At a glance
Scotts Miracle-Gro Company is worth $3.47B, about 24 times its fiscal 2025 earnings. Revenue fell 3.9% to $3.41B in fiscal 2025, with 4.3% kept as profit; over 5 years it has grown 3.7% a year. It pays a 4.43% dividend yield, and returned $1.18B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +11.2% over the past year with dividends reinvested and −13.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 38.0% in the 2020 crash (S&P 500: 33.7%) and 75.1% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Scotts Miracle-Gro sells lawn and garden products to homeowners, mainly in North America. Its best-known brands include Scotts Turf Builder lawn fertilizer and Scotts grass seed, Miracle-Gro soils and plant food, Ortho weed and bug killers, and Tomcat rodent control. It is also the exclusive agent for certain consumer Roundup products owned by Monsanto, a Bayer subsidiary, in the U.S. and some other countries. Scotts handles the marketing, sales, merchandising and warehousing for these products. The company calls this role a substantial source of earnings.
In the fiscal year ended September 30, 2025, sales totaled $3.41 billion. The U.S. Consumer segment brought in $2.99 billion, or 87.7%. A segment made up mostly of the Canadian lawn and garden business added 7.4%. Hawthorne contributed 4.9%. It sells nutrients, lighting and equipment for indoor and hydroponic growing, which uses little or no soil, under brands such as General Hydroponics and Gavita. The U.S. supplied 91.8% of sales.
Products reach shoppers through home centers, mass merchants, warehouse clubs, hardware stores, garden centers and online platforms. Home Depot and Lowe's are the two largest customers and the only ones above 10% of sales. The business is highly seasonal. More than 75% of North American lawn and garden sales come in the second and third fiscal quarters, roughly January through June.
Price history
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SMG +11.2% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| U.S. Consumer | $2.99B | 87.7% |
| Other non-reportable operating segment | $253.6M | 7.4% |
| Hawthorne | $165.8M | 4.9% |
By geography
| U.S. Plan | $3.13B | 91.8% |
| International | $278.6M | 8.2% |
Latest results
- In Q3 FY2026 (ended Jun 27, 2026), revenue was $1.17B, up 1.1% from a year earlier, and net income was $112.2M (-24.7%).
- For fiscal 2025, revenue was $3.41B (-3.9% year over year; -3.7% a year from FY2020 to FY2025) with a 4.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | -3.7% weak |
|---|---|
| Operating margin | 10.5% watch |
| Free cash flow margin | 8% watch |
| Return on assets (FY2025) | 5.3% watch |
| Net cash (cash minus debt) | $-2.09B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.13B | $387.4M | $495.3M |
| FY2021 | $4.92B | $512.5M | $164.6M |
| FY2022 | $3.92B | $-437.5M | $-242.5M |
| FY2023 | $3.55B | $-380.1M | $438.2M |
| FY2024 | $3.55B | $-34.9M | $583.5M |
| FY2025 | $3.41B | $145.2M | $273.9M |
Valuation snapshot
| Market value | $3.47B |
|---|---|
| P/E ratio | 24.2 |
| Dividend yield | 4.43% |
Rank among 1514 US companies
Market value at each year end
Scotts Miracle-Gro’s market value went from $5.74B at the end of 2016 to $3.47B on Oct 28, 2026, down 40%; since the end of 2025 it is up 3%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.47B | +2.6% |
| 2025 | $3.38B | -11.1% |
| 2024 | $3.81B | +5.6% |
| 2023 | $3.61B | +33.8% |
| 2022 | $2.70B | -69.7% |
| 2021 | $8.88B | -20.0% |
| 2020 | $11.10B | +87.3% |
| 2019 | $5.93B | +74.3% |
| 2018 | $3.40B | -44.8% |
| 2017 | $6.16B | +7.2% |
| 2016 | $5.74B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SMG price data to Oct 28, 2026 | +5.5% | +11.2% | +14.6% | -13.3% | -0.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +5.5% |
| 2025 | -8.0% |
| 2024 | +8.2% |
| 2023 | +36.9% |
| 2022 | -68.8% |
| 2021 | -18.0% |
| 2020 | +96.5% |
| 2019 | +77.0% |
| 2018 | -41.0% |
| 2017 | +14.5% |
| 2016 | +52.0% |
| 2015 | +6.5% |
| 2014 | +6.8% |
| 2013 | +46.5% |
| 2012 | -2.9% |
| 2011 | -5.9% |
| 2010 | +31.3% |
| 2009 | +34.1% |
| 2008 | -19.1% |
| 2007 | -14.4% |
| 2006 | +15.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 39.1% over that stretch · deepest drop along the way 62.7%, back to its old high 20.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35.9% over that stretch · deepest drop along the way 38%, back to its old high 1.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 74.5% over that stretch · deepest drop along the way 75.1%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 3 sales ($2.1M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 3, 2026 | Hagedorn Partnership, L.P. Director, 10% owner | sell | $1.9M |
| Aug 3, 2026 | Hagedorn Partnership, L.P. Director, 10% owner | sell | $82K |
| Aug 10, 2026 | Mark D Kingdon Director | sell | $51K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 10.1% | Sep 30, 2026 |
| EARNEST PARTNERS LLC | 6.5% | Jun 30, 2025 |
| Kayne Anderson Rudnick Investment Management, LLC | 3.15% | Mar 31, 2025 |
ETFs with the most weight in SMG
| FLOW Global X U.S. Cash Flow Kings 100 ETF | 0.45% |
| QDF FlexShares Quality Dividend Index Fund | 0.39% |
| BTAL AGF U.S. Market Neutral Anti-Beta Fund | 0.36% |
| JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF | 0.35% |
| ANEW ProShares MSCI Transformational Changes ETF | 0.33% |
| GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 0.25% |
| EQAL Invesco Russell 1000 Equal Weight ETF | 0.23% |
| KROP Global X AgTech & Food Innovation ETF | 0.22% |
What could go wrong
- Losing the Roundup marketing deal. Scotts markets certain consumer Roundup products for Monsanto, a Bayer subsidiary. If that agreement ends or Roundup sales fall sharply, Scotts would lose a substantial source of earnings and help covering its fixed overhead costs.
