MDT vs. SNN: Medtronic vs. Smith & Nephew Stock Comparison

November 11, 2026

How do Medtronic (MDT) 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

Medtronic (MDT) and Smith & Nephew (SNN) are both classified in the Health Care Equipment sub-industry within the broader Health Care Equipment & Supplies industry, placing them in the closest GICS peer bucket.

Medtronic (MDT) 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 Medtronic (MDT) and Smith & Nephew (SNN)
Profile Item	MDT	SNN
Name	Medtronic plc	Smith & Nephew plc Sponsored ADR
Country/Region	Ireland	United Kingdom
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Equipment & Supplies
GICS Sub-Industry	Health Care Equipment	Health Care Equipment
Market Capitalization	130.22 billion USD	13.04 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 2, 1973	November 16, 1999
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

MDT

SNN

GSPC

Medtronic (MDT) 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 Medtronic (MDT) and Smith & Nephew (SNN). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
Total Return (1Y)	15.72%	-4.20%
Total Return (3Y, Annualized)	17.58%	11.34%
Total Return (5Y, Annualized)	-0.18%	-0.34%

Risk Profile

Drawdown History

MDT

SNN

GSPC

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

Risk Metrics

Risk profile metrics for Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
Volatility (1Y, Annualized)	25.84%	27.31%
Beta (5Y)	0.53	0.49
Max Drawdown (5Y)	-39.67%	-38.80%
Avg. Volume (3M)	16.48M	1.49M

Risk-Adjusted Performance

Risk-Return Positioning

MDT 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 Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
Sharpe Ratio (1Y)	0.44	-0.31
Sortino Ratio (1Y)	0.71	-0.46

Profitability

ROE (TTM)

Both Medtronic (MDT) at 10.65% 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.

MDT

Health Care Equipment & Services industry group

10.65%

Max: 47.61%
Q3: 14.36%
MDT: 10.65%
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%

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

Net Margin (TTM)

For every dollar of sales, both Medtronic (MDT) at 13.93% and Smith & Nephew (SNN) at 10.08% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

MDT

Health Care Equipment & Services industry group

13.93%

Max: 29.35%
MDT: 13.93%
Q3: 9.33%
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%

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

Operating Margin (TTM)

Both Medtronic (MDT) at 19.33% and Smith & Nephew (SNN) at 14.47% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

MDT

Health Care Equipment & Services industry group

19.33%

Max: 35.43%
MDT: 19.33%
Q3: 14.14%
Median: 6.81%
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%

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

Profitability Metrics

Profitability metrics for Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
ROE (TTM)	10.65%	11.85%
ROA (TTM)	5.12%	5.16%
Net Margin (TTM)	13.93%	10.08%
Operating Margin (TTM)	19.33%	14.47%
Gross Margin (TTM)	65.27%	68.44%

Growth

Revenue Growth

Both Medtronic (MDT) at 8.43% 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.

Medtronic (MDT) 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 Medtronic (MDT) at 3.32% is closer to the peer norm — faster per-share earnings growth for SNN.

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

Growth Metrics

Growth metrics for Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
Revenue Growth (YoY)	8.43%	6.09%
Revenue Growth (3Y CAGR)	5.21%	5.73%
EPS Growth (YoY)	3.32%	52.34%
EPS Growth (3Y CAGR)	9.77%	42.01%

Financial Strength

Current Ratio (MRQ)

Both Medtronic (MDT) at 2.07 and Smith & Nephew (SNN) at 2.14 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

MDT

Health Care Equipment & Services industry group

2.07

Max: 7.59
Q3: 4.00
MDT: 2.07
Median: 1.98
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

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

Debt / Equity (MRQ)

Both Medtronic (MDT) at 0.55 and Smith & Nephew (SNN) at 0.73 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

MDT

Health Care Equipment & Services industry group

0.55

Max: 1.88
Q3: 0.91
Median: 0.58
MDT: 0.55
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

Medtronic (MDT) 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 Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
Current Ratio (MRQ)	2.07	2.14
Debt / Equity (MRQ)	0.55	0.73
Net Debt / EBITDA	1.86	2.19

Dividends

Dividend Yield (TTM)

Both Medtronic (MDT) at 2.72% 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.

MDT

Health Care Equipment & Services industry group

2.72%

MDT: 2.72%
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%

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

Dividend Payout Ratio (TTM)

Both Medtronic (MDT) at 70.02% 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.

MDT

Health Care Equipment & Services industry group

70.02%

MDT: 70.02%
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%

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

Dividend Metrics

Dividend metrics for Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
Dividend Yield (TTM)	2.72%	1.24%
Dividend Payout Ratio (TTM)	70.02%	53.20%

Valuation

P/E Ratio (TTM)

Both Medtronic (MDT) at 25.01 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.

MDT

Health Care Equipment & Services industry group

25.01

Max: 80.41
Q3: 47.62
Median: 29.93
MDT: 25.01
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

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

P/S Ratio (TTM)

On P/S ratio, both Medtronic (MDT) at 3.47 and Smith & Nephew (SNN) at 2.07 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

MDT

Health Care Equipment & Services industry group

3.47

Max: 8.80
Q3: 4.32
MDT: 3.47
Median: 2.13
Q1: 1.10
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

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

P/B Ratio (MRQ)

Medtronic (MDT) at 2.59 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.

MDT

Health Care Equipment & Services industry group

2.59

Max: 11.68
Q3: 6.12
Median: 3.00
MDT: 2.59
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

Medtronic (MDT) 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 Medtronic (MDT) and Smith & Nephew (SNN)
Metric	MDT	SNN
P/E Ratio (TTM)	25.01	21.19
P/S Ratio (TTM)	3.47	2.07
P/B Ratio (MRQ)	2.59	12.80
Free Cash Flow Yield (TTM)	4.16%	8.12%