Positioning no disclosures inside 60 days, left as found
Options put/call open interest 12.12, read 2026-11-05
Ethical passes the values gate
Price254.12 USD
Fair value270.15
Ethical score88.4/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-10-28Read Markup222.66+14.1% to today ✓Accumulation gives way to Markup first Markup read since August
2026-10-14Read Accumulation214.40+18.5% to today ✓Markdown gives way to Accumulation
2026-09-13Read Markdown215.09+18.1% to today Markup gives way to Markdown after an 8% slide in 4 weeks
2026-08-13Read Markup232.71+9.2% to today ✓Distribution gives way to Markup after a 10% rise in 6 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Steris holds its Markup at $254.12. The statistical read favours the buyers, held for 53 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 53 days
Price at the screen
$254.12
Valuation
27.77 trailing · 18.42 forward price to earnings
Values screen
PASS· score 88.4
Beta
0.93
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
21.71%
Below 33%
Interest-bearing debt is just 21.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
11.98%
Below 49%
Money owed to the company is 12.0% of assets, under the 49% limit.
Pass
Revenue purity
0.15%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Steris clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 22%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when STE's ethical verdict changes
Today STE passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades at roughly a 6% discount to our $270.15 fair value, moderate competitive moat, 7.30% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 5.9% discount to the base estimate.
Where our models see it going: fair-value estimate $270.15, with a range of $208.80 to $339.12, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Steris Keeps Hospitals Running but Price Does Not
Every day hospitals trust Steris to sterilise the instruments surgeons need, yet the shares already price in more growth than the business is likely to deliver. At a forward multiple of 17.9 times for 7 percent revenue growth, 13 percent margins and an 11 percent return on equity the valuation leaves little room for the moderate moat that actually exists. We therefore pass despite the clean ethical screen.
The real risk sits in execution. Steady but unspectacular growth can quickly look expensive if hospital budgets tighten or competitors chip away at the installed base. A moderate moat offers some protection but not enough to justify paying up when earnings visibility remains only average.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
STE trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markup$231.35+3.9%Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 3.9% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-10-28Markup · changed$222.66+0.0%Entry 9
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-10-21Accumulation$222.66+3.9%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.9% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.6% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-10-02Markdown$211.00-1.9%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.9% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-09-13Markdown · changed$215.09-7.6%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.6% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-08-13Markup · changed$232.71+9.6%Entry 4
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 9.6% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-07-18Distribution$212.35+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 11%. The street (7 analysts) rates it buy, with a mean price target of $257.
2026-07-03Distribution$212.35+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$212.35Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
