General Mills Inc (GIS)

Return on assets (ROA)

		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
Net income (ttm)	US$ in thousands	2,496,600	2,554,000	2,437,000	2,447,400	2,593,900	2,801,800	2,909,000	2,900,300	2,707,300	2,301,300	2,236,700	2,327,900	2,339,800	2,548,700	2,407,100	2,299,500	2,181,200	2,125,700	2,118,400	1,881,000
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
ROA		7.93%	8.28%	7.80%	7.81%	8.25%	8.98%	9.29%	9.32%	8.71%	7.39%	6.89%	7.20%	7.35%	7.81%	7.45%	7.36%	7.08%	7.03%	6.96%	6.21%

May 26, 2024 calculation

ROA = Net income (ttm) ÷ Total assets
= $2,496,600K ÷ $31,469,900K
= 7.93%

General Mills Inc's return on assets (ROA) has shown some variability over the past few quarters, ranging from a low of 6.21% in February 2020 to a high of 9.32% in August 2022. The ROA metric provides insights into how efficiently the company is utilizing its assets to generate profits.

In general, a higher ROA indicates that the company is utilizing its assets effectively to generate profits. General Mills Inc's ROA has mostly been above 7% over the analyzed periods, which suggests that the company has been relatively efficient in generating profits compared to its asset base.

However, there have been fluctuations in the ROA figures, with some quarters showing higher returns than others. It's important to further investigate the reasons behind these fluctuations in order to assess the sustainability of General Mills Inc's profitability and asset management strategies.

Overall, while General Mills Inc's ROA performance has been relatively strong, it is essential to continue monitoring this metric along with other financial indicators to gain a comprehensive understanding of the company's financial health and performance.