General Mills Inc. (GIS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.82	$0.86	+4.9%	—	—	—
Q1 26	$0.71	$0.74	+4.2%	—	—	—
Q4 25	$0.96	$1	+4.2%	—	—	—
Q3 25	$1.22	$1.4	+14.8%	—	—	—
Q2 25	$1.06	$1.07	+0.9%	—	—	—
Q1 25	$0.99	$1.01	+2.0%	—	—	—
Q4 24	$1.05	$1.17	+11.4%	—	—	—
Q3 24	$1.16	$1.25	+7.8%	—	—	—
Q2 24	$1.08	$1.09	+0.9%	—	—	—
Q1 24	$1.06	$1.12	+5.7%	—	—	—
Q4 23	$0.92	$0.97	+5.4%	—	—	—
Q3 23	$1.06	$1.1	+3.8%	—	—	—
Q2 23	$1	$1.11	+11.0%	—	—	—
Q1 23	$1.01	$1.12	+10.9%	—	—	—
Q4 22	$0.78	$0.84	+7.7%	—	—	—
Q3 22	$1.05	$0.99	-5.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	-$0.16	—	—	$18.4B	—
FY25	—	$4.12	—	—	$19.5B	—
FY24	—	$4.34	—	—	$19.9B	—
FY23	—	$4.36	—	—	$20.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$15.6B	$15.7B	$16.9B	$17.6B	$18.1B	$19B	$20.1B	$19.9B	$19.5B	$18.4B
YoY change	-5.7%	+0.77%	+7.15%	+4.51%	+2.84%	+4.78%	+5.8%	-1.18%	-1.87%	-5.45%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	15.6B	15.7B	16.9B	17.6B	18.1B	19B	20.1B	19.9B	19.5B	18.4B
Cost of revenue	10.1B	10.3B	11.1B	11.5B	11.7B	12.6B	13.5B	12.9B	12.8B	12.2B
Gross profit	5.6B	5.4B	5.8B	6.1B	6.4B	6.4B	6.5B	6.9B	6.7B	6.2B
Gross margin	35.6%	34.5%	34.1%	34.8%	35.6%	33.7%	32.6%	34.9%	34.6%	33.6%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.9B	2.9B	2.9B	3.2B	3.1B	3.1B	3.5B	3.3B	3.4B	3.4B
Operating expenses	2.9B	2.9B	2.9B	3.2B	3.1B	3.1B	3.5B	3.3B	3.4B	3.4B
Operating income	2.7B	2.6B	2.8B	3B	3.4B	3.3B	3B	3.7B	3.3B	2.8B
Operating margin	17.2%	16.4%	16.7%	16.9%	18.6%	17.1%	15.2%	18.5%	16.9%	15.2%
Non-operating income, net	-112.6M	-76.2M	-217.2M	88.4M	-91M	334M	477.2M	-165.6M	72M	-1.9B
Pretax income	2.3B	2.1B	2.1B	2.6B	2.9B	3.2B	3.1B	3B	2.8B	405.5M
Income tax	655.2M	57.3M	367.8M	480.5M	629.1M	586.3M	612.2M	594.5M	573.7M	414.3M
Net income	1.7B	2.2B	1.8B	2.2B	2.3B	2.7B	2.6B	2.5B	2.3B	-85.3M
Net margin	10.9%	13.7%	10.6%	12.5%	12.9%	14.4%	13%	12.7%	11.9%	-0.46%
EBITDA	3.4B	3.3B	3.5B	3.7B	4.1B	3.9B	3.7B	4.3B	3.9B	3.5B
EPS	2.82	3.69	2.92	3.59	3.81	4.46	4.36	4.34	4.12	-0.16
Diluted EPS	2.77	3.64	2.9	3.56	3.78	4.42	4.31	4.31	4.1	-0.16

