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General Mills ROC (Joel Greenblatt) %

: 115.00% (As of May. 2022)
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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2022 was 115.00%.

The historical rank and industry rank for General Mills's ROC (Joel Greenblatt) % or its related term are showing as below:

GIS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 52.24   Med: 71.43   Max: 93.53
Current: 93.53

During the past 13 years, General Mills's highest ROC (Joel Greenblatt) % was 93.53%. The lowest was 52.24%. And the median was 71.43%.

GIS's ROC (Joel Greenblatt) % is ranked better than
95.54% of 1816 companies
in the Consumer Packaged Goods industry
Industry Median: 10.80 vs GIS: 93.53

General Mills's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 6.20% per year.


General Mills ROC (Joel Greenblatt) % Historical Data

The historical data trend for General Mills's ROC (Joel Greenblatt) % 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 May13 May14 May15 May16 May17 May18 May19 May20 May21 May22
ROC (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 65.19 66.61 79.47 82.84 88.23

General Mills Quarterly Data
Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22
ROC (Joel Greenblatt) % 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 72.23 90.46 95.31 79.31 115.00

Competitive Comparison

For the Packaged Foods subindustry, General Mills's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

General Mills ROC (Joel Greenblatt) % Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where General Mills's ROC (Joel Greenblatt) % falls into.



General Mills ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

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

Working Capital(Q: May. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1692.1 + 1867.3 + 961) - (3982.3 + 0 + 1552)
=-1013.9

When net working capital is negative, 0 is used.

So ROC (Joel Greenblatt) % of General Mills for the quarter that ended in May. 2022 can be restated as:

ROC (Joel Greenblatt) %(Q: May. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Feb. 2022  Q: May. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3842/( ( (3287.9 + max(-1329.8, 0)) + (3393.8 + max(-1013.9, 0)) )/ 2 )
=3842/( ( 3287.9 + 3393.8 )/ 2 )
=3842/3340.85
=115.00 %

Note: The EBIT data used here is four times the quarterly (May. 2022) 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) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


General Mills ROC (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of General Mills's ROC (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


General Mills Business Description

General Mills logo
Industry
Address
Number One General Mills Boulevard, Minneapolis, MN, USA, 55426
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

General Mills Headlines

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