financial statements

The full income statement, balance sheet, and cash-flow statement for General Mills Inc. (GIS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Income Statement	as ofMay 25 ’25	as ofMay 26 ’24	as ofMay 28 ’23	as ofMay 29 ’22	as ofMay 30 ’21	as ofMay 31 ’20
Revenue	19.5B YoY-1.9%	19.9B YoY-1.2%	20.1B YoY+5.8%	19.0B YoY+4.8%	18.1B YoY+2.8%	17.6B YoY+4.5%
Cost of revenue	12.8B YoY-1.3%	12.9B YoY-4.6%	13.5B YoY+7.6%	12.6B YoY+7.8%	11.7B YoY+1.6%	11.5B YoY+3.5%
Research & development	257M YoY-0.5%	258M YoY+0.1%	258M YoY+6.0%	243M YoY+1.6%	239M YoY+6.6%	224M YoY+1.1%
Selling, general & administrative	3.45B YoY+5.7%	3.26B YoY-6.9%	3.50B YoY+11.2%	3.15B YoY+2.2%	3.08B YoY-2.3%	3.15B YoY+7.4%
Restructuring	—	—	—	—	173M YoY+244.0%	50.2M YoY-82.4%
Operating income	3.30B YoY-3.7%	3.43B YoY-0.1%	3.43B YoY-1.2%	3.48B YoY+10.5%	3.14B YoY+6.5%	2.95B YoY+17.4%
Interest expense	524M YoY+9.4%	479M YoY+25.4%	382M YoY+0.7%	380M YoY-9.7%	420M YoY-9.9%	467M YoY-10.6%
Interest & investment income	24.6M YoY+30.9%	18.8M YoY+34.3%	14.0M YoY+268.4%	3.80M YoY-48.6%	7.40M YoY+23.3%	6.00M YoY+7.1%
Equity-method income	57.6M YoY-32.1%	84.8M YoY+4.3%	81.3M YoY-27.2%	112M YoY-5.1%	118M YoY+29.2%	91.1M YoY+26.5%
Pre-tax income	2.83B YoY-6.4%	3.03B YoY-3.6%	3.14B YoY-2.2%	3.21B YoY+12.3%	2.86B YoY+9.9%	2.60B YoY+24.9%
Income tax	574M YoY-3.5%	595M YoY-2.9%	612M YoY+4.4%	586M YoY-6.8%	629M YoY+30.9%	481M YoY+30.6%
	2.30B YoY-8.1%	2.50B YoY-3.8%	2.59B YoY-4.2%	2.71B YoY+15.7%	2.34B YoY+7.3%	2.18B YoY+24.4%
Net income to non-controlling interest	23.7M YoY+7.7%	22.0M YoY+40.1%	15.7M YoY-43.3%	27.7M YoY+346.8%	6.20M YoY-79.1%	29.6M YoY-11.6%
	$4.10 YoY-4.9%	$4.31 YoY+0.0%	$4.31 YoY-2.5%	$4.42 YoY+16.9%	$3.78 YoY+6.2%	$3.56 YoY+22.8%
EPS (basic)	$4.12 YoY-5.1%	$4.34 YoY-0.5%	$4.36 YoY-2.2%	$4.46 YoY+17.1%	$3.81 YoY+6.1%	$3.59 YoY+22.9%
Weighted-avg shares (basic)	555M YoY-3.6%	576M YoY-3.2%	595M YoY-2.1%	608M YoY-1.1%	614M YoY+1.0%	608M YoY+1.3%
Weighted-avg shares (diluted)	558M YoY-3.8%	580M YoY-3.6%	601M YoY-1.9%	613M YoY-1.0%	619M YoY+0.9%	613M YoY+1.3%
Dividends per share	$2.40 YoY+1.7%	$2.36 YoY+9.3%	$2.16 YoY+5.9%	$2.04 YoY+1.0%	$2.02 YoY+3.1%	$1.96 YoY+0.0%
Balance Sheet	as ofMay 25 ’25	as ofMay 26 ’24	as ofMay 28 ’23	as ofMay 29 ’22	as ofMay 30 ’21	as ofMay 31 ’20
	5.28B YoY+15.2%	4.58B YoY-11.5%	5.18B YoY+1.7%	5.09B YoY-11.6%	5.75B YoY+12.4%	5.12B YoY+22.3%
Cash & equivalents	364M YoY-12.9%	418M YoY-28.6%	586M YoY+2.8%	569M YoY-62.2%	1.51B YoY-10.3%	1.68B YoY+272.8%
