STERIS plc STE

Health CareHealthcare Equipment & SuppliesIreland

Last close 227.12 USD on Nov 1, 2026, −9.6% year to date

Quant rating

Quant rating B Rank 94 of 565 in Health Care

Growth B 193 of 565
Valuation A 84 of 565
Quality A 65 of 565
Revisions B 205 of 565
Momentum C 287 of 565

Wall Street consensus Buy (2.11)Average target 264.03 USD +16.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 22.1B
Enterprise value: 23.6B
52-week range: 195.14 – 269.23
3-year range: 195.14 – 269.23
Dividend yield: 1.22%
Beta (5 years): 0.88
Shares outstanding: 97.5M
Next earnings: Nov 4, 2026

About the company

STERIS Plc is a provider of products and services that support patient care with an emphasis on infection prevention. Its segments include Healthcare, Applied Sterilization Technologies (AST), and Life Sciences. Its Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms and endoscopy suites. AST segment supports medical device and pharmaceutical manufacturers through a global network of contract sterilization and laboratory testing facilities, and integrated sterilization equipment and control systems. Its Life Sciences segment provides a comprehensive offering of products and services designed to support biopharmaceutical and medical device manufacturing facilities, particularly those focused on aseptic manufacturing. Its portfolio includes a full suite of consumable products, equipment maintenance, specialty services, and capital equipment.

Growth and profitability fiscal year ends March 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	5,936	5,460	5,139	4,536	4,223	–
Revenue growth	8.7%	6.2%	13.3%	7.4%	35.9%	13.8%
EPS (basic, normalized)	10.17	9.33	8.83	8.20	7.92	–
EPS growth	9.0%	5.7%	7.7%	3.5%	–	–
Gross margin	44.2%	44.0%	43.2%	43.7%	44.6%	43.9%
Net margin	13.2%	11.2%	10.7%	12.3%	6.8%	10.8%
ROE	11.3%	9.5%	8.9%	8.8%	5.5%	8.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	482
Current ratio	1.91x
Long-term debt (mil)	1,650
Net debt (mil)	1,426
Total equity (mil)	7,207
Net debt / equity	0.20x
Net debt / EBITDA	0.89x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	5,936	+8.7%	4.0x	1,603	+1.5%	14.7x	10.17	+9.0%	22.3x
2027	6,373	+7.4%	3.7x	1,834	+14.4%	12.9x	11.18	+9.9%	20.3x
2028	6,778	+6.3%	3.5x	1,976	+7.8%	11.9x	12.26	+9.7%	18.5x
2029	7,207	+6.3%	3.3x	2,104	+6.4%	11.2x	13.43	+9.5%	16.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	6,373	0.0%	0.0%	+0.9%	11.18	0.0%	+0.1%	+0.7%
2028	6,778	0.0%	0.0%	+0.3%	12.26	+0.1%	+0.3%	+0.6%
2029	7,207	0.0%	+0.1%	+1.4%	13.43	0.0%	−0.2%	+11.3%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,419	1,280	1,329	1,371	1,481	1,391	1,460	1,496	1,588	1,493
Sales mean (mil)	1,411	1,272	1,330	1,382	1,469	1,363	1,431	1,481	1,595	1,498
Surprise	+0.6%	+0.6%	−0.1%	−0.8%	+0.8%	+2.1%	+2.0%	+1.0%	−0.4%	−0.3%
EPS reported	2.58	2.14	2.14	2.32	2.74	2.34	2.47	2.53	2.83	2.59
EPS mean	2.35	1.98	2.12	2.32	2.59	2.26	2.35	2.53	2.85	2.50
Surprise	+9.8%	+8.2%	+0.8%	−0.1%	+5.6%	+3.4%	+5.1%	−0.1%	−0.6%	+3.5%

Peer comparison Healthcare Equipment & Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
STE STERIS plc	22.1B	0.89x	13.2%	3.07x	20.3x	18.5x	12.9x	11.9x
ABT Abbott Laboratories	183.8B	2.36x	14.7%	3.60x	19.2x	17.9x	16.0x	14.5x
ISRG Intuitive Surgical, Inc.	149.8B	−0.91x	28.4%	9.37x	38.4x	34.7x	26.1x	24.0x
MDT Medtronic PLC	123.5B	1.99x	13.2%	2.46x	16.2x	15.1x	12.8x	12.3x
SYK Stryker Corporation	111.9B	1.54x	12.9%	4.77x	19.7x	17.9x	15.7x	14.6x
BSX Boston Scientific Corporation	60.8B	2.03x	14.4%	2.44x	13.2x	13.3x	11.4x	11.4x
Mean		1.32x	16.1%	4.28x	21.2x	19.6x	15.8x	14.8x
Median		1.77x	13.8%	3.33x	19.5x	17.9x	14.3x	13.4x

