中文版正在生成中，先为你展示英文版分析。
AI核心结论
STERIS plc delivered strong fiscal year 2026 results with revenue growing 8.7% to $5.94B and net income surging 27.3% to $782.3M, driven by operating leverage that expanded operating margin by 270 basis points to 18.6%.
营业收入
$5.94B
同比 ++8.73%
每股收益（基本）
$7.97
同比 ++27.72%
毛利率
44.2%
同比 ++0.24%
营业利润
$1.1B
同比 ++27.14%
提交于 · 解读更新于 · 来源: SEC EDGAR 10-K 原文
Steris (STE) FY2026 营收 $5.94B，同比增长 8.7%。 净利润 $782.3M，同比增长 27.3%，稀释每股收益 $7.93。 毛利率 44.2%。
Total revenue increased 8.7% year-over-year from $5.46B to $5.94B, reflecting broad-based demand for STERIS's sterilization and infection prevention products and services. This growth outpaced cost of revenue growth of 8.3%, contributing to gross profit expansion of 9.3% to $2.63B.
来源: Source: 10-K Income Statement (XBRL Financial Data)
Operating income grew 27.1% to $1.10B, far outpacing revenue growth of 8.7%, as the company demonstrated meaningful operating leverage. Operating margin expanded approximately 270 basis points from 15.9% to 18.6%, indicating improved cost efficiency and scale benefits.
来源: Source: 10-K Income Statement (XBRL Financial Data)
SG&A expenses grew only 5.5% to $1.41B, well below the 8.7% revenue growth rate, demonstrating cost discipline. R&D spending increased modestly by 4.9% to $112.9M, reflecting continued investment in innovation while maintaining efficiency.
来源: Source: 10-K Income Statement (XBRL Financial Data)
Operating cash flow increased 16.8% to $1.34B, significantly outpacing net income growth, supported by $486.5M in depreciation and amortization. This robust cash generation underpins the company's ability to fund capital expenditures, debt repayment, and shareholder returns.
来源: Source: 10-K Cash Flow Statement (XBRL Financial Data)
Long-term debt declined 5.5% to $1.81B while stockholders' equity grew 8.8% to $7.18B, resulting in a conservative debt-to-equity ratio of 0.49. The current ratio improved to 2.09, reflecting a healthy liquidity position with current assets of $2.39B versus current liabilities of $1.15B.
来源: Source: 10-K Balance Sheet (XBRL Financial Data)
STERIS has historically grown through acquisitions, and the company's large goodwill and intangible asset base embedded in its $10.74B total asset base reflects this strategy. Failure to successfully integrate acquired businesses or realize expected synergies could impair earnings and asset values. Any goodwill impairment charges could materially impact reported net income.
来源: Source: 10-K Balance Sheet (XBRL Financial Data)
A significant portion of STERIS's revenue is tied to healthcare facility spending on sterilization equipment and services. Reductions in hospital capital budgets, changes in healthcare reimbursement policies, or slowdowns in elective procedure volumes could negatively impact demand. This sensitivity makes revenue somewhat cyclical relative to healthcare sector conditions.
来源: Source: 10-K Income Statement (XBRL Financial Data)
STERIS operates in a heavily regulated environment, with products and services subject to FDA oversight, EPA regulations, and international regulatory bodies. Non-compliance, product recalls, or changes in sterilization standards (particularly around ethylene oxide) could disrupt operations and result in significant costs. Regulatory changes could require substantial capital investment to maintain compliance.
来源: Source: 10-K (XBRL Financial Data)
With global operations, STERIS is exposed to foreign currency fluctuations that can impact reported revenues and earnings when translating results back to U.S. dollars. Currency headwinds could partially offset organic growth, particularly in periods of U.S. dollar strength. This risk is ongoing given the company's international footprint.
来源: Source: 10-K Income Statement (XBRL Financial Data)
SG&A expenses of $1.41B represent approximately 23.7% of revenue, which is a substantial cost base that could limit further margin expansion if revenue growth moderates. While SG&A grew slower than revenue in FY2026, any acceleration in selling or administrative costs without commensurate revenue growth would compress margins. Sustained investment in sales infrastructure is necessary to maintain competitive positioning.
来源: Source: 10-K Income Statement (XBRL Financial Data)
FY2026 实际 EPS $2.83，分析师一致预期 $2.88，不及预期 -1.6%。
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营业收入 | $5.94B | $5.46B | +8.73% |
营业成本 | $3.31B | $3.06B | +8.26% |
毛利润 | $2.63B | $2.4B | +9.31% |
营业利润 | $1.1B | $866.6M | +27.14% |
净利润 | $782.3M | $614.6M | +27.29% |
每股收益（基本） | $7.97 | $6.24 | +27.72% |
每股收益（稀释） | $7.93 | $6.20 | +27.90% |
研发费用 | $112.9M | $107.6M | +4.93% |
销售及管理费用 | $1.41B | $1.33B | +5.50% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
总资产 | $10.74B | $10.15B | +5.82% |
流动资产 | $2.39B | $2B | +19.68% |
总负债 | $3.54B | $3.53B | +0.25% |
流动负债 | $1.15B | $1.02B | +12.01% |
股东权益 | $7.18B | $6.6B | +8.79% |
长期债务 | $1.81B | $1.92B | -5.52% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
经营活动现金流 | $1.34B | $1.15B | +16.84% |
投资活动现金流 | $-512.5M | $388.8M | -231.82% |
筹资活动现金流 | $-568.2M | $-1.57B | +63.86% |
股票回购 | $235.5M | $211.3M | +11.45% |
折旧及摊销 | $486.5M | $476.2M | +2.16% |
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
毛利率 | 44.2% | 44.0% | +0.24% |
营业利润率 | 18.6% | 15.9% | +2.69% |
净利率 | 13.2% | — | — |
净资产收益率 | 10.9% | — | — |
总资产收益率 | 7.3% | — | — |
流动比率 | $2.091 | — | — |
资产负债率 | $0.493 | — | — |
Health Care Equipment 行业其他公司
STERIS delivered strong FY2026 results with revenue growing 8.7% to $5.94B and net income increasing 27.3% to $782.3M. Diluted EPS rose 27.9% to $7.93, and operating cash flow grew 16.8% to $1.34B, reflecting broad-based business strength and improved profitability.
STERIS expanded its operating margin by approximately 270 basis points to 18.6% in FY2026, up from 15.9% in the prior year. This improvement was driven by SG&A expenses growing only 5.5% and R&D growing 4.9%, both well below the 8.7% revenue growth rate, demonstrating significant operating leverage.
STERIS appears financially healthy with a current ratio of 2.09, a conservative debt-to-equity ratio of 0.49, and long-term debt declining 5.5% to $1.81B. Stockholders' equity grew 8.8% to $7.18B and operating cash flow of $1.34B provides ample capacity for investment, debt service, and shareholder returns.
STERIS repurchased $235.5M of its own shares in FY2026, up 11.5% from $211.3M in the prior year. This buyback activity contributed to diluted EPS growth of 27.9% slightly outpacing net income growth of 27.3% by modestly reducing the share count.
Key risks for STERIS investors include regulatory compliance risk around sterilization operations (particularly ethylene oxide regulations), sensitivity to healthcare facility capital spending cycles, and integration risk from its acquisition-driven growth strategy. Currency fluctuations also pose a risk given the company's global operations, which could dampen reported results in periods of U.S. dollar strength.