A Business at a Glance
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SCOTTS MIRACLE-GRO CO
SMG
$4.1B
Mkt Cap
$69.31
+2.64%
SCOTTS MIRACLE-GRO CO (SMG) has a current P/E ratio of 45.6, compared to its historical median P/E of 18.5. The stock is currently considered Expensive based on its historical valuation range.
SCOTTS MIRACLE-GRO CO (SMG) has a 5-year average return on invested capital (ROIC) of 3.4%. This is below average and may indicate limited pricing power.
SCOTTS MIRACLE-GRO CO (SMG) has a market capitalization of $4.0B. It is classified as a mid-cap stock.
Yes, SCOTTS MIRACLE-GRO CO (SMG) pays a dividend with a trailing twelve-month yield of 3.82%. The company also returns capital through share buybacks, with a buyback yield of 0.29%.
Based on historical P/E analysis, SCOTTS MIRACLE-GRO CO (SMG) appears expensive. The current P/E of 45.6 is 146% above its historical median of 18.5. The estimated fair value CAGR (P/E method) is -28.7%.
SCOTTS MIRACLE-GRO CO (SMG) operates in the Agricultural Chemicals industry, within the Materials sector.
SCOTTS MIRACLE-GRO CO (SMG) reported annual revenue of $3.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
The Scotts Miracle-Gro Company is the leading marketer of branded consumer lawn and garden products in North America, operating through its U.S. Consumer segment and the Hawthorne segment focused on indoor and hydroponic gardening. The U.S. Consumer business manufactures and markets lawn care products (fertilizers, grass seeds, spreaders, and weed/pest controls) under iconic brands including Scotts® Turf Builder®, Miracle-Gro®, Ortho®, and Roundup® (marketed exclusively for Monsanto within the U.S. and specified countries), as well as gardening and landscape products including soils, mulches, and organic offerings. Hawthorne provides nutrients, lighting, and materials for indoor and hydroponic gardening under brands such as General Hydroponics®, Gavita®, and Botanicare®. The company operates a branded, consumer-focused business model with products distributed through major retailers, supported by significant marketing and consumer activation investments; it also holds an equity interest in Bonnie Plants, a joint venture focused on live plant distribution. The business is characterized by seasonal demand patterns concentrated in spring and summer, with a mix of consumable products (fertilizers, soils, controls) and durable goods (spreaders, hydroponic equipment), and the company is pursuing a strategic shift toward higher-margin branded products while reducing exposure to lower-margin commodities and non-branded offerings. Distribution occurs primarily through major retail partners in North America, with growing e-commerce penetration, and the company's competitive moat rests on its portfolio of long-established, widely recognized brands, supply chain capabilities, and established retailer relationships.
【Strategic portfolio transformation underway】 Management is executing a multi-year growth strategy centered on expanding household penetration and product usage frequency through innovation, modest pricing actions, and selective tuck-in acquisitions, with the goal of achieving approximately $1 billion in incremental top-line sales and gross margin approaching 40% by fiscal 2030. The company is investing in digital capabilities, including a consolidated e-commerce platform launched in fiscal 2026, and is rationalizing its product portfolio by eliminating low-performing SKUs while introducing new branded products; 83 new product SKUs generated $41 million in revenue in the first half of fiscal 2026. Management expects to manage commodity cost volatility through pricing adjustments and supply chain optimization, with most commodities locked for fiscal 2026, and is targeting continued gross margin expansion through a combination of supply chain savings and favorable product mix shift toward higher-margin branded offerings. The company is also pursuing the divestiture of its Hawthorne segment to focus resources on its core lawn and garden business and to unlock tax benefits, while maintaining a disciplined capital allocation approach that prioritizes debt reduction to achieve leverage below 3.5 times before accelerating share repurchases.
| Metric | Target | Period |
|---|---|---|
| U.S. Consumer net sales growth | low single digits | FY2026 |
| Non-GAAP adjusted gross margin rate | at least 32% | FY2026 |
| Non-GAAP adjusted earnings from continuing operations per share | $4.15–$4.35 | FY2026 |
| Incremental top-line sales growth | $1 billion | FY2030 |
| Gross margin rate | approaching 40% | FY2030 |
| Total EBITDA | north of $1 billion | FY2030 |
U.S. Consumer net sales growth (FY2026): “We expect to deliver low single-digit growth in U.S. Consumer net sales, built off the volume growth in our branded product lines and pricing actions.”
