Smith & Nephew Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	6,164	5,810	5,549	5,215	5,212
Revenue Growth (YoY)	6.09%	4.70%	6.40%	0.06%	14.30%
Cost of Revenue	1,957	1,731	1,654	1,515	1,514
Gross Profit	4,207	4,079	3,895	3,700	3,698
Selling, General & Admin	3,036	2,904	2,834	2,707	2,637
Research & Development	294	289	320	335	349
Operating Expenses	3,330	3,193	3,154	3,042	2,986
Operating Income	877	886	741	658	712
Interest Expense	-140	-145	-132	-80	-80
Interest & Investment Income	28	24	34	14	6
Earnings From Equity Investments	113	-10	-30	-141	9
Other Non Operating Income (Expenses)	-10	-24	-6	-6	-6
EBT Excluding Unusual Items	868	731	607	445	641
Merger & Restructuring Charges	-47	-123	-220	-167	-113
Gain (Loss) on Sale of Investments	-	-	-	-	75
Asset Writedown	-10	-16	-37	-39	-2
Legal Settlements	-	-	-	-	-8
Other Unusual Items	-32	-94	-60	-4	-7
Pretax Income	779	498	290	235	586
Income Tax Expense	154	86	27	12	62
Net Income	625	412	263	223	524
Net Income to Common	625	412	263	223	524
Net Income Growth	51.70%	56.65%	17.94%	-57.44%	16.96%
Shares Outstanding (Basic)	867	873	871	872	877
Shares Outstanding (Diluted)	873	876	873	873	878
Shares Change (YoY)	-0.34%	0.34%	-	-0.57%	0.11%
EPS (Basic)	0.72	0.47	0.30	0.26	0.60
EPS (Diluted)	0.72	0.47	0.30	0.26	0.60
EPS Growth	52.34%	56.15%	18.04%	-57.29%	16.60%
Free Cash Flow	852	606	181	110	469
Free Cash Flow Per Share	0.98	0.69	0.21	0.13	0.53
Dividend Per Share	0.391	0.375	0.375	0.375	0.375
Dividend Growth	4.27%	-	-	-	-
Gross Margin	68.25%	70.21%	70.19%	70.95%	70.95%
Operating Margin	14.23%	15.25%	13.35%	12.62%	13.66%
Profit Margin	10.14%	7.09%	4.74%	4.28%	10.05%
Free Cash Flow Margin	13.82%	10.43%	3.26%	2.11%	9.00%
EBITDA	1,336	1,335	1,214	1,150	1,219
EBITDA Margin	21.67%	22.98%	21.88%	22.05%	23.39%
D&A For EBITDA	459	449	473	492	507
EBIT	877	886	741	658	712
EBIT Margin	14.23%	15.25%	13.35%	12.62%	13.66%
Effective Tax Rate	19.77%	17.27%	9.31%	5.11%	10.58%
Advertising Expenses	91	84	88	92	81

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.