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. In the quarter to June 2026, revenue grew 7.30%, EPS grew 13.9%, free cash flow fell 14.4% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three.
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STERIS plc (STE) Altman Z-score
STERIS plc's Altman Z-score for fiscal 2026 is 5.10, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 5.10 | 0.03 |
| FY2025 | 5.07 | 1.08 |
| FY2024 | 3.99 | 0.54 |
| FY2023 | 3.45 | (0.30) |
| FY2022 | 3.75 | (1.15) |
| FY2021 | 4.91 | (0.08) |
| FY2020 | 4.99 | 0.22 |
| FY2019 | 4.77 | 1.16 |
| FY2018 | 3.60 | 0.81 |
| FY2017 | 2.79 | 0.56 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.12 | — | 0.14 | |
| Retained earnings / total assets | 0.28 | — | 0.39 | |
| EBIT / total assets | 0.10 | — | 0.34 | |
| Market value of equity / total liabilities | 6.13 | — | 3.68 | |
| Sales / total assets | 0.55 | — | 0.55 | |
| Altman Z-score | Safe zone | 5.10 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.50 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PEN Penumbra, Inc. compare | 20.2× |
| GMED Globus Medical, Inc. compare | 11.3× |
| DXCM DexCom, Inc. compare | 6.4× |
| STE STERIS plc | 5.1× |
| SNN Smith & Nephew SNATS, Inc. compare | 3.5× |
| BIO.B Bio-Rad Laboratories, Inc. compare | 3.2× |
| ZBH Zimmer Biomet Holdings, Inc. compare | 2.4× |
| PHG Koninklijke Philips N.V. compare | 2.0× |
| GEHC GE HealthCare Technologies Inc. compare | 2.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on STE
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement