General Mills Inc (GIS)

Total asset turnover

		May 26, 2024	Feb 25, 2024	Nov 26, 2023	Aug 27, 2023	May 28, 2023	Feb 26, 2023	Nov 27, 2022	Aug 28, 2022	May 29, 2022	Feb 27, 2022	Nov 28, 2021	Aug 29, 2021	May 30, 2021	Feb 28, 2021	Nov 29, 2020	Aug 30, 2020	May 31, 2020	Feb 23, 2020	Nov 24, 2019	Aug 25, 2019
Revenue (ttm)	US$ in thousands	19,623,400	19,921,400	19,985,200	20,092,800	20,365,900	20,227,000	19,807,000	19,609,100	18,992,300	18,622,800	18,415,500	18,103,000	17,911,900	18,427,300	18,083,800	17,766,400	17,397,300	16,536,800	16,498,400	16,475,500
Total assets	US$ in thousands	31,469,900	30,860,500	31,233,400	31,319,700	31,451,700	31,199,800	31,319,800	31,107,200	31,090,100	31,143,800	32,481,600	32,332,200	31,841,900	32,648,800	32,307,600	31,262,200	30,806,700	30,248,700	30,452,400	30,313,200
Total asset turnover		0.62	0.65	0.64	0.64	0.65	0.65	0.63	0.63	0.61	0.60	0.57	0.56	0.56	0.56	0.56	0.57	0.56	0.55	0.54	0.54

May 26, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $19,623,400K ÷ $31,469,900K
= 0.62

General Mills Inc's total asset turnover ratio has shown a relatively stable trend over the past few years, ranging between 0.54 and 0.65. This ratio indicates how efficiently the company is utilizing its assets to generate revenue. A total asset turnover ratio of less than 1 implies that General Mills is not generating a high amount of sales compared to its assets, which may suggest inefficiency in asset utilization.

While there has been some fluctuation in the ratio, with a slight decrease in recent periods, the overall trend suggests that General Mills may be facing challenges in optimizing its asset turnover efficiency. A ratio lower than industry peers could indicate that the company may not be effectively leveraging its assets to drive sales, and there may be opportunities to improve operational efficiency. It would be important for General Mills to analyze the reasons behind the fluctuation in the ratio and consider strategies to enhance asset utilization and improve overall financial performance.