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General Mills (NYSE: GIS) stock fundamentals

NYSE: GIS · Consumer staples · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

General Mills (NYSE: GIS) makes branded consumer foods, including Cheerios, Nature Valley, Pillsbury and Blue Buffalo pet food. Its Form 10-K reports revenue of USD 18.4 billion and a net loss of USD 87.6 million for FY2026, the year ended 31 May 2026. Its Form 10-Q for Q1 FY2027 puts net debt, our calculation, at USD 13.2 billion.

Data as of Source: Form 10-K for FY2026 and Form 10-Q for Q1 FY2027

Key facts

Data as of

General Mills (NYSE: GIS) · USD · fiscal year ends late May · figures from SEC filings; derived values are marked.

Revenue (USD bn)
18.4
FY2026 (ended ) · Form 10-K
Revenue, TTM (USD bn)
18.3
TTM to · derived
Revenue by quarter, from USD 5.24 bn in Q2 FY2025 to USD 4.39 bn in Q1 FY2027
Net income attributable to shareholders (USD m)
−87.6
FY2026 (ended ) · Form 10-K
Operating margin
4.8%
FY2026 (ended ) · derived
Free cash flow (USD bn)
1.63
FY2026 (ended ) · derived
Net debt (USD bn)
13.2
at · derived: total debt minus cash and short-term investments
Dividend declared per share (USD)
2.44
FY2026 (ended ) · Form 10-K
Shares outstanding (m)
535
at · Form 10-Q cover page

Fundamentals profile

vs General Mills's own FY2022–FY2026 range (fewer than 5 covered peers) · TTM to Q1 FY2027 · Data as of

Each row places General Mills's value against its own FY2022–FY2026 range. It describes; it does not rate. There is no overall score. How we calculate this

General Mills fundamentals profile compared with its own FY2022–FY2026 range. Each row names its period; values are percentages, multiples or years.
DimensionMetricGeneral MillsOwn 5-year medianPositionRange
GrowthRevenue, 3-year CAGR to FY2026The two end years differ in length: FY2026 had 53 weeks; FY2023 had 52 weeks (371 vs 364 days). The range's high end is the rate to FY2023, whose end years differ in length: FY2023 had 52 weeks; FY2020 had 53 weeks (364 vs 371 days).−2.9%Own 5-year median 3.1%Below its 5-year median
Lower (−2.9%) Higher (4.5%)
MarginsOperating margin (TTM to Q1 FY2027)−1.1%Own 5-year median 17.1%Below its 5-year median
Lower (4.8%) Higher (18.3%)
LeverageNet debt / EBITDA (TTM to Q1 FY2027; below zero means net cash)37.7×Own 5-year median 3.1×Above its 5-year median
Lower (2.7×) Higher (9.1×)
Cash flowFCF margin (TTM to Q1 FY2027)8.5%Own 5-year median 11.8%Below its 5-year median
Lower (8.8%) Higher (14.5%)
Dividend historyConsecutive years of cash dividends, to FY2026Counted from FY2011; our data has no dividend per share for FY2010, so the run may be longer.At least 16Own 5-year median not availablenot availablenot available

Source: General Mills Forms 10-Q and 10-K, SEC EDGAR. Derived by StockFactsheet. Data as of

Compared with General Mills's own FY2022–FY2026 range because fewer than 5 covered peers exist. Descriptive only; not a rating.

Why did General Mills' operating margin fall to 4.8% in FY2026?

General Mills' operating margin, our calculation, fell from 17.0% in FY2025 to 4.8% in FY2026, the year ended 31 May 2026. Its 10-K records a USD 1,500 million non-cash goodwill impairment charge for the North America Pet reporting unit.[2] General Mills reported a net loss of USD 87.6 million for the year.

