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Sterling Infrastructure, Inc. logo

Sterling Infrastructure, Inc. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Sterling Infrastructure, Inc. holds $2.8B in total assets. Shareholders' equity is $1.2B against $342.5M in total debt. Cash and equivalents total $511.9M. The current ratio is 1.10 and debt-to-equity is 0.288. Based on the Q1 2026 filing.

Total Assets$2.8BTotal Stockholders Equity$1.2BLong Term Debt$272.3MCash And Equivalents$511.9MTotal Current Assets$1.2BTotal Current Liabilities$1.1B
Latest FilingQ1 2026
Report Date2026-05-05
Market Cap$25.7B
P/E Ratio74.23
ROE34.75%

Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued expenses$36.8M$24.9M$36.6M$62M$62.7M$51.2M
Accrued Manufacturing Costs$36.8M$24.9M$36.6M$62M$62.7M$51.2M
Compensation and benefits$36.8M$24.9M$36.6M$62M$62.7M$51.2M
Other accrued liabilities$19M$22.8M$13.8M$54M$46.8M$71.1M
Current portion of long-term debt$26.4M$26.4M$15.2M$15.2M$15.1M$15.1M
Deferred revenue$508.8M$534.4M$553.2M$616.3M$652.4M$695.6M
Finance Lease Liability, Current$127K———$136K—
Finance Lease Liability Payment Due—$525K$486K$446K—$368K
Finance Lease Liability - Undiscounted Excess Amount—$57K$50K$42K—$29K
Lease Liability Payments - 2020 (Remaining Three Months)—$16.4M$10.3M$6.6M—$15.7M
Lease Liability Payments - 2021—$158K$158K$158K—$158K
Operating Lease Liability Payments - 2024 (Lessee)—$6.5M$7M$11.8M—$8.9M
Operating Lease Liability Payments - 2025 (Lessee)—$2.7M$3.4M$7.7M—$7.6M
Lease Liability Payments - Due Year Two—$157K$157K$157K—$92K
Lease Liability Payments - Due Year Three—$3.7M$4.6M$8.9M—$7.8M
Lease Liability Payments - Due Year Four—$2.7M$3.4M$7.7M—$7.6M
Lease Liability Payments - Due Year Five—$0$0$0—$0
Lease Liability Payments - Remainder of Fiscal Year—$118K$79K$39K—$118K
Operating lease liabilities, current$20.5M$19.3M$18.2M$21M$18.7M$16.2M
Operating Lease Liability Payments Due—$55.9M$51.8M$75.6M—$64M
Operating Lease Liability - Undiscounted Excess Amount—$7.2M$6.8M$11.1M—$9.3M
Total current liabilities$742M$756.8M$796.2M$966.8M$1B$1.1B

Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accrued revenue share$247.1M$285.8M$347.7M$496.1M$501.2M$513.9M
Allowance for Doubtful Accounts$0$0$0$0$0$0
Allowance for Doubtful Accounts Receivable (Current)$0$0$0$0$0$0
Cash and cash equivalents$664.2M$638.6M$699.4M$306.4M$390.7M$511.9M
Other current assets$17.4M$17.7M$23M$52.8M$35.2M$30M
Receivables from and equity in construction joint ventures - Sterling's Balance Sheets$5.8M$6.9M$8M$5.2M$6.2M$7.2M
Deferred Finance Costs, Current$1.4M$1.1M$2.3M$2M$1.8M$1.6M
Restricted cash$0$0$0$0$0$0
Total current assets$1B$997.7M$1.1B$963.1M$1B$1.2B

Equity

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Additional paid-in capital$288.4M$283.1M$287.6M$369.5M$366.1M$367.5M
Common stock312K58M58M58M58M58M
Common Stock Par Value Per Share$0.01$0.01$0.01$0.01$0.01$0.01
Common Stock Shares Issued31.2M31.2M31.2M31.5M31.5M31.5M
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively$312K$312K$312K$315K$315K$315K
Treasury Stock, Value$63.1M$99.9M$99.1M$103.7M$130.5M$146.8M
Noncontrolling interests$18.4M$21.5M$29.6M$33.9M-$2.1M$5.7M
Retained earnings$582.5M$622M$693M$785.1M$872.6M$968.6M
Total liabilities and stockholders' equity$2B$2B$2.2B$2.6B$2.6B$2.8B
Total stockholders' equity$808.1M$805.4M$881.7M$1.1B$1.1B$1.2B
Treasury stock$63.1M$99.9M$99.1M$103.7M$130.5M$146.8M

