STERIS plc (STE) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of STERIS plc stock $273, price $248, upside +10.0%, quality 72 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $154.32 – $266.36 · fair‑value band $167.28 – $344.65 · the $247.91 price screens below the $272.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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STERIS plc provides infection prevention products and services in the United States, Ireland, and internationally. It operates through three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences.
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The company offers cleaning chemistries and sterility assurance products, automated endoscope reprocessing system and tracking products, endoscopy accessories, instruments, washers, and sterilizers and other pieces of capital equipment, as well as equipment used directly in the procedure rooms, including surgical tables, lights, equipment management services, and connectivity solutions; and various preventive maintenance programs, repair services, custom process improvement consulting, and outsourced instrument sterile processing, as well as instrument, devices, and endoscope repair and maintenance services.
It also provides process controls and monitoring systems, as well as integrated sterilization equipment, such as accelerators, product handling, and automation; and sterilization modalities, product development, materials testing, and process validation, as well as support services for sterilization equipment and control systems comprising installation, preventive maintenance, updates, repairs, and troubleshooting.
In addition, the company offers pharmaceutical detergents, cleanroom disinfectants and sterilants, pharmaceutical grade and research sterilizers and washers, sterility assurance and maintenance products, vaporized hydrogen peroxide room decontamination systems and sterilizers, and high purity water and pure steam generators; and preventive maintenance programs and repair services to support the operation of capital equipment.
It serves healthcare providers, medical device and pharmaceutical manufacturers, biopharmaceutical manufacturing facilities, and hospitals. The company was formerly known as New STERIS Limited and changed its name to STERIS plc in November 2015.
STERIS plc was founded in 1985 and is headquartered in Mentor, Ohio.
Stock analysis
STERIS plc (STE) currently trades at $247.91, while our model-based Fair Value estimate is $272.70, so the stock looks roughly fairly valued today (gap 9.1%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $183.87 per share, and 0 of the 26 models we run sit above the $247.91 price.
Bear case: the Dividend Discount group reads lowest at $39.63, and 26 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $167.28 (bear) to $344.65 (bull), the price of $247.91 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
STERIS plc reported revenue of $5.9B in FY2026 versus $4.2B in FY2022, a compound +8.9%/yr. Reported net income was $785M in FY2026, compounding +33.9%/yr from FY2022.
Key figures
Market cap $24.5B Large · P/E ratio 30.8 · P/S ratio 4.05 · EPS (TTM) $8.05 · Dividend yield 1.0% · Net margin 13.3% · Return on equity 11.4% · Return on assets (EBIT) 7.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −18% fair-value upside, at 10%, STE screens cheaper than that median.
Fair Value models
Bear$167.28Fair Value $272.70Bull$344.65
Price $247.91 · Upside +10.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then ($3.33 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 4 officers or directors sold shares worth $2.5M and none bought.
SaleMohsen SohiDirector4,058 shares at $235.78$956,795Aug 12, 2026
SaleJohn Adam ZangerleSr. VP, Gen Counsel, and Sec.2× since Nov 11, 2025: 16,419 shares, avg. $260.31$4.3MJun 15, 2026
SaleDaniel A CarestioPresident and CEO, Director4,428 shares at $213.82$946,799Jun 5, 202610b5-1 plan
SaleRichard C BreedenDirector1,481 shares at $209.51$310,284Jun 2, 2026
SaleCynthia L FeldmannDirector3,098 shares at $237.21$734,877Mar 5, 2026
SaleJulia MadsenSr. VP and GM, Life Sciences5,008 shares at $262.00$1.3MNov 21, 2025
SaleRenato TamaroV.P. & Corporate Treasurer5,036 shares at $257.55$1.3MNov 18, 2025
Plus 36 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.8%
Start year 2021 (pandemic). Over 10 years: +10.2% a year
Revenue growth 35 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+11.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.5%
Dividend (yield on the price)1.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11.4% vs 17.7%, slowing
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.18% → 19%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+5.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +10.5% a year for the price and +3.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (93 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Moderate advantages in capacity and innovation from the new chemistries hub form the main strength, while thin public signals and ongoing working-capital pressure remain the central weakness.
Main risk: Named rivals such as Getinge, Fortive’s ASP unit and local Chinese firms offering equipment plus service models could capture share in sterile processing and contract sterilization, pressuring prices and margins in healthcare and life sciences segments.
Bull case: The company could leverage its broad installed base, service contracts and targeted acquisitions to deepen customer integration and offset competitive or regulatory pressures through efficiency gains and expanded consumables offerings.
Bear case: If competitive inroads or stricter EtO rules materialise, higher costs and lost contracts in key segments could keep free cash flow subdued and slow capacity expansion for longer than anticipated.
STERIS is committing hundreds of millions to a new formulated chemistries center that will consolidate operations and support growth in its healthcare and pharma supplies. The project promises better capacity and innovation but adds to capital demands at a time when cash conversion already faces pressure from working capital. Will the long-term efficiency gains from this hub more than offset the upfront outlays, or will they keep free cash flow subdued for longer?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Devices · 320 stocks
Beats the industry median on 8/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+10.0% · Top 25%
Profitability
Return on equity (12 months)11.4% · Top 25%
Return on assets7.3% · Top 25%
Net margin (12 months)13.3% · Above median
Operating margin (12 months)19.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)7.3% · Above median
Dividend yield (12 months)1.0% · Below median
Balance sheet
Debt / equity0.25× · Above median
Valuation Multiplesvs Medical Devices median · lower = cheaper
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Cite: Fair Value Calculator (2026). "STERIS plc Fair Value". https://www.fairvalue-calculator.com/stock/STE
Frequently asked questions
Is STERIS plc (STE) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $272.70 versus a price of $247.91, about +10% upside (fairly valued).
