SCOTTS MIRACLE-GRO CO SMG

Healthcare SIC 2870 - Agricultural Chemicals NAICS Manufacturing › Chemical Manufacturing › Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing › Fertilizer and Compost Manufacturing derived NYSE

The discussion below describes the business conducted by The Scotts Miracle-Gro Company, an Ohio corporation ("Scotts Miracle-Gro" and, together with its subsidiaries, the "Company," "we," "our" or "us"), including general developments in our business during fiscal 2025. Each reference in this Annual Report on Form 10-K ("Form 10-K") to a "fiscal" year is to our fiscal year ended or ending, as applicable, on September 30 of the referenced year. For additional information on recent business developments, see "ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS" of this Form 10-K.

Through our U.S. Consumer and Other segments, we are the leading marketer of branded consumer lawn and garden products in North America. Our products are marketed under some of the most recognized brand names in the consumer lawn and garden industry. Our key consumer lawn and garden brands include Scotts® Turf Builder® lawn fertilizer and Scotts® grass seed products; Miracle-Gro® soil, plant food and gardening products; Ortho® herbicide and pesticide products; and Tomcat® rodent control and animal repellent products. We are the exclusive agent of Monsanto Company, a subsidiary of Bayer AG ("Monsanto"), for the marketing and distribution of certain of Monsanto's consumer Roundup®1 branded products within the United States ("U.S.") and certain other specified countries. In addition, we have an equity interest in Bonnie Plants, LLC, a joint venture with Alabama Farmers Cooperative, Inc. ("AFC"), focused on planting, growing, developing, distributing, marketing and selling live plants.

Last close 59.29 2026-10-23
Market cap $3.45B 2026-06-27 share count
52-week range 47.90 - 75.34

Valuation FY2025 figures against the last close

P/S1.0x
P/E24.0x
P/FCF12.6x
EV/EBITDA13.1x
Dividend yield4.5%
Diluted EPS2.47

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • International
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 3.1B (91.8%) 92% United States International, FY2025: 278.6M (8.2%) 8% FY2024 United States, FY2024: 3.2B (91.4%) 91% International, FY2024: 304.9M (8.6%) 9% FY2023 United States, FY2023: 3.2B (90.4%) 90% International, FY2023: 341.8M (9.6%) 10%
Region FY2025FY2024FY2023
United States $3.13B $3.25B $3.21B
International $278.6M $304.9M $341.8M

