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Stocks · Health care · Orthopedic, Prosthetic & Surgical Appliances & Supplies

SMITH & NEPHEW PLC

SNN Clue Score59
Fiscal year ends December CIK 0000845982
$27.24 +1.04% Close, 9 Oct 2026
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Price $27.24 −20.02% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue4.67Operating income0.80Net income0.78EPS, diluted0.88Fiscal year 2017Revenue4.77 +2.1%Operating income0.93Net income0.77 −2.2%EPS, diluted0.88 −0.1%Fiscal year 2018Revenue4.90 +2.9%Operating income0.86Net income0.66 −13.6%EPS, diluted75.70 +8,531.7%Fiscal year 2019Revenue5.14 +4.8%Operating income0.82Net income0.60 −9.5%EPS, diluted0.60 −99.2%Fiscal year 2020Revenue4.56 −11.2%Operating income0.30Net income0.45 −25.3%EPS, diluted0.51 −14.2%Fiscal year 2021Revenue5.21 +14.3%Operating income0.59Net income0.52 +17.0%EPS, diluted0.60 +16.6%Fiscal year 2022Revenue5.22 +0.1%Operating income0.45Net income0.22 −57.4%EPS, diluted0.26 −57.3%Fiscal year 2023Revenue5.55 +6.4%Operating income0.43Net income0.26 +17.9%EPS, diluted0.30 +18.0%Fiscal year 2024Revenue5.81 +4.7%Operating income0.66Net income0.41 +56.7%EPS, diluted0.47 +56.1%Fiscal year 2025Revenue6.16 +6.1%Operating income0.79Net income0.63 +51.7%EPS, diluted0.72 +52.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 4.67 4.77 4.90 5.14 4.56 5.21 5.22 5.55 5.81 6.16
Growth +2.1% +2.9% +4.8% −11.2% +14.3% +0.1% +6.4% +4.7% +6.1%
Operating income 0.80 0.93 0.86 0.82 0.30 0.59 0.45 0.43 0.66 0.79
Net income 0.78 0.77 0.66 0.60 0.45 0.52 0.22 0.26 0.41 0.63
Growth −2.2% −13.6% −9.5% −25.3% +17.0% −57.4% +17.9% +56.7% +51.7%
EPS, diluted 0.88 0.88 75.70 0.60 0.51 0.60 0.26 0.30 0.47 0.72
Growth −0.1% +8,531.7% −99.2% −14.2% +16.6% −57.3% +18.0% +56.1% +52.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin72.8%Operating margin17.2%Net margin16.8%Fiscal year 2017Gross margin73.8%Operating margin19.6%Net margin16.1%Fiscal year 2018Gross margin73.5%Operating margin17.6%Net margin13.5%Fiscal year 2019Gross margin74.0%Operating margin15.9%Net margin11.7%Fiscal year 2020Gross margin69.4%Operating margin6.5%Net margin9.8%Fiscal year 2021Gross margin70.4%Operating margin11.4%Net margin10.1%Fiscal year 2022Gross margin70.5%Operating margin8.6%Net margin4.3%Fiscal year 2023Gross margin68.8%Operating margin7.7%Net margin4.7%Fiscal year 2024Gross margin69.6%Operating margin11.3%Net margin7.1%Fiscal year 2025Gross margin68.0%Operating margin12.9%Net margin10.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 72.8% 73.8% 73.5% 74.0% 69.4% 70.4% 70.5% 68.8% 69.6% 68.0%
Operating margin 17.2% 19.6% 17.6% 15.9% 6.5% 11.4% 8.6% 7.7% 11.3% 12.9%
Net margin 16.8% 16.1% 13.5% 11.7% 9.8% 10.1% 4.3% 4.7% 7.1% 10.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow0.85Buybacks−0.37Dividends paid−0.28Fiscal year 2017Operating cash flow1.09Buybacks−0.05Dividends paid−0.27Fiscal year 2018Operating cash flow0.93Buybacks−0.05Dividends paid−0.32Fiscal year 2019Operating cash flow1.17Buybacks−0.06Dividends paid−0.32Fiscal year 2020Operating cash flow0.94Buybacks−0.02Dividends paid−0.33Fiscal year 2021Operating cash flow0.88Dividends paid−0.33Fiscal year 2022Operating cash flow0.47Buybacks−0.16Dividends paid−0.33Fiscal year 2023Operating cash flow0.61Dividends paid−0.33Fiscal year 2024Operating cash flow0.99Dividends paid−0.33Fiscal year 2025Operating cash flow1.29Buybacks−0.50Dividends paid−0.33
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.85 1.09 0.93 1.17 0.94 0.88 0.47 0.61 0.99 1.29
Buybacks −0.37 −0.05 −0.05 −0.06 −0.02 n/a −0.16 n/a n/a −0.50
Dividends paid −0.28 −0.27 −0.32 −0.32 −0.33 −0.33 −0.33 −0.33 −0.33 −0.33

