General Mills (GIS) FY2024 results: revenue $19.9 billion, down 1.2% on the year
General Mills Inc. (GIS) reported revenue of $19.9 billion for fiscal 2024, the year ended 26 May 2024, down 1.2% on the year before. Net income was $2.5 billion, down 3.8%, and diluted earnings per share $4.31. The figures are the company's own, from the 10-K it filed with the SEC on 26 June 2024.
Revenue
$19.9 billion
-1.2% on the year
FY2017FY2024
Operating margin
17.3%
17.1% a year earlier
FY2017FY2024
Net income
$2.5 billion
-3.8% on the year
FY2017FY2024
Diluted EPS
$4.31
0.0% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,303
2,779
3,316
+18.9%
Capital expenditure
774
690
569
+12.3%
Free cash flow
2,528
2,089
2,747
+21.0%
Free cash flow margin
12.7%
10.4%
14.5%
Cash from investing
-1,197
-346
-1,691
Cash from financing
-2,272
-2,404
-2,503
Depreciation and amortisation
553
547
570
+1.1%
Share-based compensation
95.3
112
98.7
-14.7%
Buybacks
2,002
1,404
877
+42.7%
Dividends paid
1,363
1,288
1,244
+5.9%
Dividend per share
$2.36
$2.16
$2.04
+9.3%
Diluted shares, weighted
580m
601m
613m
-3.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
9,397
10,450
10,542
-10.1%
Non-controlling interest
252
250
246
+0.6%
Debt
12,930
11,706
11,620
+10.5%
Operating lease liabilities
283
257
248
+10.0%
Other liabilities
8,608
8,789
8,433
-2.1%
Total liabilities and equity
31,470
31,452
31,090
+0.1%
Fixed assets
3,864
3,636
3,394
+6.3%
Goodwill
14,751
14,511
14,378
+1.7%
Intangible assets
6,980
6,968
7,000
+0.2%
Securities held for sale or to maturity
2.3
2.3
2.3
0.0%
Cash and equivalents
418
586
569
-28.6%
Receivables
1,696
1,683
1,692
+0.8%
Inventory
1,898
2,172
1,867
-12.6%
Other assets
1,861
1,894
2,187
-1.7%
Total assets
31,470
31,452
31,090
+0.1%
10-K for the year ended 26 May 2024, filed 26 June 2024: the filing.