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Smiths Group

BST:QS2A
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QS2A
BST
£4B
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Smiths Group plc operates as a technology company severing the medical technology, security and defense, general industrial, energy, and space and aerospace markets worldwide. The last earnings update was 176 days ago. More info.


Add to Portfolio Compare Print
  • Smiths Group has significant price volatility in the past 3 months.
QS2A Share Price and Events
7 Day Returns
0.9%
BST:QS2A
2.9%
Europe Industrials
-3%
DE Market
1 Year Returns
-29.1%
BST:QS2A
-25%
Europe Industrials
-20.6%
DE Market
QS2A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Smiths Group (QS2A) 0.9% -30.3% - -29.1% - -
Europe Industrials 2.9% -18.2% -33.5% -25% -35.8% -17.1%
DE Market -3% -19.1% -26.2% -20.6% -25.6% -30.7%
1 Year Return vs Industry and Market
  • QS2A underperformed the Industrials industry which returned -25% over the past year.
  • QS2A underperformed the Market in Germany which returned -20.6% over the past year.
Price Volatility
QS2A
Industry
5yr Volatility vs Market

QS2A Value

 Is Smiths Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Smiths Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Smiths Group.

BST:QS2A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BST:QS2A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Industrials Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.844 (1 + (1- 19%) (35.99%))
1.061
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.061 * 6.07%)
6.05%

Discounted Cash Flow Calculation for BST:QS2A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Smiths Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

BST:QS2A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 6.05%)
2020 329.06 Analyst x6 310.29
2021 356.02 Analyst x6 316.56
2022 325.30 Analyst x4 272.76
2023 306.02 Est @ -5.93% 241.96
2024 292.96 Est @ -4.27% 218.42
2025 283.87 Est @ -3.1% 199.57
2026 277.37 Est @ -2.29% 183.88
2027 272.61 Est @ -1.72% 170.42
2028 269.01 Est @ -1.32% 158.57
2029 266.20 Est @ -1.04% 147.97
Present value of next 10 years cash flows £2,220.00
BST:QS2A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £266.20 × (1 + -0.39%) ÷ (6.05% – -0.39%)
£4,118.65
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £4,118.65 ÷ (1 + 6.05%)10
£2,289.41
BST:QS2A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £2,220.00 + £2,289.41
£4,509.41
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £4,509.41 / 396.15
£11.38
BST:QS2A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:QS2A represents 1.1537x of LSE:SMIN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.1537x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (GBP) x Listing Adjustment Factor
= £ 11.38 x 1.1537
€13.13
Value per share (EUR) From above. €13.13
Current discount Discount to share price of €12.24
= -1 x (€12.24 - €13.13) / €13.13
6.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Smiths Group is available for.
Intrinsic value
7%
Share price is €12.24 vs Future cash flow value of €13.13
Current Discount Checks
For Smiths Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Smiths Group's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Smiths Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Smiths Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Smiths Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:QS2A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-07-31) in GBP £0.35
LSE:SMIN Share Price ** LSE (2020-04-03) in GBP £10.61
Europe Industrials Industry PE Ratio Median Figure of 21 Publicly-Listed Industrials Companies 11.8x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Smiths Group.

BST:QS2A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:SMIN Share Price ÷ EPS (both in GBP)

= 10.61 ÷ 0.35

29.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Smiths Group is overvalued based on earnings compared to the Europe Industrials industry average.
  • Smiths Group is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Smiths Group's expected growth come at a high price?
Raw Data
BST:QS2A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 29.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
19.7%per year
Europe Industrials Industry PEG Ratio Median Figure of 10 Publicly-Listed Industrials Companies 1.7x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.18x

*Line of best fit is calculated by linear regression .

BST:QS2A PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 29.99x ÷ 19.7%

1.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Smiths Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Smiths Group's assets?
Raw Data
BST:QS2A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-07-31) in GBP £5.96
LSE:SMIN Share Price * LSE (2020-04-03) in GBP £10.61
Europe Industrials Industry PB Ratio Median Figure of 28 Publicly-Listed Industrials Companies 0.74x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
BST:QS2A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:SMIN Share Price ÷ Book Value per Share (both in GBP)

= 10.61 ÷ 5.96

1.78x

* Primary Listing of Smiths Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Smiths Group is overvalued based on assets compared to the Europe Industrials industry average.
X
Value checks
We assess Smiths Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Industrials industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Industrials industry average (and greater than 0)? (1 check)
  5. Smiths Group has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

