When a company such as Scotts Miracle-Gro splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.

Looking at the Scotts Miracle-Gro stock split history from start to finish, an original position size of 1000 shares would have turned into 2000 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Scotts Miracle-Gro shares, starting with a $10,000 purchase of SMG, presented on a split-history-adjusted basis factoring in the complete Scotts Miracle-Gro stock split history.