Non-GAAP adjusted gross margin rate (FY2026): “We expect to maintain low single-digit sales growth for U.S. Consumer and deliver gross margin approaching 33%.”
Non-GAAP adjusted earnings from continuing operations per share (FY2026): “non-GAAP adjusted earnings from continuing operations per share range of $4.15-$4.35 per share.”
Incremental top-line sales growth (FY2030): “the 2030 target of an incremental $1 billion in top-line sales, a gross margin rate approaching 40%, and total EBITDA north of $1 billion.”
“the 2030 target of an incremental $1 billion in top-line sales, a gross margin rate approaching 40%, and total EBITDA north of $1 billion.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.4B | 3.4B | 3.6B | 3.6B | 3.9B | 4.9B |
| Net Income | 111M | 145M | -35M | -380M | -438M | 513M |
| EPS | $1.90 | $2.47 | $-0.61 | $-6.79 | $-7.88 | $8.96 |
| Free Cash Flow | 380M | 274M | 584M | 438M | -243M | 165M |
| ROIC | 11.1% | 13.7% | 10.4% | -14.4% | -14.1% | 21.2% |
| Gross Margin | 32.5% | 30.6% | 23.9% | 18.5% | 22.2% | 29.8% |
| Debt/Equity | 0.00 | -5.89 | -5.70 | -9.76 | 20.11 | 2.26 |
| Dividends/Share | $2.65 | $2.64 | $2.64 | $2.64 | $2.64 | $2.52 |
| Operating Income | 445M | 359M | 209M | -174M | -434M | 723M |
| Operating Margin | 13.1% | 10.5% | 5.9% | -4.9% | -11.1% | 14.7% |
| ROE | 0.0% | -38.8% | 10.6% | - | -75.4% | 59.9% |
| Shares Outstanding | 58M | 59M | 57M | 56M | 56M | 57M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.8B | 3.0B | 2.5B | 2.6B | 2.7B | 3.2B | 4.1B | 4.9B | 3.9B | 3.6B | 3.6B | 3.4B | 3.4B |
| Gross Margin | 31.3% | 26.9% | 35.9% | 36.8% | 32.5% | 32.3% | 32.6% | 29.8% | 22.2% | 18.5% | 23.9% | 30.6% | 32.5% |
| R&D | 46M | 37M | 36M | 40M | 43M | 40M | 40M | 45M | 45M | 36M | 35M | 35M | 35M |
| SG&A | 567M | 489M | 518M | 551M | 540M | 601M | 758M | 744M | 613M | 551M | 559M | 603M | 595M |
| EBIT | 284M | 254M | 448M | 433M | 199M | 410M | 585M | 723M | -434M | -174M | 209M | 359M | 445M |
| Op. Margin | 10.0% | 8.4% | 17.9% | 16.4% | 7.5% | 13.0% | 14.2% | 14.7% | -11.1% | -4.9% | 5.9% | 10.5% | 13.1% |
| Net Income | 167M | 160M | 315M | 218M | 64M | 461M | 387M | 513M | -438M | -380M | -35M | 145M | 111M |
| Net Margin | 5.9% | 5.3% | 12.6% | 8.3% | 2.4% | 14.6% | 9.4% | 10.4% | -11.1% | -10.7% | -1.0% | 4.3% | 3.3% |
| Non-Recurring | 85M | 75M | 183M | 38M | 226M | 8.1M | 800K | -7.9M | 1.2B | 291M | 147M | 67M | 40M |
| Returns on Capital | |||||||||||||
