---
title: Steris (STE) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/ste
ticker: STE
as_of: 2026-10-17
sector: Healthcare
industry: Medical - Specialties
---
# Steris (STE)

Steris (STE) closed at $222.66 on Oct 16, 2026, overvalued by 19% vs its model value of $187.62 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $222.66 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $187.62 |
| Price vs model | overvalued by 19% vs model |
| Range of that model | $122.33 – $402.68 |
| Market value | $21.7B |
| P/E (fiscal 2026) | 28.1 |
| Net margin (fiscal 2026) | 13.2% |
| Free cash flow (fiscal 2026) | $972.4M |
| Dividend yield (trailing twelve months) | 1.16% |
| Beta | 0.93 |
| Cost of capital (WACC) | 8.60% |
| Business classification | Mature & Stable (Low/slowing growth (~7% recent), Moderate margins (13% net margin), Pays dividends, Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.16% |
| Dividends per share, last 12 months | $2.58 |
| Dividends / free cash flow (fiscal 2026) | 24.9% |
| Raised | 20+ years in a row |
| Growth over 5 years | 9.6% a year |
| Latest payment | $0.69, ex-date Sep 4, 2026, paid Sep 25, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Sep 2, 2021 | $1.63 |
| To Sep 6, 2022 | $1.76 |
| To Sep 5, 2023 | $1.93 |
| To Sep 5, 2024 | $2.13 |
| To Sep 4, 2025 | $2.34 |
| Trailing twelve months (to Sep 4, 2026) | $2.58 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $187.62 | $122.33 | $402.68 |
| DCF · Perpetuity growth · 10y | cross check | $204.33 | $136.65 | $423.61 |
| DCF · EBITDA exit · 5y | cross check | $277.05 | $196.51 | $371.81 |
| DCF · EBITDA exit · 10y | cross check | $278.50 | $193.04 | $392.28 |
| P/E · peers | cross check | $517.83 | $262.71 | $574.44 |
| P/E · own history | cross check | $558.98 | $385.36 | $823.43 |
| PEG | sanity check | $228.87 | $228.87 | $228.87 |
| EV/EBITDA · peers | cross check | $237.27 | $168.89 | $271.95 |
| EV/Revenue · peers | cross check | $127.99 | $102.58 | $243.77 |
| Earnings power value | cross check | $58.81 | $47.82 | $74.43 |
| Dividend discount | cross check | $55.50 | $38.08 | $91.31 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($956,795.2); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 1, 2026 | Burton Karen L | Sr. Vice Pres., CFO | Tax withholding | 228 | $0 |
| Aug 12, 2026 | Sohi Mohsen | Director | Option/RSU exercise | 4,058 | $349,921.3 |
| Aug 12, 2026 | Sohi Mohsen | Director | Open-market sell | 4,058 | $956,795.2 |
| Aug 10, 2026 | Sohi Mohsen | Director | Grant / award | 1,099 | $0 |
| Aug 10, 2026 | Sohi Mohsen | Director | Grant / award | 1,229 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 13, 2026 | 8-K | 1.01 Entry into a Material Agreement | https://www.sec.gov/Archives/edgar/data/1757898/000119312526420487/d165776d8k.htm |
| Aug 7, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1757898/000162828026054830/ste-20260630.htm |
| Aug 6, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/1757898/000119312526338137/d141533d8k.htm |
| Aug 6, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/1757898/000119312526338102/d144392d8ka.htm |
| Aug 5, 2026 | 8-K | 2.02 Results of Operations (Earnings); 2.05 Costs of Exit or Disposal; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1757898/000162828026053412/ste-20260805.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Bridgewater | 2026-06-30 | 9,809 | $2.1M |
| First Eagle | 2026-06-30 | 95 | $20,005 |

2 tracked managers in all.

## About

STERIS plc provides infection prevention products and services in the United States, Ireland, and internationally. The company operates through three segments: Healthcare, Applied Sterilization Technologies, and Life Sciences. It offers a range of products including cleaning chemistries, sterility assurance products, automated endoscope reprocessing systems, surgical tables, lights, and connectivity solutions. It also provides services such as equipment maintenance, instrument repair, and contract sterilization for medical device and pharmaceutical manufacturers.

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Source: https://sweetvaluelab.com/stocks/ste (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.