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Sotera Health

SHC Nasdaq Health Care Services Financials FY2019–FY2025

Sotera Health had $1.2B of revenue in fiscal 2025, up 5.7% on the year before. Over five years, revenue changed +7.3% a year on average.

Download report 3-page PDF: the company, its results and charts with peers.

Last close Β· Oct 23, 2026

$18.10

0.2%
Value it Compare

What Sotera Health does

SHC Β· Health Care Services

From its latest annual report

No business description yet.

Filing details

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

KIRA’s summary AI analyst

Hi! I read Sotera Health’s latest annual report (fiscal 2025). Here is what stands out:

4 strengths

1.Sales and profit

See section β†’
  • Sotera Health had $1.2B of revenue in fiscal 2025, up 5.7% on the year before. Over five years, revenue changed +7.3% a year on average.
  • Sotera Health made $77.9M of net profit in fiscal 2025.

2.Cash and shareholders

See section β†’
  • Free cash flow was $149M in fiscal 2025, 12.8% of revenue.
  • Sotera Health returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 0.5%.
  • In the last 12 months, insiders sold $1.6B of shares on the open market and bought none.

3.Financial health

See section β†’
  • Sotera Health owes $1.9B more than it holds in cash.
  • Its return on capital was 6.7%: every 100 invested in the business earned about 7 in a year.
  • Sotera Health passes 7 of 9 financial health tests (Piotroski F-score).

4.Price and value

See section β†’
  • At $18.10 a share, the company is worth $5.2B: 31.8 times its earnings of the last four quarters.
  • Sotera Health grew sales faster than 0 of its 4 similar companies. Its P/E is higher than 1 of 3.

Sotera Health in 30 seconds

Good So-so Weak

Good

Are sales growing?

+5.7%

Yes. Sales grew 5.7% last year.

So-so

Does it make a profit?

6.7%

A little. It keeps 6.7% of every sale as profit.

Good

Does profit turn into cash?

12.8%

Yes. 12.8% of sales ends up as free cash.

Good

How healthy are the accounts?

7 / 9

Solid. It passes 7 of 9 health tests.

For information

How is the share priced?

31.8x

One share costs 31.8 times its yearly profit per share. Typical for its sector: 27.9x.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Key numbers, fiscal 2025

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)

Revenue

Total sales reported in the income statement.

KIRA Β· Sotera Health had $1.2B of revenue in fiscal 2025, up 5.7% on the year before. Over five years, revenue changed +7.3% a year on average.

See the full section β†’

Operating margin

Operating income as a share of revenue.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Sotera Health made $77.9M of net profit in fiscal 2025.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

KIRA Β· Free cash flow was $149M in fiscal 2025, 12.8% of revenue.

See the full section β†’

Return on capital

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

KIRA Β· Its return on capital was 6.7%: every 100 invested in the business earned about 7 in a year.

See the full section β†’

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.

Charts by

Sales and profit

Is it selling more, and how much does it keep?

Results dates

In plain words: Every quarter, companies publish how much they sold and earned. These are the days Sotera Health did it, and the next one. Share prices often move a lot on those days.

Next results

November 3, 2026

Tuesday Β· in 9 days

Time
Before the market opens
Covers
Period ended Sep 30, 2026
Expected EPS
$0.24
Source
Earnings calendar
See who else reports that week β†’
Date Results for Time Source
Aug 6, 2026 Q2 '26 Before the market opens 8-K β†—
Apr 30, 2026 Q1 '26 Time not announced 8-K β†—
Jan 12, 2026 Q4 '25 Before the market opens 8-K β†—
Nov 4, 2025 Q3 '25 Before the market opens 8-K β†—
Aug 8, 2025 Q2 '25 Before the market opens 8-K β†—
May 1, 2025 Q1 '25 Before the market opens 8-K β†—
Jan 14, 2025 Q4 '24 Before the market opens 8-K β†—
Nov 5, 2024 Q3 '24 Before the market opens 8-K β†—

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

Revenue and margins

KIRA Β· Sotera Health had $1.2B of revenue in fiscal 2025, up 5.7% on the year before. Over five years, revenue changed +7.3% a year on average.

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Revenue

Revenue

Margins, % of revenue

Gross Operating Net FCF

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

KIRA Β· Sotera Health made $77.9M of net profit in fiscal 2025.