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Table 1 General Mills annual revenue and margins, FY2022–FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late May
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Revenue18,42519,48719,85720,09418,993
Revenue YoY %decreased 5.4% 1decreased 1.9%decreased 1.2%increased 5.8%increased 4.8%
Gross margin %33.6%34.6%34.9%32.6%33.7%
Operating margin %4.8%17.0%17.3%17.1%18.3%
Net margin %−0.5%11.8%12.6%12.9%14.3%
(opens in new tab)

Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

1 FY2026 had 53 weeks; FY2025 had 52 weeks (371 vs 364 days).

Arrows show direction of change only, not whether a change is good or bad.

Gross margin, our calculation, was 33.6% in FY2026 and 34.6% in FY2025, so the fall sits below gross profit. The 10-K says the company recorded the impairment charges in restructuring, transformation, impairment, and other exit costs.[2] It adds a USD 303 million non-cash charge on the Nudges, Uncle Toby's and True Chews brand intangible assets.[2]

The 10-K also says the goodwill charge is not deductible for tax purposes, which raised the year's effective tax rate.[2] Net margin, our calculation, was negative 0.5% in FY2026, against 11.8% in FY2025. Operating margin ranged from 17.0% to 18.3% in the four years from FY2022 to FY2025.

FY2026 also had one more week than FY2025, so its figures cover 371 days against 364. General Mills' financial statements set out the full income statement for FY2022 to FY2026 beside these margins.

Did General Mills' free cash flow cover its dividends paid in FY2026?

General Mills' free cash flow, our calculation, was USD 1.63 billion in FY2026, against dividends paid of USD 1.32 billion. It was larger than dividends paid in each of the 5 years from FY2022 to FY2026. Dividends declared were USD 2.44 per share for FY2026.

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Table 2 General Mills cash flow, dividends paid and buybacks, FY2022–FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Cash from operations2,1662,9183,3032,7793,316
Capital expenditure−540−625−774−690−569
Free cash flow1,626 D2,293 D2,529 D2,089 D2,747 D
Dividends paid−1,315−1,339−1,363−1,288−1,245
Share buybacks−500−1,203−2,002−1,404−877
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Cash from operations fell from USD 2.92 billion in FY2025 to USD 2.17 billion in FY2026, while capital expenditure eased from USD 625 million to USD 540 million. Free cash flow was USD 2.29 billion in FY2025 and USD 2.53 billion in FY2024. The gap between free cash flow and dividends paid was narrower in FY2026 than in each of the four years before it.

Dividends paid were USD 1.24 billion in FY2022 and USD 1.32 billion in FY2026, a smaller rise than the per-share amount, because shares outstanding fell over the period. Buybacks were USD 500 million in FY2026, against USD 2.00 billion in FY2024 and USD 1.20 billion in FY2025. General Mills' Form 10-Q for Q1 FY2027 shows no share repurchases in the quarter and dividends declared of USD 0.61 per share, the same as a year earlier.[1]

How did General Mills' net debt change through Q1 FY2027?

General Mills' net debt, our calculation, was USD 13.2 billion at 30 Aug 2026, the end of Q1 FY2027. That is total debt of USD 13.6 billion less cash of USD 433 million. Net debt was USD 13.1 billion at 31 May 2026, the end of FY2026.

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Table 3 General Mills cash, debt and net debt, Q1 FY2026–Q1 FY2027 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at
Cash and short-term investments433454786683953
Total debt13,616 D13,538 D13,968 D13,735 D14,407 D
Net debt / (net cash)13,183 D13,084 D13,182 D13,051 D13,454 D
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Across the 5 quarters from Q1 FY2026 to Q1 FY2027, net debt stayed between USD 13.1 billion and USD 13.5 billion. Total equity, which the Financials page shows, did not stay level. It fell in Q4 FY2026, the quarter of the goodwill impairment, and was little changed in Q1 FY2027.

The 10-K calls the goodwill charge non-cash.[2] It reduced equity but not cash or debt. Net debt barely moved in that quarter, from USD 13.2 billion at the end of Q3 FY2026 to USD 13.1 billion at the end of Q4. Campbell's stock fundamentals show the same balance sheet lines for another US packaged-food company, whose fiscal year ends in a different month.

