Stock Analysis on Net

General Mills Inc. (NYSE:GIS)

This company has been moved to the archive! The financial data has not been updated since December 18, 2019.

Analysis of Short-term (Operating) Activity Ratios

Microsoft Excel

Short-term Activity Ratios (Summary)

General Mills Inc., short-term (operating) activity ratios

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Turnover Ratios
Inventory turnover 7.12 6.28 6.78 7.59 7.58 7.40
Receivables turnover 10.04 9.35 10.92 12.17 12.71 12.07
Payables turnover 3.89 3.76 4.74 5.24 6.94 7.16
Working capital turnover
Average No. Days
Average inventory processing period 51 58 54 48 48 49
Add: Average receivable collection period 36 39 33 30 29 30
Operating cycle 87 97 87 78 77 79
Less: Average payables payment period 94 97 77 70 53 51
Cash conversion cycle -7 0 10 8 24 28

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. General Mills Inc. inventory turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. General Mills Inc. receivables turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. General Mills Inc. payables turnover ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. General Mills Inc. number of days of inventory outstanding deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. General Mills Inc. number of days of payables outstanding increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. General Mills Inc. cash conversion cycle improved from 2017 to 2018 and from 2018 to 2019.

Inventory Turnover

General Mills Inc., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data (US$ in thousands)
Cost of sales 11,108,400 10,312,900 10,056,000 10,733,600 11,681,100 11,539,800
Inventories 1,559,300 1,642,200 1,483,600 1,413,700 1,540,900 1,559,400
Short-term Activity Ratio
Inventory turnover1 7.12 6.28 6.78 7.59 7.58 7.40
Benchmarks
Inventory Turnover, Competitors2
Altria Group Inc. 3.09
Coca-Cola Co. 4.33
PepsiCo Inc. 9.03
Philip Morris International Inc. 1.14
Inventory Turnover, Sector
Food, Beverage & Tobacco 3.42
Inventory Turnover, Industry
Consumer Staples 7.42

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
Inventory turnover = Cost of sales ÷ Inventories
= 11,108,400 ÷ 1,559,300 = 7.12

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. General Mills Inc. inventory turnover ratio deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Receivables Turnover

General Mills Inc., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data (US$ in thousands)
Net sales 16,865,200 15,740,400 15,619,800 16,563,100 17,630,300 17,909,600
Receivables 1,679,700 1,684,200 1,430,100 1,360,800 1,386,700 1,483,600
Short-term Activity Ratio
Receivables turnover1 10.04 9.35 10.92 12.17 12.71 12.07
Benchmarks
Receivables Turnover, Competitors2
Altria Group Inc. 165.20
Coca-Cola Co. 9.38
PepsiCo Inc. 8.59
Philip Morris International Inc. 9.68
Receivables Turnover, Sector
Food, Beverage & Tobacco 10.61
Receivables Turnover, Industry
Consumer Staples 34.71

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
Receivables turnover = Net sales ÷ Receivables
= 16,865,200 ÷ 1,679,700 = 10.04

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. General Mills Inc. receivables turnover ratio deteriorated from 2017 to 2018 but then slightly improved from 2018 to 2019.

Payables Turnover

General Mills Inc., payables turnover calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data (US$ in thousands)
Cost of sales 11,108,400 10,312,900 10,056,000 10,733,600 11,681,100 11,539,800
Accounts payable 2,854,100 2,746,200 2,119,800 2,046,500 1,684,000 1,611,300
Short-term Activity Ratio
Payables turnover1 3.89 3.76 4.74 5.24 6.94 7.16
Benchmarks
Payables Turnover, Competitors2
Altria Group Inc. 21.80
Coca-Cola Co. 3.84
PepsiCo Inc. 3.76
Philip Morris International Inc. 4.57
Payables Turnover, Sector
Food, Beverage & Tobacco 4.32
Payables Turnover, Industry
Consumer Staples 7.11

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
Payables turnover = Cost of sales ÷ Accounts payable
= 11,108,400 ÷ 2,854,100 = 3.89

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. General Mills Inc. payables turnover ratio decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.

