# Sotera Health Company (SHC)

> Source: Nexqual · https://nexqual.com/SHC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Sotera Health Company (SHC), nexqual.com/SHC" · informational, not investment advice.

**Price:** USD 18.13 (+2.03% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 17.77 · day 17.51–18.15 · 52w 13.09–19.85 · market cap $5.17B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.22B, net income $163M (13.4% margin), free cash flow $113M (SEC filings).
- Valuation: P/E 31.6x (avg 81.8x at the last 3 fiscal year-ends), net debt $1.78B.
- 1 of 80 tracked superinvestors hold SHC (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $797M; 5 not under a Rule 10b5-1 plan ($797M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.10 on a 1–5 scale) (10 analysts), mean target USD 22.61 (range 17–25).
- Total return with dividends: 1Y +7.3% vs S&P 500 +14.9%; 5Y -30.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 0.27, revenue estimate $320M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $931M | $1.00B | $1.05B | $1.10B | $1.16B | $1.22B |
| Gross profit | $519M | $557M | $577M | $602M | $646M | — |
| Operating income | $257M | $248M | $277M | $298M | — | — |
| Net income | $117M | -$234M | $51.4M | $44.4M | $77.9M | $163M |
| EPS (diluted) | $0.41 | -$0.83 | $0.18 | $0.16 | $0.27 | — |
| Free cash flow | $179M | $95.6M | -$363M | $45.1M | $149M | $113M |
| Gross margin | 55.7% | 55.5% | 55.0% | 54.7% | 55.5% | — |
| Operating margin | 27.6% | 24.7% | 26.4% | 27.0% | — | — |
| Net margin | 12.5% | -23.3% | 4.9% | 4.0% | 6.7% | 13.4% |
| Revenue growth | +13.9% | +7.8% | +4.5% | +4.9% | +5.7% | — |
| Cash + short-term investments | $107M | $395M | $296M | $277M | $345M | — |
| Total debt | $1.74B | $1.94B | $2.23B | $2.22B | $2.14B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 31.6x · P/S 4.3x · EV/Sales 5.7x · P/FCF 45.9x · P/B 7.8x · FCF yield 2.18% · Earnings yield 3.16% · Net debt $1.78B · EV $6.96B
P/E at fiscal year-ends: Dec 2025 64.8x, Dec 2024 87.8x, Dec 2023 92.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold SHC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 1.88% | $73.4M | Added +100.2% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-17 | Petras Michael B. Jr. | Executive Chairman | 1,144,515 | $21.2M | 20.8% | No | Too little history (no open-market trades in 2023) |
| 2026-08-07 | Rutz Michael P | President of Sterigenics | 150,000 | $2.8M | 31% | No | Too little history (no open-market trades in 2023) |
| 2026-05-13 | Warburg Pincus & Co. | Director | 19,102,952 | $290M | 100% | No | Too little history (no open-market trades in 2023) |
| 2026-05-13 | Warburg Pincus & Co. | Director | 19,102,952 | $290M | 100% | No | Too little history (no open-market trades in 2023) |
| 2026-05-13 | Gtcr Investment Xi Llc | Director | 12,735,301 | $193M | 100% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.10 on a 1–5 scale), 10 analysts; mean target USD 22.61 (low 17, high 25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | JP Morgan | Downgrade | Neutral → Underweight | $17 |
| 2026-08-07 | Citigroup | Target raised | Buy | $23 → $25 |
| 2026-08-07 | Barclays | Target raised | Overweight | $19 → $22 |
| 2026-08-07 | Piper Sandler | Target raised | Overweight | $22 → $25 |
| 2026-08-07 | JP Morgan | Target raised | Neutral | $16 → $18 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +7.3% | -30.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +7.3% | -6.9% |
| Volatility (annualized) | 28.4% | 63.7% |
| Max drawdown | -32.1% (Jan 2026→Mar 2026) | -77.7% (Nov 2021→Nov 2022) |

## Peers (Diagnostics & Research)
BLLN (BillionToOne, Inc.) USD 105.68 +0.96% · RDNT (RadNet, Inc.) USD 70.26 +2.70% · GRAL (GRAIL, Inc.) USD 127.06 -4.18% · ADPT (Adaptive Biotechnologies Corpor) USD 24.41 -3.63% · VCYT (Veracyte, Inc.) USD 46.04 -0.39% · CDNA (CareDx, Inc.) USD 69.16 -2.23%

## More
Full page: https://nexqual.com/SHC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SHC's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1822479/000182247926000015/shc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Sotera Health Topco Parent | "Prior to our initial public offering (the "IPO" as described in Note 14, "Stockholders' Equity"), equity-based awards were issued to employees and non-employee directors in the form of partnership interests in our predec…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Sterigenics | $211.6M | 65.8% | +8.6% | $118.1M | 55.8% |
| Nelson Labs | $60.7M | 18.9% | +6.3% | $19.6M | 32.4% |
| Nordion | $49.1M | 15.3% | +15.8% | $28.0M | 56.9% |
| Corporate costs (not allocated) | — | — | — | $13.0M | — |
| Total revenue | $321.4M | 100% | — | $165.7M | 51.6% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Service | $278.3M | 86.6% | +8.2% |
| Product | $43.0M | 13.4% | +16.0% |
| Total revenue | $321.4M | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $629.5M | 54.1% | +2.1% |
| Europe | $232.2M | 20.0% | +18.5% |
| Canada | $221.9M | 19.1% | +6.3% |
| Other Geographical Areas | $79.9M | 6.9% | +1.4% |
| Total revenue | $1.16B | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "Together, these strengths position us well to deliver consistent and reliable growth." Shader continued, "Based on our strong first-half performance and confidence in the remainder of the year, we are raising our full-year 2026 outlook."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.27 | $0.27 | -0.8% | $319.8M | 10 |
| Next quarter (ends 2026-12-31) | $0.28 | $0.27 | +0.4% | $325.6M | 10 |
| Current fiscal year (ends 2026-12-31) | $0.98 | $0.97 | +1.8% | $1.25B | 10 |
| Next fiscal year (ends 2027-12-31) | $1.07 | $1.06 | +1.4% | $1.32B | 10 |