Smith & Nephew
SNN on NYSE. Orthopedic, prosthetic & surgical appliances & supplies. Market value $11.1bn.
This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Cash flow or capital spending isn't reported, so free cash flow is unknown.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
We could not compute this from the filings.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: not known. Our list needs 70 on quality and 60 on price.
$26.92 a share, 3% above its 1-year low
Over the past year the price has ranged from $26.12 to $37.51.
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | n/a | n/a | n/a | n/a | n/a |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.89bn | 0.88bn | 0.88bn | 0.88bn | 0.88bn |
Health checks
- Free cash flow positiveNot enough data
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)Not enough data
- Profit backed by cash (accruals)Not enough data
- DebtUnknown
- Revenue growth, five yearsUnknown
- Buying back its own sharesRoughly flat
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 16 March 2026
- Next quarterly (estimated, 10-Q)
- n/a
Who owns it
5 long-term investors we follow own it, unchanged from 5 last quarter. 294 funds in all.
- Beutel GoodmanBeutel Goodman team
- Value
- $1m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Brandes Investment PartnersCharles Brandes | $62m | 0.4% | Added |
| Causeway Capital ManagementSarah Ketterer | $45m | 0.5% | Added |
| Boston PartnersBoston Partners team | $2m | <0.1% | Added |
| Beutel GoodmanBeutel Goodman team | $1m | <0.1% | |
| Scharf InvestmentsBrian Krawez | $376,381 | <0.1% | Cut |
Largest holders overall
- River Road Asset Management$93m
- Goldman Sachs Group$88mAdded
- Brandes Investment Partners$62mAdded
- Dimensional Fund Advisors LP$53mAdded
- LMR Partners LLP$51m
- Causeway Capital Management$45mAdded
- Wells Fargo & Company$40mAdded
- Todd Asset Management$36mCut
- Morgan Stanley$35mCut
- Bank of Montreal /can$33mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%; 1 of them is pushing for change.
- Cevian CapitalActivist14.2%+1.1 ptsSince 23 July 2026
- BlackRock, Inc.Passive investor7.3%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
Cevian Capital Activist | 14.2%+1.1 pts | 23 July 2026 | |
BlackRock, Inc. Passive investor | 7.3% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
We have no insider filings for this company yet.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.