General Mills (GIS) Financials

$53.81 -0.98 (-1.78%)

As of 01:35 PM Eastern

Annual Income Statements for General Mills

This table shows General Mills' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	5/26/2024	5/28/2023	5/29/2022	5/30/2021	5/31/2020	5/26/2019	5/27/2018	5/28/2017	5/29/2016	5/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,497	2,594	2,707	2,340	2,181	1,753	2,131	1,658	1,697	1,221
Consolidated Net Income / (Loss)	2,519	2,610	2,735	2,346	2,211	1,786	2,163	1,701	1,737	1,259
Net Income / (Loss) Continuing Operations	2,519	2,610	2,735	2,346	2,211	1,786	2,163	1,701	1,737	1,259
Total Pre-Tax Income	3,028	3,141	3,210	2,857	2,600	2,082	2,136	2,271	2,404	1,762
Total Operating Income	3,432	3,434	3,476	3,145	2,954	2,516	2,420	2,499	2,707	2,077
Total Gross Profit	6,932	6,546	6,402	6,448	6,130	5,757	5,436	5,568	5,830	5,949
Total Revenue	19,857	20,094	18,993	18,127	17,627	16,865	15,740	15,620	16,563	17,630
Operating Revenue	19,857	20,094	18,993	18,127	17,627	16,865	15,740	15,620	16,563	17,630
Total Cost of Revenue	12,925	13,548	12,591	11,679	11,497	11,108	10,305	10,052	10,734	11,681
Operating Cost of Revenue	12,925	13,548	12,591	11,679	11,497	11,108	10,305	10,052	10,734	11,681
Total Operating Expenses	3,500	3,112	2,926	3,304	3,176	3,241	3,016	3,069	3,122	3,872
Selling, General & Admin Expense	3,259	3,500	3,147	3,080	3,152	2,936	2,850	2,889	3,119	3,328
Other Operating Expenses / (Income)	0.00	-445	-194	54	0.00	30	-	-	-148	0.00
Restructuring Charge	241	56	-27	170	24	275	166	180	151	544
Total Other Income / (Expense), net	-403	-293	-266	-287	-354	-434	-284	-227	-304	-315
Interest Expense	479	382	380	420	467	522	374	295	304	315
Other Income / (Expense), net	76	89	113	133	113	88	89	68	-	-
Income Tax Expense	595	612	586	629	481	368	57	655	755	587
Other Gains / (Losses), net	85	81	112	118	91	72	85	85	88	84
Net Income / (Loss) Attributable to Noncontrolling Interest	22	16	28	6.20	30	34	32	44	39	38
Basic Earnings per Share	$4.34	$4.36	$4.46	$3.81	$3.59	$2.92	$3.69	$2.82	$2.83	$2.02
Weighted Average Basic Shares Outstanding	558.15M	585.18M	597.16M	607.21M	609.87M	600.40M	576.80M	587.10M	598.90M	603.30M
Diluted Earnings per Share	$4.31	$4.31	$4.42	$3.78	$3.56	$2.90	$3.64	$2.77	$2.77	$1.97
Weighted Average Diluted Shares Outstanding	558.15M	585.18M	597.16M	607.21M	609.87M	600.40M	576.80M	587.10M	598.90M	603.30M
Weighted Average Basic & Diluted Shares Outstanding	558.15M	585.18M	597.16M	607.21M	609.87M	600.40M	576.80M	587.10M	598.90M	603.30M
Cash Dividends to Common per Share	$2.36	$2.16	$2.04	$2.02	$1.96	$1.96	$1.96	$1.92	$1.78	$1.67

This table shows General Mills' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/23/2025	11/24/2024	8/25/2024	5/26/2024	2/25/2024	11/26/2023	8/27/2023	5/28/2023	2/26/2023	11/27/2022	8/28/2022
Net Income / (Loss) Attributable to Common Shareholders	626	796	580	558	670	596	674	615	553	606	820
Consolidated Net Income / (Loss)	631	802	584	560	676	602	680	620	558	608	823
Net Income / (Loss) Continuing Operations	631	802	584	560	676	602	680	620	558	608	823
Total Pre-Tax Income	769	967	722	677	808	714	830	737	654	730	1,020
Total Operating Income	891	1,078	832	779	911	812	930	818	730	800	1,086
Total Gross Profit	1,639	1,931	1,689	1,688	1,707	1,766	1,771	1,728	1,665	1,705	1,448
Total Revenue	4,842	5,240	4,848	4,714	5,099	5,139	4,905	5,030	5,126	5,221	4,718
Operating Revenue	4,842	5,240	4,848	4,714	5,099	5,139	4,905	5,030	5,126	5,221	4,718
Total Cost of Revenue	3,203	3,309	3,159	3,026	3,392	3,374	3,134	3,302	3,461	3,516	3,270
Operating Cost of Revenue	3,203	3,309	3,159	3,026	3,392	3,374	3,134	3,302	3,461	3,516	3,270
Total Operating Expenses	748	853	857	909	797	954	841	910	935	905	362
Selling, General & Admin Expense	844	852	855	798	791	831	839	868	947	894	791
Other Operating Expenses / (Income)	-96	0.00	0.00	-	0.00	0.00	0.00	-	-14	0.00	-431
Restructuring Charge	-0.80	1.20	2.20	111	5.80	124	1.20	42	1.40	11	1.60
Total Other Income / (Expense), net	-122	-111	-110	-103	-103	-98	-100	-81	-77	-70	-66
Interest Expense	136	125	124	123	122	118	117	105	98	92	88
Other Income / (Expense), net	14	14	14	20	19	20	17	24	22	22	22
Income Tax Expense	152	195	157	136	149	136	173	141	108	147	216
Other Gains / (Losses), net	14	30	19	19	18	24	24	23	13	25	20
Net Income / (Loss) Attributable to Noncontrolling Interest	5.40	6.60	3.70	2.20	6.20	6.80	6.80	5.20	4.80	2.40	3.30
Basic Earnings per Share	$1.14	$1.43	$1.03	$0.98	$1.18	$1.03	$1.15	$1.04	$0.94	$1.01	$1.37
Weighted Average Basic Shares Outstanding	547.60M	551.23M	555.16M	558.15M	564.55M	567.89M	581.28M	585.18M	587.35M	589.61M	593.54M
Diluted Earnings per Share	$1.12	$1.42	$1.03	$0.98	$1.17	$1.02	$1.14	$1.03	$0.92	$1.01	$1.35
Weighted Average Diluted Shares Outstanding	547.60M	551.23M	555.16M	558.15M	564.55M	567.89M	581.28M	585.18M	587.35M	589.61M	593.54M
Weighted Average Basic & Diluted Shares Outstanding	547.60M	551.23M	555.16M	558.15M	564.55M	567.89M	581.28M	585.18M	587.35M	589.61M	593.54M
Cash Dividends to Common per Share	$0.00	$0.00	$0.00	$2.36	$0.00	$0.00	$0.00	$2.16	$0.00	$0.00	$0.00

