Steris (STE) FY2021 results: revenue $3.1 billion, up 2.5% on the year
Steris plc (STE) reported revenue of $3.1 billion for fiscal 2021, the year ended 31 March 2021, up 2.5% on the year before. Net income was $397 million, down 2.5%, and diluted earnings per share $4.63. The figures are the company's own, from the 10-K it filed with the SEC on 28 May 2021.
Revenue
$3.1 billion
+2.5% on the year
FY2017FY2021
Operating margin
17.6%
17.7% a year earlier
FY2017FY2021
Net income
$397 million
-2.5% on the year
FY2017FY2021
Diluted EPS
$4.63
-2.7% on the year
FY2017FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
3,108
3,031
2,782
+2.5%
Cost of revenue
1,764
1,711
1,607
+3.1%
Gross profit
1,343
1,320
1,175
+1.8%
Gross margin
43.2%
43.5%
42.2%
Research and development
66.3
65.5
63.0
+1.2%
Selling, general and administrative
731
717
670
+2.0%
Operating income
548
537
411
+2.1%
Operating margin
17.6%
17.7%
14.8%
Interest expense
37.2
40.3
45.0
-7.7%
Pre-tax income
518
499
369
+3.8%
Income tax
121
90.9
64.4
+32.8%
Effective tax rate
23.3%
18.2%
17.4%
Net income
397
408
304
-2.5%
Net margin
12.8%
13.4%
10.9%
Diluted EPS
$4.63
$4.76
$3.56
-2.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
690
591
540
+16.8%
Capital expenditure
239
215
190
+11.5%
Free cash flow
450
376
350
+19.8%
Free cash flow margin
14.5%
12.4%
12.6%
Cash from investing
-1,154
-320
-213
Cash from financing
346
-163
-295
Depreciation and amortisation
219
197
226
+11.2%
Share-based compensation
26.0
23.8
24.0
+9.1%
Buybacks
14.6
51.2
81.5
-71.4%
Dividends paid
134
123
113
+8.8%
Dividend per share
$1.57
$1.45
$1.33
+8.3%
Diluted shares, weighted
86m
86m
85m
+0.3%
Shares outstanding at period end
85m
85m
85m
+0.5%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,881
3,405
3,178
+14.0%
Non-controlling interest
10.5
12.8
8.0
-18.4%
Debt
1,651
1,151
1,183
+43.5%
Operating lease liabilities
130
n/a
n/a
Other liabilities
903
872
704
+3.5%
Total liabilities and equity
6,574
5,441
5,073
+20.8%
Fixed assets
1,235
1,112
1,032
+11.1%
Goodwill
3,026
2,356
2,323
+28.4%
Intangible assets
898
565
605
+58.9%
Cash and equivalents
221
320
221
-31.0%
Receivables
609
586
565
+3.9%
Inventory
315
264
208
+19.6%
Other assets
270
238
120
+13.4%
Total assets
6,574
5,441
5,073
+20.8%
10-K for the year ended 31 March 2021, filed 28 May 2021: the filing.