Smiths Group PLC

Latest Results (16.11.2025):

The FY2025 Annual Report for Smiths Group PLC demonstrates a robust financial performance over the past fiscal year, marked by strong organic revenue growth, improved operating margins, and solid earnings per share. The report highlights a resilient strategy and disciplined capital allocation that have driven value creation despite global economic uncertainties, positioning the company well for its near‐term outlook.

Strong Organic Revenue Growth

For FY2025, Smiths Group PLC delivered +8.9% organic revenue growth at the Group level, with continued momentum evident across its key business segments. This performance exceeded the twice-raised guidance and underscores the effectiveness of the company’s strategic initiatives.

Improved Operating Profit & Margins

The company achieved an operating profit margin of 17.4% at the Group level—a 60bps improvement from the previous year—while operating profit increased from £526m to £580m. Additionally, Basic EPS rose by 14.8% to 121.2p, reflecting enhanced profitability and operational efficiency in an increasingly challenging market.

Robust Cash Conversion & Capital Allocation

Smiths Group PLC reported an operating cash conversion of 99% and advanced its capital allocation strategy with significant progress on its share buyback programme (£398m of a £500m target completed) and accretive acquisitions. These efforts have reinforced the company's balance sheet strength and commitment to shareholder returns.

Strategic Actions & Future Outlook

Under its Acceleration Plan, the company is executing cost reduction initiatives and strategic divestments, such as the separation of Smiths Interconnect and Smiths Detection, to further enhance margins and earnings. Looking ahead to FY2026, Smiths Group PLC expects organic revenue growth between 4–6% and continued margin expansion, highlighting a confident medium-term outlook.