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General Mills (GIS) financial statements: income, balance sheet and cash flow

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) shows Q1 FY2027 revenue of USD 4.39 billion and net income of USD 397 million in its Form 10-Q for the quarter ended 30 Aug 2026. Net debt, our calculation, stood at USD 13.2 billion: total debt of USD 13.6 billion less cash of USD 433 million.

Data as of Source: Form 10-Q for Q1 FY2027, filed

Key facts

Data as of

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

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
Operating income, TTM (USD m)
−206
TTM to · derived
Net income, TTM (USD m)
−895
TTM to · derived
Free cash flow, TTM (USD bn)
1.55
TTM to · derived
Total assets (USD bn)
30.3
at · Form 10-Q
Net debt (USD bn)
13.2
at · derived: total debt minus cash and short-term investments

What the numbers show

General Mills' income statement for Q1 FY2027, the quarter ended 30 Aug 2026, shows revenue of USD 4.39 billion, 2.8% lower than a year earlier. Gross profit was USD 1.49 billion, a gross margin of 33.9%, our calculation. Operating income was USD 634 million and net income USD 397 million, against USD 1.20 billion in Q1 FY2026.

Annual revenue fell from USD 19.0 billion in FY2022 to USD 18.4 billion in FY2026, a compound annual growth rate of negative 0.8%, our calculation. Operating income went from USD 3.48 billion to USD 886 million over the same run, and FY2026 ended in a net loss of USD 88 million. In the fourth quarter of FY2026 the operating loss was USD 2.09 billion, which the hub's margin section attributes to impairment charges. FY2026 ran 371 days against 364 for FY2025, and its revenue growth carries a note for it.

On the balance sheet, total assets were USD 30.3 billion at 30 Aug 2026, down from USD 33.1 billion at 25 May 2025. Goodwill and intangibles made up USD 20.8 billion of the total, after USD 22.7 billion at 25 May 2025. Equity fell from USD 9.20 billion to USD 7.37 billion between those year-ends, and was USD 7.45 billion at 30 Aug 2026.

Total debt, the sum of short-term and long-term borrowings, was USD 13.6 billion at 30 Aug 2026. With cash of USD 433 million, net debt was USD 13.2 billion, our calculation, against USD 13.1 billion at 31 May 2026. Current liabilities of USD 6.94 billion exceeded current assets of USD 4.88 billion, and inventory rose to USD 2.16 billion from USD 1.92 billion over the quarter.

In the cash flow statement, cash from operations was USD 298 million in Q1 FY2027, USD 397 million in Q1 FY2026 and USD 2.17 billion in FY2026. Capital expenditure of USD 91 million left free cash flow, our calculation, of USD 207 million for the quarter. For the 4 quarters to 30 Aug 2026 it was USD 1.55 billion. Cash from investing was USD 1.69 billion in Q1 FY2026, the only positive quarter shown, and cash from financing was negative USD 3.32 billion in FY2026.

Diluted EPS was USD 0.74 per share in Q1 FY2027 against USD 2.22 per share in Q1 FY2026. For FY2026 it was negative USD 0.16 per share, against USD 4.10 per share in FY2025. Diluted shares fell from 613 million shares in FY2022 to 538 million shares in FY2026. Dividends paid were USD 1.32 billion in FY2026, covered 1.2 times by free cash flow, our calculation, as FCF cover defines it. General Mills stock fundamentals sets out the dividend and buyback history.

