General Mills Inc (GIS)

Total asset 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
Total assets	US$ in thousands	31,469,900	31,451,700	31,090,100	31,841,900	30,806,700
Total asset turnover		0.06	0.06	0.07	0.07	0.07

May 26, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $2,037,800K ÷ $31,469,900K
= 0.06

The total asset turnover ratio of General Mills Inc has been relatively stable over the past five years, ranging between 0.06 and 0.07. This indicates that, on average, General Mills generates $0.06 to $0.07 in sales for every dollar of assets it holds. A constant ratio suggests that General Mills has been able to efficiently utilize its assets to generate revenue. However, the ratio is on the lower side, which may indicate a slower rate of asset turnover compared to some competitors. Further analysis of the company's operational efficiency and asset management strategies would help in better understanding its overall performance.