MCK vs. SNN: McKesson vs. Smith & Nephew Stock Comparison

November 11, 2026

How do McKesson (MCK) 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

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

McKesson (MCK) 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 McKesson (MCK) and Smith & Nephew (SNN)
Profile Item	MCK	SNN
Name	McKesson Corporation	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	Health Care Distributors	Health Care Equipment
Market Capitalization	122.48 billion USD	13.04 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	November 10, 1994	November 16, 1999
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

MCK

SNN

GSPC

McKesson (MCK) 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 McKesson (MCK) and Smith & Nephew (SNN). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
Total Return (1Y)	25.40%	-4.20%
Total Return (3Y, Annualized)	32.67%	11.34%
Total Return (5Y, Annualized)	37.84%	-0.34%

Risk Profile

Drawdown History

MCK

SNN

GSPC

McKesson (MCK) 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 McKesson (MCK) and Smith & Nephew (SNN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
Volatility (1Y, Annualized)	31.71%	27.31%
Beta (5Y)	0.26	0.49
Max Drawdown (5Y)	-27.17%	-38.80%
Avg. Volume (3M)	822.69K	1.49M

Risk-Adjusted Performance

Risk-Return Positioning

MCK 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 McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
Sharpe Ratio (1Y)	0.67	-0.31
Sortino Ratio (1Y)	1.15	-0.46

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Smith & Nephew (SNN) earns 11.85% on shareholders’ equity, ranked against its industry; McKesson (MCK) has no ROE this period.

MCK

Health Care Equipment & Services industry group

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

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%

McKesson (MCK) vs. Smith & Nephew (SNN): MCK does not report ROE, so it has no value marker; SNN is benchmarked against the Health Care Equipment & Services industry group.

Net Margin (TTM)

Smith & Nephew (SNN) at 10.08% retains a top-quartile share of revenue as profit, ahead of McKesson (MCK) at 1.12%, which keeps about the industry-typical share.

MCK

Health Care Equipment & Services industry group

1.12%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
MCK: 1.12%
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%

McKesson (MCK) 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 McKesson (MCK) at 1.48%, which runs around its industry’s norm.

MCK

Health Care Equipment & Services industry group

1.48%

Max: 35.43%
Q3: 14.14%
Median: 6.81%
MCK: 1.48%
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%

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

Profitability Metrics

Profitability metrics for McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
ROE (TTM)	--	11.85%
ROA (TTM)	4.72%	5.16%
Net Margin (TTM)	1.12%	10.08%
Operating Margin (TTM)	1.48%	14.47%
Gross Margin (TTM)	3.65%	68.44%

Growth

Revenue Growth

Both McKesson (MCK) at 12.36% 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.

McKesson (MCK) vs. Smith & Nephew (SNN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both McKesson (MCK) at 49.22% and Smith & Nephew (SNN) at 52.34% sit in the top peer quartile for EPS growth, so each is compounding per-share earnings faster than typical industry peers.

McKesson (MCK) vs. Smith & Nephew (SNN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
Revenue Growth (YoY)	12.36%	6.09%
Revenue Growth (3Y CAGR)	13.39%	5.73%
EPS Growth (YoY)	49.22%	52.34%
EPS Growth (3Y CAGR)	15.31%	42.01%

Financial Strength

Current Ratio (MRQ)

Smith & Nephew (SNN) at 2.14 keeps current ratio within its industry’s typical mid-range, while McKesson (MCK) at 0.90 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for MCK.

MCK

Health Care Equipment & Services industry group

0.90

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
MCK: 0.90
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

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

Debt / Equity (MRQ)

Only one side’s leverage can be read here: Smith & Nephew (SNN) carries debt-to-equity ratio of 0.73 against its industry range, while McKesson (MCK) reports no figure this period.

MCK

Health Care Equipment & Services industry group

Max: 1.88
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00
MCK: --

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

McKesson (MCK) vs. Smith & Nephew (SNN): MCK does not report debt-to-equity ratio, so it has no value marker; SNN is benchmarked against the Health Care Equipment & Services industry group.

Financial Strength Metrics

Financial strength metrics for McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
Current Ratio (MRQ)	0.90	2.14
Debt / Equity (MRQ)	--	0.73
Net Debt / EBITDA	0.64	2.19

Dividends

Dividend Yield (TTM)

Both McKesson (MCK) at 0.32% 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.

MCK

Health Care Equipment & Services industry group

0.32%

MCK: 0.32%
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%

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

Dividend Payout Ratio (TTM)

Both McKesson (MCK) at 8.77% 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.

MCK

Health Care Equipment & Services industry group

8.77%

MCK: 8.77%
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%

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

Dividend Metrics

Dividend metrics for McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
Dividend Yield (TTM)	0.32%	1.24%
Dividend Payout Ratio (TTM)	8.77%	53.20%

Valuation

P/E Ratio (TTM)

Both McKesson (MCK) at 27.36 and Smith & Nephew (SNN) at 21.19 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

MCK

Health Care Equipment & Services industry group

27.36

Max: 80.41
Q3: 47.62
Median: 29.93
MCK: 27.36
Q1: 21.19
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

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

P/S Ratio (TTM)

McKesson (MCK) at 0.29 sits in the cheaper P/S ratio quartile while Smith & Nephew (SNN) at 2.07 prices around its industry’s middle — MCK costs less per dollar of sales, though read it alongside growth and margins.

MCK

Health Care Equipment & Services industry group

0.29

Max: 8.80
Q3: 4.32
Median: 2.13
Q1: 1.10
MCK: 0.29
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

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

P/B Ratio (MRQ)

McKesson (MCK) reports a negative P/B ratio of -30.85, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Smith & Nephew (SNN) reports 12.80, ranking against industry peers normally.

MCK

Health Care Equipment & Services industry group

-30.85

Max: 11.68
Q3: 6.12
Median: 3.00
Q1: 1.73
Min: -1.31
MCK: -30.85

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

McKesson (MCK) 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 McKesson (MCK) and Smith & Nephew (SNN)
Metric	MCK	SNN
P/E Ratio (TTM)	27.36	21.19
P/S Ratio (TTM)	0.29	2.07
P/B Ratio (MRQ)	-30.85	12.80
Free Cash Flow Yield (TTM)	6.04%	8.12%