Technical analysis

1M+7.6%
3M−1.1%
1Y−4.8%
3Y+11.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, STERIS plc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	5,936	5,460	5,139	4,536	4,223	3,108
Cost of revenue	3,309	3,057	2,921	2,556	2,340	1,764
Gross profit	2,626	2,403	2,218	1,981	1,883	1,343
Selling, general & administrative expenses	1,402	1,323	1,227	1,067	1,117	731
Research & development	113	108	104	98.5	86.7	66.3
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	13.8	97.9	51.6	24.0	202	−2.9
Other operating expenses	0	0	0	0	0	0
Operating income	1,098	874	836	791	478	548
Net interest income (expense)	−50.9	−77.9	−133	−111	−83.2	−30.8
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.1	0	0	0	−27.8	0
Net income before taxes	1,047	796	703	680	367	518
Provision for taxes	262	185	150	124	82.3	121
Minority interest	−2.8	−1.4	−1.8	1.2	1.0	0.5
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	782	610	551	557	285	397
Extraordinary items	0	4.5	−173	−450	−41.6	–
Net income	782	615	378	107	244	397
EBIT, normalized	1,117	994	918	827	732	611
EBITDA, normalized	1,603	1,470	1,483	1,380	1,285	830
Basic EPS, normalized	10.17	9.33	8.83	8.20	7.92	–

Balance sheet in millions of USD, fiscal years

Balance sheet, STERIS plc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	440	172	207	208	348	221
Receivables	1,093	1,044	1,008	928	799	609
Total inventory	632	581	675	695	575	315
Prepaid expenses	230	204	174	179	157	66.8
Other current assets	0	0	805	0	0	0
Total current assets	2,395	2,001	2,869	2,011	1,879	1,212
Property, plant & equipment	2,316	2,113	1,938	1,897	1,741	1,386
Goodwill	4,195	4,096	4,071	3,879	4,404	3,026
Intangibles	1,620	1,854	2,119	2,956	3,329	898
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	211	83.0	66.2	78.1	70.7	52.7
Total assets	10,737	10,147	11,064	10,822	11,424	6,574
Liabilities
Accounts payable	339	281	252	280	226	157
Payable/accrued	–	–	–	–	–	–
Accrued expenses	509	455	362	299	328	266
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	119	125	85.9	60.0	143	–
Other current liabilities	178	162	231	224	226	155
Total current liabilities	1,145	1,022	931	862	922	578
Long-term debt	1,813	1,919	3,120	3,019	2,945	1,651
Minority interest	13.6	12.4	13.2	10.0	12.3	10.5
Other liabilities	582	590	697	854	1,011	455
Total liabilities	3,554	3,543	4,762	4,745	4,891	2,693
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	4,281	4,420	4,543	4,486	4,743	2,003
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	3,016	2,475	2,088	1,912	1,999	1,939
Treasury stock	–	–	–	–	–	–
Other equity	−113	−292	−329	−321	−210	−61.2
Total equity	7,184	6,603	6,302	6,077	6,532	3,881
Total liabilities & shareholders' equity	10,737	10,147	11,064	10,822	11,424	6,574

Cash flow statement in millions of USD, fiscal years

Cash flow statement, STERIS plc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	785	616	380	106	243	397
Depreciation, depletion & amortization	486	476	565	553	553	219
Deferred taxes	−16.9	−76.5	−131	−186	−107	4.2
Non-cash items	59.7	65.8	305	534	145	50.3
Changes in working capital	27.0	66.5	−146	−250	−149	19.0
Cash from operations	1,341	1,148	973	757	685	690
Investing activities
Capital expenditures	−369	−370	−360	−362	−288	−239
Other investing cash flows	−144	759	−527	−21.4	−379	−915
Cash from investing	−512	389	−887	−383	−667	−1,154
Financing activities
Financing cash flow items	−1.8	−2.2	−4.8	−2.3	−47.5	−17.2
Cash dividends paid	−242	−220	−201	−183	−163	−134
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−325	−1,350	120	−313	326	497
Cash from financing	−568	−1,572	−85.2	−499	116	346
Foreign exchange effects	7.2	0.2	−2.1	−14.9	−6.3	19.8
Net change in cash	268	−35.3	−1.3	−140	128	−99.0
Free cash flow	972	778	613	395	397	450

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.