Smith & Nephew plc (SNN)

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally. The company operates in three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. It offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products. The company also provides sports medicine joint repair products comprise instruments, technologies, and implants to perform minimally invasive surgery, as well as treating soft tissue injuries and degenerative conditions of the shoulder, knee, hip, and small joints. In addition, it provides arthroscopic enabling technologies comprising fluid management equipment for surgical access, cameras, digital image capture, scopes, light sources, and monitors to assist with visualization inside the joints, radio frequency, electromechanical and mechanical tissue resection devices, and hand instruments for removing damaged tissue; and ear, nose, and throat solutions. Further, the company offers advanced wound care products for the treatment and prevention of acute and chronic wounds, leg, diabetic and pressure ulcers, burns, and post-operative wounds; advanced wound bioactives, such as biologics and other bioactive technologies for debridement and dermal repair/regeneration, and regenerative medicine products, including skin, bone graft, and articular cartilage substitutes; and advanced wound devices, such as traditional and single-use negative pressure wound therapy, and hydrosurgery systems. It serves the healthcare providers. Smith & Nephew plc was founded in 1856 and is headquartered in Watford, the United Kingdom.

Ticker
SNN
Exchange
NYSE
Sector
Healthcare
Industry
Medical Devices
Market cap
$13.67B
52-week range
$26.12 - $37.09

Valuation

Share price
$31.15 (close of Nov 6, 2026)
P/E (TTM)
21.60x
Price to book
2.58x
Price to free cash flow
16.05x
Enterprise value
$16.44B
Book value per share
$12.05

Price performance

PeriodChange
1 day-2.69%
5 days+4.88%
1 month+15.93%
3 months+4.92%
6 months+2.94%
Year to date-5.06%
1 year-4.01%
3 years+28.72%
5 years-16.15%
10 years+9.57%
All time+361.30%

Short interest

As of
Oct 15, 2026
Short % of float
0.97%
Shares short
4.04M
Days to cover
3.12
Change since prior report
-13.35%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
11.82%
Return on invested capital
7.43%
Return on assets
5.98%
Return on capital employed
8.96%
Gross margin
68.01%
Net margin
10.14%
EBITDA margin
12.88%
Revenue growth
6.09%
Net income growth
51.70%
Free cash flow growth
40.59%

Cash flow and balance sheet

Free cash flow yield (TTM)
6.23%
Current ratio
2.57x
Net debt to EBITDA
1.81x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$6.16B
Cost of revenue
$1.97B
Gross profit
$4.19B
EBITDA
$794.00M
Net income
$625.00M
Earnings per share
$1.44
Research and development
$296.00M
Shares outstanding
433.50M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$6.16B$4.19B$625.00M$1.44
2024-12-31$5.81B$4.05B$412.00M$0.94
2023-12-31$5.55B$3.82B$263.00M$0.60
2022-12-31$5.21B$3.67B$223.00M$0.51
2021-12-31$5.21B$3.67B$524.00M$1.20
2020-12-31$4.56B$3.16B$448.00M$1.03
2019-12-31$5.14B$3.80B$600.00M$1.37
2018-12-31$4.90B$3.61B$663.00M$1.52
2017-12-31$4.76B$3.52B$767.00M$1.76
2016-12-31$4.67B$3.40B$784.00M$1.76

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3168.01%10.14%11.82%7.43%
2024-12-3169.64%7.09%7.83%6.65%
2023-12-3168.82%4.74%5.04%4.79%
2022-12-3170.47%4.28%4.24%5.39%
2021-12-3170.40%10.05%9.41%8.56%
2020-12-3169.39%9.82%8.49%5.12%
2019-12-3173.96%11.68%11.67%12.59%
2018-12-3173.53%13.52%13.60%11.75%
2017-12-3173.81%16.10%16.52%13.49%
2016-12-3172.76%16.79%19.81%9.33%

Cash and debt by year

Period endCashDebt
2025-12-31$557.00M-
2024-12-31$619.00M-
2023-12-31$302.00M-
2022-12-31$350.00M-
2021-12-31$1.28B-
2020-12-31$1.75B-
2019-12-31$257.00M-
2018-12-31$333.00M$1.30B
2017-12-31$155.00M$1.42B
2016-12-31$38.00M$1.56B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$852.00M$43.00M
2024-12-31$606.00M$40.00M
2023-12-31$181.00M$39.00M
2022-12-31$110.00M$40.00M
2021-12-31$469.00M$41.00M
2020-12-31$492.00M$26.00M
2019-12-31$760.00M$32.00M
2018-12-31$584.00M$35.00M
2017-12-31$714.00M$31.00M
2016-12-31$457.00M$27.00M

Dividend history

Most recent payment
Oct 2, 2026
Paid in the last twelve months
$0.79
Payment dateDividend per share
2026-10-02$0.31
2026-03-27$0.48
2025-10-03$0.30
2025-03-28$0.46
2024-10-04$0.29
2024-04-01$0.46
2023-10-05$0.29
2023-03-30$0.46

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2023-08-03--
2023-04-01--
2023-02-28--
2022-09-30--
2022-07-02--
2022-04-02--
2022-02-24--
2021-09-30--

Filings and sources

Company website
smith-nephew.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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