Health Care · Health Care Equipment · US stock · price as of 16 Oct 2026
Key indicators
Price
$222.66
52-week range
$193.97 – $267.14
Market cap
$21.8B
P/E (trailing)
27.2×
EV / EBITDA
14.2×
Free-cash-flow yield
4.2%
Dividend yield
1.2%
Revenue (last 12 months)
$6.0B
Revenue growth (3y a year)
9.4%
Operating margin
18.9%
Return on invested capital
9.8%
Net debt / EBITDA
0.9×
Fair value
Blended fair value$238.12 range $227 – $251
Versus priceFair+7% to fair value
Peer multiples
$222.66
Fundamentals-adjusted multiple
$250.57
10-year DCF (market-scaled)
$241.14
Earnings power value (floor, not blended)
$70.30
Model uncertainty
Medium
X-Ray Score
64/ 100 · High confidence · ahead of 80% of sector peers
Valuation57
Growth77
Profitability49
Financial health78
Dividends62
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
STERIS provides products and services that support infection prevention, sterilization and surgical care. It makes sterilizers, surgical tables and lights, and endoscopy accessories, and it offers sterile processing and reprocessing services to hospitals, drug makers and other customers. Revenue comes from equipment sales, consumable supplies such as cleaning and sterilizing agents, and recurring service contracts, which add a measure of steadiness to results.
Revenue has grown 9.4% a year over three years, leaving the last twelve months at $6.0 billion. Operating margin is 18.9%. Return on invested capital comes to 10%. On leverage, net debt to EBITDA is 0.9 times. A dividend is paid, with a yield of 1.2%.
StocksXray gives STERIS plc an X-Ray Score of 64 out of 100 (high confidence), ahead of 80% of the S&P 500 stocks in its sector. Its strongest lens is financial health (78) and its weakest is profitability (49).
Our fair value blend is $238.12 (range $226.96 to $250.63). At $222.66 the stock trades 6% below that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
STERIS plc (STE)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2022
FY2023
FY2024
FY2025
FY2026
Now
Price
$231.13
$184.65
$219.08
$223.06
$219.80
$222.66
Market cap
$22.7B
$18.5B
$21.8B
$22.1B
$21.7B
$21.8B
P/E
93.2×
172.6×
57.5×
36.0×
27.7×
27.2×
EV / revenue
6.0×
4.7×
4.8×
4.4×
3.9×
3.8×
EV / EBITDA
24.7×
15.9×
17.7×
17.9×
14.6×
14.2×
Price / free cash flow
57.2×
46.9×
35.5×
28.4×
22.3×
23.6×
Free-cash-flow yield
1.7%
2.1%
2.8%
3.5%
4.5%
4.2%
Price / book
3.5×
3.0×
3.5×
3.3×
3.0×
3.0×
Dividend yield
0.73%
1.00%
0.93%
1.00%
1.12%
1.16%
Fundamentals checklist ● 7 Good · ● 8 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−4.5%Average
Free-cash-flow yield4.2%Average
Risk models
Altman Z score4.5×Average
Piotroski F-Score9 of 9Good
Growth
EPS growth (3y)95.0%Good
Free-cash-flow growth (3y)35.0%Good
Revenue growth (3y)9.4%Good
Growth consistency100%Good
Balance sheet
Current ratio1.9×Good
Net debt / EBITDA0.9×Good
Interest cover18.8×Average
Valuation
Fair value vs price1.1×Average
EBIT / EV yield4.9%Average
Profitability
Return on invested capital9.8%Average
Operating margin18.9%Average
Gross profitability25.0%Bad
XStocksXray
STERIS plc (STE)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY22
FY23
FY24
FY25
FY26
LTM
Revenue
4,223
4,536
5,139
5,460
5,936
6,038
Gross profit
1,883
1,981
2,218
2,403
2,627
2,683
Operating income
478
791
836
867
1,102
1,142
Net income
244
107
378
615
782
805
Diluted EPS ($)
2.48
1.07
3.81
6.20
7.93
8.17
Free cash flow
397
395
613
778
972
926
Gross margin
44.6%
43.7%
43.2%
44.0%
44.2%
44.4%
Operating margin
11.3%
17.4%
16.3%
15.9%
18.6%
18.9%
Net margin
5.8%
2.4%
7.4%
11.3%
13.2%
13.3%
Balance sheet
FY22
FY23
FY24
FY25
FY26
LTM
Total assets
11,424
10,822
11,064
10,147
10,737
10,736
Cash
348
208
207
172
440
482
Total debt
3,088
3,079
3,206
2,044
1,932
1,894
Equity
6,532
6,077
6,302
6,603
7,184
7,207
Dividend per share ($)
1.69
1.84
2.03
2.23
2.46
2.52
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.