How we got these numbers

Every figure comes from General Mills's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q2 FY2025 to Q1 FY2027) and 10-K (FY2019 to FY2026)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. EBITDA = operating income + depreciation and amortisation (our calculation). Net debt = total debt − cash and short-term investments. CAGR = compound annual growth over three fiscal years.
Restatements
None in the periods shown.
Comparator
Each profile row compares the current value with General Mills's own last five fiscal years, FY2022 to FY2026: the median of those five years and their range, from the lowest to the highest. A current value outside that range is drawn just past the end of the strip. Fewer than 5 covered peers exist, so there is no sector median yet.
Currency
As reported (USD); no FX conversion.
Read the full methodology

Latest filings and disclosures

SEC filings behind General Mills's figures, newest first.

(opens in new tab)
  1. Filing Form 10-Q, quarter ended 30 Aug 2026 sec.gov
  2. Filing Form 10-K, fiscal year ended 31 May 2026 sec.gov
  3. Filing Form 10-Q, quarter ended 22 Feb 2026 sec.gov
  4. Filing Form 10-Q, quarter ended 23 Nov 2025 sec.gov
  5. Filing Form 10-Q, quarter ended 24 Aug 2025 sec.gov
  6. Filing Form 10-K, fiscal year ended 25 May 2025 sec.gov
  7. Filing Form 10-Q, quarter ended 23 Feb 2025 sec.gov
  8. Filing Form 10-Q, quarter ended 24 Nov 2024 sec.gov
All filings on SEC EDGAR

Company identifiers

Data as of
(opens in new tab)
Legal name
General Mills, Inc.
Exchange
NYSE
Ticker
GIS
Sector
Consumer staples
Country
United States
Fiscal year end
late May (FY2026 ended 31 May 2026)
Reporting currency
USD
Accounting standard
US GAAP
SEC CIK
0000040704
Latest filing in this page's data
Form 10-Q, quarter ended 30 Aug 2026 · filed

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

(opens in new tab)
  1. [1] Filing Form 10-Q, quarter ended 30 Aug 2026 General Mills, Inc. · · sec.gov
  2. [2] Filing Form 10-K, fiscal year ended 31 May 2026 General Mills, Inc. · · sec.gov
  3. [3] Filing Form 10-Q, quarter ended 22 Feb 2026 General Mills, Inc. · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 23 Nov 2025 General Mills, Inc. · · sec.gov
  5. [5] Filing Form 10-Q, quarter ended 24 Aug 2025 General Mills, Inc. · · sec.gov
  6. [6] Filing Form 10-K, fiscal year ended 25 May 2025 General Mills, Inc. · · sec.gov
  7. [7] Filing Form 10-K, fiscal year ended 26 May 2024 General Mills, Inc. · · sec.gov
  8. [8] Filing Form 10-K, fiscal year ended 28 May 2023 General Mills, Inc. · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 29 May 2022 General Mills, Inc. · · sec.gov
  10. [10] Filing Form 10-Q, quarter ended 23 Feb 2025 General Mills, Inc. · · sec.gov
  11. [11] Filing Form 10-Q, quarter ended 24 Nov 2024 General Mills, Inc. · · sec.gov
  12. [12] Filing Form 10-K, fiscal year ended 30 May 2021 General Mills, Inc. · · sec.gov
  13. [13] Filing Form 10-K, fiscal year ended 31 May 2020 General Mills, Inc. · · sec.gov
  14. [14] Filing Form 10-K, fiscal year ended 26 May 2019 General Mills, Inc. · · sec.gov
  15. [15] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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Cite this page

StockFactsheet (2026). "General Mills (NYSE: GIS) stock fundamentals." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/gis/

Not investment advice

For information only. StockFactsheet does not recommend buying, selling or holding any security. Figures can contain errors; always check the original filings. Full disclaimer

Author and editor

OffScriptBySami

Founder and editor, StockFactsheet

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How this page was made
  1. Data imported (SEC EDGAR, )
  2. Drafted from our dataset and the company's own filings
  3. Automated checks and review steps passed ()
  4. Signed off and published by OffScriptBySami (, GST)

Update history

  1. Published First published version.