General Mills (GIS) Financials

$59.02 +1.05 (+1.81%)

As of 03:59 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,221	1,697	1,658	2,131	1,753	2,181	2,340	2,707	2,594	2,497
Consolidated Net Income / (Loss)	1,259	1,737	1,701	2,163	1,786	2,211	2,346	2,735	2,610	2,519
Net Income / (Loss) Continuing Operations	1,259	1,737	1,701	2,163	1,786	2,211	2,346	2,735	2,610	2,519
Total Pre-Tax Income	1,762	2,404	2,271	2,136	2,082	2,600	2,857	3,210	3,141	3,028
Total Operating Income	2,077	2,707	2,499	2,420	2,516	2,954	3,145	3,476	3,434	3,432
Total Gross Profit	5,949	5,830	5,568	5,436	5,757	6,130	6,448	6,402	6,546	6,932
Total Revenue	17,630	16,563	15,620	15,740	16,865	17,627	18,127	18,993	20,094	19,857
Operating Revenue	17,630	16,563	15,620	15,740	16,865	17,627	18,127	18,993	20,094	19,857
Total Cost of Revenue	11,681	10,734	10,052	10,305	11,108	11,497	11,679	12,591	13,548	12,925
Operating Cost of Revenue	11,681	10,734	10,052	10,305	11,108	11,497	11,679	12,591	13,548	12,925
Total Operating Expenses	3,872	3,122	3,069	3,016	3,241	3,176	3,304	2,926	3,112	3,500
Selling, General & Admin Expense	3,328	3,119	2,889	2,850	2,936	3,152	3,080	3,147	3,500	3,259
Other Operating Expenses / (Income)	0.00	-148	-	-	30	0.00	54	-194	-445	0.00
Restructuring Charge	544	151	180	166	275	24	170	-27	56	241
Total Other Income / (Expense), net	-315	-304	-227	-284	-434	-354	-287	-266	-293	-403
Interest Expense	315	304	295	374	522	467	420	380	382	479
Other Income / (Expense), net	-	-	68	89	88	113	133	113	89	76
Income Tax Expense	587	755	655	57	368	481	629	586	612	595
Other Gains / (Losses), net	84	88	85	85	72	91	118	112	81	85
Net Income / (Loss) Attributable to Noncontrolling Interest	38	39	44	32	34	30	6.20	28	16	22
Basic Earnings per Share	$2.02	$2.83	$2.82	$3.69	$2.92	$3.59	$3.81	$4.46	$4.36	$4.34
Weighted Average Basic Shares Outstanding	603.30M	598.90M	587.10M	576.80M	600.40M	609.87M	607.21M	597.16M	585.18M	558.15M
Diluted Earnings per Share	$1.97	$2.77	$2.77	$3.64	$2.90	$3.56	$3.78	$4.42	$4.31	$4.31
Weighted Average Diluted Shares Outstanding	603.30M	598.90M	587.10M	576.80M	600.40M	609.87M	607.21M	597.16M	585.18M	558.15M
Weighted Average Basic & Diluted Shares Outstanding	603.30M	598.90M	587.10M	576.80M	600.40M	609.87M	607.21M	597.16M	585.18M	558.15M
Cash Dividends to Common per Share	$1.67	$1.78	$1.92	$1.96	$1.96	$1.96	$2.02	$2.04	$2.16	$2.36

