Added to YB: 2026-08-11
Pitch date: 2026-08-07
SNN [neutral]
Smith & Nephew plc
+0.97%
current return
Author Info
No bio for this author
Company Info
Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.
Market Cap
GBP 12.6B
Pitch Price
GBP 29.79
Price Target
N/A
Dividend
2.60%
EV/EBITDA
10.11
P/E
20.42
EV/Sales
2.49
Sector
Health Care Equipment and Supplies
Category
turnaround
Theodosian Capital | Stocks Update 7/8/2026 - SN/ – Volumes lower but margins better
SNN (earnings): Q2 USG just 1.6% (US -1.3%), but trading profit +8.1%, margin +60bps to 18.3% on efficiency/leverage. Sports Med +8.6% only growth driver. FY rev cut to ~4% from 6%; profit/ROIC/FCF held. Nath self-help working: margin +300bps since H1'23. Net debt $3bn, 1.8x. 8.2x 2028 EPS, 4.4% yield. Needs top-line fix.
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