Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
General Mills's Sloan Ratio for the quarter that ended in Feb. 2022 was 3.02%.
As of Feb. 2022, General Mills has a Sloan Ratio of 3.02%, indicating the company is in the safe zone and there is no funny business with accruals.
General Mills Sloan Ratio % Historical Data
The historical data trend for General Mills's Sloan Ratio % 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
Sloan Ratio %
-0.51
26.04
-1.65
-3.27
-0.41
General Mills Quarterly Data
May17
Aug17
Nov17
Feb18
May18
Aug18
Nov18
Feb19
May19
Aug19
Nov19
Feb20
May20
Aug20
Nov20
Feb21
May21
Aug21
Nov21
Feb22
Sloan Ratio %
-2.03
-0.41
3.85
2.71
3.02
Competitive Comparison
For the Packaged Foods subindustry, General Mills's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % 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 Sloan Ratio % Distribution
For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where General Mills's Sloan Ratio % falls into.
General Mills Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
General Mills's Sloan Ratio for the fiscal year that ended in May. 2021 is calculated as
General Mills's Net Income for the trailing twelve months (TTM) ended in Feb. 2022 was 416.8 (May. 2021 ) + 627 (Aug. 2021 ) + 597.2 (Nov. 2021 ) + 660.3 (Feb. 2022 ) = $2,301 Mil.
General Mills's Cash Flow from Operations for the trailing twelve months (TTM) ended in Feb. 2022 was 775.3 (May. 2021 ) + 369.8 (Aug. 2021 ) + 1128 (Nov. 2021 ) + 730.3 (Feb. 2022 ) = $3,003 Mil.
General Mills's Cash Flow from Investing for the trailing twelve months (TTM) ended in Feb. 2022 was -180.8 (May. 2021 ) + -1297.9 (Aug. 2021 ) + -98.1 (Nov. 2021 ) + -65.8 (Feb. 2022 ) = $-1,643 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 (NYSE:GIS) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Feb. 2022, General Mills has a Sloan Ratio of 3.02%, indicating the company is in the safe zone and there is no funny business with accruals.
General Mills Sloan Ratio % Related Terms
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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.
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