General Mills (GIS) AI Stock Analysis

• Market Cap: $20.01B
• Dividend Yield: 5.19%
• Average Volume (3M): 7.94M
• Price to Earnings (P/E): 20.3
• Beta (1Y): -0.06
• Revenue Growth: -5.65%
• EPS Growth: 0.41%
• Country: US
• Employees: 34,000
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.64
• Shares Outstanding: 533,681,200
• 10 Day Avg. Volume: 9,284,067
• 30 Day Avg. Volume: 7,939,515
• PEG Ratio: -2.54
• Price to Book (P/B): 3.22
• Price to Sales (P/S): 1.52
• P/FCF Ratio: 12.91
• Enterprise Value/Market Cap: 1.66
• Enterprise Value/Revenue: 1.81
• Enterprise Value/Gross Profit: 5.48
• Enterprise Value/Ebitda: 10.88
• 1Y Price Target: $41.20
• Price Target Upside: 9.87% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 16
• EPS Forecast (FY): 3.45
• Revenue Forecast (FY): $18.42B

• Rating: 60 Neutral
• Price Target: $39.00 ▲(4.00% Upside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is held back primarily by weakening recent financial performance (revenue and margin compression, softer FCF) and a clearly bearish technical setup. Offsetting factors include a supportive dividend yield and a largely constructive earnings narrative with reaffirmed guidance and plans for margin recovery, though near-term variability remains.

Positive Factors

Stable cash generation

Multi-billion annual operating cash flow and ~$1.65B FCF provide durable internal funding for dividends, portfolio reshaping, and productivity programs. This cash generation reduces reliance on external financing and supports capital allocation even if near-term margins remain pressured.

Diversified branded portfolio & channels

A broad, essential-food portfolio sold across multiple retail and foodservice channels smooths demand cyclicality, supports cross-category innovation, and preserves shelf presence. This structural diversification underpins resilient household penetration and long-term revenue stability.

Strategic traction: Remarkability and innovation

Visible results from the Remarkability program and a strong innovation pipeline (high-growth new SKUs, scaling protein and fresh pet formats) create sustainable organic growth levers. Successful launches and distribution gains can lift household penetration and margins over multiple years.

Negative Factors

Top-line and margin deterioration

Falling revenues and materially compressed gross margins signal weaker pricing power or higher cost absorption. Persistently lower margins constrain operating leverage, reduce incremental profitability on sales, and make it harder to fund transformation without structural cost or price changes.

Elevated leverage reduces flexibility

Debt-to-equity near 1.5x limits balance sheet flexibility to absorb shocks or fund growth initiatives. With FCF momentum softened, higher leverage raises refinancing and interest risks, constraining strategic options and magnifying the impact of any further profit setbacks.

Execution risk & reliance on mechanical tailwinds

Dependence on inventory timing and mechanical tailwinds, plus supply-chain and shipment execution issues, makes revenue and margin recovery lumpy. Structural execution weaknesses can delay sustained organic growth and complicate hitting multi-year margin targets.

General Mills Business Overview & Revenue Model

Company Description

General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream, nutrition bars, wellness beverages, and savory and grain snacks, as well as various organic products, including frozen and shelf-stable vegetables. It also supplies branded and unbranded food products to the North American foodservice and commercial baking industries; and manufactures and markets pet food products, including dog and cat food. The company markets its products under the Annie's, Betty Crocker, Bisquick, Blue Buffalo, Blue Basics, Blue Freedom, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, EPIC, Fiber One, Food Should Taste Good, Fruit by the Foot, Fruit Gushers, Fruit Roll-Ups, Gardetto's, Go-Gurt, Gold Medal, Golden Grahams, Häagen-Dazs, Helpers, Jus-Rol, Kitano, Kix, Lärabar, Latina, Liberté, Lucky Charms, Muir Glen, Nature Valley, Oatmeal Crisp, Old El Paso, Oui, Pillsbury, Progresso, Raisin Nut Bran, Total, Totino's, Trix, Wanchai Ferry, Wheaties, Wilderness, Yoki, and Yoplait trademarks. It sells its products directly, as well as through broker and distribution arrangements to grocery stores, mass merchandisers, membership stores, natural food chains, e-commerce retailers, commercial and noncommercial foodservice distributors and operators, restaurants, convenience stores, and pet specialty stores, as well as drug, dollar, and discount chains. The company operates 466 leased and 392 franchise ice cream parlors. General Mills, Inc. was founded in 1866 and is headquartered in Minneapolis, Minnesota.

How the Company Makes Money

General Mills makes money primarily by selling branded packaged foods and pet food to retailers and distributors, generating revenue when products ship to customers under customer contracts. Its core revenue streams come from: (1) North America Retail—sales of consumer packaged foods in the U.S. and Canada across major categories like cereal, snacks, meals, baking mixes, and other pantry staples, typically sold through large retailers (grocery, mass, club) and e-commerce; (2) International—sales of similar consumer food products outside North America, often through local retail channels and distributor relationships; (3) North America Pet—sales of pet food products, with revenue driven by distribution across pet specialty, mass retail, and e-commerce; and (4) North America Foodservice—sales to restaurants, institutions, and other food-away-from-home operators, generally through foodservice distributors and direct customer relationships. The company’s earnings are influenced by brand strength and pricing/mix, trade spending and promotional activity with retailers, product innovation and new launches, volume changes, input and packaging costs (e.g., grains, dairy, proteins, edible oils), manufacturing and logistics efficiency, and foreign currency movements for international operations. General Mills also earns from licensing and other smaller sources where applicable, but its primary model is high-volume branded product sales through retail and foodservice distribution networks.