Working Capital Turnover

General Mills Inc., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data (US$ in thousands)
Current assets 4,186,500 4,123,700 4,061,400 3,937,200 3,785,700 4,393,500
Less: Current liabilities 7,087,100 7,341,900 5,330,800 5,014,700 4,890,100 5,423,500
Working capital (2,900,600) (3,218,200) (1,269,400) (1,077,500) (1,104,400) (1,030,000)
 
Net sales 16,865,200 15,740,400 15,619,800 16,563,100 17,630,300 17,909,600
Short-term Activity Ratio
Working capital turnover1
Benchmarks
Working Capital Turnover, Competitors2
Altria Group Inc.
Coca-Cola Co.
PepsiCo Inc.
Philip Morris International Inc. 17.73
Working Capital Turnover, Sector
Food, Beverage & Tobacco
Working Capital Turnover, Industry
Consumer Staples

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
Working capital turnover = Net sales ÷ Working capital
= 16,865,200 ÷ -2,900,600 =

2 Click competitor name to see calculations.


Average Inventory Processing Period

General Mills Inc., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data
Inventory turnover 7.12 6.28 6.78 7.59 7.58 7.40
Short-term Activity Ratio (no. days)
Average inventory processing period1 51 58 54 48 48 49
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Altria Group Inc. 118
Coca-Cola Co. 84
PepsiCo Inc. 40
Philip Morris International Inc. 321
Average Inventory Processing Period, Sector
Food, Beverage & Tobacco 107
Average Inventory Processing Period, Industry
Consumer Staples 49

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 7.12 = 51

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. General Mills Inc. number of days of inventory outstanding deteriorated from 2017 to 2018 but then improved from 2018 to 2019 exceeding 2017 level.

Average Receivable Collection Period

General Mills Inc., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data
Receivables turnover 10.04 9.35 10.92 12.17 12.71 12.07
Short-term Activity Ratio (no. days)
Average receivable collection period1 36 39 33 30 29 30
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Altria Group Inc. 2
Coca-Cola Co. 39
PepsiCo Inc. 43
Philip Morris International Inc. 38
Average Receivable Collection Period, Sector
Food, Beverage & Tobacco 34
Average Receivable Collection Period, Industry
Consumer Staples 11

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 10.04 = 36

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

General Mills Inc., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data
Average inventory processing period 51 58 54 48 48 49
Average receivable collection period 36 39 33 30 29 30
Short-term Activity Ratio
Operating cycle1 87 97 87 78 77 79
Benchmarks
Operating Cycle, Competitors2
Altria Group Inc. 120
Coca-Cola Co. 123
PepsiCo Inc. 83
Philip Morris International Inc. 359
Operating Cycle, Sector
Food, Beverage & Tobacco 141
Operating Cycle, Industry
Consumer Staples 60

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 51 + 36 = 87

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period.

Average Payables Payment Period

General Mills Inc., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data
Payables turnover 3.89 3.76 4.74 5.24 6.94 7.16
Short-term Activity Ratio (no. days)
Average payables payment period1 94 97 77 70 53 51
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Altria Group Inc. 17
Coca-Cola Co. 95
PepsiCo Inc. 97
Philip Morris International Inc. 80
Average Payables Payment Period, Sector
Food, Beverage & Tobacco 85
Average Payables Payment Period, Industry
Consumer Staples 51

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 3.89 = 94

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. General Mills Inc. number of days of payables outstanding increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.

Cash Conversion Cycle

General Mills Inc., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Selected Financial Data
Average inventory processing period 51 58 54 48 48 49
Average receivable collection period 36 39 33 30 29 30
Average payables payment period 94 97 77 70 53 51
Short-term Activity Ratio
Cash conversion cycle1 -7 0 10 8 24 28
Benchmarks
Cash Conversion Cycle, Competitors2
Altria Group Inc. 103
Coca-Cola Co. 28
PepsiCo Inc. -14
Philip Morris International Inc. 279
Cash Conversion Cycle, Sector
Food, Beverage & Tobacco 56
Cash Conversion Cycle, Industry
Consumer Staples 9

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 51 + 3694 = -7

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. General Mills Inc. cash conversion cycle improved from 2017 to 2018 and from 2018 to 2019.