ELV vs. SNN: Elevance Health vs. Smith & Nephew Stock Comparison

November 11, 2026

How do Elevance Health (ELV) and Smith & Nephew (SNN) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Elevance Health (ELV) and Smith & Nephew (SNN) both fall under the Health Care Equipment & Services industry group, but ELV is classified in Health Care Providers & Services while SNN is classified in Health Care Equipment & Supplies.

Elevance Health (ELV) trades as ordinary local shares, while Smith & Nephew (SNN) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Elevance Health (ELV) and Smith & Nephew (SNN)
Profile Item	ELV	SNN
Name	Elevance Health, Inc.	Smith & Nephew plc Sponsored ADR
Country/Region	United States	United Kingdom
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Providers & Services	Health Care Equipment & Supplies
GICS Sub-Industry	Managed Health Care	Health Care Equipment
Market Capitalization	91.96 billion USD	13.04 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	October 30, 2001	November 16, 1999
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

ELV

SNN

GSPC

Elevance Health (ELV) vs. Smith & Nephew (SNN), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Elevance Health (ELV) and Smith & Nephew (SNN). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Elevance Health (ELV) and Smith & Nephew (SNN). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
Total Return (1Y)	35.51%	-4.20%
Total Return (3Y, Annualized)	-0.68%	11.34%
Total Return (5Y, Annualized)	1.10%	-0.34%

Risk Profile

Drawdown History

ELV

SNN

GSPC

Elevance Health (ELV) vs. Smith & Nephew (SNN), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Elevance Health (ELV) and Smith & Nephew (SNN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
Volatility (1Y, Annualized)	35.05%	27.31%
Beta (5Y)	0.61	0.49
Max Drawdown (5Y)	-50.38%	-38.80%
Avg. Volume (3M)	1.19M	1.49M

Risk-Adjusted Performance

Risk-Return Positioning

ELV and SNN are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
Sharpe Ratio (1Y)	0.89	-0.31
Sortino Ratio (1Y)	1.25	-0.46

Profitability

ROE (TTM)

Both Elevance Health (ELV) at 11.48% and Smith & Nephew (SNN) at 11.85% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

ELV

Health Care Equipment & Services industry group

11.48%

Max: 47.61%
Q3: 14.36%
ELV: 11.48%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

SNN

Health Care Equipment & Services industry group

11.85%

Max: 47.61%
Q3: 14.36%
SNN: 11.85%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Smith & Nephew (SNN) at 10.08% retains a top-quartile share of revenue as profit, ahead of Elevance Health (ELV) at 2.55%, which keeps about the industry-typical share.

ELV

Health Care Equipment & Services industry group

2.55%

Max: 29.35%
Q3: 9.33%
ELV: 2.55%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

SNN

Health Care Equipment & Services industry group

10.08%

Max: 29.35%
SNN: 10.08%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

Smith & Nephew (SNN) at 14.47% operates in the top operating margin quartile, ahead of Elevance Health (ELV) at 4.22%, which runs around its industry’s norm.

ELV

Health Care Equipment & Services industry group

4.22%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
ELV: 4.22%
Q1: -0.28%
Min: -16.29%

SNN

Health Care Equipment & Services industry group

14.47%

Max: 35.43%
SNN: 14.47%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
ROE (TTM)	11.48%	11.85%
ROA (TTM)	4.01%	5.16%
Net Margin (TTM)	2.55%	10.08%
Operating Margin (TTM)	4.22%	14.47%
Gross Margin (TTM)	26.43%	68.44%

Growth

Revenue Growth

Both Elevance Health (ELV) at 12.62% and Smith & Nephew (SNN) at 6.09% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Smith & Nephew (SNN) at 52.34% sits in the top EPS growth quartile, while Elevance Health (ELV) at -1.83% is closer to the peer norm — faster per-share earnings growth for SNN.

