HIGHBuilt-inCustomer
58%
top four state DOTs (Transportation Solutions)
“10-K Item 1: 'The top four state DOTs in each year, accounted for 58% of the segment's revenue in 2025'”
STRL · Concentration risk · 10-K extracted
Sterling Infrastructure (STRL) concentration risks
Updated
The most significant concentration Sterling Infrastructure discloses is top four state DOTs (Transportation Solutions) at 58%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Sterling Infrastructure’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH1
MEDIUM3
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCustomer
45%
top four Building Solutions customers
“10-K Item 1: 'Building Solutions...The top four customers in each year, including their respective affiliates, accounted for 45% of the segment's revenue in 2025'”
MEDIUMOutside partyCustomer
27%
top four E-Infrastructure Solutions customers
“10-K Item 1: 'E-Infrastructure Solutions...The top four customers in each year, accounted for 27% of the segment's revenue in 2025'”
MEDIUMBuilt-inGeographic
Texas (Building Solutions)
“10-K Item 1: 'The principal geographic market for our residential business is Texas, specifically Dallas-Fort Worth, Houston and the surrounding communities.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's disclosed concentration profile spans customer and geographic dimensions across three operating segments. In Transportation Solutions, the top four state departments of transportation accounted for 58% of segment revenue in 2025, a high-share structural exposure — the public-sector, government-contract nature of the relationship makes it structural rather than a traditional commercial dependency, since state DOT contracts tend to be multi-year and governed by public procurement processes rather than by purchasing decisions at a single private buyer. That said, any reduction in state infrastructure budgets or changes in contracting priorities would be concentrated across this set of relationships. In the Building Solutions segment, the top four customers — including their respective affiliates — accounted for 45% of segment revenue in 2025, a moderate-share dependency. This is a more typical commercial customer concentration, where key homebuilder or general contractor relationships drive a meaningful but not dominant share of segment results. In the E-Infrastructure Solutions segment, the top four customers accounted for 27% of segment revenue in 2025, also a moderate-share dependency, distributed across a somewhat broader base than the other two segments. The company also discloses a geographic concentration in its residential business: the principal market for Building Solutions is Texas, specifically the Dallas-Fort Worth, Houston, and surrounding communities, a moderate structural exposure tied to Texas residential construction activity. Taken together, the concentration profile is segment-specific and diversified at the company level, but any individual segment faces meaningful customer or geographic concentration.
For the engine’s reasoning on STRL’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Engineering & Construction
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| STRL● | Sterling Infrastructure, Inc. | 1 | 3 | 0 | 4 |
| ACA | Arcosa, Inc. | 1 | 1 | 1 | 3 |
| AGX | Argan, Inc. | 1 | 0 | 3 | 4 |
| ACM | AECOM | 0 | 2 | 0 | 2 |
| BLD | TopBuild Corp. | 0 | 1 | 0 | 1 |
| APG | APi Group Corporation | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.