Income statement

Chart 1

General Mills quarterly revenue, Q2 FY2025 to Q1 FY2027

USD bn · quarters ended to

Revenue by quarter, from USD 5.24 bn in Q2 FY2025 to USD 4.39 bn in Q1 FY2027.02464.4Q2FY25Q3Q4Q1FY26Q2Q3Q4Q1FY27stockfactsheet.com
Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 General Mills income statement, annual, FY2022–FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late May
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended CAGRFY22–FY26
Revenue18,42519,48719,85720,09418,993decreased 0.8%
Revenue YoY %decreased 5.4% 1decreased 1.9%decreased 1.2%increased 5.8%increased 4.8%not available
Cost of revenue12,22912,75412,92513,54812,591decreased 0.7%
Gross profit6,196 D6,733 D6,932 D6,546 D6,402 Ddecreased 0.8%
Gross margin %33.6%34.6%34.9%32.6%33.7%not available
R&D256257258258243increased 1.3%
SG&A3,3893,4463,2593,5003,147increased 1.9%
Operating income8863,3053,4323,4343,476decreased 28.9%
Operating margin %4.8%17.0%17.3%17.1%18.3%not available
Net interest−539−524−479−382−380n/m
Pre-tax income4062,8353,0283,1413,210decreased 40.4%
Income tax414574595612586decreased 8.3%
Net income−882,2952,4972,5942,707n/m
Net margin %−0.5%11.8%12.6%12.9%14.3%not available
Per share
Diluted EPS (USD)−0.164.104.314.314.42n/m
Diluted shares (m)538558580601613not available
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Combined from line items reported in the same filing (see Methodology).
  • Not available
  • Not meaningful

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

CAGR: compound annual growth rate from FY2022 to FY2026, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

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

Quarterly

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Table 2 General Mills income statement, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late May
USD mQ1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended
Revenue4,3904,6104,4374,8614,5184,5564,8425,240
Revenue YoY %decreased 2.8%increased 1.2% 1decreased 8.4%decreased 7.2%decreased 6.8%decreased 3.3%decreased 5.0%increased 2.0%
Cost of revenue2,9023,006 D3,0703,1682,9853,082 D3,2033,309
Gross profit1,487 D1,604 D1,367 D1,693 D1,533 D1,474 D1,639 D1,931 D
Gross margin %33.9%34.8%30.8%34.8%33.9%32.4%33.9%36.9%
SG&A832888 D813842845894 D844852
Operating income634−2,093 D5257281,726504 D8911,078
Operating margin %14.4%−45.4%11.8%15.0%38.2%11.1%18.4%20.6%
Net interest−142−152 D−128−126−133−140 D−136−125
Pre-tax income502−2,232 D4126181,608377 D769967
Income tax123−240 D10014441169 D152195
Net income397−2,0083034131,204294626796
Net margin %9.0%−43.6%6.8%8.5%26.7%6.5%12.9%15.2%
Per share
Diluted EPS (USD)0.74−3.740.560.782.220.531.121.42
Diluted shares (m)538not available537537543not available555560
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Combined from line items reported in the same filing (see Methodology).
  • Not available

1 Q4 FY2026 ran – (98 days); Q4 FY2025 ran – (91 days).

Totals may not add up because of rounding.

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

Balance sheet

Annual

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Table 3 General Mills assets, annual, FY2022–FY2026 (USD millions) USD millions
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Cash and short-term investments454364418586569
Receivables1,6471,7961,6961,6831,692
Inventory1,9181,9111,8982,1721,867
Total current assets4,6185,2764,5815,1765,090
PP&E (net)3,4433,6333,8643,6363,394
Goodwill and intangibles20,83922,70421,73121,47921,378
Total assets30,01733,07131,47031,45231,090
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

Totals may not add up because of rounding.

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Table 4 General Mills liabilities and shareholders' equity, annual, FY2022–FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Current liabilities6,7747,8577,0337,5368,020
Total debt13,538 D14,879 D12,930 D11,706 D11,620 D
Total liabilities22,63623,86021,82120,75220,302
Shareholders' equity7,3689,1999,39710,45010,542
Net debt / (net cash)13,084 D14,515 D12,512 D11,120 D11,051 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.

Totals may not add up because of rounding.

