General Mills, Inc. manufactures and markets branded consumer foods in the United States and internationally. The company operates through four segments: North America Retail; International; North America Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables. The company also manufactures and markets pet food products, including dog and cat food; and operates ice cream parlors. It markets its products under the Annies, Betty Crocker, Bisquick, Blue Buffalo, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, Dunkaroos, Edgard & Cooper, Fiber One, By The Foot, Gushers, Roll-Ups, Gardettos, Gold Medal, Golden Grahams, HΓ€agen-Dazs, Kitano, Kix, LΓ€rabar, Latina, Lucky Charms, As Well As Muir Glen, Nature Valley, Nudges, Oatmeal Crisp, Old El Paso, Pillsbury, Progresso, Tastefuls, Tiki Pets, Total, Totinos, Trix, True Chews, True Solutions, Wanchai Ferry, Wheaties, Wilderness, and Yoki brands. In addition, the company sells its products to 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. The company was founded in 1866 and is headquartered in Minneapolis, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $19.5B | $3.9B | $2.3B | $2.3B | 24.9% | -1.9% | -8.1% |
| 2024 | $19.9B | $4.1B | $2.5B | $2.5B | 26.6% | -1.2% | -3.8% |
| 2023 | $20.1B | $4.1B | $2.6B | $2.1B | 24.8% | 5.8% | -4.2% |
| 2022 | $19.0B | $4.2B | $2.7B | $2.7B | 25.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 18,992.80 | 20,094.20 | 19,857.20 | 19,486.60 |
| Cost Of Revenue | 12,590.60 | 13,548.40 | 12,925.10 | 12,753.60 |
| Gross Profit | 6,402.20 | 6,545.80 | 6,932.10 | 6,733 |
| Operating Expense | 3,147 | 3,500.40 | 3,259 | 3,445.80 |
| Operating Income | 3,255.20 | 3,045.40 | 3,673.10 | 3,287.20 |
| EBITDA | 4,163.30 | 4,083.20 | 4,079 | 3,922.80 |
| EBIT | 3,593 | 3,536.60 | 3,526.30 | 3,383.80 |
| Pretax Income | 3,209.60 | 3,140.50 | 3,028.30 | 2,835 |
| Tax Provision | 586.30 | 612.20 | 594.50 | 573.70 |
| Net Income | 2,707.30 | 2,593.90 | 2,496.60 | 2,295.20 |
| Net Income Common Stockholders | 2,707.30 | 2,593.90 | 2,496.60 | 2,284.70 |
| Total Expenses | 15,737.60 | 17,048.80 | 16,184.10 | 16,199.40 |
| Interest Expense | 383.40 | 396.10 | 498 | 548.80 |
| Interest Income | 3.80 | 14 | 18.80 | 24.60 |
| Selling General And Administration | 3,147 | 3,500.40 | 3,259 | 3,445.80 |
| Normalized EBITDA | 3,942.70 | 3,694.80 | 4,320.40 | 3,905.20 |
| Normalized Income | 2,527.07 | 2,281.21 | 2,690.69 | 2,281.16 |
| Market Cap | 18,662.83 | 18,662.83 | 18,662.83 | 18,662.83 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| General Mills, Inc.this co. | GIS | $19.5B | 8.13β discount | 2.03 | 24.9% | 8.56 |
| Kimberly-Clark Corporation | KMB | $32.5B | 16.07 | 21.62 | 134.6% | 12.56 |
| Church & Dwight Co., Inc. | CHD | $23.0B | 30.55 | 5.62 | 18.4% | 18.70 |
| Tyson Foods, Inc. | TSN | $22.1B | 47.56 | 1.25 | 2.6% | 11.69 |
| Dollar Tree, Inc. | DLTR | $21.4B |
| 15.96 |
| 5.45 |
| 34.2% |
| 11.34 |
| Bunge Global SA | BG | $20.6B | 29.67 | 1.52 | 5.1% | 15.79 |
| McCormick & Company, Incorporated | MKC | $13.8B | 17.55 | 2.41 | 13.8% | 13.37 |
| Brown-Forman Corporation | BF-B | $13.4B | 14.94 | 3.25 | 21.8% | 11.84 |
| Hormel Foods Corporation | HRL | $11.8B | 24.80 | 1.50 | 6.1% | 13.97 |
| Peer Median | - | 21.17 | 2.83 | 16.1% | 12.96 | |