General Mills, Inc.
- Open
- 37.26
- Day high
- 37.93
- Day low
- 37.05
- Prev close
- 37.58
- Volume
- 3.6M
- Mkt cap
- $20.0B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.7
- P/S
- 1.1
- Yield
- 3.25%
- Per share
- $1.22
- ▼Insiders net selling -$619K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
General Mills, Inc. (GIS) is a Consumer Defensive company listed on NYSE. The stock is down 24% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
General Mills, Inc. (GIS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 14 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GIS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Mar 18, 2026 | $0.73 | $0.64 | -12.1% | $4.4B | +0.6% |
| Dec 17, 2025 | $1.03 | $1.10 | +6.8% | $4.9B | +1.7% |
| Sep 17, 2025 | $0.82 | $0.86 | +5.1% | $4.5B | -0.4% |
| Jun 25, 2025 | $0.71 | $0.74 | +4.4% | $4.6B | -0.6% |
| Mar 19, 2025 | $0.96 | $1.00 | +4.4% | $4.8B | -2.2% |
| Dec 18, 2024 | $1.22 | $1.40 | +14.8% | $5.2B | +1.9% |
| Sep 18, 2024 | $1.06 | $1.07 | +0.9% | $4.8B | +1.0% |
| Mar 20, 2024 | $1.05 | $1.17 | +11.4% | $5.1B | +2.6% |
| Dec 20, 2023 | $1.16 | $1.25 | +7.8% | $5.1B | -3.9% |
| Sep 20, 2023 | $1.08 | $1.09 | +0.9% | $4.9B | +0.4% |
| Mar 23, 2023 | $0.93 | $0.97 | +4.3% | $5.1B | -0.2% |
| Dec 20, 2022 | $1.07 | $1.10 | +2.8% | $5.2B | +0.5% |
GIS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | THISSEN KAREN WILSONofficer: General Counsel & Secretary | Grant | 11,767 | — |
| Jul 8, 2026 | Pallot Mark Aofficer: Chief Accounting Officer | Grant | 2,077 | — |
| Jul 8, 2026 | Sharma Pankaj MNofficer: Segment President | Grant | 6,576 | — |
| Jul 8, 2026 | Mascolo Elizabethofficer: Segment President | Grant | 6,576 | — |
| Jul 8, 2026 | Fernandez Ricardoofficer: Segment President | Grant | 6,576 | — |
| Jul 8, 2026 | Saksena Asheeshofficer: Chief S&G Officer | Grant | 13,063 | — |
| Jul 8, 2026 | Williams-Roll Jacquelineofficer: Chief Human Resources Officer | Grant | 44,989 | $36.12 |
| Jul 8, 2026 | THISSEN KAREN WILSONofficer: General Counsel & Secretary | Grant | 58,832 | $36.12 |
| Jul 8, 2026 | Shaffer Werner Lanetteofficer: Chief Innovation Officer | Grant | 32,877 | $36.12 |
| Jul 8, 2026 | Bruce Kofi Aofficer: Chief Financial Officer | Grant | 24,225 | — |
| Jul 8, 2026 | Ness Jonathan Davidofficer: Chief Supply Chain Officer | Grant | 5,884 | — |
| Jul 8, 2026 | Fernandez Ricardoofficer: Segment President | Grant | 32,877 | $36.12 |
| Jul 8, 2026 | Bruce Kofi Aofficer: Chief Financial Officer | Grant | 121,125 | $36.12 |
| Jul 8, 2026 | Montemayor Jaimeofficer: Chief Technology Officer | Grant | 17,304 | — |
| Jul 8, 2026 | Ness Jonathan Davidofficer: Chief Supply Chain Officer | Grant | 29,416 | $36.12 |
Source: GIS SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full GIS insider & 13F page →General Mills, Inc. company profile
Overview
General Mills, Inc. (NYSE:GIS) is a multinational manufacturer and marketer of branded consumer foods founded in 1866 and headquartered in Minneapolis, Minnesota. The company has evolved from a flour milling operation into one of the world's largest food companies, with a portfolio of well-known brands including Cheerios, Betty Crocker, Häagen-Dazs, Blue Buffalo, and Pillsbury. General Mills operates across multiple food categories and geographic markets, serving consumers through retail channels, foodservice operations, and pet specialty stores worldwide.
Business
General Mills operates in the packaged foods industry, manufacturing and marketing branded consumer food products across five primary business segments. The company's core business revolves around creating, producing, and distributing food products that consumers purchase for at-home consumption and away-from-home dining. The North America Retail segment represents the largest portion of the business, encompassing ready-to-eat cereals (Cheerios, Lucky Charms, Cinnamon Toast Crunch), baking products (Betty Crocker mixes, Pillsbury refrigerated dough), snacks (Nature Valley bars, fruit snacks), frozen foods (Totino's pizza), and refrigerated products (Yoplait yogurt). This segment generates approximately 60-65% of total revenue. The Pet segment, anchored by the Blue Buffalo brand acquired in 2018, produces premium dog and cat food products including dry kibble, wet food, and treats. This high-growth, high-margin segment contributes roughly 15-20% of total revenue and focuses on natural and premium pet nutrition. The Convenience Stores & Foodservice segment supplies food products to restaurants, schools, healthcare facilities, and other institutional customers, representing about 10-12% of revenue. The Europe & Australia segment markets Häagen-Dazs ice cream, Old El Paso Mexican foods, and other brands in these regions, contributing approximately 6-8% of revenue. The Asia & Latin America segment includes Häagen-Dazs operations in China and other international markets, along with local brands like Yoki in Brazil, accounting for the remaining 4-6% of revenue. The packaged foods industry serves the fundamental consumer need for convenient, shelf-stable, and ready-to-consume food products that can be stored at home and prepared quickly.
