Market Cap : 45.92 B | Enterprise Value : 57.02 B | PE Ratio : 16.26 | PB Ratio : 4.54 |
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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. General Mills's Revenue for the three months ended in Nov. 2022 was $5,221 Mil. General Mills's Total Assets for the quarter that ended in Nov. 2022 was $31,214 Mil. Therefore, General Mills's Asset Turnover for the quarter that ended in Nov. 2022 was 0.17.
Asset Turnover is linked to ROE % through Du Pont Formula. General Mills's annualized ROE % for the quarter that ended in Nov. 2022 was 23.42%. It is also linked to ROA % through Du Pont Formula. General Mills's annualized ROA % for the quarter that ended in Nov. 2022 was 7.76%.
The historical data trend for General Mills's Asset 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.
For the Packaged Foods subindustry, General Mills's Asset Turnover, along with its competitors' market caps and Asset Turnover 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.
For the Consumer Packaged Goods industry and Consumer Defensive sector, General Mills's Asset Turnover distribution charts can be found below:
* The bar in red indicates where General Mills's Asset Turnover falls in comparison to its industry or sector. The grey bar indicates the Asset Turnover's extreme value range as defined by GuruFocus.
Asset Turnover measures how quickly a company turns over its asset through sales.
General Mills's Asset Turnover for the fiscal year that ended in May. 2022 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (A: May. 2022 ) | / | ( (Total Assets (A: May. 2021 ) | + | Total Assets (A: May. 2022 )) | / count ) |
= | 18992.8 | / | ( (31841.9 | + | 31090.1) | / 2 ) |
= | 18992.8 | / | 31466 | |||
= | 0.60 |
General Mills's Asset Turnover for the quarter that ended in Nov. 2022 is calculated as
Asset Turnover | ||||||
= | Revenue | / | Average Total Assets | |||
= | Revenue (Q: Nov. 2022 ) | / | ( (Total Assets (Q: Aug. 2022 ) | + | Total Assets (Q: Nov. 2022 )) | / count ) |
= | 5220.7 | / | ( (31107.2 | + | 31319.8) | / 2 ) |
= | 5220.7 | / | 31213.5 | |||
= | 0.17 |
* 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.
Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.
Asset Turnover is linked to ROE % through Du Pont Formula.
General Mills's annulized ROE % for the quarter that ended in Nov. 2022 is
ROE %** | (Q: Nov. 2022 ) | ||||
= | Net Income | / | Total Stockholders Equity | ||
= | 2423.6 | / | 10348 | ||
= | (Net Income / Revenue) | * | (Revenue / Total Assets) | * | (Total Assets / Total Stockholders Equity) |
= | (2423.6 / 20882.8) | * | (20882.8 / 31213.5) | * | (31213.5/ 10348) |
= | Net Margin % | * | Asset Turnover | * | Equity Multiplier |
= | 11.61 % | * | 0.669 | * | 3.0164 |
= | ROA % | * | Equity Multiplier | ||
= | 7.76 % | * | 3.0164 | ||
= | 23.42 % |
Note: The Net Income data used here is four times the quarterly (Nov. 2022) net income data. The Revenue data used here is four times the quarterly (Nov. 2022) revenue data.
* 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 ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.
It is also linked to ROA % through Du Pont Formula:
General Mills's annulized ROA % for the quarter that ended in Nov. 2022 is
ROA % | (Q: Nov. 2022 ) | ||
= | Net Income | / | Total Assets |
= | 2423.6 | / | 31213.5 |
= | (Net Income / Revenue) | * | (Revenue / Total Assets) |
= | (2423.6 / 20882.8) | * | (20882.8 / 31213.5) |
= | Net Margin % | * | Asset Turnover |
= | 11.61 % | * | 0.669 |
= | 7.76 % |
Note: The Net Income data used here is four times the quarterly (Nov. 2022) net income data. The Revenue data used here is four times the quarterly (Nov. 2022) revenue data.
* 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.
In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.
Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.
Thank you for viewing the detailed overview of General Mills's Asset Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.
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 |
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