Smith & Nephew vs Steris
Smith & Nephew reported revenue of $6.2 billion in fiscal 2025, about the same as Steris' $5.9 billion in fiscal 2026. Smith & Nephew's revenue grew 6.1% in its latest year, and Steris' grew 8.7%. Smith & Nephew had an operating margin of 12.9%, against 18.6% at Steris. Free cash flow was $852 million at Smith & Nephew and $972 million at Steris. Their fiscal years end in different months (December 31 and March 31), so the periods don't line up exactly.
Side by side
| Smith & Nephew | Steris | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Mar 31, 2026 |
| Revenue | $6.2B | $5.9B |
| Revenue growth | 6.1% | 8.7% |
| Revenue growth a year, last 5 years | 6.2% | 13.8% |
| Gross margin | 68.0% | 44.2% |
| Operating margin | 12.9% | 18.6% |
| Net margin | 10.1% | 13.2% |
| Free cash flow | $852M | $972M |
| Free cash flow margin | 13.8% | 16.4% |
| Return on capital | — | 9.6% |
| Net debt to EBITDA | — | 0.9x |
| Dividends and buybacks | $832M | $477M |
| Change in diluted share count | −0.3% | −0.4% |
| Last close | $30.47 | $230.12 |
| P/E at the last close | — | 28.1× |
| Insider trades, last 12 months | — | sold $9.8 million |
| Piotroski F-score | — | 9 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Smith & NephewSteris
Operating margin
Percent of revenue
Smith & NephewSteris
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Smith & NephewSteris
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Smith & Nephew and Steris pages.