General Mills

NYSE: GIS Share price (08/07/26): $36.89 Industry: Grain Mill Products

Financials

Type	Title	Date	Extracts
10-K	FY2026 ended 05/31/26	07/01/26	PR	IS	BS	CFS
10-Q	Q3 ended 02/22/26	03/18/26	PR	IS	BS	CFS
10-Q	Q2 ended 11/23/25	12/17/25	PR	IS	BS	CFS
10-Q	Q1 ended 08/24/25	09/17/25	PR	IS	BS	CFS
10-K	FY2025 ended 05/25/25	06/26/25	PR	IS	BS	CFS
10-Q	Q3 ended 02/23/25	03/19/25	PR	IS	BS	CFS
10-Q	Q2 ended 11/24/24	12/18/24	PR	IS	BS	CFS
10-Q	Q1 ended 08/25/24	09/18/24	PR	IS	BS	CFS
10-K	FY2024 ended 05/26/24	06/26/24	PR	IS	BS	CFS
10-Q	Q3 ended 02/25/24	03/20/24	PR	IS	BS	CFS

Transcripts and slides

Title	Links		Date
Earnings Call Q4 FY2026	Transcript	Slides	07/01/26
Presents at 23rd annual dbAccess Global Consumer Conference, Jun-04-2026 08:30 AM	Transcript		06/04/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Presents at Consumer Analyst Group of New York Conference 2026, Feb-17-2026 08:00 AM	Transcript	Slides	02/17/26
Earnings Call Q2 FY2026	Transcript		12/17/25
Earnings Call Q2 FY2026	Transcript		12/17/25
Presents at J.P. Morgan U.S. Opportunities Forum, Nov-12-2025 10:50 AM	Transcript		11/12/25

Ownership

Type	Title	Date
4	Bruce Kofi a	08/04/26
4	Williams-Roll Jacqueline	07/09/26
4	Bruce Kofi a	07/08/26
4	Shaffer Werner Lanette	07/08/26
4	Saksena Asheesh	07/08/26
4	Pallot Mark a	07/08/26
4	Mcnabb Dana M	07/08/26
4	Ness Jonathan David	07/08/26
4	Montemayor Jaime	07/08/26
4	Sharma Pankaj MN	07/08/26

Other

Type	Title	Date
CERT	Certification approving securities for listing	04/23/26
ARS	Annual report to security holders	08/11/25
CERT	Certification approving securities for listing	04/22/25
ARS	Annual report to security holders	08/12/24
CERT	Certification approving securities for listing	05/03/24
ARS	Annual report to security holders	08/14/23
CERT	Certification approving securities for listing	04/14/23
CERT	Certification approving securities for listing	12/02/21
EFFECT	Notice of effectiveness	11/19/21
CORRESP	Correspondence with the SEC	11/17/21

News

Type	Title	Date
8-K	Financial Results, Financial Statements and Exhibits	07/01/26
8-K	Change in Directors or Compensation, Financial Statements and Exhibits	05/06/26
8-K	Change in Directors or Compensation	05/04/26
8-K	Rights of Security Holders	04/16/26
8-K	Financial Results, Financial Statements and Exhibits	03/18/26
8-K	Articles of Incorporation and Bylaws	01/27/26
8-K	Financial Results, Financial Statements and Exhibits	12/17/25
8-K	Voting Matters	10/03/25
8-K	Costs Associated with Exit or Disposal	10/01/25
8-K	Financial Results, Financial Statements and Exhibits	09/17/25

Prospectuses and Registrations

Type	Title	Date
8-A12B	Registration of securities on exchange	04/23/26
424B5	Prospectus supplement for primary offering	04/13/26
FWP	Free writing prospectus	04/09/26
424B5	Prospectus supplement for primary offering	04/08/26
424B5	Prospectus supplement for primary offering	04/08/26
25-NSE	Removal from listing	01/15/26
25-NSE	Removal from listing	11/18/25
8-A12B	Registration of securities on exchange	04/22/25
424B5	Prospectus supplement for primary offering	04/16/25
FWP	Free writing prospectus	04/14/25

