IES Holdings vs Sterling Infrastructure
IES Holdings is the larger business, with $3.37bn of revenue in fiscal 2025 against $2.49bn for Sterling Infrastructure (1.4 times as much). Sterling Infrastructure grew faster (17.7% against 16.9%). Sterling Infrastructure kept more of each dollar of sales as profit: a net margin of 11.7% against 9.1%. IES Holdings carries less debt relative to equity (0.0% against 26.4%).
| Latest fiscal year | IES HoldingsIESC, 2025 | Sterling InfrastructureSTRL, 2025 |
|---|---|---|
| Revenue | $3.37bn | $2.49bn |
| Revenue growth | 16.9% | 17.7% |
| Net income | $306m | $290m |
| Operating margin | 11.4% | 16.3% |
| Net margin | 9.1% | 11.7% |
| Return on equity | 40.9% | 30.3% |
| Free cash flow | $219m | $363m |
| Cash | $127m | $391m |
| Total debt | $0 | $293m |
| Debt to equity | 0.0% | 26.4% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $41.6m | $74.2m |
| Employees | 10,283 | 4,400 |
| Market value | $4.03bn | $11.02bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 53 (Moderate) | 44 (Weak) |
| Insider trades, 12 months | 0 buys, 144 sales | 0 buys, 12 sales |