Smiths Group PLC

SMIN: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Smiths Update: We Increase Our Fair Value Estimate on Back of Interconnect Sale Proceeds

Joachim Kotze

Nov 19, 2025

Smiths' first-quarter 2026 trading update saw organic revenue growth of 3.5%, driven by double-digit growth from detection. The GBP 1.3 billion proceeds from the sale of interconnect will be returned to shareholders via a new GBP 1 billion buyback program to be completed at the end of calendar 2026.

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Smiths Group PLC

Smiths Update: We Increase Our Fair Value Estimate on Back of Interconnect Sale Proceeds

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