Smith & Nephew Plc (SNNUF) Financials

SNNUF

FY2025 annual

Revenue $6.2B +6.1% YoY

Net Income $625.0M +51.7% YoY

EPS (Diluted) Not reported for FY2025

Operating Cash Flow $1.3B +30.2% YoY

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Mar 16, 2026 Currency USD FYE December

Newest figures come from the 10-K for FY2025, filed Mar 16, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SNNUF SEC filings page.

Smith & Nephew Plc (SNNUF) reported $6.2B in revenue for fiscal year 2025, up 6.1% from the prior fiscal year. This page shows its 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).

Rhea AI SNNUF FY2025 2026-08-30

SNNUF’s dominant mechanic is a late-period earnings recovery paired with cash generation that increasingly exceeds reported profit.

Between FY2022 and FY2025, net margin rose from 4.3% to 10.1%, while operating cash flow also strengthened. Operating cash flow rose from $468M to $1.29B by FY2025, indicating cash conversion improved alongside profitability rather than the recovery appearing only in reported earnings.

With FY2025 long-term debt at $149M and the current ratio at 2.6x, the financing structure relies more on operating liabilities and equity than on long-term borrowing. That combination points to limited debt dependence despite total liabilities of $5.17B.

FY2025 financing cash flow was -$955M, showing that cash was directed outward through financing activities. Reported dividends were $330M and buybacks $502M; because free cash flow and capital expenditures are not reported, distributions are visible but residual reinvestment is not.

Financial Health Signals

Financial health score not available

Smith & Nephew Plc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Smith & Nephew Plc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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.

Earnings Quality Cash-Backed

2.06x

For every $1 of reported earnings, Smith & Nephew Plc 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

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Earnings & Revenue

None of these metrics is reported for Q4 2025.

Cash & Balance Sheet

Cash & Debt

$557.0M

YoY-10.0%

QoQ-10.0%

Smith & Nephew Plc held $557.0M in cash against $149.0M in long-term debt as of Q4 2025, with $1.6B of liabilities due within a year.

Shares Outstanding

878M

YoY0.0%

QoQ0.0%

Smith & Nephew Plc had 878M shares outstanding in Q4 2025. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q4 2025.

Dividends Per Share

Not reported for Q4 2025.

Margins & Returns

None of these metrics is reported for Q4 2025.

Capital Allocation

None of these metrics is reported for Q4 2025.

SNNUF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SNNUF quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$6.2B+6.1%	$5.8B+4.7%	$5.5B+6.4%	$5.2B+0.1%	$5.2B+14.3%	$4.6B-11.2%	$5.1B+4.8%	$4.9B+2.9%	$4.8B+2.1%	$4.7B+0.8%	$4.6B
Interest Expense	$8.0M0.0%	$8.0M0.0%	$8.0M+33.3%	$6.0M-14.3%	$7.0M+16.7%	$6.0M0.0%	$6.0M	N/A	N/A	N/A	N/A
Income Tax	$154.0M+79.1%	$86.0M+218.5%	$27.0M+125.0%	$12.0M-80.6%	$62.0M+130.7%	-$202.0M-241.3%	$143.0M+21.2%	$118.0M+5.4%	$112.0M-59.7%	$278.0M+86.6%	$149.0M
Net Income	$625.0M+51.7%	$412.0M+56.7%	$263.0M+17.9%	$223.0M-57.4%	$524.0M+17.0%	$448.0M-25.3%	$600.0M-9.5%	$663.0M-13.6%	$767.0M-2.2%	$784.0M+91.2%	$410.0M
Diluted Shares (Avg)	873M-0.3%	876M+0.3%	873M0.0%	873M-0.6%	878M+0.1%	877M0.0%	877M+0.1%	876M+0.1%	875M-2.0%	893M-0.7%	899M

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

SNNUF Balance Sheet

SNNUF quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
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+2.5%	$7.9B+7.1%	$7.3B+2.5%	$7.2B
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+12.7%	$2.7B+8.0%	$2.5B	N/A
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+114.8%	$155.0M+307.9%	$38.0M-62.7%	$102.0M
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+7.0%	$1.3B+4.8%	$1.2B+2.2%	$1.2B
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+4.7%	$1.3B+6.2%	$1.2B+4.1%	$1.1B
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-1.4%	$2.4B+8.4%	$2.2B	N/A
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-1.1%	$3.2B-4.8%	$3.4B+5.8%	$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+8.8%	$1.3B-0.1%	$1.3B	N/A
Non-Current Liabilities	$3.6B+0.4%	$3.6B+42.4%	$2.5B-16.5%	$3.0B-7.1%	$3.2B-20.4%	$4.0B+55.9%	$2.6B+50.8%	$1.7B-8.3%	$1.9B-7.9%	$2.0B	N/A
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+1.0%	$1.4B-12.1%	$1.6B	N/A
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+5.0%	$4.6B+17.3%	$4.0B-0.2%	$4.0B
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+6.8%	$4.3B+9.0%	$4.0B	N/A

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
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+2.5%
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+12.7%
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+114.8%
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+7.0%
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+4.7%
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-1.4%
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-1.1%
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+8.8%
Non-Current Liabilities	$3.6B+0.4%	$3.6B+42.4%	$2.5B-16.5%	$3.0B-7.1%	$3.2B-20.4%	$4.0B+55.9%	$2.6B+50.8%	$1.7B-8.3%
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+1.0%
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+5.0%
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+6.8%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

