Smith & Nephew (SN.L)
Smith & Nephew is a British medical technology business that makes the artificial joints, surgical tools, and wound-care products used in hospitals worldwide.
Is Smith & Nephew a good stock for a UK beginner?
The honest version: There's no rating here and nothing for sale. In its favour: Strong brand presence in the global medical device market. Worth weighing: Heavy reliance on hospital budgets which can be unpredictable. Below, we lay out what it does, what its numbers mean, and the honest risks, so you can decide for yourself.
Over about 2 years to 2026-07-31. This is the share price only - reinvesting the dividends would add to it. Past performance is not a guide to the future, and it could just as easily have fallen.
How much has Smith & Nephew actually fallen?
Over the last 2 years of daily prices, Smith & Nephew fell as much as −25% from a high to a later low. Drops of this size are a normal part of owning a share - worth knowing in advance, so a dip doesn't come as a shock.
Worst peak-to-trough fall in the daily closing price over the period we hold. Past falls are not a forecast - it can fall further, or recover.
Based on beta - how much the price swings versus the whole market. Bumpier isn't bad; it just means a rougher ride, which matters more the sooner you might need the money.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
Significant expansion into emerging markets and new medical fields.
Major regulatory hurdles or a shift in how surgeries are performed.
What does Smith & Nephew do?
Think of Smith & Nephew as the 'spare parts' department for the human body, specialising in hip and knee replacements alongside advanced bandages for complex wounds. Sales of these high-tech medical devices to surgeons and healthcare providers across the globe are what pay the bills. Their success rests on keeping manufacturing costs down while keeping up with the rising demand from an ageing global population.
On our factor screen it looks strongest on growth and quality, and weakest on momentum.
- ✓Pays a dividend - about 2.5% a year
- ✓Growing - revenue up about 7% over the year
- Growth screens high (74/100)
- Strong brand presence in the global medical device market
- High gross margins indicate a valuable product range
- Essential nature of medical procedures provides a level of stability
- Momentum screens low (28/100)
- Changes in government healthcare funding policies
- Potential for product recalls or legal issues
- Supply chain disruptions affecting manufacturing output
What do Smith & Nephew's numbers mean?
Does Smith & Nephew pay a dividend?
Yes - Smith & Nephew currently pays a dividend of about 2.5% a year (the yearly payout as a share of the price). A dividend is a slice of profit handed to shareholders; the yield moves as the price moves, and a company can cut or stop it.
What do the numbers say about Smith & Nephew's dividend?
There's no rating here, and we don't judge whether the dividend will continue - that would be advice. Here are the figures income investors usually look at, and what each one means, so you can weigh it up yourself.
Figures are from the latest available data and can be distorted by one-off results. Past payments don't predict future ones, and a dividend can be cut at any time. This lays out the numbers to help you understand them - it is not a view on what will happen.
When does Smith & Nephew report earnings, and how did recent quarters go?
Smith & Nephew is next scheduled to report on about 2026-08-04 - dates can move, and we don't predict results; this just tells you when to look.
Each quarter a company reports its results against what analysts expected. ‘Beating’ or ‘missing’ is about that expectation, not whether the business is doing well in absolute terms.
| Reported | Expected EPS: The earnings per share analysts expected for the quarter - the average of their forecasts. 'Beating' or 'missing' is measured against this number. | Actual EPS | vs expected |
|---|---|---|---|
| 2016-02-04 | £0.27 | £0.26 | Missed -6% |
| 2015-10-30 | £0.19 | £0.19 | In line |
| 2015-07-30 | £0.20 | £0.21 | Beat +5% |
| 2015-04-30 | £0.13 | £0.19 | Beat +38% |
| 2015-02-05 | £0.25 | £0.26 | Beat +4% |
| 2014-10-30 | £0.19 | £0.20 | Beat +4% |
Across the last 6 quarters here, Smith & Nephew came in ahead of what analysts expected 4 times. One quarter is noise, not a trend.
See who else reports over the next two weeks →
Reported vs expected earnings per share (EPS) from published results; the expectation is the analyst consensus, not our view. Report dates are estimates that can move.
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An illustrative range for the year ahead, with the assumption behind each case — not a prediction or a price target.
What are the pros and cons of Smith & Nephew?
How many points the write-up makes each way — a balance check, not a score or verdict.
- Strong brand presence in the global medical device market
- High gross margins indicate a valuable product range
- Essential nature of medical procedures provides a level of stability
- Heavy reliance on hospital budgets which can be unpredictable
- High competition from other large medical technology firms
- Complex regulatory environment for new product approvals
- Changes in government healthcare funding policies
- Potential for product recalls or legal issues
- Supply chain disruptions affecting manufacturing output
The write-up's own warning lights — if these start happening, the case above changes.
- A sustained drop in the number of elective surgeries performed globally
- A major failure in the company's research and development pipeline
Built from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →
This plain-English summary was auto-generated on 2026-08-02 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.