To the full analysis
Smith & Nephew stock: balance sheet and debt
SNNSmith & Nephew has a debt to equity ratio of 0.63 and an interest coverage of 6.2x.
Daily figure as of 13 Nov 2026
Debt / Equity
0.63
Interest coverage
6.2x
Current ratio
2.57
Cash & equivalents
$557M
Total assets
$10.46B
Equity ratio
50.6%
Goodwill
$3.11B
Plus intangible assets of $882M
Net debt
$2.77B
Total assets and equity ratio
How large the balance sheet of Smith & Nephew plc is, how much of it is equity and how much is goodwill from acquisitions.
Equity ratio
Figures as a table
| Year | Total assets | Goodwill and intangible assets | of which goodwill | Equity ratio | Net debt |
|---|---|---|---|---|---|
| 2006 | $3.23B | $831M | $640M | 67.3% | −$212M |
| 2007 | $4.46B | $1.64B | $1.23B | 40.7% | $1.31B |
| 2008 | $4.51B | $1.57B | $1.19B | 37.7% | $1.33B |
| 2009 | $4.57B | $1.51B | $1.09B | 47.7% | $970M |
| 2010 | $4.73B | $1.53B | $1.1B | 58.6% | $492M |
| 2011 | $4.75B | $1.52B | $1.1B | 67.1% | $138M |
| 2012 | $5.64B | $2.25B | $1.19B | 68.8% | $290M |
| 2013 | $5.82B | $2.31B | $1.26B | 69.5% | $254M |
| 2014 | $7.31B | $3.77B | $2.03B | 55.3% | $1.61B |
| 2015 | $7.17B | $3.51B | $2.01B | 55.3% | $1.36B |
| 2016 | $7.34B | $3.6B | $2.19B | 53.9% | $1.55B |
| 2017 | $7.87B | $3.74B | $2.37B | 59.0% | $1.28B |
| 2018 | $8.06B | $3.55B | $2.34B | 60.5% | $1.1B |
| 2019 | $9.3B | $4.36B | $2.79B | 55.3% | $1.77B |
| 2020 | $11.01B | $4.41B | $2.93B | 47.9% | $1.93B |
| 2021 | $10.92B | $4.39B | $2.99B | 51.0% | $2.05B |
| 2022 | $9.97B | $4.27B | $3.03B | 52.8% | $2.52B |
| 2023 | $9.99B | $4.1B | $2.99B | 52.2% | $2.78B |
| 2024 | $10.35B | $4.06B | $3.03B | 50.8% | $2.7B |
| 2025 | $10.46B | $3.99B | $3.11B | 50.6% | $2.77B |
The equity ratio divides total equity, including non-controlling interests, by total assets. Net debt is debt minus cash and short-term investments; a negative figure means cash exceeds debt.
Equity and debt
What the company owns and owes
- Cash & equivalents
- Equity
- Debt
Figures as a table
| Year | Cash & equivalents | Equity | Debt | Debt / Equity |
|---|---|---|---|---|
| 2006 | $346M | $2.17B | $134M | 0.06 |
| 2007 | $170M | $1.82B | $1.48B | 0.81 |
| 2008 | $145M | $1.7B | $1.47B | 0.87 |
| 2009 | $192M | $2.18B | $1.16B | 0.53 |
| 2010 | $207M | $2.77B | $699M | 0.25 |
| 2011 | $184M | $3.19B | $322M | 0.1 |
| 2012 | $178M | $3.88B | $468M | 0.12 |
| 2013 | $137M | $4.05B | $391M | 0.1 |
| 2014 | $93M | $4.04B | $1.71B | 0.42 |
| 2015 | $120M | $3.97B | $1.48B | 0.37 |
| 2016 | $100M | $3.96B | $1.65B | 0.42 |
| 2017 | $169M | $4.64B | $1.45B | 0.31 |
| 2018 | $365M | $4.87B | $1.47B | 0.3 |
| 2019 | $277M | $5.14B | $2.05B | 0.4 |
| 2020 | $1.76B | $5.28B | $3.69B | 0.7 |
| 2021 | $1.29B | $5.57B | $3.34B | 0.6 |
| 2022 | $350M | $5.26B | $2.87B | 0.55 |
| 2023 | $302M | $5.22B | $3.08B | 0.59 |
| 2024 | $619M | $5.27B | $3.32B | 0.63 |
| 2025 | $557M | $5.29B | $3.33B | 0.63 |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 14 Feb 2025)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.