A fundamentally strong business
Smiths is a FTSE 100 company with a balanced portfolio of market-leading, industrial technology businesses. Our businesses have leading positions in critical markets, and deliver superior customer service through our global capabilities and sustained investment in R&D.
All of this supported by a robust financial framework with high proportion of recurring revenues through our aftermarket offering, and high and resilient margins.
Supporting a premium rating for Smiths
Building on our strong operational and financial performance, we are pursuing a number of strategic actions to unlock significant value and enhance returns to shareholders:
- We are focussing on our world-class John Crane and Flex-Tek businesses
- In September 2025 we entered into an agreement for the sale of Smiths Interconnect to Molex Electronic Technologies Holdings
- In December 2025 we entered into an agreement for the sale of Smiths Detection to funds advised by CVC Capital Partners
- We will return a large portion of the proceeds to shareholders
We are focusing Smiths as a premium industrial engineering company specialising in flow management and thermal solutions
Significant potential for growth and value creation
Enhanced medium term targets - reflecting further growth and higher return potential
A strong performance in FY2025
Organic revenue growth
Headline operating profit margin (+60bps)
ROCE (+170bps)
Headline EPS growth
Headline operating cash conversion (+2pps)
Total shareholder return