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Sotera Health

SHC Nasdaq Health Care Services Financials FY2019–FY2025

Sotera Health's revenue rose 5.7% to $1.2 billion in fiscal 2025. Its net margin was 6.7%, up from 4.0% a year earlier. Free cash flow was $149 million, up 230.8%. The diluted share count rose 0.5%.

Last close · Oct 23, 2026

$18.10

0.2%
Value it Compare
Revenue Total sales reported in the income statement.
$1.2B
5.7% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$77.9M
75.5%
Free cash flow Cash from operations minus capital spending.
$149M
230.8%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
6.7%
0.6 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$5.2B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
31.8x
On $0.57 EPS (TTM)

About these figures. Sotera Health's income statement has no operating income line, and its 2025 10-K doesn't tag one, so 2025 operating income and operating margin are blank. Sotera Health's filings tag only its depreciation as its depreciation and amortization total in most years (its amortization of intangibles is a separate line), so depreciation and amortization, EBITDA and the ratios built on it are left blank.

What Sotera Health does

No business description yet.

Legal name
SOTERA HEALTH COMPANY
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001822479-26-000015
0001822479

Revenue and margins

Sotera Health had $1.2B of revenue in fiscal 2025, up 5.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $149M in fiscal 2025, 12.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Sotera Health returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 0.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Sotera Health yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.9B and divides by 286.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 31.8x · peers 37.3x · sector 27.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Sotera Health can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $107M$395M$296M$277M$345M
Debt incl. finance leases $1.8B$2.0B$2.3B$2.3B$2.2B
Debt / equity 3.1x5.7x5.2x5.7x3.7x
Interest coverage 4.4x3.3x1.6x1.7x1.9x
Current ratio 2.2x0.8x2.4x2.8x2.5x
Quick ratio 1.8x0.8x2.2x2.5x2.2x
Total assets $2.8B$3.1B$3.1B$3.1B$3.3B
Total liabilities $2.2B$2.8B$2.7B$2.7B$2.7B
Shareholders' equity $586M$350M$444M$405M$606M
Net debt (− = net cash) $1.7B$1.6B$2.0B$2.0B$1.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$1.6B

8 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 17, 2026 Michael B. Petras Jr.Executive Chairman, Director Sold 1,144,515 $18.50 $21.2M Form 4
Aug 7, 2026 Michael P RutzPresident of Sterigenics Sold 150,000 $18.84 $2.8M Form 4
May 13, 2026 Gtcr Fund Xi/c LpDirector, 10% owner Sold 12,735,301 $15.17 $193M Form 4
May 13, 2026 Warburg Pincus XI L.P.Director, 10% owner Sold 19,102,952 $15.17 $290M Form 4
Mar 6, 2026 Gtcr Co-Invest Xi LpDirector, 10% owner Sold 10,000,000 $15.27 $153M Form 4
Mar 6, 2026 Warburg Pincus Partners II L.P.Director, 10% owner Sold 15,000,000 $15.27 $229M Form 4
Dec 8, 2025 Michael B. Petras Jr.Chairman & CEO, Director Sold 750,000 $16.45 $12.3M Form 4
Dec 3, 2025 Gtcr Fund Xi/a LpDirector, 10% owner Sold 6,480,000 $16.33 $106M Form 4
Dec 3, 2025 Warburg Pincus Partners GP LLCDirector, 10% owner Sold 9,720,000 $16.33 $159M Form 4
Nov 10, 2025 Gtcr Fund Xi/a LpDirector, 10% owner Sold 12,000,000 $15.65 $188M Form 4
Nov 10, 2025 Warburg Pincus Partners II L.P.Director Sold 18,000,000 $15.65 $282M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✕ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✕ ✕ ✓
Revenue rose relative to assets ✕ ✓ ✓
F-score 3 / 95 / 97 / 9
Accruals ratio 6.4%−5.8%−6.6%
Altman Z'' 0.770.881.08

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Sotera Health SHC $5.2B 5.7% — 12.8% 6.7% 31.8x 7
Tempus AI TEM $13.5M 83.4% −19.9% −18.8% — — 5 Compare →
CorVel CRVL $4.3B 7.0% — 11.5% — 37.3x — Compare →
Addus HomeCare ADUS $2.3B 23.2% 9.7% 7.3% 9.4% 21.3x 5 Compare →
Lifestance Health LFST $5.0B 13.9% 1.7% 7.7% 1.2% 99.5x 7 Compare →

