General Mills Inc (GIS)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	8,140,200	8,622,500	8,474,600	9,134,800	10,944,700	10,973,600	10,326,900	9,786,900	9,766,600	10,952,500	10,832,900	10,929,000	11,589,600	10,953,100	11,619,800
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
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.26	0.28	0.27	0.29	0.35	0.34	0.32	0.31	0.30	0.34	0.35	0.35	0.38	0.36	0.38

May 26, 2024 calculation

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

The debt-to-assets ratio of General Mills Inc has been relatively stable over the past few years, ranging between 0.26 and 0.38. From the data provided, it can be observed that the ratio has remained below 0.40, indicating that the company's reliance on debt to finance its operations and assets is moderate. The lower the ratio, the less financial leverage the company has, which could be considered favorable from a risk management perspective.

In the most recent period, ending on May 26, 2024, the debt-to-assets ratio was reported at 0.00, which may indicate that the company had either paid off its debt or had a very minimal amount of debt relative to its total assets during that period. However, it is important to consider additional factors such as the company's overall financial health, industry norms, and economic conditions when interpreting this ratio.

Overall, the trend in General Mills Inc's debt-to-assets ratio suggests a relatively conservative approach to leverage, with the company maintaining a reasonable balance between debt and assets in its capital structure.