders’ equity | 1,084,995 | 826,478 |
| Total liabilities and stockholders’ equity | $2,562,267 | $2,016,774 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.