NYSE: STE
Steris
Health Care · Orthopedic, Prosthetic & Surgical Appliances & Supplies
52-week range
$195.14$269.44
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$20.5B
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| Period | Market cap |
|---|---|
| FY2017, ended Mar 31, 2017 | $5.98B |
| FY2018, ended Mar 31, 2018 | $7.91B |
| FY2019, ended Mar 31, 2019 | $10.8B |
| FY2020, ended Mar 31, 2020 | $11.9B |
| FY2021, ended Mar 31, 2021 | $16.3B |
| FY2022, ended Mar 31, 2022 | $24.2B |
| FY2023, ended Mar 31, 2023 | $18.9B |
| FY2024, ended Mar 31, 2024 | $22.2B |
| FY2025, ended Mar 31, 2025 | $22.3B |
| FY2026, ended Mar 31, 2026 | $21.6B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $20.5B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$6.04B
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| Period | Revenue |
|---|---|
| FY2017, ended Mar 31, 2017 | $2.61B |
| FY2018, ended Mar 31, 2018 | $2.62B |
| FY2019, ended Mar 31, 2019 | $2.78B |
| FY2020, ended Mar 31, 2020 | $3.03B |
| FY2021, ended Mar 31, 2021 | $3.11B |
| FY2022, ended Mar 31, 2022 | $4.22B |
| FY2023, ended Mar 31, 2023 | $4.54B |
| FY2024, ended Mar 31, 2024 | $5.14B |
| FY2025, ended Mar 31, 2025 | $5.46B |
| FY2026, ended Mar 31, 2026 | $5.94B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $6.04B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2017, ended Mar 31, 2017 | $110M | $251M |
| FY2018, ended Mar 31, 2018 | $291M | $292M |
| FY2019, ended Mar 31, 2019 | $304M | $350M |
| FY2020, ended Mar 31, 2020 | $408M | $376M |
| FY2021, ended Mar 31, 2021 | $397M | $450M |
| FY2022, ended Mar 31, 2022 | $244M | $397M |
| FY2023, ended Mar 31, 2023 | $107M | $395M |
| FY2024, ended Mar 31, 2024 | $378M | $613M |
| FY2025, ended Mar 31, 2025 | $615M | $778M |
| FY2026, ended Mar 31, 2026 | $782M | $972M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $805M | $926M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$482M
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| Period | Cash and cash equivalents |
|---|---|
| FY2017, ended Mar 31, 2017 | $283M |
| FY2018, ended Mar 31, 2018 | $202M |
| FY2019, ended Mar 31, 2019 | $221M |
| FY2020, ended Mar 31, 2020 | $320M |
| FY2021, ended Mar 31, 2021 | $221M |
| FY2022, ended Mar 31, 2022 | $348M |
| FY2023, ended Mar 31, 2023 | $208M |
| FY2024, ended Mar 31, 2024 | $207M |
| FY2025, ended Mar 31, 2025 | $172M |
| FY2026, ended Mar 31, 2026 | $440M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $482M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$1.89B
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| Period | Total debt |
|---|---|
| FY2017, ended Mar 31, 2017 | — |
| FY2018, ended Mar 31, 2018 | $1.32B |
| FY2019, ended Mar 31, 2019 | $1.18B |
| FY2020, ended Mar 31, 2020 | $1.15B |
| FY2021, ended Mar 31, 2021 | $1.65B |
| FY2022, ended Mar 31, 2022 | $3.09B |
| FY2023, ended Mar 31, 2023 | $3.08B |
| FY2024, ended Mar 31, 2024 | $3.21B |
| FY2025, ended Mar 31, 2025 | $2.04B |
| FY2026, ended Mar 31, 2026 | $1.93B |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $1.89B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 13.2% since 2017.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.97.5M
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| Period | Shares outstanding |
|---|---|
| FY2017, ended Mar 31, 2017 | 86.1M |
| FY2018, ended Mar 31, 2018 | 84.7M |
| FY2019, ended Mar 31, 2019 | 84.5M |
| FY2020, ended Mar 31, 2020 | 84.9M |
| FY2021, ended Mar 31, 2021 | 85.4M |
| FY2022, ended Mar 31, 2022 | 100M |
| FY2023, ended Mar 31, 2023 | 98.7M |
| FY2024, ended Mar 31, 2024 | 98.9M |
| FY2025, ended Mar 31, 2025 | 98.4M |
| FY2026, ended Mar 31, 2026 | 97.6M |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | 97.5M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $278M more bought back than issued
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| Period | Bought back | Paid to employees | Used in acquisitions |
|---|---|---|---|
| FY2017, ended Mar 31, 2017 | $97.5M | $18.8M | — |
| FY2018, ended Mar 31, 2018 | $65.5M | $22.2M | — |
| FY2019, ended Mar 31, 2019 | $81.5M | $24.0M | — |
| FY2020, ended Mar 31, 2020 | $51.2M | $23.8M | — |
| FY2021, ended Mar 31, 2021 | $14.6M | $26.0M | — |
| FY2022, ended Mar 31, 2022 | $55.8M | $57.7M | $2.69B |
| FY2023, ended Mar 31, 2023 | $309M | $39.0M | — |
| FY2024, ended Mar 31, 2024 | $11.8M | $56.5M | — |
| FY2025, ended Mar 31, 2025 | $211M | $57.4M | — |
| FY2026, ended Mar 31, 2026 | $236M | $61.7M | — |
| Trailing 12 months to Jun 30, 2026 (through Q1 FY2027) | $340M | $62.6M | — |
Revenue (TTM)
$6.04B
+8.4% YoY
Net income (TTM)
$805M
+24.5% YoY
Cash
$482M
+72.4% YoY
Total debt
$1.89B
−0.5% YoY
Valuation
At current price- Market Cap
- $22.1B
- P/E
- 27.5×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 3.7×
- Price / Book
- 3.1×
- EV / EBITDA
- 14.4×
Growth
Trailing 12 months- Revenue (TTM)
- $6.04B
- Revenue Growth YoY
- 8.4%
- Revenue CAGR 3Y
- 9.4%
- Revenue CAGR 5Y
- 13.8%
- EPS Growth YoY
- —. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- 24.5%
Profitability
Trailing 12 months- Gross Margin
- 44.4%
- Operating Margin
- 18.9%
- Net Margin
- 13.3%
- FCF Margin
- 15.3%
- Return on Equity
- 11.4%
Earnings
Trailing 12 months- Net Income
- $805M
- EPS (diluted)
- —
- EBITDA
- $1.63B
- Operating Income
- $1.14B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $482M
- Total Debt
- $1.89B
- Net Debt
- $1.41B
- Total Assets
- $10.7B
- Total Liabilities
- $3.51B
- Shareholders' Equity
- $7.21B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.29B
- Capital Expenditure
- $363M
- Free Cash Flow
- $926M
Dividends and risk
Last 12 months- Dividend Yield
- 0.9%
- Dividend / Share
- $1.95
- Beta (5Y)
- 0.92
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 8.4% year over year, at $6.04B.