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
Revenue Growth (YoY)	12.62%	6.09%
Revenue Growth (3Y CAGR)	8.34%	5.73%
EPS Growth (YoY)	-1.83%	52.34%
EPS Growth (3Y CAGR)	0.53%	42.01%

Financial Strength

Current Ratio (MRQ)

Both Elevance Health (ELV) at 1.47 and Smith & Nephew (SNN) at 2.14 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

ELV

Health Care Equipment & Services industry group

1.47

Max: 7.59
Q3: 4.00
Median: 1.98
ELV: 1.47
Q1: 1.37
Min: 0.30

SNN

Health Care Equipment & Services industry group

2.14

Max: 7.59
Q3: 4.00
SNN: 2.14
Median: 1.98
Q1: 1.37
Min: 0.30

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

Both Elevance Health (ELV) at 0.69 and Smith & Nephew (SNN) at 0.73 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

ELV

Health Care Equipment & Services industry group

0.69

Max: 1.88
Q3: 0.91
ELV: 0.69
Median: 0.58
Q1: 0.16
Min: 0.00

SNN

Health Care Equipment & Services industry group

0.73

Max: 1.88
Q3: 0.91
SNN: 0.73
Median: 0.58
Q1: 0.16
Min: 0.00

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
Current Ratio (MRQ)	1.47	2.14
Debt / Equity (MRQ)	0.69	0.73
Net Debt / EBITDA	-0.81	2.19

Dividends

Dividend Yield (TTM)

Both Elevance Health (ELV) at 1.59% and Smith & Nephew (SNN) at 1.24% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

ELV

Health Care Equipment & Services industry group

1.59%

ELV: 1.59%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

SNN

Health Care Equipment & Services industry group

1.24%

SNN: 1.24%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Elevance Health (ELV) at 29.17% and Smith & Nephew (SNN) at 53.20% pay out more of their earnings than any of their industry peers — the thinnest cover in their groups, so dividend headroom deserves attention.

ELV

Health Care Equipment & Services industry group

29.17%

ELV: 29.17%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

SNN

Health Care Equipment & Services industry group

53.20%

SNN: 53.20%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
Dividend Yield (TTM)	1.59%	1.24%
Dividend Payout Ratio (TTM)	29.17%	53.20%

Valuation

P/E Ratio (TTM)

Elevance Health (ELV) at 18.07 sits in the cheaper P/E ratio quartile, while Smith & Nephew (SNN) at 21.19 is closer to its industry’s usual earnings multiple — a discount for ELV, though growth and earnings durability still matter.

ELV

Health Care Equipment & Services industry group

18.07

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
ELV: 18.07
Min: 4.21

SNN

Health Care Equipment & Services industry group

21.19

Max: 80.41
Q3: 47.62
Median: 29.93
SNN: 21.19
Q1: 21.19
Min: 4.21

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their P/E ratio against the Health Care Equipment & Services industry group benchmark.

P/S Ratio (TTM)

Elevance Health (ELV) at 0.46 sits in the cheaper P/S ratio quartile while Smith & Nephew (SNN) at 2.07 prices around its industry’s middle — ELV costs less per dollar of sales, though read it alongside growth and margins.

ELV

Health Care Equipment & Services industry group

0.46

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
ELV: 0.46
Min: 0.03

SNN

Health Care Equipment & Services industry group

2.07

Max: 8.80
Q3: 4.32
Median: 2.13
SNN: 2.07
Q1: 1.10
Min: 0.03

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

Elevance Health (ELV) at 2.06 sits near its industry’s typical P/B ratio, while Smith & Nephew (SNN) at 12.80 prices above its benchmark range — SNN looks rich relative to book.

ELV

Health Care Equipment & Services industry group

2.06

Max: 11.68
Q3: 6.12
Median: 3.00
ELV: 2.06
Q1: 1.73
Min: -1.31

SNN

Health Care Equipment & Services industry group

12.80

SNN: 12.80
Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31

Elevance Health (ELV) vs. Smith & Nephew (SNN): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Elevance Health (ELV) and Smith & Nephew (SNN)
Metric	ELV	SNN
P/E Ratio (TTM)	18.07	21.19
P/S Ratio (TTM)	0.46	2.07
P/B Ratio (MRQ)	2.06	12.80
Free Cash Flow Yield (TTM)	8.69%	8.12%