General Mills Inc (GIS)
Receivables turnover
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 19,857,200 | 2,037,800 | 20,094,200 | 1,957,400 | 18,992,800 |
| Receivables | US$ in thousands | — | 1,696,200 | — | 1,683,200 | — |
| Receivables turnover | — | 1.20 | — | 1.16 | — |
May 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $19,857,200K ÷ $—K
= —
General Mills Inc's receivables turnover ratio, a measure of how effectively the company collects outstanding receivables during a period, has shown some fluctuations based on the data provided.
For the fiscal year ending May 28, 2023, the receivables turnover ratio was 1.16, indicating that General Mills collected its accounts receivable approximately 1.16 times during that year. This suggests a relatively slower collection pace compared to the following fiscal year.
In the next fiscal year ending May 26, 2024, the receivables turnover ratio improved to 1.20, showing a slightly better collection efficiency compared to the previous year.
The data for the other years is not available (denoted by "—"), so it is hard to draw a complete trend analysis. However, based on the available information, General Mills experienced a slight improvement in its receivables turnover from 2023 to 2024. Further analysis would be needed to assess the reasons behind these changes and to evaluate the company's overall effectiveness in managing its accounts receivable.
Peer comparison
May 31, 2024