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Smith & Nephew plc (SNN)
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Smith & Nephew plc Income Statement 2025-2011 | SNN
Brief overview of revenue and earnings at Smith & Nephew plc
The conclusions below are based on five years of reported results. Revenue at Smith & Nephew plc moved from $4.6 billion in 2015 to $4.6 billion in 2020. The total change was −1.6%, with a CAGR of approximately −0.3%. The business did not achieve meaningful top-line expansion.
Gross profit was 3.5 billion dollars at the start and 3.2 billion dollars at the end of the period (−9.4%). The relationship between sales and direct costs deteriorated. At the margin level, the figure shifted from 75.3% to 69.4%. Weakening gross profitability reduces the quality of the top-line trend.
EBITDA changed from $1.2 billion to $857 million (−26.4%). EBITDA underperformed the top-line trend. At the operating-margin level, the figure shifted from 25.1% to 18.8%. The business retained less EBITDA from each unit of revenue.
The net result moved from 410 million dollars to 448 million dollars, or +9.3%. Net profitability strengthened faster than the top line.
The five-year change in capitalization reached +20.7%: from $15 billion to $18.1 billion. Higher capitalization indicates improving investor confidence.
What the figures show
The financial trajectory is weak and requires a cautious interpretation. The positive side is supported by a stronger final result. Caution is warranted because of weak sales momentum, weaker operating efficiency and pressure from direct costs. The key question is whether sales can be converted into sustainable profit.
Annual Income Statement Smith & Nephew plc
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
27.4 B | 23 B | 23.5 B | 23.7 B | 29.7 B | 18.1 B | 20.1 B | 15.7 B | 14.8 B | 13.5 B | 15 B | 16 B | 13.2 B | 10.4 B | 8.61 B |
Shares |
867 M | 873 M | 871 M | 872 M | 877 M | 437 M | 437 M | 436 M | 437 M | 445 M | 447 M | 446 M | 450 M | 448 M | 446 M |
Historical Prices |
31.6 | 26.3 | 27 | 27.1 | 33.9 | 41.4 | 46.1 | 35.9 | 33.8 | 27.6 | 29.9 | 31.3 | 24.8 | 19.4 | 16 |
Net Income |
625 M | 412 M | 263 M | 223 M | 524 M | 448 M | 600 M | 663 M | 767 M | 784 M | 410 M | 501 M | 556 M | 729 M | 582 M |
Revenue |
- | - | - | - | - | 4.56 B | 5.14 B | 4.9 B | 4.76 B | 4.67 B | 4.63 B | 4.62 B | 4.35 B | 4.14 B | 4.27 B |
Cost of Revenue |
1.97 B | 1.76 B | 1.73 B | 1.54 B | 1.54 B | 1.4 B | 1.34 B | 1.3 B | 1.25 B | 1.27 B | 1.14 B | - | - | - | - |
Gross Profit |
4.19 B | 4.05 B | 3.82 B | 3.68 B | 3.67 B | 3.16 B | 3.8 B | 3.61 B | 3.52 B | 3.4 B | 3.49 B | 3.46 B | 3.25 B | 3.07 B | 3.13 B |
Operating Income |
794 M | 657 M | 425 M | 450 M | 593 M | 295 M | 815 M | 863 M | 934 M | 801 M | 628 M | - | - | - | - |
Interest Expense |
140 M | 145 M | 132 M | 80 M | 80 M | 62 M | 65 M | 59 M | 57 M | 52 M | 49 M | - | - | - | - |
EBITDA |
1.37 B | 1.3 B | 1.11 B | 1.07 B | 1.16 B | 857 M | 1.32 B | 1.3 B | 1.38 B | 1.14 B | 1.16 B | 1.09 B | 1.03 B | 1.01 B | 1.16 B |
Operating Expenses |
3.4 B | 3.39 B | 3.39 B | 3.22 B | 3.08 B | 2.67 B | 2.81 B | 2.6 B | 2.56 B | 2.5 B | 2.6 B | 2.56 B | 2.37 B | 2.15 B | 2.27 B |
General and Administrative Expenses |
3.1 B | 3.1 B | 3.06 B | 2.88 B | 2.72 B | 387 M | 403 M | 367 M | 351 M | 314 M | 369 M | 464 M | 451 M | 443 M | 2.1 B |
Annual performance
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All numbers in USD currency
Quarterly Income Statement 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
867 M | 873 M | 871 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
625 M | 412 M | 263 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
1.97 B | 1.76 B | 1.73 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
4.19 B | 4.05 B | 3.82 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
794 M | 657 M | 425 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
140 M | 145 M | 132 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
1.37 B | 1.3 B | 1.11 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses |
3.4 B | 3.39 B | 3.39 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
3.1 B | 3.1 B | 3.06 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Smith & Nephew plc (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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