General Mills Inc (GIS)

Debt-to-assets ratio

		May 26, 2024	May 28, 2023	May 29, 2022	May 30, 2021	May 31, 2020
Long-term debt	US$ in thousands	—	—	9,134,800	9,786,900	10,929,000
Total assets	US$ in thousands	31,469,900	31,451,700	31,090,100	31,841,900	30,806,700
Debt-to-assets ratio		0.00	0.00	0.29	0.31	0.35

May 26, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $31,469,900K
= 0.00

General Mills Inc's debt-to-assets ratio has exhibited a decreasing trend over the past five years, indicating an improvement in the company's overall financial leverage and solvency. As of May 26, 2024, the debt-to-assets ratio is recorded at 0.00, reflecting a strong position with no debt in relation to its total assets. This suggests that General Mills has a high level of financial stability and is effectively managing its capital structure without relying heavily on debt financing. The downward trend in the debt-to-assets ratio from 0.35 in May 2020 to 0.00 in May 2024 indicates a reduction in financial risk and enhanced financial flexibility for the company. This positive trend suggests that General Mills is efficiently utilizing its assets to generate revenue and profitability while maintaining a conservative approach to debt management.