- Heavy reliance on Home Depot and Lowe's. Home Depot and Lowe's are the only customers above 10% of sales. Losing either one could hurt results. So could a big cut in their orders or in how much Scotts product they stock.
- A bad spring can hurt the whole year. More than 75% of North American lawn and garden sales fall in two fiscal quarters. Unfavorable weather in that window, or misjudging how much inventory to build, can dent sales and cash flow.
- Heavy debt and negative shareholder equity. As of June 27, 2026, total debt was about $2.11 billion against $27.7 million of cash, and liabilities exceeded assets. Long stretches of higher interest rates or weaker results could limit the company's flexibility.
- Hagedorn Partnership holds about 23% of shares. That stake lets Hagedorn Partnership, L.P. significantly influence any decision that needs shareholder approval. This can limit the say of other investors.
- Volatile costs for fertilizer, fuel and materials. Key inputs include urea (a fertilizer ingredient), resins, diesel, natural gas, peat and grass seed. Price spikes, supply disruptions or tariffs on goods sourced abroad could squeeze profit margins.
Recent events
- Executive or board change
- Major agreement ended; Other company announcement
- Executive or board change
- Major agreement signed
- Quarterly results released
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
For income and retirement investors
Scotts Miracle-Gro paid a dividend of $2.64 a share in each fiscal year from 2022 through 2025, up from $2.52 in 2021, so it has no active streak of increases. The $7.36 paid in fiscal 2020 appears to include a special dividend. In fiscal 2025, dividends equaled 106.3% of earnings, which is more than the company earned. They equaled 56.3% of free cash flow, the cash left after capital spending. The yield was 4.43% as of October 28, 2026. Buybacks totaled $420 million over fiscal 2021–2025, yet the share count rose 4.3% between August 2021 and July 2026.
In the 2008 financial crisis the stock fell 62.7% and did not recover until March 2010. It dropped 38% in the 2020 COVID crash but bounced back within about a month. In the 2022 market slump it lost 75.1% and had not regained its prior peak by October 28, 2026. A single stock carries more risk than a diversified fund holding many companies.
Questions investors ask
How does Scotts Miracle-Gro make money?
Mostly by selling lawn and garden products to U.S. homeowners through large retailers. In the fiscal year ended September 30, 2025, the U.S. Consumer segment brought in 87.7% of $3.41 billion in sales. That segment includes the Scotts, Miracle-Gro, Ortho and Tomcat brands. A mostly Canadian segment added 7.4%, and Hawthorne, the indoor and hydroponic gardening business, added 4.9%. Scotts also earns money as the exclusive agent marketing certain consumer Roundup products for Monsanto, a Bayer subsidiary.
Does Scotts Miracle-Gro raise its dividend every year?
No. Scotts Miracle-Gro paid $2.64 a share in each fiscal year from 2022 through 2025, after an increase from $2.52 in fiscal 2021. That means it has no active streak of annual increases. Regular dividends grew about 1.2% a year over fiscal 2021–2025. In fiscal 2025 the dividend equaled 106.3% of earnings and 56.3% of free cash flow. The yield was 4.43% as of October 28, 2026.
Is Scotts Miracle-Gro profitable?
Yes, based on its latest full-year results, though profits remain below past levels. It had net losses of $437.5 million in fiscal 2022, $380.1 million in fiscal 2023 and $34.9 million in fiscal 2024. In fiscal 2025 it earned $145.2 million, or $2.47 a share. That compares with $512.5 million in fiscal 2021. In the quarter ended June 27, 2026, net income fell 24.7% from a year earlier to $112.2 million, while sales rose 1.1%.
How much debt does Scotts Miracle-Gro have?
About $2.11 billion of total debt as of June 27, 2026, against $27.7 million in cash and investments. Shareholder equity was negative $208.7 million, meaning the liabilities on its books exceeded its assets. The company warns that its debt could limit its flexibility. It also warns that long periods of higher interest rates could hurt its results and cash flow. For scale, its stock market value was about $3.47 billion as of October 28, 2026.
How has Scotts Miracle-Gro stock performed over the long term?
Poorly over five and 10 years, with a partial rebound. As of October 28, 2026, the share price was down 51% over five years, about 13.3% a year, and down 6% over 10 years. The stock fell 68.8% in calendar 2022 alone. It has since recovered some ground, rising 50% over three years and 11.2% over one year. It had still not regained its January 2022 peak. These figures are based on share price.