General Mills Inc (GIS)

Receivables turnover

		May 26, 2024	May 28, 2023	May 29, 2022	May 30, 2021	May 31, 2020
Revenue	US$ in thousands	2,037,800	1,957,400	2,134,300	2,189,200	2,045,600
Receivables	US$ in thousands	1,696,200	1,683,200	1,692,100	1,638,500	1,615,100
Receivables turnover		1.20	1.16	1.26	1.34	1.27

May 26, 2024 calculation

Receivables turnover = Revenue ÷ Receivables
= $2,037,800K ÷ $1,696,200K
= 1.20

General Mills Inc's receivables turnover has exhibited some variability over the past five years. The receivables turnover ratio measures how efficiently a company is able to collect on its credit sales within a given period. A higher ratio indicates a more efficient collection process.

From 2020 to 2021, there was an improvement in the receivables turnover, with the ratio increasing from 1.27 to 1.34. This suggests that General Mills became more efficient in collecting its accounts receivable during this period.

However, in the following years from 2021 to 2024, there was a slight decline in the receivables turnover ratio, with values ranging from 1.16 to 1.26. This may indicate that General Mills faced challenges in collecting its accounts receivable efficiently during these years.

Overall, the trend in General Mills Inc's receivables turnover shows some fluctuations, with periods of both improvement and slight decline. Further analysis would be required to understand the specific factors influencing these changes and their potential impact on the company's financial performance.