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Scotts Miracle-Gro cash flow, quarter by quarter

Latest: Q3 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$321M in Q3 FY26 · $263M over twelve months

Operating cash flow$346M
Capital spending−$24.5M
Free cash flow+$321M
Cash / net income3.1×
Cash conversion cycle85 days

Analysis

In Q3 FY26, Scotts Miracle-Gro generated $346M of operating cash flow and spent $24.5M on capital projects, leaving free cash flow of $321M.

Over the twelve months to Jun 27, 2026, operating cash flow was $369M; the largest uses were dividends ($154M), capital spending ($106M), net borrowing (+) / repaid (−) ($79.1M); besides operations, cash came from shares issued ($4.6M), other financing ($3.4M); the cash balance fell by $23.4M.

Operating cash flow was $346M against net income of $112M — 3.1× profit, cash ran ahead of reported earnings. The largest differences: inventory +$212M, deferred taxes +$145M, other liabilities −$93.0M.

Its cash conversion cycle was 85 days (receivables 57 + inventory 67 − payables 39).

Free cash flow

Scotts Miracle-Gro: free cash flow by quarterScotts Miracle-Gro: free cash flow by quarter$575MQ3 FY24−$475MQ1 FY25$180MQ2 FY25$438MQ3 FY25$131MQ4 FY25−$390MQ1 FY26$201MQ2 FY26$321MQ3 FY26
Operating cash flow less capital spending.
Scotts Miracle-Gro: operating cash flow against capital spendingScotts Miracle-Gro: operating cash flow against capital spendingOperating cash flowCapital spending$588M$13.2MQ3 FY24−$445M$29.3MQ1 FY25$188M$8.3MQ2 FY25$454M$16.9MQ3 FY25$174M$42.9MQ4 FY25−$370M$20.0MQ1 FY26$220M$18.6MQ2 FY26$346M$24.5MQ3 FY26
Latest (Q3 FY26): Operating cash flow $346M, Capital spending $24.5M.

Capital allocation, year by year

Scotts Miracle-Gro: where the cash came from (up) and went (down), by fiscal yearScotts Miracle-Gro: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY21: Operating cash flow $272MFY21: Net borrowing −$124MFY21: Shares issued $15.2MFY21: Asset sales $200KFY21: Capital spending −$107MFY21: Acquisitions −$128MFY21: Buybacks −$129MFY21: Dividends −$143M$287MFY21FY22: Operating cash flow −$129MFY22: Net borrowing $674MFY22: Shares issued $3.3MFY22: Asset sales $63.3MFY22: Capital spending −$114MFY22: Acquisitions −$237MFY22: Buybacks −$258MFY22: Dividends −$166M$741MFY22FY23: Operating cash flow $531MFY23: Net borrowing −$354MFY23: Shares issued $2.3MFY23: Asset sales $2.5MFY23: Capital spending −$92.8MFY23: Buybacks −$9.3MFY23: Dividends −$149M$536MFY23FY24: Operating cash flow $668MFY24: Net borrowing −$391MFY24: Shares issued $3.8MFY24: Asset sales $2.4MFY24: Capital spending −$84.0MFY24: Buybacks −$5.1MFY24: Dividends −$151M$674MFY24FY25: Operating cash flow $371MFY25: Net borrowing −$122MFY25: Shares issued $11.9MFY25: Capital spending −$97.4MFY25: Acquisitions −$2.5MFY25: Buybacks −$18.4MFY25: Dividends −$154M$383MFY25
Over these 5 years operating cash flow totalled $1.7B; the largest uses were net borrowing ($990M) and dividends ($764M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$27.7M
Debt$2.1B
Net debt$2.1B
Due within a year$277M

Scotts Miracle-Gro funds itself: free cash flow was $263M over the last twelve months, and $27.7M of cash and investments stands against $2.1B of debt ($277M due within a year, 0.1× covered by cash).

Where the cash came from and went

Scotts Miracle-Gro: sources (+) and uses (−) of cash, Q3 FY26Scotts Miracle-Gro: sources (+) and uses (−) of cash, Q3 FY26Operating cash flow$346MNet borrowing (+) / repaid (−)−$236MDividends−$38.5MOther investing−$32.2MCapital spending−$24.5MCash drawn (+) / kept (−)−$18.6MOther financing$4.2MShares issued$600KBuybacks−$500KExchange rates−$300K
Scotts Miracle-Gro: sources (+) and uses (−) of cash, TTM to Q3 FY26Scotts Miracle-Gro: sources (+) and uses (−) of cash, TTM to Q3 FY26Operating cash flow$369MDividends−$154MCapital spending−$106MNet borrowing (+) / repaid (−)−$79.1MOther investing−$48.2MCash drawn (+) / kept (−)$23.4MBuybacks−$12.1MShares issued$4.6MOther financing$3.4MNot reconciled−$900K

From profit to cash

Scotts Miracle-Gro: net income to operating cash flow, Q3 FY26Scotts Miracle-Gro: net income to operating cash flow, Q3 FY26Net income$112MDepreciation & amortization$16.0MStock-based pay$12.0MDeferred taxes$145MReceivables$51.8MInventory$212MPayables−$77.6MPrepaid and other assets$2.8MOther liabilities−$93.0MOperating cash flow$346M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY2657673985
Q2 FY2630833677
Q1 FY264423184191
Q4 FY256710949126
Q3 FY2552693684
Q2 FY2531843679
Q1 FY254223087186
Q3 FY2452774088

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 FY26$346M−$24.5M−$500K−$38.5M−$236M$600K−$18.6M$321M
Q2 FY26$220M−$18.6M−$3.3M−$39.5M−$182M$2.6M$2.2M$201M
Q1 FY26−$370M−$20.0M−$8.3M−$38.3M$422M$700K$25.3M−$390M
Q4 FY25$174M−$42.9M—−$38.1M−$83.3M$700K$14.5M$131M
Q3 FY25$454M−$16.9M−$100K−$38.2M−$361M$1.2M−$34.2M$438M
Q2 FY25$188M−$8.3M−$2.7M−$38.8M−$144M$9.3M−$7.1M$180M
Q1 FY25−$445M−$29.3M−$15.6M−$39.2M$464M$700K$61.8M−$475M
Q3 FY24$588M−$13.2M−$100K−$37.5M−$334M$700K−$215M$575M

Scotts Miracle-Gro: income statement and cash flow

Scotts Miracle-Gro, Q3 FY26: revenue $1.2B (+1% year over year), operating margin 14.5%. The chart follows the revenue to costs, profit and cash.

Scotts Miracle-Gro: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.