Scotts Miracle-Gro (SMG) FY2019 results: revenue $3.2 billion, up 18.5% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $3.2 billion for fiscal 2019, the year ended 30 September 2019, up 18.5% on the year before. Net income was $461 million, up 623.2%, and diluted earnings per share $8.18. The figures are the company's own, from the 10-K it filed with the SEC on 27 November 2019.
Revenue
$3.2 billion
+18.5% on the year
FY2012FY2019
Operating margin
13.0%
7.5% a year earlier
FY2012FY2019
Net income
$461 million
+623.2% on the year
FY2012FY2019
Diluted EPS
$8.18
+630.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,156
2,663
2,642
+18.5%
Cost of revenue
2,130
1,778
1,670
+19.8%
Gross profit
1,020
865
973
+17.9%
Gross margin
32.3%
32.5%
36.8%
Research and development
39.6
42.5
39.9
-6.8%
Selling, general and administrative
601
540
551
+11.3%
Operating income
410
199
433
+105.9%
Operating margin
13.0%
7.5%
16.4%
Interest expense
102
86.4
76.1
+17.8%
Pre-tax income
582
116
315
+402.7%
Income tax
145
-11.9
117
Effective tax rate
24.9%
-10.3%
37.0%
Net income
461
63.7
218
+623.2%
Net margin
14.6%
2.4%
8.3%
Diluted EPS
$8.18
$1.12
$3.63
+630.4%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
227
342
363
-33.8%
Capital expenditure
42.4
68.2
69.6
-37.8%
Free cash flow
184
274
294
-32.8%
Free cash flow margin
5.8%
10.3%
11.1%
Cash from investing
255
-581
22.4
Cash from financing
-496
151
-317
Depreciation and amortisation
89.3
83.4
73.8
+7.1%
Share-based compensation
38.4
40.4
25.2
-5.0%
Buybacks
3.1
328
255
-99.1%
Dividends paid
124
120
120
+3.8%
Dividend per share
$2.23
$2.14
$2.03
+4.2%
Diluted shares, weighted
56m
57m
60m
-1.4%
Shares outstanding at period end
56m
55m
58m
+0.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
719
355
649
+102.7%
Non-controlling interest
4.5
5.0
12.9
-10.0%
Debt
1,634
2,026
1,410
-19.4%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
672
669
676
+0.4%
Total liabilities and equity
3,029
3,054
2,747
-0.8%
Fixed assets
546
531
468
+2.9%
Goodwill
539
543
442
-0.8%
Intangible assets
708
857
749
-17.5%
Cash and equivalents
18.8
33.9
120
-44.5%
Receivables
224
226
198
-0.9%
Inventory
540
481
408
+12.2%
Other assets
454
382
363
+18.7%
Total assets
3,029
3,054
2,747
-0.8%
10-K for the year ended 30 September 2019, filed 27 November 2019: the filing.