This table details how cash moves in and out of General Mills' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	5/26/2024	5/28/2023	5/29/2022	5/30/2021	5/31/2020	5/26/2019	5/27/2018	5/28/2017	5/29/2016	5/31/2015
Net Change in Cash & Equivalents	-168	16	-936	-173	1,228	51	-367	2.40	430	-533
Net Cash From Operating Activities	3,303	2,779	3,316	2,983	3,676	2,807	2,841	2,415	2,764	2,758
Net Cash From Continuing Operating Activities	3,313	2,779	3,316	2,983	3,676	2,807	2,841	2,408	2,764	2,543
Net Income / (Loss) Continuing Operations	2,519	2,610	2,735	2,346	2,211	1,786	2,163	1,701	1,737	1,259
Consolidated Net Income / (Loss)	2,519	2,610	2,735	2,346	2,211	1,786	2,163	1,701	1,737	1,259
Depreciation Expense	553	547	570	601	595	620	619	604	608	588
Non-Cash Adjustments To Reconcile Net Income	227	-378	-278	205	61	343	746	200	226	593
Changes in Operating Assets and Liabilities, net	15	0.00	289	-169	810	58	-687	-97	193	317
Net Cash From Investing Activities	-1,197	-346	-1,691	-513	-486	-557	-8,685	-647	93	-1,602
Net Cash From Continuing Investing Activities	-1,197	-346	-1,691	-513	-486	-557	-8,685	-647	93	-1,602
Purchase of Property, Plant & Equipment	-774	-690	-569	-531	-461	-538	-623	-684	-729	-712
Acquisitions	-452	-252	-1,201	0.00	0.00	-	-8,036	0.00	-84	-822
Purchase of Investments	-2.70	-	-	-	-	-	-17	-	-	-102
Sale of Property, Plant & Equipment	0.80	1.30	3.30	2.70	1.70	14	1.40	4.20	4.40	11
Divestitures	0.00	633	74	2.90	0.00	26	0.00	18	829	0.00
Sale and/or Maturity of Investments	0.00	-	-	-	-	0.10	-	-	-	-
Other Investing Activities, net	31	-40	1.90	12	-27	-60	-11	16	74	24
Net Cash From Financing Activities	-2,272	-2,404	-2,503	-2,716	-1,942	-2,176	5,446	-1,747	-2,420	-1,385
Net Cash From Continuing Financing Activities	-2,272	-2,404	-2,503	-2,716	-1,942	-2,176	5,446	-1,747	-2,420	-1,385
Repayment of Debt	-976	-1,484	-3,169	-2,841	-2,571	-1,591	-708	-1,047	-1,048	-1,672
Repurchase of Common Equity	-2,002	-1,404	-877	-301	-3.40	-1.10	-602	-1,652	-607	-1,162
Payment of Dividends	-1,385	-1,304	-1,374	-1,295	-1,268	-1,220	-1,192	-1,196	-1,156	-1,043
Issuance of Debt	2,065	1,555	2,755	1,648	1,638	339	6,878	2,035	219	2,253
Other Financing Activities, net	26	232	162	74	263	297	99	113	172	238

This table details how cash moves in and out of General Mills' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/23/2025	11/24/2024	8/25/2024	5/26/2024	2/25/2024	11/26/2023	8/27/2023	5/28/2023	2/26/2023	11/27/2022	8/28/2022
Net Change in Cash & Equivalents	-1,772	1,825	50	-171	-5.20	103	-95	-33	-25	50	25
Net Cash From Operating Activities	532	1,151	624	864	943	1,118	378	752	826	812	389
Net Cash From Continuing Operating Activities	532	1,151	624	874	943	1,118	378	752	826	812	389
Net Income / (Loss) Continuing Operations	631	802	584	560	676	602	680	620	558	608	823
Consolidated Net Income / (Loss)	631	802	584	560	676	602	680	620	558	608	823
Depreciation Expense	134	130	140	141	146	129	137	136	137	140	134
Non-Cash Adjustments To Reconcile Net Income	-96	-16	14	105	-9.50	114	17	57	-2.30	-2.50	-429
Changes in Operating Assets and Liabilities, net	-138	235	-113	69	130	273	-457	-61	134	67	-139
Net Cash From Investing Activities	-1,273	-158	-148	-690	-191	-181	-136	-340	-131	-141	266
Net Cash From Continuing Investing Activities	-1,273	-158	-148	-690	-191	-181	-136	-340	-131	-141	266
Purchase of Property, Plant & Equipment	-104	-161	-140	-289	-192	-152	-142	-338	-125	-136	-91
Acquisitions	-1,410	-	-7.70	-426	-	-26	0.00	-	-	0.60	-252
Sale of Property, Plant & Equipment	0.10	0.30	0.60	0.60	0.10	0.10	0.00	0.50	0.30	0.50	0.00
Divestitures	242	-	0.00	-	-	-	0.00	-	22	-	611
Other Investing Activities, net	-1.10	2.70	-0.60	27	0.20	-3.10	6.20	-2.60	-29	-6.00	-1.90
Net Cash From Financing Activities	-1,032	852	-429	-345	-754	-839	-334	-449	-725	-621	-609
Net Cash From Continuing Financing Activities	-1,032	852	-429	-345	-754	-839	-334	-449	-725	-621	-609
Repayment of Debt	-541	-43	-34	-29	-505	-405	-37	-831	-5.10	-614	-35
Repurchase of Common Equity	-302	-300	-300	-401	-300	-801	-501	-251	-251	-401	-501
Payment of Dividends	-337	-346	-343	-340	-342	-350	-353	-325	-326	-326	-327
Issuance of Debt	143	1,516	238	411	388	715	552	894	-192	665	188
Other Financing Activities, net	4.60	24	9.40	14	5.40	1.20	4.50	64	50	53	66
Effect of Exchange Rate Changes	1.10	-19	3.30	-	-2.90	5.30	-3.00	4.00	4.60	-0.10	-21

This table presents General Mills' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	5/26/2024	5/28/2023	5/29/2022	5/30/2021	5/31/2020	5/26/2019	5/27/2018	5/28/2017	5/29/2016	5/31/2015
Total Assets	31,470	31,452	31,090	31,842	30,807	30,111	30,624	21,813	21,712	21,832
Total Current Assets	4,581	5,176	5,090	5,755	5,121	4,187	4,124	4,061	3,937	3,686
Cash & Equivalents	418	586	569	1,505	1,678	450	399	766	764	334
Accounts Receivable	1,696	1,683	1,692	1,639	1,615	1,680	1,684	1,430	1,361	1,387
Inventories, net	1,898	2,172	1,867	1,821	1,426	1,559	1,642	1,484	1,414	1,541
Prepaid Expenses	569	736	802	790	402	498	398	382	399	424
Other Current Nonoperating Assets	0.00	-	159	0.00	-	-	-	-	-	-
Plant, Property, & Equipment, net	3,864	3,636	3,394	3,607	3,581	3,787	4,047	3,688	3,744	3,783
Total Noncurrent Assets	23,025	22,639	22,607	22,481	22,105	22,138	22,453	14,064	14,032	14,363
Goodwill	14,751	14,511	14,379	14,062	13,923	13,996	14,065	8,747	8,741	8,875
Intangible Assets	6,980	6,968	7,000	7,151	7,096	7,167	7,445	4,530	4,539	4,677
Other Noncurrent Operating Assets	1,295	1,160	1,228	1,268	1,086	975	943	786	752	811
Total Liabilities & Shareholders' Equity	31,470	31,452	31,090	31,842	30,807	30,111	30,624	21,813	21,712	21,832
Total Liabilities	21,821	20,752	20,302	21,464	21,913	22,192	23,355	16,216	15,560	15,660
Total Current Liabilities	7,033	7,536	8,020	8,266	7,492	7,087	7,342	5,331	5,015	4,890
Short-Term Debt	1,626	1,741	2,486	2,825	2,611	2,865	3,150	1,839	1,373	1,616
Accounts Payable	3,988	4,194	3,982	3,654	3,248	2,854	2,746	2,120	2,047	1,684
Other Current Liabilities	1,419	1,601	1,552	1,787	1,633	1,368	1,446	1,372	1,595	1,590
Other Current Nonoperating Liabilities	0.00	-	-	-	-	-	-	-	-	-
Total Noncurrent Liabilities	14,788	13,216	12,282	13,198	14,421	15,105	16,014	10,885	10,545	10,770
Long-Term Debt	11,304	9,965	9,135	9,787	10,929	11,625	12,669	7,643	7,058	7,575
Noncurrent Deferred & Payable Income Tax Liabilities	2,201	2,111	2,218	2,118	1,947	2,031	2,004	1,719	1,400	1,450
Other Noncurrent Operating Liabilities	1,284	1,140	929	1,293	1,545	1,449	1,341	1,523	2,088	1,745
Redeemable Noncontrolling Interest	0.00	0.00	0.00	605	545	552	776	911	846	779
Total Equity & Noncontrolling Interests	9,649	10,700	10,788	9,773	8,350	7,368	6,492	4,686	5,307	5,393
Total Preferred & Common Equity	9,397	10,450	10,542	9,470	8,059	7,055	6,141	4,328	4,930	4,997
Total Common Equity	9,397	10,450	10,542	9,470	8,059	7,055	6,141	4,328	4,930	4,997
Common Stock	1,303	1,298	1,258	1,441	1,424	1,462	1,278	1,196	1,253	1,372
Retained Earnings	20,972	19,839	18,533	17,070	15,982	14,997	14,460	13,139	12,617	11,991
Treasury Stock	-10,358	-8,410	-7,278	-6,611	-6,433	-6,779	-7,168	-7,763	-6,327	-6,056
Accumulated Other Comprehensive Income / (Loss)	-2,520	-2,277	-1,971	-2,429	-2,914	-2,625	-2,429	-2,245	-2,612	-2,311
Noncontrolling Interest	252	250	246	303	291	313	351	358	377	396

