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 total equity for net asset value and shareholders' equity analysis.
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. Also explore SN net assets growth trend to track the company's year-over-year net asset growth rate.
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 market value of Smith & Nephew PLC.
| 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 | — |