Quarterly

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Table 5 General Mills assets, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions
USD mQ1 FY2027at Q4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at
Cash and short-term investments4334547866839533645212,293
Receivables1,7751,6471,8571,8931,8041,7961,7911,782
Inventory2,1631,9181,7562,0522,0521,9111,8121,968
Total current assets4,8844,6184,8895,0715,2405,2765,2567,381
PP&E (net)3,3833,4433,4923,5143,5833,6333,4613,457
Goodwill and intangibles20,82320,83922,66522,62422,74822,70422,57821,171
Total assets30,27330,01732,40332,54933,01633,07132,70633,396
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

Totals may not add up because of rounding.

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Table 6 General Mills liabilities and shareholders' equity, quarterly, Q2 FY2025–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 Q4 FY2025at Q3 FY2025at Q2 FY2025at
Current liabilities6,9406,7748,6857,7137,9607,8577,8768,024
Total debt13,616 D13,538 D13,968 D13,735 D14,407 D14,879 D14,187 D14,522 D
Total liabilities22,81022,63623,04623,22023,49723,86023,19423,947
Shareholders' equity7,4507,3689,3439,3169,5079,1999,2639,201
Net debt / (net cash)13,183 D13,084 D13,182 D13,051 D13,454 D14,515 D13,666 D12,229 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.

Totals may not add up because of rounding.

Cash flow

Chart 2

General Mills quarterly free cash flow, Q2 FY2025 to Q1 FY2027

USD m · quarters ended to

Free cash flow by quarter, from USD 990 m in Q2 FY2025 to USD 207 m in Q1 FY2027.02505007501,000207Q2FY25Q3Q4Q1FY26Q2Q3Q4Q1FY27stockfactsheet.com
Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 General Mills cash flow, annual, 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
Cash from investing1,258−1,795−1,197−346−1,691
Cash from financing−3,315−1,180−2,272−2,404−2,503
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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.

Quarterly

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Table 8 General Mills cash flow, quarterly, Q2 FY2025–Q1 FY2027 (USD millions) USD millions · outflows shown with a minus sign
USD mQ1 FY2027ended Q4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended
Cash from operations298552 D398 D819 D397612 D532 D1,151 D
Capital expenditure−91−184 D−102 D−144 D−110−220 D−104 D−161 D
Free cash flow207 D368 D296 D676 D288 D391 D428 D990 D
Dividends paid−331−328 D−328 D−328 D−331−330 D−333 D−338 D
Share buybacks00 D0 D0 D−500−301 D−302 D−300 D
Cash from investing−116−175 D−106 D−156 D1,695−216 D−1,273 D−158 D
Cash from financing−210−671 D−210 D−927 D−1,507−570 D−1,032 D852 D
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

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Table 9 General Mills per-share data and dividends, annual, FY2022–FY2026 USD per share, split-adjusted · shares in millions
USDFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Basic EPS (USD)−0.164.124.344.364.46
Diluted EPS (USD)−0.164.104.314.314.42
Dividends declared per share (USD)2.442.402.362.162.04
Diluted shares (m)538558580601613
Shares outstanding at year end (m)534 D542 D559 D587 D599 D
FCF cover (×)1.2×1.7×1.9×1.6×2.2×
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Source: General Mills Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Shares issued minus treasury shares, from the same filing.

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Combined from line items reported in the same filing (see Methodology).
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
    • Shares issued minus treasury shares, from the same filing.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

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 (FY2022 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. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

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

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  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-Q, quarter ended 23 Feb 2025 General Mills, Inc. · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 24 Nov 2024 General Mills, Inc. · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 26 May 2024 General Mills, Inc. · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 28 May 2023 General Mills, Inc. · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 29 May 2022 General Mills, Inc. · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 25 Aug 2024 General Mills, Inc. · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 25 Feb 2024 General Mills, Inc. · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 26 Nov 2023 General Mills, Inc. · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 30 May 2021 General Mills, Inc. · · sec.gov
  16. [16] 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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StockFactsheet (2026). "General Mills (GIS) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/gis/financials/

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