Logo

GIS

General Mills, Inc.

GIS

General Mills, Inc. • NYSE
$47.33 ▲ 0.34% (+0.16)
Market Cap $26.02 B
52w High $67.40
52w Low $45.80
Dividend Yield 2.42%
P/E 8.95
Volume 1.95M
Outstanding Shares 549.70M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $4.518B ▼ $-193M ▼ $1.204B ▲ 26.656% ▲ $2.22 ▲ $826.4M ▲
Q4-2025 $4.556B ▼ $970M ▲ $294M ▼ 6.453% ▼ $0.52 ▼ $811.9M ▼
Q3-2025 $4.842B ▼ $747.7M ▼ $625.6M ▼ 12.92% ▼ $1.14 ▼ $929M ▼
Q2-2025 $5.24B ▲ $853.2M ▼ $795.7M ▲ 15.185% ▲ $1.43 ▲ $1.209B ▲
Q1-2025 $4.848B $857.3M $579.9M 11.961% $1.03 $973.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $952.9M ▲ $33.016B ▼ $23.497B ▼ $9.507B ▲
Q4-2025 $363.9M ▼ $33.071B ▲ $23.86B ▲ $9.199B ▼
Q3-2025 $521.3M ▼ $32.706B ▼ $23.194B ▼ $9.263B ▲
Q2-2025 $2.293B ▲ $33.396B ▲ $23.947B ▲ $9.201B ▼
Q1-2025 $468.1M $31.769B $22.243B $9.276B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $1.204B ▲ $397M ▼ $1.695B ▲ $-1.507B ▼ $589M ▲ $287.5M ▼
Q4-2025 $302M ▼ $611.6M ▲ $-216.3M ▲ $-570.4M ▲ $-157.4M ▲ $391.4M ▼
Q3-2025 $631M ▼ $531.9M ▼ $-1.273B ▼ $-1.032B ▼ $-1.772B ▼ $428M ▼
Q2-2025 $802.3M ▲ $1.151B ▲ $-157.9M ▼ $851.5M ▲ $1.825B ▲ $989.6M ▲
Q1-2025 $583.6M $624.2M $-148M $-429.4M $50.1M $483.9M

Revenue by Products

Product Q1-2026
Baking mixes and ingredients
Baking mixes and ingredients
 $450.00M ▲
Cereal
Cereal
 $770.00M ▲
Convenient meals
Convenient meals
 $650.00M ▲
Dough
Dough
 $520.00M ▲
Other Product
Other Product
 $120.00M ▲
Pet Segment
Pet Segment
 $640.00M ▲
Snacks
Snacks
 $1.05Bn ▲
Superpremium ice cream
Superpremium ice cream
 $220.00M ▲
Yogurt
Yogurt
 $100.00M ▲

Five-Year Company Overview

Income Statement

Income Statement General Mills looks like a mature, stable earner rather than a fast grower. Sales have hovered in a fairly tight range over the last several years, with only modest ups and downs, suggesting a business that is steady but not rapidly expanding. Profitability has been reasonably resilient: gross profit and operating income have held up well despite inflation and cost swings, and earnings remain comfortably above where they were a few years ago, even if they’ve eased slightly from their recent peak. Overall, the income statement reflects a classic consumer‑staples profile: slow top‑line growth, solid margins, and dependable, if not spectacular, earnings power.

Balance Sheet

Balance Sheet The balance sheet shows a large, established company with significant assets but also meaningful leverage. Total assets have stayed fairly stable over time, suggesting a business that is not dramatically changing its size. Debt has crept up in recent years and is now notably higher than the company’s equity, which points to a capital structure that leans on borrowing. Cash on hand is relatively modest compared with the size of the business, implying less of a cash cushion but also that excess cash is not sitting idle. Equity has been roughly flat over the period. In short, the balance sheet is workable but not conservative, and the level of debt is a key item to watch if conditions become more volatile.

Cash Flow

Cash Flow Cash generation is a clear strength. Operating cash flow has been consistently healthy, and free cash flow has remained solid even after funding ongoing capital investments. The company is spending steadily on its facilities, technology, and operations, but not at an aggressive, high‑risk pace. There appears to be sufficient free cash flow to support both investment in the business and returns to shareholders, which is typical of mature consumer companies. The main watchpoint is that strong cash flow needs to continue, given the reliance on debt and the relatively low cash balance.

Competitive Edge

Competitive Edge General Mills sits in a defensible corner of the food industry, backed by a portfolio of very well‑known brands across cereal, baking, meals, snacks, yogurt, and pet food. This brand strength, combined with large‑scale manufacturing and wide distribution, gives it bargaining power with retailers and helps support premium pricing. Its move into higher‑growth segments like premium pet food adds another leg to its competitive story. That said, it still faces ongoing pressure from private‑label products, shifting consumer diets, retailer concentration, and intense competition from other global food giants. The moat is real but must be actively maintained through marketing, innovation, and execution.

Innovation and R&D

Innovation and R&D The company is leaning harder into innovation than many might expect from a legacy food manufacturer. On the operations side, it is building a digitally enabled, “always‑on” supply chain, using artificial intelligence and advanced analytics (including its ELF platform) to cut waste, improve planning, and respond faster to disruptions. On the product side, it is expanding R&D capacity at its technical center and pushing into areas like high‑protein foods, health‑focused offerings, and premium pet nutrition, while also using limited‑edition flavors and collaborations to keep brands culturally relevant. Digital loyalty programs and data‑driven personalization are early steps in deeper consumer engagement. The opportunity is to turn this innovation engine into sustained growth; the risk is execution missteps or chasing trends that don’t stick.

Summary

General Mills presents as a reliable, cash‑generative consumer‑staples business with a long history and durable brands, but only modest growth. Its earnings and cash flows are steady, its balance sheet is serviceable though leveraged, and its core franchises continue to enjoy strong recognition and loyalty. The company is actively trying to refresh its story through technology‑driven supply chain improvements and stepped‑up product innovation, especially in pet food and health‑oriented categories. Key things to monitor going forward include its ability to reignite organic growth, keep margins resilient amid cost and retailer pressures, manage its debt load prudently, and successfully translate its “Accelerate” strategy and R&D investments into products and capabilities that resonate with changing consumer tastes.

NEWS

November 19, 2025 · 8:00 AM UTC

General Mills to Webcast Fiscal 2026 Second Quarter Earnings Results on Dec. 17, 2025

Read more

November 17, 2025 · 4:30 PM UTC

General Mills Quarterly Dividend Declared

Read more

November 10, 2025 · 10:41 AM UTC

General Mills Accelerates Kernza Market for U.S. Organic Farmers with New Cascadian Farm Cereals

Read more

November 5, 2025 · 4:30 PM UTC

General Mills to Webcast Remarks at the J.P. Morgan U.S. Opportunities Forum on Nov. 12, 2025

Read more

October 14, 2025 · 8:00 AM UTC

General Mills Highlights Growth Initiatives at Investor Day

Read more