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Fluor vs Sterling Infrastructure: revenue, profit, margins and growth compared

Fluor brought in $15.5B of revenue in fiscal 2025, Sterling Infrastructure $2.5B in fiscal 2025. Revenue changed by -5.0% at Fluor and +17.7% at Sterling Infrastructure on the year before, so Sterling Infrastructure grew faster. Fluor kept -0.3% of its revenue as net profit, Sterling Infrastructure 11.7%. Free cash flow was -$437M at Fluor and $362.7M at Sterling Infrastructure.

Side by side, latest fiscal year

FLRSTRL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$15.5B$2.5B
Revenue growth-5.0%+17.7%
Net income-$51M$290.2M
Net margin-0.3%11.7%
Free cash flow-$437M$362.7M
Free cash flow margin-2.8%14.6%
Earnings per share (diluted)-$0.31$9.38
Cash$2.1B$390.7M
Debt$1.1B$291M
Price to earningsn/a54.6
Market value$6.7B$15.7B
Dividend yieldn/an/a
Rank by revenue in sector#42 of 451 · Industrials#202 of 451 · Industrials

Over the years

Revenue
FLR FY2018: $18.9BFLR FY2019: $15.5BFLR FY2020: $15.8BFLR FY2021: $14.2BFLR FY2022: $13.7BFLR FY2023: $15.5BFLR FY2024: $16.3BFLR FY2025: $15.5BSTRL FY2018: $1BSTRL FY2019: $1.1BSTRL FY2020: $1.2BSTRL FY2021: $1.4BSTRL FY2022: $1.8BSTRL FY2023: $2BSTRL FY2024: $2.1BSTRL FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
FLR $15.5BSTRL $2.5B
Net income
FLR FY2018: $173.5MFLR FY2019: -$1.5BFLR FY2020: -$435MFLR FY2021: -$440MFLR FY2022: $145MFLR FY2023: $139MFLR FY2024: $2.1BFLR FY2025: -$51MSTRL FY2018: $25.2MSTRL FY2019: $39.9MSTRL FY2020: $42.3MSTRL FY2021: $62.6MSTRL FY2022: $106.5MSTRL FY2023: $138.7MSTRL FY2024: $257.5MSTRL FY2025: $290.2MFY18FY19FY20FY21FY22FY23FY24FY25
FLR -$51MSTRL $290.2M
Net margin
FLR FY2018: 0.9%FLR FY2019: -9.8%FLR FY2020: -2.8%FLR FY2021: -3.1%FLR FY2022: 1.1%FLR FY2023: 0.9%FLR FY2024: 13.1%FLR FY2025: -0.3%STRL FY2018: 2.4%STRL FY2019: 3.5%STRL FY2020: 3.4%STRL FY2021: 4.4%STRL FY2022: 6.0%STRL FY2023: 7.0%STRL FY2024: 12.2%STRL FY2025: 11.7%FY18FY19FY20FY21FY22FY23FY24FY25
FLR -0.3%STRL 11.7%
Revenue growth
FLR FY2019: -18.0%FLR FY2020: +2.2%FLR FY2021: -10.3%FLR FY2022: -2.9%FLR FY2023: +12.6%FLR FY2024: +5.4%FLR FY2025: -5.0%STRL FY2019: +8.5%STRL FY2020: +8.9%STRL FY2021: +15.3%STRL FY2022: +25.1%STRL FY2023: +11.5%STRL FY2024: +7.3%STRL FY2025: +17.7%FY19FY20FY21FY22FY23FY24FY25
FLR -5.0%STRL +17.7%
Free cash flow
FLR FY2018: -$48.8MFLR FY2019: $38.2MFLR FY2020: $73MFLR FY2021: -$50MFLR FY2022: -$44MFLR FY2023: $106MFLR FY2024: $664MFLR FY2025: -$437MSTRL FY2018: $26.3MSTRL FY2019: $26.7MSTRL FY2020: $90MSTRL FY2021: $112.3MSTRL FY2022: $158.2MSTRL FY2023: $414.2MSTRL FY2024: $416.2MSTRL FY2025: $362.7MFY18FY19FY20FY21FY22FY23FY24FY25
FLR -$437MSTRL $362.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Fluor and Sterling Infrastructure

Which is bigger by revenue, Fluor or Sterling Infrastructure?

Fluor is bigger by revenue: $15.5B in fiscal 2025, against $2.5B for Sterling Infrastructure in fiscal 2025.

Which keeps more of its revenue as profit, Fluor or Sterling Infrastructure?

Fluor had a net margin of -0.3% in fiscal 2025; Sterling Infrastructure had 11.7% in fiscal 2025.

Which grew revenue faster, Fluor or Sterling Infrastructure?

In their latest fiscal years revenue changed by -5.0% at Fluor and +17.7% at Sterling Infrastructure.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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