GIS GENERAL MILLS INC

Overview and Growth

Fiscal 2026 results for GENERAL MILLS INC combined $18.42B of revenue with net loss of $87.60M and an operating cash inflow of $2.17B. Revenue of $18.42B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 5.4% below fiscal 2025 revenue of $19.49B, marking a top-line contraction. The company reported diluted EPS of -$0.16, adding a shareholder-level measure to the absolute income figures considered below. Against diluted EPS of $4.10 in fiscal 2025, the current result was 103.9% lower. Total assets stood at $30.02B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.61x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $6.20B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 33.6% of revenue, quantifying the portion retained before operating expenses were recognized. Operating income was $885.80M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Operating margin measured 4.8%, showing the portion of revenue preserved after the full set of operating costs. The bottom-line result was a net loss of $87.60M after operating, financing, tax, and other recognized items. Net margin was -0.5%, reflecting a loss equal to 0.5% of reported revenue. The company recognized $414.30M of income tax for the period, completing the transition from pretax income to net income. The net loss equaled 1.2% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 0.3%, placing the bottom-line deficit against the company’s resource base.

Liquidity and Capital Structure

The company held $30.02B of assets against $22.64B of liabilities and $7.38B of equity, revealing how the asset base was financed. Current assets were $4.62B against $6.77B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.68x of current liabilities, so current liabilities exceeded current assets at period end. Cash and equivalents totaled $453.80M, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 6.7% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $13.47B, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 1.83x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 44.9%, comparing borrowing with the total asset balance. Liabilities represented 75.4% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 1.5%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 9.2% from $33.07B in fiscal 2025, leaving current total assets lower year over year. Book equity was 19.9% lower than fiscal 2025 equity of $9.21B, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $2.17B, a reported cash inflow that can be compared directly with net income and capital spending. The cash-flow statement records $539.90M of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 24.9% of operating cash flow, quantifying the share of cash from operations directed to investment. The combination of operating cash flow and capital spending produced $1.63B of positive free cash flow for the period. The free-cash-flow margin was 8.8%, measuring cash remaining after capital spending against revenue. The free-cash-flow-to-assets relationship was 5.4%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending May 31, 2026. Analysis generated Oct 21, 2026.