Financials General Mills, Inc.

Equities

GIS

US3703341046

Food Processing

Market Closed - Nyse 04:00:02 2024-02-28 pm EST 5-day change 1st Jan Change
64.3 USD +0.14% Intraday chart for General Mills, Inc. -2.00% -1.29%

Valuation

Fiscal Period: May 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 30,592 37,526 38,343 42,089 49,444 36,464 - -
Enterprise Value (EV) 1 44,632 49,388 49,450 53,140 60,564 48,241 47,815 47,511
P/E ratio 17.6 x 17.4 x 16.6 x 15.8 x 19.5 x 14.8 x 13.6 x 12.6 x
Yield 3.84% 3.17% 3.21% 2.92% 2.57% 3.68% 3.82% 3.99%
Capitalization / Revenue 1.81 x 2.13 x 2.12 x 2.22 x 2.46 x 1.82 x 1.8 x 1.76 x
EV / Revenue 2.65 x 2.8 x 2.73 x 2.8 x 3.01 x 2.41 x 2.36 x 2.3 x
EV / EBITDA 12.8 x 13.5 x 13.2 x 14 x 15.1 x 11.6 x 11.2 x 10.8 x
EV / FCF 19.7 x 15.4 x 20.2 x 19.3 x 29 x 17.9 x 17.3 x 16.7 x
FCF Yield 5.08% 6.51% 4.96% 5.17% 3.45% 5.58% 5.77% 5.98%
Price to Book 4.36 x 4.68 x 4.03 x 3.97 x 4.73 x 3.64 x 3.38 x 3.13 x
Nbr of stocks (in thousands) 598,791 606,139 609,971 602,212 587,354 567,890 - -
Reference price 2 51.09 61.91 62.86 69.89 84.18 64.21 64.21 64.21
Announcement Date 6/26/19 7/1/20 6/30/21 6/29/22 6/28/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: May 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 16,865 17,627 18,127 18,993 20,094 20,017 20,280 20,663
EBITDA 1 3,478 3,653 3,754 3,784 4,004 4,167 4,270 4,394
EBIT 1 2,858 3,058 3,153 3,213 3,457 3,608 3,675 3,788
Operating Margin 16.95% 17.35% 17.4% 16.92% 17.21% 18.02% 18.12% 18.33%
Earnings before Tax (EBT) 1 2,082 2,600 2,857 3,210 3,140 3,197 3,320 3,504
Net income 1 1,753 2,181 2,340 2,707 2,594 2,524 2,702 2,830
Net margin 10.39% 12.37% 12.91% 14.25% 12.91% 12.61% 13.32% 13.7%
EPS 2 2.900 3.560 3.780 4.420 4.310 4.329 4.725 5.098
Free Cash Flow 1 2,269 3,215 2,452 2,747 2,089 2,692 2,760 2,843
FCF margin 13.45% 18.24% 13.53% 14.47% 10.4% 13.45% 13.61% 13.76%
FCF Conversion (EBITDA) 65.24% 88.03% 65.32% 72.61% 52.18% 64.6% 64.62% 64.7%
FCF Conversion (Net income) 129.46% 147.41% 104.81% 101.48% 80.54% 106.64% 102.14% 100.47%
Dividend per Share 2 1.960 1.960 2.020 2.040 2.160 2.360 2.455 2.564
Announcement Date 6/26/19 7/1/20 6/30/21 6/29/22 6/28/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: May 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 4,540 5,024 4,538 4,891 4,718 5,221 5,126 5,030 4,905 5,139 4,963 4,982 4,901 5,204 5,073
EBITDA 1 965 962.4 820.2 1,036 1,016 1,019 944.1 1,025 1,036 1,118 991.7 1,028 1,040 1,126 1,036
EBIT 1 819.2 821.3 676.5 896.3 881.2 879.7 807 889.4 899 989.4 852.6 882 897.1 975.1 887.7
Operating Margin 18.04% 16.35% 14.91% 18.32% 18.68% 16.85% 15.74% 17.68% 18.33% 19.25% 17.18% 17.71% 18.31% 18.74% 17.5%
Earnings before Tax (EBT) 1 778 735.1 755.9 940.6 1,020 730 653.5 737.4 830 714.1 747.9 777 806.9 862 812
Net income 1 627 597.2 660.3 822.8 820 605.9 553.1 614.9 673.5 595.5 603.9 636.8 660.4 706.2 657.8
Net margin 13.81% 11.89% 14.55% 16.82% 17.38% 11.61% 10.79% 12.22% 13.73% 11.59% 12.17% 12.78% 13.47% 13.57% 12.96%
EPS 2 1.020 0.9700 1.080 1.350 1.350 1.010 0.9200 1.030 1.140 1.020 1.054 1.098 1.128 1.250 1.130
Dividend per Share 2 0.5100 0.5100 0.5100 0.5100 0.5400 0.5400 - 0.5400 - - 0.5900 0.5900 0.6148 0.6148 0.6195
Announcement Date 9/22/21 12/21/21 3/23/22 6/29/22 9/21/22 12/20/22 3/23/23 6/28/23 9/20/23 12/20/23 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: May 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 14,040 11,862 11,107 11,051 11,120 11,777 11,351 11,047
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 4.037 x 3.247 x 2.958 x 2.921 x 2.777 x 2.826 x 2.658 x 2.514 x
Free Cash Flow 1 2,269 3,215 2,452 2,747 2,089 2,692 2,760 2,843
ROE (net income / shareholders' equity) 29.6% 28.9% 26.8% 24.1% 24.6% 25.5% 26.1% 26.1%
ROA (Net income/ Total Assets) 5.77% 7.16% 7.49% 7.67% 8.27% 8.15% 8.49% 8.71%
Assets 1 30,376 30,459 31,222 35,315 31,362 30,952 31,828 32,474
Book Value Per Share 2 11.70 13.20 15.60 17.60 17.80 17.60 19.00 20.50
Cash Flow per Share 2 4.640 5.990 4.820 5.410 4.620 5.730 5.740 6.150
Capex 1 538 461 531 569 690 763 775 779
Capex / Sales 3.19% 2.61% 2.93% 2.99% 3.43% 3.81% 3.82% 3.77%
Announcement Date 6/26/19 7/1/20 6/30/21 6/29/22 6/28/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
22
Last Close Price
64.21 USD
Average target price
68.63 USD
Spread / Average Target
+6.88%
Consensus
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