STERIS plc
Rank #288Capital ReturnSTE · NYSE · Healthcare
STERIS plc (STE) — Rank #288 by gross profitability (GP/assets 0.24) · ROE 10.9% · Piotroski F-Score 9 / 9.
As-of 2026-09-15 · CIK 0001757898 · all metrics point-in-time as of the filing date.
About
STERIS plc provides infection prevention products and services in the United States, Ireland, and internationally.
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It operates through three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences. The company offers cleaning chemistries and sterility assurance products, automated endoscope reprocessing system and tracking products, endoscopy accessories, instruments, washers, and sterilizers and other pieces of capital equipment, as well as equipment used directly in the procedure rooms, including surgical tables, lights, equipment management services, and connectivity solutions; and various preventive maintenance programs, repair services, custom process improvement consulting, and outsourced instrument sterile processing, as well as instrument, devices, and endoscope repair and maintenance services. It also provides process controls and monitoring systems, as well as integrated sterilization equipment, such as accelerators, product handling, and automation; and sterilization modalities, product development, materials testing, and process validation, as well as support services for sterilization equipment and control systems comprising installation, preventive maintenance, updates, repairs, and troubleshooting. In addition, the company offers pharmaceutical detergents, cleanroom disinfectants and sterilants, pharmaceutical grade and research sterilizers and washers, sterility assurance and maintenance products, vaporized hydrogen peroxide room decontamination systems and sterilizers, and high purity water and pure steam generators; and preventive maintenance programs and repair services to support the operation of capital equipment. It serves healthcare providers, medical device and pharmaceutical manufacturers, biopharmaceutical manufacturing facilities, and hospitals. The company was formerly known as New STERIS Limited and changed its name to STERIS plc in November 2015.
STERIS plc was founded in 1985 and is headquartered in Mentor, Ohio.
- Industry
- Medical Devices
- Sector
- Healthcare
- State
- L2
- Filer Category
- Large accelerated filer
- Fiscal Year End
- March 31
- Website
- steris.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$20.77B
P/E (annual)
26.9
P/S (annual)
3.5
P/B
2.9
P/OCF (annual)
15.5
Shareholder Yield
1.6%
Employees
17,937
Industry
Medical Devices
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 1/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
8.8%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -0.4% — per-share value needs a total required return of 8.4% once share-count change is priced in.
vs. own 6-year median revenue growth: 8.4%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
4.4%
r = 10% (base)
8.8%
r = 12%
12.6%
Net debt / market cap: 6.7%
Note: current FCF margin is 1.6σ above its historical mean — implied growth may understate valuation risk if the margin reverts.
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.24
Primary signal (Novy-Marx).
25th pctl of 37 SIC 38 peers
Return on equity
10.9%
Gross margin
44.2%
31st pctl of 37 SIC 38 peers
Revenue growth (YoY)
8.7%
RPO growth (YoY)
-17.6%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2023 | 2024 | 2025 | 2026 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
9.4%
Revenue CAGR (5Y)
13.8%
Earnings CAGR (3Y)
94.1%
FCF CAGR (3Y)
35.0%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.49
76th pctl of 35 SIC 38 peers (best = lowest)
Current ratio
1.91×
26th pctl of 36 SIC 38 peers
Quick ratio
1.17×
Net cash
-$1.41B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$972.40M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.24
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
1.0%
Stock-based comp intensity.
Dividend safety
Composite score
3.8 / 5
Piotroski F-Score
F-Score
9 / 9
Fundamental-strength score (0-9).