Name: Monsanto Co. (NYSE:MON) | Analysis of Revenues
Creator: Stock Analysis on Net

Analysis of Revenues

Revenues as Reported

Revenues as Reported

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Monsanto Co., income statement, revenues

US$ in millions

12 months ended:	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014	Aug 31, 2013	Aug 31, 2012
Corn seed and traits	6,270)	5,825)	5,953)	6,401)	6,596)	5,814)
Soybean seed and traits	2,662)	2,162)	2,276)	2,102)	1,653)	1,771)
Cotton seed and traits	615)	440)	523)	665)	695)	779)
Vegetable seeds	815)	801)	816)	867)	821)	851)
All other crops seeds and traits	551)	760)	675)	705)	575)	574)
Seeds and Genomics	10,913)	9,988)	10,243)	10,740)	10,340)	9,789)
Agricultural productivity	3,727)	3,514)	4,758)	5,115)	4,521)	3,715)
Agricultural Productivity	3,727)	3,514)	4,758)	5,115)	4,521)	3,715)
Net sales	14,640)	13,502)	15,001)	15,855)	14,861)	13,504)

Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).

Net sales exhibited a fluctuating trend over the six-year period from 2012 to 2017. An initial growth phase saw revenues rise from US$ 13,504 million in 2012 to a peak of US$ 15,855 million in 2014. This was followed by a two-year contraction, with net sales declining to US$ 13,502 million by 2016, before recovering to US$ 14,640 million in 2017.

Seeds and Genomics Segment: This segment remains the primary revenue driver, consistently contributing the majority of total net sales. Revenue in this category peaked in 2014 at US$ 10,740 million and reached its highest point in the analyzed period in 2017 at US$ 10,913 million. Within this segment, Corn seed and traits represent the largest revenue stream, although it experienced volatility, peaking in 2013 at US$ 6,596 million. Conversely, Soybean seed and traits showed the most consistent growth, increasing from US$ 1,771 million in 2012 to US$ 2,662 million in 2017. Cotton seed and traits followed a generally downward trajectory, hitting a low of US$ 440 million in 2016 before a partial recovery in 2017. Vegetable seeds remained remarkably stable, fluctuating minimally around the US$ 800 million to US$ 860 million range.
Agricultural Productivity Segment: The Agricultural Productivity segment demonstrated significant volatility compared to the Seeds and Genomics business. Revenue grew aggressively between 2012 and 2014, rising from US$ 3,715 million to a peak of US$ 5,115 million. However, a sharp decline occurred thereafter, with revenues dropping to US$ 3,514 million by 2016, representing a substantial reduction from the 2014 peak. A slight recovery was observed in 2017, with revenue increasing to US$ 3,727 million.

The overall revenue profile indicates a heavy reliance on the Seeds and Genomics segment, particularly corn and soybeans. While the Agricultural Productivity segment provided significant growth in the early part of the period, its subsequent volatility contributed markedly to the fluctuations in total net sales between 2014 and 2016.

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