Short answer
Steris (STE) filed its fiscal 2025 10-K annual report with the SEC on May 29, 2025. It reported revenue of $5.5B (+6.2% year over year) and net income of $615M.
- Top risk flagged: Illinois EO litigation settlement $48.15M expense recognized in FY 2025 indicating ongoing legal risk from state-level enforcement
FY2025 key financial metrics · XBRL
- Revenue
- $5.5B
- +6.2% YoY
- Net income
- $615M
- +62.5% YoY
- Operating margin
- 15.9%
- −0.4 pp YoY
- Gross margin
- 44.0%
- +0.8 pp YoY
- EPS (diluted)
- $6.20
- +62.7% YoY
- ROE
- 9.3%
- +3.3 pp YoY
- Operating cash flow
- $1.1B
- +18.0% YoY
Source: XBRL data from the Steris (STE) FY2025 10-K on SEC EDGAR. USD.
Steris FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
Generated from the filing text; verify against the original. How to read a 10-K
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