Latest Ratios: P/E Ratio -21.3x · EV/EBITDA 91.6x · ROE -1.1%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $19.0B | $18.5B | $30.2B | $39.6B | $50.6B | $42.8B | $38.9B | $38.7B | $29.9B | $24.8B | $33.9B |
| Enterprise Value | $32.0B | $31.6B | $45.2B | $52.5B | $62.1B | $54.2B | $50.4B | $50.9B | $44.0B | $40.2B | $42.6B |
| P/E Ratio → | -21.35 | — | 13.23 | 15.85 | 19.53 | 15.81 | 16.63 | 17.71 | 17.05 | 11.62 | 20.48 |
| P/S Ratio | 1.04 | 1.00 | 1.55 | 1.99 | 2.52 | 2.25 | 2.15 | 2.19 | 1.77 | 1.57 | 2.17 |
| P/B Ratio | 2.63 | 2.51 | 3.28 | 4.10 | 4.73 | 3.97 | 3.75 | 4.35 | 3.78 | 3.41 | 6.06 |
| P/FCF | 12.26 | 11.38 | 13.19 | 15.65 | 24.23 | 15.58 | 15.87 | 12.02 | 13.19 | 11.17 | 19.60 |
| P/OCF | 8.75 | 8.55 | 10.37 | 11.98 | 18.21 | 12.91 | 13.05 | 10.52 | 10.66 | 8.72 | 14.67 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.71 | 2.32 | 2.64 | 3.09 | 2.85 | 2.78 | 2.89 | 2.61 | 2.55 | 2.73 |
| EV / EBITDA | 91.56 | 21.93 | 11.75 | 13.17 | 15.60 | 13.40 | 13.46 | 14.34 | 14.02 | 13.23 | 13.78 |
| EV / EBIT | 36.17 | 11.26 | 13.35 | 14.88 | 17.56 | 15.09 | 15.35 | 16.57 | 16.85 | 15.94 | 16.57 |
| EV / FCF | — | 19.43 | 19.71 | 20.75 | 29.72 | 19.74 | 20.56 | 15.83 | 19.38 | 18.12 | 24.64 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.6% | 33.6% | 34.6% | 34.9% | 32.6% | 33.7% | 35.6% | 34.8% | 34.1% | 34.5% | 35.6% |
| Operating Margin | 4.8% | 4.8% | 17.0% | 17.3% | 17.1% | 18.3% | 17.3% | 16.8% | 14.9% | 15.4% | 16.0% |
| Net Profit Margin | -0.5% | -0.5% | 11.8% | 12.6% | 12.9% | 14.3% | 12.9% | 12.4% | 10.4% | 13.5% | 10.6% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.1% | -1.1% | 24.3% | 24.5% | 24.1% | 25.6% | 24.3% | 25.9% | 23.1% | 33.1% | 28.2% |
| ROA | -0.3% | -0.3% | 7.1% | 7.9% | 8.3% | 8.6% | 7.5% | 7.2% | 5.8% | 8.1% | 7.6% |
| ROIC | 3.0% | 3.0% | 10.6% | 11.5% | 11.6% | 11.8% | 11.0% | 10.3% | 8.5% | 9.8% | 13.3% |
| ROCE | 3.7% | 3.7% | 13.3% | 14.2% | 14.6% | 14.9% | 13.4% | 12.7% | 10.9% | 12.2% | 15.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.83 | 1.83 | 1.66 | 1.38 | 1.13 | 1.11 | 1.25 | 1.56 | 1.83 | 2.18 | 1.69 |
| Debt / EBITDA | 9.39 | 9.39 | 3.98 | 3.34 | 3.03 | 2.96 | 3.47 | 3.92 | 4.62 | 5.21 | 3.06 |
| Net Debt / Equity | — | 1.77 | 1.62 | 1.34 | 1.07 | 1.06 | 1.11 | 1.38 | 1.77 | 2.12 | 1.56 |
| Net Debt / EBITDA | 9.08 | 9.08 | 3.88 | 3.24 | 2.88 | 2.82 | 3.07 | 3.45 | 4.48 | 5.07 | 2.82 |
| Debt / FCF | — | 8.05 | 6.51 | 5.10 | 5.49 | 4.15 | 4.69 | 3.81 | 6.19 | 6.95 | 5.04 |
| Interest Coverage | 5.21 | 5.21 | 6.46 | 7.36 | 9.26 | 9.47 | 7.82 | 6.59 | 5.04 | 6.32 | 8.54 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.68 | 0.68 | 0.67 | 0.65 | 0.69 | 0.63 | 0.70 | 0.68 | 0.59 | 0.56 | 0.76 |
| Quick Ratio | 0.40 | 0.40 | 0.43 | 0.38 | 0.40 | 0.40 | 0.48 | 0.49 | 0.37 | 0.34 | 0.48 |
| Cash Ratio | 0.07 | 0.07 | 0.05 | 0.06 | 0.09 | 0.10 | 0.23 | 0.22 | 0.06 | 0.05 | 0.14 |
| Asset Turnover | — | 0.61 | 0.59 | 0.63 | 0.64 | 0.61 | 0.57 | 0.57 | 0.56 | 0.51 | 0.72 |
| Inventory Turnover | 6.38 | 6.38 | 6.67 | 6.81 | 6.24 | 6.74 | 6.42 | 8.06 | 7.12 | 6.27 | 6.78 |
| Days Sales Outstanding | — | 32.62 | 36.28 | 35.63 | 36.58 | 37.69 | 36.55 | 36.67 | 42.68 | 44.04 | 38.06 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.8% | 7.1% | 4.4% | 3.4% | 2.5% | 2.9% | 3.2% | 3.1% | 3.9% | 4.6% | 3.3% |
| Payout Ratio | — | — | 58.3% | 54.6% | 49.7% | 46.0% | 53.3% | 54.8% | 67.4% | 53.5% | 68.5% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 7.6% | 6.3% | 5.1% | 6.3% | 6.0% | 5.6% | 5.9% | 8.6% | 4.9% |
| FCF Yield | 8.2% | 8.8% | 7.6% | 6.4% | 4.1% | 6.4% | 6.3% | 8.3% | 7.6% | 9.0% | 5.1% |
| Buyback Yield | 2.6% | 2.7% | 4.0% | 5.1% | 2.8% | 2.0% | 0.8% | 0.0% | 0.0% | 2.4% | 4.9% |
| Total Shareholder Yield | 9.4% | 9.8% | 8.4% | 8.5% | 5.3% | 5.0% | 4.0% | 3.1% | 4.0% | 7.0% | 8.2% |
| Shares Outstanding | — | $548M | $558M | $580M | $601M | $613M | $619M | $613M | $605M | $586M | $598M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GIS stock.
