Steris (STE) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$2.50

$2.44$2.58

vs $2.34+6.9%

7 analysts

Next Qtr

$2.70

$2.66$2.76

vs $2.47+9.2%

7 analysts

Current Yr

$11.16

$11.08$11.21

vs $10.17+9.8%

8 analysts

Next Yr

$12.11

$11.61$12.34

vs $11.16+8.5%

8 analysts

Revenue Estimates

Current Qtr

$1.50B

$1.48B$1.51B

vs $1.39B+7.6%

7 analysts

Next Qtr

$1.56B

$1.55B$1.57B

vs $1.46B+6.8%

7 analysts

Current Yr

$6.37B

$6.32B$6.39B

vs $5.94B+7.3%

8 analysts

Next Yr

$6.77B

$6.66B$6.81B

vs $6.37B+6.3%

8 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for STE on EDGAR.

STE filing events and research context
Filed	Item	Context
May 29, 2026	mda	STERIS reported fiscal 2026 revenues of $5,935.9 million, an 8.7% increase driven by organic volume growth, pricing, and favorable foreign currency movements. Operating income rose 27.1% to $1,101.8 million, benefiting from higher pricing and a reduction in restructuring and litigation costs. The company’s three reportable segments—Healthcare, AST, and Life Sciences—all experienced growth, with Life Sciences capital equipment revenues notably increasing 15.5%. Gross profit margin expanded to 44.2%, as pricing and productivity gains offset headwinds from inflation and tariffs. Following the fiscal 2025 divestiture of the Dental segment for $787.5 million, which was primarily used to pay down debt, the debt-to-total capital ratio improved to 21.3%. Free cash flow grew to $982.9 million. Key strategic events included the settlement of Illinois EO litigation for $48.2 million and the completion of a restructuring plan targeting the European surgical business. Capital allocation remains aggressive, highlighted by a new $1 billion share repurchase program authorized in May 2026 and increased quarterly dividends. Long-term growth is underpinned by an aging global population and rising demand for preventive screenings, such as endoscopies and colonoscopies.
May 29, 2026	risk_factors	STERIS operates in highly regulated markets for infection prevention, sterile processing, and surgical support, facing significant risks from FDA and international regulatory delays or product recalls. A critical operational risk is the use of ethylene oxide (EO) in its AST segment; evolving EPA emissions regulations and personal injury litigation—including a recent $48.2 million settlement in Illinois—could materially impact costs and demand. Financial stability is tied to the management of $1.9 billion in indebtedness and $4 billion in goodwill, which is susceptible to impairment. Growth depends on strategic acquisitions, though integration and pricing risks persist. Macroeconomic pressures include the 2026 USMCA joint evaluation and the One Big Beautiful Bill Act’s potential to reduce Medicaid reimbursements. Supply chain vulnerabilities center on the limited availability of cobalt-60 and EO. Additionally, the company faces complex tax uncertainties under GloBE (Pillar Two) rules and potential challenges to its Irish tax residency. Cybersecurity threats, exacerbated by generative AI, and the need to maintain a competitive edge in AI deployment further complicate the operational landscape. Failure to successfully implement Lean manufacturing and digital transformation initiatives may also hinder structural cost reductions and overall profitability.
May 29, 2025	business	STERIS operates through three primary segments: Healthcare, AST, and Life Sciences. The Healthcare segment provides infection prevention consumables, capital equipment, and instrument reprocessing for sterile processing departments and procedural centers. AST offers contract sterilization and laboratory testing for medical device and pharmaceutical manufacturers, while Life Sciences supports aseptic manufacturing. Fiscal 2025 revenues rose 6.2% to $5.46 billion, driven by strong growth in consumables and services, which offset a 6.0% decline in capital equipment revenues. Growth was primarily fueled by pricing and volume increases, including assets acquired from BD. The company recently divested its Dental segment and CECS business to optimize its portfolio. Key financial headwinds include a $48.2 million settlement for Illinois EO litigation and inflationary pressures. To improve efficiency, STERIS implemented a restructuring plan targeting its European Healthcare surgical business, expecting $25 million in annual operating income improvements by fiscal 2026. Liquidity remains strong with free cash flow of $787.2 million and a reduced debt-to-total capital ratio of 23.6%, supported by the use of divestiture proceeds to repay term loans and credit facilities. Research and development remains focused on sterile processing technologies and gastrointestinal endoscopy accessories.

