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Steris

STE NYSE Health Care Equipment Financials FY2017–FY2026

Steris' revenue rose 8.7% to $5.9 billion in fiscal 2026. Its operating margin was 18.6%, up from 15.9% a year earlier. Free cash flow was $972 million, up 25.0%. It paid out $477 million in dividends and buybacks, 49% of free cash flow. The diluted share count fell 0.4%.

Last close · Oct 23, 2026

$232.15

0.0%
Value it Compare
Revenue Total sales reported in the income statement.
$5.9B
8.7% vs prior year
Operating margin Operating income as a share of revenue.
18.6%
2.7 pts
Net income Profit after all expenses, interest and tax.
$782M
27.3%
Free cash flow Cash from operations minus capital spending.
$972M
25.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
9.6%
2.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$22.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
28.4x
On $8.18 EPS (TTM)

What Steris does

No business description yet.

Legal name
STERIS plc
Fiscal year ends
March 31, 2026
Latest annual report
—
Accession · CIK
0001628280-26-039136
0001757898

Revenue and margins

Steris had $5.9B of revenue in fiscal 2026, up 8.7% 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

From fiscal 2017 to 2026, diluted EPS grew 22.5% a year. 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 $972M in fiscal 2026, 16.4% 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

Steris returned $477M to shareholders in fiscal 2026, 49% of free cash flow. The diluted share count fell 0.4%.

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

Value Steris 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 −$1.5B and divides by 98.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 28.4x · peers 35.2x · sector 27.9x.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $348M$208M$207M$172M$440M
Debt incl. finance leases $3.1B$3.1B$3.2B$2.0B$1.9B
Net debt / EBITDA 2.7x2.1x2.1x1.4x0.9x
Debt / equity 0.5x0.5x0.5x0.3x0.3x
Interest coverage 5.3x7.3x5.8x10.0x18.2x
Current ratio 2.0x2.3x3.1x2.0x2.1x
Quick ratio 1.4x1.6x2.4x1.4x1.5x
Total assets $11.4B$10.8B$11.1B$10.1B$10.7B
Total liabilities $4.9B$4.7B$4.7B$3.5B$3.5B
Shareholders' equity $6.5B$6.1B$6.3B$6.6B$7.2B
Net debt (− = net cash) $2.7B$2.9B$3.0B$1.9B$1.5B

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

$9.8M

7 insiders

Of sales under plans

13%

$1.2M

DateInsiderTradeSharesPriceValueFiling
Aug 12, 2026 Mohsen SohiDirector Sold 4,058 $235.78 $1.0M Form 4
Jun 15, 2026 John Adam ZangerleSr. VP, Gen Counsel, and Sec. Sold plan 1,419 $209.28 $0.3M Form 4
Jun 5, 2026 Daniel A CarestioPresident and CEO, Director Sold plan 1,374 $212.00 $0.3M Form 4
Jun 4, 2026 Daniel A CarestioPresident and CEO, Director Sold plan 3,054 $214.64 $0.7M Form 4
Jun 2, 2026 Richard C BreedenDirector Sold 1,481 $209.51 $0.3M Form 4
Mar 5, 2026 Cynthia L FeldmannDirector Sold 3,098 $237.21 $0.7M Form 4
Nov 21, 2025 Julia MadsenSr. VP and GM, Life Sciences Sold 5,008 $262.00 $1.3M Form 4
Nov 18, 2025 Renato TamaroV.P. & Corporate Treasurer Sold 5,036 $257.55 $1.3M Form 4
Nov 11, 2025 John Adam ZangerleSr. VP, Gen Counsel, and Sec. Sold 15,000 $265.14 $4.0M Form 4

Piotroski F-score

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

TestFY24FY25FY26
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 7 / 98 / 99 / 9
Accruals ratio −5.4%−5.0%−5.4%
Altman Z'' 3.673.974.50

