Professional
Added to YB: 2026-02-23
Pitch date: 2026-02-19
STRL [bearish]
Sterling Infrastructure, Inc.
-5.19%
current return
Author Info
Snowcap Research is an activist investment and advisory firm based in London. We focus on mispriced opportunities in public markets where we seek to drive outsized returns and positive impact via active engagement. Visit their website.
Company Info
Sterling Infrastructure, Inc. engages in the provision of e-infrastructure, transportation, and building solutions in the United States.
Market Cap
$12.6B
Pitch Price
$414.00
Price Target
83.20 (-80%)
Dividend
N/A
EV/EBITDA
26.40
P/E
40.21
EV/Sales
5.69
Sector
Construction and Engineering
Category
N/A
Snowcap are SHORT Sterling Infrastructure $STRL
STRL (short): Regional excavation contractor masquerading as AI infra play. 18 data centers vs claimed '100+', #2 sub Petillo only 1 DC project, 40% rev from warehouses per ENR data. Contract wins -10% vs claimed 40% backlog CAGR. 31% gross margin vs peer 20-30%, 45% EBIT from subjective accounting revisions, 2 CFOs quit in 18mo. $550M advance payments mask 40% cash conversion. 23x EV/EBITDA vs 10x contractor peers, 60-80% downside.
Read full article (22 min)