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ValueScreener company report

Sotera Health Company (SHC)

NASDAQ / Healthcare / Medical - Diagnostics & Research

Share price

18.07 USD Market dataClose of Oct 15, 2026

Market capitalisation

5.15B USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2025, filed Feb 24, 2026
Ratios computed
Oct 15, 2026
Filed years
7, FY2019 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

12.9% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

66.93x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

2.9% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2018 Revenue: 746.1M USDFY2018 Net income: -5.9M USDFY2019 Revenue: 778.3M USDFY2019 Net income: -20.9M USDFY2020 Revenue: 818.2M USDFY2020 Net income: -38.6M USDFY2021 Revenue: 931.5M USDFY2021 Net income: 116.9M USDFY2022 Revenue: 1.00B USDFY2022 Net income: -233.6M USDFY2023 Revenue: 1.05B USDFY2023 Net income: 51.4M USDFY2024 Revenue: 1.10B USDFY2024 Net income: 44.4M USDFY2025 Revenue: 1.16B USDFY2025 Net income: 77.9M USD
Revenue Net income8 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
0 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 66.93x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits above the highest.

Today, against the Healthcare sector (223 companies), 66.93x sits at the 86th percentile; the middle half of that group runs from 13.52x to 42.98x.

Is it good

Return on equity was 12.9% in FY2025, in the band labelled "Ordinary" (8.0% to 15.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Medical - Diagnostics & Research industry (46 companies), 12.9% sits at the 80th percentile; the middle half of that group runs from -40.4% to 11.0%.

Is it safe

Debt to equity was 3.75 in FY2025, in the band labelled "Heavily leveraged" (2.00 and above), on lines anchored on Graham's defensive-investor criteria, suggesting heavy reliance on borrowing.

Today, against the Healthcare sector (499 companies), 3.75 sits at the 95th percentile; the middle half of that group runs from 0.03 to 0.76.

Year by year against peers
Whether Sotera Health Company's return on equity stayed above the median of the Medical - Diagnostics & Research industry, year by year. (FY2023 to FY2025, 3 fiscal years of Sotera Health Company with a comparable figure)
The direction
Which way Sotera Health Company's gross margin has moved, and how steadily. (FY2018 to FY2025, 8 filed years of Sotera Health Company)
What could explain it
What in Sotera Health Company's filed statements could explain the movements. (5 readings drawn from the statement lines Sotera Health Company filed)
What to check next
What to check next on Sotera Health Company, and where in its filings. (3 questions for Sotera Health Company)
In one paragraph
One paragraph on Sotera Health Company's returns, cash, balance sheet and price. (10 of sixteen figures read for Sotera Health Company)

These are SHC’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research SHCPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Feb 24, 2026, accession 0001822479-26-000015.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Sotera Health Company: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Return on equity12.9% ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Return on capital employed, pre-tax
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Return on assets2.4% ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Gross margin55.5% ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Operating margin
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Net margin6.7% ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
SHC 6.7%
RDNT -0.9%CDNA -5.6%NEOG -0.9%QGEN 20.3%BLLN 2.4%
-5.6%20.3%
Net margin: SHC against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Sotera Health Company: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity3.75 ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Current ratio2.46 ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Quick ratio2.24 ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Interest coverage
Why n/a

No operating income line is filed for this year.

n/a ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Altman Z-score
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Net debt1.93B ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Total assets 3.26BTotal liabilities 2.66BShareholders' equity 606.0MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Sotera Health Company owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Feb 24, 2026, 0001822479-26-000015).

Sotera Health Company: balance sheet position
Total assets3.26B FiledFY2025 10-K, filed Feb 24, 2026
Total liabilities2.66B FiledFY2025 10-K, filed Feb 24, 2026
Shareholders' equity606.0M FiledFY2025 10-K, filed Feb 24, 2026
Cash344.6M FiledFY2025 10-K, filed Feb 24, 2026
Total debt2.27B FiledFY2025 10-K, filed Feb 24, 2026
Net debt1.93B
Current ratio2.46
Debt to equity3.75
  • Interest cover: FY2025: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Sotera Health Company: what the market charges, each with its source
FigureValue, source and document
Price to earnings66.93x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
P/E on trailing twelve months31.84x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book8.54x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Price to sales4.45x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Enterprise value to EBIT
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Diluted earnings per share0.27 USD FiledFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Graham number3.59 USD ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015

