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

: Negative Tangible Equity% (As of Aug. 2023)

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Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. General Mills's annualized net income for the quarter that ended in Aug. 2023 was $2,694 Mil. General Mills's average shareholder tangible equity for the quarter that ended in Aug. 2023 was $-11,127 Mil. Therefore, General Mills's annualized Return-on-Tangible-Equity for the quarter that ended in Aug. 2023 was Negative Tangible Equity%.

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

GIS' s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 0 Med: 0 Max: 0
Current: Negative Tangible Equity

GIS's Return-on-Tangible-Equity is ranked better than
99.94% of 1779 companies
in the Consumer Packaged Goods industry
Industry Median: 7.27 vs GIS: Negative Tangible Equity

General Mills Return-on-Tangible-Equity Historical Data

The historical data trend for General Mills's Return-on-Tangible-Equity 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-Equity

Negative Tangible Equity

General Mills Quarterly Data
	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23
Return-on-Tangible-Equity																Negative Tangible Equity	Negative Tangible Equity	Negative Tangible Equity	Negative Tangible Equity	Negative Tangible Equity

Competitive Comparison

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

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

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

General Mills Return-on-Tangible-Equity Calculation

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

Return-on-Tangible-Equity	=	Net Income	/	( (Total Tangible Equity	+	Total Tangible Equity)	/ count )
		(A: May. 2023 )		(A: May. 2022 )		(A: May. 2023 )
	=	Net Income	/	( (Total Stockholders Equity - Intangible Assets	+	Total Stockholders Equity - Intangible Assets )	/ count )
		(A: May. 2023 )		(A: May. 2022 )		(A: May. 2023 )
	=	2593.9	/	( (-10836	+	-11029.2 )	/ 2 )
	=	2593.9	/	-10932.6
	=	Negative Tangible Equity %

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

Return-on-Tangible-Equity	=	Net Income	/	( (Total Tangible Equity	+	Total Tangible Equity)	/ count )
		(Q: Aug. 2023 )		(Q: May. 2023 )		(Q: Aug. 2023 )
	=	Net Income	/	( (Total Stockholders Equity - Intangible Assets	+	Total Stockholders Equity - Intangible Assets)	/ count )
		(Q: Aug. 2023 )		(Q: May. 2023 )		(Q: Aug. 2023 )
	=	2694	/	( (-11029.2	+	-11225.3)	/ 2 )
	=	2694	/	-11127.25
	=	Negative Tangible Equity %

In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Aug. 2023) net income data. Return-on-Tangible-Equity is displayed in the 10-year financial page.

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

Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.

Be Aware

Net Income is used.

Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.

General Mills Return-on-Tangible-Equity Related Terms

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General Mills (NYSE:GIS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » General Mills Inc (NYSE:GIS) » Definitions » Return-on-Tangible-Equity

Comparable Companies

Traded in Other Exchanges

GIS:Mexico GRM:Germany GRM:Germany GRM:Germany G1MI34:Brazil GIS:Austria

Address

Number One General Mills Boulevard, Minneapolis, MN, USA, 55426

Website

https://www.generalmills.com

General Mills is a global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and super-premium 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 into the foodservice channel and the commercial baking industry.

Executives

Werner Lanette Shaffer	officer: Chief Innovation Officer	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
Paul Joseph Gallagher	officer: Chief Supply Chain Officer	1 GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jaime Montemayor	officer: Chief Technology Officer	NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Mark A Pallot	officer: Chief Accounting Officer	NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Jo Ann Jenkins	director	2211 SOUTH 47TH STREET, PHOENIX AZ 85034
Dana M Mcnabb	officer: Group President	NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Elizabeth Cahill Lempres	director	TWO COMMERCE SQUARE, 2001 MARKET STREET, SUITE 3600, PHILADELPHIA PA 19103
Sean N Walker	officer: Group President	NUMBER ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Diane L Neal	director
Jodi J Benson	officer: Chief Innovation Officer	GENERAL MILLS, INC., ONE GENERAL MILLS BLVD, MINNEAPOLIS MN 55426
Maria Sastre	director	C/O DARDEN RESTAURANTS, INC., 1000 DARDEN CENTER DRIVE, ORLANDO FL 32837
Bishop William W Jr	officer: Group President	C/O BLUE BUFFALO PET PRODUCTS, INC., 11 RIVER ROAD, WILTON CT 06897
Kofi A Bruce	officer: Vice President	GENERAL MILLS, INC., ONE GENERAL MILLS BLVD., MINNEAPOLIS MN 55426