Filed

Item

Context

May 29, 2026

mda

STERIS reported fiscal 2026 revenues of $5,935.9 million, an 8.7% increase driven by organic volume growth, pricing, and favorable foreign currency movements. Operating income rose 27.1% to $1,101.8 million, benefiting from higher pricing and a reduction in restructuring and litigation costs. The company’s three reportable segments—Healthcare, AST, and Life Sciences—all experienced growth, with Life Sciences capital equipment revenues notably increasing 15.5%. Gross profit margin expanded to 44.2%, as pricing and productivity gains offset headwinds from inflation and tariffs. Following the fiscal 2025 divestiture of the Dental segment for $787.5 million, which was primarily used to pay down debt, the debt-to-total capital ratio improved to 21.3%. Free cash flow grew to $982.9 million. Key strategic events included the settlement of Illinois EO litigation for $48.2 million and the completion of a restructuring plan targeting the European surgical business. Capital allocation remains aggressive, highlighted by a new $1 billion share repurchase program authorized in May 2026 and increased quarterly dividends. Long-term growth is underpinned by an aging global population and rising demand for preventive screenings, such as endoscopies and colonoscopies.

May 29, 2026

risk_factors

STERIS operates in highly regulated markets for infection prevention, sterile processing, and surgical support, facing significant risks from FDA and international regulatory delays or product recalls. A critical operational risk is the use of ethylene oxide (EO) in its AST segment; evolving EPA emissions regulations and personal injury litigation—including a recent $48.2 million settlement in Illinois—could materially impact costs and demand. Financial stability is tied to the management of $1.9 billion in indebtedness and $4 billion in goodwill, which is susceptible to impairment. Growth depends on strategic acquisitions, though integration and pricing risks persist. Macroeconomic pressures include the 2026 USMCA joint evaluation and the One Big Beautiful Bill Act’s potential to reduce Medicaid reimbursements. Supply chain vulnerabilities center on the limited availability of cobalt-60 and EO. Additionally, the company faces complex tax uncertainties under GloBE (Pillar Two) rules and potential challenges to its Irish tax residency. Cybersecurity threats, exacerbated by generative AI, and the need to maintain a competitive edge in AI deployment further complicate the operational landscape. Failure to successfully implement Lean manufacturing and digital transformation initiatives may also hinder structural cost reductions and overall profitability.

May 29, 2025

business

STERIS operates through three primary segments: Healthcare, AST, and Life Sciences. The Healthcare segment provides infection prevention consumables, capital equipment, and instrument reprocessing for sterile processing departments and procedural centers. AST offers contract sterilization and laboratory testing for medical device and pharmaceutical manufacturers, while Life Sciences supports aseptic manufacturing. Fiscal 2025 revenues rose 6.2% to $5.46 billion, driven by strong growth in consumables and services, which offset a 6.0% decline in capital equipment revenues. Growth was primarily fueled by pricing and volume increases, including assets acquired from BD. The company recently divested its Dental segment and CECS business to optimize its portfolio. Key financial headwinds include a $48.2 million settlement for Illinois EO litigation and inflationary pressures. To improve efficiency, STERIS implemented a restructuring plan targeting its European Healthcare surgical business, expecting $25 million in annual operating income improvements by fiscal 2026. Liquidity remains strong with free cash flow of $787.2 million and a reduced debt-to-total capital ratio of 23.6%, supported by the use of divestiture proceeds to repay term loans and credit facilities. Research and development remains focused on sterile processing technologies and gastrointestinal endoscopy accessories.

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STE filing events and research context

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