STERLING INFRASTRUCTURE, INC.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
STRL$289.56-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets - As of December 31, 202 and
CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents ($76,154 and $97,796 related to variable interest entities (“VIEs”)) | $390,721 | $664,195 |
| Accounts receivable ($29,196 and $17,851 related to VIEs) | 501,163 | 247,050 |
| Contract assets ($5,057 and $0 related to VIEs) | 101,154 | 55,387 |
| Receivables from and equity in construction joint ventures | 6,179 | 5,811 |
| Receivable from affiliate (Note 19) | — | 32,054 |
| Other current assets | 35,245 | 17,383 |
| Total current assets | 1,034,462 | 1,021,880 |
| Property and equipment, net | 278,269 | 236,795 |
| Investment in unconsolidated subsidiary | 105,813 | 107,400 |
| Operating lease right-of-use assets, net | 58,167 | 52,668 |
| Goodwill | 585,221 | 264,597 |
| Other intangibles, net | 554,702 | 316,390 |
| Other non-current assets, net | 17,197 | 17,044 |
| Total assets | $2,633,831 | $2,016,774 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable ($22,104 and $23,964 related to VIEs) | $226,810 | $130,420 |
| Contract liabilities ($89,630 and $51,660 related to VIEs) | 652,357 | 508,846 |
| Current maturities of long-term debt | 15,146 | 26,423 |
| Current portion of long-term lease obligations | 18,679 | 20,498 |
| Accrued compensation | 62,657 | 36,774 |
| Other current liabilities | 46,805 | 18,997 |
| Total current liabilities | 1,022,454 | 741,958 |
| Long-term debt | 275,903 | 289,898 |
| Long-term lease obligations | 40,186 | 32,455 |
| Deferred tax liability, net | 123,145 | 109,360 |
| Other long-term liabilities | 65,708 | 16,625 |
| Total liabilities | 1,527,396 | 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 30,682 and 30,669 shares outstanding | 315 | 312 |
| Additional paid in capital | 366,101 | 288,395 |
| Treasury stock, at cost: 773 and 501 shares | (130,547) | (63,121) |
| Retained earnings | 872,648 | 582,495 |
| Total Sterling stockholders’ equity | 1,108,517 | 808,081 |
| Noncontrolling interests | (2,082) | 18,397 |
| Total stockholders’ equity | 1,106,435 | 826,478 |
| Total liabilities and stockholders’ equity | $2,633,831 | $2,016,774 |
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