This table presents General Mills' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/23/2025	11/24/2024	8/25/2024	5/26/2024	2/25/2024	11/26/2023	8/27/2023	5/28/2023	2/26/2023	11/27/2022	8/28/2022
Total Assets	32,706	33,396	31,769	31,470	30,861	31,233	31,320	31,452	31,200	31,320	31,107
Total Current Assets	5,256	7,381	4,814	4,581	4,655	5,046	5,107	5,176	5,116	5,331	5,134
Cash & Equivalents	521	2,293	468	418	589	594	491	586	619	644	594
Accounts Receivable	1,791	1,782	1,844	1,696	1,771	1,759	1,791	1,683	1,770	1,834	1,730
Inventories, net	1,812	1,968	1,996	1,898	1,828	2,166	2,229	2,172	2,083	2,121	2,090
Prepaid Expenses	402	458	505	569	467	527	596	736	644	731	719
Other Current Nonoperating Assets	730	881	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00
Plant, Property, & Equipment, net	3,461	3,457	3,776	3,864	3,644	3,599	3,585	3,636	3,354	3,358	3,359
Total Noncurrent Assets	23,990	22,558	23,179	23,025	22,562	22,589	22,628	22,639	22,730	22,631	22,615
Goodwill	15,519	14,428	14,788	14,751	14,434	14,442	14,522	14,511	14,488	14,476	14,455
Intangible Assets	7,059	6,743	6,983	6,980	6,957	6,963	6,966	6,968	6,968	6,975	6,979
Other Noncurrent Operating Assets	1,412	1,387	1,409	1,295	1,172	1,184	1,140	1,160	1,274	1,180	1,181
Total Liabilities & Shareholders' Equity	32,706	33,396	31,769	31,470	30,861	31,233	31,320	31,452	31,200	31,320	31,107
Total Liabilities	23,194	23,947	22,243	21,821	21,169	21,602	20,804	20,752	20,716	20,948	20,282
Total Current Liabilities	7,876	8,024	7,289	7,033	7,062	7,902	7,068	7,536	9,418	9,208	8,596
Short-Term Debt	2,348	2,086	1,889	1,626	1,499	2,120	1,759	1,741	3,447	3,118	3,087
Accounts Payable	3,692	4,069	3,823	3,988	3,614	3,824	3,706	4,194	3,868	4,023	3,786
Other Current Liabilities	1,816	1,805	1,577	1,419	1,950	1,958	1,603	1,601	2,103	2,068	1,722
Other Current Nonoperating Liabilities	21	65	-	0.00	-	-	-	-	0.00	0.00	0.00
Total Noncurrent Liabilities	15,317	15,923	14,953	14,788	14,107	13,699	13,737	13,216	11,298	11,740	11,686
Long-Term Debt	11,840	12,436	11,431	11,304	11,015	10,531	10,524	9,965	8,140	8,623	8,475
Noncurrent Deferred & Payable Income Tax Liabilities	2,264	2,233	2,195	2,201	2,024	2,027	2,085	2,111	2,152	2,187	2,262
Other Noncurrent Operating Liabilities	1,214	1,254	1,327	1,284	1,069	1,142	1,128	1,140	1,006	930	949
Redeemable Noncontrolling Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,513	9,449	9,527	9,649	9,691	9,632	10,515	10,700	10,484	10,372	10,826
Total Preferred & Common Equity	9,263	9,201	9,276	9,397	9,437	9,379	10,262	10,450	10,235	10,121	10,575
Total Common Equity	9,263	9,201	9,276	9,397	9,437	9,379	10,262	10,450	10,235	10,121	10,575
Common Stock	1,270	1,258	1,240	1,303	1,286	1,277	1,261	1,298	1,267	1,231	1,222
Retained Earnings	21,636	21,340	21,214	20,972	20,417	20,081	20,164	19,839	19,227	18,992	19,028
Treasury Stock	-11,169	-10,873	-10,602	-10,358	-9,968	-9,677	-8,874	-8,410	-8,220	-8,024	-7,676
Accumulated Other Comprehensive Income / (Loss)	-2,474	-2,524	-2,577	-2,520	-2,297	-2,302	-2,288	-2,277	-2,039	-2,078	-1,998
Noncontrolling Interest	249	249	251	252	255	253	253	250	249	251	251

