General Mills Inc (GIS)
Consumer Staples · Packaged Foods & Meats · US stock · S&P 500 component
$35.18
▲ +2.61 (8.01%)
Fair valueFair
$35 −1.8% to fair value
$17fair band $29–$42$52
Day's range
$32.88 – $35.18
52-week range
$31.18 – $49.71
About General Mills Inc
Cheerios, Betty Crocker, Pillsbury, Nature Valley, Old El Paso, Progresso and Blue Buffalo pet food are among the brands of General Mills, a packaged food company. Its range covers cereal, baking mixes, snacks, frozen foods, meals and pet products. Customers are mainly grocery retailers, convenience and club stores, e-commerce platforms and food-service operators. The company is organised into retail, pet, food-service and international operations.
Sales were $18.3 billion over the last twelve months, earned by supplying branded food and pet products to retailers and food-service customers. Revenue has changed at -2.9% a year across the last three years. The operating margin is -1.1% and the business earns -1% on the capital invested in it. Net debt is 37.7 times EBITDA, and the dividend yield is 6.9%. On the site's X-Ray Score it receives 28 out of 100.
Price chart
52-wk range $31.18 – $49.71Volume 11,401,598Daily, split-adjusted
Vitals
Market cap$18.9B
52-week range$31.18 – $49.71
Volume (last day)11,401,598
P/E (TTM)–
EBIT / EV yield-0.6%
Free-cash-flow yield8.2%
Dividend yield6.9%
Revenue (TTM)$18.3B
Net income (TTM)−$895M
Operating margin-1.1%
Return on capital-0.8%
Debt incl. leases$13.6B
Cash & securities$433M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$35middle half of models $27 – $46
Fair
−1.8% to fair value
Average of the 9 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $35
Undervalued < $29Fair $29 – $42Overvalued > $42
P/B multiple
$46
P/S multiple
$48
EV/EBITDA multiple
$15
EV/revenue multiple
$44
10-year DCF, EBITDA exit
$46
5-year DCF, EBITDA exit
$36
10-year DCF, revenue exit
$20
5-year DCF, revenue exit
$27
Dividend discount, stable · not used
$97
Dividend discount, multi-stage · not used
$124
Earnings power value
$29
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
44/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield-0.6%
Free-cash-flow yield8.2%
Fair value vs price1.0×
Growth
Weak
9/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-2.9%
Growth consistency20%
Profitability
Weak
27/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital-0.8%
Operating margin-1.1%
Gross profitability20.3%
Financial health
Weak
19/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA37.7×
Dividends
Weak
46/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield6.9%
Dividends vs free cash flow85%
Dividend growth0.7%
Quarterly results: last 6 quarters
-3.3%
May '25
-6.8%
Aug '25
-7.2%
Nov '25
-8.4%
Feb '26
+1.2%
May '26
-2.8%
Aug '26
Revenue against the same quarter a year earlier. Latest quarter revenue $4.4B, diluted EPS $0.74.
Compare with peers
MKC Mccormick & Co Inc54 TSN Tyson Foods, Inc.43 HRL Hormel Foods Corp42 MDLZ Mondelez International...36Other Packaged Foods & Meats companies by X-Ray Score.
SWOT analysis: General Mills Inc
Strengthsinside the company
- Free cash flow equals 8.2% of the market value, which funds dividends, buybacks or debt paydown.
Weaknessesinside the company
- Return on invested capital is only -0.8% (median 4.1% for industry peers), so the business earns little above its cost of capital.
- Operating margin of -1.1% is thin against 4.7% for industry peers.
- Revenue has fallen 2.9% a year over three years while industry peers grew 0.7%.
- Net debt is 37.7x EBITDA, above the 3x level that lenders usually watch.
Opportunitiesvaluation and setting
- No specific opportunity is visible in our valuation, sector or growth data.
Threatsvaluation and setting
- Heavy debt makes profits sensitive to interest rates and refinancing conditions.
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare GIS with peers and sector
Medians of 5 Packaged Foods & Meats peers and of 28 Consumer Staples stocks in our universe.
Largest peers (X-Ray Score): MDLZ 36, KHC 29, TSN 43, MKC 54, HRL 42.
