GURUFOCUS.COM » STOCK LIST » USA » NYSE » General Mills Inc (NYSE:GIS) » Definitions » Return-on-Tangible-Asset
Switch to:

General Mills (NYSE:GIS) Return-on-Tangible-Asset

: 24.23% (As of Nov. 2023)
View and export this data going back to 1952. Start your Free Trial

Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. General Mills's annualized Net Income for the quarter that ended in Nov. 2023 was $2,382 Mil. General Mills's average total tangible assets for the quarter that ended in Nov. 2023 was $9,830 Mil. Therefore, General Mills's annualized Return-on-Tangible-Asset for the quarter that ended in Nov. 2023 was 24.23%.

The historical rank and industry rank for General Mills's Return-on-Tangible-Asset or its related term are showing as below:

GIS' s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 13.75   Med: 21.62   Max: 26.62
Current: 24.74

During the past 13 years, General Mills's highest Return-on-Tangible-Asset was 26.62%. The lowest was 13.75%. And the median was 21.62%.

GIS's Return-on-Tangible-Asset is ranked better than
97.07% of 1911 companies
in the Consumer Packaged Goods industry
Industry Median: 3.01 vs GIS: 24.74

General Mills Return-on-Tangible-Asset Historical Data

The historical data trend for General Mills's Return-on-Tangible-Asset 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
Return-on-Tangible-Asset
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.41 23.28 22.92 26.62 26.35

General Mills Quarterly Data
Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23
Return-on-Tangible-Asset 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 24.80 22.56 24.95 27.21 24.23

Competitive Comparison

For the Packaged Foods subindustry, General Mills's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where General Mills's Return-on-Tangible-Asset falls into.



General Mills Return-on-Tangible-Asset Calculation

General Mills's annualized Return-on-Tangible-Asset for the fiscal year that ended in May. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(A: May. 2023 )  (A: May. 2022 )(A: May. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(A: May. 2023 )  (A: May. 2022 )(A: May. 2023 )
=2593.9/( (9711.7+9972.9)/ 2 )
=2593.9/9842.3
=26.35 %

General Mills's annualized Return-on-Tangible-Asset for the quarter that ended in Nov. 2023 is calculated as:

Return-on-Tangible-Asset=Net Income/( (Total Tangible Assets+Total Tangible Assets)/ count )
(Q: Nov. 2023 )  (Q: Aug. 2023 )(Q: Nov. 2023 )
=Net Income/( (Total Assets - Intangible Assets+Total Assets - Intangible Assets)/ count )
(Q: Nov. 2023 )  (Q: Aug. 2023 )(Q: Nov. 2023 )
=2382/( (9832+9828.3)/ 2 )
=2382/9830.15
=24.23 %

* 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.

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Nov. 2023) net income data.


General Mills  (NYSE:GIS) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.


Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the company’s earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a company’s tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.


General Mills Return-on-Tangible-Asset Related Terms

Thank you for viewing the detailed overview of General Mills's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.


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