Proxies

Type	Title	Date
PRE 14A	Preliminary proxy statement	08/03/26
PX14A6G	Letter to shareholders (ACCOUNTABILITY BOARD, INC.)	09/15/25
PX14A6G	Letter to shareholders (AS YOU SOW)	08/21/25
DEF 14A	Definitive proxy statement	08/11/25
DEFA14A	Definitive additional materials	08/11/25
PX14A6G	Letter to shareholders (AS YOU SOW)	08/22/24
PX14A6G	Letter to shareholders (Green Century Capital Management, Inc.)	08/19/24
DEFA14A	Definitive additional materials	08/12/24
DEF 14A	Definitive proxy statement	08/12/24
PX14A6G	Letter to shareholders (Chevedden John)	08/30/23

Non-Ownership

Type	Title	Filed
PRE 14A	Preliminary proxy statement	08/03/26
10-K	FY2026 ended 05/31/26	07/01/26
8-K	Financial Results, Financial Statements and Exhibits	07/01/26
8-K	Change in Directors or Compensation, Financial Statements and Exhibits	05/06/26
8-K	Change in Directors or Compensation	05/04/26
8-A12B	Registration of securities on exchange	04/23/26
CERT	Certification approving securities for listing	04/23/26
8-K	Rights of Security Holders	04/16/26
424B5	Prospectus supplement for primary offering	04/13/26
FWP	Free writing prospectus	04/09/26
424B5	Prospectus supplement for primary offering	04/08/26
424B5	Prospectus supplement for primary offering	04/08/26
8-K	Financial Results, Financial Statements and Exhibits	03/18/26
10-Q	Q3 ended 02/22/26	03/18/26
8-K	Articles of Incorporation and Bylaws	01/27/26
25-NSE	Removal from listing	01/15/26
8-K	Financial Results, Financial Statements and Exhibits	12/17/25
10-Q	Q2 ended 11/23/25	12/17/25
25-NSE	Removal from listing	11/18/25
8-K	Voting Matters	10/03/25

Ownership

Type	Title	Filed
4	Bruce Kofi a	08/04/26
4	Williams-Roll Jacqueline	07/09/26
4	Sharma Pankaj MN	07/08/26
4	Ness Jonathan David	07/08/26
4	Montemayor Jaime	07/08/26
4	Mcnabb Dana M	07/08/26
4	Mascolo Elizabeth	07/08/26
4	Harmening Jeffrey L	07/08/26
4	Bruce Kofi a	07/08/26
4	Pallot Mark a	07/08/26
4	Saksena Asheesh	07/08/26
4	Shaffer Werner Lanette	07/08/26
4	Thissen Karen Wilson	07/08/26
4	Williams-Roll Jacqueline	07/08/26
4	Fernandez Ricardo	07/08/26
4	Williams-Roll Jacqueline	07/06/26
4	Ness Jonathan David	07/02/26
4	Saksena Asheesh	07/02/26
4	Montemayor Jaime	07/02/26
4	Mcnabb Dana M	07/02/26

Title	Links		Date
Earnings Call Q4 FY2026	Transcript	Slides	07/01/26
Presents at 23rd annual dbAccess Global Consumer Conference, Jun-04-2026 08:30 AM	Transcript		06/04/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Earnings Call Q3 FY2026	Transcript	Slides	03/18/26
Presents at Consumer Analyst Group of New York Conference 2026, Feb-17-2026 08:00 AM	Transcript	Slides	02/17/26
Earnings Call Q2 FY2026	Transcript		12/17/25
Earnings Call Q2 FY2026	Transcript		12/17/25
Presents at J.P. Morgan U.S. Opportunities Forum, Nov-12-2025 10:50 AM	Transcript		11/12/25

- Business

COMPANY OVERVIEW

For 160 years, General Mills has been making food the world loves. We are a leading global manufacturer and marketer of branded

consumer foods with more than 100 brands in 100 countries across six continents. In addition to our consolidated operations, we have

50 percent interests in two strategic joint ventures that manufacture and market food products sold in approximately 120 countries

worldwide.

We manage and review the financial results of our business under four operating segments: North America Retail; International; North

America Pet; and North America Foodservice. See Management’s Discussion and Analysis of Financial Condition and Results of

Operations (MD&A) in Item 7 of this report for a description of our segments.

We offer a variety of human and pet food products that provide great taste, nutrition, convenience, and value for consumers around the

world. Our business is focused on the following large, global categories:

•snacks, including grain, fruit and savory snacks, nutrition bars, and frozen hot snacks;

•ready-to-eat cereal;

•convenient meals, including meal kits, ethnic meals, pizza, soup, side dish mixes, frozen breakfast, and frozen entrees;

•wholesome natural pet food;

•refrigerated and frozen dough;

•baking mixes and ingredients; and

•super-premium ice cream.

