General Mills Inc (GIS)
Current ratio
| May 26, 2024 | May 28, 2023 | May 29, 2022 | May 30, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 4,580,900 | 5,176,400 | 5,089,800 | 5,754,500 | 5,121,300 |
| Total current liabilities | US$ in thousands | 7,033,100 | 7,535,700 | 8,019,900 | 8,265,800 | 7,491,500 |
| Current ratio | 0.65 | 0.69 | 0.63 | 0.70 | 0.68 |
May 26, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $4,580,900K ÷ $7,033,100K
= 0.65
General Mills Inc's current ratio, a key liquidity measure, indicates the company's ability to meet its short-term obligations with its current assets. The current ratio has fluctuated over the past five years, ranging from 0.63 to 0.70. The current ratio of 0.65 as of May 26, 2024, suggests that the company may face challenges in covering its short-term liabilities with its current assets. A lower current ratio may indicate a higher risk of liquidity problems in meeting short-term obligations. General Mills Inc should closely monitor its current assets and liabilities to ensure sufficient liquidity to meet its financial obligations.
Peer comparison
May 26, 2024