STE
STERIS plc
Medical - Devices
Market Cap$21.00B
5Y Perf.+28.8%
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Stock Comparison
STE vs MMSI
Revenue, margins, valuation, and 5-year total return — side by side.
MMSI
Merit Medical Systems, Inc.
Medical - Instruments & Supplies
Market Cap$3.72B
5Y Perf.+38.5%
STE vs MMSI — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | STE | MMSI |
|---|---|---|
| Industry | Medical - Devices | Medical - Instruments & Supplies |
| Market Cap | $21.00B | $3.72B |
| Revenue (TTM) | $5.83B | $1.54B |
| Net Income (TTM) | $708M | $139M |
| Gross Margin | 44.1% | 48.7% |
| Operating Margin | 17.2% | 12.2% |
| Forward P/E | 21.0x | 15.5x |
| Total Debt | $2.20B | $898M |
| Cash & Equiv. | $172M | $449M |
STE vs MMSI — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
STE
MMSI
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| STERIS plc (STE) | 100 | 128.8 | +28.8% |
| Merit Medical Syste… (MMSI) | 100 | 138.5 | +38.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: STE vs MMSI
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: STE leads in 5 of 7 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. Merit Medical Systems, Inc. is the stronger pick specifically for growth and revenue expansion and valuation and capital efficiency. As sector peers, any of these can serve as alternatives in the same allocation.
STE
STERIS plc
The Income Pick
STE carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 14 yrs, beta 0.69, yield 1.0%
- 220.0% 10Y total return vs MMSI's 214.6%
- Lower volatility, beta 0.69, Low D/E 33.3%, current ratio 1.96x
Best for: income & stability and long-term compounding
MMSI
Merit Medical Systems, Inc.
The Growth Play
MMSI is the clearest fit if your priority is growth exposure.
- Rev growth 11.7%, EPS growth 4.9%, 3Y rev CAGR 9.6%
- 11.7% revenue growth vs STE's 6.2%
- Lower P/E (15.5x vs 21.0x)
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MMSI | 11.7% revenue growth vs STE's 6.2% |
| Value | MMSI | Lower P/E (15.5x vs 21.0x) |
| Quality / Margins | STE | 12.1% margin vs MMSI's 9.0% |
| Stability / Safety | STE | Beta 0.69 vs MMSI's 0.71, lower leverage |
| Dividends | STE | 1.0% yield; 14-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | STE | -3.9% vs MMSI's -33.8% |
| Efficiency (ROA) | STE | 6.7% ROA vs MMSI's 5.2%, ROIC 7.2% vs 7.2% |
STE vs MMSI — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
STE vs MMSI — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLSTELAGGINGMMSI
MMSIMerit Medical Systems…
1leads
STESTERIS plc
3leads
6 Total Categories
CATEGORYLEADERvs MMSIMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
MMSI6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
STE6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
STE6/6
Risk & VolatilityBeta, volatility, and downside exposure
STE2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
Evenly matched — STE and MMSI each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
STE is the larger business by revenue, generating $5.8B annually — 3.8x MMSI's $1.5B. Profitability is closely matched — net margins range from 12.1% (STE) to 9.0% (MMSI).
| Metric | STESTERIS plc | MMSIMerit Medical Sys… |
|---|---|---|
| RevenueTrailing 12 months | $5.8B | $1.5B |
| EBITDAEarnings before interest/tax | $1.4B | $290M |
| Net IncomeAfter-tax profit | $708M | $139M |
| Free Cash FlowCash after capex | $917M | $274M |
| Gross MarginGross profit ÷ Revenue | +44.1% | +48.7% |
| Operating MarginEBIT ÷ Revenue | +17.2% | +12.2% |
| Net MarginNet income ÷ Revenue | +12.1% | +9.0% |
| FCF MarginFCF ÷ Revenue | +15.7% | +17.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.2% | +7.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +12.0% | +38.8% |
Evenly matched — STE and MMSI each lead in 3 of 6 comparable metrics.
Valuation Metrics
MMSI leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 29.3x trailing earnings, MMSI trades at a 15% valuation discount to STE's 34.5x P/E. On an enterprise value basis, MMSI's 13.1x EV/EBITDA is more attractive than STE's 17.2x.
| Metric | STESTERIS plc | MMSIMerit Medical Sys… |
|---|---|---|
| Market CapShares × price | $21.0B | $3.7B |
| Enterprise ValueMkt cap + debt − cash | $23.0B | $4.2B |
| Trailing P/EPrice ÷ TTM EPS | 34.46x | 29.26x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.95x | 15.46x |
| PEG RatioP/E ÷ EPS growth rate | 6.35x | — |
| EV / EBITDAEnterprise value multiple | 17.15x | 13.06x |
| Price / SalesMarket cap ÷ Revenue | 3.85x | 2.45x |
| Price / BookPrice ÷ Book value/share | 3.20x | 2.38x |
| Price / FCFMarket cap ÷ FCF | 27.00x | 17.24x |
MMSI leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
STE leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
STE delivers a 9.9% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $9 for MMSI. STE carries lower financial leverage with a 0.33x debt-to-equity ratio, signaling a more conservative balance sheet compared to MMSI's 0.57x. On the Piotroski fundamental quality scale (0–9), STE scores 8/9 vs MMSI's 6/9, reflecting strong financial health.