Non-Current Assets

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capitalized Contract Costs, Net$55.4M$48.7M$51.8M$102.7M$101.2M$131.7M
Deferred Tax Assets and Other Non-Current Assets$17M$17.2M$17.4M$16.1M$17.2M$17.4M
Equity method investments$107.4M$109.3M$109M$108.5M$105.8M$100.5M
Accumulated Amortization on Finance Lease Assets$1.4M$1M$1M$1.1M$1.1M$1.1M
Finite Lived Intangible Assets - Gross$392.1M$416.4M$413.9M$652.5M$652.6M$653M
Goodwill$264.6M$283.7M$283.7M$580.6M$585.2M$584.8M
Intangible assets, net$316.4M$333.7M$329.2M$561.7M$554.7M$548M
Net Investment in Lease$52.7M$48.3M$44.5M$64.2M$58.2M$53.9M
Other intangible assets—net$316.4M$333.7M$329.2M$561.7M$554.7M$548M
Operating lease right-of-use assets$52.7M$48.3M$44.5M$64.2M$58.2M$53.9M
Other non-current assets$17M$17.2M$17.4M$16.1M$17.2M$17.4M
Property, plant and equipment, net$236.8M$244.7M$244.8M$268M$278.3M$284.3M
Property, plant and equipment at cost$413.4M$430.3M$440.5M$476M$499M$518.1M
Receivables Long Term Contracts Or Programs$247.1M$285.8M$347.7M$496.1M$501.2M$513.9M
Operating lease right-of-use assets5266800000.0%6.0%6.0%6.0%5.9%5.9%
Operating Lease Right-of-Use Assets in Other Assets$52.7M$48.3M$44.5M$64.2M$58.2M$53.9M
Other non-current assets$17M$17.2M$17.4M$16.1M$17.2M$17.4M
Accumulated depreciation$176.6M$185.6M$195.7M$208M$220.8M$233.8M
Property and equipment, net$236.8M$244.7M$244.8M$268M$278.3M$284.3M
Software and Technology Licenses, Net$17M$17.2M$17.4M$16.1M$17.2M$17.4M
Total assets$2B$2B$2.2B$2.6B$2.6B$2.8B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cumulative Cost Basis$413.4M$430.3M$440.5M$476M$499M$518.1M
Decrease in Unrecognized Tax Benefits is Reasonably Possible—$1.5M$1.5M$1.5M—$1.5M
Deferred Revenue Timing Percentage—80.0%78.0%70.0%—70.0%
Accounts Receivable, Allowance for Credit Loss$0$0$0$0$0$0
Commercial insurance coverage—————$70M
Common stock, par value (in dollars per share)$0$0$0$0$0$0
Common stock, shares authorized (in shares)$58M$58M$58M$58M$58M$58M
Common stock, shares issued (in shares)$31.2M$31.2M$31.2M$31.5M$31.5M$31.5M
Common Stock, Shares, Outstanding$30.7M$30.4M$30.4M$30.7M$30.7M$30.7M
Ownership interest in subsidiaries—50.0%50.0%50.0%—50.0%
Contract asset retainage$38.1M$30.6M$28.2M$43M$40.7M$59.1M
Contract liability retainage$91.9M$97.7M$104.1M$130.3M$147.6M$158.7M
Percentage of receivables estimated to be collected in next fiscal year—70.0%70.0%60.0%—65.0%
Long-term debt, gross$317.7M$311.1M$300.5M$296.7M$292.9M$289.1M
Decrease in Unrecognized Tax Benefits is Reasonably Possible—$1.5M$1.5M$1.5M—$1.5M
Deferred income taxes$109.4M$110M$114.8M$118.6M$123.1M$125.1M
Equity method investments (Note 11)$107.4M$109.3M$109M$108.5M$105.8M$100.5M
Current maturities of long-term debt$127K$129K$131K$134K$136K$139K
Finance Lease Liability Payments Due—$525K$486K$446K—$368K
Finance Lease Liability Payments Due After Year Five—$0$0$0—$0
2027—$158K$158K$158K—$158K
Finance Lease Liability Payments Due Year Five—$0$0$0—$0
Finance Lease Liability Payments Due Year Four—$0$0$0—$0
Finance Lease Liability Payments Due Year Three—$92K$92K$92K—$0
Finance Lease Liability Payments Due Year Two—$157K$157K$157K—$92K
Finance Lease Liability Undiscounted Excess Amount—$57K$50K$42K—$29K
Finance Lease, Right-of-Use Asset, after Accumulated Amortization$566K$398K$379K$361K$361K$323K
Finance Lease, Right-of-Use Asset, Accumulated Amortization$1.4M$1M$1M$1.1M$1.1M$1.1M
Property, plant and equipment$2M$1.4M$1.4M$1.4M$1.4M$1.4M
Finite-Lived Intangible Assets, Accumulated Amortization$75.7M$82.7M$84.7M$90.7M$97.9M$105M
Gross Carrying Amount$392.1M$416.4M$413.9M$652.5M$652.6M$653M
Lessee Operating Lease Liability Payments Due—$55.9M$51.8M$75.6M—$64M
Lessee Operating Lease Liability Undiscounted Excess Amount—$7.2M$6.8M$11.1M—$9.3M
Long-Term Debt, Current Maturities, Gross$26.4M$26.4M$15.2M$15.2M$15.1M$15.1M
Noncontrolling interests in subsidiaries$18.4M$21.5M$29.6M$33.9M-$2.1M$5.7M
Operating Lease Weighted Average Discount Rate Percent$0.1$0.1$0.1$0.1$0.1$0.1
Other (including finance leases)$554K——$425K$382K$339K
Remaining performance obligations related to customer contracts that are unsatisfied or partially unsatisfied$1.7B$2.1B$2B$2.6B$3B$3.8B
Treasury stock, shares (in shares)$501K$759K$751K$747K$773K$774K
Unapproved Change Orders Amount$4M$4M$2.9M$2.9M$2.9M$2.9M
Unrecognized tax benefits—$6.7M$6.7M$5.2M—$5.2M
Remainder of Fiscal Year 2024—$16.4M$10.3M$6.6M—$15.7M
Weighted-Average Discount Rate6.9%6.9%6.9%6.9%6.9%6.9%
Weighted-Average Discount Rate - Finance Leases$0.1$0.1$0.1$0.1$0.1$0.1

