GIS
GENERAL MILLS INC
Consumer Staples • CIK: 0000040704
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Market Cap
$26.32B
P/E (TTM)
10.3x
Rev Growth (TTM)
-5.7%
Net Margin (TTM)
13.5%
FCF Yield (TTM)
6.8%
FCF Margin (TTM)
9.5%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$1.8B
Q2 '26
$676M+135%
Q1 '26
$288M-27%
FCF Margin
TTM9.5%
Q2 '2613.9%+118%
Sector: 8.5%Above Avg
OCF Margin12.6%
OCF/NI0.93x
CapEx Coverage4.1x
FCF Yield6.8%
FCF Growth (2Y)-10%
Cash Conversion Cycle
-21 days
DSO: 35+DIO: 57−DPO: 113
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM9.2%
Div Yield5.0%
+Buyback (TTM)4.2%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)5.0%
FCF Payout Ratio74.2%
Free Cash Flow (TTM)$1.8B
Stock Repurchases (TTM)$1.1B
Capital Return / FCF135.7%
Est. Dividends Paid (TTM)$1.3B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
12.5%
Stable
+0.0% YoY+1.0%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
15.8%
8Q: 14.0%
Asset Turnover
0.57x
8Q: 0.60x
Leverage (1+D/E)
2.31x
D/E: 1.31x
DuPont: 20.8% ≈ 12.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.30x
8Q:5.31x
-9.7%
Invested Cap Turn
0.79x
8Q:0.82x
-9.8%
CapEx Intensity
2.4%
8Q:2.6%
CapEx/Depreciation
1.06x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q4 2025 | Q4 2024 | Q3 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $18.8B | $4.9B↑7.6% | $4.5B↓0.8% | $4.6B↓5.9% | $4.8B↓7.6% | $5.2B↑8.1% | $4.8B↑2.8% | $4.7B↓7.6% | $5.1B |
Operating Income | $3.8B | $728.0M↓57.8% | $1.7B↑242.4% | $504.0M↓43.5% | $891.4M↓17.3% | $1.1B↑29.6% | $831.5M↑6.7% | $779.2M↓14.4% | $910.7M |
Net Income | $2.5B | $413.0M↓65.7% | $1.2B↑309.6% | $294.0M↓53.0% | $625.6M↓21.4% | $795.7M↑37.2% | $579.9M↑4.0% | $557.5M↓16.8% | $670.1M |
Operating Cash Flow | $2.4B | $819.3M↑106.4% | $397.0M↓35.1% | $611.6M↑15.0% | $531.9M↓53.8% | $1.2B↑84.3% | $624.2M↓27.7% | $863.7M↓8.4% | $943.1M |
Free Cash Flow | $1.8B | $675.7M↑135.0% | $287.5M↓26.5% | $391.4M↓8.6% | $428.0M↓56.8% | $989.6M↑104.5% | $483.9M↓15.9% | $575.2M↓23.4% | $751.4M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
10.3x
Volatile
8Q: 58.7x-711%
Valuation Lenses
Earnings
10.3x
vs – sector
Cash Flow
30.0x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
0.8P/E per %ROIC
ROIC: 12.5%
Shareholder Returns
Dividend
5.0%
Buyback
4.2%
Total Yield
9.2%
Market Cap$26.32B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
91/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
27.3%
8Q:–
Return on Invested Capital (ROIC)Top 25%
12.5%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 15.8%
Asset Turnover: 0.57x
Earnings Quality
Cash Conversion
0.93x
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin33.8%
Capital Efficiency
Invested Capital Turnover0.79x
Working Capital
Cash Conversion Cycle-21 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
39/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-5.7%
OpInc Growth YoY
-32.5%
EPS Growth YoY
1.1%
FCF 3Y CAGR
-10.0%
Growth Quality Analysis
⚠Sustainability Index: 1.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
33.8%
Operating
20.5%
Top 25% in sector
Net
13.5%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-4.0 pts
FCF: 9.5% | Net: 13.5%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $11.49B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.31x
Balance sheet risk & solvency analysis