STERIS plc (STE)
Health Care · Health Care Equipment · US stock · S&P 500 component
$232.22
▲ +10.74 (4.85%)
Fair valueFair
$239 +3.1% to fair value
$120fair band $204–$290$359
Day's range
$222.78 – $232.32
52-week range
$195.14 – $269.44
About STERIS plc
STERIS provides products and services that support infection prevention, sterilization and surgical care. It makes sterilizers, surgical tables and lights, and endoscopy accessories, and it offers sterile processing and reprocessing services to hospitals, drug makers and other customers. Revenue comes from equipment sales, consumable supplies such as cleaning and sterilizing agents, and recurring service contracts, which add a measure of steadiness to results.
Revenue has grown 9.4% a year over three years, leaving the last twelve months at $6.0 billion. Operating margin is 18.9%. Return on invested capital comes to 10%. On leverage, net debt to EBITDA is 0.9 times. A dividend is paid, with a yield of 1.1%. This gives an X-Ray Score of 63 out of 100.
Price chart
52-wk range $195.14 – $269.44Volume 1,024,626Daily, split-adjusted
Vitals
Market cap$22.7B
52-week range$195.14 – $269.44
Volume (last day)1,024,626
P/E (TTM)28.4
EBIT / EV yield4.7%
Free-cash-flow yield4.1%
Dividend yield1.1%
Revenue (TTM)$6.0B
Net income (TTM)$805M
Operating margin18.9%
Return on capital9.8%
Debt incl. leases$1.9B
Cash & securities$482M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$239middle half of models $217 – $274
Fair
+3.1% to fair value
Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $232
Undervalued < $204Fair $204 – $290Overvalued > $290
P/E multiple
$258
P/B multiple
$242
P/S multiple
$273
EV/EBITDA multiple
$252
EV/EBIT multiple
$272
EV/revenue multiple
$265
10-year DCF, EBITDA exit
$276
5-year DCF, EBITDA exit
$275
10-year DCF, revenue exit
$278
5-year DCF, revenue exit
$276
10-year DCF, growth exit
$191
5-year DCF, growth exit
$174
Dividend discount, stable
$133
Dividend discount, multi-stage
$245
Earnings power value
$181
Growth the price implies
16.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
55/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.7%
Free-cash-flow yield4.1%
Fair value vs price1.0×
Growth
Strong
77/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)9.4%
EPS growth (3y)95.0%
Growth consistency100%
Profitability
Weak
49/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital9.8%
Operating margin18.9%
Gross profitability25.0%
Financial health
Strong
78/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score9 / 9
Net debt / EBITDA0.9×
Interest cover18.8×
Dividends
Fair
62/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.1%
Dividends vs free cash flow27%
Dividend growth9.6%
Quarterly results: last 6 quarters
+4.3%
Mar '25
+8.7%
Jun '25
+9.9%
Sep '25
+9.2%
Dec '25
+7.3%
Mar '26
+7.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.5B.
Compare with peers
DXCM Dexcom Inc78 PODD Insulet Corp72 RMD Resmed Inc70 BSX Boston Scientific Corp67Other Health Care Equipment companies by X-Ray Score.
SWOT analysis: STERIS plc
Strengthsinside the company
- Earnings per share have compounded at 95.0% a year over three years.
- Operating profit covers interest 19x, so debt costs are a small drag.
- Passes 9 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Dividends use only 27% of free cash flow, which leaves room to raise them.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare STE with peers and sector
Medians of 15 Health Care Equipment peers and of 59 Health Care stocks in our universe.
Largest peers (X-Ray Score): ABT 41, ISRG 62, MDT 57, SYK 56, BSX 67, BDX 47.