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	4.9B	—	—	—	—	—	—	—	4.5B	4.9B	4.4B	4.6B
Cost of revenue	3.1B	—	—	—	—	—	—	—	3B	3.2B	3.1B	3B
Gross profit	1.8B	—	—	—	—	—	—	—	1.5B	1.7B	1.4B	1.6B
Gross margin	36.1%	—	—	—	—	—	—	—	33.9%	34.8%	30.8%	34.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	839.3M	—	—	—	—	—	—	—	845.1M	842.4M	812.9M	888.1M
Operating expenses	839.3M	—	—	—	—	—	—	—	845.1M	842.4M	812.9M	888.1M
Operating income	931.2M	—	—	—	—	—	—	—	687.7M	850.1M	554M	715.4M
Operating margin	19%	—	—	—	—	—	—	—	15.2%	17.5%	12.5%	15.5%
Non-operating income, net	15.8M	—	—	—	—	—	—	—	1.1B	-106.4M	-14.1M	-2.8B
Pretax income	830M	—	—	—	—	—	—	—	1.6B	617.8M	411.5M	-2.2B
Income tax	173.2M	—	—	—	—	—	—	—	410.9M	143.9M	99.9M	-240.4M
Net income	680.3M	—	—	—	—	—	—	—	1.2B	414.3M	305.5M	-2B
Net margin	13.9%	—	—	—	—	—	—	—	26.7%	8.52%	6.89%	-43.6%
EBITDA	1.1B	1.2B	1.1B	994.5M	975.5M	1.2B	942.9M	887.6M	-211.7M	1B	708.7M	897.7M
EPS	1.15	1.03	1.18	0.98	1.03	1.43	1.14	0.53	2.22	0.78	0.57	-3.74
Diluted EPS	1.14	1.02	1.17	0.98	1.03	1.42	1.12	0.53	2.22	0.78	0.56	-3.74

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	33.3B	24.4B	29.7B	38.3B	38.6B	42.4B	50.1B	39.6B	30.1B	18.2B	18B
Enterprise value	42B	39.8B	43.7B	50.6B	49.7B	53.6B	61.4B	52.5B	45B	31.7B	31.2B
Shares outstanding	587.1M	576.8M	600.4M	608.1M	614.1M	607.5M	594.8M	575.5M	554.5M	537.7M	537.7M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	19.6	11.3	16.6	17.3	16.5	15.5	19.2	15.7	13	—	8.51
P/S	2.13	1.55	1.76	2.17	2.13	2.23	2.49	1.99	1.54	0.99	0.99
P/B	5.95	3.36	3.75	4.31	3.72	3.93	4.68	4.1	3.27	2.46	2.44
EV/EBITDA	12.5	12	12.4	13.7	12.1	13.6	16.6	12.1	11.5	9.17	9.13
EV/Sales	2.69	2.53	2.59	2.87	2.74	2.82	3.06	2.64	2.31	1.72	1.7
Earnings yield	5.11%	8.87%	6.02%	5.77%	6.08%	6.45%	5.21%	6.37%	7.71%	—	11.8%
FCF yield	5.2%	9.09%	7.65%	8.39%	6.35%	6.47%	4.17%	6.39%	7.62%	8.95%	7.25%
PEG	—	—	—	—	—	—	—	—	—	—	-0.01