Revenue model
General Mills generates revenue primarily through product sales to retailers, foodservice operators, and distributors who then sell to end consumers. The company operates on a traditional consumer packaged goods business model where it manufactures products at scale and sells them with markup to cover costs and generate profit. The company's customers include grocery stores, mass merchandisers like Walmart and Target, membership stores like Costco, natural food chains, e-commerce retailers like Amazon, restaurants, schools, and pet specialty stores. Revenue comes from the sale of finished goods at wholesale prices, with retailers then marking up products for consumer sale. General Mills' profitability depends heavily on managing input costs (commodities like wheat, corn, sugar, and packaging materials) while maintaining pricing power with both retailers and consumers. The company employs Holistic Margin Management (HMM) strategies to drive cost savings through operational efficiency, supply chain optimization, and productivity improvements, typically targeting 4-5% annual cost savings. Factors that increase margins include successful pricing actions during inflationary periods, growing higher-margin categories like pet food (24% operating margins), effective cost management through HMM initiatives, and premiumization of products. Margin pressures come from commodity price inflation (particularly grains and packaging), increased promotional spending to maintain market share, supply chain disruptions, and consumer resistance to price increases during economic downturns. The company's scale advantages in procurement, manufacturing, and distribution help maintain competitive margins, while brand strength provides some pricing power during inflationary periods.
Competitive moat
General Mills possesses a moderate economic moat built primarily on brand recognition, distribution scale, and manufacturing efficiency, though this moat faces increasing pressure from changing consumer preferences and competitive dynamics. The company's strongest moat elements include decades-old household brand names like Cheerios, Betty Crocker, and Pillsbury that command premium shelf space and consumer loyalty. These brands benefit from significant switching costs in consumer behavior and substantial marketing investments that smaller competitors cannot easily match. The company's scale provides advantages in procurement, manufacturing efficiency, and retail relationship management, while its distribution network reaches virtually every grocery channel in North America. However, General Mills' moat is under pressure from several directions. Private label products continue gaining share by offering similar quality at lower prices, particularly during economic stress. Emerging brands focused on health, sustainability, and specialty diets are capturing consumer attention and shelf space. The rise of e-commerce and direct-to-consumer brands reduces traditional distribution advantages, while changing consumer preferences toward fresh, organic, and minimally processed foods challenge many of the company's core categories. The pet food segment through Blue Buffalo represents the company's strongest competitive position, with premium positioning, strong brand loyalty, and higher barriers to entry due to specialized nutrition requirements. However, even this segment faces increasing competition from specialty and direct-to-consumer pet food brands. Overall, while General Mills maintains meaningful competitive advantages, these are gradually eroding rather than strengthening, requiring continuous investment in brand building, innovation, and operational efficiency to maintain market position.
Risks & safety
General Mills presents a moderate margin of safety with solid fundamentals but some balance sheet concerns and valuation considerations. **Cash Flow and Debt Analysis:** - Strong free cash flow generation of $2.5+ billion annually provides substantial financial flexibility - Current debt-to-equity ratio of 1.53 indicates elevated leverage, though manageable for a stable cash generator - Current ratio of 0.67 shows working capital constraints, typical for food companies with efficient inventory management - Interest coverage appears adequate given consistent EBITDA generation of $4+ billion annually **Valuation Metrics:** - Trading at P/E ratio of 13.5x, reasonable for a mature consumer staples company - EV/EBITDA of 12.8x reflects fair valuation relative to industry peers - Price-to-book ratio of 3.7x suggests some premium to tangible assets, justified by brand value **Other Considerations:** - Dividend yield provides income support with long history of payments - Exposure to commodity price volatility creates earnings variability - Market share pressures in core categories pose long-term growth challenges
Recent development
Over the past few years, General Mills has implemented significant strategic shifts focused on portfolio optimization, operational efficiency, and competitive positioning. The company divested its yogurt business to streamline operations and reduce overhead costs, while simultaneously pursuing bolt-on acquisitions like the proposed Whitebridge Pet Brands purchase to strengthen its high-growth pet food segment. The company has dramatically increased investment in brand building and marketing, including a 20% increase in coupon spending and substantial increases in advertising expenditure. Management shifted to a "fewer but bigger" innovation strategy, focusing resources on major product launches rather than numerous smaller initiatives. This includes introducing protein-enhanced versions of core brands like Cheerios Protein and expanding functional benefits across the portfolio. Operationally, General Mills has intensified its Holistic Margin Management (HMM) program, consistently achieving 4-5% annual cost savings to offset inflation and fund growth investments. The company has also made significant supply chain investments, particularly expanding capacity in high-growth categories like pet food and fruit snacks. In response to competitive pressures, management has implemented comprehensive value positioning reviews across categories, adjusting pricing strategies and promotional activities to improve volume performance while maintaining profitability. The international strategy has evolved to focus on markets showing the strongest growth potential, with particular attention to improving performance in challenging markets like China while maintaining strength in Europe and Australia. Throughout these changes, the company has maintained its commitment to returning cash to shareholders through dividends while pursuing strategic acquisitions to enhance growth prospects.
GIS company profile · for informational purposes only — not investment advice.
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