This table displays calculated financial ratios and metrics derived from General Mills' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	5/26/2024	5/28/2023	5/29/2022	5/30/2021	5/31/2020	5/26/2019	5/27/2018	5/28/2017	5/29/2016	5/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.18%	5.80%	4.78%	2.84%	4.51%	7.15%	0.77%	-5.70%	-6.05%	-1.56%
EBITDA Growth	-0.22%	-2.17%	7.23%	5.94%	-77.29%	415.31%	-1.32%	-4.39%	24.38%	-24.76%
EBIT Growth	-0.43%	-1.86%	9.50%	6.88%	-70.56%	315.06%	-2.22%	-5.21%	30.33%	-29.76%
NOPAT Growth	-0.23%	-2.69%	15.84%	1.84%	-61.71%	167.03%	32.46%	-4.25%	34.02%	-29.80%
Net Income Growth	-3.49%	-4.59%	16.58%	6.12%	23.77%	-87.10%	27.15%	-2.06%	37.91%	-32.34%
EPS Growth	0.00%	-2.49%	16.93%	6.18%	22.76%	-81.32%	31.41%	0.00%	40.61%	-30.39%
Operating Cash Flow Growth	18.86%	-16.21%	11.16%	-18.85%	30.97%	-5.98%	17.63%	-12.63%	0.24%	8.52%
Free Cash Flow Firm Growth	-7.86%	-0.81%	53.52%	-98.12%	213.15%	-1,242.26%	-568.31%	-58.06%	35.38%	63.01%
Invested Capital Growth	1.56%	0.65%	0.91%	3.51%	-81.10%	-12.85%	58.53%	3.56%	-8.04%	-5.53%
Revenue Q/Q Growth	-1.57%	0.70%	1.97%	-2.68%	5.14%	8.18%	0.53%	-0.77%	-2.19%	0.09%
EBITDA Q/Q Growth	-0.92%	-4.85%	12.34%	-6.32%	2.63%	424.59%	3.74%	2.11%	4.11%	-8.79%
EBIT Q/Q Growth	-1.20%	-5.45%	14.84%	-7.62%	3.75%	329.65%	3.47%	3.10%	4.17%	-11.06%
NOPAT Q/Q Growth	-1.41%	-7.03%	18.57%	-9.09%	2.11%	236.27%	2.34%	-1.66%	12.13%	-14.04%
Net Income Q/Q Growth	-2.34%	-7.31%	18.44%	-8.83%	2.12%	42.82%	-2.59%	1.50%	11.28%	-15.28%
EPS Q/Q Growth	-1.15%	-6.91%	17.87%	-8.25%	2.30%	54.90%	-2.67%	2.59%	13.06%	-15.09%
Operating Cash Flow Q/Q Growth	3.51%	-10.80%	10.41%	-19.90%	25.07%	13.48%	-1.75%	-14.70%	-6.93%	25.57%
Free Cash Flow Firm Q/Q Growth	-8.17%	-13.17%	48.99%	-46.76%	2,748.18%	-1,348.85%	-482.56%	-28.05%	-17.97%	74.04%
Invested Capital Q/Q Growth	2.52%	1.72%	0.83%	2.89%	-3.10%	392.98%	53.05%	1.53%	-1.82%	-6.99%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.91%	32.58%	33.71%	35.57%	34.78%	170.67%	34.53%	35.65%	35.20%	33.74%
EBITDA Margin	20.45%	20.25%	21.90%	21.40%	20.77%	95.58%	19.87%	20.29%	20.02%	15.12%
Operating Margin	17.28%	17.09%	18.30%	17.35%	16.76%	75.48%	15.37%	16.00%	16.35%	11.78%
EBIT Margin	17.66%	17.53%	18.90%	18.08%	17.40%	61.76%	15.94%	16.43%	16.35%	11.78%
Profit (Net Income) Margin	12.68%	12.99%	14.40%	12.94%	12.54%	42.36%	13.74%	10.89%	10.49%	7.14%
Tax Burden Percent	83.17%	83.10%	85.21%	82.10%	85.02%	343.17%	101.28%	74.90%	72.26%	71.48%
Interest Burden Percent	86.34%	89.15%	89.42%	87.18%	84.79%	319.84%	85.11%	88.50%	88.78%	84.82%
Effective Tax Rate	19.63%	19.49%	18.27%	22.02%	18.48%	88.33%	2.68%	28.85%	31.42%	33.31%
Return on Invested Capital (ROIC)	12.54%	12.71%	13.16%	11.61%	3.69%	9.39%	12.73%	12.64%	12.87%	8.96%
ROIC Less NNEP Spread (ROIC-NNEP)	10.52%	11.30%	12.20%	10.69%	2.96%	7.29%	11.14%	11.70%	11.42%	7.45%
Return on Net Nonoperating Assets (RNNOA)	12.21%	11.58%	12.68%	12.73%	9.50%	14.13%	20.90%	16.32%	15.31%	8.83%
Return on Equity (ROE)	24.75%	24.29%	25.84%	24.35%	13.19%	70.56%	33.63%	28.96%	28.19%	17.79%
Cash Return on Invested Capital (CROIC)	10.99%	12.06%	12.26%	8.16%	140.10%	-362.04%	-32.55%	9.14%	21.25%	14.64%
Operating Return on Assets (OROA)	11.15%	11.26%	11.41%	10.46%	10.07%	34.30%	9.57%	11.79%	12.44%	9.24%
Return on Assets (ROA)	8.01%	8.35%	8.69%	7.49%	7.26%	23.53%	8.25%	7.82%	7.98%	5.60%
Return on Common Equity (ROCE)	24.14%	23.73%	24.44%	22.14%	11.85%	102.18%	27.36%	22.82%	22.70%	14.48%
Return on Equity Simple (ROE_SIMPLE)	26.80%	24.97%	25.94%	24.77%	27.43%	-	35.22%	39.31%	35.23%	25.20%
Net Operating Profit after Tax (NOPAT)	2,758	2,764	2,841	2,452	2,408	6,288	2,355	1,778	1,857	1,385
NOPAT Margin	13.89%	13.76%	14.96%	13.53%	13.66%	37.29%	14.96%	11.38%	11.21%	7.86%
Net Nonoperating Expense Percent (NNEP)	2.03%	1.41%	0.96%	0.93%	0.73%	2.10%	1.59%	0.94%	1.45%	1.50%
Cost of Revenue to Revenue	65.09%	67.42%	66.29%	64.43%	65.22%	329.33%	65.47%	64.35%	64.80%	66.26%
SG&A Expenses to Revenue	16.41%	17.42%	16.57%	16.99%	17.88%	69.63%	18.11%	18.49%	18.83%	18.88%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	17.63%	15.49%	15.41%	18.22%	18.02%	95.19%	19.16%	19.65%	18.85%	21.96%
Earnings before Interest and Taxes (EBIT)	3,508	3,523	3,589	3,278	3,067	10,415	2,509	2,566	2,707	2,077
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,060	4,069	4,160	3,879	3,661	16,120	3,128	3,170	3,316	2,666
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.10	4.57	3.75	3.72	4.22	17.90	3.25	6.03	5.81	4.98
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.94	2.38	2.08	1.94	1.93	7.49	1.27	1.67	1.73	1.41
Price to Earnings (P/E)	15.44	18.41	14.62	15.06	15.57	90.13	9.36	15.75	16.89	20.39
Dividend Yield	3.46%	2.66%	3.10%	3.50%	3.50%	11.20%	5.60%	4.24%	3.69%	4.00%
Earnings Yield	6.47%	5.43%	6.84%	6.64%	6.42%	16.68%	10.68%	6.35%	5.92%	4.91%
Enterprise Value to Invested Capital (EV/IC)	2.32	2.71	2.35	2.20	2.25	8.46	1.61	2.52	2.72	2.32
Enterprise Value to Revenue (EV/Rev)	2.58	2.94	2.68	2.61	2.65	11.02	2.32	2.31	2.27	1.98
Enterprise Value to EBITDA (EV/EBITDA)	12.64	14.53	12.23	12.18	12.74	72.11	11.67	11.39	11.33	13.10
Enterprise Value to EBIT (EV/EBIT)	14.63	16.78	14.17	14.42	15.22	71.39	14.55	14.06	13.87	16.82
Enterprise Value to NOPAT (EV/NOPAT)	18.61	21.39	17.91	19.27	19.38	110.91	15.50	20.30	20.22	25.21
Enterprise Value to Operating Cash Flow (EV/OCF)	15.54	21.28	15.34	15.84	12.69	82.82	12.85	14.94	13.58	12.67
Enterprise Value to Free Cash Flow (EV/FCFF)	21.23	22.53	19.23	27.42	0.51	0.00	0.00	28.07	12.25	15.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.34	1.09	1.08	1.22	1.52	7.32	2.18	1.69	1.37	1.49
Long-Term Debt to Equity	1.17	0.93	0.85	0.94	1.23	7.34	1.74	1.37	1.15	1.23
Financial Leverage	1.16	1.02	1.04	1.19	3.21	9.70	1.88	1.39	1.34	1.18
Leverage Ratio	3.09	2.91	2.97	3.25	3.62	16.00	4.08	3.70	3.53	3.18
Compound Leverage Factor	2.67	2.59	2.66	2.83	3.07	15.99	3.47	3.28	3.14	2.69
Debt to Total Capital	57.27%	52.24%	51.86%	54.86%	60.35%	258.64%	68.52%	62.88%	57.81%	59.83%
