• Smith & Nephew SNATS average return on tangible equity for 2013 was 32.88, a 13.08% increase from 2012.
• Smith & Nephew SNATS average return on tangible equity for 2012 was 37.83, a 17.58% decline from 2011.
• Smith & Nephew SNATS average return on tangible equity for 2011 was 45.9, a 38.89% decline from 2010.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.