Smith & Nephew PLC (SN) — Tangible Net Worth Ratio
Smith & Nephew PLC (SN) has a Tangible Net Worth Ratio of 83.3% as of December 2025. This metric is calculated by deducting intangible assets (GBX882.32 Million) from net assets (GBX5.29 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See SN net working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Smith & Nephew PLC Tangible Net Worth Ratio (1985–2025)
This chart shows how Smith & Nephew PLC's Tangible Net Worth Ratio has changed across 41 annual periods from 1985 to 2025. As of December 2025, the ratio stands at 83.3%, reflecting net assets of GBX5.29 Billion with intangible assets of GBX882.32 Million GBX. See operational self-sufficiency of Smith & Nephew PLC to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Smith & Nephew PLC (1985–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Smith & Nephew PLC from 1985 to 2025, covering 41 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see SN company net worth.
| Year | Tangible NW Ratio | Net Assets (GBX) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 83.3% | GBX5.29 Billion | GBX882.32 Million | GBX10.46 Billion | ▲ +2.9 pp |
| 2024 | 80.4% | GBX5.26 Billion | GBX1.03 Billion | GBX10.35 Billion | ▲ +1.7 pp |
| 2023 | 78.7% | GBX5.22 Billion | GBX1.11 Billion | GBX9.99 Billion | ▲ +2.2 pp |
| 2022 | 76.5% | GBX5.26 Billion | GBX1.24 Billion | GBX9.97 Billion | ▲ +1.6 pp |
| 2021 | 74.9% | GBX5.57 Billion | GBX1.40 Billion | GBX10.92 Billion | ▲ +3.0 pp |
| 2020 | 71.9% | GBX5.28 Billion | GBX1.49 Billion | GBX11.01 Billion | ▲ +2.3 pp |
| 2019 | 69.5% | GBX5.14 Billion | GBX1.57 Billion | GBX9.30 Billion | ▼ -5.7 pp |
| 2018 | 75.2% | GBX4.87 Billion | GBX1.21 Billion | GBX8.06 Billion | ▲ +4.7 pp |
| 2017 | 70.5% | GBX4.64 Billion | GBX1.37 Billion | GBX7.87 Billion | ▲ +6.1 pp |
| 2016 | 64.4% | GBX3.96 Billion | GBX1.41 Billion | GBX7.34 Billion | ▲ +2.2 pp |
| 2015 | 62.1% | GBX3.97 Billion | GBX1.50 Billion | GBX7.17 Billion | ▲ +5.4 pp |
| 2014 | 56.8% | GBX4.04 Billion | GBX1.75 Billion | GBX7.31 Billion | ▼ -17.2 pp |
| 2013 | 74.0% | GBX4.05 Billion | GBX1.05 Billion | GBX5.82 Billion | ▲ +1.4 pp |
| 2012 | 72.6% | GBX3.88 Billion | GBX1.06 Billion | GBX5.64 Billion | ▼ -14.1 pp |
| 2011 | 86.7% | GBX3.19 Billion | GBX423.00 Million | GBX4.75 Billion | ▲ +2.1 pp |
| 2010 | 84.6% | GBX2.77 Billion | GBX426.00 Million | GBX4.73 Billion | ▲ +3.5 pp |
| 2009 | 81.1% | GBX2.18 Billion | GBX412.00 Million | GBX4.57 Billion | ▲ +3.2 pp |
| 2008 | 77.9% | GBX1.70 Billion | GBX376.00 Million | GBX4.51 Billion | ▲ +0.9 pp |
| 2007 | 76.9% | GBX1.82 Billion | GBX419.00 Million | GBX4.46 Billion | ▼ -14.3 pp |
| 2006 | 91.2% | GBX2.17 Billion | GBX191.00 Million | GBX3.23 Billion | ▼ -2.4 pp |
| 2005 | 93.7% | GBX1.44 Billion | GBX91.00 Million | GBX2.98 Billion | ▲ +47.1 pp |
| 2004 | 46.5% | GBX1.35 Billion | GBX719.85 Million | GBX2.92 Billion | ▼ -11.4 pp |
| 2003 | 58.0% | GBX1.14 Billion | GBX481.07 Million | GBX2.22 Billion | ▲ +19.3 pp |
| 2002 | 38.7% | GBX833.21 Million | GBX510.91 Million | GBX1.99 Billion | ▼ -14.9 pp |
| 2001 | 53.6% | GBX589.18 Million | GBX273.47 Million | GBX1.60 Billion | ▲ +11.0 pp |
| 2000 | 42.5% | GBX399.84 Million | GBX229.72 Million | GBX1.44 Billion | ▼ -44.0 pp |
| 1999 | 86.6% | GBX892.49 Million | GBX119.71 Million | GBX1.59 Billion | ▼ -7.6 pp |
| 1998 | 94.2% | GBX805.88 Million | GBX46.97 Million | GBX1.50 Billion | ▼ -1.6 pp |
| 1997 | 95.8% | GBX762.58 Million | GBX31.91 Million | GBX1.43 Billion | ▲ +0.0 pp |
| 1996 | 95.8% | GBX745.62 Million | GBX31.34 Million | GBX1.44 Billion | ▼ -1.3 pp |
| 1995 | 97.1% | GBX625.35 Million | GBX18.23 Million | GBX1.27 Billion | ▼ -2.9 pp |
| 1994 | 100.0% | GBX697.12 Million | GBX2.00 | GBX1.32 Billion | ▲ +67.5 pp |
| 1993 | 32.5% | GBX514.17 Million | GBX346.87 Million | GBX1.31 Billion | ▼ -67.5 pp |
| 1992 | 100.0% | GBX549.35 Million | GBX0.00 | GBX1.34 Billion | ▲ +0.0 pp |
| 1991 | 100.0% | GBX538.71 Million | GBX0.00 | GBX1.58 Billion | ▲ +69.5 pp |
| 1990 | 30.5% | GBX521.01 Million | GBX362.25 Million | GBX1.53 Billion | ▼ -69.5 pp |
| 1989 | 100.0% | GBX401.80 Million | GBX2.00 | GBX1.35 Billion | ▼ 0.0 pp |
| 1988 | 100.0% | GBX433.72 Million | GBX0.00 | GBX1.27 Billion | ▲ +55.8 pp |
| 1987 | 44.2% | GBX446.29 Million | GBX249.00 Million | GBX1.23 Billion | ▲ +4.0 pp |
| 1986 | 40.2% | GBX311.35 Million | GBX186.13 Million | GBX888.50 Million | ▼ -10.8 pp |
| 1985 | 51.0% | GBX273.58 Million | GBX134.12 Million | GBX643.40 Million | — |