| ROIC | 15.7% | 11.0% | 16.4% | 15.0% | 9.6% | 13.5% | 20.0% | 21.2% | -14.1% | -14.4% | 10.4% | 13.7% | 11.1% |
| ROE | 26.3% | 27.2% | 47.2% | 32.0% | 12.7% | 85.8% | 54.7% | 59.9% | -75.4% | N/A | 10.6% | -38.8% | 0.0% |
| ROA | 8.3% | 7.0% | 11.9% | 7.9% | 2.2% | 15.1% | 12.1% | 12.5% | -9.6% | -9.9% | -1.1% | 5.2% | 3.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 241M | 247M | 244M | 363M | 343M | 227M | 558M | 272M | -129M | 531M | 668M | 371M | 478M |
| Free Cash Flow | 153M | 185M | 186M | 294M | 274M | 184M | 495M | 165M | -243M | 438M | 584M | 274M | 380M |
| Owner Earnings | 169M | 180M | 166M | 264M | 219M | 99M | 405M | 137M | -269M | 370M | 506M | 227M | -444M |
| CapEx | 88M | 62M | 58M | 70M | 68M | 42M | 63M | 107M | 114M | 93M | 84M | 97M | 98M |
| Maint. CapEx | 61M | 54M | 62M | 74M | 83M | 89M | 95M | 94M | 105M | 93M | 81M | 75M | 865M |
| Growth CapEx | 27M | 8.2M | 0 | 0 | 0 | 0 | 0 | 13M | 8.3M | 300K | 3.4M | 22M | 0 |
| D&A | 61M | 54M | 62M | 74M | 83M | 89M | 95M | 94M | 105M | 93M | 81M | 75M | 865M |
| CapEx/OCF | 36.4% | 25.0% | 24.6% | 19.2% | 19.9% | 18.7% | 11.2% | 39.4% | N/A | 17.5% | 12.6% | 26.2% | 20.6% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 231M | 111M | 117M | 120M | 120M | 125M | 411M | 143M | 166M | 149M | 151M | 154M | 154M |
| Dividend Yield | 9.5% | 4.1% | 3.7% | 2.9% | 3.1% | 3.3% | 7.3% | 1.5% | 3.0% | 4.9% | 4.5% | 4.1% | 3.8% |
| Share Buybacks | 120M | 15M | 137M | 255M | 328M | 3.1M | 53M | 129M | 258M | 9.3M | 5.1M | 18M | 12M |
| Buyback Yield | 5.0% | 0.6% | 3.4% | 5.8% | 9.5% | 0.1% | 0.7% | 1.8% | 11.2% | 0.4% | 0.1% | 0.6% | 0.3% |
| Stock-Based Comp | 11M | 13M | 16M | 25M | 40M | 38M | 58M | 41M | 34M | 69M | 80M | 69M | 57M |
| Debt Repayment | 1.5B | 1.5B | 2.2B | 1.6B | 2.3B | 1.4B | 1.4B | 1.4B | 2.9B | 1.7B | 1.0B | 825M | 825M |
| Balance Sheet | |||||||||||||
| Net Debt | 719M | 1.1B | 1.2B | 1.3B | 2.0B | 1.6B | 1.5B | 2.1B | 2.9B | 2.6B | 2.2B | 2.1B | 2.3B |
| Cash & Equiv. | 65M | 51M | 29M | 121M | 34M | 19M | 17M | 244M | 87M | 32M | 72M | 37M | 6.2M |
| Long-Term Debt | 692M | 1.0B | 1.0B | 1.3B | 1.9B | 1.5B | 1.5B | 2.2B | 2.8B | 2.6B | 2.2B | 2.0B | 2.1B |
| Debt/Equity | 1.42 | 1.86 | 1.70 | 2.16 | 5.69 | 2.30 | 2.18 | 2.26 | 20.11 | -9.76 | -5.70 | -5.89 | 0.00 |
| Interest Coverage | 6.0 | 5.2 | 7.1 | 5.7 | 2.3 | 4.0 | 7.4 | 9.2 | -3.7 | -1.0 | 1.3 | 2.8 | 3.8 |
| Equity | 554M | 621M | 715M | 649M | 355M | 719M | 697M | 1.0B | 148M | -267M | -391M | -358M | -287M |
