General Mills Inc (GIS)
Return on total capital
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 2,707,500 | 3,450,700 | 3,472,200 | 3,309,600 | 3,417,000 | 3,609,200 | 3,642,300 | 3,657,000 | 3,679,600 | 4,095,700 | 4,106,600 | 3,893,300 | 3,689,300 | 3,148,700 | 3,133,000 | 3,071,400 | 3,435,500 | 3,922,900 | 4,140,200 | 4,136,200 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 8,140,200 | — | 8,622,500 | — | 8,474,600 |
| Total stockholders’ equity | US$ in thousands | 9,199,200 | 9,263,200 | 9,200,700 | 9,275,600 | 9,396,700 | 9,396,700 | 9,436,800 | 9,436,800 | 9,378,800 | 9,378,800 | 10,262,400 | 10,262,400 | 10,449,600 | 10,449,600 | 10,234,500 | 10,234,500 | 10,121,200 | 10,121,200 | 10,574,800 | 10,574,800 |
| Return on total capital | 29.43% | 37.25% | 37.74% | 35.68% | 36.36% | 38.41% | 38.60% | 38.75% | 39.23% | 43.67% | 40.02% | 37.94% | 35.31% | 30.13% | 30.61% | 16.72% | 33.94% | 20.93% | 39.15% | 21.71% |
May 31, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,707,500K ÷ ($—K + $9,199,200K)
= 29.43%
The data on General Mills Inc.'s return on total capital over the analyzed period reveals notable fluctuations and trends. At the start of the period in late August 2022, the return on total capital was relatively high at approximately 21.71%, with some months showing even higher levels, such as November 2022, at around 20.93%. However, there was a significant spike in late August 2022, reaching 39.15%, and similar elevated figures appear periodically thereafter.
Throughout late 2022 and early 2023, the metric displayed variability, with values oscillating between approximately 16.72% in February 2023 to highs exceeding 30%, such as 33.94% in late November 2022. The trend indicates periods of both contraction and expansion in the company's efficiency in generating returns from its total capital base.
From mid-2023 onwards, the return on total capital generally trended upward, reaching peaks around 40% in late August and early September 2023. These elevated levels persisted through much of late 2023, with the highest observed at approximately 43.67% in late November 2023. Subsequently, the figure showed some moderation but remained relatively strong, hovering around high 30s to low 40s percentages.
In 2024, the return slightly declined but remained elevated, with values fluctuating close to the 38% to 39% range for most of the year. Notably, the figure in May 2024 stood at approximately 36.36%, indicating some degree of moderation compared to previous peaks. The most recent data point in February 2025 indicates a return of around 37.25%, suggesting relative stability and sustained efficiency in capital utilization.
Overall, the return on total capital for General Mills Inc. has demonstrated periods of substantial profitability, with notable peaks exceeding 40%, indicating periods when the company effectively utilized its capital base to generate earnings. The fluctuations reflect changes in operational performance, investment efficiency, or capital structure over the analyzed timeframe. Despite some variability, the general trend indicates a consistently robust return on total capital over the recent years.
Peer comparison
May 31, 2025