Scotts Miracle-Gro (SMG) FY2016 results: revenue $2.5 billion, up 5.7% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $2.5 billion for fiscal 2016, the year ended 30 September 2016, up 5.7% on the year before. Net income was $315 million, up 97.3%, and diluted earnings per share $5.09. The figures are the company's own, from the 10-K it filed with the SEC on 29 November 2018.
Revenue
$2.5 billion
+5.7% on the year
FY2009FY2016
Operating margin
17.9%
10.7% a year earlier
FY2009FY2016
Net income
$315 million
+97.3% on the year
FY2009FY2016
Diluted EPS
$5.09
+98.1% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,506
2,371
2,841
+5.7%
Cost of revenue
1,600
1,557
1,688
+2.7%
Gross profit
900
811
890
+11.0%
Gross margin
35.9%
34.2%
31.3%
Research and development
36.0
36.5
46.0
-1.4%
Selling, general and administrative
518
489
567
+6.0%
Operating income
448
254
284
+76.4%
Operating margin
17.9%
10.7%
10.0%
Interest expense
62.9
48.8
47.3
+28.9%
Pre-tax income
384
205
226
+87.2%
Income tax
138
76.3
80.2
+80.3%
Effective tax rate
35.9%
37.2%
35.5%
Net income
315
160
166
+97.3%
Net margin
12.6%
6.7%
5.9%
Diluted EPS
$5.09
$2.57
$2.65
+98.1%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
244
247
241
-1.2%
Capital expenditure
58.3
61.7
87.6
-5.5%
Free cash flow
186
185
153
+0.3%
Free cash flow margin
7.4%
7.8%
5.4%
Cash from investing
-134
-536
-156
Cash from financing
-129
279
-124
Depreciation and amortisation
62.3
53.5
60.5
+16.4%
Share-based compensation
15.6
13.2
11.1
+18.2%
Buybacks
137
14.8
120
+828.4%
Dividends paid
117
111
231
+4.8%
Dividend per share
$1.91
$1.82
$3.76
+4.9%
Diluted shares, weighted
62m
62m
63m
-0.3%
Shares outstanding at period end
60m
61m
61m
-1.8%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
715
621
554
+15.2%
Non-controlling interest
19.1
12.4
13.5
+54.0%
Debt
1,222
1,158
784
+5.6%
Other liabilities
800
736
707
+8.6%
Total liabilities and equity
2,756
2,527
2,058
+9.0%
Fixed assets
445
444
437
+0.2%
Goodwill
372
282
219
+31.6%
Intangible assets
690
655
303
+5.3%
Cash and equivalents
28.6
50.8
64.9
-43.7%
Receivables
127
158
224
-19.5%
Inventory
395
396
385
-0.3%
Other assets
699
541
426
+29.1%
Total assets
2,756
2,527
2,058
+9.0%
10-K for the year ended 30 September 2016, filed 29 November 2018: the filing.