General Mills EBIT

: $2,971 Mil (TTM As of Feb. 2022)

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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%.

General Mills EBIT Historical Data

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.

* Premium members only.

General Mills Annual Data

Trend

May12

May13

May14

May15

May16

May17

May18

May19

May20

May21

EBIT

2,573.40

2,521.00

2,609.40

3,072.70

3,285.10

General Mills Quarterly Data
	May17	Aug17	Nov17	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22
EBIT																837.60	676.30	840.00	802.40	652.30

General Mills EBIT Calculation

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.

General Mills (NYSE:GIS) EBIT Explanation

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 %

General Mills EBIT Related Terms

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General Mills Business Description

Industry

Consumer Defensive » Consumer Packaged Goods NAICS : 311412 SIC : 5411

Comparable Companies

NAS:KHC NYSE:HRL NYSE:MKC NYSE:K NYSE:CAG NYSE:CPB NYSE:SJM NYSE:DAR NYSE:LW NAS:PPC XSWX:NESN SHSE:603288 XPAR:BN SHSE:600887 SZSE:300999 NSE:NESTLEIND HKSE:02319 DUB:KRZ BSP:JBSS3 LSE:ABF

Traded in Other Exchanges

GIS:Mexico 0R1X:UK GRM:Germany GRM:Germany GRM:Germany GIS:Switzerland G1MI34:Brazil GIS:Austria

Address

Number One General Mills Boulevard, Minneapolis, MN, USA, 55426

Website

https://www.generalmills.com

General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, BLUE, and Haagen-Dazs. In fiscal 2021, 75% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. While most of General Mills' products are sold through retail stores to consumers, the company also sells products into the food-service channel and the commercial baking industry.

Executives

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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General Mills EBIT

General Mills EBIT Historical Data

General Mills EBIT Calculation

General Mills EBIT Related Terms

General Mills Business Description

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