Steris (STE)
Health Care · $20.3B market cap · SEC CIK 0001757898
fundamentals score out of 100
Next reports on Nov 3, 2026, with analysts expecting $2.71 in earnings per share.
The case for STE
- Generated $972M of free cash flow in FY2025, 16% of revenue.
- Revenue growing 8.4% year over year.
- Earnings per share up 25.3%.
- A PEG of 1.00: a P/E of 25.2× is low for EPS growing 25%.
- Has compounded revenue at 13.8% a year over five years.
- Pays a modest 1.0% dividend.
The case against
- Near the bottom of its 52-week range, 23% below the high. Falling prices usually have a reason; find it first.
- Weakest against its peers: return on equity of 11% is lower than 55% of Health Care companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Health Care companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 59 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 76 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 58 |
| Momentumhow the price has behaved lately | 33 |
| Stabilityhow violently it moves, what it owes and what it pays you | 72 |
- Each factor except momentum is half fixed thresholds, half rank among the 59 Health Care companies.
Key numbers
| Price / earnings | 25.2× |
|---|---|
| Price / book | 2.85× |
| Price / sales | 3.4× |
| Revenue growth (YoY) | +8.4% |
| EPS growth (YoY) | +25.3% |
| Gross margin | 44% |
| Operating margin | 19% |
| Net margin | 13% |
| Return on equity | 11% |
| Debt / equity | 0.26× |
| Current ratio | 1.91 |
| Dividend yield | 1.02% |
| Beta | 0.88 |
| 52-week range | $195.14 – $269.44 |
| Position in that range | 18% of the way up |
| 3-month return | +2.2% |
| 1-year return | -16.8% |
Five years of financials, as filed
Pulled from Steris's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $5.9B | $5.5B | $5.1B | $4.5B | $4.2B |
| Gross profit | $2.6B | $2.4B | $2.2B | $2.0B | $1.9B |
| Operating income | $1.1B | $867M | $836M | $791M | $478M |
| Net income | $782M | $615M | $378M | $107M | $244M |
| Operating cash flow | $1.3B | $1.1B | $973M | $757M | $685M |
| Capital expenditure | $369M | $370M | $360M | $362M | $288M |
| Total assets | $10.6B | $10.0B | $11.4B | $10.8B | $11.7B |
| Total liabilities | $3.4B | $3.6B | $5.0B | $4.8B | $5.1B |
| Shareholder equity | $7.2B | $6.4B | $6.4B | $6.0B | $6.6B |
| Cash | $424M | $155M | $196M | $259M | $359M |
| Long-term debt | $1.9B | $2.0B | $3.2B | $3.0B | $3.2B |
| Free cash flow | $972M | $778M | $613M | $395M | $397M |
| Gross margin | 44.2% | 44.0% | 43.2% | 43.7% | 44.6% |
| Operating margin | 18.6% | 15.9% | 16.3% | 17.4% | 11.3% |
| Net margin | 13.2% | 11.3% | 7.4% | 2.4% | 5.8% |
| Diluted shares | 98.7M | 99.1M | 99.4M | 100M | 98.3M |
Share count is essentially flat over 4 years.
What Steris says it does
INTRODUCTION STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. WE HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life science products and services around the globe. We offer our Customers a unique mix of innovative products and services. These include: consumable products, such as detergents, endoscopy accessories, barrier products, instruments and tools; services, including equipment installation and maintenance, microbial reduction of medical devices, instrument and scope repair, laboratory testing, and outsourced reprocessing; capital equipment, such as sterilizers, surgical tables, and automated endoscope reprocessors; and connectivity solutions such as operating room ("OR") integrati on. We operate and report our financial information in three reportable business segments: Healthcare, Applied Sterilization…
Risk factors STE lists in its 10-K
- Changes in economic climate may adversely affect us
- Compliance with multiple, and potentially conflicting, international laws and regulations, import and export limitations, anti-corruption laws, and exchange controls may be difficult, burdensome or expensive
- Healthcare Policy and Reimbursement
- Changes in healthcare policy or government and other third-party payor reimbursement levels to healthcare providers, or failure to meet healthcare reimbursement or other requirements, might negatively impact our business
- Product and Service Related Regulations and Claims
- Our products are subject to recalls and restrictions, even after receiving U.S. or foreign regulatory clearance or approval
- We may be adversely affected by product liability claims or other legal actions or regulatory or compliance matters
- Our business and financial condition could be adversely affected by difficulties in acquiring or maintaining a proprietary intellectual ownership position
- We may be adversely impacted by changes in tax laws or challenges to our tax positions, and our
- effective tax rate is uncertain and may vary from expectations, which could have a material impact on our results of operations and earnings per share
- Current economic and political conditions make tax rules in any jurisdiction subject to significant change
- Changes in tax treaties and trade agreements could negatively impact our costs, results of operations and earnings per share
- Legislation relating to the denial of U.S. federal or state governmental contracts to U.S. companies that redomicile abroad could adversely affect our business
- Our business environment is highly competitive, and if we fail to compete successfully, our revenues and results of operations may be negatively impacted