Analysis of Reportable Segments
General Mills Inc. operates in 5 segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet.
Segment Profit Margin
General Mills Inc., profit margin by reportable segment
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| North America Retail | 22.94% | 21.92% | 22.59% | 21.50% | 20.52% | — |
| Convenience Stores & Foodservice | 21.30% | 20.34% | 21.45% | 19.70% | 17.70% | — |
| Europe & Australia | 6.54% | 7.16% | 9.00% | 10.03% | 8.44% | — |
| Asia & Latin America | 4.38% | 2.32% | 4.84% | 4.05% | 6.32% | — |
| Pet | 18.76% | — | — | — | — | — |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America Retail | North America Retail segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
| Convenience Stores & Foodservice | Convenience Stores & Foodservice segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. | |
| Europe & Australia | Europe & Australia segment profit margin ratio deteriorated from 2017 to 2018 and from 2018 to 2019. | |
| Asia & Latin America | Asia & Latin America segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. | |
| Pet |
Segment Profit Margin: North America Retail
General Mills Inc.; North America Retail; segment profit margin calculation
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment operating profit | 2,277,200) | 2,217,400) | 2,303,600) | 2,351,200) | 2,382,700) | —) |
| Net sales | 9,925,200) | 10,115,400) | 10,196,900) | 10,936,600) | 11,612,100) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 22.94% | 21.92% | 22.59% | 21.50% | 20.52% | — |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 2019 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 2,277,200 ÷ 9,925,200 = 22.94%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North America Retail | North America Retail segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level. |
Segment Profit Margin: Convenience Stores & Foodservice
General Mills Inc.; Convenience Stores & Foodservice; segment profit margin calculation
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment operating profit | 419,500) | 392,600) | 401,200) | 378,900) | 353,100) | —) |
| Net sales | 1,969,100) | 1,930,200) | 1,870,000) | 1,923,800) | 1,995,100) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 21.30% | 20.34% | 21.45% | 19.70% | 17.70% | — |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 2019 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 419,500 ÷ 1,969,100 = 21.30%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Convenience Stores & Foodservice | Convenience Stores & Foodservice segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Segment Profit Margin: Europe & Australia
General Mills Inc.; Europe & Australia; segment profit margin calculation
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment operating profit | 123,300) | 142,100) | 164,200) | 200,300) | 179,400) | —) |
| Net sales | 1,886,700) | 1,984,600) | 1,824,500) | 1,998,000) | 2,126,500) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 6.54% | 7.16% | 9.00% | 10.03% | 8.44% | — |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 2019 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 123,300 ÷ 1,886,700 = 6.54%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Europe & Australia | Europe & Australia segment profit margin ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Segment Profit Margin: Asia & Latin America
General Mills Inc.; Asia & Latin America; segment profit margin calculation
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment operating profit | 72,400) | 39,600) | 83,600) | 69,100) | 119,800) | —) |
| Net sales | 1,653,300) | 1,710,200) | 1,728,400) | 1,704,700) | 1,896,600) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 4.38% | 2.32% | 4.84% | 4.05% | 6.32% | — |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 2019 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 72,400 ÷ 1,653,300 = 4.38%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Asia & Latin America | Asia & Latin America segment profit margin ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 not reaching 2017 level. |
Segment Profit Margin: Pet
General Mills Inc.; Pet; segment profit margin calculation
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment operating profit | 268,400) | —) | —) | —) | —) | —) |
| Net sales | 1,430,900) | —) | —) | —) | —) | —) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 18.76% | — | — | — | — | — |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
1 2019 Calculation
Segment profit margin = 100 × Segment operating profit ÷ Net sales
= 100 × 268,400 ÷ 1,430,900 = 18.76%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Pet |
Net sales
General Mills Inc., net sales by reportable segment
US$ in thousands
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| North America Retail | 9,925,200) | 10,115,400) | 10,196,900) | 10,936,600) | 11,612,100) | —) |
| Convenience Stores & Foodservice | 1,969,100) | 1,930,200) | 1,870,000) | 1,923,800) | 1,995,100) | —) |
| Europe & Australia | 1,886,700) | 1,984,600) | 1,824,500) | 1,998,000) | 2,126,500) | —) |
| Asia & Latin America | 1,653,300) | 1,710,200) | 1,728,400) | 1,704,700) | 1,896,600) | —) |
| Pet | 1,430,900) | —) | —) | —) | —) | —) |
| Total | 16,865,200) | 15,740,400) | 15,619,800) | 16,563,100) | 17,630,300) | —) |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
Segment operating profit
General Mills Inc., segment operating profit by reportable segment
US$ in thousands
| May 26, 2019 | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | |
|---|---|---|---|---|---|---|
| North America Retail | 2,277,200) | 2,217,400) | 2,303,600) | 2,351,200) | 2,382,700) | —) |
| Convenience Stores & Foodservice | 419,500) | 392,600) | 401,200) | 378,900) | 353,100) | —) |
| Europe & Australia | 123,300) | 142,100) | 164,200) | 200,300) | 179,400) | —) |
| Asia & Latin America | 72,400) | 39,600) | 83,600) | 69,100) | 119,800) | —) |
| Pet | 268,400) | —) | —) | —) | —) | —) |
| Total | 3,160,800) | 2,791,700) | 2,952,600) | 2,999,500) | 3,035,000) | —) |
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).