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.04Total debt1.56Net cash (debt)−1.53Shareholders’ equity3.96Debt to equity0.40Fiscal year 2017Cash0.16Total debt1.42Net cash (debt)−1.27Shareholders’ equity4.64Debt to equity0.31Fiscal year 2018Cash0.33Total debt1.30Net cash (debt)−0.97Shareholders’ equity4.87Debt to equity0.27Fiscal year 2019Cash0.26Shareholders’ equity5.14Fiscal year 2020Cash1.75Shareholders’ equity5.28Fiscal year 2021Cash1.29Shareholders’ equity5.57Fiscal year 2022Cash0.35Shareholders’ equity5.26Fiscal year 2023Cash0.30Shareholders’ equity5.22Fiscal year 2024Cash0.62Shareholders’ equity5.27Fiscal year 2025Cash0.56Shareholders’ equity5.29
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.04 0.16 0.33 0.26 1.75 1.29 0.35 0.30 0.62 0.56
Total debt 1.56 1.42 1.30 n/a n/a n/a n/a n/a n/a n/a
Net cash (debt) −1.53 −1.27 −0.97 n/a n/a n/a n/a n/a n/a n/a
Shareholders’ equity 3.96 4.64 4.87 5.14 5.28 5.57 5.26 5.22 5.27 5.29
Debt to equity 0.40 0.31 0.27 n/a n/a n/a n/a n/a n/a n/a

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
4.67 4.77 4.90 5.14 4.56 5.21 5.22 5.55 5.81 6.16
Growth +2.1% +2.9% +4.8% −11.2% +14.3% +0.1% +6.4% +4.7% +6.1%
1.27 1.25 1.30 1.34 1.40 1.54 1.54 1.73 1.76 1.97
3.40 3.52 3.61 3.80 3.16 3.67 3.68 3.82 4.05 4.19
Growth +3.5% +2.5% +5.4% −16.7% +16.0% +0.2% +3.9% +5.9% +3.6%
0.23 0.22 0.25 0.29 0.31 0.36 0.35 0.34 0.29 0.30
2.37 2.36 2.50 2.69 2.56 2.72 2.88 3.06 3.10 3.10
0.80 0.93 0.86 0.82 0.30 0.59 0.45 0.43 0.66 0.79
Growth +16.6% −7.6% −5.6% −63.8% +101.0% −24.1% −5.6% +54.6% +20.9%
1.06 0.88 0.78 0.74 0.25 0.59 0.24 0.29 0.50 0.78
0.28 0.11 0.12 0.14 −0.20 0.06 0.01 0.03 0.09 0.15
0.78 0.77 0.66 0.60 0.45 0.52 0.22 0.26 0.41 0.63
Growth −2.2% −13.6% −9.5% −25.3% +17.0% −57.4% +17.9% +56.7% +51.7%
Per share
0.88 0.88 76.00 0.69 0.51 0.60 0.26 0.30 0.47 0.72
0.88 0.88 75.70 0.60 0.51 0.60 0.26 0.30 0.47 0.72
Growth −0.1% +8,531.7% −99.2% −14.2% +16.6% −57.3% +18.0% +56.1% +52.3%
890.0 874.0 873.0 874.0 875.0 877.0 872.0 871.0 873.0 867.0
893.0 875.0 876.0 877.0 877.0 878.0 873.0 873.0 876.0 873.0
Growth −2.0% +0.1% +0.1% +0.0% +0.1% −0.6% +0.0% +0.3% −0.3%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 6.2% a year over five years, and earnings per share grew 6.9% a year.
  • The share count barely moved in five years.
  • Operating margin is up 6.4 points on five years ago, at 12.9%.
  • Profitable in every one of the 10 years on file.