Scotts Miracle-Gro (SMG) FY2020 results: revenue $4.1 billion, up 30.9% on the year
Scotts Miracle-Gro Co. (SMG) reported revenue of $4.1 billion for fiscal 2020, the year ended 30 September 2020, up 30.9% on the year before. Net income was $387 million, down 15.9%, and diluted earnings per share $6.81. The figures are the company's own, from the 10-K it filed with the SEC on 24 November 2020.
Revenue
$4.1 billion
+30.9% on the year
FY2013FY2020
Operating margin
14.2%
13.0% a year earlier
FY2013FY2020
Net income
$387 million
-15.9% on the year
FY2013FY2020
Diluted EPS
$6.81
-16.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,132
3,156
2,663
+30.9%
Cost of revenue
2,769
2,130
1,778
+30.0%
Gross profit
1,347
1,020
865
+32.1%
Gross margin
32.6%
32.3%
32.5%
Research and development
39.7
39.6
42.5
+0.3%
Selling, general and administrative
758
601
540
+26.0%
Operating income
585
410
199
+42.9%
Operating margin
14.2%
13.0%
7.5%
Interest expense
79.6
102
86.4
-21.8%
Pre-tax income
511
582
116
-12.2%
Income tax
124
145
-11.9
-14.6%
Effective tax rate
24.2%
24.9%
-10.3%
Net income
387
461
63.7
-15.9%
Net margin
9.4%
14.6%
2.4%
Diluted EPS
$6.81
$8.18
$1.12
-16.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
558
227
342
+146.0%
Capital expenditure
62.7
42.4
68.2
+47.9%
Free cash flow
495
184
274
+168.6%
Free cash flow margin
12.0%
5.8%
10.3%
Cash from investing
46.9
255
-581
-81.6%
Cash from financing
-607
-496
151
Depreciation and amortisation
94.7
89.3
83.4
+6.0%
Share-based compensation
57.9
38.4
40.4
+50.8%
Buybacks
53.2
3.1
328
+1,616.1%
Dividends paid
411
124
120
+230.3%
Dividend per share
$7.36
$2.23
$2.14
+230.0%
Diluted shares, weighted
57m
56m
57m
+1.1%
Shares outstanding at period end
56m
56m
55m
0.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
697
719
355
-3.0%
Non-controlling interest
5.7
4.5
5.0
+26.7%
Debt
1,495
1,634
2,026
-8.5%
Operating lease liabilities
113
0.0
n/a
Finance lease liabilities
30.9
n/a
n/a
Other liabilities
1,038
672
669
+54.5%
Total liabilities and equity
3,380
3,029
3,054
+11.6%
Fixed assets
560
546
531
+2.6%
Goodwill
544
539
543
+1.0%
Intangible assets
679
708
857
-4.0%
Cash and equivalents
16.6
18.8
33.9
-11.7%
Receivables
475
224
226
+112.1%
Inventory
622
540
481
+15.1%
Other assets
484
454
382
+6.7%
Total assets
3,380
3,029
3,054
+11.6%
10-K for the year ended 30 September 2020, filed 24 November 2020: the filing.