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	35.6%	34.5%	34.1%	34.8%	35.6%	33.7%	32.6%	34.9%	34.6%	33.6%	34.8%
Operating margin	17.2%	16.4%	16.7%	16.9%	18.6%	17.1%	15.2%	18.5%	16.9%	15.2%	15.2%
Net margin	10.9%	13.7%	10.6%	12.5%	12.9%	14.4%	13%	12.7%	11.9%	-0.46%	-4.89%
ROE	30.4%	29.8%	22.6%	24.9%	22.6%	25.4%	24.4%	26.1%	25.2%	-1.16%	-10.5%
ROA	7.8%	7.06%	5.93%	7.18%	7.37%	8.8%	8.3%	8%	7.01%	-0.28%	5.65%
ROIC	13.3%	11.1%	10.6%	11.5%	12.2%	12.1%	11.1%	13.1%	10.9%	0%	0%
Return on tangible assets	-35.9%	-17.4%	-14.6%	-19.7%	-22.2%	-23.4%	-22.7%	-21%	-18.8%	0.73%	0.73%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	0.76	0.56	0.59	0.68	0.7	0.63	0.69	0.65	0.67	0.68	0.7
Quick ratio	0.48	0.34	0.37	0.49	0.48	0.4	0.4	0.38	0.43	0.4	0.4
Debt / equity	1.69	2.18	1.83	1.56	1.25	1.11	1.13	1.38	1.66	1.89	1.82
Debt / assets	0.43	0.52	0.48	0.45	0.41	0.39	0.38	0.42	0.46	0.46	0.46
Net debt / EBITDA	2.59	4.66	3.97	3.32	2.71	2.83	3.08	2.99	3.82	3.91	5.62
Interest coverage	8.52	6.54	4.95	6.5	7.68	9.37	8.93	7.08	6.17	1.71	1.71
Effective tax rate	28.8%	2.68%	17.7%	18.5%	22%	18.3%	19.5%	19.6%	20.2%	100%	100%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	26.6	27.3	28.1	29	29.5	31.3	33.8	34.5	35.1	34.3	34.1
EPS (basic)	2.82	3.69	2.92	3.59	3.81	4.46	4.36	4.34	4.12	-0.16	-0.16
EPS (diluted)	2.77	3.64	2.9	3.56	3.78	4.42	4.31	4.31	4.1	-0.16	-1.64
Book value per share	9.53	12.6	13.2	14.6	16.9	17.8	18	16.8	16.6	13.7	13.8
FCF per share	2.95	3.85	3.78	5.29	3.99	4.52	3.51	4.39	4.14	3.02	3.03
Cash per share	1.3	0.69	0.75	2.76	3.04	1.35	1.18	0.73	0.66	0.84	0.81
Capex per share	1.16	1.08	0.87	0.75	0.86	0.93	1.16	1.34	1.13	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	4.35%	3.95%	3.1%	2.6%	2.91%	2.98%	3.42%	3.89%	3.2%	—	—
Capex / operating cash flow	28.4%	22%	18.2%	12.8%	17.6%	15.9%	21.7%	24.4%	21.2%	—	—
Payout ratio	66.7%	52.7%	66.2%	54.1%	53.1%	45.5%	49.4%	54.1%	57.7%	-1.5K%	59.4%
Dividend yield	3.41%	4.67%	3.98%	3.12%	3.23%	2.93%	2.57%	3.45%	4.45%	7.24%	7.26%

Yield

7.26%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.61

ex-dividend Jul 10, 2026

Payout ratio

59%

of earnings

Dividend growth

6 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 10, 2026	$0.61
Apr 10, 2026	$0.61
Jan 9, 2026	$0.61

