General Mills Inc (GIS)
Payables turnover
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 12,925,100 | -4,894,300 | 13,548,400 | -4,588,400 | 12,590,600 |
| Payables | US$ in thousands | — | 3,987,800 | — | 4,194,200 | — |
| Payables turnover | — | -1.23 | — | -1.09 | — |
May 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $12,925,100K ÷ $—K
= —
The payables turnover ratio for General Mills Inc shows a significant decrease over the period from May 28, 2023, to May 26, 2024. The ratio went from -1.09 to -1.23, indicating that the company is taking longer to pay its suppliers. A negative payables turnover ratio typically suggests potential liquidity issues or inefficiencies in managing the company's accounts payable. Further investigation into General Mills Inc's payment policies and supplier relationships may be warranted to understand the reasons behind this trend and its potential implications for the company's financial health.
Peer comparison
May 31, 2024
Company name
Symbol
Payables turnover
General Mills Inc
GIS
—
Ingredion Incorporated
INGR
—
Kellanova
K
—
Post Holdings Inc
POST
11.61
WK Kellogg Co
KLG
5.07