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STE

STERIS plc

STE

STERIS plc • NYSE
$266.28 ▼ -0.21% (-0.57)
Market Cap $26.20 B
52w High $268.60
52w Low $200.98
Dividend Yield 2.40%
P/E 38.15
Volume 275.54K
Outstanding Shares 98.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $1.46B ▲ $380.1M ▼ $191.9M ▲ 13.141% ▲ $1.94 ▲ $389.7M ▲
Q1-2026 $1.391B ▼ $382M ▼ $177.4M ▲ 12.752% ▲ $1.8 ▲ $367.2M ▲
Q4-2025 $1.481B ▲ $425.06M ▲ $145.672M ▼ 9.839% ▼ $1.48 ▼ $336.775M ▼
Q3-2025 $1.371B ▲ $365.039M ▲ $173.534M ▲ 12.661% ▲ $1.76 ▲ $373.752M ▲
Q2-2025 $1.329B $359.125M $150.034M 11.29% $1.52 $329.813M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $319.2M ▲ $10.411B ▲ $3.388B ▼ $7.009B ▲
Q1-2026 $279.7M ▲ $10.405B ▲ $3.435B ▼ $6.957B ▲
Q4-2025 $171.701M ▲ $10.147B ▲ $3.531B ▼ $6.603B ▲
Q3-2025 $155.178M ▼ $10.008B ▼ $3.58B ▼ $6.416B ▼
Q2-2025 $172.195M $10.242B $3.632B $6.593B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $192.4M ▲ $287.8M ▼ $-88.3M ▲ $-159.2M ▲ $39.5M ▼ $201.3M ▼
Q1-2026 $178M ▲ $420M ▲ $-108.5M ▼ $-213.1M ▼ $108M ▲ $326.4M ▲
Q4-2025 $146.075M ▼ $260.781M ▼ $-69.8M ▲ $-178.071M ▲ $16.523M ▲ $189.896M ▼
Q3-2025 $173.285M ▲ $332.838M ▲ $-123.904M ▼ $-214.397M ▼ $-17.017M ▲ $243.607M ▲
Q2-2025 $151.214M $250.768M $-105.323M $-180.996M $-26.105M $148.893M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Product
Product
 $720.00M ▲$800.00M ▲$690.00M ▼$750.00M ▲
Service
Service
 $650.00M ▲$680.00M ▲$700.00M ▲$710.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, showing that demand for STERIS’s products and services has been consistently rising. Core profitability measures like gross profit and operating income have generally moved up with sales, suggesting decent cost control and operating leverage as the business scales. The bottom-line earnings picture has been bumpier, with a period of weaker net income that likely reflects acquisition integration, higher interest, or other one-off items rather than a collapse in the underlying business. More recently, net income and earnings per share have recovered, pointing to improving underlying performance, but the past volatility is a reminder that reported profits can swing from year to year even when the core business is solid.

Balance Sheet

Balance Sheet The balance sheet shows a company that expanded aggressively, then began to quietly de‑risk. Total assets jumped after major acquisitions and have since edged down slightly, which often indicates integration, write-downs, or disciplined capital management. Debt climbed during the expansion phase but is now clearly being paid down, while shareholders’ equity has steadily increased. Cash on hand is modest rather than lavish, but when viewed together with rising equity and falling debt, the picture is one of a leveraged but gradually strengthening financial position rather than an overstretched one.

Cash Flow

Cash Flow Cash generation is a key strength. Operating cash flow has grown over time, broadly in line with the expansion of the business, which signals that reported earnings are backed by real cash. After covering capital spending, STERIS still produces a healthy and rising level of free cash flow, even as it continues to invest in facilities and equipment. Capital spending looks disciplined rather than excessive, allowing room to reduce debt, support dividends or buybacks if desired, and still fund growth initiatives. Overall, the cash flow profile is stable and supportive of long-term commitments.

Competitive Edge

Competitive Edge STERIS operates in a niche—infection prevention, sterilization, and surgical infrastructure—where reliability, safety, and regulatory compliance matter more than price alone. Once its systems are installed in a hospital, pharma plant, or device factory, they are deeply embedded in workflows and quality protocols, making it costly and risky for customers to switch providers. Heavy regulation in sterilization and medical devices creates a barrier to new entrants, while STERIS’s global footprint and broad product range reinforce its role as a preferred partner rather than a commodity supplier. A large share of revenue comes from recurring services and consumables tied to installed equipment, which further stabilizes its position and makes the customer relationship long lasting.

Innovation and R&D

Innovation and R&D Innovation at STERIS is practical and customer-focused, aimed at solving real problems in sterilization, decontamination, and surgical efficiency. The company has a long track record of introducing new sterilization technologies and enhancing traditional methods, from vaporized hydrogen peroxide systems to more efficient steam sterilizers and automated endoscope reprocessing. Its “technology‑neutral” approach—offering multiple sterilization modalities—lets it adapt solutions to each customer and to shifting regulations. Participation in regulatory innovation programs and ongoing launches of upgraded products, digital connectivity features, and specialized consumables indicate an active pipeline. Acquisitions have also been used to accelerate innovation and broaden capabilities, though they increase execution risk if integrations are not well managed.

Summary

Overall, STERIS combines steady top-line growth, improving cash generation, and a gradually strengthening balance sheet with a business model that is hard for competitors to dislodge. The company benefits from structural healthcare trends—aging populations, higher surgical volumes, and stricter infection‑control standards—while its installed base and recurring revenue create resilience. Past earnings volatility and the use of leverage for acquisitions highlight some risk around integration, regulatory change, and financing conditions, but recent results suggest these are being managed rather than ignored. The innovation engine, regulatory know‑how, and one‑stop‑shop offering form a durable competitive foundation, positioning STERIS as a long-term player in the critical field of infection prevention and sterile processing.

NEWS

November 5, 2025 · 4:30 PM UTC

STERIS Announces Financial Results for Fiscal 2026 Second Quarter

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October 29, 2025 · 4:30 PM UTC

STERIS Announces Dividend of $0.63 per share

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October 21, 2025 · 4:30 PM UTC

STERIS to Host a Conference Call for Fiscal 2026 Second Quarter Results on November 6, 2025

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