GISNYSEGrain Mill ProductsFiscal year ends May 30
GENERAL MILLS INC
Financials through Q1 FY2027, quarter ended Aug 30, 2026Last filing: 10-Q on Sep 23, 2026
$32.57−0.56 (-1.69%)
Close on Oct 19, 2026
- Market cap
- $17.52B
- P/E (TTM)
- –
- Dividend yield
- 7.49%
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
33.6%+467.1 pts over 5 years
Operating margin
4.8%−138.8 pts over 5 years
Net margin
-0.5%−107.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -5.4% | -2.9% | +53.1% | +1.1% | |
| Gross profit | -8.0% | -1.8% | – | +0.6% | |
| Operating income | -73.2% | -36.3% | -22.4% | -10.6% | |
| Free cash flow | -29.1% | -8.0% | -7.9% | -2.2% | |
| Dividend per share | +1.7% | +4.1% | +3.9% | +3.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 35.8% | 26.7% | -1.1% | |
| Return on assets | 7.6% | 7.5% | -0.3% | |
| Current ratio | 0.76 | 0.70 | 0.68 | |
| Debt to equity | 2.19 | 1.33 | 1.84 | |
| Net debt to EBITDA | 2.82× | 2.96× | 9.08× | |
| Interest coverage | 8.4× | 7.5× | – | |
| Inventory turnover | 6.9× | 7.2× | 6.4× | |
| Capex to revenue | 4.4% | 24.2% | 2.9% | |
| Diluted shares | 598M | 619M | 538M |
Where the cash went
Fiscal 2022 to 2026, five years combined
General Mills generated $14.48B from operations and spent $15.73B on capital expenditure, dividends and share buybacks. 20% of that went back into the business.
Generated
$14.48B
Used
$15.73B
Capital expenditure$3.20B20%Dividends$6.55B42%Share buybacks$5.99B38%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-0.5%
×Asset turnover0.58×
×Equity multiplier3.81×
=Return on equity, FY2026-1.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -0.5% | 0.58× | 3.81× | -1.1% |
| FY2025 | 11.8% | 0.60× | 3.47× | 24.7% |
| FY2024 | 12.6% | 0.63× | 3.17× | 25.2% |
| FY2023 | 12.9% | 0.64× | 2.98× | 24.7% |
| FY2022 | 126.8% | 0.07× | 3.14× | 27.1% |
| FY2021 | 106.9% | 0.07× | 3.57× | 26.7% |
| FY2020 | 106.6% | 0.07× | 4.03× | 28.9% |
| FY2019 | 85.8% | 0.07× | 4.60× | 26.6% |
| FY2018 | 13.5% | 0.60× | 5.01× | 40.7% |
| FY2017 | 10.6% | 0.72× | 4.70× | 35.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
4of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$87.60M
- Cash generatingOperating cash flow above zero$2.17B
- Return on assets improvedROA up on the prior year7.3% → -0.3%
- Earnings backed by cashOperating cash flow above net income$2.17B vs -$87.60M
- Less leverageLong-term debt to assets fell38.3% → 41.4%
- Better liquidityCurrent ratio rose0.67 → 0.68
- No dilutionShare count did not rise558M → 538M
- Gross margin improvedGross margin up on the prior year34.55% → 33.63%
- More efficientAsset turnover rose0.62 → 0.56