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.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

General Mills Inc., FCFE calculation

US$ in thousands

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12 months ended: May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
Net earnings attributable to General Mills 1,752,700 2,131,000 1,657,500 1,697,400 1,221,300 1,824,400
Net earnings attributable to redeemable and noncontrolling interests 33,500 32,000 43,600 39,400 38,100 36,900
Net noncash charges 1,028,300 135,900 844,200 634,800 1,068,700 711,900
Changes in current assets and liabilities, excluding the effects of acquisitions and divestitures (7,500) 542,100 (232,000) 258,200 214,700 (32,200)
Net cash provided by operating activities 2,807,000 2,841,000 2,313,300 2,629,800 2,542,800 2,541,000
Purchases of land, buildings, and equipment (537,600) (622,700) (684,400) (729,300) (712,400) (663,500)
Proceeds from disposal of land, buildings, and equipment 14,300 1,400 4,200 4,400 11,000 6,600
Change in notes payable (66,300) 327,500 962,400 (323,800) (509,800) 572,900
Issuance of long-term debt 339,100 6,550,000 1,072,100 542,500 2,253,200 1,673,000
Payment of long-term debt (1,493,800) (600,100) (1,000,000) (1,000,400) (1,145,800) (1,444,800)
Free cash flow to equity (FCFE) 1,062,700 8,497,100 2,667,600 1,123,200 2,439,000 2,685,200

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to General Mills Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. General Mills Inc. FCFE increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Price to FCFE Ratio, Current

General Mills Inc., current P/FCFE calculation, comparison to benchmarks

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No. shares of common stock outstanding 604,816,813
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 1,062,700
FCFE per share 1.76
Current share price (P) 53.18
Valuation Ratio
P/FCFE 30.27
Benchmarks
P/FCFE, Competitors1
Coca-Cola Co. 22.59
Mondelēz International Inc.
PepsiCo Inc. 18.66
P/FCFE, Sector
Food, Beverage & Tobacco 38.01
P/FCFE, Industry
Consumer Staples 29.90

Based on: 10-K (reporting date: 2019-05-26).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.


Price to FCFE Ratio, Historical

General Mills Inc., historical P/FCFE calculation, comparison to benchmarks

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May 26, 2019 May 27, 2018 May 28, 2017 May 29, 2016 May 31, 2015 May 25, 2014
No. shares of common stock outstanding1 601,959,611 593,367,848 577,099,679 597,020,906 598,737,719 612,508,457
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 1,062,700 8,497,100 2,667,600 1,123,200 2,439,000 2,685,200
FCFE per share3 1.77 14.32 4.62 1.88 4.07 4.38
Share price1, 4 52.52 44.26 54.97 71.32 56.59 53.05
Valuation Ratio
P/FCFE5 29.75 3.09 11.89 37.91 13.89 12.10
Benchmarks
P/FCFE, Competitors6
Coca-Cola Co. 33.31
Mondelēz International Inc. 28.38
PepsiCo Inc. 38.90
P/FCFE, Sector
Food, Beverage & Tobacco 34.24
P/FCFE, Industry
Consumer Staples 20.36

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 Data adjusted for splits and stock dividends.

2 See details »

3 2019 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 1,062,700,000 ÷ 601,959,611 = 1.77

4 Closing price as at the filing date of General Mills Inc. Annual Report.

5 2019 Calculation
P/FCFE = Share price ÷ FCFE per share
= 52.52 ÷ 1.77 = 29.75

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. General Mills Inc. P/FCFE ratio decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.