STERIS plc (STE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+5.4%

$245.52

vs $232.88 price

Levered DCF

$359.17

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

5.23

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	27.89×	36.32×	57.71×	178.77×	96.71×	40.88×	29.1×	35.5×
P/B	3.02×	3.38×	3.46×	3.14×	3.61×	4.18×	3.48×	3.39×
P/S	3.66×	4.09×	4.25×	4.2×	5.58×	5.22×	3.92×	3.87×
EV / EBITDA	14.65×	17.94×	17.71×	16.2×	26.27×	23.01×	17.43×	18.35×
Gross margin	44.2%	44.0%	43.2%	43.7%	44.6%	43.2%	43.6%	42.2%
Operating margin	18.6%	15.9%	16.3%	17.4%	11.3%	17.6%	17.7%	14.8%
Net margin	13.2%	11.3%	7.4%	2.4%	5.8%	12.8%	13.5%	10.9%
Current ratio	2.09×	1.96×	3.08×	2.33×	2.04×	2.1×	2.43×	2.27×
Debt / equity	0.29×	0.33×	0.54×	0.53×	0.5×	0.46×	0.38×	0.37×
Interest coverage	18.15×	10.05×	5.79×	7.14×	5.34×	14.75×	13.33×	9.13×
Dividend yield	1.1%	1.0%	0.9%	1.0%	0.7%	0.8%	1.0%	1.0%
Payout ratio	30.8%	35.8%	53.0%	171.4%	66.9%	33.7%	30.2%	37.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.9%	9.3%	6.0%	1.8%	3.7%	10.2%	12.0%	9.6%
Return on invested capital	8.5%	7.2%	6.4%	6.4%	3.5%	7.0%	8.9%	7.4%
Return on assets	7.3%	6.1%	3.4%	1.0%	2.1%	6.0%	7.5%	6.0%
Free cash flow yield	4.5%	3.5%	2.8%	2.1%	1.7%	2.8%	3.2%	3.2%
Earnings yield	3.6%	2.8%	1.7%	0.6%	1.0%	2.4%	3.4%	2.8%
Enterprise value	$23.4B	$24.4B	$25B	$22.1B	$26.5B	$17.8B	$12.8B	$11.7B
Net debt / EBITDA	1.03×	1.49×	2.25×	2.23×	2.9×	2.04×	1.31×	1.5×
Cash conversion cycle (days)	100	106	124	118	124	104	95	87