General Mills Inc (GIS)
Current ratio
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 4,580,900 | 4,580,900 | 5,176,400 | 5,176,400 | 5,089,800 |
| Total current liabilities | US$ in thousands | 7,033,100 | 7,033,100 | 7,535,700 | 7,535,700 | 8,019,900 |
| Current ratio | 0.65 | 0.65 | 0.69 | 0.69 | 0.63 |
May 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $4,580,900K ÷ $7,033,100K
= 0.65
General Mills Inc's current ratio has shown a fluctuating trend over the past few years. As of May 31, 2022, the current ratio stood at 0.63, indicating that the company may have difficulties meeting its short-term obligations with its current assets alone. However, there has been a slight improvement in the current ratio as of May 31, 2023 and May 26, 2024, where it reached 0.69 and 0.65 respectively.
Overall, General Mills Inc's current ratio hovers around 0.65-0.69 in recent years, suggesting that the company may still face challenges in covering its short-term liabilities with its current assets. It is important for the company to continue monitoring and managing its current assets and liabilities to ensure liquidity and financial stability.
Peer comparison
May 31, 2024