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General Mills Business Segments

Business, geographic, and product segment breakdowns

General Mills generates $18.4B in annual revenue across 4 key segments: International ($696.3M), North America Foodservice ($2.2B), North America Pet ($2.6B), and North America Retail ($10.7B). The company-wide operating margin is 18.96%. Based on the Q1 2026 filing.

International$696.3MNorth America Foodservice (TTM)$2.2BNorth America Pet (TTM)$2.6BNorth America Retail (TTM)$10.7B
Latest FilingQ1 2026
Report Date2026-03-18
Market Cap$18.4B
P/E Ratio8.29
ROE23.8%

Products & Services

Net Sales

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Snacks$1.1B$996M$1B$1B$1B$962.6M
Cereal$829.5M$762.8M$693.2M$767.2M$791.2M$762.7M
Convenient meals$795.1M$754.1M$588M$650.8M$827M$730.3M
Pet$623.8M$651.7M——$698.7M$678.1M
Dough$722.6M$647.5M$496.3M$515.1M$720.9M$618.6M
Baking mixes and ingredients$577.2M$467.5M$438.4M$448M$556M$476.1M
Super-premium ice cream$163.6M$137.5M$207.6M$221.4M$175.8M$147.7M
Other$95.5M$92M—$120.3M$73.3M$60.6M
Yogurt$377.8M$333.1M$308.8M$102M$0$0

Geographic

Cash & Equivalents

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Non Us——$316.1M———
US——$47.8M———

PP&E (Net)

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Non Us——$596M———
US——$3B———

Revenue

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Non Us$926.6M$926.6M$926.6M———
US$3.9B$3.9B$3.9B———

Business Segments

Concentration Risk %

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
International6.8%6.8%6.8%———
North America Foodservice13.5%13.5%13.5%———

Cost of Sales

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
North America Retail$2B$1.9B$1.7B$1.7B$1.8B$1.8B
International$520.5M$493.6M——$541.3M$526.7M
North America Pet$341.6M$386.3M$410.4M$368.6M$394.2M$400.9M
North America Foodservice$466.6M$430.7M$454.5M$402.3M$433.5M$397.9M

Goodwill, Measurement Period Adjustment

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
International—————$0
North America Foodservice—————$0
North America Retail—————$0

Goodwill, Written off Related to Sale of Business Unit

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
International——$0———
North America Foodservice——$0———
North America Pet——$0———
North America Retail$3.7M$3.7M$3.7M———

Net Sales

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
North America Retail$3.3B$3B$2.6B$2.6B$2.9B$2.6B
International$690.6M$651.3M——$728.9M$696.3M
North America Pet$595.8M$623.7M$675.2M$610M$660.4M$640.5M
North America Foodservice$630M$555.3M$579.4M$516.7M$581.8M$496.4M

Operating Income (Loss)

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
North America Retail$862.3M$648.1M$473.8M$564.2M$682.3M$436.1M
North America Pet$139.3M$102.2M$140.1M$112.9M$123.1M$102.8M
North America Foodservice$118.5M$82.3M$83.1M$70.6M$104.8M$56.3M
International$23.8M$18M$33.7M$65.7M$28.4M$33.6M

Other activity, primarily foreign currency translation

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
International—————$24.1M
North America Retail-$4.1M-$2.2M—-$700K-$2.1M$3.1M
North America Foodservice$0$0$0-$100K—$100K
North America Pet$0$0$0$0$0$0

Selling, general, and administrative expenses

SegmentQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
North America Retail$435.3M$434.5M$400.7M$396.8M$406.3M$401.4M
North America Pet$114.9M$135.2M$124.7M$128.5M$143.1M$136.8M
International$146.3M$139.7M——$159.2M$136M
North America Foodservice$44.9M$42.3M$41.8M$43.8M$43.5M$42.2M