| Total Assets | 2.1B | 2.5B | 2.8B | 2.7B | 3.1B | 3.0B | 3.4B | 4.8B | 4.3B | 3.4B | 2.9B | 2.7B | 3.4B |
| Total Liabilities | 1.5B | 1.9B | 2.0B | 2.1B | 2.7B | 2.3B | 2.7B | 3.8B | 4.1B | 3.7B | 3.3B | 3.1B | 3.7B |
| Intangibles | 303M | 655M | 690M | 749M | 857M | 708M | 679M | 710M | 580M | 437M | 419M | 402M | 351M |
| Retained Earnings | 637M | 684M | 882M | 978M | 920M | 1.3B | 1.2B | 1.6B | 1.0B | 491M | 304M | 295M | 331M |
| Working Capital | 390M | 501M | 326M | 337M | 273M | 421M | 266M | 884M | 1.0B | 624M | 230M | 201M | 346M |
| Current Assets | 935M | 1.1B | 1.0B | 882M | 886M | 1.0B | 1.2B | 2.0B | 2.0B | 1.4B | 980M | 940M | 1.6B |
| Current Liabilities | 545M | 619M | 707M | 545M | 613M | 621M | 950M | 1.1B | 964M | 774M | 750M | 740M | 1.3B |
| Per Share Data | |||||||||||||
| EPS | 2.65 | 2.57 | 5.09 | 3.63 | 1.12 | 8.18 | 6.81 | 8.96 | -7.88 | -6.79 | -0.61 | 2.47 | 1.90 |
| Owner EPS | 2.69 | 2.90 | 2.68 | 4.39 | 3.85 | 1.76 | 7.13 | 2.40 | -4.84 | 6.60 | 8.85 | 3.87 | -7.62 |
| Book Value | 8.81 | 9.98 | 11.55 | 10.79 | 6.23 | 12.76 | 12.26 | 17.72 | 2.66 | -4.77 | -6.83 | -6.08 | -4.92 |
| Cash Flow/Share | 3.83 | 3.97 | 3.94 | 6.04 | 6.02 | 4.03 | 9.81 | 4.75 | -2.32 | 9.49 | 11.67 | 6.32 | 16.76 |
| Dividends/Share | 3.76 | 1.82 | 1.91 | 2.03 | 2.14 | 2.23 | 7.36 | 2.52 | 2.64 | 2.64 | 2.64 | 2.64 | 2.65 |
| Shares Out. | 62.8M | 62.2M | 61.9M | 60.1M | 56.9M | 56.3M | 56.9M | 57.2M | 55.5M | 56.0M | 57.2M | 58.8M | 58.2M |
| Valuation | |||||||||||||
| P/E Ratio | 14.4 | 16.5 | 12.1 | 20.2 | 54.2 | 9.6 | 18.5 | 14.0 | N/A | N/A | N/A | 22.2 | 36.5 |
| P/FCF | 15.6 | 14.2 | 20.5 | 15.0 | 12.6 | 24.0 | 14.5 | 43.7 | N/A | 6.0 | 7.9 | 11.8 | 10.6 |
| EV/EBIT | 9.8 | 14.4 | 11.5 | 13.2 | 27.8 | 15.1 | 14.9 | 12.5 | N/A | N/A | 32.2 | 14.8 | 14.3 |
| Price/Book | 4.3 | 4.2 | 5.3 | 6.8 | 9.7 | 6.2 | 10.3 | 7.1 | 15.6 | N/A | N/A | N/A | N/A |
| Price/Sales | 0.9 | 1.0 | 1.3 | 1.6 | 1.4 | 1.2 | 1.4 | 1.9 | 1.4 | 0.9 | 0.9 | 1.1 | 1.2 |
| FCF Yield | 6.4% | 7.0% | 4.9% | 6.7% | 7.9% | 4.2% | 6.9% | 2.3% | -10.5% | 16.8% | 12.7% | 8.5% | 9.4% |
| Market Cap | 2.4B | 2.6B | 3.8B | 4.4B | 3.5B | 4.4B | 7.2B | 7.2B | 2.3B | 2.6B | 4.6B | 3.2B | 4.0B |
| Avg. Price | 38.82 | 44.03 | 51.31 | 68.27 | 67.83 | 66.61 | 99.53 | 162.79 | 98.47 | 54.24 | 58.67 | 63.30 | 69.31 |
| Year-End Price | 38.16 | 42.33 | 61.49 | 73.21 | 60.68 | 78.54 | 126.29 | 125.81 | 41.48 | 46.68 | 80.30 | 54.83 | 69.31 |
SCOTTS MIRACLE-GRO CO passes 2 of 9 quality checks, indicating weak fundamentals.
