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STERIS plc

STE Healthcare Medical Devices

STERIS plc’s revenue for fiscal 2026 (year ended March 2026) was $5.9 billion, up 8.73% from fiscal 2025.

Revenue
+8.79%
EPS
+12.8%
Free cash flow
+43.6%
Total debt
−0.21%

Quarter to September 2026, against a year earlier

251.56 2.56 −1.01%
Market cap
$24.8B
P/E
30.0×
Fwd P/E
25.1×
Dividend yield
1.02%
F-score
9/9
Altman Z
5.10
Beneish M
−2.68
Dividend safety
86/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Sold, $m 3.25
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — 3 — 1 — — —
Insider Ownership 0.13%

Capital & Financial Ratios $m

Size
Market Cap 24,780.00
Revenue ttm 6,165.80
Net income ttm 829.80
Free cash flow ttm 1,289.70
Net debt Q 1,362.30
Valuation
P/E 30.00
Forward P/E 25.10
Price / sales 4.01
Forward P/S Powerpack
Price / FCF 26.35
Price / book 3.40
Financial health
Current ratio Q 2.05 (at or above 1.5: strong)
Debt / equity Q 0.26 (at or below 0.5: strong)
Interest coverage Q 18.09
Growth
Revenue growth Q +8.79% (above 0%: growing)
Operating income growth Q +10.72% (above 0%: growing)
EPS, this year +11.65%
EPS, next year A +8.52%
Revenue, next year A +7.46%
EPS, past 5 yrs +11.36%
EPS, next 5 yrs A +9.82%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.2×, against a ten-year median of 4.5×; over the ten years it ranged from 2.7× in 2016 to 6.9× in 2021.
P/E against its own 10 years 9.53%
10-year low 10-year high
P/S against its own 10 years 42.57%
10-year low 10-year high
P/B against its own 10 years 59.26%
10-year low 10-year high
EV/Sales against its own 10 years 37.88%
10-year low 10-year high
EV/FCF against its own 10 years 11.51%
10-year low 10-year high

Dividends raised every year since 2017

Yield
1.02%
Annual rate
2.58
Payout ratio
30.6%
Growth, 2017–25
+9.28%/yr
  1. 1.18 ’17
  2. 1.30 ’18 +10
  3. 1.42 ’19 +9
  4. 1.54 ’20 +8
  5. 1.66 ’21 +8
  6. 1.80 ’22 +8
  7. 1.98 ’23 +10
  8. 2.18 ’24 +10
  9. 2.40 ’25 +10
  10. 2.43 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 207 172 440 531
Receivables 1,008 1,044 1,093 1,005
Inventory 675 581 632 737
Other 805 — — —
2,869 2,001 2,395 2,479
2024 2025 2026 Q'26
Payables 252 281 339 334
ST’ Debt 86 125 119 243
Other 64 616 687 —
931 1,022 1,145 1,208

Compound Annual Growth %

10y 5y 3y
Sales 10.24% 13.82% 9.38%
Cash Flow 18.07% 14.23% 21.01%
Earnings 21.59% 14.51% 94.07%
Book Value 9.00% 13.09% 5.74%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY27 Estimate 2.67 Actual 2.94

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY26 2.53 2.53 Met by 0.00
Q4 FY26 2.86 2.83 Miss by 0.03
Q1 FY27 2.54 2.59 Beat by 0.05
Q2 FY27 2.67 2.94 Beat by 0.27
Q3 FY27 2.81 — Reports 3 February 2027

EPS $

Jun Sep Dec Mar Year
’26 2.04 2.19 — — —
’26 1.79 1.94 1.96 2.24 7.93
’25 1.46 1.51 1.75 1.48 6.20
’24 1.25 1.16 1.42 (0.01) 3.81
’23 1.10 (3.15) 1.24 1.88 1.07
’22 (0.24) 0.69 1.42 0.52 2.48
’21 1.03 1.23 1.33 1.02 4.63
Fiscal quarters ending in the months shown.

