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罗塞塔石碑（STEP）与STERLING INFRASTRUCTURE, INC.（STRL）财务数据对比。点击上方公司名可切换其他公司
STERLING INFRASTRUCTURE, INC.的季度营收约是罗塞塔石碑的1.4倍（$825.7M vs $586.5M），STERLING INFRASTRUCTURE, INC.净利率更高（11.6% vs -21.0%，领先32.7%），STERLING INFRASTRUCTURE, INC.同比增速更快（91.6% vs 73.0%），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 19.0%）
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
本公司是总部位于印度马哈拉施特拉邦孟买的跨国工程总承包（EPC）企业，业务覆盖可再生能源、数据中心、柴油发电、机电水暖（MEP）服务等多个领域，已在全球三十余个国家交付项目，执行团队遍布亚洲、中东、非洲、欧洲及澳大利亚。
STEP vs STRL — 直观对比
营收规模更大
STRL
是对方的1.4倍
$586.5M
营收增速更快
STRL
高出18.6%
73.0%
净利率更高
STRL
高出32.7%
-21.0%
两年增速更快
STEP
近两年复合增速
19.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $586.5M | $825.7M |
| 净利润 | $-123.5M | $96.0M |
| 毛利率 | — | 23.5% |
| 营业利润率 | -33.2% | 16.7% |
| 净利率 | -21.0% | 11.6% |
| 营收同比 | 73.0% | 91.6% |
| 净利润同比 | 35.7% | 143.1% |
| 每股收益（稀释后） | $-1.55 | $3.09 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收STEPSTRL
| Q1 26 | — | $825.7M | ||
| Q4 25 | $586.5M | $755.6M | ||
| Q3 25 | $454.2M | $689.0M | ||
| Q2 25 | $364.3M | $614.5M | ||
| Q1 25 | $377.7M | $430.9M | ||
| Q4 24 | $339.0M | $498.8M | ||
| Q3 24 | $271.7M | $593.7M | ||
| Q2 24 | $186.4M | $582.8M |
净利润STEPSTRL
| Q1 26 | — | $96.0M | ||
| Q4 25 | $-123.5M | $87.6M | ||
| Q3 25 | $-366.1M | $92.1M | ||
| Q2 25 | $-38.4M | $71.0M | ||
| Q1 25 | $-18.5M | $39.5M | ||
| Q4 24 | $-192.0M | $113.2M | ||
| Q3 24 | $17.6M | $61.3M | ||
| Q2 24 | $13.3M | $51.9M |
毛利率STEPSTRL
| Q1 26 | — | 23.5% | ||
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 24.7% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.0% | ||
| Q4 24 | — | 21.4% | ||
| Q3 24 | — | 21.9% | ||
| Q2 24 | — | 19.3% |
营业利润率STEPSTRL
| Q1 26 | — | 16.7% | ||
| Q4 25 | -33.2% | 15.9% | ||
| Q3 25 | -148.8% | 18.2% | ||
| Q2 25 | -5.6% | 17.0% | ||
| Q1 25 | 2.6% | 13.0% | ||
| Q4 24 | -101.7% | 12.5% | ||
| Q3 24 | 21.3% | 14.7% | ||
| Q2 24 | 29.4% | 12.5% |
净利率STEPSTRL
| Q1 26 | — | 11.6% | ||
| Q4 25 | -21.0% | 11.6% | ||
| Q3 25 | -80.6% | 13.4% | ||
| Q2 25 | -10.5% | 11.6% | ||
| Q1 25 | -4.9% | 9.2% | ||
| Q4 24 | -56.6% | 22.7% | ||
| Q3 24 | 6.5% | 10.3% | ||
| Q2 24 | 7.2% | 8.9% |
每股收益（稀释后）STEPSTRL
| Q1 26 | — | $3.09 | ||
| Q4 25 | $-1.55 | $2.82 | ||
| Q3 25 | $-4.66 | $2.97 | ||
| Q2 25 | $-0.49 | $2.31 | ||
| Q1 25 | $-0.37 | $1.28 | ||
| Q4 24 | $-2.61 | $3.63 | ||
| Q3 24 | $0.26 | $1.97 | ||
| Q2 24 | $0.20 | $1.67 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $511.9M |
| 总债务越低越好 | $270.2M | $287.5M |
| 股东权益账面价值 | $-378.8M | $1.2B |
| 总资产 | $5.2B | $2.8B |
| 负债/权益比越低杠杆越低 | — | 0.24× |
8季度趋势，按日历期对齐
现金及短期投资STEPSTRL
| Q1 26 | — | $511.9M | ||
| Q4 25 | — | $390.7M | ||
