STERIS (STE) financial statements
STERIS reported revenue of $5.9B in fiscal 2026, up 9.5% a year over 9 years.
Net income was $782M and the operating margin 18.6%, against 8.7% in 2017.
Free cash flow was $972M, and the company returned $242M in dividends and $236M in net buybacks.
The diluted share count rose 15% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from STERIS's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.6B | $2.6B | $2.8B | $3.0B | $3.1B | $4.2B | $4.5B | $5.1B | $5.5B | $5.9B |
| Cost of revenue | $1.6B | $1.5B | $1.6B | $1.7B | $1.8B | $2.3B | $2.6B | $2.9B | $3.1B | $3.3B |
| Gross profit | $1.0B | $1.1B | $1.2B | $1.3B | $1.3B | $1.9B | $2.0B | $2.2B | $2.4B | $2.6B |
| Research and development | $59M | $61M | $63M | $66M | $66M | $87M | $98M | $104M | $108M | $113M |
| Selling, general and admin | $682M | $632M | $670M | $717M | $731M | $1.3B | $1.1B | $1.3B | $1.3B | $1.4B |
| Operating income | $226M | $400M | $411M | $537M | $548M | $478M | $791M | $836M | $867M | $1.1B |
| Interest expense | $45M | $51M | $45M | $40M | $37M | $89M | $108M | $144M | $86M | $61M |
| Pre-tax income | $185M | $355M | $369M | $499M | $518M | $367M | $680M | $703M | $796M | $1.0B |
| Income tax | $74M | $63M | $64M | $91M | $121M | $82M | $124M | $150M | $185M | $262M |
| Net income | $110M | $291M | $304M | $408M | $397M | $244M | $107M | $378M | $615M | $782M |
| EPS (diluted) | $1.28 | $3.39 | $3.55 | $4.76 | $4.63 | $2.48 | $1.07 | $3.81 | $6.20 | $7.93 |
| Diluted shares | 86M | 86M | 85M | 86M | 86M | 98M | 100M | 99M | 99M | 99M |
| Gross margin | 39.3% | 41.7% | 42.2% | 43.6% | 43.2% | 44.6% | 43.7% | 43.2% | 44.0% | 44.2% |
| Operating margin | 8.7% | 15.3% | 14.8% | 17.7% | 17.6% | 11.3% | 17.4% | 16.3% | 15.9% | 18.6% |
| Net margin | 4.2% | 11.1% | 10.9% | 13.5% | 12.8% | 5.8% | 2.4% | 7.4% | 11.3% | 13.2% |
Balance sheet
Fiscal years, from STERIS's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $283M | $202M | $221M | $320M | $221M | $348M | $208M | $207M | $172M | $440M |
| Receivables | — | $528M | $565M | $586M | $609M | $799M | $865M | $1.0B | $1.0B | $1.1B |
| Inventory | — | $206M | $208M | $264M | $315M | $575M | $604M | $675M | $581M | $632M |
| Total current assets | — | $990M | $1.1B | $1.2B | $1.2B | $1.9B | $2.0B | $2.9B | $2.0B | $2.4B |
| Property, plant and equipment | — | $1.0B | $1.0B | $1.1B | $1.2B | $1.6B | $1.6B | $1.8B | $2.0B | $2.2B |
| Goodwill | $2.2B | $2.4B | $2.3B | $2.4B | $3.0B | $3.9B | $3.9B | $4.1B | $4.1B | $4.2B |
| Total assets | — | $5.2B | $5.1B | $5.4B | $6.6B | $11.4B | $10.8B | $11.1B | $10.1B | $10.7B |
| Total current liabilities | — | $398M | $465M | $504M | $578M | $922M | $862M | $931M | $1.0B | $1.1B |
| Long-term debt | — | $1.3B | $1.2B | $1.2B | $1.7B | $2.9B | $3.0B | $3.1B | $1.9B | $1.8B |
| Total liabilities | — | $2.0B | $1.9B | $2.0B | $2.7B | $4.9B | $4.7B | $4.7B | $3.5B | $3.5B |
| Shareholders' equity | $2.8B | $3.2B | $3.2B | $3.4B | $3.9B | $6.5B | $6.1B | $6.3B | $6.6B | $7.2B |
| Net debt | -$283M | $1.1B | $963M | $831M | $1.4B | $2.6B | $2.8B | $2.9B | $1.7B | $1.4B |
Cash flow
Fiscal years, from STERIS's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $424M | $458M | $540M | $591M | $690M | $685M | $757M | $973M | $1.1B | $1.3B |
| Capital spending | $173M | $165M | $190M | $215M | $239M | $288M | $362M | $360M | $370M | $369M |
| Free cash flow | $251M | $292M | $350M | $376M | $450M | $397M | $395M | $613M | $778M | $972M |
| Stock-based compensation | $19M | $22M | $24M | $24M | $26M | $58M | $39M | $56M | $57M | $62M |
| Dividends paid | $93M | $103M | $113M | $123M | $134M | $163M | $183M | $201M | $220M | $242M |
| Share buybacks (net) | -$98M | -$65M | -$81M | -$51M | -$15M | -$56M | -$309M | -$12M | -$211M | -$236M |
| Net borrowing | -$172M | -$222M | -$85M | $0 | $515M | $650M | $0 | $0 | — | — |
| Free cash flow margin | 9.6% | 11.2% | 12.6% | 12.4% | 14.5% | 9.4% | 8.7% | 11.9% | 14.3% | 16.4% |
| Dividends per share | $1.08 | $1.20 | $1.32 | $1.44 | $1.56 | $1.66 | $1.83 | $2.02 | $2.22 | $2.45 |
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Open STE in InvestinglyQuestions
What was STERIS's revenue in 2026?
$5.9B in fiscal 2026, from its 10-K filing.
How much free cash flow does STERIS generate?
$972M in fiscal 2026 (operating cash flow minus capital spending).
From STERIS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.