As the company reported it, from the “SEGMENT INFORMATION - Net sales and long-lived assets by geographic area (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.41B$3.55B$3.55B$3.92B$4.92B$4.13B$3.16B$2.66B$2.64B$2.51B
Cost of revenue $2.35B$2.62B$2.71B$2.89B$3.43B$2.77B$2.13B$1.78B$1.67B$1.60B
Gross profit $1.04B$850.5M$657.3M$872.9M$1.47B$1.35B$1.02B$864.6M$972.6M$900.3M
R&D $34.8M$34.6M$35.7M$45.3M$45.4M$39.7M$39.6M$42.5M$39.9M$36.0M
SG&A $603.4M$559.0M$551.3M$613.0M$743.5M$757.8M$601.3M$540.1M$550.9M$518.0M
Operating income $358.6M$208.8M-$174.4M-$434.0M$723.0M$585.2M$409.6M$198.9M$433.4M$447.6M
Interest expense $128.8M$158.8M$178.1M$118.1M$78.9M$79.6M$101.8M$86.4M$76.1M$62.9M
Pre-tax income $221.7M-$23.6M-$453.3M-$558.1M$677.1M$510.6M$581.6M$115.7M$314.9M$383.7M
Income tax $76.5M$11.3M$73.2M$120.6M$159.8M$123.7M$144.9M$11.9M$116.6M$137.6M
Net income $145.2M-$34.9M-$380.1M-$437.5M$512.5M$387.4M$460.7M$63.7M$218.3M$315.3M
EPS, basic 2.52-0.61-6.79-7.889.206.968.301.133.685.16
EPS, diluted 2.47-0.61-6.79-7.888.966.818.181.123.635.09
Shares, diluted (wtd. avg.) 58.7M56.8M56.0M55.5M57.2M56.9M56.3M57.1M60.2M62.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $36.6M$71.6M$31.9M$86.8M$244.1M$16.6M$18.8M$33.9M$120.5M$28.6M
Receivables $186.9M$176.8M$304.2M$299.0M$483.4M$474.8M$223.9M$226.0M$197.7M$127.0M
Inventory $592.8M$587.5M$880.3M$1.34B$1.13B$621.9M$540.3M$481.4M$407.5M$394.7M
Total current assets $940.3M$980.4M$1.40B$1.98B$2.02B$1.22B$1.04B$885.7M$881.7M$1.03B
Property, plant and equipment $631.6M$609.5M$610.3M$606.0M$622.2M—$546.0M$530.8M$467.7M$444.9M
Goodwill $243.9M$243.9M$243.9M$254.0M$605.2M$544.1M$538.7M$543.0M$441.6M$371.9M
Other intangibles $401.8M$418.8M$436.7M$580.2M$709.6M$679.2M$707.5M$857.3M$748.9M$690.0M
Total assets $2.74B$2.87B$3.41B$4.30B$4.80B$3.38B$3.03B$3.05B$2.75B$2.76B
Accounts payable $229.2M$254.7M$271.2M$422.6M$609.4M$391.0M$214.2M$150.5M$153.1M$131.2M
Short-term debt $57.2M$52.6M$52.3M$144.3M$57.8M$66.4M$128.1M$132.6M$143.1M$185.0M
Total current liabilities $739.7M$750.3M$773.7M$963.9M$1.14B$950.4M$620.5M$612.7M$544.5M$707.1M
Long-term debt $2.05B$2.17B$2.56B$2.83B$2.24B$1.46B$1.52B$1.88B$1.26B$1.03B
Total liabilities $3.10B$3.26B$3.68B$4.15B$3.79B$2.68B$2.31B$2.69B$2.09B$2.02B
Retained earnings $294.7M$303.8M$490.9M$1.02B$1.61B$1.24B$1.27B$919.9M$978.2M$881.8M
Total equity -$357.5M-$390.6M-$267.3M$147.7M$1.01B$702.9M$723.2M$359.6M$661.7M$734.3M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $371.3M$667.5M$531.0M-$129.0M$271.5M$558.0M$226.8M$342.5M$363.2M$244.0M
Depreciation and amortisation $62.7M$64.9M$67.3M$68.1M$62.9M$62.2M$55.9M$53.4M$55.1M$53.8M
Stock-based compensation $69.0M$80.4M$68.9M$34.3M$40.6M$57.9M$38.4M$40.4M$25.2M$15.6M
Capital expenditure $97.4M$84.0M$92.8M$113.5M$106.9M$62.7M$42.4M$68.2M$69.6M$58.3M
Investing cash flow -$112.1M-$100.4M-$65.7M-$283.2M-$538.6M$46.9M$255.2M-$580.7M$22.4M-$134.4M
Financing cash flow -$294.0M-$527.9M-$520.1M$255.3M$494.0M-$607.1M-$496.5M$151.2M-$316.8M-$128.8M
Dividends paid $154.3M$151.3M$149.1M$166.2M$143.0M$411.2M$124.5M$120.0M$120.3M$116.6M
Buybacks $18.4M$5.1M$9.3M$257.9M$129.3M$53.2M$3.1M$327.7M$255.2M$137.4M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000825542-25-000022.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 2.5B Gross profit, FY2016: 900.3M Net income, FY2016: 315.3M Revenue, FY2017: 2.6B Gross profit, FY2017: 972.6M Net income, FY2017: 218.3M Revenue, FY2018: 2.7B Gross profit, FY2018: 864.6M Net income, FY2018: 63.7M Revenue, FY2019: 3.2B Gross profit, FY2019: 1B Net income, FY2019: 460.7M Revenue, FY2020: 4.1B Gross profit, FY2020: 1.3B Net income, FY2020: 387.4M Revenue, FY2021: 4.9B Gross profit, FY2021: 1.5B Net income, FY2021: 512.5M Revenue, FY2022: 3.9B Gross profit, FY2022: 872.9M Net income, FY2022: -437.5M Revenue, FY2023: 3.6B Gross profit, FY2023: 657.3M Net income, FY2023: -380.1M Revenue, FY2024: 3.6B Gross profit, FY2024: 850.5M Net income, FY2024: -34.9M Revenue, FY2025: 3.4B Gross profit, FY2025: 1B Net income, FY2025: 145.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.51B $2.64B $2.66B $3.16B $4.13B $4.92B $3.92B $3.55B $3.55B $3.41B
Gross profit $900.3M $972.6M $864.6M $1.02B $1.35B $1.47B $872.9M $657.3M $850.5M $1.04B
Net income $315.3M $218.3M $63.7M $460.7M $387.4M $512.5M -$437.5M -$380.1M -$34.9M $145.2M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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