Strength
Operating margin widened 2.3 pts in a year, to 18.9%.
Note
Net debt of $1.41B is 0.9× EBITDA, a manageable load.
Strength
Turns 15.3% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Mar 31, 2026 · filed May 29, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K67Mildly positive
67Mildly positive
10-K for the fiscal year ended Mar 31, 2025
Filed May 29, 2025 · Read the filing on EDGAR
- Revenue rose 6.2% to $5.46 billion and operating income rose 3.7% to $866.6 million, driven by higher volume and pricing.
- STERIS closed the Dental sale and used most of the proceeds to pay down debt, cutting debt-to-total capital from 33.7% to 23.6%.
- STERIS agreed to pay up to about $48.2 million to settle substantially all Illinois ethylene oxide (EO) personal injury claims.
- Buybacks resumed with $200 million of shares purchased, while the filing adds new warnings about tariffs and changing trade policy.
Business momentum
Improving
“Fiscal 2025 income from operations increased 3.7% to $866.6 million over fiscal 2024 income from operations of $836.1 million.”
Outlook
Positive
“In fiscal 2026 and beyond, we expect to manage our costs, grow our business with internal product and service development, invest in greater capacity, and augment these value creating methods with potential acquisitions of additional products and services.”
Financial stress
Low
“At March 31, 2025, we had $1,048.6 million of unused funding available under the Revolving Credit Agreement.”
Tone against the previous report
About the same
Red flags
- Minor
Major lawsuit
“In March 2025, we agreed to pay up to approximately $48.2 million to resolve substantially all of the claims for personal injury against a subsidiary related to EO exposure that are pending in the Circuit Court of Cook County, Illinois.”
Positives
Free cash flow grew strongly on better collections and inventory management
“Free cash flow was $787.2 million in fiscal 2025, compared to $620.3 million in fiscal 2024”
Debt fell sharply relative to total capital after the Dental sale
“Our debt-to-total capital ratio was 23.6% at March 31, 2025 and 33.7% at March 31, 2024.”
Consumable sales grew at a double-digit rate
“Consumable revenues for fiscal 2025 increased $183.5 million, or 12.2%, over fiscal 2024, reflecting growth in the Healthcare and Life Sciences segments.”
Concerns
Capital equipment sales declined
“Capital equipment revenues for fiscal 2025 decreased by $75.9 million, or 6.0%, as compared to fiscal 2024, reflecting declines in the Healthcare and Life Sciences segments, partially offset by growth in the AST segment.”
More EO lawsuits could follow despite the Illinois settlement
“These developments, as well as other publicity related to EO litigation or regulatory activity, may increase the likelihood that we will continue to be subject to these claims or that we will be subject to more claims on behalf of similar plaintiffs in the future.”
Labor costs squeezed margins in the sterilization services segment
“The decrease in operating margin is primarily due to higher labor costs and unfavorable productivity, which was partially offset by higher pricing.”
New risks since the previous report
Tariffs and changing trade policy could raise costs and reduce demand
“Tariffs, trade restrictions and other changes to international trade policies may result in increased production costs and product pricing, supply chain disruptions, limited access to end markets, lower profitability”
Biggest risks named
- Ethylene oxide regulation, litigation and possible limits on use
- Tariffs, trade policy changes and geopolitical instability
- Supply chain disruption and limited suppliers of cobalt-60 and EO
- Tax law changes, including global minimum tax and challenges to Irish status
- About $2 billion of debt and possible impairment of $4 billion goodwill
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −1.2 | |
| New risks | −0.5 | |
| Score | 67 | |
Written by AI (Claude Opus 5.5) from the report’s text. 11 of 11 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | May 29, 2026 | Pro | |||
| 10-K | May 29, 2025 | 67 | Improving | 1 minor | |
| 10-K | May 29, 2024 | 68 | Improving | 1 minor | |
| 10-K | May 26, 2023 | 38 | Sharp deterioration | 1 medium | |
| 10-K | May 31, 2022 | 53 | Mixed | None | |
| 10-K | May 28, 2021 | 58 | Stable | None | |
| 10-K | May 29, 2020 | 66 | Strong improvement | None | |
| 10-K | May 30, 2019 | 68 | Improving | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q1 FY2027 (period ended Jun 30, 2026), filed Aug 7, 2026. View filings on SEC EDGAR