General Mills Inc (GIS)
Debt-to-assets ratio
| May 31, 2024 | May 26, 2024 | May 31, 2023 | May 28, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 31,469,900 | 31,469,900 | 31,451,700 | 31,451,700 | 31,090,100 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
May 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $31,469,900K
= 0.00
The debt-to-assets ratio for General Mills Inc shows a consistent trend of 0.00 across the reporting periods from May 31, 2022, to May 31, 2024. This indicates that the company has no debt relative to its total assets during this time frame. A debt-to-assets ratio of 0.00 typically signifies that the company is using entirely equity financing to fund its operations and expansions. This low debt level implies a lower financial risk for the company and may indicate a conservative financial management strategy. However, it is important to note that while a low debt-to-assets ratio can be a positive indicator, it may also suggest limited leverage for potential growth opportunities. Further analysis of the company's overall financial position and performance would be necessary to provide a more comprehensive assessment of its financial health and outlook.
Peer comparison
May 31, 2024