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
Steris STE $22.7B 8.7% 18.6% 16.4% 9.6% 28.4x 9
Edwards Lifesciences EW $51.4B 11.6% 20.8% 22.0% 15.7% 51.2x 5 Compare →
ResMed | RMD $36.9B 9.9% 33.4% 29.2% 26.7% — 6 Compare →
Dexcom DXCM $30.4B 15.6% 19.6% 23.1% 44.9% 30.9x 8 Compare →
Idexx Laboratories IDXX $44.4B 10.4% 31.6% 24.6% 57.3% 39.4x 8 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $2.6B $2.6B $2.8B $3.0B $3.1B $4.2B $4.5B $5.1B $5.5B $5.9B
Gross profit $1.0B $1.1B $1.2B $1.3B $1.3B $1.9B $2.0B $2.2B $2.4B $2.6B
Research and development $59.4M $60.8M $63.0M $65.5M $66.3M $86.7M $98.5M $104M $108M $113M
Operating income $226M $400M $411M $537M $548M $478M $791M $836M $867M $1.1B
Interest expense $44.5M $50.6M $45.0M $40.3M $37.2M $89.5M $108M $144M $86.3M $60.7M
Pretax income $185M $355M $369M $499M $518M $367M $680M $703M $796M $1.0B
Income tax $74.0M $63.4M $64.3M $90.9M $121M $82.3M $124M $150M $185M $262M
Net income $110M $291M $304M $408M $397M $244M $107M $378M $615M $782M
Diluted EPS $1.28 $3.39 $3.55 $4.76 $4.63 $2.48 $1.07 $3.81 $6.20 $7.93
Diluted shares 0.09B 0.09B 0.09B 0.09B 0.09B 0.10B 0.10B 0.10B 0.10B 0.10B
Cash flow
Cash from operations $424M $458M $540M $591M $690M $685M $757M $973M $1.1B $1.3B
Capital expenditure $173M $166M $190M $215M $239M $288M $362M $360M $370M $369M
Free cash flow $251M $292M $350M $376M $450M $397M $395M $613M $778M $972M
Depreciation and amortization $188M $178M $226M $197M $219M $553M $553M $565M $476M $487M
Stock-based compensation $18.8M $22.2M $24.0M $23.8M $26.0M $57.7M $39.0M $56.5M $57.4M $61.7M
Acquisitions $65.6M $46.3M $13.3M $110M $909M $550M $42.6M $546M $54.1M $20.1M
Share buybacks $97.5M $65.5M $81.5M $51.2M $14.6M $55.8M $309M $11.8M $211M $236M
Dividends paid $93.2M $103M $113M $123M $134M $163M $184M $201M $220M $242M
Dividends and buybacks $191M $168M $194M $174M $148M $219M $492M $212M $431M $477M
Balance sheet
Cash and short-term investments $283M $202M $221M $320M $221M $348M $208M $207M $172M $440M
Total debt — $1.3B $1.2B $1.2B $1.7B $3.1B $3.1B $3.2B $2.0B $1.9B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets — $990M $1.1B $1.2B $1.2B $1.9B $2.0B $2.9B $2.0B $2.4B
Current liabilities — $399M $465M $504M $578M $922M $862M $931M $1.0B $1.1B
Inventory $0.0M $206M $208M $264M $315M $575M $604M $675M $581M $632M
Property and equipment, net — $1.0B $1.0B $1.1B $1.2B $1.6B $1.6B $1.8B $2.0B $2.2B
Total assets — $5.2B $5.1B $5.4B $6.6B $11.4B $10.8B $11.1B $10.1B $10.7B
Total liabilities — $2.0B $1.9B $2.0B $2.7B $4.9B $4.7B $4.7B $3.5B $3.5B
Shareholders' equity $2.8B $3.2B $3.2B $3.4B $3.9B $6.5B $6.1B $6.3B $6.6B $7.2B
Margins
Gross margin 39.3% 41.7% 42.2% 43.6% 43.2% 44.6% 43.7% 43.2% 44.0% 44.3%
Operating margin 8.7% 15.3% 14.8% 17.7% 17.7% 11.3% 17.4% 16.3% 15.9% 18.6%
EBITDA margin 15.9% 22.1% 22.9% 24.2% 24.7% 24.4% 29.6% 27.3% 24.6% 26.8%
Net margin 4.2% 11.1% 10.9% 13.5% 12.8% 5.8% 2.4% 7.4% 11.3% 13.2%
FCF margin 9.6% 11.2% 12.6% 12.4% 14.5% 9.4% 8.7% 11.9% 14.3% 16.4%
Returns
Return on capital — — 8.0% 10.5% 8.8% 5.1% 7.1% 7.2% 7.5% 9.6%
Return on capital employed — — 8.7% 11.3% 10.0% 5.8% 7.7% 8.3% 9.0% 11.8%
Return on equity — — 9.5% 12.4% 10.9% 4.7% 1.7% 6.1% 9.5% 11.4%
Return on assets — — 5.9% 7.8% 6.6% 2.7% 1.0% 3.5% 5.8% 7.5%
Growth
Revenue growth — 0.3% 6.2% 8.9% 2.5% 35.9% 7.4% 13.3% 6.2% 8.7%
Net income growth — 164.6% 4.4% 34.2% −2.5% −38.6% −56.1% 253.4% 62.5% 27.3%
EPS growth — 164.8% 4.7% 34.1% −2.7% −46.4% −56.9% 256.1% 62.7% 27.9%
FCF growth — 16.3% 19.7% 7.5% 19.8% −11.8% −0.6% 55.2% 26.9% 25.0%
Share count change — −0.4% −0.3% 0.2% 0.3% 14.5% 2.0% −0.8% −0.3% −0.4%
Financial health
Net debt / EBITDA — 1.9x 1.5x 1.1x 1.9x 2.7x 2.1x 2.1x 1.4x 0.9x
Debt / equity — 0.4x 0.4x 0.3x 0.4x 0.5x 0.5x 0.5x 0.3x 0.3x
Interest coverage 5.1x 7.9x 9.1x 13.3x 14.8x 5.3x 7.3x 5.8x 10.0x 18.2x
Current ratio — 2.5x 2.3x 2.4x 2.1x 2.0x 2.3x 3.1x 2.0x 2.1x
Quick ratio — 2.0x 1.8x 1.9x 1.6x 1.4x 1.6x 2.4x 1.4x 1.5x
Capital allocation
Capex / revenue 6.6% 6.3% 6.8% 7.1% 7.7% 6.8% 8.0% 7.0% 6.8% 6.2%
Stock comp / revenue 0.7% 0.9% 0.9% 0.8% 0.8% 1.4% 0.9% 1.1% 1.1% 1.0%
Payouts / FCF 75.9% 57.6% 55.5% 46.3% 33.0% 55.1% 124.6% 34.7% 55.4% 49.1%
Quality scores
Piotroski F-score — — — 8.0 3.0 5.0 5.0 7.0 8.0 9.0
Altman Z'' — 3.7 3.9 4.3 3.7 2.8 3.1 3.7 4.0 4.5
Accruals ratio — — −4.6% −3.5% −4.9% −4.9% −5.8% −5.4% −5.0% −5.4%

Source: SEC EDGAR XBRL filings (CIK 0001757898). Data updated October 9, 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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