Cash & short-term investments	766M YoY+0.0%	766M YoY+0.0%	766M YoY+0.0%	766M YoY+0.0%	766M YoY+0.0%	766M YoY+0.0%
Accounts receivable	1.80B YoY+5.9%	1.70B YoY+0.8%	1.68B YoY-0.5%	1.69B YoY+3.3%	1.64B YoY+1.4%	1.62B YoY-3.8%
Inventory	1.91B YoY+0.7%	1.90B YoY-12.6%	2.17B YoY+16.3%	1.87B YoY+2.6%	1.82B YoY+27.6%	1.43B YoY-8.5%
Prepaid expenses	465M YoY-18.3%	569M YoY-22.7%	736M YoY-8.3%	802M YoY+1.5%	790M YoY+96.5%	402M YoY-19.2%
Other current assets	465M YoY-18.3%	569M YoY-22.7%	736M YoY-8.3%	802M YoY+1.5%	790M YoY+96.5%	402M YoY-19.2%
	33.1B YoY+5.1%	31.5B YoY+0.1%	31.5B YoY+1.2%	31.1B YoY-2.4%	31.8B YoY+3.4%	30.8B YoY+2.3%
Property, plant & equipment	3.63B YoY-6.0%	3.86B YoY+6.3%	3.64B YoY+7.1%	3.39B YoY-5.9%	3.61B YoY+0.7%	3.58B YoY-5.5%
Operating lease right-of-use	399M YoY+9.0%	366M YoY+7.7%	340M YoY+1.0%	337M YoY-11.0%	379M YoY+3.7%	365M
Goodwill	15.6B YoY+5.9%	14.8B YoY+1.7%	14.5B YoY+0.9%	14.4B YoY+2.2%	14.1B YoY+1.0%	13.9B YoY-0.5%
Intangible assets	7.08B YoY+1.5%	6.98B YoY+0.2%	6.97B YoY-0.5%	7.00B YoY-2.1%	7.15B YoY+0.8%	7.10B YoY-1.0%
Deferred tax assets	186M YoY+11.1%	168M	0.00	0.00	0.00	0.00
Other non-current assets	1.46B YoY+12.7%	1.29B YoY+11.6%	1.16B YoY-5.5%	1.23B YoY-3.1%	1.27B YoY+16.7%	1.09B YoY+11.4%
	7.86B YoY+11.7%	7.03B YoY-6.7%	7.54B YoY-6.0%	8.02B YoY-3.0%	8.27B YoY+10.3%	7.49B YoY+5.7%
Accounts payable	4.01B YoY+0.5%	3.99B YoY-4.9%	4.19B YoY+5.3%	3.98B YoY+9.0%	3.65B YoY+12.5%	3.25B YoY+13.8%
Short-term & current debt	677M YoY+5637.3%	11.8M YoY-62.8%	31.7M YoY-98.1%	1.67B YoY-32.0%	2.46B YoY+5.7%	2.33B YoY+67.0%
Current lease liability	115M YoY+12.8%	102M YoY+0.3%	102M YoY-4.5%	107M YoY-4.0%	111M YoY+9.0%	102M
Other current liabilities	1.62B YoY+14.4%	1.42B YoY-11.3%	1.60B YoY+3.1%	1.55B YoY-13.2%	1.79B YoY+9.4%	1.63B YoY+19.4%
	23.9B YoY+9.3%	21.8B YoY+5.2%	20.8B YoY+2.2%	20.3B YoY-5.4%	21.5B YoY-2.0%	21.9B YoY-1.3%
Long-term debt	8.14B YoY+0.0%	8.14B YoY+0.0%	8.14B YoY-10.9%	9.13B YoY-6.7%	9.79B YoY-10.5%	10.9B YoY-6.0%
Non-current lease liability	303M YoY+7.1%	283M YoY+10.0%	257M YoY+3.5%	248M YoY-12.3%	283M YoY+2.2%	277M
Deferred tax liabilities	2.10B YoY-4.5%	2.20B YoY+4.2%	2.11B YoY-4.8%	2.22B YoY+4.7%	2.12B YoY+8.8%	1.95B YoY-4.1%
Other non-current liabilities	1.23B YoY-4.3%	1.28B YoY+12.6%	1.14B YoY+22.7%	929M YoY-28.1%	1.29B YoY-16.3%	1.54B YoY+6.6%
	9.20B YoY-2.1%	9.40B YoY-10.1%	10.4B YoY-0.9%	10.5B YoY+11.3%	9.47B YoY+17.5%	8.06B YoY+14.2%
