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General Mills GIS Pet — Goodwill

Discontinued — last reported Q4 '24

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Other financials

Income statement

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Revenue$4.4B-8.4%
Gross profit$1.4B-16.6%
Operating income$524.6M-41.1%
Net income$303.1M-51.6%
EPS (diluted)$0.56-50.0%

Balance sheet

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Cash & equivalents$785.5M+50.7%
Total debt$11.8B-3.4%
Total equity$9.3B+0.9%
Total assets$32.4B-0.9%

Cash flow

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Operating cash flow$397.9M-25.2%
CapEx$102.4M-1.4%
Free cash flow$295.5M-31.0%

Valuation

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Market cap$17.84B-27.8%
Enterprise value$28.88B-22.1%
P/E8.1×-1.6×
P/S-0.3×

Profitability

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Gross margin33%-2.3pp
Operating margin19%+0.7pp
Net margin12.1%-1.0pp
FCF margin9%-3.6pp

Returns & leverage

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Return on equity23.8%-3.6pp
Debt / equity1.3×-0.1×
Current ratio0.6×-0.1×

Where this comes from

Reported directly by General Mills in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: General Mills’s 10-K, filed June 26, 2024, on SEC EDGAR. View the filing →

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Questions, answered.

What is General Mills's pet — goodwill?
General Mills (GIS) reported pet — goodwill of $6.06B in Q1 2024.
How has General Mills's pet — goodwill changed year-over-year?
General Mills's pet — goodwill decreased by 0.0% year-over-year, from $6.06B to $6.06B.
What is the long-term trend for General Mills's pet — goodwill?
Over 3 years (2021 to 2024), General Mills's pet — goodwill has grown at a 4.6% compound annual growth rate (CAGR), from $21.2B to $24.25B.
What does pet — goodwill mean?
Represents the total carrying value of goodwill associated with the Pet segment, reflecting the premium paid over the fair value of net identifiable assets during acquisitions. It serves as an intangible asset that captures the value of brand reputation, customer loyalty, and synergies specific to the pet food business unit. This balance is subject to periodic impairment testing to ensure it does not exceed its recoverable amount.