CF Industries vs Scotts Miracle-Gro
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The short version
- CF Industries is the larger business, with $7.1B of revenue in fiscal 2025 against $3.4B for Scotts Miracle-Gro, about 2.1 times as much.
- CF Industries grew revenue faster (19.3%, against −3.9%).
- CF Industries kept more of each dollar of sales as operating profit (32.5% operating margin, against 10.5%).
- CF Industries turned more of its sales into free cash flow (25.4% FCF margin, against 8.0%).
- CF Industries earned a higher return on the capital invested in it (20.6%, against 13.4%).
- Investors pay more for each dollar of Scotts Miracle-Gro’s earnings: a P/E of 50.2x against 9.0x for CF Industries.
| Latest fiscal year | CF · FY25 | SMG · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.6B | $3.5B |
| Revenue | $7.1B | $3.4B |
| Free cash flow | $1.8B | $274M |
| Net income | $1.5B | $145M |
| Growth | ||
| Revenue growth | 19.3% | −3.9% |
| 5-year growth | 11.4% | −3.8% |
| Share count change | −10.2% | 3.4% |
| Profitability | ||
| Gross margin | 38.5% | 30.6% |
| Operating margin | 32.5% | 10.5% |
| Net margin | 20.5% | 4.3% |
| FCF margin | 25.4% | 8.0% |
| Return on capital | 20.6% | 13.4% |
| Return on equity | 29.6% | — |
| Balance sheet | ||
| Net debt | $1.2B | $2.1B |
| Net debt / EBITDA | 0.4x | 4.8x |
| Dividends and buybacks | $1.7B | $173M |
| Valuation & quality | ||
| P/E | 9.0x | 50.2x |
| Piotroski F-score | 8 | 6 |
Revenue
FY16
CF $3.7B
SMG $2.5B
FY17
CF $4.1B
SMG $2.6B
FY18
CF $4.4B
SMG $2.7B
FY19
CF $4.6B
SMG $3.2B
FY20
CF $4.1B
SMG $4.1B
FY21
CF $6.5B
SMG $4.9B
FY22
CF $11.2B
SMG $3.9B
FY23
CF $6.6B
SMG $3.6B
FY24
CF $5.9B
SMG $3.6B
FY25
CF $7.1B
SMG $3.4B
CF
SMG
Operating margin
FY16
CF 3.7%
SMG 17.9%
FY17
CF 5.7%
SMG 16.4%
FY18
CF 17.3%
SMG 7.5%
FY19
CF 21.9%
SMG 13.0%
FY20
CF 15.1%
SMG 14.2%
FY21
CF 26.5%
SMG 14.7%
FY22
CF 48.3%
SMG −11.1%
FY23
CF 33.6%
SMG −4.9%
FY24
CF 29.4%
SMG 5.9%
FY25
CF 32.5%
SMG 10.5%
CF
SMG
Free cash flow
FY16
CF −$1.6B
SMG $186M
FY17
CF $1.2B
SMG $294M
FY18
CF $1.1B
SMG $274M
FY19
CF $1.1B
SMG $184M
FY20
CF $922M
SMG $495M
FY21
CF $2.4B
SMG $165M
FY22
CF $3.4B
SMG −$243M
FY23
CF $2.3B
SMG $438M
FY24
CF $1.8B
SMG $584M
FY25
CF $1.8B
SMG $274M
CF
SMG
Return on capital
FY16
CF 1.1%
SMG 15.7%
FY17
CF 1.7%
SMG 14.1%
FY18
CF 5.9%
SMG 9.3%
FY19
CF 8.8%
SMG 13.1%
FY20
CF 6.4%
SMG 19.5%
FY21
CF 16.9%
SMG 20.8%
FY22
CF 51.0%
SMG −11.2%
FY23
CF 20.5%
SMG −5.1%
FY24
CF 16.0%
SMG 8.0%
FY25
CF 20.6%
SMG 13.4%
CF
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.