Short-Term Debt to Total Capital	7.20%	7.77%	11.09%	12.29%	11.64%	38.36%	13.64%	12.20%	9.42%	10.52%
Long-Term Debt to Total Capital	50.07%	44.48%	40.77%	42.57%	48.72%	207.50%	54.87%	50.69%	48.39%	49.31%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.12%	1.12%	1.10%	3.95%	3.72%	19.30%	4.88%	8.41%	8.38%	7.65%
Common Equity to Total Capital	41.62%	46.64%	47.05%	41.19%	35.92%	157.40%	26.60%	28.70%	33.81%	32.52%
Debt to EBITDA	3.18	2.88	2.79	3.25	3.70	17.98	5.06	2.99	2.54	3.45
Net Debt to EBITDA	3.08	2.73	2.66	2.86	3.24	21.78	4.93	2.75	2.31	3.32
Long-Term Debt to EBITDA	2.78	2.45	2.20	2.52	2.98	18.03	4.05	2.41	2.13	2.84
Debt to NOPAT	4.69	4.23	4.09	5.14	5.62	34.56	6.72	5.33	4.54	6.63
Net Debt to NOPAT	4.54	4.02	3.89	4.53	4.93	26.79	6.55	4.90	4.13	6.39
Long-Term Debt to NOPAT	4.10	3.60	3.22	3.99	4.54	27.73	5.38	4.30	3.80	5.47
Altman Z-Score	2.90	3.18	2.88	2.55	2.46	11.41	1.83	2.84	3.03	2.78
Noncontrolling Interest Sharing Ratio	2.47%	2.31%	5.45%	9.05%	10.11%	39.35%	18.62%	21.20%	19.45%	18.57%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.65	0.69	0.63	0.70	0.68	1.77	0.56	0.76	0.79	0.75
Quick Ratio	0.30	0.30	0.28	0.38	0.44	1.20	0.28	0.41	0.42	0.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,418	2,624	2,646	1,723	91,449	-80,820	-6,021	1,286	3,066	2,265
Operating Cash Flow to CapEx	427.08%	403.75%	586.51%	564.89%	800.74%	2,145.61%	457.27%	355.07%	381.32%	393.14%
Free Cash Flow to Firm to Interest Expense	5.05	6.87	6.97	4.10	196.03	-154.89	-16.11	4.36	10.09	7.18
Operating Cash Flow to Interest Expense	6.89	7.27	8.74	7.10	7.88	21.52	7.60	8.18	9.10	8.74
Operating Cash Flow Less CapEx to Interest Expense	5.28	5.47	7.25	5.84	6.90	17.51	5.94	5.88	6.71	6.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.64	0.60	0.58	0.58	2.78	0.60	0.72	0.76	0.78
Accounts Receivable Turnover	11.75	11.91	11.41	11.14	10.70	40.11	10.11	11.19	12.06	12.28
Inventory Turnover	6.35	6.71	6.83	7.19	7.70	34.70	6.59	6.94	7.27	7.54
Fixed Asset Turnover	5.30	5.72	5.43	5.04	4.78	21.53	4.07	4.20	4.40	4.56
Accounts Payable Turnover	3.16	3.31	3.30	3.38	3.77	19.84	4.24	4.83	5.75	7.09
Days Sales Outstanding (DSO)	31.06	30.66	32.00	32.76	34.11	145.60	36.11	32.61	30.27	29.71
Days Inventory Outstanding (DIO)	57.47	54.41	53.45	50.74	47.39	262.99	55.36	52.60	50.24	48.44
Days Payable Outstanding (DPO)	115.53	110.14	110.68	107.84	96.86	460.04	86.18	75.64	63.43	51.48
Cash Conversion Cycle (CCC)	-27.00	-25.07	-25.22	-24.35	-15.35	-9.03	5.29	9.57	17.08	26.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	22,161	21,820	21,680	21,485	20,756	109,797	22,688	14,312	13,820	15,029
Invested Capital Turnover	0.90	0.92	0.88	0.86	0.27	3.78	0.85	1.11	1.15	1.14
Increase / (Decrease) in Invested Capital	340	140	195	729	-89,041	87,109	8,376	492	-1,209	-879
Enterprise Value (EV)	51,323	59,119	50,875	47,248	46,664	232,490	36,500	36,091	37,551	34,930
Market Capitalization	38,559	47,748	39,578	35,233	33,967	94,551	19,953	26,107	28,661	24,898
Book Value per Share	$16.64	$17.79	$17.51	$15.53	$13.29	$58.75	$10.77	$7.51	$8.29	$8.38
Tangible Book Value per Share	($21.85)	($18.78)	($17.99)	($19.25)	($21.38)	($93.99)	($26.96)	($15.53)	($14.05)	($14.35)
Total Capital	22,579	22,406	22,408	22,990	22,434	89,638	23,087	15,078	14,584	15,363
Total Debt	12,930	11,706	11,620	12,612	13,540	72,450	15,819	9,482	8,431	9,192
Total Long-Term Debt	11,304	9,965	9,135	9,787	10,929	34,874	12,669	7,643	7,058	7,575
Net Debt	12,512	11,120	11,051	11,107	11,862	56,160	15,420	8,716	7,667	8,857
Capital Expenditures (CapEx)	773	688	565	528	459	2,617	621	680	725	701
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,244	-1,204	-1,014	-1,191	-1,438	-2,427	-467	-197	-468	78
Debt-free Net Working Capital (DFNWC)	-826	-619	-445	314	240	-142	-68	569	296	412
Net Working Capital (NWC)	-2,452	-2,359	-2,930	-2,511	-2,370	-14,503	-3,218	-1,269	-1,078	-1,205
Net Nonoperating Expense (NNE)	239	155	106	106	197	1,550	192	77	120	126
Net Nonoperating Obligations (NNO)	12,512	11,120	10,892	11,107	11,862	42,120	15,420	8,716	7,667	8,857
Total Depreciation and Amortization (D&A)	553	547	570	601	595	3,101	619	604	608	588
Debt-free, Cash-free Net Working Capital to Revenue	-6.27%	-5.99%	-5.34%	-6.57%	-8.16%	-14.39%	-2.97%	-1.26%	-2.83%	0.44%
Debt-free Net Working Capital to Revenue	-4.16%	-3.08%	-2.34%	1.73%	1.36%	-1.05%	-0.43%	3.65%	1.79%	2.34%
Net Working Capital to Revenue	-12.35%	-11.74%	-15.43%	-13.85%	-13.45%	-85.99%	-20.45%	-8.13%	-6.51%	-6.83%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.34	$4.36	$4.46	$3.81	$3.59	$8.76	$3.69	$2.82	$2.83	$2.02
Adjusted Weighted Average Basic Shares Outstanding	558.15M	585.18M	597.16M	607.21M	609.87M	600.40M	593.37M	577.10M	597.02M	598.74M
Adjusted Diluted Earnings per Share	$4.31	$4.31	$4.42	$3.78	$3.56	$8.70	$3.64	$2.77	$2.77	$1.97
Adjusted Weighted Average Diluted Shares Outstanding	558.15M	585.18M	597.16M	607.21M	609.87M	1.80B	593.37M	577.10M	597.02M	598.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$3.59	$5.84	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	558.15M	585.18M	597.16M	607.21M	609.87M	1.80B	593.37M	577.10M	597.02M	598.74M
Normalized Net Operating Profit after Tax (NOPAT)	2,952	2,810	2,819	2,585	2,428	6,968	2,516	1,906	1,961	1,748
Normalized NOPAT Margin	14.87%	13.98%	14.84%	14.26%	13.77%	55.09%	15.99%	12.20%	11.84%	9.92%
Pre Tax Income Margin	15.25%	15.63%	16.90%	15.76%	14.75%	61.72%	13.57%	14.54%	14.51%	9.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.32	9.22	9.46	7.80	6.57	19.96	6.71	8.70	8.91	6.59
NOPAT to Interest Expense	5.76	7.23	7.48	5.83	5.16	16.07	6.30	6.02	6.11	4.39
EBIT Less CapEx to Interest Expense	5.71	7.42	7.97	6.54	5.59	19.94	5.05	6.39	6.53	4.36
NOPAT Less CapEx to Interest Expense	4.14	5.43	5.99	4.58	4.18	15.07	4.64	3.72	3.73	2.17
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	54.98%	49.95%	50.25%	55.21%	57.37%	273.25%	55.09%	70.31%	66.56%	82.79%
Augmented Payout Ratio	134.48%	103.74%	82.31%	68.06%	57.52%	341.87%	82.90%	167.40%	101.49%	175.05%

