Return on Assets (ROA)
since 2005
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General Mills Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Calculation
General Mills Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net earnings attributable to General Mills1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| May 26, 2019 | = | 100 | × | ÷ | |||
| May 27, 2018 | = | 100 | × | ÷ | |||
| May 28, 2017 | = | 100 | × | ÷ | |||
| May 29, 2016 | = | 100 | × | ÷ | |||
| May 31, 2015 | = | 100 | × | ÷ | |||
| May 25, 2014 | = | 100 | × | ÷ | |||
| May 26, 2013 | = | 100 | × | ÷ | |||
| May 27, 2012 | = | 100 | × | ÷ | |||
| May 29, 2011 | = | 100 | × | ÷ | |||
| May 30, 2010 | = | 100 | × | ÷ | |||
| May 31, 2009 | = | 100 | × | ÷ | |||
| May 25, 2008 | = | 100 | × | ÷ | |||
| May 27, 2007 | = | 100 | × | ÷ | |||
| May 28, 2006 | = | 100 | × | ÷ | |||
| May 29, 2005 | = | 100 | × | ÷ |
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), 10-K (reporting date: 2013-05-26), 10-K (reporting date: 2012-05-27), 10-K (reporting date: 2011-05-29), 10-K (reporting date: 2010-05-30), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-25), 10-K (reporting date: 2007-05-27), 10-K (reporting date: 2006-05-28), 10-K (reporting date: 2005-05-29).
1 US$ in thousands
- Net earnings attributable to General Mills
- The net earnings exhibit fluctuations over the examined period. Starting at $1.24 billion in 2005, earnings decreased moderately in 2006 to approximately $1.09 billion before gradually increasing to a peak of $2.13 billion in 2018. Notable increases occurred between 2009 and 2011, with earnings rising from $1.3 billion to $1.8 billion. However, earnings experienced variability post-2011, including a significant decline in 2015 to $1.22 billion, followed by recovery in subsequent years. The most recent year shows a decrease to $1.75 billion from the prior peak in 2018.
- Total assets
- Total assets generally trended upwards over the period from $18.07 billion in 2005 to a peak around $30.62 billion in 2018, although some years demonstrated minor decreases. Asset growth was particularly pronounced between 2012 and 2018, increasing from approximately $21.1 billion to over $30 billion, indicating substantial asset accumulation during this timeframe. A slight decline is observed in the final year, with assets falling to approximately $30.11 billion.
- Return on Assets (ROA)
- ROA values demonstrate variability correlated with earnings and asset changes. Initial years show ROA between 6.29% and 6.86%, peaking at 9.63% in 2011. Following this peak, ROA generally declines, with intermittent recoveries, but maintains a downward trajectory, reaching 5.82% in the latest year. This indicates that despite asset growth, efficiency in generating earnings from assets has decreased over recent years.
- Overall analysis
- The company's financial performance presents a complex picture of growth and variability. While net earnings and total assets have generally increased over the long term, the decline in ROA suggests diminishing asset efficiency or profitability pressures. Earnings volatility, including a significant dip in 2015, contrasts with asset base growth, indicating potential challenges in leveraging assets effectively. The data highlights the importance of monitoring profitability metrics alongside asset expansion to ensure sustainable financial health.
Comparison to Competitors
General Mills Inc., ROA, long-term trends, comparison to competitors
| General Mills Inc. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| May 26, 2019 | |||||
| May 27, 2018 | |||||
| May 28, 2017 | |||||
| May 29, 2016 | |||||
| May 31, 2015 | |||||
| May 25, 2014 | |||||
| May 26, 2013 | |||||
| May 27, 2012 | |||||
| May 29, 2011 | |||||
| May 30, 2010 | |||||
| May 31, 2009 | |||||
| May 25, 2008 | |||||
| May 27, 2007 | |||||
| May 28, 2006 | |||||
| May 29, 2005 |
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), 10-K (reporting date: 2013-05-26), 10-K (reporting date: 2012-05-27), 10-K (reporting date: 2011-05-29), 10-K (reporting date: 2010-05-30), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-25), 10-K (reporting date: 2007-05-27), 10-K (reporting date: 2006-05-28), 10-K (reporting date: 2005-05-29).
Comparison to Sector (Food, Beverage & Tobacco)
General Mills Inc., ROA, long-term trends, comparison to sector (food, beverage & tobacco)
| General Mills Inc. | Food, Beverage & Tobacco | |
|---|---|---|
| May 26, 2019 | ||
| May 27, 2018 | ||
| May 28, 2017 | ||
| May 29, 2016 | ||
| May 31, 2015 | ||
| May 25, 2014 | ||
| May 26, 2013 | ||
| May 27, 2012 | ||
| May 29, 2011 | ||
| May 30, 2010 | ||
| May 31, 2009 | ||
| May 25, 2008 | ||
| May 27, 2007 | ||
| May 28, 2006 | ||
| May 29, 2005 |
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), 10-K (reporting date: 2013-05-26), 10-K (reporting date: 2012-05-27), 10-K (reporting date: 2011-05-29), 10-K (reporting date: 2010-05-30), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-25), 10-K (reporting date: 2007-05-27), 10-K (reporting date: 2006-05-28), 10-K (reporting date: 2005-05-29).
Comparison to Industry (Consumer Staples)
General Mills Inc., ROA, long-term trends, comparison to industry (consumer staples)
| General Mills Inc. | Consumer Staples | |
|---|---|---|
| May 26, 2019 | ||
| May 27, 2018 | ||
| May 28, 2017 | ||
| May 29, 2016 | ||
| May 31, 2015 | ||
| May 25, 2014 | ||
| May 26, 2013 | ||
| May 27, 2012 | ||
| May 29, 2011 | ||
| May 30, 2010 | ||
| May 31, 2009 | ||
| May 25, 2008 | ||
| May 27, 2007 | ||
| May 28, 2006 | ||
| May 29, 2005 |
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), 10-K (reporting date: 2013-05-26), 10-K (reporting date: 2012-05-27), 10-K (reporting date: 2011-05-29), 10-K (reporting date: 2010-05-30), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-25), 10-K (reporting date: 2007-05-27), 10-K (reporting date: 2006-05-28), 10-K (reporting date: 2005-05-29).