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SterisSTE

Legal name
Steris plc
Sector
Other
Industry
Orthopedic, Prosthetic & Surgical Appliances & Supplies
Exchange
NYSE

Stock Price $STE

Latest filings

You are here#49 of 52 in Healthcare by market cap

Filing record · 2019–202610-K810-Q228-K64

STE filed 8 annual reports (10-K), 22 quarterly reports (10-Q) and 64 current reports (8-K) between 2019 and 2026.

  1. Material agreement8-K · Nov ’20Nov ’20
  2. FY2022 annual report10-K · May ’22May ’22
  3. Restructuring8-K · May ’24May ’24
  4. Leadership change8-K · Aug ’25Aug ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  10. $5.94B
YoY changeLargest recent move+35.9%in FY22Latest +8.7%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

View full history →
All STE Financial Metrics58 metrics

Income Statement15

Balance Sheet23

Cash Flow15

Per Share5

02—Overview

Steris Financial Overview 2022–2026

Updated Nov 4, 2026

Diluted EPS climbed from $1.07 in FY2023 to $7.93a in FY2026, more than a sevenfold jump. The starting point was artificially low, since it absorbed a $490.6 million Dental goodwill impairment. Still, the thesis is clear: STERIS shed Dental, cut leverage, and now turns steady growth into rising profit and cash.

Revenue grew from $4,585.1 million in FY2022 to $5,935.9 millionb in FY2026. The latest year added 8.7% growth, a 44.2% gross margin, and a 27.1% surge in operating income to $1,101.8 million. Free cash flow reached $982.9 million, up from $409.6 million in FY2023. The $787.5 million Dental sale helped cut the debt-to-capital ratio from 33.7% at FY2024 to 21.3% at FY2026, with total debt at $1,931.7 million. Shareholders got $2.46 per share in dividends and $225.0 million in buybacks.

The market has not paid up for that progress. STERIS closed FY2025 at $226.65c, or 36.6x earnings, for a $22.3 billion market cap. At the close of FY2026, the shares sat at $221.13, or 27.9x, for $21.6 billion. EPS rose 28% over that stretch while the price slipped about 2.4%. The multiple compressed, and earnings did the work.

Recent Developments (Q4 2026 and Q1 2027)

STERIS announced a $2.1 billiond cash acquisition of Xodus Medical on October 12, 2026, with up to $150 million in earnouts tied to 2028 targets. It plans to fund the deal mostly with debt, backed by up to $2.0 billion in bridge commitments. That is large against total debt of $1,893.7 million at June 30, 2026.

Q1 2027 revenue rose 7.3% to $1,492.7 millione, and gross margin widened to 45.8% from 45.1%. Diluted EPS reached $2.04 versus $1.79. Free cash flow fell to $279.6 million from $326.5 million. Management cut fiscal 2027 free cash flow guidance to about $800 million from $850 million, and raised capex guidance to about $450 million. Adjusted EPS guidance held at $11.10-$11.30. A restructuring will cost $55 million to $70 million. In Q4 2026, AST capital equipment revenue fell 62%.

Bull case: pricing and mix keep lifting margins, and $900.0 million of buyback capacity remains. Bear case: leverage rises, cash conversion softens, and the stock trades at 26.7x earnings as of the Q1 2027 filing date (August 6, 2026), not today.

What to watch: Xodus financing terms and closing by December 31, 2026; free cash flow recovery against the $800 million guide