Common stock	75.5M YoY+0.0%	75.5M YoY+0.0%	75.5M YoY+0.0%	75.5M YoY+0.0%	75.5M YoY+0.0%	75.5M YoY+0.0%
Additional paid-in capital	1.22B YoY-0.7%	1.23B YoY+0.4%	1.22B YoY+3.3%	1.18B YoY-13.4%	1.37B YoY+1.3%	1.35B YoY-2.7%
Retained earnings	21.9B YoY+4.5%	21.0B YoY+5.7%	19.8B YoY+7.0%	18.5B YoY+8.6%	17.1B YoY+6.8%	16.0B YoY+6.6%
Treasury stock	11.5B YoY+10.7%	10.4B YoY+23.2%	8.41B YoY+15.6%	7.28B YoY+10.1%	6.61B YoY+2.8%	6.43B YoY-5.1%
Accumulated other comprehensive income	-2.54B YoY-1.0%	-2.52B YoY-10.7%	-2.28B YoY-15.5%	-1.97B YoY+18.9%	-2.43B YoY+16.6%	-2.91B YoY-11.0%
Non-controlling interest	12.0M YoY-95.2%	252M YoY+0.6%	250M YoY+2.0%	246M YoY-18.9%	303M YoY+4.1%	291M YoY-7.1%
Total equity incl. non-controlling	9.21B YoY-4.5%	9.65B YoY-9.8%	10.7B YoY-0.8%	10.8B YoY+10.4%	9.77B YoY+17.1%	8.35B YoY+13.3%
Total liabilities & equity	33.1B YoY+5.1%	31.5B YoY+0.1%	31.5B YoY+1.2%	31.1B YoY-2.4%	31.8B YoY+3.4%	30.8B YoY+2.3%
Common shares issued	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%	755M YoY+0.0%
Shares outstanding (cover)	548M YoY-3.0%	565M YoY-3.9%	587M YoY-2.5%	602M YoY-1.3%	610M YoY+0.6%	606M YoY+1.2%
Cash Flow	as ofMay 25 ’25	as ofMay 26 ’24	as ofMay 28 ’23	as ofMay 29 ’22	as ofMay 30 ’21	as ofMay 31 ’20
	2.92B YoY-11.6%	3.30B YoY+18.9%	2.78B YoY-16.2%	3.32B YoY+11.2%	2.98B YoY-18.9%	3.68B YoY+31.0%
Depreciation & amortization	539M YoY-2.5%	553M YoY+1.1%	547M YoY-4.2%	570M YoY-5.2%	601M YoY+1.1%	595M YoY-4.1%
Share-based compensation	91.7M YoY-3.8%	95.3M YoY-14.7%	112M YoY+13.2%	98.7M YoY+9.8%	89.9M YoY-5.3%	94.9M YoY+11.8%
Deferred income taxes	-121M YoY-149.3%	-48.5M YoY-118.5%	-22.2M YoY-135.7%	62.2M YoY-47.6%	119M YoY+501.4%	-29.6M YoY-130.8%
Change in receivables	79.0M YoY+4288.9%	1.80M YoY-95.6%	41.2M YoY-75.2%	166M YoY+696.1%	-27.9M YoY+26.4%	-37.9M YoY-188.8%
Change in inventory	18.5M YoY+106.4%	-288M YoY-190.2%	319M YoY+271.8%	85.8M YoY-75.8%	355M YoY+444.0%	-103M YoY-92.0%
Other operating activities	-24.8M YoY-159.2%	41.9M YoY-41.1%	71.1M YoY+240.2%	-50.7M YoY+61.5%	-132M YoY-387.1%	45.9M YoY+264.5%
	-1.79B YoY-49.9%	-1.20B YoY-245.7%	-346M YoY+79.5%	-1.69B YoY-229.7%	-513M YoY-5.5%	-486M YoY+12.6%
Capital expenditure	625M YoY-19.2%	774M YoY+12.3%	690M YoY+21.2%	569M YoY+7.1%	531M YoY+15.2%	461M YoY-14.3%
Acquisitions	—	—	—	—	—	0.00
Proceeds from sale of PP&E	1.10M YoY+37.5%	800K YoY-38.5%	1.30M YoY-60.6%	3.30M YoY+22.2%	2.70M YoY+58.8%	1.70M YoY-88.1%