This table displays calculated financial ratios and metrics derived from General Mills' official financial filings.

Metric	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023
Period end date	2/23/2025	11/24/2024	8/25/2024	5/26/2024	2/25/2024	11/26/2023	8/27/2023	5/28/2023	2/26/2023	11/27/2022	8/28/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.04%	1.96%	-1.15%	-6.28%	-0.52%	-1.56%	3.97%	2.84%	12.96%	3.92%	3.91%
EBITDA Growth	-3.36%	27.14%	-9.15%	-3.87%	21.01%	-0.06%	-12.68%	-17.49%	-9.86%	-0.81%	21.76%
EBIT Growth	-2.58%	31.23%	-10.73%	-5.07%	23.61%	1.27%	-14.48%	-19.43%	-10.76%	-0.76%	26.71%
NOPAT Growth	-3.72%	30.98%	-11.65%	-5.97%	21.86%	2.91%	-13.98%	-23.97%	-10.73%	1.97%	29.43%
Net Income Growth	-6.70%	33.21%	-14.21%	-9.74%	21.22%	-0.99%	-17.37%	-24.91%	-15.80%	-0.02%	29.00%
EPS Growth	-4.27%	39.22%	-9.65%	-4.85%	27.17%	0.99%	-15.56%	-23.70%	-14.81%	4.12%	32.35%
Operating Cash Flow Growth	-43.60%	2.93%	65.09%	14.91%	14.14%	37.66%	-2.75%	-30.92%	13.15%	-28.02%	5.14%
Free Cash Flow Firm Growth	-123.79%	286.44%	160.29%	-45.88%	-12.18%	-17.49%	-81.07%	-22.77%	959.24%	491.35%	515.01%
Invested Capital Growth	3.94%	-3.81%	0.32%	1.56%	0.77%	1.03%	2.36%	0.65%	-0.23%	0.51%	-1.44%
Revenue Q/Q Growth	-7.59%	8.09%	2.85%	-7.56%	-0.78%	4.79%	-2.49%	-1.87%	-1.82%	10.66%	-3.55%
EBITDA Q/Q Growth	-14.87%	23.98%	4.81%	-12.63%	11.99%	-11.41%	10.90%	9.98%	-7.51%	-22.59%	4.79%
EBIT Q/Q Growth	-17.07%	29.13%	5.77%	-13.99%	11.71%	-12.15%	12.47%	12.00%	-8.48%	-25.81%	5.95%
NOPAT Q/Q Growth	-16.97%	32.39%	4.43%	-16.13%	12.96%	-10.70%	11.15%	8.68%	-4.61%	-25.35%	-1.76%
Net Income Q/Q Growth	-21.35%	37.47%	4.27%	-17.24%	12.29%	-11.47%	9.71%	11.15%	-8.29%	-26.11%	-0.30%
EPS Q/Q Growth	-21.13%	37.86%	5.10%	-16.24%	14.71%	-10.53%	10.68%	11.96%	-8.91%	-25.19%	0.00%
Operating Cash Flow Q/Q Growth	-53.77%	84.32%	-27.73%	-8.42%	-15.62%	195.61%	-49.69%	-9.04%	1.77%	108.82%	-64.26%
Free Cash Flow Firm Q/Q Growth	-108.15%	191.81%	104.75%	-51.13%	32.35%	96.55%	-57.43%	-20.70%	24.35%	-54.91%	73.71%
Invested Capital Q/Q Growth	7.70%	-6.78%	0.99%	2.52%	-0.33%	-2.77%	2.23%	1.72%	-0.07%	-1.49%	0.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.85%	36.85%	34.83%	35.82%	33.48%	34.36%	36.10%	34.36%	32.48%	32.66%	30.69%
EBITDA Margin	21.47%	23.30%	20.32%	19.94%	21.10%	18.69%	22.11%	19.44%	17.34%	18.41%	26.32%
Operating Margin	18.41%	20.57%	17.15%	16.53%	17.86%	15.80%	18.96%	16.27%	14.25%	15.32%	23.01%
EBIT Margin	18.70%	20.83%	17.44%	16.96%	18.22%	16.19%	19.31%	16.74%	14.67%	15.74%	23.47%
Profit (Net Income) Margin	13.03%	15.31%	12.04%	11.87%	13.26%	11.72%	13.87%	12.33%	10.88%	11.65%	17.45%
Tax Burden Percent	82.05%	82.96%	80.85%	82.72%	83.74%	84.34%	81.96%	84.09%	85.37%	83.33%	80.75%
Interest Burden Percent	84.94%	88.59%	85.38%	84.65%	86.90%	85.84%	87.65%	87.58%	86.92%	88.86%	92.08%
Effective Tax Rate	19.82%	20.14%	21.81%	20.10%	18.49%	19.05%	20.87%	19.08%	16.57%	20.15%	21.19%
Return on Invested Capital (ROIC)	13.15%	15.37%	11.89%	11.93%	13.64%	11.97%	13.80%	12.16%	11.04%	11.06%	15.84%
ROIC Less NNEP Spread (ROIC-NNEP)	12.48%	14.87%	11.34%	11.39%	13.06%	11.50%	13.31%	11.78%	10.58%	10.79%	15.55%
Return on Net Nonoperating Assets (RNNOA)	16.17%	18.29%	13.95%	13.23%	14.82%	13.31%	14.20%	12.07%	11.53%	11.49%	16.36%
Return on Equity (ROE)	29.33%	33.65%	25.83%	25.16%	28.46%	25.28%	28.00%	24.23%	22.57%	22.56%	32.20%
Cash Return on Invested Capital (CROIC)	9.06%	17.40%	11.64%	10.99%	12.23%	11.33%	9.67%	12.06%	14.07%	13.72%	15.27%
Operating Return on Assets (OROA)	11.56%	12.83%	10.95%	10.70%	11.85%	10.45%	12.55%	10.76%	9.39%	9.55%	14.19%
Return on Assets (ROA)	8.05%	9.43%	7.56%	7.49%	8.62%	7.57%	9.01%	7.92%	6.97%	7.07%	10.55%
Return on Common Equity (ROCE)	28.56%	32.77%	25.18%	24.54%	27.75%	24.64%	27.34%	23.67%	22.01%	21.37%	30.50%
Return on Equity Simple (ROE_SIMPLE)	27.82%	28.50%	26.11%	0.00%	27.33%	26.24%	24.04%	0.00%	27.51%	28.85%	27.61%
Net Operating Profit after Tax (NOPAT)	715	861	650	623	742	657	736	662	609	639	856
NOPAT Margin	14.76%	16.43%	13.41%	13.21%	14.56%	12.79%	15.00%	13.16%	11.88%	12.23%	18.13%
Net Nonoperating Expense Percent (NNEP)	0.67%	0.50%	0.54%	0.53%	0.58%	0.47%	0.49%	0.38%	0.46%	0.27%	0.29%
Return On Investment Capital (ROIC_SIMPLE)	3.02%	3.59%	-	-	3.34%	2.95%	-	-	-	-	-
Cost of Revenue to Revenue	66.15%	63.15%	65.17%	64.18%	66.52%	65.64%	63.90%	65.64%	67.52%	67.34%	69.31%
SG&A Expenses to Revenue	17.44%	16.26%	17.64%	16.94%	15.51%	16.16%	17.11%	17.25%	18.47%	17.13%	16.78%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.44%	16.28%	17.68%	19.29%	15.62%	18.56%	17.14%	18.09%	18.23%	17.34%	7.68%
Earnings before Interest and Taxes (EBIT)	905	1,092	845	799	929	832	947	842	752	822	1,107
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,040	1,221	985	940	1,076	961	1,084	978	889	961	1,242
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.63	3.92	4.26	4.10	3.79	3.90	3.76	4.57	4.50	4.68	4.12
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.71	1.81	2.00	1.94	1.77	1.81	1.90	2.38	2.31	2.45	2.27
Price to Earnings (P/E)	13.14	13.86	16.45	15.44	14.01	15.00	15.76	18.41	16.42	16.28	15.01
Dividend Yield	3.92%	3.66%	3.35%	3.46%	3.67%	3.59%	3.35%	2.66%	2.73%	2.63%	2.84%
Earnings Yield	7.61%	7.21%	6.08%	6.47%	7.14%	6.67%	6.35%	5.43%	6.09%	6.14%	6.66%
Enterprise Value to Invested Capital (EV/IC)	2.12	2.33	2.35	2.32	2.22	2.25	2.27	2.71	2.67	2.73	2.51
Enterprise Value to Revenue (EV/Rev)	2.42	2.44	2.66	2.58	2.38	2.42	2.50	2.94	2.87	3.03	2.86
Enterprise Value to EBITDA (EV/EBITDA)	11.36	11.50	13.29	12.64	11.70	12.50	12.94	14.53	13.38	13.42	12.50
Enterprise Value to EBIT (EV/EBIT)	13.05	13.25	15.45	14.63	13.51	14.49	15.05	16.78	15.36	15.38	14.32
Enterprise Value to NOPAT (EV/NOPAT)	16.69	16.88	19.69	18.61	17.14	18.34	19.13	21.39	19.25	19.27	18.04
Enterprise Value to Operating Cash Flow (EV/OCF)	15.00	13.56	14.83	15.54	15.03	15.90	18.28	21.28	18.37	19.45	16.42
Enterprise Value to Free Cash Flow (EV/FCFF)	23.82	13.12	20.24	21.23	18.21	20.00	23.74	22.53	18.94	19.99	16.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.49	1.54	1.40	1.34	1.29	1.31	1.17	1.09	1.11	1.13	1.07
Long-Term Debt to Equity	1.24	1.32	1.20	1.17	1.14	1.09	1.00	0.93	0.78	0.83	0.78
Financial Leverage	1.30	1.23	1.23	1.16	1.13	1.16	1.07	1.02	1.09	1.07	1.05
Leverage Ratio	3.31	3.39	3.15	3.09	3.08	3.13	2.93	2.91	3.03	3.08	2.97
Compound Leverage Factor	2.81	3.00	2.69	2.62	2.67	2.68	2.56	2.55	2.64	2.73	2.73
