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The Scotts Miracle Gro Co Class A SMG

Morningstar Rating
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Stock XNYS Rating as of
$63.35 −0.14 (0.22%)
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As of Delayed Price Post-Trading: $64.48 +1.13
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Company Report

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Scotts Miracle-Gro: Updated Guidance Includes Lower US Consumer Sales Outlook

Seth Goldstein

Scotts Miracle-Gro announced reduced guidance for fiscal 2024 following weaker-than-expected US consumer sales. We had previously assumed Scotts would see lower US consumer sales, and our fiscal 2024 forecast already assumed the company would come in below management's forecast. Having updated our model for slightly lower US consumer sales in fiscal 2024, we are maintaining our $95 per share fair value estimate. Our narrow moat rating is also unchanged.

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Price vs Fair Value

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SMG is trading at a 597% premium.
Price
$63.49
Fair Value
$16.00
Uncertainty
Very High
1-Star Price
$269.88
5-Star Price
$86.50
Economic Moat
Ldmdbss
Capital Allocation
Kqzyy

Bulls Say, Bears Say

Bulls

US household formation growth will drive demand for gardening products. As the market leader in consumer gardening products, Scotts will benefit from the secular housing trend.

Bears

While the recreational gardening industry is growing, consumers will increasingly prefer cheaper private label and generic products, reducing Scotts' market share over time.

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Trading Information

Previous Close Price
$63.49
Day Range
$62.87–64.40
52-Week Range
$43.67–77.95
Bid/Ask
$61.98 / $69.28
Market Cap
$3.60 Bil
Volume/Avg
854,235 / 861,584

Key Statistics

Price/Earnings (Normalized)
99.20
Price/Sales
1.05
Dividend Yield (Trailing)
4.16%
Dividend Yield (Forward)
4.16%
Total Yield
4.37%

Company Profile

Scotts Miracle-Gro is the largest provider of gardening and lawncare products in the United States. The majority of the company's sales are to large retailers that include Home Depot, Lowe's, and Walmart. Scotts Miracle-Gro can sell its products at a higher price point than its competition because of a well-recognized portfolio of brands that include Miracle-Gro, Roundup, Ortho, Tomcat, and Scotts. Scotts is also the leading supplier of cannabis-growing equipment in North America through its Hawthorne business.
Sector
Basic Materials
Industry
Agricultural Inputs
Stock Style Box
Small Core
Total Number of Employees
5,500
Website
https://www.scottsmiraclegro.com

Competitors

Valuation

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Metric
SMG
MAS
CURLF
Price/Earnings (Normalized)
 99.2016.38—
Price/Book Value
 ——2.81
Price/Sales
 1.051.842.08
Price/Cash Flow
 36.7412.1043.47
Price/Earnings
SMG
MAS
CURLF

Financial Strength

Metric
SMG
MAS
CURLF
Quick Ratio
 0.891.020.29
Current Ratio
 1.831.740.72
Interest Coverage
 −1.3212.98−0.31
Quick Ratio
SMG
MAS
CURLF

Profitability

Metric
SMG
MAS
CURLF
Return on Assets (Normalized)
 1.50%16.54%−5.56%
Return on Equity (Normalized)
 ——−16.04%
Return on Invested Capital (Normalized)
 7.16%28.32%−5.52%
Return on Assets
SMG
MAS
CURLF
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