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Side-by-side financial comparison of GRANITE CONSTRUCTION INC (GVA) and STERLING INFRASTRUCTURE, INC. (STRL). Click either name above to swap in a different company.
GRANITE CONSTRUCTION INC is the larger business by last-quarter revenue ($1.2B vs $755.6M, roughly 1.5× STERLING INFRASTRUCTURE, INC.). STERLING INFRASTRUCTURE, INC. runs the higher net margin — 11.6% vs 4.5%, a 7.1% gap on every dollar of revenue. On growth, STERLING INFRASTRUCTURE, INC. posted the faster year-over-year revenue change (51.5% vs 19.2%). STERLING INFRASTRUCTURE, INC. produced more free cash flow last quarter ($159.7M vs $128.8M). Over the past eight quarters, GRANITE CONSTRUCTION INC's revenue compounded faster (31.7% CAGR vs 31.0%).
Granite Construction Inc. is a civil construction company and aggregate producer, a member of the S&P 600 Index based and founded in Watsonville, California, and is the parent corporation of Granite Construction Company. The company is both a heavy civil construction contractor and construction aggregate manufacturer, owning or leasing quarries in several Western states for extracting mostly sands, gravel, and crushed stone products. The company was under investigation from the SEC from 2019 ...
Sterling & Wilson is an Indian multinational engineering, procurement, and construction (EPC) company headquartered in Mumbai, Maharashtra. It operates across multiple sectors including renewable energy, data centers, diesel power generation, and mechanical, electrical, and plumbing (MEP) services. The company has delivered projects in over 30 countries, with execution teams located across Asia, the Middle East, Africa, Europe, and Australia.
GVA vs STRL — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $755.6M |
| Net Profit | $52.0M | $87.6M |
| Gross Margin | 14.4% | 21.7% |
| Operating Margin | 6.4% | 15.9% |
| Net Margin | 4.5% | 11.6% |
| Revenue YoY | 19.2% | 51.5% |
| Net Profit YoY | 25.4% | -22.6% |
| EPS (diluted) | $1.23 | $2.82 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.2B | $755.6M | ||
| Q3 25 | $1.4B | $689.0M | ||
| Q2 25 | $1.1B | $614.5M | ||
| Q1 25 | $699.5M | $430.9M | ||
| Q4 24 | $977.3M | $498.8M | ||
| Q3 24 | $1.3B | $593.7M | ||
| Q2 24 | $1.1B | $582.8M | ||
| Q1 24 | $672.3M | $440.4M |
| Q4 25 | $52.0M | $87.6M | ||
| Q3 25 | $102.9M | $92.1M | ||
| Q2 25 | $71.7M | $71.0M | ||
| Q1 25 | $-33.7M | $39.5M | ||
| Q4 24 | $41.5M | $113.2M | ||
| Q3 24 | $79.0M | $61.3M | ||
| Q2 24 | $36.9M | $51.9M | ||
| Q1 24 | $-31.0M | $31.0M |
| Q4 25 | 14.4% | 21.7% | ||
| Q3 25 | 18.2% | 24.7% | ||
| Q2 25 | 17.7% | 23.3% | ||
| Q1 25 | 12.0% | 22.0% | ||
| Q4 24 | 15.4% | 21.4% | ||
| Q3 24 | 15.9% | 21.9% | ||
| Q2 24 | 15.2% | 19.3% | ||
| Q1 24 | 8.1% | 17.5% |
| Q4 25 | 6.4% | 15.9% | ||
| Q3 25 | 10.0% | 18.2% | ||
| Q2 25 | 9.2% | 17.0% | ||
| Q1 25 | -5.7% | 13.0% | ||
| Q4 24 | 6.2% | 12.5% | ||
| Q3 24 | 8.2% | 14.7% | ||
| Q2 24 | 7.9% | 12.5% | ||
| Q1 24 | -6.4% | 9.6% |
| Q4 25 | 4.5% | 11.6% | ||
| Q3 25 | 7.2% | 13.4% | ||
| Q2 25 | 6.4% | 11.6% | ||
| Q1 25 | -4.8% | 9.2% | ||
| Q4 24 | 4.2% | 22.7% | ||
| Q3 24 | 6.2% | 10.3% | ||
| Q2 24 | 3.4% | 8.9% | ||
| Q1 24 | -4.6% | 7.1% |
| Q4 25 | $1.23 | $2.82 | ||
| Q3 25 | $1.98 | $2.97 | ||
| Q2 25 | $1.42 | $2.31 | ||
| Q1 25 | $-0.77 | $1.28 | ||
| Q4 24 | $0.99 | $3.63 | ||
| Q3 24 | $1.57 | $1.97 | ||
| Q2 24 | $0.76 | $1.67 | ||
