Smith & Nephew PLC (SN) — Working Capital to Net Assets Ratio
Smith & Nephew PLC (SN) has a Working Capital to Net Assets ratio of 45.1% as of June 2026. Working capital of GBX2.35 Billion (current assets of GBX4.41 Billion minus current liabilities of GBX2.06 Billion) is measured against net assets of GBX5.21 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Smith & Nephew PLC (SN) defensive interval to measure how many days the company can operate on defensive assets alone.
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 June 2026, the ratio stands at 45.1%, reflecting working capital of GBX2.35 Billion against net assets of GBX5.21 Billion GBX. For the complete balance sheet picture, see how large is Smith & Nephew PLC's balance sheet.
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. Check Smith & Nephew PLC (SN) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
| 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 | — |