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Smith & Nephew plc Balance Sheet 2025-2011 | SNN
Brief overview of Smith & Nephew plc's balance sheet structure
The review uses the five latest available annual reports between 2021 and 2025.
The asset base was stable: the change from $10.9 billion to $10.5 billion does not indicate a material increase in scale.
The growth rates were balanced: assets changed -4.2%, while liabilities changed -3.4%.
Equity accounts for 50.6% of assets. Against the initial , the capital position looks resilient.
The balance sheet holds more cash than interest-bearing debt; net debt is -$341 million, indicating minimal leverage.
Cash accounts for 5.3% of assets versus 11.8% initially. The change indicates the degree of financial flexibility.
Retained earnings are $5.3 billion versus initially. The direction shows how results contributed to equity.
Balance sheet takeaway
Smith & Nephew plc's financial position is positive on balance sheet evidence. Growth in resources has not undermined capital strength.
Annual Balance Sheet Smith & Nephew plc
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-341 M | -423 M | -103 M | -154 M | - | 1.5 B | 1.64 B | 968 M | 1.28 B | 1.54 B | 1.35 B | 1.6 B | 240 M | 274 M | 138 M |
Long Term Debt |
149 M | 135 M | 144 M | 147 M | - | 3.2 B | 1.85 B | 1.3 B | 1.42 B | 1.56 B | 1.43 B | 1.66 B | 335 M | 416 M | 16 M |
Long Term Debt Current |
67 M | 61 M | 55 M | 49 M | 56 M | 58 M | 46 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
3.57 B | 3.56 B | 2.5 B | 2.99 B | - | 4.04 B | 2.59 B | 1.72 B | 1.88 B | 2.04 B | 1.86 B | 2.1 B | 699 M | 828 M | 441 M |
Total Liabilities |
5.17 B | 5.09 B | 4.77 B | 4.71 B | 5.35 B | 5.73 B | 4.16 B | 3.18 B | 3.22 B | 3.39 B | 3.2 B | 3.27 B | 1.77 B | 1.76 B | 1.56 B |
Retained Earnings |
5.32 B | 5.02 B | 4.91 B | 5.03 B | - | 4.96 B | 4.85 B | 4.62 B | 4.33 B | 3.97 B | 3.73 B | 3.65 B | 3.52 B | 3.82 B | 3.26 B |
Total Assets |
10.5 B | 10.4 B | 9.99 B | 9.97 B | 10.9 B | 11 B | 9.3 B | 8.06 B | 7.87 B | 7.34 B | 7.17 B | 7.31 B | 5.82 B | 5.64 B | 4.75 B |
Cash and Cash Equivalents |
557 M | 619 M | 302 M | 350 M | 1.28 B | 1.75 B | 257 M | 333 M | 155 M | 38 M | 102 M | - | - | - | - |
Book Value |
5.29 B | 5.26 B | 5.22 B | 5.26 B | 5.57 B | 5.28 B | 5.14 B | 4.87 B | 4.64 B | 3.96 B | 3.97 B | 4.04 B | 4.05 B | 3.88 B | 3.19 B |
Total Shareholders Equity |
5.29 B | 5.26 B | 5.22 B | 5.26 B | - | 5.28 B | 5.14 B | 4.87 B | 4.64 B | 3.96 B | 3.97 B | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Smith & Nephew plc
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
149 M | 135 M | 144 M | - | - | - | - | 141 M | - | - | - | 146 M | - | - | - | 124 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
3.57 B | 3.56 B | 2.5 B | - | - | - | - | 3.22 B | - | - | - | 4.04 B | - | - | - | 2.59 B | - | - | - | 1.72 B | - | - | - | 1.88 B | - | - | - | 2.04 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
5.17 B | 5.09 B | 4.77 B | - | - | - | - | 5.35 B | - | - | - | 5.73 B | - | - | - | 4.16 B | - | - | - | 3.18 B | - | - | - | 3.22 B | - | - | - | 3.39 B | - | - | - | 3.2 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
5.32 B | 5.02 B | 4.91 B | - | - | - | - | 5.22 B | - | - | - | 4.96 B | - | - | - | 4.85 B | - | - | - | 4.62 B | - | - | - | 4.33 B | - | - | - | 3.97 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
10.5 B | 10.4 B | 9.99 B | - | - | - | - | 10.9 B | - | - | - | 11 B | - | - | - | 9.3 B | - | - | - | 8.06 B | - | - | - | 7.87 B | - | - | - | 7.34 B | - | - | - | 7.17 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
557 M | 619 M | 302 M | - | - | - | - | 1.28 B | - | - | - | 1.75 B | - | - | - | 257 M | - | - | - | 333 M | - | - | - | 155 M | - | - | - | 38 M | - | - | - | 102 M | - | - | - | 65 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
5.29 B | 5.26 B | 5.22 B | - | - | - | - | 5.57 B | - | - | - | 5.28 B | - | - | - | 5.14 B | - | - | - | 4.87 B | - | - | - | 4.64 B | - | - | - | 3.96 B | - | - | - | 3.97 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
5.29 B | 5.26 B | 5.22 B | - | - | - | - | 5.57 B | - | - | - | 5.28 B | - | - | - | 5.14 B | - | - | - | 4.87 B | - | - | - | 4.64 B | - | - | - | 3.96 B | - | - | - | 3.97 B | - | - | - | 4.04 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Smith & Nephew plc, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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