Smith & Nephew PLC (SN) — Working Capital to Net Assets Ratio
Smith & Nephew PLC (SN) has a Working Capital to Net Assets ratio of 47.4% as of December 2025. Working capital of GBX2.51 Billion (current assets of GBX4.10 Billion minus current liabilities of GBX1.60 Billion) is measured against net assets of GBX5.29 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See SN net asset quality score to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Smith & Nephew PLC Working Capital to Net Assets (1985–2025)
This chart shows how Smith & Nephew PLC's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of December 2025, the ratio stands at 47.4%, reflecting working capital of GBX2.51 Billion against net assets of GBX5.29 Billion GBX. Check how tangible is Smith & Nephew PLC's equity to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Smith & Nephew PLC (1985–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Smith & Nephew PLC from 1985 to 2025, covering 41 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Smith & Nephew PLC (SN) total market value.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 47.4% | GBX2.51 Billion | GBX5.29 Billion | GBX4.10 Billion | GBX1.60 Billion | ▼ -7.5 pp |
| 2024 | 54.9% | GBX2.89 Billion | GBX5.26 Billion | GBX4.42 Billion | GBX1.53 Billion | ▲ +21.2 pp |
| 2023 | 33.7% | GBX1.76 Billion | GBX5.22 Billion | GBX4.03 Billion | GBX2.27 Billion | ▼ -7.0 pp |
| 2022 | 40.7% | GBX2.14 Billion | GBX5.26 Billion | GBX3.86 Billion | GBX1.72 Billion | ▼ -0.5 pp |
| 2021 | 41.2% | GBX2.29 Billion | GBX5.57 Billion | GBX4.42 Billion | GBX2.13 Billion | ▼ -15.2 pp |
| 2020 | 56.4% | GBX2.98 Billion | GBX5.28 Billion | GBX4.66 Billion | GBX1.69 Billion | ▲ +24.2 pp |
| 2019 | 32.2% | GBX1.66 Billion | GBX5.14 Billion | GBX3.22 Billion | GBX1.56 Billion | ▼ -0.9 pp |
| 2018 | 33.1% | GBX1.61 Billion | GBX4.87 Billion | GBX3.08 Billion | GBX1.47 Billion | ▲ +3.3 pp |
| 2017 | 29.8% | GBX1.39 Billion | GBX4.64 Billion | GBX2.73 Billion | GBX1.35 Billion | ▼ 0.0 pp |
| 2016 | 29.8% | GBX1.18 Billion | GBX3.96 Billion | GBX2.53 Billion | GBX1.35 Billion | ▲ +1.3 pp |
| 2015 | 28.5% | GBX1.13 Billion | GBX3.97 Billion | GBX2.48 Billion | GBX1.34 Billion | ▼ -3.1 pp |
| 2014 | 31.6% | GBX1.28 Billion | GBX4.04 Billion | GBX2.44 Billion | GBX1.16 Billion | ▲ +2.4 pp |
| 2013 | 29.2% | GBX1.18 Billion | GBX4.05 Billion | GBX2.26 Billion | GBX1.07 Billion | ▼ -2.0 pp |
| 2012 | 31.3% | GBX1.21 Billion | GBX3.88 Billion | GBX2.14 Billion | GBX930.00 Million | ▼ -2.2 pp |
| 2011 | 33.5% | GBX1.07 Billion | GBX3.19 Billion | GBX2.21 Billion | GBX1.14 Billion | ▼ -11.2 pp |
| 2010 | 44.7% | GBX1.24 Billion | GBX2.77 Billion | GBX2.15 Billion | GBX914.00 Million | ▼ -11.4 pp |
