Business Description
STERIS plc is a global medical technology company specializing in infection prevention, sterilization, and surgical products. The company provides contract sterilization services, capital equipment such as sterilizers and surgical tables, and consumable products to hospitals, pharmaceutical manufacturers, and medical device makers. While legally domiciled in Ireland, STERIS maintains its operational headquarters in Mentor, Ohio.
Financial Statements
In thousands, USD
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Total Revenues | 5,935,900 | 5,459,500 | 5,138,700 | 4,536,266 |
| Cost of Sales | 3,309,400 | 3,056,800 | 2,920,500 | 2,555,540 |
| Gross Profit | 2,626,500 | 2,402,800 | 2,218,200 | 1,980,726 |
| Selling, General & Administrative Expenses | 1,407,700 | 1,334,300 | 1,252,300 | 1,090,663 |
| Research & Development Expenses | 112,900 | 107,600 | 103,700 | 98,477 |
| Other Operating Expenses | 4,100 | 94,200 | 26,000 | 485 |
| Operating Profit | 1,101,800 | 866,600 | 836,100 | 791,101 |
| Interest and Investment Income | 9,800 | 8,400 | 11,000 | (2,879) |
| Interest Expense | (60,700) | (86,300) | (144,400) | (107,956) |
| Non-Operating Income | (3,500) | 7,400 | — | — |
| Total Non-Operating Income | (54,400) | (70,500) | (133,400) | (110,835) |
| Income Before Provision for Income Taxes | 1,047,300 | 796,200 | 702,800 | 680,266 |
| Provision for Income Taxes | 262,200 | 184,700 | 149,500 | 124,069 |
| Consolidated Net Income | 785,100 | 616,100 | 380,100 | 105,813 |
| Net Income Attributable to Minority Interests and Other | 2,800 | 1,400 | 1,800 | (1,217) |
| Net Income Attributable to Discontinued Operations | — | 4,500 | (173,200) | (450,384) |
| Net Income Attributable to Common Shareholders | 782,300 | 614,600 | 378,200 | 107,030 |
| Basic EPS | 7.97 | 6.24 | 3.83 | 1.07 |
| Diluted EPS | 7.93 | 6.20 | 3.81 | 1.07 |
| Basic Weighted Average Shares Outstanding | 98,200 | 98,600 | 98,800 | 99,706 |
| Diluted Weighted Average Shares Outstanding | 98,700 | 99,100 | 99,400 | 100,246 |
| Shares Outstanding | 97,800 | 98,300 | 98,900 | 98,600 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 439,600 | 171,700 | 207,020 | 208,357 |
| Total Cash and Cash Equivalents | 439,600 | 171,700 | 207,020 | 208,357 |
| Accounts Receivable | 1,092,800 | 1,044,000 | 1,008,315 | 864,988 |
| Total Trade Receivables | 1,092,800 | 1,044,000 | 1,008,315 | 864,988 |
| Inventories | 631,800 | 581,300 | 674,535 | 604,410 |
| Other Current Assets | 230,400 | 203,800 | 979,253 | 333,687 |
| Total Current Assets | 2,394,600 | 2,000,800 | 2,869,123 | 2,011,442 |
| Net Property, Plant & Equipment | 2,316,400 | 2,112,900 | 1,938,381 | 1,799,328 |
| Net Intangible Assets | 1,620,000 | 1,854,400 | 2,119,282 | 2,076,699 |
| Goodwill | 4,194,800 | 4,095,700 | 4,070,712 | 3,879,219 |
| Other Long-Term Assets | 211,400 | 83,000 | 66,199 | 1,055,151 |
| Total Assets | 10,737,200 | 10,146,800 | 11,063,697 | 10,821,839 |
| Accounts Payable | 338,800 | 280,800 | 251,723 | 264,165 |
| Accrued Expenses | 651,600 | 582,300 | 498,215 | 456,972 |
| Short-Term Debt | 118,900 | 125,000 | 85,938 | 60,000 |
| Current Portion of Leases | 35,800 | 34,200 | 31,239 | 30,065 |
| Other Current Liabilities | — | — | 64,012 | 50,642 |
| Total Current Liabilities | 1,145,000 | 1,022,200 | 931,127 | 861,844 |
| Long-Term Debt | 1,812,800 | 1,918,700 | 3,120,162 | 3,018,655 |
| Leases | 119,600 | 124,600 | 145,828 | 139,557 |
| Other Long-Term Liabilities | 462,400 | 465,600 | 551,234 | 714,611 |
| Total Long-Term Liabilities | 2,394,800 | 2,508,900 | 3,817,224 | 3,872,823 |