Debt to Total Capital	59.86%	60.58%	58.30%	57.27%	56.36%	56.77%	53.88%	52.24%	52.50%	53.09%	51.64%
Short-Term Debt to Total Capital	9.91%	8.70%	8.27%	7.20%	6.75%	9.52%	7.72%	7.77%	15.62%	14.10%	13.79%
Long-Term Debt to Total Capital	49.96%	51.88%	50.03%	50.07%	49.61%	47.26%	46.16%	44.48%	36.88%	38.99%	37.85%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.05%	1.04%	1.10%	1.12%	1.15%	1.14%	1.11%	1.12%	1.13%	1.13%	1.12%
Common Equity to Total Capital	39.09%	38.38%	40.60%	41.62%	42.50%	42.09%	45.01%	46.64%	46.37%	45.77%	47.24%
Debt to EBITDA	3.39	3.44	3.36	3.18	3.05	3.23	3.14	2.88	2.71	2.68	2.64
Net Debt to EBITDA	3.27	2.90	3.24	3.08	2.91	3.08	3.01	2.73	2.56	2.54	2.50
Long-Term Debt to EBITDA	2.83	2.95	2.89	2.78	2.69	2.69	2.69	2.45	1.90	1.97	1.93
Debt to NOPAT	4.98	5.05	4.98	4.69	4.47	4.75	4.64	4.23	3.90	3.85	3.81
Net Debt to NOPAT	4.80	4.25	4.81	4.54	4.26	4.53	4.46	4.02	3.69	3.64	3.61
Long-Term Debt to NOPAT	4.16	4.32	4.28	4.10	3.94	3.95	3.98	3.60	2.74	2.83	2.79
Altman Z-Score	2.39	2.48	2.62	2.61	2.60	2.54	2.69	2.90	2.75	2.76	2.74
Noncontrolling Interest Sharing Ratio	2.62%	2.63%	2.51%	2.47%	2.50%	2.52%	2.36%	2.31%	2.49%	5.27%	5.27%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.67	0.92	0.66	0.65	0.66	0.64	0.72	0.69	0.54	0.58	0.60
Quick Ratio	0.29	0.51	0.32	0.30	0.33	0.30	0.32	0.30	0.25	0.27	0.27
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-137	1,687	578	282	578	437	222	522	658	529	1,174
Operating Cash Flow to CapEx	512.43%	716.38%	446.81%	300.00%	492.22%	734.85%	266.83%	222.56%	664.76%	600.07%	427.72%
Free Cash Flow to Firm to Interest Expense	-1.01	13.54	4.68	2.30	4.75	3.71	1.90	4.99	6.69	5.78	13.38
Operating Cash Flow to Interest Expense	3.90	9.23	5.05	7.04	7.75	9.49	3.23	7.19	8.41	8.87	4.43
Operating Cash Flow Less CapEx to Interest Expense	3.14	7.94	3.92	4.69	6.18	8.20	2.02	3.96	7.14	7.39	3.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.62	0.62	0.63	0.63	0.65	0.65	0.65	0.64	0.64	0.61	0.60
Accounts Receivable Turnover	11.03	11.24	10.89	11.75	11.39	11.24	11.52	11.91	11.34	10.76	11.20
Inventory Turnover	6.98	6.23	6.13	6.35	6.75	6.19	6.21	6.71	7.05	6.66	6.42
Fixed Asset Turnover	5.53	5.64	5.38	5.30	5.77	5.81	5.84	5.72	6.01	5.83	5.72
Accounts Payable Turnover	3.48	3.27	3.44	3.16	3.53	3.38	3.58	3.31	3.64	3.49	3.65
Days Sales Outstanding (DSO)	33.09	32.47	33.50	31.06	32.04	32.46	31.69	30.66	32.20	33.92	32.58
Days Inventory Outstanding (DIO)	52.31	58.55	59.54	57.47	54.07	58.96	58.76	54.41	51.79	54.84	56.86
Days Payable Outstanding (DPO)	105.01	111.79	106.10	115.53	103.43	107.91	101.94	110.14	100.24	104.58	99.94
Cash Conversion Cycle (CCC)	-19.60	-20.77	-13.06	-27.00	-17.32	-16.49	-11.49	-25.07	-16.26	-15.81	-10.50
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	22,469	20,862	22,379	22,161	21,617	21,689	22,307	21,820	21,452	21,468	21,793
Invested Capital Turnover	0.89	0.94	0.89	0.90	0.94	0.94	0.92	0.92	0.93	0.90	0.87
Increase / (Decrease) in Invested Capital	852	-826	72	340	165	221	514	140	-49	110	-318
Enterprise Value (EV)	47,541	48,563	52,637	51,323	47,951	48,872	50,610	59,119	57,237	58,711	54,748
Market Capitalization	33,625	36,085	39,533	38,559	35,771	36,562	38,565	47,748	46,019	47,364	43,529
Book Value per Share	$16.80	$16.57	$16.62	$16.64	$16.62	$16.13	$17.54	$17.79	$17.36	$17.05	$17.71
Tangible Book Value per Share	($24.15)	($21.56)	($22.39)	($21.85)	($21.05)	($20.69)	($19.18)	($18.78)	($19.03)	($19.09)	($18.18)
Total Capital	23,700	23,971	22,847	22,579	22,205	22,283	22,798	22,406	22,071	22,112	22,388
Total Debt	14,187	14,522	13,320	12,930	12,514	12,651	12,282	11,706	11,587	11,740	11,562
Total Long-Term Debt	11,840	12,436	11,431	11,304	11,015	10,531	10,524	9,965	8,140	8,623	8,475
Net Debt	13,666	12,229	12,852	12,512	11,925	12,057	11,792	11,120	10,969	11,096	10,968
Capital Expenditures (CapEx)	104	161	140	288	192	152	142	338	124	135	91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-794	-850	-1,055	-1,244	-1,497	-1,330	-693	-1,204	-1,474	-1,404	-969
Debt-free Net Working Capital (DFNWC)	-273	1,443	-587	-826	-909	-736	-202	-619	-855	-760	-374
Net Working Capital (NWC)	-2,620	-643	-2,476	-2,452	-2,407	-2,857	-1,961	-2,359	-4,302	-3,878	-3,462
Net Nonoperating Expense (NNE)	84	58	67	63	66	55	56	42	51	30	32
Net Nonoperating Obligations (NNO)	12,956	11,413	12,852	12,512	11,925	12,057	11,792	11,120	10,969	11,096	10,968
Total Depreciation and Amortization (D&A)	134	130	140	141	146	129	137	136	137	140	134
Debt-free, Cash-free Net Working Capital to Revenue	-4.04%	-4.27%	-5.33%	-6.27%	-7.42%	-6.59%	-3.42%	-5.99%	-7.39%	-7.25%	-5.05%
Debt-free Net Working Capital to Revenue	-1.39%	7.25%	-2.96%	-4.16%	-4.50%	-3.65%	-1.00%	-3.08%	-4.29%	-3.92%	-1.95%
Net Working Capital to Revenue	-13.34%	-3.23%	-12.50%	-12.35%	-11.93%	-14.14%	-9.67%	-11.74%	-21.56%	-20.02%	-18.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.14	$1.43	$1.03	$0.98	$1.18	$1.03	$1.15	$1.04	$0.94	$1.01	$1.37
Adjusted Weighted Average Basic Shares Outstanding	547.60M	551.23M	555.16M	558.15M	564.55M	567.89M	581.28M	585.18M	587.35M	589.61M	593.54M
Adjusted Diluted Earnings per Share	$1.12	$1.42	$1.03	$0.98	$1.17	$1.02	$1.14	$1.03	$0.92	$1.01	$1.35
Adjusted Weighted Average Diluted Shares Outstanding	547.60M	551.23M	555.16M	558.15M	564.55M	567.89M	581.28M	585.18M	587.35M	589.61M	593.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	547.60M	551.23M	555.16M	558.15M	564.55M	567.89M	581.28M	585.18M	587.35M	589.61M	593.54M
Normalized Net Operating Profit after Tax (NOPAT)	714	862	652	711	747	757	737	696	610	647	857
Normalized NOPAT Margin	14.75%	16.45%	13.45%	15.09%	14.65%	14.73%	15.02%	13.84%	11.91%	12.40%	18.16%
Pre Tax Income Margin	15.88%	18.46%	14.89%	14.35%	15.84%	13.89%	16.92%	14.66%	12.75%	13.98%	21.61%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.64	8.76	6.84	6.51	7.64	7.06	8.09	8.05	7.65	8.98	12.63
NOPAT to Interest Expense	5.24	6.91	5.26	5.07	6.10	5.58	6.29	6.33	6.20	6.98	9.76
EBIT Less CapEx to Interest Expense	5.88	7.47	5.71	4.17	6.06	5.77	6.88	4.82	6.38	7.50	11.59
NOPAT Less CapEx to Interest Expense	4.48	5.62	4.13	2.73	4.53	4.29	5.08	3.10	4.93	5.50	8.72
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	53.01%	52.26%	56.76%	54.98%	53.10%	55.02%	53.90%	49.95%	46.47%	47.99%	47.53%
Augmented Payout Ratio	103.57%	101.90%	131.16%	134.48%	124.94%	128.33%	110.79%	103.74%	98.99%	96.04%	89.56%

