Latest Ratios: P/E Ratio 26.8x · EV/EBITDA 20.3x · ROE 11.4%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $20.8B | $21.8B | $22.5B | $22.3B | $19.2B | $23.8B | $16.4B | $12.0B | $10.9B | $8.0B | $6.0B |
| Enterprise Value | $22.3B | $23.3B | $24.5B | $25.5B | $22.2B | $26.7B | $17.9B | $13.0B | $11.9B | $9.1B | $7.2B |
| P/E Ratio → | 26.77 | 27.89 | 36.56 | 59.01 | 178.77 | 97.49 | 41.14 | 29.41 | 35.96 | 27.54 | 54.27 |
| P/S Ratio | 3.51 | 3.68 | 4.11 | 4.35 | 4.23 | 5.63 | 5.27 | 3.95 | 3.93 | 3.05 | 2.29 |
| P/B Ratio | 2.91 | 3.03 | 3.39 | 3.54 | 3.15 | 3.63 | 4.20 | 3.51 | 3.43 | 2.49 | 2.13 |
| P/FCF | 21.43 | 22.45 | 28.86 | 36.44 | 48.55 | 59.84 | 36.33 | 31.88 | 31.28 | 27.39 | 23.81 |
| P/OCF | 15.53 | 16.27 | 19.56 | 22.95 | 25.33 | 34.71 | 23.73 | 20.30 | 20.28 | 17.49 | 14.10 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.93 | 4.48 | 4.97 | 4.90 | 6.32 | 5.77 | 4.27 | 4.28 | 3.48 | 2.75 |
| EV / EBITDA | 20.27 | 21.16 | 18.23 | 18.21 | 16.53 | 25.90 | 23.38 | 17.64 | 18.69 | 15.77 | 17.32 |
| EV / EBIT | 20.27 | 21.16 | 27.75 | 30.12 | 28.08 | 58.52 | 32.35 | 24.03 | 28.75 | 22.48 | 31.31 |
| EV / FCF | — | 23.98 | 31.47 | 41.63 | 56.24 | 67.22 | 39.84 | 34.44 | 34.03 | 31.20 | 28.57 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.2% | 44.2% | 44.0% | 43.2% | 43.7% | 44.6% | 43.2% | 43.6% | 42.2% | 41.7% | 39.3% |
| Operating Margin | 18.6% | 18.6% | 15.9% | 16.3% | 17.4% | 11.3% | 17.6% | 17.7% | 14.8% | 15.3% | 8.7% |
| Net Profit Margin | 13.2% | 13.2% | 11.3% | 7.4% | 2.4% | 5.8% | 12.8% | 13.5% | 10.9% | 11.1% | 4.2% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.4% | 11.4% | 9.5% | 6.1% | 1.7% | 4.7% | 10.9% | 12.3% | 9.5% | 9.7% | 3.8% |
| ROA | 7.5% | 7.5% | 5.8% | 3.5% | 1.0% | 2.7% | 6.6% | 7.8% | 5.9% | 5.7% | 2.1% |
| ROIC | 9.5% | 9.5% | 7.2% | 6.7% | 6.4% | 4.8% | 8.3% | 9.4% | 7.3% | 7.2% | 4.1% |
| ROCE | 11.8% | 11.8% | 9.0% | 8.3% | 7.7% | 5.8% | 10.0% | 11.3% | 8.7% | 8.6% | 4.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.27 | 0.27 | 0.33 | 0.54 | 0.53 | 0.50 | 0.46 | 0.38 | 0.37 | 0.41 | 0.53 |
| Debt / EBITDA | 1.75 | 1.75 | 1.64 | 2.41 | 2.42 | 3.18 | 2.35 | 1.75 | 1.86 | 2.28 | 3.57 |
| Net Debt / Equity | — | 0.21 | 0.31 | 0.50 | 0.50 | 0.45 | 0.41 | 0.28 | 0.30 | 0.35 | 0.43 |
| Net Debt / EBITDA | 1.35 | 1.35 | 1.51 | 2.27 | 2.26 | 2.84 | 2.06 | 1.31 | 1.51 | 1.93 | 2.89 |
| Debt / FCF | — | 1.53 | 2.61 | 5.18 | 7.70 | 7.38 | 3.51 | 2.57 | 2.75 | 3.81 | 4.76 |
| Interest Coverage | 18.15 | 18.15 | 10.23 | 5.87 | 7.14 | 5.10 | 14.92 | 13.38 | 9.20 | 8.01 | 5.15 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.09 | 2.09 | 1.96 | 3.08 | 2.33 | 2.04 | 2.10 | 2.43 | 2.27 | 2.48 | 2.67 |
| Quick Ratio | 1.54 | 1.54 | 1.39 | 2.36 | 1.63 | 1.41 | 1.55 | 1.91 | 1.82 | 1.97 | 2.15 |
| Cash Ratio | 0.38 | 0.38 | 0.17 | 0.22 | 0.24 | 0.38 | 0.38 | 0.63 | 0.47 | 0.51 | 0.74 |
| Asset Turnover | — | 0.55 | 0.54 | 0.46 | 0.42 | 0.37 | 0.47 | 0.56 | 0.55 | 0.50 | 0.53 |
| Inventory Turnover | 5.24 | 5.24 | 5.26 | 4.33 | 4.23 | 4.07 | 5.60 | 6.49 | 7.72 | 7.42 | 8.02 |
| Days Sales Outstanding | — | 67.20 | 69.79 | 71.62 | 69.60 | 69.06 | 71.58 | 70.63 | 74.10 | 73.57 | 67.54 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.1% | 1.0% | 0.9% | 1.0% | 0.7% | 0.8% | 1.0% | 1.0% | 1.3% | 1.6% |
| Payout Ratio | 30.8% | 30.8% | 35.8% | 53.0% | 171.4% | 66.9% | 33.7% | 30.2% | 37.0% | 35.4% | 84.7% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 3.6% | 2.7% | 1.7% | 0.6% | 1.0% | 2.4% | 3.4% | 2.8% | 3.6% | 1.8% |
| FCF Yield | 4.7% | 4.5% | 3.5% | 2.7% | 2.1% | 1.7% | 2.8% | 3.1% | 3.2% | 3.7% | 4.2% |
| Buyback Yield | 1.1% | 1.1% | 0.9% | 0.1% | 1.6% | 0.2% | 0.1% | 0.4% | 0.7% | 0.8% | 1.6% |
| Total Shareholder Yield | 2.3% | 2.2% | 1.9% | 1.0% | 2.6% | 0.9% | 0.9% | 1.5% | 1.8% | 2.1% | 3.2% |
| Shares Outstanding | — | $99M | $99M | $99M | $100M | $98M | $86M | $86M | $85M | $86M | $86M |
Regulatory EO compliance costs
According to recent market data, STERIS trades at a forward P/E of 21.15, which, when compared to the broader medical device peer group, suggests that investors are assigning a quality premium to its recurring service-based revenue streams rather than viewing it as a cyclical equipment manufacturer.
