Steris (STE) FY2025 10-K Annual Report
Steris (STE) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on May 29, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Steris FY2025 10-K Analysis
Business Overview
- • Core business model: Infection prevention and procedural products and services for healthcare and other industries
- • No new products, services, or segments introduced or highlighted in this filing year
- • No indicated strategic shift or change in competitive positioning compared to prior year
- • Equity compensation plans include 1,823,883 securities outstanding with weighted-average exercise price $185.51, 2,647,200 securities available for future issuance
- • Information primarily incorporated by reference to Proxy Statement; no standalone business section presented in this 10-K
Management Discussion & Analysis
- • Revenue $5.46B, up 6.2% YoY; Healthcare $3.88B (+7.4%), AST $1.04B (+8.9%), Life Sciences $542M (-5.1%)
- • Operating margin Healthcare 25.0% vs 24.1%, AST 44.8% vs 46.1%, Life Sciences 42.3% vs 38.7%
- • Best segment Healthcare: operating income $971.5M (+11.5%), worst Life Sciences: revenue down 5.1%, operating income $229.4M (+3.7%)
- • Operating cash flow $1.15B (+18%), capex $370.1M, share repurchases $200M, dividends $219.9M
- • FY 2026 outlook includes continued capital investment in Healthcare and AST; risks include litigation, inflation, integration costs, regulatory changes, and economic downturns
Risk Factors
- • Illinois EO litigation settlement $48.15M expense recognized in FY 2025 indicating ongoing legal risk from state-level enforcement
- • Foreign revenues $1.34B from "Other locations" exposing to currency and geopolitical risks impacting international markets
- • Minimum raw material purchase commitments $64.3M as of March 31, 2025 creating supply chain cost exposure and inflexibility
- • Competitive pressure from advanced sterilization technologies impacting AST segment with revenue $1.04B supporting medical device manufacturers
- • Total debt reduced to $2.04B in FY 2025 from $3.21B in FY 2024, leverage and interest cost exposure remain significant risks
Steris FY2025 Key Financial MetricsXBRL
Revenue
$5.5B
▲ +6.2% YoY
Net Income
$615M
▲ +62.5% YoY
Gross Margin
44.0%
▲ +84bp YoY
Operating Margin
15.9%
▼ -40bp YoY
Net Margin
11.3%
▲ +390bp YoY
ROE
9.3%
▲ +331bp YoY
Total Assets
$10.1B
▼ -8.3% YoY
EPS (Diluted)
$6.20
▲ +62.7% YoY
Operating Cash Flow
$1.1B
▲ +18.0% YoY
Source: XBRL data from Steris FY2025 10-K filing on SEC EDGAR. All figures in USD.
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