Steris PLC

STE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$414.00	Plsccc	Xpptjfkl

Steris: Narrow Moat Confirmed on Leadership in Sterilization That Positions It for Future Growth

Jay Lee ,

May 31, 2024

We are refreshing our views on Steris and reaffirming our narrow moat rating with a $231 fair value estimate. The company's narrow moat comes from strong switching costs for its end users, namely healthcare providers, biopharma companies, and device manufacturers. We think that future product line expansions, as well as increased contract sterilization capacities, should support our mid- to high-single-digit revenue growth forecast over the next five years.

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