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General Mills (WBO:GIS) EBIT : €3,811 Mil (TTM As of Feb. 2024)


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What is General Mills EBIT?

General Mills's earnings before interest and taxes (EBIT) for the three months ended in Feb. 2024 was €850 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2024 was €3,811 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. General Mills's annualized ROC % for the quarter that ended in Feb. 2024 was 9.99%. General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 101.40%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. General Mills's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 7.89%.


General Mills EBIT Historical Data

The historical data trend for General Mills's EBIT 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 EBIT Chart

General Mills Annual Data
Trend May14 May15 May16 May17 May18 May19 May20 May21 May22 May23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,332.80 2,817.67 2,703.64 3,398.98 3,253.67

General Mills Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
EBIT Get a 7-Day Free Trial 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 670.52 1,243.38 853.91 864.31 849.60

Competitive Comparison of General Mills's EBIT

For the Packaged Foods subindustry, General Mills's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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's EV-to-EBIT Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where General Mills's EV-to-EBIT falls into.



General Mills EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Feb. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €3,811 Mil.

* 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  (WBO:GIS) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

General Mills's annualized ROC % for the quarter that ended in Feb. 2024 is calculated as:

ROC % (Q: Feb. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Nov. 2023 ) + Invested Capital (Q: Feb. 2024 ))/ count )
=3398.38 * ( 1 - 18.49% )/( (27965.415 + 27489.629)/ 2 )
=2770.019538/27727.522
=9.99 %

where

Invested Capital(Q: Nov. 2023 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=28859.662 - 3533.746 - ( 548.671 - max(0, 7301.633 - 4662.134+548.671))
=27965.415

Invested Capital(Q: Feb. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=28607.683 - 3349.714 - ( 545.632 - max(0, 6546.381 - 4314.721+545.632))
=27489.629

Note: The Operating Income data used here is four times the quarterly (Feb. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

General Mills's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Nov. 2023  Q: Feb. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=3398.38/( ( (3325.384 + max(-1229.105, 0)) + (3377.617 + max(-1387.812, 0)) )/ 2 )
=3398.38/( ( 3325.384 + 3377.617 )/ 2 )
=3398.38/3351.5005
=101.40 %

where Working Capital is:

Working Capital(Q: Nov. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1625.131 + 2001.384 + 486.948) - (3533.746 + 0 + 1808.822)
=-1229.105

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1641.81 + 1694.556 + 432.723) - (3349.714 + 0 + 1807.187)
=-1387.812

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Feb. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

General Mills's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Feb. 2024 )
=3811.195/48292.574
=7.89 %

* 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 EBIT Related Terms

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General Mills (WBO:GIS) Business Description

Traded in Other Exchanges
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.