| Metric | STE | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 63 | 56 | 49 |
| Valuation | 55 | 60 | 52 |
| Growth | 77 | 66 | 47 |
| Profitability | 49 | 55 | 51 |
| Financial health | 78 | 55 | 48 |
| Dividends | 62 | 35 | 50 |
Sector leaders: highest X-Ray Score in Health Care
STE ranks #12 of 60 in Health Care and #6 of 16 in Health Care Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for STE
Each factor is rated by where STE stands among the 60 Health Care stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 8 Good · 14 Average · 1 Bad of 23
Growth: 2 · 1 · 0
Profitability: 0 · 4 · 1
Financial strength: 3 · 1 · 0
Valuation: 0 · 5 · 0
Cash flow: 2 · 2 · 0
Efficiency: 1 · 1 · 0
| Factor | STE | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.4% | Good beats 69% | +5.5% | – | – |
| Revenue growth, last year | +8.7% | Average beats 61% | +7.1% | +8.7% | ≈ In line |
| EPS growth, 3 years a year | +95.0% | Good beats 97% | +5.0% | – | – |
| Profitability | |||||
| Gross margin | 44.4% | Bad beats 27% | 65.0% | 44.0% | ≈ In line |
| Operating margin | 18.9% | Average beats 57% | 16.4% | 16.3% | ▲ Better |
| Net margin | 13.3% | Average beats 53% | 11.1% | 7.4% | ▲ Better |
| Return on invested capital | 9.8% | Average beats 39% | 12.2% | – | – |
| Return on equity | 11.2% | Average beats 39% | 13.7% | 6.0% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 0.9x | Good beats 74% | 2.0x | 2.1x | ▲ Better |
| Interest cover | 18.8x | Average beats 64% | 9.4x | 7.3x | ▲ Better |
| Current ratio | 1.91 | Good beats 71% | 1.52 | 2.09 | ≈ In line |
| Piotroski F-score | 9 / 9 | Good beats 99% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 28.2x | Average beats 50% | 28.2x | 59.1x | ▲ Better |
| Price / book | 3.2x | Average beats 57% | 3.7x | 3.4x | ≈ In line |
| Price / sales | 3.8x | Average beats 49% | 3.7x | 4.2x | ▲ Better |
| EV / EBITDA | 14.8x | Average beats 66% | 17.6x | 18.1x | ▲ Better |
| Free cash flow yield | 4.1% | Average beats 39% | 4.4% | 2.7% | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 15.3% | Average beats 43% | 16.3% | 11.9% | ▲ Better |
| Cash from operations / net income | 1.60 | Average beats 48% | 1.61 | 2.57 | ▼ Worse |
| Free cash flow growth, 3 years a year | +35.0% | Good beats 85% | +4.3% | – | – |
| Accruals (lower is better) | −4.5% | Good beats 67% | −3.9% | – | – |
| Efficiency | |||||
| Inventory turnover | 4.7x | Good beats 76% | 2.9x | 4.3x | ≈ In line |
| Days sales outstanding | 61 days | Average beats 55% | 62 days | 70 days | ▲ Better |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 7 Good · ● 8 Average · ● 1 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 63/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $4.2B | $4.5B | $5.1B | $5.5B | $5.9B |
| Operating income | $478M | $791M | $836M | $867M | $1.1B |
| Net income | $244M | $107M | $378M | $615M | $782M |
| Operating cash flow | $685M | $757M | $973M | $1.1B | $1.3B |
| Operating margin | 11.3% | 17.4% | 16.3% | 15.9% | 18.6% |
| Free cash flow | $397M | $395M | $613M | $778M | $972M |
| Diluted EPS | $2.48 | $1.07 | $3.81 | $6.20 | $7.93 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
10 bullish · 1 neutral · 1 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 221.6 | Bullish |
| EMA 10 | 222.0 | Bullish |
| SMA 20 | 215.7 | Bullish |
| EMA 20 | 218.8 | Bullish |
| SMA 50 | 220.1 | Bullish |
| EMA 50 | 218.4 | Bullish |
| SMA 100 | 218.0 | Bullish |
| EMA 100 | 219.7 | Bullish |
| SMA 200 | 224.6 | Bullish |
| EMA 200 | 223.3 | Bullish |
Oscillators (daily)
| RSI (14) | 68.70 | Neutral |
| MACD (12, 26) | 2.76 | Bullish |
| Momentum (12) | 11.30 | Bullish |
| Stochastic %K (14) | 99.60 | Bearish |
| Williams %R (14) | -0.40 | Bearish |
| CCI (20) | 152.6 | Bearish |
Pivot points (classic, last session)
S3 216.3 | S2 219.6 | S1 225.9 | Pivot 229.1 | R1 235.4 | R2 238.7 | R3 245.0 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.58 USD
Yield on today's price
1.11%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.6900 | |
| 0.6300 | |
| 0.6300 | |
| 0.6300 | |
| 0.6300 | |
| 0.5700 | |
| 0.5700 | |
| 0.5700 | |
| 0.5700 | |
| 0.5200 | |
| 0.5200 | |
| 0.5200 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold STE
| ETF | Share of the fund |
|---|---|
| IHI iShares U.S. Medical Devices | 3.20% |
| SDY SPDR S&P Dividend | 0.45% |
| FVD First Trust Value Line Dividend Index | 0.41% |
| NULV Nuveen ESG Large-Cap Value | 0.40% |
| IYH iShares U.S. Healthcare | 0.37% |
| XLV Health Care Select Sector SPDR | 0.36% |
| VHT Vanguard Health Care | 0.33% |
| FHLC Fidelity MSCI Health Care Index | 0.32% |
The eight funds with the largest weight in STE among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
STE stock splits
STE has split its stock 2 times since 1995. The latest was a 2-for-1 split on 25 Aug 1998.
Full STE stock split history →STE SEC filings
8-KSEC EDGAR
Entered a material agreement
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Results of operations; Exit or restructuring costs
DEF 14ASEC EDGAR
Proxy statement
10-KSEC EDGAR
Annual report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change; Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.