Smith & Nephew Financials
This page shows Smith & Nephew (SNN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Smith & Nephew's revenue grew 6.1% year-over-year to $6.2B, a solid pace of expansion. This earns a growth score of 43/100.
Smith & Nephew carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Smith & Nephew's current ratio of 2.57 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.
Smith & Nephew's ROE of 11.8% shows moderate profitability relative to equity, earning a score of 37/100. This is up from 7.8% the prior year.
Smith & Nephew passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Smith & Nephew generates $2.06 in operating cash flow ($1.3B OCF vs $625.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Smith & Nephew generated $6.2B in revenue in fiscal year 2025. This represents an increase of 6.1% from the prior year.
Smith & Nephew reported $625.0M in net income in fiscal year 2025. This represents an increase of 51.7% from the prior year.
Cash & Balance Sheet
Smith & Nephew held $557.0M in cash against $149.0M in long-term debt as of fiscal year 2025.
Smith & Nephew had 878M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
Smith & Nephew's net profit margin was 10.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.0 percentage points from the prior year.
Smith & Nephew's ROE was 11.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.0 percentage points from the prior year.
Capital Allocation
Smith & Nephew spent $502.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
SNN Income Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SNN Balance Sheet
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.5B+1.0% | $10.4B+3.7% | $10.0B+0.2% | $10.0B-8.7% | $10.9B-0.8% | $11.0B+18.4% | $9.3B+15.4% | $8.1B |
| Current Assets | $4.1B-7.2% | $4.4B+9.7% | $4.0B+4.5% | $3.9B-12.8% | $4.4B-5.1% | $4.7B+44.9% | $3.2B+4.6% | $3.1B |
| Cash & Equivalents | $557.0M-10.0% | $619.0M+105.0% | $302.0M-13.7% | $350.0M-72.8% | $1.3B-26.6% | $1.8B+581.3% | $257.0M-22.8% | $333.0M |
| Inventory | $2.1B-11.3% | $2.4B-0.3% | $2.4B+8.6% | $2.2B+19.6% | $1.8B+9.0% | $1.7B+4.8% | $1.6B+15.7% | $1.4B |
| Accounts Receivable | $1.4B+2.3% | $1.4B+6.2% | $1.3B+2.8% | $1.3B+6.8% | $1.2B+6.1% | $1.1B-16.0% | $1.3B+0.8% | $1.3B |
| Goodwill | $3.1B+2.7% | $3.0B+1.1% | $3.0B-1.3% | $3.0B+1.4% | $3.0B+2.1% | $2.9B+5.0% | $2.8B+19.3% | $2.3B |
| Total Liabilities | $5.2B+1.6% | $5.1B+6.7% | $4.8B+1.3% | $4.7B-12.1% | $5.4B-6.6% | $5.7B+37.9% | $4.2B+30.5% | $3.2B |
| Current Liabilities | $1.6B+4.2% | $1.5B-32.6% | $2.3B+32.4% | $1.7B-19.5% | $2.1B+26.2% | $1.7B+7.9% | $1.6B+6.8% | $1.5B |
| Long-Term Debt | $149.0M+10.4% | $135.0M-6.3% | $144.0M-2.0% | $147.0M+4.3% | $141.0M-3.4% | $146.0M+17.7% | $124.0M-91.5% | $1.5B |
| Total Equity | $5.3B+0.5% | $5.3B+0.9% | $5.2B-0.8% | $5.3B-5.5% | $5.6B+5.5% | $5.3B+2.7% | $5.1B+5.5% | $4.9B |
| Retained Earnings | $5.3B+6.1% | $5.0B+2.3% | $4.9B-2.4% | $5.0B-3.8% | $5.2B+5.4% | $5.0B+2.2% | $4.8B+4.8% | $4.6B |
SNN Cash Flow Statement
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
SNN Financial Ratios
| Metric | Q4'25 | Q4'24 | Q4'23 | Q4'22 | Q4'21 | Q4'20 | Q4'19 | Q4'18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Ratio | 2.57-0.3 | 2.89+1.1 | 1.77-0.5 | 2.25+0.2 | 2.08-0.7 | 2.76+0.7 | 2.06-0.0 | 2.10 |
| Debt-to-Equity | 0.030.0 | 0.030.0 | 0.030.0 | 0.030.0 | 0.030.0 | 0.030.0 | 0.02-0.3 | 0.30 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Smith & Nephew's annual revenue?
Smith & Nephew (SNN) reported $6.2B in total revenue for fiscal year 2025. This represents a 6.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Smith & Nephew's revenue growing?
Smith & Nephew (SNN) revenue grew by 6.1% year-over-year, from $5.8B to $6.2B in fiscal year 2025.
Is Smith & Nephew profitable?
Yes, Smith & Nephew (SNN) reported a net income of $625.0M in fiscal year 2025, with a net profit margin of 10.1%.
How much debt does Smith & Nephew have?
As of fiscal year 2025, Smith & Nephew (SNN) had $557.0M in cash and equivalents against $149.0M in long-term debt.
What is Smith & Nephew's net profit margin?
Smith & Nephew (SNN) had a net profit margin of 10.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Smith & Nephew's return on equity (ROE)?
Smith & Nephew (SNN) has a return on equity of 11.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Smith & Nephew's operating cash flow?
Smith & Nephew (SNN) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Smith & Nephew's total assets?
Smith & Nephew (SNN) had $10.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Smith & Nephew's current ratio?
Smith & Nephew (SNN) had a current ratio of 2.57 as of fiscal year 2025, which is generally considered healthy.
What is Smith & Nephew's debt-to-equity ratio?
Smith & Nephew (SNN) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Smith & Nephew's return on assets (ROA)?
Smith & Nephew (SNN) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Smith & Nephew's Piotroski F-Score?
Smith & Nephew (SNN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Smith & Nephew's earnings high quality?
Smith & Nephew (SNN) has an earnings quality ratio of 2.06x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Smith & Nephew?
Smith & Nephew (SNN) scores 57 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.