03—Filings

Recent SEC Filings

  1. 8-KSteris 8-K Report, Material Agreement (Oct 13, 2026)STERIS plc (STE) disclosed on October 11, 2026 that its wholly owned subsidiary, STERIS Corporation ("Purchaser"), entered into a Purchase and Sale Agreement to acquire all equity interests of Xodus Medical, Inc., a specialty surgical products business based in Pennsylvania, and certain related affiliates, from the Kaforey family sellers. The purchase price is $2.1 billion in cash at closing, subject to customary adjustments, plus up to $150 million of additional earnout consideration tied to specified post-closing performance targets in calendar 2028. The Acquisition is expected to be financed primarily with debt and is anticipated to close by December 31, 2026, subject to customary closing conditions and regulatory approvals. In connection with the deal, STERIS and Purchaser entered into a bridge financing commitment with JPMorgan Chase Bank, N.A. and Goldman Sachs Bank USA for up to $2.0 billion in aggregate senior unsecured bridge facilities. The commitment may be reduced dollar-for-dollar by net proceeds from permanent financing or asset sales before or after closing. Either party may terminate the Purchase Agreement if the Acquisition has not occurred by July 12, 2027, extendable in certain circumstances to January 11, 2028. The filing identifies regulatory approval risk and the ability to realize expected cost savings, tax benefits and synergies as key risks, alongside the increased indebtedness that the debt-financed deal will add.
  2. 8-KSteris 8-K Report, Shareholder Vote Results (Aug 6, 2026)At STERIS plc's 2026 Annual General Meeting of Shareholders, held July 31, 2026, shareholders elected nine directors to one-year terms, with the Board size reduced to nine members effective upon completion of the meeting. Holders of 89,909,204 Ordinary Shares, or 92.25% of the 97,457,680 shares outstanding and entitled to vote on the record date, were present in person or by proxy, constituting a quorum. Shareholders approved all seven proposals. These covered the director elections, ratification of Ernst & Young LLP as independent registered public accounting firm for the year ending March 31, 2027, and Ernst & Young Chartered Accountants as Irish statutory auditor. They also covered authorizing the Board or Audit Committee to set the statutory auditor's remuneration, a non-binding advisory vote on named executive officer compensation, renewal of the Board's authority to issue authorized but unissued shares under Irish law, and renewal of the Board's authority to opt out of statutory pre-emption rights for cash share issuances. The say-on-pay proposal received 77,639,271 votes for and 8,493,021 against, with 163,736 abstentions and 3,613,176 broker non-votes. Several directors drew noticeably more opposition than others: Cynthia L. Feldmann received 11,102,333 votes against, while Christopher S. Holland received 7,117,534 and Dr. Mohsen M. Sohi received 7,215,557.
  3. 8-KSteris 8-K/A Report, Executive Changes (Aug 6, 2026)STERIS plc (STE) filed this Current Report on Form 8-K/A on August 6, 2026 to amend its earlier Form 8-K filed May 7, 2026, which reported under Item 5.02 that the Board of Directors increased its size from nine to ten members on May 5, 2026 and elected Pierre Boulud as a Director effective that date. This amendment supplements that disclosure with Mr. Boulud's initial Board committee assignments and makes no other changes to the original filing. According to the filing, on July 31, 2026, Mr. Boulud was appointed to serve on the Audit Committee and the Compliance and Technology Committee of the Board. The filing does not disclose compensation arrangements, other financial results, or operational developments. For investors, this is a governance update: the Board has expanded to ten members, and a new director has been placed on the Audit Committee, which oversees financial reporting and controls, and on the Compliance and Technology Committee.
  4. 8-KSteris 8-K Report, Financial Results (Aug 5, 2026)STERIS plc (NYSE: STE) reported fiscal 2027 first quarter results for the quarter ended June 30, 2026. Total revenue increased 7% to $1.5 billion ($1,492.7 million) from $1,391.1 million, with constant currency organic revenue growth of 6%. As-reported net income attributable to shareholders was $200.1 million, or $2.04 per diluted share, versus $177.4 million, or $1.79 per diluted share, a year earlier. Adjusted net income was $253.4 million, or $2.59 per diluted share, compared with $231.2 million, or $2.34 per diluted share. Healthcare revenue grew 8% to $1.05 billion, AST revenue rose 6% to $297.6 million, and Life Sciences revenue rose 9% to $146.7 million. Net cash provided by operations fell to $367.1 million from $420.0 million, and free cash flow declined to $279.6 million from $326.5 million, which the company attributed primarily to a significantly lower working capital contribution. The company also announced a targeted consolidation of its formulated chemistries manufacturing and distribution into a new Center of Excellence in North Carolina, with anticipated closure of facilities in St. Louis, Missouri, and Plymouth, Minnesota. STERIS expects total pre-tax restructuring charges of approximately $55 million to $70 million, consisting of roughly $40 million to $50 million in cash expenditures and $15 million to $20 million in non-cash charges, mainly accelerated depreciation, with completion anticipated during fiscal 2030. These charges will be excluded from adjusted earnings. Management reiterated its fiscal 2027 revenue and earnings guidance, including as-reported revenue growth of 7-8%, constant currency organic revenue growth of 6-7%, and adjusted EPS of $11.10 to $11.30. Capital expenditure guidance rose to approximately $450 million from $375 million, and free cash flow guidance was lowered to approximately $800 million from $850 million.
  5. 8-KSteris 8-K Report, Financial Results (May 11, 2026)STERIS plc reported fiscal 2026 fourth-quarter and full-year results for the periods ended March 31, 2026, furnished under Item 2.02 of this Form 8-K as Exhibit 99.1. Full-year revenue from continuing operations rose 9% to $5.9 billion, and constant currency organic revenue growth was 7%. Fourth-quarter revenue increased 7% to $1.6 billion. As-reported diluted EPS from continuing operations was $7.93 for the year, up from $6.16, and adjusted diluted EPS was $10.17, up from $9.22. Management described fiscal 2026 as "another record year," citing a diversified customer base and growth in procedure volumes. Cash generation was strong. Net cash provided by operations was $1.34 billion for fiscal 2026, and free cash flow was $982.9 million, compared with $787.2 million in the prior year. Cash and cash equivalents rose to $439.6 million at March 31, 2026, and long-term indebtedness declined to $1.81 billion from $1.92 billion. The Board approved a new $1 billion share repurchase program to replace the prior authorization. For fiscal 2027, STERIS guided to as-reported revenue growth of 7-8% and constant currency organic revenue growth of 6-7%, with adjusted EPS of $11.10 to $11.30, an increase of 9-11%. Capital expenditures are expected to be about $375 million, including roughly $60 million over two years for a new sterility assurance plant in Mentor, Ohio, and free cash flow is projected at about $850 million.
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04—See also

Related Companies

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