Sotera Health Co
SHC · Services-Misc Health & Allied Services, NEC · 285.2M shares · +5%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $2M (gross $34M, SBC $32M)
Reference price $15.17 · est. market cap ~$4.3B — last insider sale, 2026-05-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B72Sotera Health — sterilization-services leader (Sterigenics/Nelson/Nordion).
Strengths
- Operating cash margin 100th pct, ROE 12.9% (78th), strong cash (90th); net income +76%
- Recurring, mission-critical sterilization demand
Risks
- High leverage (D/E 3.5, 95th)
- Ethylene-oxide litigation/regulatory exposure
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 3.51)
- Customer concentration~100% of revenue from one customer/distributor — Sterigenics has achieved high historical customer retention and renewal rates—Sterigenics has 100% renewal rates of its top ten customers for more than five consecutive years, and an average tenure of
- Insider sellingInsider selling — 6 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$1.4B, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
55.5%
Net margin
6.7%
Return on equity
12.9%
Return on assets
2.4%
Revenue growth (QoQ)
-7.7%
Net-income growth
75.6%
Debt / equity
3.5×
Current ratio
2.5×
Free cash flow
$149M
Tangible book value
-$785M
Cash & investments
$345M
Stock comp / revenue
2.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | SHADER ALTON | Grant | 376K | — |
| 2026-05-26 | SHADER ALTON | Grant | 204K | — |
| 2026-05-22 | Kyle Richard G | Grant | 15K | — |
| 2026-05-22 | Krause Kenneth D. | Grant | 15K | — |
| 2026-05-22 | CUNNINGHAM SEAN LAURENCE | Grant | 15K | — |
| 2026-05-22 | Flynn Karen | Grant | 15K | — |
| 2026-05-22 | Neary James | Grant | 15K | — |
| 2026-05-22 | PETRELLA VINCENT K | Grant | 15K | — |
| 2026-05-22 | Chen Ruoxi | Grant | 15K | — |
| 2026-05-22 | Klee Ann R. | Grant | 15K | — |
| 2026-05-22 | Simon, Christopher | Grant | 15K | — |
| 2026-05-22 | Wheadon David E. | Grant | 15K | — |
| 2026-05-13 | WARBURG PINCUS & CO. | Sell | 19.1M | $15.17 |
| 2026-05-13 | WARBURG PINCUS & CO. | Sell | 19.1M | $15.17 |
| 2026-05-13 | GTCR INVESTMENT XI LLC | Sell | 12.7M | $15.17 |
| 2026-03-31 | DIMITRIEF ALEXANDER | Tax withheld | 7.9K | $14.34 |
| 2026-03-06 | WARBURG PINCUS & CO. | Sell | 15.0M | $15.27 |
| 2026-03-06 | WARBURG PINCUS & CO. | Sell | 15.0M | $15.27 |
| 2026-03-06 | GTCR INVESTMENT XI LLC | Sell | 10.0M | $15.27 |
| 2026-03-02 | Lyons Jonathan M. | Tax withheld | 6.0K | $15.91 |
| 2026-03-02 | Petras Michael B. Jr. | Tax withheld | 31K | $15.91 |
| 2026-03-02 | Petras Michael B. Jr. | Tax withheld | 40K | $15.91 |
| 2026-03-02 | Petras Michael B. Jr. | Option exercise | 90K | — |
| 2026-03-02 | Petras Michael B. Jr. | Tax withheld | 40K | $15.91 |
| 2026-03-02 | Petras Michael B. Jr. | Tax withheld | 79K | $15.91 |
| 2026-03-02 | Petras Michael B. Jr. | Grant | 240K | — |
| 2026-03-02 | DIMITRIEF ALEXANDER | Tax withheld | 7.9K | $15.91 |
| 2026-03-02 | DIMITRIEF ALEXANDER | Option exercise | 17K | — |
| 2026-03-02 | DIMITRIEF ALEXANDER | Tax withheld | 24K | $15.91 |
| 2026-03-02 | Lyons Jonathan M. | Option exercise | 18K | — |
| 2026-03-02 | Lyons Jonathan M. | Tax withheld | 24K | $15.91 |
| 2026-03-02 | Lyons Jonathan M. | Tax withheld | 8.2K | $15.91 |
| 2026-03-02 | Lyons Jonathan M. | Grant | 59K | — |
| 2026-03-02 | Rutz Michael P | Tax withheld | 3.7K | $15.91 |
| 2026-03-02 | Rutz Michael P | Tax withheld | 4.5K | $15.91 |
| 2026-03-02 | Rutz Michael P | Option exercise | 15K | — |