We publish no fair value or price target of our own. Value SHC on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Sotera Health Company today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Sotera Health Company: valuation
Share price18.07 USD
Market capitalisation5.15B USD
Enterprise value to EBITDAn/a
Graham number3.59 USD
Diluted earnings per share, FY20250.27 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Aug 12, 2021: low 13.84x, median 77.67x, high 554.50x, latest 31.84x. 1,047 trading days with a meaningful ratio, 250 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Sotera Health Company

  1. RadNet, Inc. (RDNT)Market cap 5.54B USD
  2. CareDx, Inc (CDNA)Market cap 3.45B USD
  3. Neogen Corporation (NEOG)Market cap 2.68B USD
  4. Qiagen N.V. (QGEN)Market cap 9.51B USD
  5. BillionToOne, Inc. (BLLN)Market cap 4.85B USD

Same industry (Medical - Diagnostics & Research) and size band (Mid, 2B to 10B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Sotera Health Company: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield2.9% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Free cash flow149.2M USD ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Free cash flow margin12.8% ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
FY2018 Free cash flow: 47.0M USDFY2018 Net income: -5.9M USDFY2019 Free cash flow: 91.8M USDFY2019 Net income: -20.9M USDFY2020 Free cash flow: 67.1M USDFY2020 Net income: -38.6M USDFY2021 Free cash flow: 179.4M USDFY2021 Net income: 116.9M USDFY2022 Free cash flow: 95.6M USDFY2022 Net income: -233.6M USDFY2023 Free cash flow: -362.7M USDFY2023 Net income: 51.4M USDFY2024 Free cash flow: 45.1M USDFY2024 Net income: 44.4M USDFY2025 Free cash flow: 149.2M USDFY2025 Net income: 77.9M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Sotera Health Company: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
66.93xFY2025Oct 15, 2026
8.54xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a The filed income statement reports no operating income.
2.9%FY2025Oct 15, 2026
n/aFY2025Feb 24, 2026
n/a No operating income line is filed for this year.
n/aFY2025Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
3.75FY2025Feb 24, 2026
2.46FY2025Feb 24, 2026
4.45xFY2025Oct 15, 2026
n/aFY2025Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
n/aFY2025Oct 15, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
-2.68FY2025Feb 24, 2026
6/9FY2025Feb 24, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 7 filed fiscal years on record, FY2019 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

8 fiscal years, FY2018 to FY2025. 7 read from the annual reports Sotera Health Company filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Sotera Health Company: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20251.16Bn/a77.9M0.27149.2Mn/a12.9%10-K, Feb 24, 20260001822479-26-000015
FY20241.10B297.6M44.4M0.1645.1M27.1%11.0%10-K, Feb 27, 20250001822479-25-000015
FY20231.05B276.7M51.4M0.18-362.7M26.4%11.6%10-K, Feb 27, 20240001822479-24-000011
FY20221.00B248.3M-233.6M-0.8395.6M24.7%-66.7%10-K, Feb 28, 20230001822479-23-000015
FY2021931.5M256.7M116.9M0.41179.4M27.6%19.9%10-K, Mar 1, 20220001822479-22-000014
FY2020818.2M206.0M-38.6M-0.1667.1M25.2%-8.5%10-K, Mar 1, 20220001822479-22-000014
FY2019778.3M183.6M-20.9M-0.0991.8M23.6%n/a10-K, Mar 1, 20220001822479-22-000014
FY2018746.1M80.8M-5.9M-0.0247.0M10.8%-13.2%Market data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2018 to FY2025: 6.6%
  • Earnings: Earnings was not positive in both 2018 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2018 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow, compound annual growth FY2018 to FY2025: 18.0%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Sotera Health Company: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.68 ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Piotroski F-score6/9 ComputedFY2025 10-K, filed Feb 24, 2026, 0001822479-26-000015
Named tests met0 of 30 Computed
Beta1.25 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 0 met, 26 not met, 4 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
None of the named tests.
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Earnings yield and ROIC (Joel Greenblatt); EV/EBITDA and coverage; ROIC at or above WACC; Cash-covered dividend. A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(13)
  • EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
  • Return on Invested Capital: No operating income line is filed for this year.
  • Altman Z-Score: We do not hold this figure for this company, so there is nothing to show.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: No operating income line is filed for this year.
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 13 figures could not be read on this company, among them EV/EBIT, Return on Invested Capital, Altman Z-Score. Each blank in the table above names the rest, with its reason. 4 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 7 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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