The Scotts Miracle-Gro Company
SMG Basic Materials Agricultural Inputs
The Scotts Miracle-Gro Company’s revenue for fiscal 2025 (year ended September 2025) was $3.4 billion, down 3.93% from fiscal 2024. In the quarter to June 2026, revenue grew 1.10%, EPS fell 25.2%, free cash flow fell 26.6% and total debt fell 3.43%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
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The Scotts Miracle-Gro Company (SMG) Altman Z-score
The Scotts Miracle-Gro Company's Altman Z-score for fiscal 2025 is 2.55, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.55 | (0.08) |
| FY2024 | 2.63 | 0.86 |
| FY2023 | 1.76 | 0.22 |
| FY2022 | 1.54 | (2.00) |
| FY2021 | 3.54 | (0.77) |
| FY2020 | 4.31 | 0.59 |
| FY2019 | 3.72 | 1.11 |
| FY2018 | 2.60 | (1.19) |
| FY2017 | 3.79 | 0.25 |
| FY2016 | 3.55 | 0.48 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.07 | — | 0.09 | |
| Retained earnings / total assets | 0.11 | — | 0.15 | |
| EBIT / total assets | 0.13 | — | 0.43 | |
| Market value of equity / total liabilities | 1.06 | — | 0.64 | |
| Sales / total assets | 1.24 | — | 1.24 | |
| Altman Z-score | Grey zone | 2.55 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.59 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CF CF Industries Holdings, Inc. compare | 2.8× |
| SMG The Scotts Miracle-Gro Company | 2.5× |
| ICL ICL Group Ltd. compare | 2.2× |
| IPI Intrepid Potash, Inc compare | 2.1× |
| MOS The Mosaic Company compare | 1.9× |
| NTR Nutrien Ltd. compare | 1.8× |
| CTVA Corteva, Inc. compare | 0.9× |
| FMC FMC Corporation compare | 0.7× |
| UAN CVR Partners, LP compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets