General Mills Inc (GIS)

Total asset 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
Total assets	US$ in thousands	31,469,900	31,469,900	31,451,700	31,451,700	31,090,100
Total asset turnover		0.63	0.06	0.64	0.06	0.61

May 31, 2024 calculation

Total asset turnover = Revenue ÷ Total assets
= $19,857,200K ÷ $31,469,900K
= 0.63

General Mills Inc's total asset turnover ratio has fluctuated over the past few years, ranging from 0.06 to 0.64. This ratio indicates how efficiently the company is using its assets to generate revenue. A higher ratio is generally preferred as it suggests that the company is generating more revenue per dollar of assets.

In May 2023, the total asset turnover ratio spiked to 0.64, indicating the company was generating a significant amount of revenue relative to its total assets. However, in the following year, May 2024, the ratio dropped back down to 0.63, showing a slight decrease in asset utilization efficiency.

Overall, General Mills Inc's total asset turnover ratio has shown some variability, but it is important to consider other financial metrics and industry benchmarks to assess the company's overall financial performance and efficiency in managing its assets effectively.