What is General Mills's pet — goodwill impairment?

General Mills (GIS) reported pet — goodwill impairment of $0 in Q1 2024.

What does pet — goodwill impairment mean?

A reduction in the value of Pet segment goodwill because the business is performing worse than expected.

How do you interpret pet — goodwill impairment?

A negative signal indicating potential overpayment for past acquisitions or declining segment performance.

How does pet — goodwill impairment compare across companies?

A standard impairment test result used by all public companies under GAAP/IFRS.

General Mills GIS Pet — Goodwill Impairment

Discontinued — last reported Q4 '24

Similar metrics at other companies

TSCOPetsense — Goodwill, Impairment Loss

$0+100%

SJMU.S.Retail Pet Foods — Goodwill impairment charges

$0—

SJMU.S.Retail Pet Foods — Goodwill And Intangible Asset Impairment

$176.9M—

CPAYOther — Goodwill, Impairment Loss

$0-100%

TSCOTractor Supply Company and Petsense — Goodwill, Impairment Loss

$0+100%

CPAYVehicle Payments — Goodwill, Impairment Loss

$0—

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/S1×-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

See full

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:GoodwillImpairmentLoss.

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 impairment?: General Mills (GIS) reported pet — goodwill impairment of $0 in Q1 2024.
What does pet — goodwill impairment mean?: A reduction in the value of Pet segment goodwill because the business is performing worse than expected.
How do you interpret pet — goodwill impairment?: A negative signal indicating potential overpayment for past acquisitions or declining segment performance.
How does pet — goodwill impairment compare across companies?: A standard impairment test result used by all public companies under GAAP/IFRS.