Revenue $m

Jun Sep Dec Mar Year
’26 1,493 1,589 — — —
’26 1,391 1,460 1,496 1,588 5,936
’25 1,280 1,329 1,371 1,481 5,460
’24 1,183 1,238 1,298 1,419 5,139
’23 1,156 1,201 1,216 963 4,536
’22 968 1,197 1,209 849 4,223
’21 669 756 809 874 3,108
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Jun Sep Dec Mar Year
’26 367 289 — — —
’26 420 288 298 335 1,341
’25 304 251 333 261 1,148
’24 281 146 291 255 973
’23 232 104 206 216 757
’22 97 171 244 172 685
’21 134 162 206 188 690
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Jun Sep Dec Mar Year
’26 280 289 — — —
’26 327 201 210 245 983
’25 196 149 244 199 787
’24 215 70 172 163 620
’23 117 21 125 147 410
’22 41 95 165 99 399
’21 67 118 152 113 451
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 6.6% a year for ten years. It grew 18.8% a year over the last ten.

Implied
6.6%
10 years, reported
18.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to March

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 2,613 2,620 2,782 3,031 3,108 4,223 4,536 5,139 5,460 5,936 6,166 +9.5% 6,379 6,808 7,261 +6.9%
Gross margin, % 39.28 41.71 42.23 43.55 43.22 44.59 43.66 43.16 44.01 44.25 44.56 +5.0 pt
EBT 185 355 369 499 518 367 680 703 796 1,047 1,124 +21.3%
EBT margin, % 7.07 13.55 13.26 16.46 16.65 8.69 15.00 13.68 14.58 17.64 18.23 +10.6 pt
Net income 111 292 305 408 397 243 106 380 616 785 830 +24.3%
Per share, $
Per share, $ Revenue 30.57 30.81 32.90 35.75 36.47 43.30 45.50 52.01 55.37 60.45 63.37 +7.9%
Earnings 1.29 3.42 3.59 4.81 4.66 2.50 1.07 3.83 6.24 7.97 8.46 +22.4%
Cash flow 4.96 5.38 6.38 6.97 8.09 7.02 7.59 9.85 11.64 13.66 13.25 +11.9%
Capex (1.97) (1.92) (2.18) (2.48) (2.80) (2.93) (3.48) (3.57) (3.66) (3.65) 0.00 +7.1%
Free cash flow 3.00 3.46 4.20 4.48 5.29 4.09 4.11 6.28 7.98 10.01 13.25 +14.3%
Book value 32.88 37.84 37.67 40.32 45.67 67.10 61.05 63.92 67.10 73.29 74.73 +9.3%
Shares, m 85 85 85 85 85 98 100 99 99 98 98 +1.6%
Valuation, ×
Valuation, × P/E 54.27 26.54 35.30 29.10 41.05 99.91 175.49 57.71 36.38 27.78 30.00 58.4
P/S 2.27 2.95 3.87 3.92 5.22 5.58 4.20 4.25 4.09 3.66 4.01 4.0
P/B 2.11 2.41 3.38 3.47 4.17 3.60 3.13 3.46 3.38 3.02 3.40 3.2
EV/Sales 2.73 3.38 4.22 4.20 5.69 6.23 4.84 4.83 4.44 3.91 4.23 4.4
EV/FCF 27.86 30.09 33.04 33.45 39.21 65.97 53.57 40.03 30.77 23.61 27.81 37.8
Cash, $m
Cash, $m Operating cash flow 424 458 540 591 690 685 757 973 1,148 1,341 1,290 +13.6%
Capex (168) (163) (184) (210) (239) (286) (347) (353) (361) (358) (352) +8.8%
Free cash flow 256 294 355 380 451 399 410 620 787 983 1,290 +16.1%
Balance, $m
Balance, $m Working capital 636 591 589 720 634 957 1,150 1,938 979 1,250 1,271 +7.8%
Net debt 1,195 1,114 963 851 1,453 2,740 2,870 2,999 1,872 1,492 1,362 +2.5%
Shareholders’ equity 2,810 3,217 3,186 3,418 3,891 6,545 6,087 6,315 6,616 7,197 7,272 +11.0%
Returns, %
Returns, % ROA 2.14 5.75 5.91 7.75 6.61 2.71 0.96 3.46 5.80 7.49 7.83 +5.4 pt
ROIC 3.53 5.77 6.19 7.86 6.41 3.22 5.52 5.61 6.38 7.92 8.47 +4.4 pt
ROE 3.76 9.65 9.49 12.35 10.87 4.67 1.69 6.10 9.51 11.33 11.57 +7.6 pt
People
People Employees 12,000 12,000 12,000 13,000 13,000 16,422 17,100 18,179 17,787 17,937 — +4.6%
Revenue/emp, $m 0.22 0.22 0.23 0.23 0.24 0.26 0.27 0.28 0.31 0.33 — +4.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Mar 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

