Cash flow General Mills, Inc.

Equities

GIS

US3703341046

Food Processing

Market Closed - Nyse Other stock markets 21:00:02 12/09/2024 BST			5-day change	1st Jan Change
73.01 ^USD	-0.15%		-2.01%	+12.08%

01:48pm	Consumer Edge Research Adjusts General Mills Price Target to $72 From $67	MT
12:48pm	Wells Fargo Raises Price Target on General Mills to $75 From $67	MT

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Published financial data: GENERAL MILLS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: May	2020	2021	2022	2023	2024
Revenues	17.63B	18.13B	18.99B	20.09B	19.86B
Total Revenues	17.63B	18.13B	18.99B	20.09B	19.86B
Cost of Goods Sold, Total	11.47B	11.68B	12.59B	13.54B	12.91B
Gross Profit	6.16B	6.45B	6.41B	6.55B	6.95B
Selling General & Admin Expenses, Total	3.04B	2.95B	3.01B	3.41B	3.18B
Other Operating Expenses, Total	3.04B	2.95B	3.01B	3.41B	3.18B
Operating Income	3.12B	3.5B	3.39B	3.15B	3.77B
Interest Expense, Total	-472M	-428M	-383M	-396M	-498M
Interest And Investment Income	6M	7.4M	3.8M	14M	18.8M
Net Interest Expenses	-466M	-420M	-380M	-382M	-479M
Income (Loss) On Equity Invest.	91.1M	118M	112M	81.3M	84.8M
EBT, Excl. Unusual Items	2.74B	3.2B	3.13B	2.85B	3.37B
Restructuring Charges	-51.7M	-173M	23.2M	-63.4M	-144M
Merger & Related Restructuring Charges	-	-	-22.4M	-5.9M	-200K
Impairment of Goodwill	-	-	-	-	-117M
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-53.5M	194M	445M	-
EBT, Incl. Unusual Items	2.69B	2.98B	3.32B	3.22B	3.11B
Income Tax Expense	480M	629M	586M	612M	594M
Earnings From Continuing Operations	2.21B	2.35B	2.74B	2.61B	2.52B
Net Income to Company	2.21B	2.35B	2.74B	2.61B	2.52B
Minority Interest	-29.6M	-6.2M	-27.7M	-15.7M	-22M
Net Income - (IS)	2.18B	2.34B	2.71B	2.59B	2.5B
Net Income to Common Incl Extra Items	2.18B	2.34B	2.71B	2.59B	2.5B
Net Income to Common Excl. Extra Items	2.18B	2.34B	2.71B	2.59B	2.5B
Per Share Items
Net EPS - Basic	3.59	3.81	4.46	4.36	4.34
Basic EPS - Continuing Operations	3.59	3.81	4.46	4.36	4.34
Basic Weighted Average Shares Outstanding	608M	614M	608M	595M	576M
Net EPS - Diluted	3.56	3.78	4.42	4.31	4.31
Diluted EPS - Continuing Operations	3.56	3.78	4.42	4.31	4.31
Diluted Weighted Average Shares Outstanding	613M	619M	613M	601M	580M
Normalized Basic EPS	2.77	3.25	3.17	2.96	3.63
Normalized Diluted EPS	2.75	3.22	3.14	2.93	3.6
Dividend Per Share	1.96	2.02	2.04	2.16	2.36
Payout Ratio	54.82	53.27	45.97	49.65	54.61
Supplemental Items
EBITDA	3.71B	4.11B	3.96B	3.69B	4.32B
EBITA	3.12B	3.5B	3.39B	3.15B	3.77B
EBIT	3.12B	3.5B	3.39B	3.15B	3.77B
EBITDAR	3.88B	4.28B	4.13B	3.86B	4.49B
Effective Tax Rate - (Ratio)	17.85	21.15	17.65	19	19.1
Current Domestic Taxes	436M	417M	445M	569M	585M
Current Foreign Taxes	73.8M	93M	79.1M	65.1M	58.2M
Total Current Taxes	510M	510M	524M	634M	643M
Deferred Domestic Taxes	11.2M	132M	93.3M	1.5M	37.1M
Deferred Foreign Taxes	-40.8M	-12.7M	-31.1M	-23.7M	-85.6M
Total Deferred Taxes	-29.6M	119M	62.2M	-22.2M	-48.5M
Normalized Net Income	1.68B	1.99B	1.93B	1.76B	2.09B
Interest Capitalized	2.6M	3.2M	3.8M	4.4M	11.4M
Non-Cash Pension Expense	-90.2M	-90.7M	-85.8M	-33.8M	-24.2M
Supplemental Operating Expense Items
Advertising Expense	692M	736M	690M	810M	825M
Selling and Marketing Expenses	692M	736M	690M	810M	825M
Research And Development Expense From Footnotes	224M	239M	243M	258M	258M
Net Rental Expense, Total	171M	170M	167M	164M	170M
Imputed Operating Lease Interest Expense	45.81M	43.5M	41.49M	43.63M	54.59M
Imputed Operating Lease Depreciation	125M	126M	126M	120M	115M
Stock-Based Comp., Other (Total)	94.9M	89.9M	98.7M	112M	95.3M
Total Stock-Based Compensation	94.9M	89.9M	98.7M	112M	95.3M