General Mills Financial Statement Overview

Summary

Fundamentals are steady but softening: TTM revenue declined (-2.16%) and margins compressed materially versus recent years, while free cash flow remains solid (~$1.65B) but is down (~-7.4%). Leverage is elevated (debt-to-equity ~1.49x), reducing flexibility if profitability stays pressured.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined (-2.16%) and profitability has compressed versus recent annual periods (gross margin ~25.6% TTM vs ~34–35% in FY2024–FY2025; operating margin ~11.4% TTM vs ~17–18% previously). Net margin is holding up relatively well (~12.1% TTM), but overall the trajectory shows softer top-line and weaker operating leverage compared with the prior few years.

Balance Sheet

Leverage is elevated with debt running above equity (debt-to-equity ~1.49x TTM), though it is not out of line with the company’s recent history (roughly ~1.14x–1.66x across FY2021–FY2025). Returns on equity remain strong (~23.7% TTM), indicating solid profitability on the capital base, but the balance sheet is meaningfully debt-funded and offers less flexibility if earnings continue to soften.

Cash Flow

Cash generation remains positive with TTM operating cash flow of ~$2.23B and free cash flow of ~$1.65B, but momentum has weakened (TTM free cash flow down ~7.4%). Free cash flow runs at ~76% of net income TTM, which is reasonable, yet operating cash flow relative to debt is modest (coverage ~0.27 TTM), making deleveraging more dependent on sustained cash flow and stable profits.

Breakdown	TTM	May 2025	May 2024	May 2023	May 2022	May 2021
Income Statement
Total Revenue	18.37B	19.49B	19.86B	20.09B	18.99B	18.13B
Gross Profit	6.06B	6.73B	6.93B	6.55B	6.40B	6.45B
EBITDA	3.05B	3.92B	4.08B	4.08B	4.16B	3.89B
Net Income	2.21B	2.30B	2.50B	2.59B	2.71B	2.34B
Balance Sheet
Total Assets	32.40B	33.07B	31.47B	31.45B	31.09B	31.84B
Cash, Cash Equivalents and Short-Term Investments	785.50M	363.90M	418.00M	702.70M	819.20M	1.87B
Total Debt	13.97B	15.30B	13.32B	12.06B	11.98B	13.01B
Total Liabilities	23.05B	23.86B	21.82B	20.75B	20.30B	21.46B
Stockholders Equity	9.34B	9.20B	9.40B	10.45B	10.54B	9.47B
Cash Flow
Free Cash Flow	1.65B	2.29B	2.53B	2.09B	2.75B	2.45B
Operating Cash Flow	2.23B	2.92B	3.30B	2.78B	3.32B	2.98B
Investing Cash Flow	1.22B	-1.79B	-1.20B	-346.40M	-1.69B	-512.80M
Financing Cash Flow	-3.21B	-1.18B	-2.27B	-2.40B	-2.50B	-2.72B

General Mills Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 37.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GIS, the sentiment is Negative. The current price of 37.5 is below the 20-day moving average (MA) of 42.46, below the 50-day MA of 44.39, and below the 200-day MA of 47.21, indicating a bearish trend. The MACD of -2.04 indicates Positive momentum. The RSI at 20.00 is Positive, neither overbought nor oversold. The STOCH value of 3.20 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GIS.

General Mills Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HRL	68 Neutral	$12.31B	18.81	6.13%	4.82%	1.55%	-40.81%
MKC	65 Neutral	$14.51B	22.59	14.03%	2.61%	1.64%	-1.83%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SJM	61 Neutral	$10.71B	-3.86	-21.55%	4.45%	-0.66%	-326.55%
GIS	60 Neutral	$20.01B	20.26	23.70%	5.19%	-5.65%	0.41%
CPB	54 Neutral	$6.27B	14.14	13.98%	5.64%	2.71%	4.90%
KHC	54 Neutral	$25.76B	-4.90	-13.44%	6.75%	-3.70%	-431.05%

General Mills Corporate Events

General Mills appoints new director, updates corporate bylaws

On January 26, 2026, General Mills appointed Joan L. Bottarini as an independent director to its Board, expanding the Board to twelve members and assigning her to the Audit and Compensation and Talent Committees, with compensation aligned to the company’s standard director pay practices, including an initial grant of restricted stock units. On the same date, the Board amended and restated the company’s by-laws to update procedures and disclosure requirements for director nominations and shareholder proposals at annual meetings, clarify the majority voting provision for contested elections, and implement various administrative and modernizing changes, signaling ongoing refinement of its corporate governance framework for investors and other stakeholders.

The most recent analyst rating on (GIS) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on General Mills stock, see the GIS Stock Forecast page.