STERIS provides products and services used to prevent infections and support patient care. Founded in 1985 and headquartered in Ireland, it serves healthcare providers and manufacturers of medical devices and pharmaceuticals. Daniel A. Carestio is its president and chief executive officer.

For hospitals and other healthcare providers, STERIS supplies products used to clean, disinfect and sterilize reusable instruments, as well as equipment used in operating rooms and endoscopy suites. Its products range from detergents and sterility assurance supplies to sterilizers, surgical tables and systems that reprocess endoscopes. It also repairs instruments and scopes, maintains equipment and runs outsourced instrument-processing services.

STERIS plc vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GEHC GE HealthCare Technologies Inc. $37.9B 17.5× 15.5× +7.19% (above 0%: growing) +40.64% (above 0%: growing) +64.18% (above 0%: growing) 40.34% 14.58% Compare
DXCM DexCom, Inc. $31.5B 32.6× 31.8× +11.18% (above 0%: growing) 0.00% −52.93% (below 0%: shrinking) 64.29% 24.34% Compare
PHG Koninklijke Philips N.V. $29.8B 25.8× 11.2× +0.55% (above 0%: growing) −85.00% (below 0%: shrinking) +154.15% (above 0%: growing) 46.44% 3.76% Compare
STE STERIS plc $24.8B 30.0× 25.1× +8.79% (above 0%: growing) +12.82% (above 0%: growing) +43.64% (above 0%: growing) 44.74% 18.53%
ZBH Zimmer Biomet Holdings, Inc. $20.4B 26.9× 18.9× +3.07% (above 0%: growing) −13.45% (below 0%: shrinking) +29.77% (above 0%: growing) 71.18% 14.91% Compare
SNN Smith & Nephew SNATS, Inc. $13.4B 38.9× 18.9× +7.99% (above 0%: growing) −14.23% (below 0%: shrinking) +293.94% (above 0%: growing) 69.42% 0.00% Compare
GKOS Glaukos Corporation $13.0B — (loss-making) — (loss-making) +58.03% (above 0%: growing) n/m +411.22% (above 0%: growing) 85.23% 0.39% Compare
PEN Penumbra, Inc. $12.7B 80.3× 68.7× +15.64% (above 0%: growing) −8.29% (below 0%: shrinking) −37.16% (below 0%: shrinking) 68.34% 12.37% Compare
GMED Globus Medical, Inc. $10.9B 19.5× 18.8× −0.69% (below 0%: shrinking) +19.32% (above 0%: growing) +10.10% (above 0%: growing) 69.50% 23.25% Compare
Median of peers $16.9B 26.9× 18.9× +7.59% −8.29% +46.98% 68.88% 13.48%

All 149 Medical Devices stocks →

From the latest earnings call

Updated

  • CFO Karen Burton said tariff refunds lifted second-quarter adjusted margins, while inflation more than offset favorable pricing in the underlying gross margin.
  • CEO Dan Carestio said Healthcare demand included endoscopy procedure growth, while Life Sciences benefited from capital equipment shipments and manufacturing localization.

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STE metrics, ten years each

stockrow.com/STE · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com