The current valuation multiple appears to bake in expectations for sustained organic growth, yet the PEG ratio of 2.39 indicates that the market may be pricing in significant future expansion that could be challenged by capital expenditure requirements. Investors should monitor whether the company's shift toward higher-margin AST services justifies this premium relative to peers like Merit Medical or CONMED.
Based on reported financial figures, the company's ROIC has remained in a narrow range between 1.5% and 2.7% over the last ten quarters, suggesting that the integration of large-scale acquisitions has yet to yield the expected compounding returns on invested capital relative to the company's historical performance.
The persistent gap between ROIC and the company's cost of capital warrants further investigation into whether the recent portfolio shifts, such as the divestiture of the dental segment, will effectively improve capital efficiency. The current trend indicates that while the business is stable, it is not yet demonstrating the high-return compounding characteristics typically associated with its market-leading position.
As reported in quarterly filings, the cash conversion cycle has fluctuated significantly, reaching 93 days in 2026Q4, which indicates that the company's ability to manage inventory and customer collections remains a key variable in its overall operational efficiency compared to historical benchmarks.
The elevated days inventory outstanding, which peaked at 105 days in 2024Q3, suggests that the company may be holding higher levels of stock to mitigate supply chain risks or support its capital equipment backlog. This working capital intensity appears to be a structural feature of the business model, requiring consistent monitoring to ensure it does not drag on free cash flow generation.
Based on the most recent quarterly data, the current ratio of 2.09 provides a stable liquidity cushion, which appears adequate to cover short-term operational needs and potential capital requirements related to the company's ongoing regulatory compliance initiatives in the AST segment.
The company's liquidity position remains healthy, with a quick ratio of 1.54 suggesting that it is not overly reliant on inventory liquidation to meet its near-term obligations. This robust position provides the necessary flexibility to navigate potential regulatory shocks or inflationary pressures without needing to access external financing markets under unfavorable conditions.
The P/E ratio is frequently misapplied to STERIS because it fails to account for the significant non-cash amortization of intangible assets resulting from the company's aggressive acquisition strategy, which can artificially depress reported net income and distort the perceived valuation of the business.
Investors should instead focus on EV/EBITDA or P/FCF, as these metrics better capture the underlying cash-generating power of the recurring service and consumable segments. Relying solely on P/E may lead to an inaccurate assessment of the company's true earning power, as it obscures the value created by the proprietary service network and the long-term durability of its installed base.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying STE stock.
STERIS plc's current P/E ratio is 26.8x. The historical average is 38.1x. This places it at the 43th percentile of its historical range.
STERIS plc's current EV/EBITDA is 20.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.0x.
STERIS plc's return on equity (ROE) is 11.4%. The historical average is 10.1%.
Based on historical data, STERIS plc is trading at a P/E of 26.8x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
STERIS plc's current dividend yield is 1.15% with a payout ratio of 30.8%.
STERIS plc has 44.2% gross margin and 18.6% operating margin. Operating margin between 10-20% is typical for established companies.
STERIS plc's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.