General Mills Inc (GIS)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	9,396,700	9,436,800	9,378,800	10,262,400	10,449,600	10,234,500	10,121,200	10,574,800	10,542,400	9,812,900	9,524,500	9,692,300	9,470,400	8,890,300	8,550,000	8,444,600	8,058,500	7,575,100	7,712,300	7,382,800
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.44	0.46	0.44	0.46	0.53	0.54	0.52	0.51	0.52	0.56	0.56	0.58	0.60	0.59	0.61

May 26, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $9,396,700K)
= 0.00

The debt-to-capital ratio of General Mills Inc has shown fluctuations over the past few years. From November 2019 to May 2020, the ratio increased steadily from 0.59 to 0.61, indicating a higher reliance on debt compared to capital. Subsequently, from August 2020 to May 2022, the ratio continued to fluctuate between 0.56 and 0.53, suggesting a relatively stable debt level compared to capital during this period.

However, a noticeable increase in the debt-to-capital ratio occurred from February 2022 to August 2022, where the ratio rose from 0.53 to 0.46. This trend reversed in the following period, with the ratio increasing again to 0.54 by November 2022.

Interestingly, the ratio dropped significantly in the most recent period, from 0.54 in February 2023 to 0.00 in May 2024, implying a substantial reduction in debt relative to capital. This significant decrease in the debt-to-capital ratio may indicate efforts by General Mills Inc to deleverage or optimize its capital structure.

Overall, the fluctuations in the debt-to-capital ratio of General Mills Inc suggest varying levels of debt utilization and capital structure adjustments over the analyzed period.