General Mills (MEX:GIS) Inventory Turnover : 1.74 (As of Aug. 2024)

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What is General Mills Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. General Mills's Cost of Goods Sold for the three months ended in Aug. 2024 was MXN62,319 Mil. General Mills's Average Total Inventories for the quarter that ended in Aug. 2024 was MXN35,819 Mil. General Mills's Inventory Turnover for the quarter that ended in Aug. 2024 was 1.74.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. General Mills's Days Inventory for the three months ended in Aug. 2024 was 52.45.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. General Mills's Inventory-to-Revenue for the quarter that ended in Aug. 2024 was 0.37.

General Mills Inventory Turnover Historical Data

The historical data trend for General Mills's Inventory Turnover 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.

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General Mills Inventory Turnover Chart

General Mills Annual Data

Trend

May15

May16

May17

May18

May19

May20

May21

May22

May23

May24

Inventory Turnover

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8.19

6.86

6.79

6.39

6.20

General Mills Quarterly Data
	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24
Inventory Turnover	Get a 7-Day Free Trial															1.39	1.56	1.68	1.62	1.74

General Mills Inventory Turnover Calculation

General Mills's Inventory Turnover for the fiscal year that ended in May. 2024 is calculated as

	Inventory Turnover (A: May. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: May. 2024 )	/ (	(Total Inventories (A: May. 2023 )	+	Total Inventories (A: May. 2024 ))	/	count )
=	219649.15	/ (	(38550.394	+	32258.011)	/	2 )
=	219649.15	/	35404.2025
=	6.20

General Mills's Inventory Turnover for the quarter that ended in Aug. 2024 is calculated as

	Inventory Turnover (Q: Aug. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: Aug. 2024 )	/ (	(Total Inventories (Q: May. 2024 )	+	Total Inventories (Q: Aug. 2024 ))	/	count )
=	62318.8	/ (	(32258.011	+	39380.006)	/	2 )
=	62318.8	/	35819.0085
=	1.74

General Mills (MEX:GIS) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

General Mills's Days Inventory for the three months ended in Aug. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Aug. 2024 )	/	Cost of Goods Sold (Q: Aug. 2024 )	*	Days in Period
	=	35819.0085	/	62318.8	*	365 / 4
	=	52.45

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

General Mills's Inventory to Revenue for the quarter that ended in Aug. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Aug. 2024 )	/	Revenue (Q: Aug. 2024 )
	=	35819.0085	/	95631.24
	=	0.37

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

General Mills Inventory Turnover Related Terms

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General Mills Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

GIS:USA 0R1X:UK GRM:Germany GRM:Germany GRM:Germany G1MI34:Brazil

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, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In fiscal 2024, 81% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. Although 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.