QS2A Future Performance

 How is Smiths Group expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Smiths Group expected to grow at an attractive rate?
  • Smiths Group's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Smiths Group's earnings growth is expected to exceed the Germany market average.
  • Smiths Group's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:QS2A Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:QS2A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 19.7%
BST:QS2A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 1.3%
Europe Industrials Industry Earnings Growth Rate Market Cap Weighted Average 15.3%
Europe Industrials Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BST:QS2A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:QS2A Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-07-31 2,804 476 2
2023-07-31 2,580 420 2
2022-07-31 2,551 433 294 6
2021-07-31 2,562 398 267 9
2020-07-31 2,590 413 271 10
2020-04-04
BST:QS2A Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-07-31 2,498 346 140
2019-01-31 3,244 369 293
2018-10-31 3,229 387 285
2018-07-31 2,328 405 117
2018-01-31 3,205 413 372
2017-10-31 3,243 446 471
2017-07-31 3,280 479 570
2017-01-31 3,194 462 432
2016-10-31 3,072 410 346

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Smiths Group's earnings are expected to grow by 19.7% yearly, however this is not considered high growth (20% yearly).
  • Smiths Group's revenue is expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:QS2A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Smiths Group Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:QS2A Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-07-31
2023-07-31
2022-07-31 0.75 0.87 0.62 2.00
2021-07-31 0.80 1.07 0.55 6.00
2020-07-31 0.78 1.02 0.49 7.00
2020-04-04
BST:QS2A Past Financials Data
Date (Data in GBP Millions) EPS *
2019-07-31 0.35
2019-01-31 0.74
2018-10-31 0.72
2018-07-31 0.30
2018-01-31 0.94
2017-10-31 1.19
2017-07-31 1.44
2017-01-31 1.09
2016-10-31 0.87

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Smiths Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Smiths Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Smiths Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

QS2A Past Performance

  How has Smiths Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Smiths Group's growth in the last year to its industry (Industrials).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Smiths Group's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Smiths Group's 1-year earnings growth exceeds its 5-year average (19.7% vs 2.9%)
  • Smiths Group's earnings growth has exceeded the Europe Industrials industry average in the past year (19.7% vs 9.8%).
Earnings and Revenue History
Smiths Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Smiths Group Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:QS2A Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-07-31 2,498.00 140.00 672.00
2019-01-31 3,244.00 293.00 982.00
2018-10-31 3,228.50 285.00 966.00
2018-07-31 2,328.00 117.00 640.00
2018-01-31 3,205.00 372.00 958.00
2017-10-31 3,242.50 471.00 957.00
2017-07-31 3,280.00 570.00 956.00
2017-01-31 3,194.00 432.00 946.00
2016-10-31 3,071.50 345.50 916.50
2016-07-31 2,949.00 259.00 887.00
2016-04-30 2,901.00 274.00 871.50
2016-01-31 2,853.00 289.00 856.00
2015-10-31 2,875.00 267.50 872.00
2015-07-31 2,897.00 246.00 888.00
2015-04-30 2,911.50 235.50 909.00
2015-01-31 2,926.00 225.00 930.00
2014-10-31 2,939.00 229.00 943.50
2014-07-31 2,952.00 233.00 957.00
2014-04-30 3,013.70 260.75 950.20
2014-01-31 3,075.40 288.50 943.40
2013-10-31 3,092.00 301.75 947.25
2013-07-31 3,108.60 315.00 951.10
2013-04-30 3,103.25 304.15 950.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Smiths Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Smiths Group used its assets more efficiently than the Europe Industrials industry average last year based on Return on Assets.
  • Smiths Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Smiths Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Industrials industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Smiths Group has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

QS2A Health

 How is Smiths Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Smiths Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Smiths Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Smiths Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Smiths Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Smiths Group Company Filings, last reported 8 months ago.

BST:QS2A Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-07-31 2,381.00 1,509.00 289.00
2019-01-31 2,169.00 1,418.00 480.00
2018-10-31 2,169.00 1,418.00 480.00
2018-07-31 2,288.00 1,610.00 717.00
2018-01-31 1,966.00 1,552.00 591.00
2017-10-31 1,966.00 1,552.00 591.00
2017-07-31 2,104.00 1,749.00 782.00
2017-01-31 1,832.00 1,451.00 816.00
2016-10-31 1,832.00 1,451.00 816.00
2016-07-31 1,660.00 1,409.00 431.00
2016-04-30 1,660.00 1,409.00 431.00
2016-01-31 1,540.00 1,447.00 461.00
2015-10-31 1,540.00 1,447.00 461.00
2015-07-31 1,428.00 1,313.00 495.00
2015-04-30 1,428.00 1,313.00 495.00
2015-01-31 1,210.00 1,107.00 178.00
2014-10-31 1,210.00 1,107.00 178.00
2014-07-31 1,245.00 994.00 190.00
2014-04-30 1,245.00 994.00 190.00
2014-01-31 1,220.50 1,076.70 175.90
2013-10-31 1,220.50 1,076.70 175.90
2013-07-31 1,493.60 1,138.20 393.80
2013-04-30 1,493.60 1,138.20 393.80
  • Smiths Group's level of debt (63.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (80% vs 63.4% today).
  • Debt is well covered by operating cash flow (22.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.8x coverage).
X
Financial health checks
We assess Smiths Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Smiths Group has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

