Scotts Miracle-Gro (SMG) FY2015 results: revenue $2.4 billion, down 16.5% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $2.4 billion for fiscal 2015, the year ended 30 September 2015, down 16.5% on the year before. Net income was $160 million, down 4.0%, and diluted earnings per share $2.57. The figures are the company's own, from the 10-K it filed with the SEC on 24 November 2015.
Revenue
$2.4 billion
-16.5% on the year
FY2008FY2015
Operating margin
10.7%
10.0% a year earlier
FY2008FY2015
Net income
$160 million
-4.0% on the year
FY2008FY2015
Diluted EPS
$2.57
-3.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
2,371
2,841
2,774
-16.5%
Cost of revenue
1,557
1,688
1,793
-7.8%
Gross profit
811
890
978
-8.9%
Gross margin
34.2%
31.3%
35.3%
Research and development
36.5
46.0
46.4
-20.7%
Selling, general and administrative
489
567
660
-13.8%
Operating income
254
284
310
-10.5%
Operating margin
10.7%
10.0%
11.2%
Interest expense
48.8
47.3
59.2
+3.2%
Pre-tax income
205
226
251
-9.2%
Income tax
76.3
80.2
91.9
-4.9%
Effective tax rate
37.2%
35.5%
36.6%
Net income
160
166
161
-4.0%
Net margin
6.7%
5.9%
5.8%
Diluted EPS
$2.57
$2.65
$2.57
-3.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
247
241
342
+2.5%
Capital expenditure
61.7
87.6
60.1
-29.6%
Free cash flow
185
153
282
+20.8%
Free cash flow margin
7.8%
5.4%
10.2%
Cash from investing
-536
-156
-64.2
Cash from financing
279
-124
-281
Depreciation and amortisation
53.5
60.5
66.1
-11.6%
Share-based compensation
13.2
11.1
10.3
+18.9%
Buybacks
14.8
120
0.0
-87.7%
Dividends paid
111
231
87.8
-51.8%
Dividend per share
$1.82
$3.76
$1.41
-51.6%
Diluted shares, weighted
62m
63m
63m
-0.8%
Shares outstanding at period end
61m
61m
62m
+1.2%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
621
554
710
+12.1%
Non-controlling interest
12.4
13.5
0.0
-8.1%
Debt
1,158
784
570
+47.6%
Other liabilities
736
707
656
+4.2%
Total liabilities and equity
2,527
2,058
1,937
+22.8%
Fixed assets
444
437
422
+1.6%
Goodwill
282
219
315
+29.0%
Intangible assets
655
303
284
+116.4%
Cash and equivalents
50.8
64.9
130
-21.7%
Receivables
158
224
207
-29.6%
Inventory
396
385
325
+2.8%
Other assets
541
426
254
+27.2%
Total assets
2,527
2,058
1,937
+22.8%
10-K for the year ended 30 September 2015, filed 24 November 2015: the filing.