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U.K. (FTSE) Medical Equipment Industry Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies20
  • 7D3.9%
  • 3M5.1%
  • 1Y15.0%
  • YTD5.1%

The Medical Equipment industry is up 1.9% in the last week, with Smith & Nephew up 4.0%. This takes the industry's 12 month performance to a gain of 13%. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

Has the U.K. Medical Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Feb 2026UK£17.2bUK£6.8bUK£500.4m28.1x34.4x2.5x
Sat, 17 Jan 2026UK£16.5bUK£6.9bUK£506.5m28.6x32.6x2.4x
Mon, 15 Dec 2025UK£16.1bUK£6.9bUK£499.8m27.9x32.3x2.3x
Wed, 12 Nov 2025UK£16.7bUK£7.0bUK£508.4m27.5x32.9x2.4x
Fri, 10 Oct 2025UK£17.8bUK£6.9bUK£503.4m28.9x35.3x2.6x
Sun, 07 Sep 2025UK£18.6bUK£6.8bUK£445.2m32.1x41.7x2.7x
Tue, 05 Aug 2025UK£16.2bUK£6.8bUK£392.6m38.5x41.2x2.4x
Thu, 03 Jul 2025UK£16.4bUK£6.6bUK£361.7m45.2x45.2x2.5x
Sat, 31 May 2025UK£16.7bUK£6.7bUK£367.8m38.3x45.4x2.5x
Mon, 28 Apr 2025UK£15.1bUK£6.7bUK£384.7m35.9x39.4x2.3x
Wed, 26 Mar 2025UK£16.2bUK£6.9bUK£405.2m33.1x40.1x2.4x
Fri, 21 Feb 2025UK£15.2bUK£6.8bUK£304.5m37.6x50x2.2x
Sun, 19 Jan 2025UK£15.4bUK£7.0bUK£317.6m37.4x48.4x2.2x
Tue, 17 Dec 2024UK£14.7bUK£6.8bUK£303.5m34.6x48.6x2.2x
Thu, 14 Nov 2024UK£15.0bUK£6.7bUK£300.8m33.9x50x2.2x
Sat, 12 Oct 2024UK£15.6bUK£6.6bUK£291.1m34.1x53.5x2.4x
Mon, 09 Sep 2024UK£16.8bUK£6.5bUK£295.9m37.5x56.9x2.6x
Wed, 07 Aug 2024UK£16.4bUK£6.8bUK£304.5m38.1x53.9x2.4x
Fri, 05 Jul 2024UK£15.8bUK£6.6bUK£248.4m40.7x63.4x2.4x
Sun, 02 Jun 2024UK£15.2bUK£6.6bUK£254.6m33.1x59.9x2.3x
Tue, 30 Apr 2024UK£14.9bUK£6.7bUK£245.8m39x60.5x2.2x
Thu, 28 Mar 2024UK£16.1bUK£6.6bUK£244.5m39.5x65.9x2.4x
Sat, 24 Feb 2024UK£16.1bUK£6.4bUK£146.9m47.9x109.8x2.5x
Mon, 22 Jan 2024UK£15.9bUK£6.4bUK£100.7m44.6x158x2.5x
Wed, 20 Dec 2023UK£15.4bUK£6.4bUK£99.7m48.4x154.2x2.4x
Fri, 17 Nov 2023UK£14.9bUK£6.6bUK£105.2m44.4x141.7x2.3x
Sun, 15 Oct 2023UK£13.6bUK£6.7bUK£93.8m46x144.9x2x
Tue, 12 Sep 2023UK£15.2bUK£6.5bUK£92.0m50.9x164.9x2.3x
Thu, 10 Aug 2023UK£15.8bUK£6.4bUK£87.4m56.9x180.2x2.4x
Sat, 08 Jul 2023UK£15.6bUK£6.3bUK£84.1m58.4x185.1x2.5x
Mon, 05 Jun 2023UK£16.2bUK£6.4bUK£90.7m58.9x178.5x2.5x
Wed, 03 May 2023UK£17.2bUK£6.4bUK£70.7m45.7x243x2.7x
Fri, 31 Mar 2023UK£15.5bUK£6.5bUK£77.2m45x201.4x2.4x
Sun, 26 Feb 2023UK£16.6bUK£6.7bUK£113.3m30.2x146.4x2.5x
Price to Earnings Ratio

146.4x


Total Market Cap: UK£16.6bTotal Earnings: UK£113.3mTotal Revenue: UK£6.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Medical Equipment Industry Price to Earnings3Y Average 88.3x202420252026
Current Industry PE
  • Investors are pessimistic on the British Medical Equipment industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 34.0x which is lower than its 3-year average PE of 88.3x.
  • The industry is trading close to its 3-year average PS ratio of 2.4x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 64% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.K. Healthcare industry?

