General Mills Inc (GIS)
Fixed asset turnover
| May 26, 2024 | Feb 25, 2024 | Nov 26, 2023 | Aug 27, 2023 | May 28, 2023 | Feb 26, 2023 | Nov 27, 2022 | Aug 28, 2022 | May 29, 2022 | Feb 27, 2022 | Nov 28, 2021 | Aug 29, 2021 | May 30, 2021 | Feb 28, 2021 | Nov 29, 2020 | Aug 30, 2020 | May 31, 2020 | Feb 23, 2020 | Nov 24, 2019 | Aug 25, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 19,623,400 | 19,921,400 | 19,985,200 | 20,092,800 | 20,365,900 | 20,227,000 | 19,807,000 | 19,609,100 | 18,992,300 | 18,622,800 | 18,415,500 | 18,103,000 | 17,911,900 | 18,427,300 | 18,083,800 | 17,766,400 | 17,397,300 | 16,536,800 | 16,498,400 | 16,475,500 |
| Property, plant and equipment | US$ in thousands | 3,863,900 | 3,643,600 | 3,598,900 | 3,585,200 | 3,636,200 | 3,353,600 | 3,358,000 | 3,358,600 | 3,393,800 | 3,287,900 | 3,291,500 | 3,343,200 | 3,606,800 | 3,505,500 | 3,529,800 | 3,557,000 | 3,580,600 | 3,535,000 | 3,588,500 | 3,668,300 |
| Fixed asset turnover | 5.08 | 5.47 | 5.55 | 5.60 | 5.60 | 6.03 | 5.90 | 5.84 | 5.60 | 5.66 | 5.59 | 5.41 | 4.97 | 5.26 | 5.12 | 4.99 | 4.86 | 4.68 | 4.60 | 4.49 |
May 26, 2024 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $19,623,400K ÷ $3,863,900K
= 5.08
General Mills Inc has demonstrated a relatively consistent level of efficiency in generating sales from its fixed assets over the past few years, as indicated by its fixed asset turnover ratio. The fixed asset turnover ratio has ranged between 4.49 to 6.03, with the most recent figure being 5.08. This suggests that, on average, General Mills generates $5.08 in revenue for every dollar invested in fixed assets.
The trend over the past few periods shows minor fluctuations but generally indicates efficient utilization of fixed assets to drive revenue. A higher fixed asset turnover ratio is typically preferred as it implies that the company is effectively utilizing its assets to generate sales. General Mills' ability to consistently maintain a fixed asset turnover ratio above 5 indicates strong operational efficiency in utilizing its fixed assets to generate revenue.
Overall, the trend in General Mills Inc's fixed asset turnover ratio suggests that the company has been effectively managing and utilizing its fixed assets to drive sales and contribute to its overall financial performance.
Peer comparison
May 26, 2024