| 2026-03-02 | Rutz Michael P | Tax withheld | 17K | $15.91 |
| 2026-03-02 | Rutz Michael P | Grant | 45K | — |
| 2025-12-08 | Petras Michael B. Jr. | Sell | 39K | $16.45 |
| 2025-12-08 | Petras Michael B. Jr. | Sell | 395K | $16.45 |
| 2025-12-08 | Petras Michael B. Jr. | Sell | 316K | $16.45 |
| 2025-12-03 | WARBURG PINCUS & CO. | Sell | 9.7M | $16.33 |
| 2025-12-03 | WARBURG PINCUS & CO. | Sell | 9.7M | $16.33 |
| 2025-12-03 | GTCR INVESTMENT XI LLC | Sell | 6.5M | $16.33 |
| 2025-11-10 | WARBURG PINCUS & CO. | Sell | 18.0M | $15.65 |
| 2025-11-10 | WARBURG PINCUS & CO. | Sell | 18.0M | $15.65 |
| 2025-11-10 | GTCR INVESTMENT XI LLC | Sell | 12.0M | $15.65 |
| 2025-09-05 | WARBURG PINCUS & CO. | Sell | 12.0M | $15.11 |
| 2025-09-05 | WARBURG PINCUS & CO. | Sell | 12.0M | $15.11 |
| 2025-09-05 | GTCR INVESTMENT XI LLC | Sell | 8.0M | $15.11 |
| 2025-08-22 | Rutz Michael P | Sell | 127K | $16.38 |
| 2025-08-05 | Lyons Jonathan M. | Tax withheld | 12K | $11.19 |
| 2025-05-22 | Neary James | Grant | 19K | — |
| 2025-05-22 | Flynn Karen | Grant | 19K | — |
| 2025-05-22 | Knauss Robert Brown | Grant | 19K | — |
| 2025-05-22 | Wheadon David E. | Grant | 19K | — |
| 2025-05-22 | PETRELLA VINCENT K | Grant | 19K | — |
| 2025-05-22 | MIHAS CONSTANTINE S | Grant | 19K | — |
| 2025-05-22 | Klee Ann R. | Grant | 19K | — |
| 2025-05-22 | CUNNINGHAM SEAN LAURENCE | Grant | 19K | — |
| 2025-05-22 | Chen Ruoxi | Grant | 19K | — |
| 2025-05-22 | Simon, Christopher | Grant | 19K | — |
| 2025-03-03 | Petras Michael B. Jr. | Grant | 299K | — |
| 2025-03-03 | Lyons Jonathan M. | Grant | 60K | — |
| 2025-03-03 | Lyons Jonathan M. | Grant | 37K | — |
| 2025-03-03 | Rutz Michael P | Grant | 49K | — |
| 2025-03-03 | DIMITRIEF ALEXANDER | Grant | 56K | — |
| 2025-03-02 | Petras Michael B. Jr. | Tax withheld | 28K | $12.47 |
| 2025-03-02 | Lyons Jonathan M. | Tax withheld | 6.5K | $12.47 |
| 2025-03-02 | DIMITRIEF ALEXANDER | Tax withheld | 8.2K | $12.47 |
| 2025-03-02 | Rutz Michael P | Tax withheld | 5.4K | $12.47 |
| 2025-03-02 | Petras Michael B. Jr. | Tax withheld | 32K | $12.47 |
| 2025-03-02 | Petras Michael B. Jr. | Tax withheld | 41K | $12.47 |
| 2025-03-02 | Rutz Michael P | Tax withheld | 3.7K | $12.47 |
| 2025-03-02 | Rutz Michael P | Tax withheld | 4.2K | $12.47 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-22 | Shareholder vote | filing ↗ |
| 2026-05-20 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-05-13 | 1.02OtherExhibits | filing ↗ |
| 2026-05-05 | ResultsExec/director changeExhibits | filing ↗ |
| 2026-03-16 | Exec/director change | filing ↗ |
| 2026-03-06 | OtherExhibits | filing ↗ |
| 2026-02-24 | ResultsExec/director changeExhibits | filing ↗ |
| 2026-02-05 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-22 | 2026-05-21 | 0001822479-26-000034 ↗ |
| 8-K | 2026-05-20 | 2026-05-20 | 0001193125-26-232585 ↗ |
| 8-K | 2026-05-13 | 2026-05-11 | 0001193125-26-221630 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001822479-26-000031 ↗ |
| 8-K | 2026-05-05 | 2026-04-30 | 0001822479-26-000028 ↗ |
| 8-K | 2026-03-16 | 2026-03-12 | 0001822479-26-000019 ↗ |
| 8-K | 2026-03-06 | 2026-03-04 | 0001193125-26-096983 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001822479-26-000015 ↗ |
| 8-K | 2026-02-24 | 2026-02-18 | 0001822479-26-000012 ↗ |
| 8-K | 2026-02-05 | 2026-02-04 | 0001822479-26-000007 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001822479-26-000004 ↗ |
| 8-K | 2025-11-10 | 2025-11-06 | 0001193125-25-274199 ↗ |