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General Mills EBIT

: $2,680 Mil (TTM As of Aug. 2019)
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General Mills's earnings before interest and taxes (EBIT) for the three months ended in Aug. 2019 was $693 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Aug. 2019 was $2,680 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 Aug. 2019 was 11.20%. General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2019 was 74.32%.

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 Aug. 2019 was 5.75%.


General Mills EBIT Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

General Mills Annual Data
May10 May11 May12 May13 May14 May15 May16 May17 May18 May19
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,090.50 2,715.50 2,573.40 2,521.00 2,609.40

General Mills Quarterly Data
Nov14 Feb15 May15 Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 622.40 568.00 672.70 746.30 692.60

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 Aug. 2019 was 568 (Nov. 2018 ) + 672.7 (Feb. 2019 ) + 746.3 (May. 2019 ) + 692.6 (Aug. 2019 ) = $2,680 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


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 Aug. 2019 is calculated as:

ROC %(Q: Aug. 2019 )
=NOPAT/Average Invested Capital
=Operating Income*(1-Tax Rate)/( (Invested Capital (Q: May. 2019 ) + Invested Capital (Q: Aug. 2019 ))/2)
=2682.4 * ( 1 - 11.71% )/( (21094.5 + 21185.7)/2)
=2368.29096/21140.1
=11.20 %

where

Invested Capital(Q: May. 2019 )
=Book Value of Debt + Book Value of Equity - Cash
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation + Total Stockholders Equity - Cash
=11624.8 + 2865.2 + 7054.5 - 450
=21094.5

Invested Capital(Q: Aug. 2019 )
=Book Value of Debt + Book Value of Equity - Cash
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation + Total Stockholders Equity - Cash
=11619.8 + 2687.9 + 7382.8 - 504.8
=21185.7

Note: The Operating Income data used here is four times the quarterly (Aug. 2019) operating income data.

2. Joel Greenblatt's definition of Return on Capital:

General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2019 is calculated as:

ROC (Joel Greenblatt) %(Q: Aug. 2019 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: May. 2019  Q: Aug. 2019
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/2 )
=2770.4/( ( (3787.2 + max(-777.8, 0)) + (3668.3 + max(-458.9, 0)) )/2 )
=2770.4/( ( 3787.2 + 3668.3 )/2 )
=2770.4/3727.75
=74.32 %

where Working Capital is:

Working Capital(Q: May. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1679.7 + 1559.3 + 205.1) - (3846.5 + 0 + 375.4)
=-777.8

Working Capital(Q: Aug. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1710.5 + 1700.1 + 346) - (2786.7 + 0 + 1428.8)
=-458.9

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Aug. 2019) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

General Mills's Earnings Yield (Joel Greenblatt) %for the quarter that ended in Aug. 2019 is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Aug. 2019 )
=2679.6/46616.28
=5.75 %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


General Mills EBIT Related Terms


General Mills EBIT Headlines

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