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Net Income / (Loss) Attributable to Common Shareholders	820	606	553	615	674	596	670	558	580	796	626
Consolidated Net Income / (Loss)	823	608	558	620	680	602	676	560	584	802	631
Net Income / (Loss) Continuing Operations	823	608	558	620	680	602	676	560	584	802	631
Total Pre-Tax Income	1,020	730	654	737	830	714	808	677	722	967	769
Total Operating Income	1,086	800	730	818	930	812	911	779	832	1,078	891
Total Gross Profit	1,448	1,705	1,665	1,728	1,771	1,766	1,707	1,688	1,689	1,931	1,639
Total Revenue	4,718	5,221	5,126	5,030	4,905	5,139	5,099	4,714	4,848	5,240	4,842
Operating Revenue	4,718	5,221	5,126	5,030	4,905	5,139	5,099	4,714	4,848	5,240	4,842
Total Cost of Revenue	3,270	3,516	3,461	3,302	3,134	3,374	3,392	3,026	3,159	3,309	3,203
Operating Cost of Revenue	3,270	3,516	3,461	3,302	3,134	3,374	3,392	3,026	3,159	3,309	3,203
Total Operating Expenses	362	905	935	910	841	954	797	909	857	853	748
Selling, General & Admin Expense	791	894	947	868	839	831	791	798	855	852	844
Other Operating Expenses / (Income)	-431	0.00	-14	-	0.00	0.00	0.00	-	0.00	0.00	-96
Restructuring Charge	1.60	11	1.40	42	1.20	124	5.80	111	2.20	1.20	-0.80
Total Other Income / (Expense), net	-66	-70	-77	-81	-100	-98	-103	-103	-110	-111	-122
Interest Expense	88	92	98	105	117	118	122	123	124	125	136
Other Income / (Expense), net	22	22	22	24	17	20	19	20	14	14	14
Income Tax Expense	216	147	108	141	173	136	149	136	157	195	152
Other Gains / (Losses), net	20	25	13	23	24	24	18	19	19	30	14
Net Income / (Loss) Attributable to Noncontrolling Interest	3.30	2.40	4.80	5.20	6.80	6.80	6.20	2.20	3.70	6.60	5.40
Basic Earnings per Share	$1.37	$1.01	$0.94	$1.04	$1.15	$1.03	$1.18	$0.98	$1.03	$1.43	$1.14
Weighted Average Basic Shares Outstanding	593.54M	589.61M	587.35M	585.18M	581.28M	567.89M	564.55M	558.15M	555.16M	551.23M	547.60M
Diluted Earnings per Share	$1.35	$1.01	$0.92	$1.03	$1.14	$1.02	$1.17	$0.98	$1.03	$1.42	$1.12
Weighted Average Diluted Shares Outstanding	593.54M	589.61M	587.35M	585.18M	581.28M	567.89M	564.55M	558.15M	555.16M	551.23M	547.60M
Weighted Average Basic & Diluted Shares Outstanding	593.54M	589.61M	587.35M	585.18M	581.28M	567.89M	564.55M	558.15M	555.16M	551.23M	547.60M
Cash Dividends to Common per Share	$0.00	$0.00	$0.00	$2.16	$0.00	$0.00	$0.00	$2.36	$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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	-533	430	2.40	-367	51	1,228	-173	-936	16	-168
Net Cash From Operating Activities	2,758	2,764	2,415	2,841	2,807	3,676	2,983	3,316	2,779	3,303
Net Cash From Continuing Operating Activities	2,543	2,764	2,408	2,841	2,807	3,676	2,983	3,316	2,779	3,313
Net Income / (Loss) Continuing Operations	1,259	1,737	1,701	2,163	1,786	2,211	2,346	2,735	2,610	2,519
Consolidated Net Income / (Loss)	1,259	1,737	1,701	2,163	1,786	2,211	2,346	2,735	2,610	2,519
Depreciation Expense	588	608	604	619	620	595	601	570	547	553
Non-Cash Adjustments To Reconcile Net Income	593	226	200	746	343	61	205	-278	-378	227
Changes in Operating Assets and Liabilities, net	317	193	-97	-687	58	810	-169	289	0.00	15
Net Cash From Investing Activities	-1,602	93	-647	-8,685	-557	-486	-513	-1,691	-346	-1,197
Net Cash From Continuing Investing Activities	-1,602	93	-647	-8,685	-557	-486	-513	-1,691	-346	-1,197
Purchase of Property, Plant & Equipment	-712	-729	-684	-623	-538	-461	-531	-569	-690	-774
Acquisitions	-822	-84	0.00	-8,036	-	0.00	0.00	-1,201	-252	-452
Purchase of Investments	-102	-	-	-17	-	-	-	-	-	-2.70
Sale of Property, Plant & Equipment	11	4.40	4.20	1.40	14	1.70	2.70	3.30	1.30	0.80
Divestitures	0.00	829	18	0.00	26	0.00	2.90	74	633	0.00
Sale and/or Maturity of Investments	-	-	-	-	0.10	-	-	-	-	0.00
Other Investing Activities, net	24	74	16	-11	-60	-27	12	1.90	-40	31
Net Cash From Financing Activities	-1,385	-2,420	-1,747	5,446	-2,176	-1,942	-2,716	-2,503	-2,404	-2,272
Net Cash From Continuing Financing Activities	-1,385	-2,420	-1,747	5,446	-2,176	-1,942	-2,716	-2,503	-2,404	-2,272
Repayment of Debt	-1,672	-1,048	-1,047	-708	-1,591	-2,571	-2,841	-3,169	-1,484	-976
Repurchase of Common Equity	-1,162	-607	-1,652	-602	-1.10	-3.40	-301	-877	-1,404	-2,002
Payment of Dividends	-1,043	-1,156	-1,196	-1,192	-1,220	-1,268	-1,295	-1,374	-1,304	-1,385
Issuance of Debt	2,253	219	2,035	6,878	339	1,638	1,648	2,755	1,555	2,065
Other Financing Activities, net	238	172	113	99	297	263	74	162	232	26

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

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

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

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

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

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

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

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.

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 4/14/2025 by MarketBeat.com Staff

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General Mills (GIS) Financials

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General Mills (GIS) Financials

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