General Mills, Inc.'s current P/E ratio is -21.3x. The historical average is 18.9x.
General Mills, Inc.'s current EV/EBITDA is 91.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
General Mills, Inc.'s return on equity (ROE) is -1.1%. The historical average is 39.3%.
Based on historical data, General Mills, Inc. is trading at a P/E of -21.3x. Compare with industry peers and growth rates for a complete picture.
General Mills, Inc.'s current dividend yield is 6.77%.
General Mills, Inc. has 33.6% gross margin and 4.8% operating margin.
General Mills, Inc.'s Debt/EBITDA ratio is 9.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Volume decline under pricing pressure
Metrics are mathematically derived from official filings.
Staples Discount vs. Premium EV/EBITDA
Based on the current forward P/E of 10.23 and EV/EBITDA of 35.76, General Mills appears discounted relative to Kellanova's P/E of 21.51, yet the elevated EV/EBITDA suggests market concerns over earnings volatility and leverage.
The forward P/E of 10.23 implies a modest earnings recovery, but the negative TTM P/E of -217.69 reflects recent losses, potentially misleading valuation assessments. Compared to peers, the high EV/EBITDA indicates that debt levels are significant in the enterprise value, warranting a closer look at cash flow stability.
Margin Resilience Eroding Under Pressure
According to the ratio data, gross margins have hovered around 34% since 2026Q3, but operating margins dropped to 14.4% in 2027Q1 from 38.2% in 2026Q1, indicating escalating SG&A pressures that may not be fully addressed.
The divergence between gross and operating margins suggests that cost control efforts are being offset by promotional spending or fixed expenses. Net margins of 9.0% in 2027Q1 remain positive, but the volatility seen in quarters like 2026Q4 underscores earnings instability.
Declining ROIC Amid Revenue Contraction
As reported in the financial statements, ROIC has declined from 5.5% in 2026Q1 to 2.3% in 2027Q1, mirroring a similar trend in ROE from 12.9% to 5.3%, which suggests deteriorating efficiency in utilizing invested capital.
The downward trajectory in returns on capital indicates that the company's growth investments, such as in the Pet segment, are not yet yielding proportional profits. This trend, if sustained, could signal long-term value erosion for shareholders.
Rising Leverage Heightens Financial Risk
Based on the balance sheet data, the debt-to-equity ratio increased to 1.82 in 2027Q1 from 1.38 in 2024Q4, while interest coverage weakened to 4.53, implying that debt service is becoming less comfortable amid earnings fluctuations.
The elevated leverage, coupled with a current ratio below 1, may limit financial flexibility for dividends or acquisitions. Investors should monitor covenant compliance, especially if operating income continues to be volatile.
Tight Liquidity Amid Working Capital Strains
According to the reported figures, the current ratio fell to 0.70 in 2027Q1 from 0.92 in 2025Q2, and the quick ratio stands at 0.39, highlighting a reliance on inventory that could be problematic under stress.
The persistent negative cash conversion cycle of -17 days in 2027Q1 indicates efficient working capital management, but the low liquidity ratios suggest that short-term obligations may strain cash reserves. This position warrants monitoring if revenue declines persist.
P/E Ratio Misrepresents Earnings Power
The P/E ratio is most commonly misapplied to General Mills due to its negative TTM value of -217.69, which obscures the company's stable free cash flow generation of 4.7% margin in 2027Q1.
Investors should focus on EV/EBITDA or P/FCF ratios, as these better reflect the business's cash generation capability rather than volatile net income. The forward P/E of 10.23 may offer a more normalized view, but it relies on uncertain earnings recovery.