AllAnalyst Report
logoMorningstarFebruary 26, 2021

Stericycle, Inc.: Divestitures and Operating Improvement Initiatives Are Driving Stronger Results for Stericycle

Symbols
SRCL
Sector(s)
Industrials
Rating
Current Price
$68.74
Fair Value
Economic Moat
Stewardship
Summary

Stericycle is the largest medical waste management service provider in North America, eclipsing all other competitors in size and scope of its operations. While Stericycle has one publicly traded competitor about 1/60 its size, Sharps Compliance, the industry is dominated by privately owned local companies. Through over 500 acquisitions, Stericycle has been a driving force in the consolidation of the medical waste management industry. Its customers range from physician offices to large hospitals, which cover over 1 million locations. In addition to handling regulated medical waste, Stericycle offers document destruction and call center services. In 2020, Stericycle generated $2.7 billion in revenue of which approximately 80% was generated in the U.S.

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Analyst Profile

Brian Bernard

Sector Director
Brian Colello, CPA, is director of technology, media, and telecom equity research for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. In addition to leading Morningstar’s technology, media, and telecom sector team, he covers semiconductor and hardware companies. Colello was a senior equity analyst before assuming his current role in 2015.Before joining Morningstar in 2008, he worked in public accounting for KPMG and served as a manager in corporate finance for BMG Music, a subsidiary of Bertelsmann AG.Colello holds a bachelor’s degree in accounting from Bucknell University and a master’s degree in business administration from Wake Forest. He is also a Certified Public Accountant.