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Granite Construction vs Sterling Infrastructure: revenue, profit, margins and growth compared

Granite Construction brought in $4.4B of revenue in fiscal 2025, Sterling Infrastructure $2.5B in fiscal 2025. Revenue changed by +10.4% at Granite Construction and +17.7% at Sterling Infrastructure on the year before, so Sterling Infrastructure grew faster. Granite Construction kept 4.4% of its revenue as net profit, Sterling Infrastructure 11.7%. Free cash flow was $330.6M at Granite Construction and $362.7M at Sterling Infrastructure.

Side by side, latest fiscal year

GVASTRL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.4B$2.5B
Revenue growth+10.4%+17.7%
Net income$193M$290.2M
Net margin4.4%11.7%
Free cash flow$330.6M$362.7M
Free cash flow margin7.5%14.6%
Earnings per share (diluted)$3.86$9.38
Cash$529.2M$390.7M
Debt$1.3B$291M
Price to earnings29.854.6
Market value$5B$15.7B
Dividend yield0.45%n/a
Rank by revenue in sector#132 of 451 · Industrials#202 of 451 · Industrials

Over the years

Revenue
GVA FY2018: $3.3BGVA FY2019: $2.9BGVA FY2020: $3.6BGVA FY2021: $3.5BGVA FY2022: $3.3BGVA FY2023: $3.5BGVA FY2024: $4BGVA FY2025: $4.4BSTRL FY2018: $1BSTRL FY2019: $1.1BSTRL FY2020: $1.2BSTRL FY2021: $1.4BSTRL FY2022: $1.8BSTRL FY2023: $2BSTRL FY2024: $2.1BSTRL FY2025: $2.5BFY18FY19FY20FY21FY22FY23FY24FY25
GVA $4.4BSTRL $2.5B
Net income
GVA FY2018: $582KGVA FY2019: -$60.2MGVA FY2020: -$145.1MGVA FY2021: $10.1MGVA FY2022: $83.3MGVA FY2023: $43.6MGVA FY2024: $126.3MGVA FY2025: $193MSTRL FY2018: $25.2MSTRL FY2019: $39.9MSTRL FY2020: $42.3MSTRL FY2021: $62.6MSTRL FY2022: $106.5MSTRL FY2023: $138.7MSTRL FY2024: $257.5MSTRL FY2025: $290.2MFY18FY19FY20FY21FY22FY23FY24FY25
GVA $193MSTRL $290.2M
Net margin
GVA FY2018: 0.0%GVA FY2019: -2.1%GVA FY2020: -4.1%GVA FY2021: 0.3%GVA FY2022: 2.5%GVA FY2023: 1.2%GVA FY2024: 3.2%GVA FY2025: 4.4%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
GVA 4.4%STRL 11.7%
Revenue growth
GVA FY2019: -11.3%GVA FY2020: +22.2%GVA FY2021: -1.7%GVA FY2022: -5.7%GVA FY2023: +6.3%GVA FY2024: +14.2%GVA FY2025: +10.4%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
GVA +10.4%STRL +17.7%
Free cash flow
GVA FY2018: -$24.7MGVA FY2019: $4.6MGVA FY2020: $175.2MGVA FY2021: -$72.9MGVA FY2022: -$66MGVA FY2023: $43.3MGVA FY2024: $319.9MGVA FY2025: $330.6MSTRL FY2018: $26.3MSTRL FY2019: $26.7MSTRL FY2020: $90MSTRL FY2021: $112.3MSTRL FY2022: $158.2MSTRL FY2023: $414.2MSTRL FY2024: $416.2MSTRL FY2025: $362.7MFY18FY19FY20FY21FY22FY23FY24FY25
GVA $330.6MSTRL $362.7M

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

Questions about Granite Construction and Sterling Infrastructure

Which is bigger by revenue, Granite Construction or Sterling Infrastructure?

Granite Construction is bigger by revenue: $4.4B in fiscal 2025, against $2.5B for Sterling Infrastructure in fiscal 2025.

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

Granite Construction had a net margin of 4.4% in fiscal 2025; Sterling Infrastructure had 11.7% in fiscal 2025.

Which grew revenue faster, Granite Construction or Sterling Infrastructure?

In their latest fiscal years revenue changed by +10.4% at Granite Construction 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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