| Q3 25 | — | $306.4M | ||
| Q2 25 | — | $699.4M | ||
| Q1 25 | — | $638.6M | ||
| Q4 24 | — | $664.2M | ||
| Q3 24 | — | $648.1M | ||
| Q2 24 | — | $540.0M |
总债务STEPSTRL
| Q1 26 | — | $287.5M | ||
| Q4 25 | $270.2M | — | ||
| Q3 25 | $269.9M | — | ||
| Q2 25 | $269.6M | — | ||
| Q1 25 | $269.3M | — | ||
| Q4 24 | $168.9M | — | ||
| Q3 24 | $172.3M | — | ||
| Q2 24 | $172.1M | — |
股东权益STEPSTRL
| Q1 26 | — | $1.2B | ||
| Q4 25 | $-378.8M | $1.1B | ||
| Q3 25 | $-233.5M | $1.1B | ||
| Q2 25 | $153.9M | $881.7M | ||
| Q1 25 | $179.4M | $805.4M | ||
| Q4 24 | $209.8M | $808.1M | ||
| Q3 24 | $397.5M | $716.5M | ||
| Q2 24 | $366.9M | $670.7M |
总资产STEPSTRL
| Q1 26 | — | $2.8B | ||
| Q4 25 | $5.2B | $2.6B | ||
| Q3 25 | $5.3B | $2.6B | ||
| Q2 25 | $4.8B | $2.2B | ||
| Q1 25 | $4.6B | $2.0B | ||
| Q4 24 | $4.3B | $2.0B | ||
| Q3 24 | $4.0B | $2.0B | ||
| Q2 24 | $3.8B | $2.0B |
负债/权益比STEPSTRL
| Q1 26 | — | 0.24× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 0.81× | — | ||
| Q3 24 | 0.43× | — | ||
| Q2 24 | 0.47× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $27.2M | $165.6M |
| 自由现金流经营现金流 - 资本支出 | $26.7M | — |
| 自由现金流率自由现金流/营收 | 4.6% | — |
| 资本支出强度资本支出/营收 | 0.1% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 1.73× |
| 过去12个月自由现金流最近4个季度 | $18.6M | — |
8季度趋势，按日历期对齐
经营现金流STEPSTRL
| Q1 26 | — | $165.6M | ||
| Q4 25 | $27.2M | $186.1M | ||
| Q3 25 | $16.2M | $83.6M | ||
| Q2 25 | $46.3M | $85.4M | ||
| Q1 25 | $-66.5M | $84.9M | ||
| Q4 24 | $27.6M | $174.3M | ||
| Q3 24 | $53.7M | $152.3M | ||
| Q2 24 | $50.2M | $121.0M |
自由现金流STEPSTRL
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $159.7M | ||
| Q3 25 | $15.9M | $64.0M | ||
| Q2 25 | $45.2M | $72.1M | ||
| Q1 25 | $-69.2M | $67.0M | ||
| Q4 24 | $27.0M | $158.6M | ||
| Q3 24 | $52.4M | $138.3M | ||
| Q2 24 | $49.6M | $92.1M |
自由现金流率STEPSTRL
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | 21.1% | ||
| Q3 25 | 3.5% | 9.3% | ||
| Q2 25 | 12.4% | 11.7% | ||
| Q1 25 | -18.3% | 15.5% | ||
| Q4 24 | 8.0% | 31.8% | ||
| Q3 24 | 19.3% | 23.3% | ||
| Q2 24 | 26.6% | 15.8% |
资本支出强度STEPSTRL
| Q1 26 | — | 2.4% | ||
| Q4 25 | 0.1% | 3.5% | ||
| Q3 25 | 0.1% | 2.9% | ||
| Q2 25 | 0.3% | 2.2% | ||
| Q1 25 | 0.7% | 4.2% | ||
| Q4 24 | 0.2% | 3.1% | ||
| Q3 24 | 0.5% | 2.4% | ||
| Q2 24 | 0.3% | 5.0% |
现金转化率STEPSTRL
| Q1 26 | — | 1.73× | ||
| Q4 25 | — | 2.12× | ||
| Q3 25 | — | 0.91× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 2.15× | ||
| Q4 24 | — | 1.54× | ||
| Q3 24 | 3.05× | 2.48× | ||
| Q2 24 | 3.76× | 2.33× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
STRL
| E-Infrastructure Solutions | $597.7M | 72% |
| Transportation Solutions | $132.9M | 16% |
| Building Solutions | $95.1M | 12% |