| Metric | GIS | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 28 | 42 | 51 |
| Valuation | 44 | 53 | 53 |
| Growth | 9 | 42 | 49 |
| Profitability | 27 | 29 | 53 |
| Financial health | 19 | 28 | 54 |
| Dividends | 46 | 54 | 51 |
Sector leaders: highest X-Ray Score in Consumer Staples
GIS ranks #28 of 29 in Consumer Staples and #6 of 6 in Packaged Foods & Meats by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for GIS
Each factor is rated by where GIS stands among the 29 Consumer Staples stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 4 Good · 4 Average · 11 Bad of 19
Growth: 0 · 0 · 2
Profitability: 0 · 1 · 4
Financial strength: 0 · 0 · 3
Valuation: 3 · 0 · 1
Cash flow: 1 · 1 · 1
Efficiency: 0 · 2 · 0
| Factor | GIS | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | −2.9% | Bad beats 9% | +2.3% | – | – |
| Revenue growth, last year | −5.4% | Bad beats 5% | +2.2% | −1.2% | ▼ Worse |
| Profitability | |||||
| Gross margin | 33.6% | Average beats 43% | 38.7% | 33.7% | ≈ In line |
| Operating margin | -1.1% | Bad beats 6% | 11.0% | 17.1% | ▼ Worse |
| Net margin | -4.9% | Bad beats 5% | 6.9% | 12.7% | ▼ Worse |
| Return on invested capital | -0.8% | Bad beats 6% | 15.2% | – | – |
| Return on equity | -12.0% | Bad beats 2% | 18.6% | 25.2% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | 37.7x | Bad beats 2% | 2.0x | 3.1x | ▼ Worse |
| Current ratio | 0.70 | Bad beats 20% | 1.04 | 0.67 | ≈ In line |
| Piotroski F-score | 5 / 9 | Bad beats 21% | 6 / 9 | – | – |
| Valuation | |||||
| Price / book | 2.5x | Good beats 71% | 4.5x | 4.1x | ▲ Better |
| Price / sales | 1.0x | Good beats 73% | 1.8x | 2.0x | ▲ Better |
| EV / EBITDA | 91.8x | Bad beats 2% | 15.2x | 13.3x | ▼ Worse |
| Free cash flow yield | 8.2% | Good beats 94% | 4.8% | 6.4% | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 8.5% | Average beats 44% | 9.3% | 11.8% | ▼ Worse |
| Free cash flow growth, 3 years a year | −8.0% | Bad beats 14% | +11.0% | – | – |
| Accruals (lower is better) | −9.8% | Good beats 90% | −4.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 5.6x | Average beats 56% | 5.3x | 6.7x | ▼ Worse |
| Days sales outstanding | 35 days | Average beats 45% | 35 days | 33 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 2 Good · ● 1 Average · ● 11 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldGood
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioBad
Net debt / EBITDABad
Valuation
Fair value vs priceAverage
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginBad
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 28/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $19.0B | $20.1B | $19.9B | $19.5B | $18.4B |
| Operating income | $3.5B | $3.4B | $3.4B | $3.3B | $886M |
| Net income | $2.7B | $2.6B | $2.5B | $2.3B | −$85M |
| Operating cash flow | $3.3B | $2.8B | $3.3B | $2.9B | $2.2B |
| Operating margin | 18.3% | 17.1% | 17.3% | 17.0% | 4.8% |
| Free cash flow | $2.7B | $2.1B | $2.5B | $2.3B | $1.6B |
| Diluted EPS | $4.42 | $4.31 | $4.31 | $4.10 | $-0.16 |
Fiscal years, from SEC filings.
Technical summary
Daily
Neutral
8 bullish · 1 neutral · 7 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Strongly bearish
0 bullish · 1 neutral · 7 bearish
Moving averages (daily)
| SMA 10 | 32.75 | Bullish |
| EMA 10 | 33.06 | Bullish |
| SMA 20 | 32.33 | Bullish |
| EMA 20 | 33.14 | Bullish |
| SMA 50 | 35.46 | Bearish |
| EMA 50 | 34.27 | Bullish |
| SMA 100 | 35.11 | Bullish |
| EMA 100 | 35.13 | Bullish |
| SMA 200 | 36.50 | Bearish |
| EMA 200 | 37.09 | Bearish |
Oscillators (daily)
| RSI (14) | 59.55 | Neutral |
| MACD (12, 26) | -0.40 | Bearish |
| Momentum (12) | 11.40 | Bullish |
| Stochastic %K (14) | 100.0 | Bearish |
| Williams %R (14) | 0.00 | Bearish |
| CCI (20) | 176.8 | Bearish |
Pivot points (classic, last session)
S3 31.35 | S2 32.11 | S1 33.65 | Pivot 34.41 | R1 35.95 | R2 36.71 | R3 38.25 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.44 USD
Yield on today's price
6.94%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.6100 | |
| 0.6100 | |
| 0.6100 | |
| 0.6100 | |
| 0.6100 | |
| 0.6100 | |
| 0.6000 | |
| 0.6000 | |
| 0.6000 | |
| 0.6000 | |
| 0.5900 | |
| 0.5900 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold GIS
| ETF | Share of the fund |
|---|---|
| RSPS Invesco S&P 500 Equal Weight Consumer... | 3.19% |
| SPHD Invesco S&P 500 High Dividend Low Vola... | 1.70% |
| DVY iShares Select Dividend | 1.48% |
| XLP Consumer Staples Select Sector SPDR | 1.21% |
| VALQ American Century STOXX U.S. Quality Va... | 0.95% |
| SPYD SPDR Portfolio S&P 500 High Dividend | 0.95% |
| FDL First Trust Morningstar Dividend Leade... | 0.88% |
| IYK iShares US Consumer Staples | 0.87% |
The eight funds with the largest weight in GIS among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
GIS stock splits
GIS has split its stock 3 times since 1990. The latest was a 2-for-1 split on 9 Jun 2010.
Full GIS stock split history →GIS SEC filings
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
10-KSEC EDGAR
Annual report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Director or officer change
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.