| Metric | STESTERIS plc | MMSIMerit Medical Sys… |
|---|---|---|
| ROE (TTM)Return on equity | +9.9% | +8.9% |
| ROA (TTM)Return on assets | +6.7% | +5.2% |
| ROICReturn on invested capital | +7.2% | +7.2% |
| ROCEReturn on capital employed | +9.0% | +7.9% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 6 |
| Debt / EquityFinancial leverage | 0.33x | 0.57x |
| Net DebtTotal debt minus cash | $2.0B | $450M |
| Cash & Equiv.Liquid assets | $172M | $449M |
| Total DebtShort + long-term debt | $2.2B | $898M |
| Interest CoverageEBIT ÷ Interest expense | 15.94x | 10.74x |
STE leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
STE leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in STE five years ago would be worth $10,588 today (with dividends reinvested), compared to $9,644 for MMSI. Over the past 12 months, STE leads with a -3.9% total return vs MMSI's -33.8%. The 3-year compound annual growth rate (CAGR) favors STE at 5.3% vs MMSI's -9.8% — a key indicator of consistent wealth creation.
| Metric | STESTERIS plc | MMSIMerit Medical Sys… |
|---|---|---|
| YTD ReturnYear-to-date | -14.3% | -27.9% |
| 1-Year ReturnPast 12 months | -3.9% | -33.8% |
| 3-Year ReturnCumulative with dividends | +16.6% | -26.5% |
| 5-Year ReturnCumulative with dividends | +5.9% | -3.6% |
| 10-Year ReturnCumulative with dividends | +220.0% | +214.6% |
| CAGR (3Y)Annualised 3-year return | +5.3% | -9.8% |
STE leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
STE leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
STE is the less volatile stock with a 0.69 beta — it tends to amplify market swings less than MMSI's 0.71 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. STE currently trades 79.3% from its 52-week high vs MMSI's 62.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | STESTERIS plc | MMSIMerit Medical Sys… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.69x | 0.71x |
| 52-Week HighHighest price in past year | $269.44 | $100.19 |
| 52-Week LowLowest price in past year | $204.81 | $59.74 |
| % of 52W HighCurrent price vs 52-week peak | +79.3% | +62.2% |
| RSI (14)Momentum oscillator 0–100 | 41.2 | 34.9 |
| Avg Volume (50D)Average daily shares traded | 710K | 769K |
STE leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates STE as "Buy" and MMSI as "Buy". Consensus price targets imply 52.4% upside for MMSI (target: $95) vs 20.1% for STE (target: $257). STE is the only dividend payer here at 1.04% yield — a key consideration for income-focused portfolios.
| Metric | STESTERIS plc | MMSIMerit Medical Sys… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $256.67 | $95.00 |
| # AnalystsCovering analysts | 13 | 13 |
| Dividend YieldAnnual dividend ÷ price | +1.0% | — |
| Dividend StreakConsecutive years of raises | 14 | — |
| Dividend / ShareAnnual DPS | $2.22 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.0% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
STE leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). MMSI leads in 1 (Valuation Metrics). 1 tied.
Best OverallSTERIS plc (STE)Leads 3 of 6 categories
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STE vs MMSI: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is STE or MMSI a better buy right now?
For growth investors, Merit Medical Systems, Inc.
(MMSI) is the stronger pick with 11. 7% revenue growth year-over-year, versus 6. 2% for STERIS plc (STE). Merit Medical Systems, Inc. (MMSI) offers the better valuation at 29. 3x trailing P/E (15. 5x forward), making it the more compelling value choice. Analysts rate STERIS plc (STE) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — STE or MMSI?
On trailing P/E, Merit Medical Systems, Inc.
(MMSI) is the cheapest at 29. 3x versus STERIS plc at 34. 5x. On forward P/E, Merit Medical Systems, Inc. is actually cheaper at 15. 5x.
03Which is the better long-term investment — STE or MMSI?
Over the past 5 years, STERIS plc (STE) delivered a total return of +5.
9%, compared to -3. 6% for Merit Medical Systems, Inc. (MMSI). Over 10 years, the gap is even starker: STE returned +220. 0% versus MMSI's +214. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — STE or MMSI?
By beta (market sensitivity over 5 years), STERIS plc (STE) is the lower-risk stock at 0.
69β versus Merit Medical Systems, Inc. 's 0. 71β — meaning MMSI is approximately 3% more volatile than STE relative to the S&P 500. On balance sheet safety, STERIS plc (STE) carries a lower debt/equity ratio of 33% versus 57% for Merit Medical Systems, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — STE or MMSI?
By revenue growth (latest reported year), Merit Medical Systems, Inc.
(MMSI) is pulling ahead at 11. 7% versus 6. 2% for STERIS plc (STE). On earnings-per-share growth, the picture is similar: STERIS plc grew EPS 62. 7% year-over-year, compared to 4. 9% for Merit Medical Systems, Inc.. Over a 3-year CAGR, MMSI leads at 9. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — STE or MMSI?
STERIS plc (STE) is the more profitable company, earning 11.
3% net margin versus 8. 5% for Merit Medical Systems, Inc. — meaning it keeps 11. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: STE leads at 15. 9% versus 12. 2% for MMSI. At the gross margin level — before operating expenses — MMSI leads at 48. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is STE or MMSI more undervalued right now?
On forward earnings alone, Merit Medical Systems, Inc.
(MMSI) trades at 15. 5x forward P/E versus 21. 0x for STERIS plc — 5. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for MMSI: 52. 4% to $95. 00.
08Which pays a better dividend — STE or MMSI?
In this comparison, STE (1.
0% yield) pays a dividend. MMSI does not pay a meaningful dividend and should not be held primarily for income.
09Is STE or MMSI better for a retirement portfolio?
For long-horizon retirement investors, STERIS plc (STE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
69), 1. 0% yield, +220. 0% 10Y return). Both have compounded well over 10 years (STE: +220. 0%, MMSI: +214. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between STE and MMSI?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
STE pays a dividend while MMSI does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(STE: 9.2% · MMSI: 7.8%)Net Margin>
%
(STE: 12.1% · MMSI: 9.0%)P/E Ratio<
x
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