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Revenue	$4.9B	—	—	—	—	—	—	—	$4.5B	$4.9B	$4.4B	$4.6B
YoY change	+3.97%	—	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	766.1M	399M	450M	1.7B	1.9B	819.2M	702.7M	418M	363.9M	453.8M
Receivables	1.4B	1.7B	1.7B	1.6B	1.6B	1.7B	1.7B	1.7B	1.8B	1.6B
Inventory	1.5B	1.6B	1.6B	1.4B	1.8B	1.9B	2.2B	1.9B	1.9B	1.9B
Total current assets	4.1B	4.1B	4.2B	5.1B	5.8B	5.1B	5.2B	4.6B	5.3B	4.6B
Property, plant & equipment	1.4B	1.7B	1.3B	1.5B	1.4B	1.3B	1.4B	1.6B	1.5B	1.3B
Goodwill & intangibles	26.6B	43B	42.3B	42B	42.4B	42.8B	43B	43.5B	45.4B	41.7B
Total assets	21.8B	30.6B	30.1B	30.8B	31.8B	31.1B	31.5B	31.5B	33.1B	30B
Accounts payable	2.1B	2.7B	2.9B	3.2B	3.7B	4B	4.2B	4B	4B	3.7B
Short-term debt	1.8B	3.1B	2.9B	2.7B	2.9B	2.6B	1.8B	1.7B	2.3B	1.2B
Total current liabilities	5.3B	7.3B	7.1B	7.5B	8.3B	8B	7.5B	7B	7.9B	6.8B
Long-term debt	7.6B	12.7B	11.6B	11.2B	10.1B	9.4B	10.2B	11.6B	13B	12.7B
Total liabilities	16.2B	23.4B	22.2B	21.9B	21.5B	20.3B	20.8B	21.8B	23.9B	22.6B
Shareholders' equity	5.6B	7.3B	7.9B	8.9B	10.4B	10.8B	10.7B	9.6B	9.2B	7.4B
Total debt	9.5B	15.8B	14.5B	13.9B	13B	12B	12.1B	13.3B	15.3B	13.9B
Net debt	8.7B	15.4B	14B	12.2B	11.5B	11.4B	11.5B	12.9B	14.9B	13.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Cash & short-term investments	490.9M	593.8M	588.6M	418M	468.1M	2.3B	521.3M	363.9M	952.9M	683.4M	785.5M	453.8M
Receivables	1.8B	1.8B	1.8B	1.7B	1.8B	1.8B	1.8B	1.8B	1.8B	1.9B	1.9B	1.6B
Inventory	2.2B	2.2B	1.8B	1.9B	2B	2B	1.8B	1.9B	2.1B	2.1B	1.8B	1.9B
Total current assets	5.1B	5B	4.7B	4.6B	4.8B	7.4B	5.3B	5.3B	5.2B	5.1B	4.9B	4.6B
Property, plant & equipment	—	—	—	1.6B	3.8B	—	—	1.5B	3.6B	3.5B	—	1.3B
Goodwill & intangibles	43B	42.8B	42.8B	43.5B	43.5B	42.3B	45.2B	45.4B	45.5B	45.2B	45.3B	41.7B
Total assets	31.3B	31.2B	30.9B	31.5B	31.8B	33.4B	32.7B	33.1B	33B	32.5B	32.4B	30B
Accounts payable	3.7B	3.8B	3.6B	4B	3.8B	4.1B	3.7B	4B	3.7B	3.9B	3.6B	3.7B
Short-term debt	1.8B	2.1B	1.5B	1.7B	1.9B	2.1B	2.3B	2.3B	2.2B	1.6B	3B	1.2B
Total current liabilities	7.1B	7.9B	7.1B	7B	7.3B	8B	7.9B	7.9B	8B	7.7B	8.7B	6.8B
Long-term debt	10.5B	10.5B	11B	11.6B	11.4B	12.4B	11.8B	13B	12.2B	12.2B	11B	12.7B
Total liabilities	20.8B	21.6B	21.2B	21.8B	22.2B	23.9B	23.2B	23.9B	23.5B	23.2B	23B	22.6B
Shareholders' equity	10.5B	9.6B	9.7B	9.6B	9.5B	9.4B	9.5B	9.2B	9.5B	9.3B	9.4B	7.4B
Total debt	12.3B	12.7B	12.5B	13.3B	13.3B	14.5B	14.2B	15.3B	14.4B	13.7B	14B	13.9B
