General Mills, Inc. (NYSE: GIS) manufactures and markets branded human and pet foods through North America Retail, International, North America Pet and North America Foodservice. Products include cereal, snacks, convenient meals, dough, baking ingredients, pet food and super-premium ice cream.
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A snapshot of what GENERAL MILLS INC owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| May 26, 20240001193125-24-168943 | Jun 26, 2024 | 10-K | Open 10-Ksec.gov |
| May 25, 20250001193125-25-147079 | Jun 26, 2025 | 10-K | Open 10-Ksec.gov |
| May 31, 20260001628280-26-046466 | Jul 1, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Organic net sales growth is General Mills' sales-growth measure adjusted for foreign currency translation, acquisitions, divestitures and the 53rd-week effect when applicable. It includes price and mix changes and is not a measure of physical volume alone. General Mills remains cash-generative, but a sustained operating recovery is not established. Fiscal 2026 sales declined despite an extra week, and adjusted operating profit weakened alongside a GAAP loss dominated by impairments and Brazil disposal charges, partly offset by yogurt-sale gains. Consumer-value investment and productivity savings have not fully overcome weak volumes, competition and inflation. The latest quarter showed essentially flat organic sales, but adjusted profitability declined again; International and Foodservice provided offsets to North America Retail and Pet weakness. Brazil was sold after quarter-end, although final adjustments remain uncertain. Management reaffirmed fiscal 2027 non-GAAP targets in September while increasing its expected reported-sales headwind. Debt, distributions exceeding recent free cash flow, retailer concentration and substantial intangible assets remain important constraints.
Sources: 10-K · 2026-05-31 · 10-Q · 2026-08-30 · EX-99 · 2026-09-23
General Mills sells primarily through retailers, distributors and foodservice operators. Manufacturing scale, innovation, advertising and shelf access support its economics, but consumers can switch to cheaper private labels. North America Retail remains its largest business. International includes overseas pet food and Häagen-Dazs shops, so North America Pet is not the entire pet business. Joint-venture sales are outside consolidated revenue. Brand ownership also has territorial limits: Häagen-Dazs frozen-dessert rights in the United States and Canada are exclusively licensed royalty-free to Nestlé and authorized sublicensees.
The commercial challenge is defending volume without sacrificing too much margin. Walmart accounted for 22% of fiscal 2026 consolidated sales and 31% of North America Retail sales. Management described weaker consumer sentiment and a slower, more expensive volume recovery. Improved household penetration and 65% of U.S. categories holding or gaining pound share were encouraging company-reported indicators, but did not establish consolidated volume growth.
Sources: 10-K · 2026-05-31
For the 53 weeks ended May 31, 2026, sales declined 5% to $18,424.6 million. Organic sales declined 2%, with unfavorable volume and price/mix. Acquisitions and divestitures reduced reported growth by six points, while the extra week added two. GAAP operating profit fell 73% to $885.8 million, including $1,802.9 million of goodwill and brand impairments and a $1,031.8 million Brazil valuation loss, partly offset by $1,049.4 million of net divestiture gains. Transaction-specific explanations are components of these annual totals, not additional amounts.
Non-GAAP adjusted operating profit also fell 16%, to $2,811.5 million, and adjusted margin declined to 15.3% from 17.2%. Input costs and weak volumes remained substantive problems after specified comparability items were excluded. North America Retail profit fell 20%; International improved, while acquisition-supported Pet sales growth concealed declining organic shipments. Parent-attributable GAAP results moved from $2,295.2 million profit to an $87.6 million loss.
Sources: 10-K · 2026-05-31
Fiscal 2026 operating cash flow fell to $2,166.2 million from $2,918.2 million. Management chiefly attributed the decline to an adverse working-capital swing involving payables, receivable collections, interest and taxes. After $539.9 million of capital spending, non-GAAP free cash flow was $1,626.3 million. Dividends of $1,315.3 million plus $500.3 million of treasury-share cash purchases exceeded that amount. The year also included disposal proceeds and net debt repayments; disposal proceeds are investing cash flow, not recurring operating earnings.
At August 30, 2026, balance-sheet cash was $433.1 million and debt totaled $13,615.6 million by addition of reported carrying-value components. Cash-flow-statement cash also included $30.7 million held for sale and must not be added to balance-sheet cash. The $2.7 billion committed facility expiring October 2029 was undrawn: borrowing capacity is not cash. Management reported covenant compliance without disclosing actual ratios or quantitative headroom.
Sources: 10-K · 2026-05-31 · 10-Q · 2026-08-30 · EX-99 · 2026-09-23
The September 23, 2026 disclosures cover the quarter ended August 30. Sales declined 3% to $4,389.5 million, while organic sales were essentially flat. GAAP operating profit fell 63%, mainly because the comparison included prior-year yogurt divestiture gains. Adjusted operating profit nevertheless declined 11% to $634.0 million, and adjusted margin fell to 14.4%. Operating cash flow of $297.8 million was below $330.5 million of dividends even before capital expenditure. There were no current-quarter repurchases.
Brazil's sale closed September 2, after quarter-end; final price adjustments remain uncertain. September guidance reaffirmed fiscal 2027 organic growth of negative 1.5% to positive 0.5%, constant-currency adjusted operating profit down 8–13%, adjusted EPS of $3.00–$3.20 and approximately 95% free-cash-flow conversion. The combined currency, divestiture and extra-week comparison headwind to reported sales growth increased from approximately two points in July to approximately four in September. Reaffirmed targets therefore did not mean unchanged assumptions, and neither targets nor savings are achieved results.
Sources: 8-K · 2026-09-23 · 10-Q · 2026-08-30 · EX-99 · 2026-09-23 · 10-K · 2026-05-31
USD 19.4866 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 52
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 19.4866 bn | -1.9% |
| 2024 | USD 19.8572 bn | — |
Consolidated sales net of promotions, discounts, returns and other transaction-price reductions.
Sources: 10-K · 2026-05-31
USD 18.4246 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 53
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 18.4246 bn | — |
Consolidated sales net of promotions, discounts, returns and other transaction-price reductions.
Sources: 10-K · 2026-05-31
USD 2.2952 bn
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 2.2952 bn | -8.1% |
| 2024 | USD 2.4966 bn | — |
Net income or loss attributable to the parent, after noncontrolling interests.
Sources: 10-K · 2026-05-31
USD -87.6 m
FY2026 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD -87.6 m | — |
Net income or loss attributable to the parent, after noncontrolling interests.
Sources: 10-K · 2026-05-31
USD 2.1662 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 2.1662 bn | -25.8% |
| 2025 | USD 2.9182 bn | -11.6% |
| 2024 | USD 3.3026 bn | — |
GAAP consolidated operating cash flow.
Sources: 10-K · 2026-05-31
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