Other investing activities	6.50M YoY+121.3%	-30.5M YoY-501.3%	7.60M YoY-43.7%	13.5M YoY+335.5%	3.10M YoY+114.8%	-20.9M YoY-135.0%
	-1.18B YoY+48.1%	-2.27B YoY+5.5%	-2.40B YoY+4.0%	-2.50B YoY+7.8%	-2.72B YoY-39.9%	-1.94B YoY+10.8%
Long-term debt issued	2.35B YoY+14.0%	2.07B YoY-11.2%	2.32B YoY+5.5%	2.20B YoY+39.8%	1.58B YoY-3.8%	1.64B YoY+383.1%
Long-term debt repaid	1.30B YoY+44.2%	902M YoY-36.6%	1.42B YoY-54.7%	3.14B YoY+20.4%	2.61B YoY+86.8%	1.40B YoY-6.5%
Net short-term debt	667M YoY+3354.1%	-20.5M YoY+97.3%	-769M YoY-239.5%	551M YoY+669.0%	71.7M YoY+106.2%	-1.16B YoY-1647.5%
Common stock issued	—	—	—	—	—	0.00
Common stock repurchased	1.20B YoY-39.9%	2.00B YoY+42.7%	1.40B YoY+60.1%	877M YoY+190.9%	301M YoY+8764.7%	3.40M YoY+209.1%
Dividends paid	1.34B YoY-1.8%	1.36B YoY+5.9%	1.29B YoY+3.5%	1.24B YoY-0.2%	1.25B YoY+4.2%	1.20B YoY+1.2%
Other financing activities	-129M YoY-139.5%	-53.9M YoY+13.9%	-62.6M YoY-123.6%	-28.0M YoY+9.4%	-30.9M YoY-93.1%	-16.0M YoY+48.7%
FX effect on cash	—	—	—	—	72.5M YoY+450.2%	-20.7M YoY+10.4%
Net change in cash	-54.1M YoY+67.7%	-168M YoY-1140.4%	16.1M YoY+101.7%	-936M YoY-442.2%	-173M YoY-114.1%	1.23B YoY+2307.5%
Interest paid	474M YoY+2.2%	464M YoY+37.8%	337M YoY-5.8%	358M YoY-13.3%	413M YoY-1.4%	419M YoY-16.3%
Income taxes paid	599M YoY-9.3%	661M YoY-3.2%	683M YoY+25.2%	545M YoY-14.3%	636M YoY+57.7%	403M YoY-8.5%
Valuation Ratios	as ofMay 25 ’25	as ofMay 26 ’24	as ofMay 28 ’23	as ofMay 29 ’22	as ofMay 30 ’21	as ofMay 31 ’20
Market cap	29.2B YoY-24.2%	38.6B YoY-22.0%	49.4B YoY+17.5%	42.1B YoY+9.8%	38.3B YoY+0.3%	38.2B YoY+20.8%
P/E	11.5× YoY-24.3%	15.2× YoY-14.3%	17.7× YoY-3.3%	18.3× YoY+21.5%	15.1× YoY-15.9%	17.9× YoY-12.5%
P/S	1.5× YoY-22.1%	1.9× YoY-22.7%	2.5× YoY+9.9%	2.3× YoY+9.7%	2.1× YoY-9.3%	2.3× YoY+19.7%
P/B	3.2× YoY-22.7%	4.1× YoY-15.2%	4.8× YoY+12.9%	4.3× YoY-0.6%	4.3× YoY-14.1%	5.0× YoY+10.7%
P/FCF	11.9× YoY-27.5%	16.4× YoY-15.9%	19.5× YoY+14.2%	17.1× YoY+41.6%	12.1× YoY-20.9%	15.3× YoY+3.6%
Earnings yield	8.7% YoY+32.1%	6.6% YoY+16.6%	5.6% YoY+3.4%	5.5% YoY-17.7%	6.6% YoY+18.9%	5.6% YoY+14.3%
FCF yield	8.4% YoY+37.9%	6.1% YoY+19.0%	5.1% YoY-12.4%	5.9% YoY-29.4%	8.3% YoY+26.4%	6.6% YoY-3.5%
Dividend yield	4.5% YoY+30.1%	3.5% YoY+34.7%	2.6% YoY-12.1%	2.9% YoY-9.2%	3.2% YoY+3.4%	3.1% YoY-16.2%
Source filing	10-K	10-K	10-K	10-K	10-K	10-K

About this data

Source: GIS's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all GIS filings on SEC EDGAR → Not investment advice.

GIS▼ financial statements

About this data

financial statements