General Mills Asset Turnover

: 0.14 (As of Feb. 2022)

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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. 2022 was $4,538 Mil. General Mills's Total Assets for the quarter that ended in Feb. 2022 was $31,813 Mil. Therefore, General Mills's Asset Turnover for the quarter that ended in Feb. 2022 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. 2022 was 27.32%. It is also linked to ROA % through Du Pont Formula. General Mills's annualized ROA % for the quarter that ended in Feb. 2022 was 8.30%.

General Mills Asset Turnover Historical Data

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.

* Premium members only.

General Mills Annual Data

Trend

May12

May13

May14

May15

May16

May17

May18

May19

May20

May21

Asset Turnover

0.72

0.60

0.56

0.58

General Mills Quarterly Data
	May17	Aug17	Nov17	Feb18	May18	Aug18	Nov18	Feb19	May19	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22
Asset Turnover																0.14	0.14	0.14	0.16	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. 2021 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: May. 2021 )	/	( (Total Assets (A: May. 2020 )	+	Total Assets (A: May. 2021 ))	/ count )
=	18127	/	( (30806.7	+	31841.9)	/ 2 )
=	18127	/	31324.3
=	0.58

General Mills's Asset Turnover for the quarter that ended in Feb. 2022 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Feb. 2022 )	/	( (Total Assets (Q: Nov. 2021 )	+	Total Assets (Q: Feb. 2022 ))	/ count )
=	4537.7	/	( (32481.6	+	31143.8)	/ 2 )
=	4537.7	/	31812.7
=	0.14

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. 2022 is

	ROE %^**		(Q: Feb. 2022 )
=	Net Income	/	Total Stockholders Equity
=	2641.2	/	9668.7
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(2641.2 / 18150.8)	*	(18150.8 / 31812.7)	*	(31812.7/ 9668.7)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	14.55 %	*	0.5706	*	3.2903
=	ROA %	*	Equity Multiplier
=	8.30 %	*	3.2903
=	27.32 %

Note: The Net Income data used here is four times the quarterly (Feb. 2022) net income data. The Revenue data used here is four times the quarterly (Feb. 2022) revenue data.

^** 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. 2022 is

	ROA %		(Q: Feb. 2022 )
=	Net Income	/	Total Assets
=	2641.2	/	31812.7
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(2641.2 / 18150.8)	*	(18150.8 / 31812.7)
=	Net Margin %	*	Asset Turnover
=	14.55 %	*	0.5706
=	8.30 %

Note: The Net Income data used here is four times the quarterly (Feb. 2022) net income data. The Revenue data used here is four times the quarterly (Feb. 2022) revenue data.

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

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General Mills Business Description

Industry

Consumer Defensive » Consumer Packaged Goods NAICS : 311412 SIC : 5411

Comparable Companies

NAS:KHC NYSE:HRL NYSE:K NYSE:MKC NYSE:CAG NYSE:CPB NYSE:SJM NYSE:LW NYSE:DAR NAS:PPC XSWX:NESN SHSE:603288 SZSE:300999 SHSE:600887 XPAR:BN NSE:NESTLEIND HKSE:02319 DUB:KRZ LSE:ABF SZSE:000895

Traded in Other Exchanges

GIS:Mexico 0R1X:UK GRM:Germany GRM:Germany GRM:Germany GIS:Switzerland G1MI34:Brazil GIS:Austria

Address

Number One General Mills Boulevard, Minneapolis, MN, USA, 55426

Website

https://www.generalmills.com

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.

Executives

Walker Sean N	officer: Group President	NUMBER ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Church John R	officer: Chief SC & GBS Officer	ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Nudi Jonathon	officer: Group President	GENERAL MILLS, INC. ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426
Henry Maria	director	C/O THE HILLSHIRE BRANDS COMPANY 3500 LACEY ROAD DOWNERS GROVE IL 60515
Neal Diane L	director	PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: NEAL DIANE L a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Jenkins Jo Ann	director	2211 SOUTH 47TH STREET PHOENIX AZ 85034
Lempres Elizabeth Cahill	director	TWO COMMERCE SQUARE 2001 MARKET STREET, SUITE 3600 PHILADELPHIA PA 19103
Uribe Jorge A.	director	5 WESTBROOK CORPORATE CENTER WESTCHESTER IL 60154
Cordani David	director	CIGNA CORPORATION 900 COTTAGE GROVE ROAD BLOOMFIELD CT 06002
Odland Stephen A	director	ONE GENERAL MILLS BLVD M03-08 MINNEAPOLIS MN 55426
Clark R Kerry	director	C/O THE PROCTER & GAMBLE COMPANY ONE PROCTER & GAMBLE PLAZA CINCINNATI OH 45202
Sastre Maria	director	C/O DARDEN RESTAURANTS, INC. 1000 DARDEN CENTER DRIVE ORLANDO FL 32837
Sprunk Eric D	director	ONE BOWERMAN DRIVE BEAVERTON OR 97005
Ferguson Roger W. Jr.	director	INTERNATIONAL FLAVORS & FRAGRANCES INC. 521 WEST 57TH STREET NEW YORK NY 10019
Ogrady Shawn P	officer: Group President	ONE GENERAL MILLS BLVD MINNEAPOLIS MN 55426

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General Mills Asset Turnover

General Mills Asset Turnover Historical Data

General Mills Asset Turnover Calculation

General Mills Asset Turnover Related Terms

General Mills Business Description

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