Projected Income Statement: Smith & Nephew Plc

Forecast Balance Sheet: Smith & Nephew Plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 2,049 2,522 2,782 2,709 2,759 2,703 2,395 1,932
Change - 23.08% 10.31% -2.62% 1.85% -2.03% -11.39% -19.33%
Announcement Date 22/02/22 21/02/23 27/02/24 25/02/25 02/03/26 - - -
1USD in Million
Estimates

Cash Flow Forecast: Smith & Nephew Plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 408 358 427 381 433 476.4 515.7 550.1
Change - -12.25% 19.27% -10.77% 13.65% 10.02% 8.25% 6.68%
Free Cash Flow (FCF) 1 469 110 181 606 852 751.6 817.4 950.8
Change - -76.55% 64.55% 234.81% 40.59% -11.79% 8.76% 16.33%
Announcement Date 22/02/22 21/02/23 27/02/24 25/02/25 02/03/26 - - -
1USD in Million
Estimates

Forecast Financial Ratios: Smith & Nephew Plc

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 25.81% 25.39% 26.38% 24.8% 26.07% 26.07% 26.67% 27.45%
EBIT Margin (%) 17.96% 17.28% 17.48% 18.06% 19.65% 19.54% 20.1% 20.89%
EBT Margin (%) 11.24% 4.51% 5.23% 8.57% 12.64% 12.96% 15.02% 16.38%
Net margin (%) 10.05% 4.28% 4.74% 7.09% 10.14% 10.64% 12.26% 13.22%
FCF margin (%) 9% 2.11% 3.26% 10.43% 13.82% 11.43% 11.76% 12.96%
FCF / Net Income (%) 89.5% 49.33% 68.82% 147.09% 136.32% 107.42% 95.91% 98.08%

Profitability

        
ROA 6.47% 6.83% 7.24% 7.23% 8.5% 6.75% 7.67% 7.6%
ROE 13.09% 13.17% 13.78% 14.02% 16.75% 15.74% 16.73% 17.1%

Financial Health

        
Leverage (Debt/EBITDA) 1.52x 1.9x 1.9x 1.88x 1.72x 1.58x 1.29x 0.96x
Debt / Free cash flow 4.37x 22.93x 15.37x 4.47x 3.24x 3.6x 2.93x 2.03x

Capital Intensity

        
CAPEX / Current Assets (%) 7.83% 6.86% 7.7% 6.56% 7.02% 7.24% 7.42% 7.5%
CAPEX / EBITDA (%) 30.33% 27.04% 29.17% 26.44% 26.94% 27.79% 27.81% 27.32%
CAPEX / FCF (%) 86.99% 325.45% 235.91% 62.87% 50.82% 63.39% 63.09% 57.86%

Items per share

        
Cash flow per share 1 0.9989 0.5361 0.6964 1.127 1.472 1.536 1.436 1.479
Change - -46.33% 29.91% 61.79% 30.66% 4.34% -6.5% 2.98%
Dividend per Share 1 0.375 0.375 0.375 0.375 0.391 0.4132 0.4555 0.4972
Change - 0% 0% 0% 4.27% 5.67% 10.25% 9.16%
Book Value Per Share 1 6.349 6.031 5.99 6.031 6.059 6.372 6.936 7.637
Change - -5.01% -0.68% 0.69% 0.47% 5.17% 8.85% 10.1%
EPS 1 0.597 0.255 0.301 0.47 0.716 0.8104 0.9866 1.126
Change - -57.29% 18.04% 56.15% 52.34% 13.18% 21.75% 14.14%
Nbr of stocks (in thousands) 8,78,536 8,69,496 8,70,199 8,72,064 8,49,724 8,47,950 8,47,950 8,47,950
Announcement Date 22/02/22 21/02/23 27/02/24 25/02/25 02/03/26 - - -
1USD
Estimates
2026 *2027 *
P/E Ratio 19.2x 15.8x
PBR 2.44x 2.24x
EV / Sales 2.42x 2.24x
Yield 2.66% 2.93%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
15.55USD
Average target price
18.68USD
Spread / Average Target
+20.13%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Stocks
  3. SN. Stock
  4. Financials Smith & Nephew Plc
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