Scotts Miracle-Gro (SMG) financial statements
Scotts Miracle-Gro reported revenue of $3.4B in fiscal 2025, up 3.5% a year over 9 years.
Net income was $145M and the operating margin 10.5%, against 17.9% in 2016.
Free cash flow was $274M, and the company returned $154M in dividends and $18M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Scotts Miracle-Gro's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B | $2.6B | $2.7B | $3.2B | $4.1B | $4.9B | $3.9B | $3.6B | $3.6B | $3.4B |
| Cost of revenue | $1.6B | $1.7B | $1.8B | $2.1B | $2.8B | $3.4B | $2.9B | $2.7B | $2.6B | $2.3B |
| Gross profit | $900M | $973M | $865M | $1.0B | $1.3B | $1.5B | $873M | $657M | $850M | $1.0B |
| Research and development | $36M | $40M | $42M | $40M | $40M | $45M | $45M | $36M | $35M | $35M |
| Selling, general and admin | $518M | $551M | $540M | $601M | $758M | $744M | $613M | $551M | $559M | $603M |
| Operating income | $448M | $433M | $199M | $410M | $585M | $723M | -$434M | -$174M | $209M | $359M |
| Interest expense | $63M | $76M | $86M | $102M | $80M | $79M | $118M | $178M | $159M | $129M |
| Pre-tax income | $384M | $315M | $116M | $582M | $511M | $677M | -$558M | -$453M | -$24M | $222M |
| Income tax | $138M | $117M | -$12M | $145M | $124M | $160M | -$121M | -$73M | $11M | $76M |
| Net income | $315M | $218M | $64M | $461M | $387M | $512M | -$438M | -$380M | -$35M | $145M |
| EPS (diluted) | $5.09 | $3.63 | $1.12 | $8.18 | $6.81 | $8.96 | -$7.88 | -$6.79 | -$0.61 | $2.47 |
| Diluted shares | 62M | 60M | 57M | 56M | 57M | 57M | 56M | 56M | 57M | 59M |
| Gross margin | 35.9% | 36.8% | 32.5% | 32.3% | 32.6% | 29.8% | 22.2% | 18.5% | 23.9% | 30.6% |
| Operating margin | 17.9% | 16.4% | 7.5% | 13.0% | 14.2% | 14.7% | -11.1% | -4.9% | 5.9% | 10.5% |
| Net margin | 12.6% | 8.3% | 2.4% | 14.6% | 9.4% | 10.4% | -11.1% | -10.7% | -1.0% | 4.3% |
Balance sheet
Fiscal years, from Scotts Miracle-Gro's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $29M | $120M | $34M | $19M | $17M | $244M | $87M | $32M | $72M | $33M |
| Receivables | $127M | $198M | $226M | $224M | $475M | $483M | $299M | $304M | $177M | $161M |
| Inventory | $395M | $408M | $481M | $540M | $622M | $1.1B | $1.3B | $880M | $588M | $543M |
| Total current assets | $1.0B | $882M | $886M | $1.0B | $1.2B | $2.0B | $2.0B | $1.4B | $980M | $940M |
| Property, plant and equipment | $445M | $468M | $531M | $546M | $560M | $622M | $606M | $610M | $610M | $608M |
| Goodwill | $372M | $442M | $543M | $539M | $544M | $605M | $254M | $244M | $244M | $244M |
| Total assets | $2.8B | $2.7B | $3.1B | $3.0B | $3.4B | $4.8B | $4.3B | $3.4B | $2.9B | $2.7B |
| Total current liabilities | $707M | $544M | $613M | $620M | $950M | $1.1B | $964M | $774M | $750M | $740M |
| Long-term debt | $1.0B | $1.3B | $1.9B | $1.5B | $1.5B | $2.2B | $2.8B | $2.6B | $2.2B | $2.0B |
| Total liabilities | $2.0B | $2.1B | $2.7B | $2.3B | $2.7B | $3.8B | $4.1B | $3.7B | $3.3B | $3.1B |
| Shareholders' equity | $715M | $649M | $355M | $719M | $697M | $1.0B | $148M | -$267M | -$391M | -$358M |
| Net debt | $1.2B | $1.3B | $2.0B | $1.6B | $1.5B | $2.1B | $2.9B | $2.6B | $2.2B | $2.1B |
Cash flow
Fiscal years, from Scotts Miracle-Gro's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $244M | $363M | $342M | $227M | $558M | $272M | -$129M | $531M | $668M | $371M |
| Capital spending | $58M | $70M | $68M | $42M | $63M | $107M | $114M | $93M | $84M | $97M |
| Free cash flow | $186M | $294M | $274M | $184M | $495M | $165M | -$242M | $438M | $584M | $274M |
| Stock-based compensation | $16M | $25M | $40M | $38M | $58M | $41M | $34M | $69M | $80M | $69M |
| Dividends paid | $117M | $120M | $120M | $124M | $411M | $143M | $166M | $149M | $151M | $154M |
| Share buybacks (net) | -$137M | -$255M | -$328M | -$3M | -$53M | -$129M | -$258M | -$9M | -$5M | -$18M |
| Free cash flow margin | 7.4% | 11.1% | 10.3% | 5.8% | 12.0% | 3.3% | -6.2% | 12.3% | 16.4% | 8.0% |
| Dividends per share | $1.88 | $2.00 | $2.10 | $2.21 | $7.23 | $2.50 | $2.99 | $2.66 | $2.66 | $2.63 |
Questions
What was Scotts Miracle-Gro's revenue in 2025?
$3.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Scotts Miracle-Gro generate?
$274M in fiscal 2025 (operating cash flow minus capital spending).
From Scotts Miracle-Gro's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.