GB Market1.85%
Healthcare4.47%
Medical Equipment3.85%
Medical Supplies4.05%
Medical Equipment3.76%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 132x.
    • Analysts are expecting annual earnings growth of 15.5%, which is lower than the prior year's growth of 28.1% per year.
  • Investors are most pessimistic about the Medical Supplies industry, which is trading below its 3-year average of 59.9x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 15% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SN. Smith & NephewUK£13.344.0%
+UK£433.4m		30.6%PE31.2x
CTEC Convatec GroupUK£2.314.9%
+UK£210.5m		-5.6%PE28.1x
AMS Advanced Medical Solutions GroupUK£2.180.7%
+UK£3.2m		1.6%PE51.4x
IHC Inspiration Healthcare GroupUK£0.2015.4%
+UK£2.4m		7.6%PS0.4x
ABDX Abingdon HealthUK£0.0658.3%
+UK£2.2m		-13.3%PS3.3x

Latest News

TSTL
UK£4.05
Tristel
7D
-4.5%
1Y
17.4%
SN.
UK£13.34
Smith & Nephew
7D
4.0%
1Y
30.6%

SN.: Collaboration And M&A Focus Will Shape Margins And Operating Leverage

Analysts have made a small upward adjustment to their Smith & Nephew price target to £14.06, with the change reflecting updated assumptions for revenue growth, profit margins and future P/E expectations. What's in the News KARL STORZ North America and Smith & Nephew are collaborating to offer complementary visualization and sports medicine solutions for hospitals and ambulatory surgery centers, targeting multispecialty surgical environments with joint marketing where appropriate (Key Developments).
IHC
UK£0.20
Inspiration Healthcare Group
7D
15.4%
1Y
7.6%
CLBX
UK£0.0097
CelLBxHealth
7D
-7.1%
1Y
-92.5%
CREO
UK£0.17
Creo Medical Group
7D
-2.9%
1Y
4.7%

CREO: Higher Profit Margin Assumptions Will Support Undervalued Long Term Upside

Analysts have modestly reduced their price target on Creo Medical Group to reflect a slightly lower projected revenue growth rate of 73.06% and a lower future P/E of 118.58x, partially offset by a higher anticipated profit margin of 10.96%. Valuation Changes Fair Value: Unchanged at 0.55, indicating no adjustment to the central valuation estimate.
CTEC
UK£2.31
Convatec Group
7D
4.9%
1Y
-5.6%

CTEC: Novo Exit And Renewed Coverage Will Support Future Rerating Potential

Narrative Update Analysts have nudged their fair value estimate for Convatec Group slightly higher to £3.03 from £3.02, citing resumed positive coverage and a higher price target from recent Street research, while also updating assumptions on the discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent Street research has brought fresh attention to Convatec Group, with coverage resuming and the price target adjusted in line with updated assumptions on growth, profitability and valuation multiples.
EMVC
UK£0.57
EMV Capital
7D
1.8%
1Y
17.5%
AMS
UK£2.18
Advanced Medical Solutions Group
7D
0.7%
1Y
1.6%
ABDX
UK£0.065
Abingdon Health
7D
8.3%
1Y
-13.3%
OBI
UK£0.095
Ondine Biomedical
7D
2.7%
1Y
-20.8%
SPEC
UK£0.75
INSPECS Group
7D
-0.7%
1Y
53.1%
AOTI
UK£0.39
AOTI
7D
-7.1%
1Y
-64.5%
EKF
UK£0.26
EKF Diagnostics Holdings
7D
1.6%
1Y
9.9%
FORF
UK£0.077
Fortis Frontier
7D
-8.8%
1Y
-56.9%
NIOX
UK£0.65
NIOX Group
7D
-0.3%
1Y
6.6%