Non-Current Liabilities

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Finance lease liabilities$372K$339K$305K$270K$236K$200K
Finance Lease Liabilities (Total)$499K$468K$436K$404K$372K$339K
Operating Lease Liability Payments - 2026 (Lessee)—$3.7M$4.6M$8.9M—$7.8M
Operating Lease Liability Payments - 2027 (Lessee)—$2.7M$4.6M$8.9M—$7.3M
Operating Lease Liability Payments - 2028 (Lessee)—$2.7M$3.4M$7.7M—$7.6M
Operating Lease Liability Payments - 2029 (Lessee)—$2.7M$4.6M$8.9M—$7.3M
Lease Liability Payments - Due After Year Five—$0$0$0—$0
Operating Lease Liability Payments - Thereafter (Lessee)—$7.4M$5.8M$10.6M—$4.8M
Long-term debt$289.9M$283.6M$283.1M$279.5M$275.9M$272.3M
Operating lease liabilities, non-current$32.5M$29.3M$26.7M$43.6M$40.2M$38.5M
Operating Lease Liabilities (Total)$53M$48.7M$44.9M$64.6M$58.9M$54.7M
Other Debt Including Capitalized Leases$554K——$425K$382K$339K
Other non-current liabilities$16.6M$27.9M$28.7M$68.8M$65.7M$68.8M
Total Carrying Value of Debt$317.7M$311.1M$300.5M$296.7M$292.9M$289.1M
Total liabilities$1.2B$1.2B$1.2B$1.5B$1.5B$1.6B
Unrecognized Tax Benefits—$6.7M$6.7M$5.2M—$5.2M