Scotts Miracle-Gro (SMG) FY2018 results: revenue $2.7 billion, up 0.8% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $2.7 billion for fiscal 2018, the year ended 30 September 2018, up 0.8% on the year before. Net income was $64 million, down 70.8%, and diluted earnings per share $1.12. The figures are the company's own, from the 10-K it filed with the SEC on 29 November 2018.
Revenue
$2.7 billion
+0.8% on the year
FY2011FY2018
Operating margin
7.5%
16.4% a year earlier
FY2011FY2018
Net income
$64 million
-70.8% on the year
FY2011FY2018
Diluted EPS
$1.12
-69.1% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,663
2,642
2,506
+0.8%
Cost of revenue
1,778
1,670
1,600
+6.5%
Gross profit
865
973
900
-11.1%
Gross margin
32.5%
36.8%
35.9%
Research and development
42.5
39.9
36.0
+6.5%
Selling, general and administrative
540
551
518
-2.0%
Operating income
199
433
448
-54.1%
Operating margin
7.5%
16.4%
17.9%
Interest expense
86.4
76.1
62.9
+13.5%
Pre-tax income
116
315
384
-63.3%
Income tax
-11.9
117
138
Effective tax rate
-10.3%
37.0%
35.9%
Net income
63.7
218
315
-70.8%
Net margin
2.4%
8.3%
12.6%
Diluted EPS
$1.12
$3.63
$5.09
-69.1%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
342
363
244
-5.7%
Capital expenditure
68.2
69.6
58.3
-2.0%
Free cash flow
274
294
186
-6.6%
Free cash flow margin
10.3%
11.1%
7.4%
Cash from investing
-581
22.4
-134
Cash from financing
151
-317
-129
Depreciation and amortisation
83.4
73.8
62.3
+13.0%
Share-based compensation
40.4
25.2
15.6
+60.3%
Buybacks
328
255
137
+28.4%
Dividends paid
120
120
117
-0.2%
Dividend per share
$2.14
$2.03
$1.91
+5.4%
Diluted shares, weighted
57m
60m
62m
-5.1%
Shares outstanding at period end
55m
58m
60m
-4.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
355
649
715
-45.3%
Non-controlling interest
5.0
12.9
19.1
-61.2%
Debt
2,026
1,410
1,222
+43.7%
Other liabilities
669
676
800
-0.9%
Total liabilities and equity
3,054
2,747
2,756
+11.2%
Fixed assets
531
468
445
+13.5%
Goodwill
543
442
372
+23.0%
Intangible assets
857
749
690
+14.5%
Cash and equivalents
33.9
120
28.6
-71.9%
Receivables
226
198
127
+14.3%
Inventory
481
408
395
+18.1%
Other assets
382
363
699
+5.2%
Total assets
3,054
2,747
2,756
+11.2%
10-K for the year ended 30 September 2018, filed 29 November 2018: the filing.