0.3(0.55%) Volume: 2,006,989 10:09PM EDT| Market Cap : 33 B | Enterprise Value : 47.35 B | P/E (TTM) : 18.85 | P/B : 4.63 |
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General Mills's gross profit for the three months ended in May. 2019 was $1,461 Mil. General Mills's gross profit for the trailing twelve months (TTM) ended in May. 2019 was $5,757 Mil.
Gross Margin % is calculated as gross profit divided by its revenue. General Mills's gross profit for the three months ended in May. 2019 was $1,461 Mil. General Mills's Revenue for the three months ended in May. 2019 was $4,162 Mil. Therefore, General Mills's Gross Margin % for the quarter that ended in May. 2019 was 35.11%.
General Mills had a gross margin of 35.11% for the quarter that ended in May. 2019 => Competition eroding margins
During the past 13 years, the highest Gross Margin % of General Mills was 40.01%. The lowest was 33.74%. And the median was 35.61%.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
| General Mills Quarterly Data | ||||||||||||||||||||
| Aug14 | Nov14 | Feb15 | May15 | Aug15 | Nov15 | Feb16 | May16 | Aug16 | Nov16 | Feb17 | May17 | Aug17 | Nov17 | Feb18 | May18 | Aug18 | Nov18 | Feb19 | May19 | |
| Gross Profit |
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1,419.60 | 1,342.80 | 1,509.70 | 1,443.00 | 1,461.30 |
* The bar in red indicates where General Mills's Gross Profit falls into.
Gross Profit is the different between the sale prices and the cost of buying or producing the goods.
General Mills's Gross Profit for the fiscal year that ended in May. 2019 is calculated as
| Gross Profit (A: May. 2019 ) | = | Revenue | - | Cost of Goods Sold |
| = | 16865.2 | - | 11108.4 | |
| = | 5,757 |
General Mills's Gross Profit for the quarter that ended in May. 2019 is calculated as
| Gross Profit (Q: May. 2019 ) | = | Revenue | - | Cost of Goods Sold |
| = | 4161.7 | - | 2700.4 | |
| = | 1,461 |
Gross Profit for the trailing twelve months (TTM) ended in May. 2019 was 1342.8 (Aug. 2018 ) + 1509.7 (Nov. 2018 ) + 1443 (Feb. 2019 ) + 1461.3 (May. 2019 ) = $5,757 Mil.
Gross Profit is the numerator in the calculation of Gross Margin:
General Mills's Gross Margin % for the quarter that ended in May. 2019 is calculated as
| Gross Margin % (Q: May. 2019 ) | = | Gross Profit (Q: May. 2019 ) | / | Revenue (Q: May. 2019 ) |
| = | (Revenue - Cost of Goods Sold) | / | Revenue | |
| = | 1,461 | / | 4161.7 | |
| = | 35.11 % |
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
General Mills had a gross margin of 35.11% for the quarter that ended in May. 2019 => Competition eroding margins
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