General Mills Inc (GIS)
NYSE:GIS
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General Mills
(NYSE:GIS)
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Rating:59Neutral
Price Target:
$36.00
▲(4.38% Upside)
Action:ReiteratedDate:04/16/26
The score is driven primarily by softening financial performance (declining TTM revenue and materially lower margins, with elevated leverage) and weak technical momentum (below major moving averages with bearish MACD). Offsetting factors include a solid dividend yield and an earnings call that reaffirmed guidance and outlined a Q4 rebound plan, though near-term execution variability remains.
Positive Factors
Cash generation
Sustained positive operating and free cash flow provides durable internal funding for dividends, capex, portfolio reshaping and debt paydown. Even with a ~7.4% FCF decline, ~$1.65B annual FCF and ~76% FCF-to-net-income imply ongoing ability to support investments and financial flexibility over the next 2–6 months.
Negative Factors
Margin compression
Material erosion in gross and operating margins weakens cash generation and heightens reliance on productivity and pricing to recover prior profitability. If cost pressures or reinvestment persist, sustained margin leakage could constrain free cash flow and limit the company’s ability to delever or reinvest over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating and free cash flow provides durable internal funding for dividends, capex, portfolio reshaping and debt paydown. Even with a ~7.4% FCF decline, ~$1.65B annual FCF and ~76% FCF-to-net-income imply ongoing ability to support investments and financial flexibility over the next 2–6 months.
Read all positive factors
General Mills (GIS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.41B
Dividend Yield5.19%
Average Volume (3M)9.94M
Price to Earnings (P/E)20.3
Beta (1Y)-0.07
Revenue Growth-5.65%
EPS Growth0.41%
CountryUS
Employees34,000
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.64
Shares Outstanding533,681,200
10 Day Avg. Volume7,689,418
30 Day Avg. Volume9,936,635
Financial Highlights & Ratios
PEG Ratio-2.54
Price to Book (P/B)3.22
Price to Sales (P/S)1.52
P/FCF Ratio12.91
Enterprise Value/Market Cap1.74
Enterprise Value/Revenue1.74
Enterprise Value/Gross Profit5.29
Enterprise Value/Ebitda10.50
Forecast
1Y Price Target
$39.81Price Target Upside15.42% Upside
Rating ConsensusHold
Number of Analyst Covering17
EPS Forecast (FY)3.42
Revenue Forecast (FY)$18.42B
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...
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 Re...
General Mills Key Performance Indicators (KPIs)
Any
Net Sales by Segment
Shows revenue generated by each business segment, indicating which products or services are most successful and where growth is occurring or slowing.
Shows revenue generated by each business segment, indicating which products or services are most successful and where growth is occurring or slowing.
Data provided by:
The Fly
The FlyGeneral Mills Earnings Call Summary
Earnings Call Date:Mar 18, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jul 01, 2026
Earnings Call Sentiment Positive
The call communicated measurable progress on the company’s strategic investments (remarkability, innovation, Pet launch, salty snacks strength) and a clear plan to drive better results in Q4 and fiscal 2027, including a reaffirmed FY26 guide. However, results in Q3 were pressured by supply-chain disruption, shipment timing, inflationary costs, Foodservice (yogurt divestiture and flour), and a notable decline in parts of Snacks (Totino’s). Management articulated concrete remediation steps (product/packaging reversions, on-shelf availability fixes for Love Made Fresh, continued innovation and productivity initiatives) and expects mechanical and operational tailwinds in Q4. Overall, positive operational momentum and strategic clarity outweigh near-term execution and cost challenges, but near-term variability and margin uncertainty remain.Positive Updates
Guidance Reaffirmed and Q4/FY27 Outlook
Company reaffirmed fiscal 2026 guidance and expects a meaningful step-up in top-line and bottom-line performance starting in Q4 and into fiscal 2027, driven by the end of most reinvestment in base pricing and acceleration of other Remarkability framework elements.
