General Mills Inc (GIS)

Pretax margin

May 31, 2025 Feb 28, 2025 Nov 30, 2024 Aug 31, 2024 May 31, 2024 May 26, 2024 Feb 29, 2024 Feb 25, 2024 Nov 30, 2023 Nov 26, 2023 Aug 31, 2023 Aug 27, 2023 May 31, 2023 May 28, 2023 Feb 28, 2023 Feb 26, 2023 Nov 30, 2022 Nov 27, 2022 Aug 31, 2022 Aug 28, 2022
Earnings before tax but after interest (EBT) (ttm) US$ in thousands 2,835,000 3,134,500 3,059,000 2,899,500 2,997,100 3,034,600 3,072,600 3,095,000 3,122,300 3,145,600 3,169,700 2,993,200 2,807,900 2,800,500 2,797,900 3,164,000 3,538,700 3,749,300 3,953,600 3,689,900
Revenue (ttm) US$ in thousands 19,486,600 19,644,300 19,638,700 19,497,800 19,627,200 20,052,700 20,237,700 20,043,200 19,853,400 19,744,000 19,857,000 20,078,200 20,331,800 20,522,500 20,517,100 20,108,800 20,128,300 19,798,800 19,665,300 19,485,400
Pretax margin 14.55% 15.96% 15.58% 14.87% 15.27% 15.13% 15.18% 15.44% 15.73% 15.93% 15.96% 14.91% 13.81% 13.65% 13.64% 15.73% 17.58% 18.94% 20.10% 18.94%

May 31, 2025 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $2,835,000K ÷ $19,486,600K
= 14.55%

The pretax margin of General Mills Inc. has demonstrated notable fluctuations over the observed period, reflecting changes in profitability before tax considerations. Starting from an approximate high of 20.10% on August 31, 2022, the pretax margin subsequently declined to a low of around 13.64% on February 28, 2023. This downward trend indicates a period of diminishing pre-tax profitability during this interval.

Following this trough, there was a gradual recovery, with the margin increasing to approximately 15.96% by August 31, 2023. The margin stabilized in the range between approximately 14.55% and 15.96% through the subsequent quarters, with minor month-to-month variations. The highest points post-decline were observed around late 2023 and early 2024, with margins approaching 15.96%.

Despite some oscillations, the margin's pattern indicates periods of pressure in profitability, potentially attributable to external economic factors, input costs, or operational efficiencies, followed by partial recoveries. As of late February 2025, the pretax margin was approximately 15.96%. Overall, the margin has maintained a relatively stable range over the extended period, albeit with notable short-term variations, reflecting the company's responsiveness to shifting market conditions and operational factors.