| Total Liabilities | 3,540,000 | 3,531,100 | 4,748,351 | 4,734,667 |
| Common Stock | 4,280,900 | 4,420,400 | 4,543,176 | 4,486,375 |
| Accumulated Other Comprehensive Income | (113,100) | (292,300) | (328,657) | (320,710) |
| Retained Earnings | 3,015,900 | 2,475,300 | 2,087,645 | 1,911,533 |
| Total Common Shareholders' Equity | 7,183,600 | 6,603,400 | 6,302,164 | 6,077,198 |
| Minority Interests and Other | 13,600 | 12,400 | 13,182 | 9,974 |
| Total Shareholders' Equity | 7,197,200 | 6,615,800 | 6,315,346 | 6,087,172 |
| Total Liabilities and Shareholders' Equity | 10,737,200 | 10,146,800 | 11,063,697 | 10,821,839 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Net Income | 785,100 | 616,100 | 380,100 | 105,813 |
| Depreciation & Amortization | 486,500 | 476,200 | 565,200 | 552,897 |
| Share-Based Compensation Expense | 61,700 | 57,400 | 56,500 | 38,951 |
| Other Adjustments | (19,200) | (68,100) | 117,400 | 309,309 |
| Changes in Trade Receivables | (25,100) | (28,800) | (128,100) | (133,304) |
| Changes in Inventories | (24,000) | 73,100 | (37,500) | (123,921) |
| Changes in Accounts Payable | 51,100 | 33,600 | (19,000) | 53,342 |
| Changes in Other Operating Activities | 25,100 | (11,400) | 38,400 | (46,140) |
| Cash from Operating Activities | 1,341,400 | 1,148,100 | 973,300 | 756,947 |
| Capital Expenditure | (369,000) | (370,100) | (360,300) | (361,969) |
| Proceeds from Sale of Property, Plant & Equipment | 10,500 | 9,200 | 7,400 | 14,587 |
| Purchases of Investments | (134,000) | (10,800) | (1,500) | — |
| Proceeds from Sale of Investments | — | — | 3,900 | — |
| Payments for Business Acquisitions | (20,100) | (54,100) | (546,300) | (42,572) |
| Proceeds from Business Divestments | — | 814,600 | 9,500 | 6,624 |
| Cash from Investing Activities | (512,500) | 388,800 | (887,400) | (383,330) |
| Issuance of Short-Term Debt | 3,000 | (446,300) | 181,500 | 241,657 |
| Net Issuance / (Repayments) of Short-Term Debt | 3,000 | (446,300) | 181,500 | 241,657 |
| Repayments of Long-Term Debt | (125,000) | (718,100) | (60,000) | (247,875) |
| Net Issuance / (Repayments) of Long-Term Debt | (125,000) | (718,100) | (60,000) | (247,875) |
| Issuance of Common Shares | 32,900 | 25,500 | 10,500 | 1,828 |
| Repurchases of Common Shares | (235,500) | (211,300) | (11,800) | (308,565) |
| Net Issuance / (Repurchases) of Common Shares | (202,600) | (185,800) | (1,300) | (306,737) |
| Common Share Dividends Paid | (241,800) | (219,900) | (200,600) | (183,498) |
| Other Financing Activities | (1,800) | (2,300) | (4,800) | (2,265) |
| Cash from Financing Activities | (568,200) | (1,572,400) | (85,200) | (498,718) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 7,200 | 200 | (2,100) | (14,862) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | 267,900 | (35,300) | (1,300) | (139,963) |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $21.63B |
| P/E | 27.89x |
| P/S | 3.64x |
| EV/EBITDA | 14.66x |
| Return on Equity | 11.4% |
| Return on Invested Capital | 9.0% |
| Current Ratio | 2.09x |
| Dividend Yield | 1.1% |
| Free Cash Flow Margin | 16.4% |
Margins
Gross margin
44.2%
Operating margin
18.6%
Net margin
13.2%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q1 2027 | $1.49B | +7.3% | 19.1% | $286M |
| Q4 2026 | $1.59B | +7.3% | 19.9% | $317M |
| Q3 2026 | $1.50B | +9.2% | 18.3% | $273M |
| Q2 2026 | $1.46B | +9.9% | 18.2% | $266M |
| Q1 2026 | $1.39B | — | 17.7% | $246M |
| Q4 2025 | $1.48B | — | 14.6% | $216M |
| Q3 2025 | $1.37B | — | 17.9% | $245M |
| Q2 2025 | $1.33B | — | 16.5% | $220M |
More on STERIS plc
Figures compiled from public company filings.
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