What is the fair value of STE?
Our model-based fair value for STERIS plc is $272.70 (as of Nov 5, 2026), built from audited fundamentals. The current price: $247.91.
What is the quality score of STE?
STERIS plc has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for STERIS plc (STE)?
Our model-based price target is the fair value of $272.70 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario $167.28, optimistic scenario $344.65. It is a calculation from audited fundamentals, not an analyst target.
What is the STERIS plc stock forecast for 2026?
Our models put fair value at $272.70, about +10% upside versus a price of $247.91 (fairly valued). Cautious scenario $167.28, optimistic scenario $344.65. The calculation is refreshed regularly with new filings.
What is the revenue of STERIS plc (STE)?
STERIS plc reported trailing-twelve-month revenue of about $6.0B (latest available figure, as of Nov 5, 2026).
Does STERIS plc pay a dividend?
STERIS plc currently shows a dividend yield of 1.02% relative to its recent price (as of Nov 5, 2026).
What growth is priced into STERIS plc (STE)?
For today's price to be fair in a discounted-cash-flow model, STERIS plc would have to grow free cash flow by +13.1 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.8 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of STE use?
Our models discount STERIS plc at 9.1 %: a base by market capitalisation (large), damped by beta 0.93, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For STERIS plc that is +13.1 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has STERIS plc (STE) delivered so far?
Over the past 5 years revenue at STERIS plc grew +13.8 % a year. The price currently implies +13.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of STERIS plc (STE) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into STERIS plc (+13.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of STERIS plc (STE)?
The free-cash-flow yield on the price is 3.97 %: that much free cash flow STERIS plc produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of STERIS plc (STE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For STERIS plc it is $272.70 per share (as of Nov 5, 2026), against a price of $247.91. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is STERIS plc stock overvalued or undervalued in 2026?
As of Nov 5, 2026, STE trades below its calculated fair value: price $247.91, fair value $272.70, a gap of about +10% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of STE?
No. The price is what the market pays today ($247.91); the fair value is what the company's own numbers justify ($272.70). For STERIS plc the two are $24.79 per share apart. That gap is exactly why we show both numbers side by side.
How much is STERIS plc worth?
The market values STERIS plc at about $24.5B (market capitalisation, as of Nov 5, 2026). Per share that is $247.91; our models calculate a fair value of $272.70 per share.
What do the bullish and bearish scenarios say about STE?
Our models span a range for STERIS plc: cautious scenario $167.28, base $272.70, optimistic $344.65 per share (as of Nov 5, 2026, price $247.91). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of STE?
STERIS plc trades at a price-to-earnings ratio of 30.8 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $272.70 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, 8 of the years ex one-offs: 33.0. Other multiples: PEG 1.7, P/B 3.4, P/S 4.1, EV/EBITDA 15.8.
What is the PEG ratio of STE?
The PEG ratio of STERIS plc is 1.74 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of STERIS plc (STE)?
Balance-sheet figures for STERIS plc (as of Nov 5, 2026): return on equity 11.4%, debt of 0.25 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is STE from its 52-week high?
STERIS plc trades at $247.91, about 7% below its 52-week high of $266.36 and 25% above the low of $198.79 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $272.70 is for.
Which stocks are comparable to STERIS plc?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is STERIS plc stock attractive at the current price?
The data as of Nov 5, 2026: price $247.91, calculated fair value $272.70 (+10%), Quality Score 72/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of STE calculated?
We run STERIS plc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $272.70, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. STERIS plc currently trades 9% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of STERIS plc (STE)?
The closing price on Nov 4, 2026 was $247.91. Our model-based fair value is $272.70, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with STERIS plc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($167.28 to $344.65) leaves room in how you read the outcome.
Where does the earnings growth of STERIS plc (STE) come from?
Earnings per share at STERIS plc grew +15.5 % a year from 2015 to 2026. Broken into its drivers: revenue per share +6.8 %, EBIT margin +6.1 %, tax rate +1.9 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of STERIS plc
How large is the market capitalisation of STERIS plc (STE)?
The market capitalisation of STERIS plc is $24.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of STERIS plc (STE)?
The price-to-sales ratio of STERIS plc is 4.05 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of STERIS plc (STE)?
Earnings per share at STERIS plc are $8.05 (price ÷ EPS = P/E 30.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of STERIS plc (STE)?
The dividend yield of STERIS plc is 1.0% (payout 31.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of STERIS plc (STE)?
The net margin of STERIS plc is 13.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of STERIS plc (STE)?
The return on equity (ROE) of STERIS plc is 11.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of STERIS plc (STE)?
On an EBIT basis the return on assets of STERIS plc is 7.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of STERIS plc (STE)?
The operating margin of STERIS plc is 19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at STERIS plc (STE)?
Revenue at STERIS plc is growing +7.3% versus a year earlier (3y avg +9.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at STERIS plc (STE)?
Earnings per share at STERIS plc are growing +14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does STERIS plc (STE) carry?
The net debt of STERIS plc is $1.6B (fiscal year 2026, ≈ 1.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026