Fiscal Period: May	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.68B	1.51B	569M	586M	418M
Short Term Investments	-	360M	250M	117M	-
Total Cash And Short Term Investments	1.68B	1.87B	819M	703M	418M
Accounts Receivable, Total	1.62B	1.64B	1.69B	1.68B	1.7B
Other Receivables	85.2M	139M	183M	286M	222M
Total Receivables	1.7B	1.78B	1.87B	1.97B	1.92B
Inventory	1.43B	1.82B	1.87B	2.17B	1.9B
Prepaid Expenses	194M	222M	214M	244M	266M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	122M	69.5M	315M	88.4M	80.8M
Total Current Assets	5.12B	5.75B	5.09B	5.18B	4.58B
Gross Property Plant And Equipment	10.32B	10.84B	10.55B	10.91B	11.47B
Accumulated Depreciation	-6.37B	-6.86B	-6.82B	-6.93B	-7.24B
Net Property Plant And Equipment	3.95B	3.99B	3.73B	3.98B	4.23B
Long-term Investments	567M	566M	514M	462M	398M
Goodwill	13.92B	14.06B	14.38B	14.51B	14.75B
Other Intangibles, Total	7.1B	7.15B	7B	6.97B	6.98B
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	-	-	-	-	168M
Other Long-Term Assets, Total	154M	323M	378M	358M	363M
Total Assets	30.81B	31.84B	31.09B	31.45B	31.47B
Liabilities
Accounts Payable, Total	3.25B	3.65B	3.98B	4.19B	3.99B
Accrued Expenses, Total	1.07B	1.1B	980M	964M	895M
Short-term Borrowings	279M	361M	811M	31.7M	11.8M
Current Portion of Long-Term Debt	2.33B	2.46B	1.67B	1.71B	1.61B
Current Portion of Leases	102M	112M	108M	103M	103M
Current Income Taxes Payable	80.3M	37.4M	31.4M	80.9M	82.1M
Other Current Liabilities	377M	543M	434M	454M	340M
Total Current Liabilities	7.49B	8.27B	8.02B	7.54B	7.03B
Long-Term Debt	10.93B	9.79B	9.13B	9.96B	11.3B
Long-Term Leases	277M	284M	249M	258M	284M
Deferred Tax Liability Non Current	1.95B	2.12B	2.22B	2.11B	2.2B
Other Non Current Liabilities	1.27B	1.01B	681M	883M	1B
Total Liabilities	21.91B	21.46B	20.3B	20.75B	21.82B
Common Stock, Total	75.5M	75.5M	75.5M	75.5M	75.5M
Additional Paid In Capital	1.35B	1.37B	1.18B	1.22B	1.23B
Retained Earnings	15.98B	17.07B	18.53B	19.84B	20.97B
Treasury Stock	-6.43B	-6.61B	-7.28B	-8.41B	-10.36B
Comprehensive Income and Other	-2.91B	-2.43B	-1.97B	-2.28B	-2.52B
Total Common Equity	8.06B	9.47B	10.54B	10.45B	9.4B
Minority Interest	836M	908M	246M	250M	252M
Total Equity	8.89B	10.38B	10.79B	10.7B	9.65B
Total Liabilities And Equity	30.81B	31.84B	31.09B	31.45B	31.47B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	610M	607M	597M	585M	558M
ECS Total Common Shares Outstanding	610M	608M	599M	587M	559M
Book Value / Share	13.21	15.58	17.6	17.81	16.81
Tangible Book Value	-12.96B	-11.74B	-10.84B	-11.03B	-12.33B
Tangible Book Value Per Share	-21.25	-19.32	-18.09	-18.8	-22.06
Total Debt	13.92B	13.01B	11.98B	12.06B	13.32B
Net Debt	12.24B	11.14B	11.16B	11.36B	12.9B
Debt Equivalent of Unfunded Proj. Benefit Obligation	797M	406M	156M	323M	491M
Debt Equivalent Oper. Leases	1.37B	1.36B	1.34B	1.31B	1.36B
Minority Interest, Total (Incl. Fin. Div)	836M	908M	246M	250M	252M
Equity Method Investments, Total	567M	566M	514M	462M	398M
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-202M	-210M	-463M	-601M	-541M
Inventories - Raw Materials, Total	392M	412M	532M	572M	500M
Inventories - Finished Goods, Total	1.24B	1.62B	1.8B	2.2B	1.94B
Land - (BS)	66.1M	67.4M	55.1M	56.5M	57.3M
Buildings, Total	2.41B	2.54B	2.44B	2.57B	2.64B
Machinery, Total	6.43B	6.73B	6.49B	6.67B	6.99B
Full Time Employees	35K	35K	32.5K	34K	34K
Assets under Capital Lease - Gross	6.1M	8.1M	8.1M	10.1M	10.6M
Accumulated Allowance for Doubtful Accounts (Supple)	33.2M	36M	28.3M	26.9M	25M