Net debt	11.8B	12.1B	11.9B	12.9B	12.9B	12.2B	13.7B	14.9B	13.5B	13.1B	13.2B	13.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	1.7B	2.2B	1.8B	2.2B	2.3B	2.7B	2.6B	2.5B	2.3B	-85.3M
Depreciation & amortization	603.6M	618.8M	620.1M	594.7M	601.3M	570.3M	546.6M	552.7M	539M	555.2M
Stock-based compensation	95.7M	77M	84.9M	94.9M	89.9M	98.7M	111.7M	95.3M	91.7M	79.4M
Change in working capital	-210.8M	552.8M	106.8M	699.7M	-113.2M	312.7M	-110.5M	-156.4M	111.6M	-330.6M
Operating cash flow	2.4B	2.8B	2.9B	3.6B	3B	3.5B	3.2B	3.2B	2.9B	2.2B
Capital expenditure	-680.2M	-621.3M	-523.3M	-459.1M	-528.1M	-565.4M	-688.2M	-773.3M	-624.2M	—
Investing cash flow	-646.9M	-8.7B	-556.5M	-486.2M	-512.8M	-1.7B	-346.4M	-1.2B	-1.8B	1.8B
Dividends paid	-1.1B	-1.1B	-1.2B	-1.2B	-1.2B	-1.2B	-1.3B	-1.4B	-1.3B	-1.3B
Share repurchases	-1.7B	-601.6M	-1.1M	-3.4M	-301.4M	-876.8M	-1.4B	-2B	-1.2B	-500.3M
Financing cash flow	-1.9B	5.3B	-2.5B	-2.2B	-2.8B	-2.7B	-2.6B	-2.3B	-1.2B	-3.3B
Net change in cash	-112.4M	-516M	-164M	905.5M	-307.7M	-805.9M	190.2M	-325.2M	-71.7M	644M
Free cash flow	1.7B	2.2B	2.3B	3.2B	2.5B	2.7B	2.1B	2.5B	2.3B	1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26
Net income	680.3M	602.3M	676.3M	559.7M	583.6M	802.3M	631M	302M	1.2B	414.3M	305.5M	-2B
Depreciation & amortization	137.2M	128.6M	146.4M	140.5M	139.6M	129.5M	134.3M	135.6M	138.7M	138M	139.4M	139.1M
Stock-based compensation	35.3M	23.2M	18.2M	18.6M	20.3M	26.3M	20.5M	24.6M	15.1M	24.2M	26.3M	13.8M
Change in working capital	-598.3M	223.2M	96.1M	122.6M	-167.3M	256.2M	-172.7M	195.4M	22.2M	10.1M	-140.5M	-222.4M
Operating cash flow	244.9M	1.1B	892.8M	966.2M	560.6M	1.2B	578.2M	650.7M	397M	819.3M	397.9M	552M
Capital expenditure	-141.7M	-152.1M	-191.6M	-287.9M	-139.7M	-160.6M	-103.8M	-220.1M	—	—	—	—
Investing cash flow	-135.5M	-180.7M	-191.4M	-689.8M	-148M	-157.9M	-1.3B	-216.3M	1.8B	-11.9M	-6.4M	10.1M
Dividends paid	-348.5M	-342.5M	-337M	-335.4M	-337.8M	-338M	-332.6M	-330.3M	-330.9M	-327.9M	-328.4M	-328.1M
Share repurchases	-500.5M	-800.9M	-300.2M	-400.8M	-300M	-300.4M	-301.5M	-301M	-500M	-100K	-200K	0
Financing cash flow	-338.7M	-940.6M	-759.4M	-359.1M	-438.8M	-672.9M	-1B	-575M	-1.5B	-346.1M	-210.3M	-670.7M
Net change in cash	-229.3M	-55.2M	-58M	-82.7M	-26.2M	326M	-1.7B	-140.6M	691.1M	461.3M	181.2M	-108.6M
Free cash flow	236.4M	965.5M	751.4M	575.2M	483.9M	989.6M	428M	391.4M	287.5M	675.7M	295.5M	367.6M

Date	Ratio
Jun 9, 2010	2:1
Nov 9, 1999	2:1
May 30, 1995	10000:8265
Nov 8, 1990	2:1
Nov 10, 1986	2:1

General Mills Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history