Is the business good?
How good a business is GIS?
General Mills earns 3.4% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
3.4%
Return on invested capital · cost of capital 9.0% · 5.6 points below what the capital costs: growth destroys value
- Operating margin
- 4.8%
Operating margin · Packaged Foods median 8.2% · 12 months to Q4 2026
- Gross margin
- 34%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | 17% |
| FY2022 | 18% |
| FY2023 | 17% |
| FY2024 | 17% |
| FY2025 | 17% |
| FY2026 | 4.8% |
Details›
- Gross margin12 months to Q4 2026
- 34%
- Operating margin12 months to Q4 2026
- 4.8%
- Net margin12 months to Q4 2026
- −0.48%
- Free cash flow margin
- 8.8%
- Revenue, trailing twelve months
- $18.4B
- Free cash flow, trailing twelve months
- $1.63B
- Net income, trailing twelve months
- −$88M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 3.4%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.