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General Mills Piotroski F-Score

: 5 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

General Mills has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for General Mills's Piotroski F-Score or its related term are showing as below:

GIS' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 6   Max: 8
Current: 5

During the past 13 years, the highest Piotroski F-Score of General Mills was 8. The lowest was 1. And the median was 6.


General Mills Piotroski F-Score Historical Data

The historical data trend for General Mills's Piotroski F-Score 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 May12 May13 May14 May15 May16 May17 May18 May19 May20 May21
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 5.00 8.00 8.00

General Mills Quarterly Data
May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22
Piotroski F-Score 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 8.00 8.00 7.00 6.00 5.00

Competitive Comparison

For the Packaged Foods subindustry, General Mills's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where General Mills's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Feb22) TTM:Last Year (Feb21) TTM:
Net Income was 416.8 + 627 + 597.2 + 660.3 = $2,301 Mil.
Cash Flow from Operations was 775.3 + 369.8 + 1128 + 730.3 = $3,003 Mil.
Revenue was 4523.6 + 4539.9 + 5024 + 4537.7 = $18,625 Mil.
Gross Profit was 1582.9 + 1597.4 + 1631.2 + 1403.7 = $6,215 Mil.
Average Total Assets from the begining of this year (Feb21)
to the end of this year (Feb22) was
(32648.8 + 31841.9 + 32332.2 + 32481.6 + 31143.8) / 5 = $32089.66 Mil.
Total Assets at the begining of this year (Feb21) was $32,649 Mil.
Long-Term Debt & Capital Lease Obligation was $10,945 Mil.
Total Current Assets was $5,029 Mil.
Total Current Liabilities was $6,839 Mil.
Net Income was 625.7 + 638.9 + 688.4 + 595.7 = $2,549 Mil.

Revenue was 5023 + 4364 + 4719.4 + 4520 = $18,626 Mil.
Gross Profit was 1768.1 + 1590.4 + 1721.1 + 1553.9 = $6,634 Mil.
Average Total Assets from the begining of last year (Feb20)
to the end of last year (Feb21) was
(30248.7 + 30806.7 + 31262.2 + 32307.6 + 32648.8) / 5 = $31454.8 Mil.
Total Assets at the begining of last year (Feb20) was $30,249 Mil.
Long-Term Debt & Capital Lease Obligation was $9,767 Mil.
Total Current Assets was $6,612 Mil.
Total Current Liabilities was $9,590 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

General Mills's current Net Income (TTM) was 2,301. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

General Mills's current Cash Flow from Operations (TTM) was 3,003. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Feb21)
=2301.3/32648.8
=0.07048651

ROA (Last Year)=Net Income/Total Assets (Feb20)
=2548.7/30248.7
=0.08425817

General Mills's return on assets of this year was 0.07048651. General Mills's return on assets of last year was 0.08425817. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

General Mills's current Net Income (TTM) was 2,301. General Mills's current Cash Flow from Operations (TTM) was 3,003. ==> 3,003 > 2,301 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Feb22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Feb21 to Feb22
=10944.7/32089.66
=0.34106625

Gearing (Last Year: Feb21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Feb20 to Feb21
=9766.6/31454.8
=0.31049633

General Mills's gearing of this year was 0.34106625. General Mills's gearing of last year was 0.31049633. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Feb22)=Total Current Assets/Total Current Liabilities
=5028.6/6839
=0.73528294

Current Ratio (Last Year: Feb21)=Total Current Assets/Total Current Liabilities
=6612.4/9589.7
=0.68953148

General Mills's current ratio of this year was 0.73528294. General Mills's current ratio of last year was 0.68953148. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

General Mills's number of shares in issue this year was 612.4. General Mills's number of shares in issue last year was 619.4. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=6215.2/18625.2
=0.33369843

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=6633.5/18626.4
=0.3561343

General Mills's gross margin of this year was 0.33369843. General Mills's gross margin of last year was 0.3561343. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Feb21)
=18625.2/32648.8
=0.5704712

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Feb20)
=18626.4/30248.7
=0.61577522

General Mills's asset turnover of this year was 0.5704712. General Mills's asset turnover of last year was 0.61577522. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+0+1+1+0+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

General Mills has an F-score of 5 indicating the company's financial situation is typical for a stable company.

General Mills  (NYSE:GIS) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


General Mills Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of General Mills's Piotroski F-Score 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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