# Smiths Group plc (SMIN.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Industrials / Machinery. Price 2617p, market value 7.5 billionp.

## Valuation
- **P/E (trailing): 35.4×**. Smiths Group plc trades at 35.4× trailing earnings. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 22.6×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.81**. A PEG of 1.81 is in the range usually read as fairly priced for its growth.
- **Price / sales: 1.4×**. Each dollar of revenue is priced at 1.4×.
- **Price / book: 5.1×**. The shares trade at 5.1× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 7.8×**. Enterprise value is 7.8× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 9.2%** (5-yr avg 0.0%). Free cash flow equals 9.2% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 2.8%**. The inverse of the P/E: 2.8% of the price is earned each year.

## Profitability
- **Gross margin: 25.4%**. Smiths Group plc keeps 25.4% of revenue after the direct cost of what it sells.
- **Operating margin: 14.6%**. 14.6% of revenue is left after running the business.
- **Net margin: 10.0%**. 10.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 14.3%**. 14.3% on shareholders' equity is solid.
- **Return on invested capital: 22.6%**. Return on all capital, debt included, is 22.6%: comfortably above what that capital costs.
- **Return on assets: 13.9%**. Each dollar of assets produces 13.9% of profit.

## Growth
- **Revenue growth (1 yr): -6.9%** (3-yr 4.3%/yr, 5-yr 2.7%/yr). Revenue fell 6.9% over the last year, against 2.7% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 12.5%** (3-yr 186.3%/yr, 5-yr 35.1%/yr). Earnings per share rose 12.5%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 26.2%/yr**. Free cash flow has compounded at 26.2% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.33**. Debt is 0.33 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 0.5×**. It would take 0.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 5.7×**. Operating profit covers interest 5.7× over, a safe margin.
- **Current ratio: 2.18** (quick 1.56). Current assets cover the next year's liabilities 2.18 times.
- **Altman Z-score: 4.39**. A Z-score of 4.39 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.80%** (0p per share, trailing). Smiths Group plc yields 1.80%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 52%** (44% of free cash flow). 52% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 5.6%/yr** (1-yr 5.1%). The dividend has grown 5.6% a year over five years.
- **Shareholder yield: 11.5%**. Dividends plus net buybacks return 11.5% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (12 analysts). 12 analysts cover Smiths Group plc; the consensus is buy, with an average price target of 2841p (+9% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 9.8%** (YTD 10.0%, 3-mo 3.0%). The shares are up 9.8% over twelve months including dividends.
- **From 52-week high: -5.0%** (25.3% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 1.17** (volatility 24%). Beta of 1.17 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SMIN.L · Page: https://foliofundamentals.com/stocks/smin.l

Not investment advice.