| Q1 24 | $-0.70 | $1.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $600.2M | $390.7M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $1.2B | $1.1B |
| Total Assets | $4.0B | $2.6B |
| Debt / EquityLower = less leverage | 1.14× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $600.2M | $390.7M | ||
| Q3 25 | $547.2M | $306.4M | ||
| Q2 25 | $385.3M | $699.4M | ||
| Q1 25 | $422.8M | $638.6M | ||
| Q4 24 | $585.6M | $664.2M | ||
| Q3 24 | $472.4M | $648.1M | ||
| Q2 24 | $377.2M | $540.0M | ||
| Q1 24 | $337.3M | $480.4M |
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $740.4M | — | ||
| Q1 25 | $739.7M | — | ||
| Q4 24 | $739.0M | — | ||
| Q3 24 | $738.6M | — | ||
| Q2 24 | $738.9M | — | ||
| Q1 24 | $553.2M | — |
| Q4 25 | $1.2B | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.1B | $881.7M | ||
| Q1 25 | $993.5M | $805.4M | ||
| Q4 24 | $1.0B | $808.1M | ||
| Q3 24 | $1.0B | $716.5M | ||
| Q2 24 | $931.7M | $670.7M | ||
| Q1 24 | $946.5M | $644.6M |
| Q4 25 | $4.0B | $2.6B | ||
| Q3 25 | $4.1B | $2.6B | ||
| Q2 25 | $3.1B | $2.2B | ||
| Q1 25 | $2.9B | $2.0B | ||
| Q4 24 | $3.0B | $2.0B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $2.9B | $2.0B | ||
| Q1 24 | $2.6B | $1.8B |
| Q4 25 | 1.14× | — | ||
| Q3 25 | 1.16× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.73× | — | ||
| Q2 24 | 0.79× | — | ||
| Q1 24 | 0.58× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $179.3M | $186.1M |
| Free Cash FlowOCF − Capex | $128.8M | $159.7M |
| FCF MarginFCF / Revenue | 11.0% | 21.1% |
| Capex IntensityCapex / Revenue | 4.3% | 3.5% |
| Cash ConversionOCF / Net Profit | 3.45× | 2.12× |
| TTM Free Cash FlowTrailing 4 quarters | $330.6M | $362.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $179.3M | $186.1M | ||
| Q3 25 | $284.2M | $83.6M | ||
| Q2 25 | $1.8M | $85.4M | ||
| Q1 25 | $3.6M | $84.9M | ||
| Q4 24 | $172.8M | $174.3M | ||
| Q3 24 | $261.5M | $152.3M | ||
| Q2 24 | $-2.0M | $121.0M | ||
| Q1 24 | $24.1M | $49.6M |
| Q4 25 | $128.8M | $159.7M | ||
| Q3 25 | $257.5M | $64.0M | ||
| Q2 25 | $-27.0M | $72.1M | ||
| Q1 25 | $-28.6M | $67.0M | ||
| Q4 24 | $144.6M | $158.6M | ||
| Q3 24 | $220.2M | $138.3M | ||
| Q2 24 | $-41.0M | $92.1M | ||
| Q1 24 | $-3.8M | $27.2M |
| Q4 25 | 11.0% | 21.1% | ||
| Q3 25 | 18.0% | 9.3% | ||
| Q2 25 | -2.4% | 11.7% | ||
| Q1 25 | -4.1% | 15.5% | ||
| Q4 24 | 14.8% | 31.8% | ||
| Q3 24 | 17.3% | 23.3% | ||
| Q2 24 | -3.8% | 15.8% | ||
| Q1 24 | -0.6% | 6.2% |
| Q4 25 | 4.3% | 3.5% | ||
| Q3 25 | 1.9% | 2.9% | ||
| Q2 25 | 2.6% | 2.2% | ||
| Q1 25 | 4.6% | 4.2% | ||
| Q4 24 | 2.9% | 3.1% | ||
| Q3 24 | 3.2% | 2.4% | ||
| Q2 24 | 3.6% | 5.0% | ||
| Q1 24 | 4.1% | 5.1% |
| Q4 25 | 3.45× | 2.12× | ||
| Q3 25 | 2.76× | 0.91× | ||
| Q2 25 | 0.02× | 1.20× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | 4.17× | 1.54× | ||
| Q3 24 | 3.31× | 2.48× | ||
| Q2 24 | -0.05× | 2.33× | ||
| Q1 24 | — | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GVA
| Public | $680.2M | 58% |
| Private | $260.1M | 22% |
| Asphalt | $116.9M | 10% |
| Aggregates | $107.9M | 9% |
| Collaborative Arrangement | $7.0M | 1% |
| Performance Obligations | $3.5M | 0% |
STRL
| Lump Sum | $464.9M | 62% |
| Heavy Highway | $99.6M | 13% |
| Residential Construction | $70.4M | 9% |
| Road And Highway Builders LLC | $52.4M | 7% |
| Other Revenue | $36.6M | 5% |
| Aviation | $16.6M | 2% |
| Commercial | $11.4M | 2% |
| Related Party | $600.0K | 0% |
