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General Mills (NYSE:GIS) ROCE %

: 15.73% (As of Nov. 2023)
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ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. General Mills's annualized ROCE % for the quarter that ended in Nov. 2023 was 15.73%.


General Mills ROCE % Historical Data

The historical data trend for General Mills's ROCE % 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 May14 May15 May16 May17 May18 May19 May20 May21 May22 May23
ROCE %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 11.27 13.26 14.01 15.41 15.05

General Mills Quarterly Data
Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23
ROCE % 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 14.54 13.08 23.66 15.47 15.73

General Mills ROCE % Calculation

General Mills's annualized ROCE % for the fiscal year that ended in May. 2023 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: May. 2023 )  (A: May. 2022 )(A: May. 2023 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: May. 2023 )  (A: May. 2022 )(A: May. 2023 )
=3536.6/( ( (31090.1 - 8019.9) + (31451.7 - 7535.7) )/ 2 )
=3536.6/( (23070.2+23916)/ 2 )
=3536.6/23493.1
=15.05 %

General Mills's ROCE % of for the quarter that ended in Nov. 2023 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Nov. 2023 )  (Q: Aug. 2023 )(Q: Nov. 2023 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Nov. 2023 )  (Q: Aug. 2023 )(Q: Nov. 2023 )
=3741.6/( ( (31319.7 - 7067.8) + (31233.4 - 7902.2) )/ 2 )
=3741.6/( ( 24251.9 + 23331.2 )/ 2 )
=3741.6/23791.55
=15.73 %

(1) Note: The EBIT data used here is four times the quarterly (Nov. 2023) EBIT data.

* 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.


General Mills  (NYSE:GIS) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.


General Mills ROCE % Related Terms

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General Mills (NYSE:GIS) Business Description

Address
Number One General Mills Boulevard, Minneapolis, MN, USA, 55426
General Mills is a 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 Buffalo, and Haagen-Dazs. In fiscal 2023, 81% 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 to the foodservice channel and the commercial baking industry.
Executives
Werner Lanette Shaffer officer: Chief Innovation Officer ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426
David Cordani director THE CIGNA GROUP, 900 COTTAGE GROVE ROAD, BLOOMFIELD CT 06002
Mark A Pallot officer: Chief Accounting Officer NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jodi J Benson officer: Chief Innovation Officer GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jacqueline Williams-roll officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Bethany C. Quam officer: Group President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426
Jonathon Nudi officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Sean N Walker officer: Group President NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Shawn P Ogrady officer: SVP, Pres, Consumer Food Sales ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jeffrey L Harmening officer: Executive Vice President ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Dana M Mcnabb officer: Group President NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
C Kim Goodwin director C/O AKAMAI TECHNOLOGIES, INC., 8 CAMBRIDGE CENTER, CAMBRIDGE MA 02142
Karen Wilson Thissen officer: General Counsel & Secretary 1098 AMERIPRISE FINANCIAL CENTER, MINNEAPOLIS MN 55474
John R Church officer: SVP, Supply Chain ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Richard C Allendorf officer: Senior Vice President GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426