FMC vs Scotts Miracle-Gro
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The short version
- FMC is the larger business, with $3.5B of revenue in fiscal 2025 against $3.4B for Scotts Miracle-Gro.
- Scotts Miracle-Gro grew revenue faster (−3.9%, against −18.3%).
- Scotts Miracle-Gro kept more of each dollar of sales as operating profit (10.5% operating margin, against −47.0%).
- Scotts Miracle-Gro turned more of its sales into free cash flow (8.0% FCF margin, against −3.0%).
- Scotts Miracle-Gro earned a higher return on the capital invested in it (13.4%, against −19.6%).
| Latest fiscal year | FMC · FY25 | SMG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $633M | $3.5B |
| Revenue | $3.5B | $3.4B |
| Free cash flow | −$103M | $274M |
| Net income | −$2.2B | $145M |
| Growth | ||
| Revenue growth | −18.3% | −3.9% |
| 5-year growth | −5.7% | −3.8% |
| Share count change | −0.2% | 3.4% |
| Profitability | ||
| Gross margin | 37.0% | 30.6% |
| Operating margin | −47.0% | 10.5% |
| Net margin | −64.6% | 4.3% |
| FCF margin | −3.0% | 8.0% |
| Return on capital | −19.6% | 13.4% |
| Return on equity | −68.3% | — |
| Balance sheet | ||
| Net debt | $3.5B | $2.1B |
| Net debt / EBITDA | — | 4.8x |
| Dividends and buybacks | $291M | $173M |
| Valuation & quality | ||
| P/E | — | 50.2x |
| Piotroski F-score | 2 | 6 |
Revenue
FY16
FMC $2.5B
SMG $2.5B
FY17
FMC $2.9B
SMG $2.6B
FY18
FMC $4.7B
SMG $2.7B
FY19
FMC $4.6B
SMG $3.2B
FY20
FMC $4.6B
SMG $4.1B
FY21
FMC $5.0B
SMG $4.9B
FY22
FMC $5.8B
SMG $3.9B
FY23
FMC $4.5B
SMG $3.6B
FY24
FMC $4.2B
SMG $3.6B
FY25
FMC $3.5B
SMG $3.4B
FMC
SMG
Operating margin
FY16
FMC 10.5%
SMG 17.9%
FY17
FMC 5.5%
SMG 16.4%
FY18
FMC 15.7%
SMG 7.5%
FY19
FMC 17.8%
SMG 13.0%
FY20
FMC 19.3%
SMG 14.2%
FY21
FMC 20.5%
SMG 14.7%
FY22
FMC 19.7%
SMG −11.1%
FY23
FMC 12.4%
SMG −4.9%
FY24
FMC 11.9%
SMG 5.9%
FY25
FMC −47.0%
SMG 10.5%
FMC
SMG
Free cash flow
FY16
FMC $278M
SMG $186M
FY17
FMC $194M
SMG $294M
FY18
FMC $280M
SMG $274M
FY19
FMC $462M
SMG $184M
FY20
FMC $670M
SMG $495M
FY21
FMC $799M
SMG $165M
FY22
FMC $518M
SMG −$243M
FY23
FMC −$434M
SMG $438M
FY24
FMC $669M
SMG $584M
FY25
FMC −$103M
SMG $274M
FMC
SMG
Return on capital
FY16
FMC 4.9%
SMG 15.7%
FY17
FMC 1.7%
SMG 14.1%
FY18
FMC 11.5%
SMG 9.3%
FY19
FMC 12.0%
SMG 13.1%
FY20
FMC 12.5%
SMG 19.5%
FY21
FMC 16.0%
SMG 20.8%
FY22
FMC 16.4%
SMG −11.2%
FY23
FMC 7.8%
SMG −5.1%
FY24
FMC 6.5%
SMG 8.0%
FY25
FMC −19.6%
SMG 13.4%
FMC
SMG
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.