Scotts Miracle-Gro (SMG) FY2017 results: revenue $2.6 billion, up 5.4% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $2.6 billion for fiscal 2017, the year ended 30 September 2017, up 5.4% on the year before. Net income was $218 million, down 30.8%, and diluted earnings per share $3.63. The figures are the company's own, from the 10-K it filed with the SEC on 29 November 2018.
Revenue
$2.6 billion
+5.4% on the year
FY2010FY2017
Operating margin
16.4%
17.9% a year earlier
FY2010FY2017
Net income
$218 million
-30.8% on the year
FY2010FY2017
Diluted EPS
$3.63
-28.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
2,642
2,506
2,371
+5.4%
Cost of revenue
1,670
1,600
1,557
+4.3%
Gross profit
973
900
811
+8.0%
Gross margin
36.8%
35.9%
34.2%
Research and development
39.9
36.0
36.5
+10.8%
Selling, general and administrative
551
518
489
+6.4%
Operating income
433
448
254
-3.2%
Operating margin
16.4%
17.9%
10.7%
Interest expense
76.1
62.9
48.8
+21.0%
Pre-tax income
315
384
205
-17.9%
Income tax
117
138
76.3
-15.3%
Effective tax rate
37.0%
35.9%
37.2%
Net income
218
315
160
-30.8%
Net margin
8.3%
12.6%
6.7%
Diluted EPS
$3.63
$5.09
$2.57
-28.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
363
244
247
+48.9%
Capital expenditure
69.6
58.3
61.7
+19.4%
Free cash flow
294
186
185
+58.1%
Free cash flow margin
11.1%
7.4%
7.8%
Cash from investing
22.4
-134
-536
Cash from financing
-317
-129
279
Depreciation and amortisation
73.8
62.3
53.5
+18.5%
Share-based compensation
25.2
15.6
13.2
+61.5%
Buybacks
255
137
14.8
+85.7%
Dividends paid
120
117
111
+3.2%
Dividend per share
$2.03
$1.91
$1.82
+6.3%
Diluted shares, weighted
60m
62m
62m
-2.9%
Shares outstanding at period end
58m
60m
61m
-3.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
649
715
621
-9.3%
Non-controlling interest
12.9
19.1
12.4
-32.5%
Debt
1,410
1,222
1,158
+15.4%
Other liabilities
676
800
736
-15.5%
Total liabilities and equity
2,747
2,756
2,527
-0.3%
Fixed assets
468
445
444
+5.1%
Goodwill
442
372
282
+18.7%
Intangible assets
749
690
655
+8.5%
Cash and equivalents
120
28.6
50.8
+321.3%
Receivables
198
127
158
+55.7%
Inventory
408
395
396
+3.2%
Other assets
363
699
541
-48.0%
Total assets
2,747
2,756
2,527
-0.3%
10-K for the year ended 30 September 2017, filed 29 November 2018: the filing.