Market Cap : 42.09 B | Enterprise Value : 53.25 B | PE Ratio : 18.68 | PB Ratio : 4.29 |
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General Mills's earnings before interest and taxes (EBIT) for the three months ended in Feb. 2022 was $652 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2022 was $2,971 Mil.
EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. General Mills's annualized ROC % for the quarter that ended in Feb. 2022 was 7.31%. General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2022 was 79.31%.
EBIT is also linked to Joel Greenblatt's definition of earnings yield. General Mills's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2022 was 5.58%.
The historical data trend for General Mills's EBIT can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.
EBIT for the trailing twelve months (TTM) ended in Feb. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,971 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
General Mills's annualized ROC % for the quarter that ended in Feb. 2022 is calculated as:
ROC % (Q: Feb. 2022 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Nov. 2021 ) | + | Invested Capital (Q: Feb. 2022 )) | / count ) |
= | 2609.2 * ( 1 - 16.3% ) | / | ( (30232.4 | + | 29479.6) | / 2 ) |
= | 2183.9004 | / | 29856 | |||
= | 7.31 % |
where
Invested Capital | (Q: Nov. 2021 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 32481.6 | - | 3450 | - | ( 1021 | - | max(0, 7813.2 | - | 6612.4 | + | 1021 | )) |
= | 30232.4 |
Invested Capital | (Q: Feb. 2022 ) | |||||||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | Excess Cash | |||||||
= | Total Assets | - | Accounts Payable & Accrued Expense | - | ( Cash, Cash Equivalents, Marketable Securities | - | max(0, Total Current Liabilities | - | Total Current Assets | + | Cash, Cash Equivalents, Marketable Securities | )) |
= | 31143.8 | - | 3474.6 | - | ( 844.4 | - | max(0, 6839 | - | 5028.6 | + | 844.4 | )) |
= | 29479.6 |
Note: The Operating Income data used here is four times the quarterly (Feb. 2022) data.
2. Joel Greenblatt's definition of Return on Capital:
General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2022 is calculated as:
ROC (Joel Greenblatt) % | (Q: Feb. 2022 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Nov. 2021 | Q: Feb. 2022 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 2609.2 | / | ( ( (3291.5 + max(-523.1, 0)) | + | (3287.9 + max(-1329.8, 0)) ) | / | 2 ) |
= | 2609.2 | / | ( ( 3291.5 | + | 3287.9 ) | / | 2 ) |
= | 2609.2 | / | 3289.7 | ||||
= | 79.31 % |
where Working Capital is:
Working Capital | (Q: Nov. 2021 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (1766.1 | + | 1797.3 | + | 2028) | - | (3450 | + | 0 | + | 2664.5) |
= | -523.1 |
Working Capital | (Q: Feb. 2022 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (1750.4 | + | 1710 | + | 723.8) | - | (3474.6 | + | 0 | + | 2039.4) |
= | -1329.8 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is four times the quarterly (Feb. 2022) EBIT data.
3. It is also linked to Joel Greenblatt's definition of Earnings Yield:
General Mills's Earnings Yield (Joel Greenblatt) % for today is calculated as:
Earnings Yield (Joel Greenblatt) % | = | EBIT (TTM) | / | Enterprise Value (Q: Feb. 2022 ) |
= | 2971 | / | 53254.948 | |
= | 5.58 % |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Thank you for viewing the detailed overview of General Mills's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.
Walker Sean N | officer: Group President | NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426 |
Church John R | officer: Chief SC & GBS Officer | ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426 |
Nudi Jonathon | officer: Group President | GENERAL MILLS, INC. ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426 |
Henry Maria | director | C/O THE HILLSHIRE BRANDS COMPANY 3500 LACEY ROAD DOWNERS GROVE IL 60515 |
Neal Diane L | director | PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: NEAL DIANE L a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;} |
Jenkins Jo Ann | director | 2211 SOUTH 47TH STREET PHOENIX AZ 85034 |
Lempres Elizabeth Cahill | director | TWO COMMERCE SQUARE 2001 MARKET STREET, SUITE 3600 PHILADELPHIA PA 19103 |
Uribe Jorge A. | director | 5 WESTBROOK CORPORATE CENTER WESTCHESTER IL 60154 |
Cordani David | director | CIGNA CORPORATION 900 COTTAGE GROVE ROAD BLOOMFIELD CT 06002 |
Odland Stephen A | director | ONE GENERAL MILLS BLVD M03-08 MINNEAPOLIS MN 55426 |
Clark R Kerry | director | C/O THE PROCTER & GAMBLE COMPANY ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202 |
Sastre Maria | director | C/O DARDEN RESTAURANTS, INC. 1000 DARDEN CENTER DRIVE ORLANDO FL 32837 |
Sprunk Eric D | director | ONE BOWERMAN DRIVE BEAVERTON OR 97005 |
Ferguson Roger W. Jr. | director | INTERNATIONAL FLAVORS & FRAGRANCES INC. 521 WEST 57TH STREET NEW YORK NY 10019 |
Ogrady Shawn P | officer: Group President | ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426 |
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