Fiscal Period: May	2020	2021	2022	2023	2024
Net Income	2.18B	2.34B	2.71B	2.59B	2.5B
Depreciation & Amortization - CF	595M	601M	570M	547M	553M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	595M	601M	570M	547M	553M
(Gain) Loss From Sale Of Asset	-	53.5M	-194M	-445M	-
Asset Writedown & Restructuring Costs	43.6M	151M	-117M	24.4M	224M
(Income) Loss On Equity Investments - (CF)	-91.1M	-22.5M	-112M	-81.3M	-84.8M
Stock-Based Compensation (CF)	94.9M	89.9M	98.7M	112M	95.3M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	59M	-73.8M	85.3M	76.8M	8.7M
Change In Accounts Receivable	37.9M	27.9M	-166M	-41.2M	-1.8M
Change In Inventories	103M	-355M	-85.8M	-319M	288M
Change In Accounts Payable	392M	343M	457M	200M	-251M
Change in Other Net Operating Assets	260M	-172M	72.8M	112M	-24M
Cash from Operations	3.68B	2.98B	3.32B	2.78B	3.3B
Capital Expenditure	-461M	-531M	-569M	-690M	-774M
Sale of Property, Plant, and Equipment	1.7M	2.7M	3.3M	1.3M	800K
Cash Acquisitions	-	-	-1.2B	-252M	-452M
Divestitures	-	2.9M	74.1M	633M	-
Investment in Marketable and Equity Securities, Total	-48M	15.5M	15.4M	-32.2M	-2.7M
Other Investing Activities, Total	20.9M	-3.1M	-13.5M	-7.6M	30.5M
Cash from Investing	-486M	-513M	-1.69B	-346M	-1.2B
Short Term Debt Issued, Total	-	71.7M	551M	-	-
Long-Term Debt Issued, Total	1.64B	1.58B	2.2B	2.32B	2.07B
Total Debt Issued	1.64B	1.65B	2.76B	2.32B	2.07B
Short Term Debt Repaid, Total	-1.16B	-	-	-769M	-20.5M
Long-Term Debt Repaid, Total	-1.4B	-2.61B	-3.14B	-1.42B	-902M
Total Debt Repaid	-2.56B	-2.61B	-3.14B	-2.19B	-922M
Issuance of Common Stock	263M	74.3M	162M	232M	25.5M
Repurchase of Common Stock	-3.4M	-301M	-877M	-1.4B	-2B
Common Dividends Paid	-1.2B	-1.25B	-1.24B	-1.29B	-1.36B
Common & Preferred Stock Dividends Paid	-1.2B	-1.25B	-1.24B	-1.29B	-1.36B
Other Financing Activities, Total	-88.5M	-281M	-158M	-78.3M	-75.2M
Cash from Financing	-1.94B	-2.72B	-2.5B	-2.4B	-2.27B
Foreign Exchange Rate Adjustments	-20.7M	72.5M	-58M	-12M	-400K
Net Change in Cash	1.23B	-173M	-936M	16.1M	-168M
Supplemental Items
Cash Interest Paid	418M	412M	358M	337M	464M
Cash Income Tax Paid (Refund)	403M	636M	545M	683M	660M
Levered Free Cash Flow	2.73B	2.19B	1.7B	1.75B	1.84B
Unlevered Free Cash Flow	3.03B	2.46B	1.94B	2B	2.15B
Change In Net Working Capital	-850M	-105M	283M	-62.3M	77.2M
Net Debt Issued / Repaid	-917M	-961M	-386M	133M	1.14B

Fiscal Period: May	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.4	6.99	6.74	6.29	7.49
Return on Total Capital	8.62	9.48	9.19	8.64	10.3
Return On Equity %	26.3	24.35	25.84	24.29	24.75
Return on Common Equity	28.87	26.7	27.06	24.71	25.16
Margin Analysis
Gross Profit Margin %	34.93	35.59	33.73	32.61	35.01
SG&A Margin	17.24	16.26	15.85	16.95	16.03
EBITDA Margin %	21.07	22.65	20.87	18.38	21.76
EBITA Margin %	17.69	19.33	17.87	15.66	18.98
EBIT Margin %	17.69	19.33	17.87	15.66	18.98
Income From Continuing Operations Margin %	12.54	12.94	14.4	12.99	12.68
Net Income Margin %	12.37	12.91	14.25	12.91	12.57
Net Avail. For Common Margin %	12.37	12.91	14.25	12.91	12.57
Normalized Net Income Margin	9.56	11	10.14	8.78	10.51
Levered Free Cash Flow Margin	15.5	12.07	8.94	8.71	9.27
Unlevered Free Cash Flow Margin	17.18	13.54	10.21	9.94	10.84
Asset Turnover
Asset Turnover	0.58	0.58	0.6	0.64	0.63
Fixed Assets Turnover