Smith & Nephew plc ADR Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $4.8B-18.0% YoYTTM through 31 Dec 2025
Net Income $625M+51.7% YoYTTM through 31 Dec 2025
Free Cash Flow $840MTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Gross Margin | 68.0% |
| EBITDA Margin | 25.6% |
| Operating Margin | 12.9% |
| Net Margin | 13.1% |
Returns
11.8%ROE
6.0%ROA
8.3%ROIC
Balance Sheet Health
Debt / Equity0.63x
Current Ratio2.57x
Net Debt$2.8B
Cash & Equivalents$557M
Quality Metrics
Piotroski F-Score5 / 9
FCF Margin17.6%
Rule of 4053.7
Multi-Year Trend
RevenueFY2017: $4.8B
Diluted EPSFY2025: $0.72
Dividend
$0.48Per share, FY20262.33%Yield-8.5%5-yr growth
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Orthopaedics | $2.4B | +5.7% | View detailsExpected to benefit from the Ortho360 operating model and continued commercial execution to drive towards a 20% margin by 2030. |
| Sports Medicine & ENT | $1.9B | +6.0% | View detailsSupported by the acquisition of Integrity Orthopaedics and strong procedure volumes outside of China. |
| Advanced Wound Management | $1.8B | +6.7% | View detailsExpected to face headwinds from US skin substitute reimbursement changes in 2026, offset by operational efficiencies. |
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