General Mills Inc (GIS)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.80 | 0.85 | 0.80 | 0.87 | 1.12 | 1.15 | 1.07 | 1.03 | 1.10 | 1.28 | 1.28 | 1.36 | 1.53 | 1.42 | 1.57 |
| Financial leverage ratio | 3.35 | 3.27 | 3.33 | 3.05 | 3.01 | 3.05 | 3.09 | 2.94 | 2.95 | 3.17 | 3.41 | 3.34 | 3.36 | 3.67 | 3.78 | 3.70 | 3.82 | 3.99 | 3.95 | 4.11 |
General Mills Inc has shown a consistent decrease in its solvency ratios over the past few quarters. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have all been relatively low in recent periods, suggesting that the company has a conservative approach to leveraging debt to finance operations. However, these ratios have been gradually increasing, indicating that the company may be taking on more debt relative to its assets, capital, and equity.
The financial leverage ratio has also seen fluctuations but has generally trended upwards, which indicates that General Mills has been increasing its reliance on debt to fund its operations and investments. This may raise concerns about the company's overall financial risk and its ability to meet debt obligations.
Overall, the trend in these solvency ratios suggests that General Mills may be becoming more leveraged over time, which could impact its financial stability and flexibility in the future. Investors and stakeholders should closely monitor these ratios to assess the company's solvency position and risk profile.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 7.45 | 7.84 | 7.84 | 8.33 | 9.39 | 9.92 | 10.54 | 10.51 | 9.68 | 8.57 | 8.14 | 8.29 | 8.06 | 8.36 | 7.87 | 7.28 | 6.71 | 6.06 | 5.79 | 5.10 |
The interest coverage ratio for General Mills Inc has remained relatively stable over the past two years, ranging between 5.10 and 10.54. This indicates that the company has been able to cover its interest expenses comfortably with its operating earnings. A higher interest coverage ratio suggests that General Mills Inc has more than enough earnings to cover its interest obligations, reflecting a lower risk of default on its debt. The consistent levels of interest coverage demonstrate the company's financial stability and ability to manage its debt effectively. However, it is essential to continue monitoring this ratio over time to ensure that General Mills Inc maintains its ability to meet its interest payments in the long term.