SNNUF Cash Flow Statement

SNNUF quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$1.3B+30.2%	$987.0M+62.3%	$608.0M+29.9%	$468.0M-46.6%	$877.0M-6.2%	$935.0M-19.9%	$1.2B+25.5%	$931.0M-14.6%	$1.1B+28.4%	$849.0M-17.6%	$1.0B
Depreciation & Amortization	$573.0M-11.2%	$645.0M+211.6%	$207.0M+1.0%	$205.0M+19.2%	$172.0M+0.6%	$171.0M+19.6%	$143.0M+26.5%	$113.0M-19.3%	$140.0M-21.3%	$178.0M-63.9%	$493.0M
Investing Cash Flow	-$406.0M+28.6%	-$569.0M-27.0%	-$448.0M+5.1%	-$472.0M+31.7%	-$691.0M-14.0%	-$606.0M+51.6%	-$1.3B-231.0%	-$378.0M+30.4%	-$543.0M-41.8%	-$383.0M+10.7%	-$429.0M
Financing Cash Flow	-$955.0M-1010.5%	-$86.0M+57.0%	-$200.0M+78.4%	-$926.0M-43.6%	-$645.0M-155.4%	$1.2B+16528.6%	$7.0M+101.9%	-$371.0M+14.5%	-$434.0M+18.0%	-$529.0M+5.2%	-$558.0M
Dividends Paid	$330.0M+0.9%	$327.0M0.0%	$327.0M0.0%	$327.0M-0.6%	$329.0M+0.3%	$328.0M+3.1%	$318.0M-0.9%	$321.0M+19.3%	$269.0M-3.6%	$279.0M+2.6%	$272.0M
Share Buybacks	$502.0M	N/A	N/A	$158.0M	N/A	$16.0M-74.6%	$63.0M+31.3%	$48.0M-7.7%	$52.0M-85.9%	$368.0M+377.9%	$77.0M

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K

Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.

SNNUF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

SNNUF quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Net Margin	10.1%+3.0pp	7.1%+2.4pp	4.7%+0.5pp	4.3%-5.8pp	10.1%+0.2pp	9.8%-1.9pp	11.7%-1.8pp	13.5%-2.6pp	16.1%-0.7pp	16.8%+7.9pp	8.8%
Return on Equity	11.8%+4.0pp	7.8%+2.8pp	5.0%+0.8pp	4.2%-5.2pp	9.4%+0.9pp	8.5%-3.2pp	11.7%-1.9pp	13.6%-2.9pp	16.5%-3.3pp	19.8%+9.5pp	10.3%
Return on Assets	6.0%+2.0pp	4.0%+1.4pp	2.6%+0.4pp	2.2%-2.6pp	4.8%+0.7pp	4.1%-2.4pp	6.5%-1.8pp	8.2%-1.5pp	9.8%-0.9pp	10.7%+5.0pp	5.7%
Current Ratio	2.57-0.3x	2.89+1.1x	1.77-0.5x	2.25+0.2x	2.08-0.7x	2.76+0.7x	2.060.0x	2.10+0.1x	2.03+0.2x	1.88	N/A
Debt-to-Equity	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.02-0.3x	0.300.0x	0.31-0.1x	0.42-0.4x	0.81
Asset Turnover	0.590.0x	0.560.0x	0.560.0x	0.520.0x	0.48+0.1x	0.41-0.1x	0.55-0.1x	0.610.0x	0.610.0x	0.640.0x	0.65

Metric	Q4'2510-K	Q4'2410-K	Q4'2310-K	Q4'2210-K	Q4'2110-K	Q4'2010-K	Q4'1910-K	Q4'1810-K
Current Ratio	2.57-0.3x	2.89+1.1x	1.77-0.5x	2.25+0.2x	2.08-0.7x	2.76+0.7x	2.060.0x	2.10+0.1x
Debt-to-Equity	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.030.0x	0.02-0.3x	0.300.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.

Where Smith & Nephew Plc Ranks

Frequently Asked Questions

What is Smith & Nephew Plc's annual revenue?

Smith & Nephew Plc (SNNUF) 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 Plc's revenue growing?

Smith & Nephew Plc (SNNUF) revenue grew by 6.1% year-over-year, from $5.8B to $6.2B in fiscal year 2025.

Is Smith & Nephew Plc profitable?

Yes, Smith & Nephew Plc (SNNUF) 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 Plc have?

As of fiscal year 2025, Smith & Nephew Plc (SNNUF) had $557.0M in cash and equivalents against $149.0M in long-term debt.

What is Smith & Nephew Plc's net profit margin?

Smith & Nephew Plc (SNNUF) 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 Plc's return on equity (ROE)?

Smith & Nephew Plc (SNNUF) 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 Plc's operating cash flow?

Smith & Nephew Plc (SNNUF) generated $1.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Smith & Nephew Plc's total assets?

Smith & Nephew Plc (SNNUF) had $10.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Smith & Nephew Plc buy back shares?

Yes, Smith & Nephew Plc (SNNUF) spent $502.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Smith & Nephew Plc have outstanding?

Smith & Nephew Plc (SNNUF) had 878M shares outstanding as of fiscal year 2025.

What is Smith & Nephew Plc's current ratio?

Smith & Nephew Plc (SNNUF) had a current ratio of 2.57 as of fiscal year 2025, which is generally considered healthy.

What is Smith & Nephew Plc's debt-to-equity ratio?

Smith & Nephew Plc (SNNUF) 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 Plc's return on assets (ROA)?

Smith & Nephew Plc (SNNUF) 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 Plc's Piotroski F-Score?

Smith & Nephew Plc (SNNUF) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Smith & Nephew Plc's earnings high quality?

Smith & Nephew Plc (SNNUF) 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.