7 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $778M $818M $932M $1.0B $1.0B $1.1B $1.2B
Gross profit $395M $444M $519M $557M $577M $602M $646M
Operating income $184M $206M $257M $248M $277M $298M —
Interest expense $151M $211M $58.8M $75.8M $174M $180M $164M
Pretax income −$0.9M −$38.9M $176M −$243M $106M $114M $148M
Income tax $19.5M −$1.4M $58.6M −$9.5M $54.7M $69.5M $69.6M
Net income −$20.8M −$38.6M $117M −$234M $51.4M $44.4M $77.9M
Diluted EPS −$0.09 −$0.16 $0.41 −$0.83 $0.18 $0.16 $0.27
Diluted shares 0.23B 0.24B 0.28B 0.28B 0.28B 0.28B 0.29B
Cash flow
Cash from operations $149M $121M $282M $278M −$148M $224M $287M
Capital expenditure $57.3M $53.5M $102M $182M $215M $179M $138M
Free cash flow $91.8M $67.1M $179M $95.6M −$363M $45.1M $149M
Stock-based compensation $6.9M $11.0M $13.9M $21.2M $32.2M $36.8M $30.9M
Acquisitions $0.0M $0.0M $13.5M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $34.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $691M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $691M $34.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Balance sheet
Cash and short-term investments $63.0M $102M $107M $395M $296M $277M $345M
Total debt — $1.8B $1.7B $1.9B $2.2B $2.2B $2.1B
Finance lease liabilities $0.0M $36.1M $42.0M $58.7M $72.6M $98.2M $97.3M
Current assets — $315M $346M $645M $557M $526M $613M
Current liabilities — $141M $161M $792M $231M $191M $250M
Inventory $0.0M $34.1M $54.3M $37.1M $48.3M $49.2M $54.4M
Property and equipment, net — $610M $651M $775M $947M $1.0B $1.1B
Total assets — $2.8B $2.8B $3.1B $3.1B $3.1B $3.3B
Total liabilities — $2.3B $2.2B $2.8B $2.7B $2.7B $2.7B
Shareholders' equity −$641M $452M $586M $350M $444M $405M $606M
Margins
Gross margin 50.8% 54.2% 55.7% 55.5% 55.0% 54.7% 55.5%
Operating margin 23.6% 25.2% 27.6% 24.7% 26.4% 27.1% —
Net margin −2.7% −4.7% 12.6% −23.3% 4.9% 4.0% 6.7%
FCF margin 11.8% 8.2% 19.3% 9.5% −34.6% 4.1% 12.8%
Returns
Return on capital — — 7.6% 9.3% 6.3% 6.1% 6.7%
Return on capital employed — — 9.8% 10.0% 10.6% 10.3% 10.6%
Return on equity — — 22.5% −49.9% 12.9% 10.5% 15.4%
Return on assets — — 4.2% −7.9% 1.6% 1.4% 2.5%
Growth
Revenue growth — 5.1% 13.9% 7.8% 4.5% 4.9% 5.7%
Net income growth — — — −299.8% — −13.6% 75.6%
EPS growth — — — −302.4% — −11.1% 68.8%
FCF growth — −26.9% 167.4% −46.7% −479.5% — 230.8%
Share count change — 2.3% 17.5% 0.3% 1.1% 0.6% 0.5%
Financial health
Debt / equity — 4.1x 3.1x 5.7x 5.2x 5.7x 3.7x
Interest coverage 1.2x 1.0x 4.4x 3.3x 1.6x 1.7x 1.9x
Current ratio — 2.2x 2.2x 0.8x 2.4x 2.8x 2.5x
Quick ratio — 2.0x 1.8x 0.8x 2.2x 2.5x 2.2x
Capital allocation
Capex / revenue 7.4% 6.5% 11.0% 18.2% 20.5% 16.3% 11.9%
Stock comp / revenue 0.9% 1.3% 1.5% 2.1% 3.1% 3.3% 2.7%
Payouts / FCF 753.0% 50.7% 0.0% 0.0% — 0.0% 0.0%
Quality scores
Piotroski F-score — — — 3.0 3.0 5.0 7.0
Altman Z'' — 0.4 0.8 −0.4 0.8 0.9 1.1
Accruals ratio — — −5.9% −17.3% 6.4% −5.8% −6.6%

Source: SEC EDGAR XBRL filings (CIK 0001822479). Data updated October 16, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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