SCOTTS MIRACLE-GRO CO trades at 45.6x trailing earnings, compared to its 15-year median P/E of 18.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 11.2x vs a median of 14.5x. The company's 5-year average ROIC is 3.4% with a gross margin of 25.0%. Total shareholder yield (dividends + buybacks) is 4.1%. At current prices, the estimated annualized return to fair value is +7.3%.
SCOTTS MIRACLE-GRO CO (SMG) has a net profit margin of 4.3%. This is a modest margin.
SCOTTS MIRACLE-GRO CO (SMG) generated $274 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
SCOTTS MIRACLE-GRO CO (SMG) reported earnings per share (EPS) of $2.47 in its most recent fiscal year.
SCOTTS MIRACLE-GRO CO (SMG) has a return on equity (ROE) of -38.8%. A negative ROE may indicate losses or negative equity.
SCOTTS MIRACLE-GRO CO (SMG) has a 5-year average gross margin of 25.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 18 years of financial data for SCOTTS MIRACLE-GRO CO (SMG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
SCOTTS MIRACLE-GRO CO (SMG) has a book value per share of $-6.08, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is executing a multi-year growth strategy centered on expanding household penetration and product usage frequency through innovation, modest pricing actions, and selective tuck-in acquisitions, with the goal of achieving approximately $1 billion in incremental top-line sales and gross margin approaching 40% by fiscal 2030. The company is investing in digital capabilities, including a consolidated e-commerce platform launched in fiscal 2026, and is rationalizing its product portfolio by eliminating low-performing SKUs while introducing new branded products; 83 new product SKUs generated $41 million in revenue in the first half of fiscal 2026. Management expects to manage commodity cost volatility through pricing adjustments and supply chain optimization, with most commodities locked for fiscal 2026, and is targeting continued gross margin expansion through a combination of supply chain savings and favorable product mix shift toward higher-margin branded offerings. The company is also pursuing the divestiture of its Hawthorne segment to focus resources on its core lawn and garden business and to unlock tax benefits, while maintaining a disciplined capital allocation approach that prioritizes debt reduction to achieve leverage below 3.5 times before accelerating share repurchases.
Based on recent SEC filings and earnings calls, SCOTTS MIRACLE-GRO CO (SMG) has provided the following forward guidance: U.S. Consumer net sales growth: low single digits (FY2026); Non-GAAP adjusted gross margin rate: at least 32% (FY2026); Non-GAAP adjusted earnings from continuing operations per share: $4.15–$4.35 (FY2026); Incremental top-line sales growth: $1 billion (FY2030); Gross margin rate: approaching 40% (FY2030), plus 1 additional metric.
Total EBITDA (FY2030): “the 2030 target of an incremental $1 billion in top-line sales, a gross margin rate approaching 40%, and total EBITDA north of $1 billion.”
No recent press releases.