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  "documentTitle": "Smiths Group plc (SMIN)",
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  "authorName": "Arnaud Ajdler",
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  "presentationDate": "2025-01-17 00:00:00",
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  "notes": "Includes a peer comparison table, an EV bridge calculation, and a list of peer companies by division.",
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      "text": "Smiths' shareholders. Below is a recent analysis by one of the Company's sell-side analysts, which calculates the SOTP value of Smiths at 2,596 pence, an approximately 50% premium to the current share price.",
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      "text": "John Crane is the crown jewel of the Company, and we believe it would command a significant premium to the Company's trading multiple if it were to be listed as a separate company in the U.S.",
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