| 2009 | 56.1% | GBX1.22 Billion | GBX2.18 Billion | GBX2.08 Billion | GBX863.00 Million | ▼ -3.8 pp |
| 2008 | 59.9% | GBX1.02 Billion | GBX1.70 Billion | GBX1.99 Billion | GBX968.00 Million | ▲ +80.2 pp |
| 2007 | -20.3% | GBX-369.00 Million | GBX1.82 Billion | GBX1.92 Billion | GBX2.29 Billion | ▼ -58.5 pp |
| 2006 | 38.1% | GBX829.00 Million | GBX2.17 Billion | GBX1.65 Billion | GBX816.00 Million | ▲ +0.2 pp |
| 2005 | 37.9% | GBX544.00 Million | GBX1.44 Billion | GBX1.56 Billion | GBX1.01 Billion | ▲ +8.6 pp |
| 2004 | 29.3% | GBX394.16 Million | GBX1.35 Billion | GBX1.22 Billion | GBX828.99 Million | ▼ -13.5 pp |
| 2003 | 42.7% | GBX489.11 Million | GBX1.14 Billion | GBX1.06 Billion | GBX566.43 Million | ▲ +0.8 pp |
| 2002 | 41.9% | GBX349.20 Million | GBX833.21 Million | GBX858.02 Million | GBX508.82 Million | ▲ +18.0 pp |
| 2001 | 23.9% | GBX141.10 Million | GBX589.18 Million | GBX765.09 Million | GBX623.98 Million | ▼ -24.5 pp |
| 2000 | 48.5% | GBX193.87 Million | GBX399.84 Million | GBX797.29 Million | GBX603.42 Million | ▲ +3.4 pp |
| 1999 | 45.1% | GBX402.48 Million | GBX892.49 Million | GBX1.00 Billion | GBX599.20 Million | ▲ +4.9 pp |
| 1998 | 40.2% | GBX324.18 Million | GBX805.88 Million | GBX947.63 Million | GBX623.45 Million | ▼ -4.0 pp |
| 1997 | 44.2% | GBX336.90 Million | GBX762.58 Million | GBX927.89 Million | GBX590.99 Million | ▼ -2.6 pp |
| 1996 | 46.8% | GBX348.84 Million | GBX745.62 Million | GBX966.71 Million | GBX617.87 Million | ▲ +0.4 pp |
| 1995 | 46.4% | GBX290.19 Million | GBX625.35 Million | GBX841.83 Million | GBX551.64 Million | ▼ -11.0 pp |
| 1994 | 57.4% | GBX400.39 Million | GBX697.12 Million | GBX922.72 Million | GBX522.33 Million | ▲ +12.4 pp |
| 1993 | 45.0% | GBX231.50 Million | GBX514.17 Million | GBX933.82 Million | GBX702.33 Million | ▼ -11.5 pp |
| 1992 | 56.5% | GBX310.32 Million | GBX549.35 Million | GBX972.50 Million | GBX662.19 Million | ▼ -21.9 pp |
| 1991 | 78.4% | GBX422.14 Million | GBX538.71 Million | GBX1.17 Billion | GBX746.04 Million | ▲ +5.0 pp |
| 1990 | 73.4% | GBX382.32 Million | GBX521.01 Million | GBX1.12 Billion | GBX735.12 Million | ▼ -2.3 pp |
| 1989 | 75.6% | GBX303.92 Million | GBX401.80 Million | GBX971.12 Million | GBX667.20 Million | ▼ -4.9 pp |
| 1988 | 80.5% | GBX349.21 Million | GBX433.72 Million | GBX886.19 Million | GBX536.98 Million | ▼ -5.0 pp |
| 1987 | 85.5% | GBX381.47 Million | GBX446.29 Million | GBX866.36 Million | GBX484.89 Million | ▲ +7.2 pp |
| 1986 | 78.3% | GBX243.78 Million | GBX311.35 Million | GBX616.63 Million | GBX372.85 Million | ▼ -4.4 pp |
| 1985 | 82.7% | GBX226.18 Million | GBX273.58 Million | GBX436.81 Million | GBX210.62 Million | — |