Negative Updates
Q3 Profitability and Gross Margin Pressure
Q3 showed a relatively low gross margin and a notable profit decline versus expectations; management cited supply chain disruptions, shipment timing and reinvestment timing as contributors and left FY2027 margin targets unspecified.
Read all updates
Q3-2026 Updates
Positive
Negative
Guidance Reaffirmed and Q4/FY27 Outlook
Company reaffirmed fiscal 2026 guidance and expects a meaningful step-up in top-line and bottom-line performance starting in Q4 and into fiscal 2027, driven by the end of most reinvestment in base pricing and acceleration of other Remarkability framework elements.
Read all positive updates
Company Guidance
General Mills reaffirmed fiscal 2026 guidance and said Q4 should show a meaningful step‑up as most pricing reinvestments are lapped, citing a roughly 200‑basis‑point benefit from a retailer inventory flip and the mechanical tailwind of the 53rd week; management noted the midpoint of guidance implies about 75–80 basis points of organic sales growth, expects Pet to be neutral in Q4 despite a ~3‑point retailer inventory gap, and highlighted ongoing margin recovery supported by industry‑leading HMM of at least ~4% and multi‑year transformation productivity (management did not set a 2027 gross‑margin target but said stable volumes could move margins from the low‑30s toward the mid‑30s). They also reiterated innovation and distribution progress—new products tracking ~25% growth (NAR a bit higher, portfolio 20–25%), Cheerios Protein ~ $100M by year‑end, Love Made Fresh >5,000 coolers with pouch formats ~55% of fresh sales—and said the guide range reflects variability in supply‑chain/shipment timing, trade expense timing, and retailer inventory recovery.General Mills Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
62
Positive
Cash Flow
66
Positive
| 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
Negative
34.49
Price Trends
40.84
Negative
42.80
Negative
45.12
Negative
Market Momentum
-1.52
Negative
25.28
Positive
13.97
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 34.49 is below the 20-day moving average (MA) of 36.06, below the 50-day MA of 40.84, and below the 200-day MA of 45.12, indicating a bearish trend. The MACD of -1.52 indicates Negative momentum. The RSI at 25.28 is Positive, neither overbought nor oversold. The STOCH value of 13.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GIS.
General Mills Risk Analysis
General Mills disclosed 22 risk factors in its most recent earnings report. General Mills reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
General Mills Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $11.37B | 18.81 | 6.13% | 4.82% | 1.55% | -40.81% | |
64 Neutral | $14.33B | 4.70 | 27.31% | 2.61% | 1.64% | -1.83% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | $9.97B | -3.86 | -21.55% | 4.45% | -0.66% | -326.55% | |
59 Neutral | $18.41B | 20.26 | 23.70% | 5.19% | -5.65% | 0.41% | |
54 Neutral | $6.11B | 14.14 | 13.98% | 5.64% | 2.71% | 4.90% | |
54 Neutral | $26.05B | -4.90 | -13.44% | 6.75% | -3.70% | -431.05% |
* Consumer Defensive Sector Average
GIS
General Mills
35.32
-19.10
-35.10%
CPB
Campbell Soup
20.94
-14.51
-40.93%
HRL
Hormel Foods
20.90
-8.23
-28.24%
SJM
JM Smucker
93.94
-17.99
-16.07%
MKC
McCormick & Company
53.27
-20.56
-27.85%
KHC
Kraft Heinz
22.59
-5.10
-18.42%
General Mills Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
General Mills Issues €1.7 Billion Long-Term Subordinated Notes
Positive
Apr 16, 2026
On April 9, 2026, General Mills agreed to sell €1.0 billion of 4.750% Series A fixed-to-fixed reset rate junior subordinated notes and €700 million of 5.250% Series B fixed-to-fixed reset rate junior subordinated notes, both maturing i...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
General Mills appoints new director, updates corporate bylaws
Positive
Jan 27, 2026
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 c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.