QS2A Dividends

 What is Smiths Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Smiths Group dividends. Estimated to be 4.24% next year.
If you bought €2,000 of Smiths Group shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Smiths Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Smiths Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:QS2A Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Europe Industrials Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 4.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 318 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BST:QS2A Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2024-07-31 0.55 1.00
2023-07-31 0.49 1.00
2022-07-31 0.49 7.00
2021-07-31 0.48 12.00
2020-07-31 0.39 13.00
2020-04-04
BST:QS2A Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2020-03-31 0.000 0.000
2019-10-11 0.459 3.001
2019-09-20 0.459 2.944
2018-10-12 0.446 3.018
2018-09-21 0.446 3.031
2017-10-10 0.433 2.719
2017-09-22 0.433 2.748
2016-10-13 0.420 2.741
2016-09-28 0.420 2.813
2016-03-16 0.413 3.490
2015-10-15 0.410 4.259
2015-09-23 0.410 4.059
2014-10-13 0.403 3.522
2014-09-17 0.403 3.216
2013-09-19 0.395 2.934
2013-03-20 0.388 2.957
2012-09-19 0.380 3.313
2012-09-18 0.380 3.626
2011-09-28 0.363 3.617
2010-09-29 0.340 2.862
2010-09-28 0.340 2.822
2009-09-30 0.340 3.228

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Smiths Group has not reported any payouts.
  • Unable to verify if Smiths Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Smiths Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Smiths Group has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Smiths Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Smiths Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Smiths Group has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

QS2A Management

 What is the CEO of Smiths Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Andy Smith
COMPENSATION £4,130,000
AGE 52
TENURE AS CEO 4.6 years
CEO Bio

Mr. Andrew Reynolds Smith, also known as Andy, has been Chief Executive and Director of Smiths Group plc since September 25, 2015. Mr. Smith served as the Chief Executive GKN Automotive at GKN plc. He served as an Engineering Director of Alcon Components Limited. He also serves as Vice President of CLEPA (the European Association of Automotive Suppliers). He served as the Chief Executive of Automotive and Powder Metallurgy at GKN plc from October 1, 2011 to September 25, 2015. He served as the Managing Director of Operations for Europe of GKN Driveline at GKN plc since joined in it in 2002. He served as the Chief Executive of Powder Metallurgy, OffHighway & Industrial Services of GKN plc since 2007. He served as a Co-Chief Executive Officer at GKN OffHighway Systems Limited. He served as the Chief Executive Officer of GKN Sinter Metals Inc. since 2004 and served as its President. Prior to GKN, he served various general management and functional positions at Ingersoll Rand, Invensys plc (formerly known as Siebe plc) and Delphi Automotive Systems. He served as a Co-Chief Executive Officer of GKN Land Systems Limited. He served as the Chief Executive Officer of Gkn Driveline International Gmbh and GKN Driveline Headquarters Ltd. He served as an Executive Director of Automotive and Powder Metallurgy since October 2011. He serves as the Chairman of the CBI Manufacturing Council. He served as an Independent Non-Executive Director of Morgan Advanced Materials plc since May 10, 2013 until May 6, 2016. He served as an Executive Director of GKN plc from June 1, 2007 to September 25, 2015. He serves as a Member of the Government Ministerial Advisory Group for Manufacturing and of the British Government’s Green Economy Council. He holds a PhD in Mechanical Engineering.

CEO Compensation
  • Andy's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Andy's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Smiths Group management team in years:

2.3
Average Tenure
  • The tenure for the Smiths Group management team is about average.
Management Team

Andy Smith

TITLE
Chief Executive & Executive Director
COMPENSATION
£4M
AGE
52
TENURE
4.6 yrs

John Shipsey

TITLE
CFO & Director
COMPENSATION
£992K
TENURE
2.3 yrs

Jemma Spalton

TITLE
Director of Investor Relations

Mel Rowlands

TITLE
Group General Counsel
TENURE
2.3 yrs

Craig Barry

TITLE
Vice President of Marketing

Sheena Mackay

TITLE
Group HR Director

Samit Basu

TITLE
Chief Digital Officer

Keir Boxshall

TITLE
Head of Innovation

Roland Carter

TITLE
President of Smiths Detection & Asia Pacific
AGE
52
TENURE
5.5 yrs

Julian David Fagge

TITLE
Director of Group Strategy & M&A and CEO of Flex-Tek
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Smiths Group board of directors in years:

3.6
Average Tenure
63
Average Age
  • The tenure for the Smiths Group board of directors is about average.
Board of Directors

George Buckley

TITLE
Independent Chairman of the Board
COMPENSATION
£489K
AGE
72
TENURE
6.4 yrs

Andy Smith

TITLE
Chief Executive & Executive Director
COMPENSATION
£4M
AGE
52
TENURE
4.6 yrs

John Shipsey

TITLE
CFO & Director
COMPENSATION
£992K
TENURE
2.3 yrs

Bill Seeger

TITLE
Senior Independent Director
COMPENSATION
£213K
AGE
67
TENURE
1.4 yrs

Mark Seligman

TITLE
Independent Non-Executive Director
COMPENSATION
£94K
AGE
63
TENURE
3.9 yrs

Bruno Francois Angelici

TITLE
Independent Non-Executive Director
COMPENSATION
£88K
AGE
72
TENURE
9.8 yrs

Tanya Fratto

TITLE
Independent Non-Executive Director
COMPENSATION
£139K
AGE
58
TENURE
7.8 yrs

Noel Tata

TITLE
Independent Non-Executive Director
COMPENSATION
£143K
AGE
63
TENURE
3.3 yrs

Olivier Bohuon

TITLE
Independent Non-Executive Director
COMPENSATION
£74K
AGE
60
TENURE
1.8 yrs

Dame Dowling

TITLE
Independent Non-Executive Director
COMPENSATION
£60K
AGE
66
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Smiths Group individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
03. Feb 20 Buy George Buckley Individual 03. Feb 20 03. Feb 20 737 €19.95 €14,707
01. Nov 19 Buy George Buckley Individual 01. Nov 19 01. Nov 19 770 €18.82 €14,488
01. Aug 19 Buy George Buckley Individual 01. Aug 19 01. Aug 19 763 €18.00 €13,734
01. May 19 Buy George Buckley Individual 01. May 19 01. May 19 817 €17.81 €14,547
X
Management checks
We assess Smiths Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Smiths Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

QS2A News

Simply Wall St News

QS2A Company Info

Description

Smiths Group plc operates as a technology company severing the medical technology, security and defense, general industrial, energy, and space and aerospace markets worldwide. It operates in five divisions: John Crane, Smiths Medical, Smiths Detection, Smiths Interconnect, and Flex-Tek. The John Crane division offers mechanical seals, seal support systems, hydrodynamic bearings, packing materials, power transmission couplings, and specialized filtration systems. The Smiths Medical division provides specialty medical devices and consumables, including infusion systems, vascular access products, patient airway and temperature management equipment, and specialty devices in the areas of diagnostics and emergency patient transport. It serves hospitals, surgery centers, clinics, and home care providers, as well as other medical device manufacturers. The Smiths Detection division offers sensors and systems that detect and identify explosives, narcotics, weapons, chemical agents, biohazards, and contraband. The Smiths Interconnect division provides specialized electronic and radio frequency board-level and waveguide devices, connectors, cables, test sockets, and sub-systems for applications in the security and defense, medical, general industrial, and space and aerospace markets. The Flex-Tek division offers engineered components that heat and move fluids and gases for the aerospace, medical, industrial, construction, and domestic appliance markets. The company was formerly known as Smiths Industries and changed its name to Smiths Group plc in 2000. Smiths Group plc was founded in 1851 and is headquartered in London, the United Kingdom.

Details
Name: Smiths Group plc
QS2A
Exchange: BST
Founded: 1851
£4,767,962,908
396,152,594
Website: http://www.smiths.com
Address: Smiths Group plc
11-12 St James's Square,
4th Floor,
London,
Greater London, SW1Y 4LB,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE SMIN Ordinary Shares London Stock Exchange GB GBP 02. Jan 1980
OTCPK SMGK.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1980
DB QS2A Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1980
BST QS2A Ordinary Shares Boerse-Stuttgart DE EUR 02. Jan 1980
BATS-CHIXE SMINL Ordinary Shares BATS 'Chi-X Europe' GB GBP 02. Jan 1980
OTCPK SMGZ.Y SPONSORED ADR Pink Sheets LLC US USD 06. Jun 2008
Number of employees
Current staff
Staff numbers
14,000
Smiths Group employees.
Industry
Industrial Conglomerates
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/04 00:53
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2019/10/11
Last earnings reported: 2019/07/31
Last annual earnings reported: 2019/07/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.