Our Cereal Partners Worldwide (CPW) joint venture with Nestlé S.A. (Nestlé) competes in the ready-to-eat cereal category in markets

outside North America, and our Häagen-Dazs Japan, Inc. (HDJ) joint venture competes in the super-premium ice cream category in

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8 of this report.

The terms “General Mills,” “Company,” “registrant,” “we,” “us,” and “our” mean General Mills, Inc. and all subsidiaries included in

the Consolidated Financial Statements in Item 8 of this report unless the context indicates otherwise.

Certain terms used throughout this report are defined in a glossary in Item 8 of this report.

Customers

Our primary customers are grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount

chains, e-commerce retailers, commercial and noncommercial foodservice distributors and operators, restaurants, convenience stores,

and pet specialty stores. We generally sell to these customers through our direct sales force. We use broker and distribution

arrangements for certain products and to serve certain types of customers and certain markets. For further information on our customer

During

fiscal 2026, Walmart Inc. and its affiliates (Walmart) accounted for 22 percent of our consolidated net sales and 31 percent of net sales

of our North America Retail segment. No other customer accounted for 10 percent or more of our consolidated net sales. For further

Competition

The human and pet food categories are highly competitive, with numerous manufacturers of varying sizes in the United States and

throughout the world. The categories in which we participate also are very competitive. Our principal competitors in these categories

are manufacturers, as well as retailers with their own branded products. Competitors market and sell their products through brick-and-

mortar stores and e-commerce. All our principal competitors have substantial financial, marketing, and other resources. Competition in

our product categories is based on product innovation, product quality, price, brand recognition and loyalty, effectiveness of

marketing, promotional activity, convenient ordering and delivery to the consumer, and the ability to identify and satisfy consumer

preferences. Our principal strategies for competing in each of our segments include unique consumer insights, effective customer

relationships, superior product quality, innovative advertising, product promotion, product innovation aligned with consumers’ needs,

an efficient supply chain, and price. In most product categories, we compete not only with other widely advertised, branded products,

but also with regional brands and with generic and private label products that are generally sold at lower prices. Internationally, we

compete with both multi-national and local manufacturers, and each country includes a unique group of competitors.

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52 week	high $51.33	low $31.75
Download 5-year share price history

Economic Data
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Operating Lease as Debt

Lease and SBC Data:
EV Bridge
Share price [GIS]	$36.89
Shares outstanding (m)	??
Dilution adjustment (m)	??
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Diluted market capitalization ($m)	??
NCI ($m)	??
Debt (incl. operating lease) ($m)	??
After-tax pension liability ($m)	??
Short-term financial assets and cash ($m)	??
Long-term financial assets ($m)	??
Enterprise value (incl. operating lease) ($m)	33,083.5
Net debt for credit metrics ($m)	??
Operating lease liability ($m)	402.4
Annual operating lease expense ($m)	138.5
Annual stock-based comp expense ($m)	79.4

Lease and SBC Data:
EV Bridge
Share price [GIS]	$36.89
Shares outstanding (m)	??
Dilution adjustment (m)	??
Diluted shares outstanding (m)	??
Diluted market capitalization ($m)	??
NCI ($m)	??
Debt ($m)	??
After-tax pension liability ($m)	??
Short-term financial assets and cash ($m)	??
Long-term financial assets ($m)	??
Enterprise value ($m)	32,681.1
Net debt for credit metrics ($m)	??
Operating lease liability ($m)	402.4
Annual operating lease expense ($m)	138.5
Annual stock-based comp expense ($m)	79.4


Calculating WACC
	36.89
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WACC

Comps Builder Comps Excel Download	Market cap ($B) Market cap ($B)	P/E CY1 P/E CY1	EV / CY1 EBITDA EV / CY1 EBITDAR	EV / CY1 Revenue EV / CY1 Revenue	CY1 EBITDA Margin CY1 EBITDAR Margin	2 Yr Revenue CAGR (Fwd) 2 Yr Revenue CAGR (Fwd)	Adj. lev. beta Adj. lev. beta	Total debt / LTM EBITDA Total debt / LTM EBITDAR	Debt / Capital Debt / Capital	Credit rating (Moodys / S&P)
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Earnings
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Market data by Finnhub | Earnings forecasts by Factset | Economic data from FRED | Fundamental data by Financial Edge
Please notify us of any data inaccuracies. All critical data usage must be externally validated.