General Mills (WBO:GIS) ROCE % : 13.50% (As of Aug. 2024)

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What is General Mills ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. General Mills's annualized ROCE % for the quarter that ended in Aug. 2024 was 13.50%.

General Mills ROCE % Historical Data

The historical data trend for General Mills's ROCE % 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 ROCE % Chart

General Mills Annual Data

Trend

May15

May16

May17

May18

May19

May20

May21

May22

May23

May24

ROCE %

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13.43

13.26

16.49

14.85

14.62

General Mills Quarterly Data
	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24
ROCE %	Get a 7-Day Free Trial															15.44	15.79	15.58	12.31	13.50

General Mills ROCE % Calculation

General Mills's annualized ROCE % for the fiscal year that ended in May. 2024 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: May. 2024 )		(A: May. 2023 )		(A: May. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: May. 2024 )		(A: May. 2023 )		(A: May. 2024 )
	=	3261.827	/	( ( (28935.564 - 6932.844)	+	(29109.657 - 6505.617) )	/ 2 )
	=	3261.827	/	( (22002.72	+	22604.04)	/ 2 )
	=	3261.827	/	22303.38
	=	14.62 %

General Mills's ROCE % of for the quarter that ended in Aug. 2024 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Aug. 2024 )		(Q: May. 2024 )		(Q: Aug. 2024 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Aug. 2024 )		(Q: May. 2024 )		(Q: Aug. 2024 )
	=	3024.664	/	( ( (29109.657 - 6505.617)	+	(28814.664 - 6611.486) )	/ 2 )
	=	3024.664	/	( ( 22604.04	+	22203.178 )	/ 2 )
	=	3024.664	/	22403.609
	=	13.50 %

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

General Mills (WBO:GIS) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

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General Mills Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » General Mills Inc (WBO:GIS) » Definitions » ROCE %

Comparable Companies

Traded in Other Exchanges

GIS:USA GIS:Mexico 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.