Stock

The Scotts Miracle-Gro Company

SMG

Agricultural Inputs · Basic Materials

Also trades as: 0L45.L GBP 0.59 (+1.44%)

Price

$59.29

+0.14 (+0.24%)

Market Cap

$3.45B

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Oct 24, 2026 · filings through Jun 27, 2026

§How the score breaks down

Quality

Mixed

13/30

Growth

Good

12/20

Cash Flow

Strong

8/10

Stability

Weak

2/10

Valuation

Good

5/10

Ownership

Good

10/15

Dividends

Good

3/5

53 of 100 counted points = Winston Score 53.

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Share count rising — dilution

+2.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 57.2M (2021) → 58.7M (2025)

§Winston Score History

The full picture

Scotts Miracle-Gro makes lawn and garden products that everyday consumers use to grow grass, flowers, and vegetables at home. Its most recognized brands include Scotts lawn fertilizers, Miracle-Gro potting soil and plant food, and Ortho pest control products. The company also owns Hawthorne Gardening, which sells growing equipment and nutrients to indoor and hydroponic growers.

The company earns most of its revenue by selling branded consumer products through large retailers like Home Depot, Lowe's, and Walmart, making it heavily dependent on a small number of retail partners. It operates primarily in the United States, with some presence in Europe and other markets. Scotts holds strong brand recognition in a category where consumers tend to trust familiar names, which gives it some pricing power. The biggest risk the company faces is its Hawthorne segment, which struggled significantly as demand from cannabis growers collapsed after a period of rapid expansion.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

31.2%

Modest — 31.2% gross margin

Profit after running costs

Operating Margin

14.5%

Healthy — 14.5% operating margin

Return on the money invested

ROCE

8.9%

Below par — 8.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-2.0%

Shrinking sales (-2.0% YoY)

Profit growth

EPS YoY

+45.3%

Earnings growing fast (+45.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

499%

Turns 499% of profit into real cash

Spare cash per sale

FCF Margin

7.4%

Modest free cash flow (7.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

—

Data not available

Covers its interest

Interest Cover

3.66x

Tight — interest eats into profit (3.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

47.4x

Expensive — P/E 47.4

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+37.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (47.4 → 10.0)

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Dividends

Dividend

Dividend Yield

5.23%

Healthy income — 5.23% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+0.0%

Dividend flat

Payout Ratio

314%

no trend

Paying out more than the last 12 months of profit. The dividend is being funded from cash or borrowing, not this year’s earnings.

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