Frequently Asked Questions About General Mills' Financials

When does General Mills's fiscal year end?

According to the most recent income statement we have on file, General Mills' financial year ends in May. Their financial year 2024 ended on May 26, 2024.

How has General Mills' net income changed over the last 9 years?

General Mills' net income appears to be on an upward trend, with a most recent value of $2.52 billion in 2024, rising from $1.26 billion in 2015. The previous period was $2.61 billion in 2023. Find out what analysts predict for General Mills in the coming months.

What is General Mills's operating income?

General Mills's total operating income in 2024 was $3.43 billion, based on the following breakdown:

Total Gross Profit: $6.93 billion
Total Operating Expenses: $3.50 billion

How has General Mills revenue changed over the last 9 years?

Over the last 9 years, General Mills' total revenue changed from $17.63 billion in 2015 to $19.86 billion in 2024, a change of 12.6%.

How much debt does General Mills have?

General Mills' total liabilities were at $21.82 billion at the end of 2024, a 5.2% increase from 2023, and a 39.3% increase since 2015.

How much cash does General Mills have?

In the past 9 years, General Mills' cash and equivalents has ranged from $334.20 million in 2015 to $1.68 billion in 2020, and is currently $418 million as of their latest financial filing in 2024.

How has General Mills' book value per share changed over the last 9 years?

Over the last 9 years, General Mills' book value per share changed from 8.38 in 2015 to 16.64 in 2024, a change of 98.6%.

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This page (NYSE:GIS) was last updated on 5/21/2025 by MarketBeat.com Staff

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General Mills (GIS) Financials

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General Mills (GIS) Financials

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