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General Mills (NYSE:GIS) Interest Coverage

: 8.86 (As of Nov. 2022)
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Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. General Mills's Operating Income for the three months ended in Nov. 2022 was $811 Mil. General Mills's Interest Expense for the three months ended in Nov. 2022 was $-92 Mil. General Mills's interest coverage for the quarter that ended in Nov. 2022 was 8.86. The higher the ratio, the stronger the company's financial strength is.

The historical rank and industry rank for General Mills's Interest Coverage or its related term are showing as below:

GIS' s Interest Coverage Range Over the Past 10 Years
Min: 5.35   Med: 8.24   Max: 9.09
Current: 8.32


GIS's Interest Coverage is ranked worse than
54.32% of 1318 companies
in the Consumer Packaged Goods industry
Industry Median: 9.92 vs GIS: 8.32

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.


General Mills Interest Coverage Historical Data

The historical data trend for General Mills's Interest Coverage 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
Interest Coverage
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.71 5.35 6.30 7.88 8.49

General Mills Quarterly Data
Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22
Interest Coverage 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 8.66 7.54 9.19 7.48 8.86

Competitive Comparison

For the Packaged Foods subindustry, General Mills's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's Interest Coverage distribution charts can be found below:

* The bar in red indicates where General Mills's Interest Coverage falls in comparison to its industry or sector. The grey bar indicates the Interest Coverage's extreme value range as defined by GuruFocus.



General Mills Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage=-1* Operating Income /Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt.


Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

General Mills's Interest Coverage for the fiscal year that ended in May. 2022 is calculated as

Here, for the fiscal year that ended in May. 2022, General Mills's Interest Expense was $-383 Mil. Its Operating Income was $3,255 Mil. And its Long-Term Debt & Capital Lease Obligation was $9,383 Mil.

Interest Coverage=-1* Operating Income (A: May. 2022 )/Interest Expense (A: May. 2022 )
=-1*3255.2/-383.4
=8.49

General Mills's Interest Coverage for the quarter that ended in Nov. 2022 is calculated as

Here, for the three months ended in Nov. 2022, General Mills's Interest Expense was $-92 Mil. Its Operating Income was $811 Mil. And its Long-Term Debt & Capital Lease Obligation was $8,623 Mil.

Interest Coverage=-1* Operating Income (Q: Nov. 2022 )/Interest Expense (Q: Nov. 2022 )
=-1*810.9/-91.5
=8.86

* 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.

The higher the ratio, the stronger the company's Financial Strength is.


General Mills  (NYSE:GIS) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .


General Mills Interest Coverage Related Terms

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


General Mills (NYSE:GIS) Business Description

General Mills logo
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
Thissen Karen Wilson officer: General Counsel & Secretary 1098 AMERIPRISE FINANCIAL CENTER MINNEAPOLIS MN 55474
Gallagher Paul Joseph officer: Chief Supply Chain Officer 1 GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Montemayor Jaime officer: Chief Technology Officer NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Pallot Mark A officer: Chief Accounting Officer NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Jenkins Jo Ann director 2211 SOUTH 47TH STREET PHOENIX AZ 85034
Mcnabb Dana M officer: Group President NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Lempres Elizabeth Cahill director TWO COMMERCE SQUARE 2001 MARKET STREET, SUITE 3600 PHILADELPHIA PA 19103
Walker Sean N officer: Group President NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Neal Diane L director
Benson Jodi J officer: Chief Innovation Officer GENERAL MILLS, INC. ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Sastre Maria 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
Bruce Kofi A officer: Vice President GENERAL MILLS, INC. ONE GENERAL MILLS BLVD. MINNEAPOLIS MN 55426
Pollard Ivan officer: Senior Vice President GENERAL MILLS, INC. ONE GENERAL MILLS BLVD. MINNEAPOLIS MN 55426
Law Christina officer: Group President GENERAL MILLS, INC. ONE GENERAL MILLS BLVD. MINNEAPOLIS MN 55426

General Mills (NYSE:GIS) Headlines

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