# STERIS plc (STE)

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

**Price:** USD 232.22 (+4.85% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 221.48 · day 222.78–232.32 · 52w 195.14–269.44 · market cap $22.6B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $6.04B, net income $805M (13.3% margin), free cash flow $926M (SEC filings).
- Valuation: P/E 28.1x (avg 41.2x at the last 3 fiscal year-ends), EV/EBITDA 14.7x, net debt $1.41B.
- 1 of 80 tracked superinvestors hold STE (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $2.5M; 2 not under a Rule 10b5-1 plan ($1.3M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (8 analysts), mean target USD 259.17 (range 232–275).
- Total return with dividends: 1Y -3.2% vs S&P 500 +14.9%; 5Y +3.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 2.68, revenue estimate $1.56B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.22B | $4.54B | $5.14B | $5.46B | $5.94B | $6.04B |
| Gross profit | $1.88B | $1.98B | $2.22B | $2.40B | $2.63B | — |
| Operating income | $478M | $791M | $836M | $867M | $1.10B | $1.14B |
| Net income | $244M | $107M | $378M | $615M | $782M | $805M |
| EPS (diluted) | $2.48 | $1.07 | $3.81 | $6.20 | $7.93 | — |
| Free cash flow | $397M | $395M | $613M | $778M | $972M | $926M |
| Gross margin | 44.6% | 43.7% | 43.2% | 44.0% | 44.2% | — |
| Operating margin | 11.3% | 17.4% | 16.3% | 15.9% | 18.6% | 18.9% |
| Net margin | 5.8% | 2.4% | 7.4% | 11.3% | 13.2% | 13.3% |
| Revenue growth | +35.9% | +7.4% | +13.3% | +6.2% | +8.7% | — |
| Cash + short-term investments | $348M | $208M | $207M | $172M | $440M | — |
| Total debt | $3.09B | $3.08B | $3.21B | $2.04B | $1.93B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 28.1x · P/S 3.8x · EV/EBITDA 14.7x · EV/Sales 4.0x · P/FCF 24.5x · P/B 3.1x · FCF yield 4.09% · Earnings yield 3.56% · Dividend yield (paid, TTM) 1.09% · Buyback yield (TTM) 1.50% · Net debt $1.41B · EV $24.1B
P/E at fiscal year-ends: Mar 2026 27.9x, Mar 2025 36.5x, Mar 2024 59.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold STE. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | <0.01% | $20K | Added +427.8% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 4 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 |
|---|---|---|---|---|---|---|---|
| 2026-08-12 | Sohi Mohsen | Director | 4,058 | $957K | 14.3% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-15 | Zangerle John Adam | Sr. VP, Gen Counsel, and Sec. | 1,419 | $297K | 3.9% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-04…2026-06-05 | Carestio Daniel A | President and CEO | 4,428 | $947K | 6.5% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-02 | Breeden Richard C | Director | 1,481 | $310K | 2.2% | No | Too little history (no open-market trades in 2024 or 2025) |
% 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 2.00 on a 1–5 scale), 8 analysts; mean target USD 259.17 (low 232, high 275).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-07 | UBS | Target lowered | Buy | $275 → $270 |
| 2026-08-07 | Piper Sandler | Target raised | Overweight | $270 → $275 |
| 2026-07-28 | UBS | Initiated | Buy | $275 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -3.2% | +3.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -3.2% | +0.7% |
| Volatility (annualized) | 26.0% | 26.5% |
| Max drawdown | -25.4% (Jan 2026→Jun 2026) | -34.3% (Apr 2022→Oct 2022) |

## Peers (Medical Devices)
PHG (Koninklijke Philips N.V. NY Reg) USD 26.92 +2.63% · ZBH (Zimmer Biomet Holdings, Inc.) USD 98.81 +4.16% · DXCM (DexCom, Inc.) USD 78.32 -2.42% · GEHC (GE HealthCare Technologies Inc.) USD 71.42 +3.49% · PEN (Penumbra, Inc.) USD 324.96 +0.43% · SNN (Smith & Nephew SNATS, Inc.) USD 30.88 +5.64%

## More
Full page: https://nexqual.com/STE · 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)


Other companies that name STE in their own reports (relationship from STE's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | MiniMed Group, Inc. (MMED) | 10-K 2026-06-29 | "Our sole suppliers include Convatec Group plc for the infusion sets used in our insulin pumps, Forj Medical (f/k/a Intricon Corporation) for transmitters, and Steris plc and Steri-Tech Inc. for steril…" |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Healthcare | $1.05B | 70.2% | +7.6% |
| Applied Sterilization Technologies | $297.6M | 19.9% | +5.8% |
| Life Sciences: | $146.7M | 9.8% | +8.5% |
| Total revenue | $1.49B | 100% | — |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Service | $755.5M | 50.6% | +7.8% |
| Product | $737.2M | 49.4% | +6.8% |
| Servicerevenues | $425.9M | 28.5% | +9.6% |
| Consumablerevenues | $391.9M | 26.3% | +9.2% |
| Capitalequipmentrevenues | $230.5M | 15.4% | +1.4% |
| Total revenue | $1.49B | 100% | — |
The lines above cover 170.2% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| UNITED STATES | $1.09B | 73.1% | +6.3% |
| Other locations | $373.2M | 25.0% | +8.8% |
| IRELAND | $29.0M | 1.9% | +28.9% |
| Total revenue | $1.49B | 100% | — |

## Company outlook (8-K filed 2026-08-05)

- "The Company is reiterating its prior guidance for revenue and earnings for fiscal 2027."
- "Adjusted earnings per diluted share are anticipated to be in the range of $11.10 to $11.30, unchanged from prior expectations."
- "Reflecting the recently announced investment to build a formulated chemistries manufacturing Center of Excellence in North Carolina, capital expenditures are now anticipated to be approximately $450 million compared with prior expectations of $375 million."
- "Free cash flow is now expected to be approximately $800 million compared with prior expectations of $850 million, as the increase in capital expenditures are anticipated to be somewhat offset by the stronger than expected first quarter cash flow."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $2.68 | $2.70 | -0.7% | $1.56B | 5 |
| Next quarter (ends 2026-12-31) | $2.80 | $2.81 | -0.4% | $1.61B | 5 |
| Current fiscal year (ends 2027-03-31) | $11.17 | $11.16 | +0.1% | $6.37B | 7 |
| Next fiscal year (ends 2028-03-31) | $12.28 | $12.18 | +0.8% | $6.77B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-04): ±7.1%; last 8 reports averaged ±4.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 31.5% | ±7.1% |
| 2026-12-18 | 56 | 27.9% | ±8.7% |
| 2027-03-19 | 147 | 27.6% | ±13.9% |
| 2027-06-17 | 237 | 27.9% | ±17.8% |