Loss periods are shown in red.

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Net income

Net income

Diluted EPS

Diluted EPS

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

KIRA Β· Free cash flow was $149M in fiscal 2025, 12.8% of revenue.

Cash from operations minus capital spending.

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

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

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

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Dividends and buybacks

Dividends Buybacks

Dividends and buybacks

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders sold $1.6B of shares on the open market and bought none.

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

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

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

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

KIRA Β· Sotera Health owes $1.9B more than it holds in cash.

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

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

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 (βˆ’ = net cash) $1.7B$1.6B$2.0B$2.0B$1.9B

Returns on capital

KIRA Β· Its return on capital was 6.7%: every 100 invested in the business earned about 7 in a year.

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

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Return on capital, equity and assets (annual)

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA Β· Sotera Health passes 7 of 9 financial health tests (Piotroski F-score).

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

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

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

Price and value

What does the share cost, and how does it compare?

Value Sotera Health yourself

KIRA Β· At $18.10 a share, the company is worth $5.2B: 31.8 times its earnings of the last four quarters.

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

In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.

Discounted cash flow

Value per share

β€”

Adds net cash of βˆ’$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

β€”

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

Similar companies

KIRA Β· Sotera Health grew sales faster than 0 of its 4 similar companies. Its P/E is higher than 1 of 3.

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

In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.

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

All figures

Every number, year by year.

7 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

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 β€”
Interest expense $151M $211M $58.8M $75.8M $174M $180M $164M
Pretax income βˆ’$0.9M βˆ’$38.9M $176M βˆ’$243M $106M $114M $148M
Income tax $19.5M βˆ’$1.4M $58.6M βˆ’$9.5M $54.7M $69.5M $69.6M
Net income βˆ’$20.8M βˆ’$38.6M $117M βˆ’$234M $51.4M $44.4M $77.9M
Diluted EPS βˆ’$0.09 βˆ’$0.16 $0.41 βˆ’$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 βˆ’$148M $224M $287M
Capital expenditure $57.3M $53.5M $102M $182M $215M $179M $138M
Free cash flow $91.8M $67.1M $179M $95.6M βˆ’$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 β€” $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 β€” $315M $346M $645M $557M $526M $613M
Current liabilities β€” $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 β€” $610M $651M $775M $947M $1.0B $1.1B
Total assets β€” $2.8B $2.8B $3.1B $3.1B $3.1B $3.3B
Total liabilities β€” $2.3B $2.2B $2.8B $2.7B $2.7B $2.7B
Shareholders' equity βˆ’$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% β€”
Net margin βˆ’2.7% βˆ’4.7% 12.6% βˆ’23.3% 4.9% 4.0% 6.7%
FCF margin 11.8% 8.2% 19.3% 9.5% βˆ’34.6% 4.1% 12.8%
Returns
Return on capital β€” β€” 7.6% 9.3% 6.3% 6.1% 6.7%
Return on capital employed β€” β€” 9.8% 10.0% 10.6% 10.3% 10.6%
Return on equity β€” β€” 22.5% βˆ’49.9% 12.9% 10.5% 15.4%
Return on assets β€” β€” 4.2% βˆ’7.9% 1.6% 1.4% 2.5%
Growth
Revenue growth β€” 5.1% 13.9% 7.8% 4.5% 4.9% 5.7%
Net income growth β€” β€” β€” βˆ’299.8% β€” βˆ’13.6% 75.6%
EPS growth β€” β€” β€” βˆ’302.4% β€” βˆ’11.1% 68.8%
FCF growth β€” βˆ’26.9% 167.4% βˆ’46.7% βˆ’479.5% β€” 230.8%
Share count change β€” 2.3% 17.5% 0.3% 1.1% 0.6% 0.5%
Financial health
Debt / equity β€” 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 β€” 2.2x 2.2x 0.8x 2.4x 2.8x 2.5x
Quick ratio β€” 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% β€” 0.0% 0.0%
Quality scores
Piotroski F-score β€” β€” β€” 3.0 3.0 5.0 7.0
Altman Z'' β€” 0.4 0.8 βˆ’0.4 0.8 0.9 1.1
Accruals ratio β€” β€” βˆ’5.9% βˆ’17.3% 6.4% βˆ’5.8% βˆ’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 β€” not investment advice. Check the original filings before relying on any figure.

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