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General Mills Asset Turnover

: 0.14 (As of Feb. 2021)
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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 Feb. 2021 was $4,520 Mil. General Mills's Total Assets for the quarter that ended in Feb. 2021 was $32,478 Mil. Therefore, General Mills's Asset Turnover for the quarter that ended in Feb. 2021 was 0.14.

Asset Turnover is linked to ROE % through Du Pont Formula. General Mills's annualized ROE % for the quarter that ended in Feb. 2021 was 27.33%. It is also linked to ROA % through Du Pont Formula. General Mills's annualized ROA % for the quarter that ended in Feb. 2021 was 7.34%.


General Mills Asset Turnover Historical 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.

* Premium members only.

General Mills Annual Data
Trend May11 May12 May13 May14 May15 May16 May17 May18 May19 May20
Asset Turnover
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.76 0.72 0.60 0.56 0.58

General Mills Quarterly Data
May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21
Asset Turnover 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 0.14 0.17 0.14 0.15 0.14

General Mills Asset Turnover Calculation

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. 2020 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (A: May. 2020 )/( (Total Assets (A: May. 2019 )+Total Assets (A: May. 2020 ))/ count )
=17626.6/( (30111.2+30806.7)/ 2 )
=17626.6/30458.95
=0.58

General Mills's Asset Turnover for the quarter that ended in Feb. 2021 is calculated as

Asset Turnover
=Revenue/Average Total Assets
=Revenue (Q: Feb. 2021 )/( (Total Assets (Q: Nov. 2020 )+Total Assets (Q: Feb. 2021 ))/ count )
=4520/( (32307.6+32648.8)/ 2 )
=4520/32478.2
=0.14

* 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.


General Mills  (NYSE:GIS) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

General Mills's annulized ROE % for the quarter that ended in Feb. 2021 is

ROE %**(Q: Feb. 2021 )
=Net Income/Total Stockholders Equity
=2382.8/8720.15
=(Net Income / Revenue)*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(2382.8 / 18080)*(18080 / 32478.2)*(32478.2/ 8720.15)
=Net Margin %*Asset Turnover*Equity Multiplier
=13.18 %*0.5567*3.7245
=ROA %*Equity Multiplier
=7.34 %*3.7245
=27.33 %

Note: The Net Income data used here is four times the quarterly (Feb. 2021) net income data. The Revenue data used here is four times the quarterly (Feb. 2021) 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 Feb. 2021 is

ROA %(Q: Feb. 2021 )
=Net Income/Total Assets
=2382.8/32478.2
=(Net Income / Revenue)*(Revenue / Total Assets)
=(2382.8 / 18080)*(18080 / 32478.2)
=Net Margin %*Asset Turnover
=13.18 %*0.5567
=7.34 %

Note: The Net Income data used here is four times the quarterly (Feb. 2021) net income data. The Revenue data used here is four times the quarterly (Feb. 2021) 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.


Be Aware

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.


General Mills Asset Turnover Related Terms


General Mills Asset Turnover Headlines

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