General Mills, Inc. (GIS) Balance Sheet
GIS balance sheet, FY2026
May 31, 2026 · U.S. dollars$30.02B assets = $22.64B liabilities + $7.38B equity
Both columns are drawn to the same scale: what GIS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GIS financial health
Current ratio0.68
Tight · current assets cover current liabilities 0.68×
Debt / equity1.84
High leverage · $1.84 of debt for each $1 of equity
Equity / assets24.5%
Balanced · of assets funded by shareholders
Cash / debt3.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles69.4%
Mostly intangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
GIS balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $21.81BFY2017 | $30.02BFY2026 | +3.6%/yr | |
| Total liabilities | $16.22BFY2017 | $22.64BFY2026 | +3.8%/yr | |
| Shareholders’ equity | $4.33BFY2017 | $7.37BFY2026 | +6.1%/yr | |
| Cash & short-term investments | $766.1MFY2017 | $453.8MFY2026 | −5.7%/yr | |
| Total debt | $9.48BFY2017 | $13.54BFY2026 | +4.0%/yr | |
| Net cash (debt) | −$8.72BFY2017 | −$13.08BFY2026 | −$4.4B | |
| Working capital | −$1.27BFY2017 | −$2.16BFY2026 | −$886.4M | |
| Book value per share | $7.24FY2017 | $13.46FY2026 | +7.1%/yr | |
| Current ratio | 0.76FY2017 | 0.68FY2026 | −0.08 | |
| Debt / equity | 2.19FY2017 | 1.84FY2026 | −0.35 | |
| Shares outstanding | 598.0MFY2017 | 547.5MFY2026 | −1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GIS assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
GIS liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
GIS debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GIS balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $453.8M | $363.9M | $418.0M | $702.7M | $819.2M | $1.87B | $1.68B | $450.0M | $399.0M | $766.1M |
| Cash & equivalents | $453.8M | $363.9M | $418.0M | $585.5M | $569.4M | $1.51B | $1.68B | $450.0M | $399.0M | $766.1M |
| Short-term investments | — | — | $0 | $117.2M | $249.8M | $360.0M | $5.0M | $6.7M | $7.1M | $2.7M |
| Receivables | $1.65B | $1.94B | $1.94B | $2.01B | $1.96B | $1.82B | $1.77B | $1.97B | $1.90B | $1.63B |
| Inventory | $1.92B | $1.91B | $1.90B | $2.17B | $1.87B | $1.82B | $1.43B | $1.56B | $1.64B | $1.48B |
| Other current assets | $599.8M | $1.06B | $326.1M | $287.7M | $442.3M | $253.7M | $246.3M | $205.1M | $183.4M | $182.9M |
| Total current assets | $4.62B | $5.28B | $4.58B | $5.18B | $5.09B | $5.75B | $5.12B | $4.19B | $4.12B | $4.06B |
| Property, plant & equipment (net) | $3.44B | $4.03B | $4.23B | $3.98B | $3.73B | $3.99B | $3.95B | $3.79B | $4.05B | $3.69B |
| Goodwill & intangible assets | $20.84B | $22.70B | $21.73B | $21.48B | $21.38B | $21.21B | $21.02B | $21.16B | $21.51B | $13.28B |
| Long-term investments | $254.7M | $431.9M | $397.9M | $462.0M | $513.8M | $566.4M | $566.7M | $452.9M | $499.6M | $505.3M |
| Other non-current assets | $861.0M | $628.0M | $530.5M | $358.3M | $377.5M | $322.6M | $153.9M | $522.0M | $443.4M | $280.6M |
| Total assets | $30.02B | $33.07B | $31.47B | $31.45B | $31.09B | $31.84B | $30.81B | $30.11B | $30.62B | $21.81B |
| Liabilities | ||||||||||
| Accounts payable | $3.73B | $4.01B | $3.99B | $4.19B | $3.98B | $3.65B | $3.25B | $2.85B | $2.75B | $2.12B |
| Short-term debt | $1.12B | $2.32B | $1.73B | $1.84B | $2.59B | $2.94B | $2.71B | $2.87B | $3.15B | $1.84B |
| Deferred revenue | — | — | $103.0M | — | $2.22B | — | — | $2.03B | — | $1.72B |
| Total current liabilities | $6.77B | $7.86B | $7.03B | $7.54B | $8.02B | $8.27B | $7.49B | $7.09B | $7.34B | $5.33B |
| Long-term debt | $12.42B | $12.67B | $11.30B | $9.97B | $9.13B | $9.79B | $10.93B | $11.62B | $12.67B | $7.64B |
| Lease obligations | $402.4M | $418.1M | $385.0M | $358.9M | $355.0M | $394.4M | $379.0M | — | — | — |
| Other long-term liabilities | $3.45B | $3.33B | $3.48B | $3.25B | $3.15B | $3.41B | $3.49B | $3.48B | $3.34B | $3.24B |
| Total liabilities | $22.64B | $23.86B | $21.82B | $20.75B | $20.30B | $21.46B | $21.91B | $22.19B | $23.36B | $16.22B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $1.28B | $1.20B |
| Retained earnings (deficit) | $20.51B | $21.92B | $20.97B | $19.84B | $18.53B | $17.07B | $15.98B | $15.00B | $14.46B | $13.14B |
| Treasury stock | — | — | — | −$8.41B | — | −$6.61B | −$6.43B | −$6.78B | −$7.17B | −$7.76B |
| Accumulated other comprehensive income | −$2.52B | −$2.54B | −$2.52B | −$2.28B | −$1.97B | −$2.43B | −$2.91B | −$2.63B | −$2.43B | −$2.24B |
| Minority interest | $12.2M | $12.0M | $251.8M | $250.4M | — | $302.8M | $291.0M | $313.2M | $351.3M | $357.6M |
| Total shareholders' equity | $7.37B | $9.20B | $9.40B | $10.45B | $10.54B | $9.47B | $8.06B | $7.05B | $6.14B | $4.33B |
| Key figures | ||||||||||
| Total debt | $13.54B | $15.30B | $13.32B | $12.06B | $11.98B | $13.01B | $13.92B | $14.49B | $15.82B | $9.48B |
| Net cash (debt) | −$13.08B | −$14.93B | −$12.90B | −$11.36B | −$11.16B | −$11.14B | −$12.24B | −$14.04B | −$15.42B | −$8.72B |
| Working capital | −$2.16B | −$2.58B | −$2.45B | −$2.36B | −$2.93B | −$2.51B | −$2.37B | −$2.90B | −$3.22B | −$1.27B |
| Tangible book value | −$13.47B | −$13.50B | −$12.33B | −$11.03B | −$10.84B | −$11.74B | −$12.96B | −$14.11B | −$15.37B | −$8.95B |
| Book value per share | $13.46 | $16.50 | $16.22 | $17.38 | $17.21 | $15.30 | $13.14 | $11.65 | $10.49 | $7.24 |
| Shares outstanding | 547.5M | 557.5M | 579.5M | 601.2M | 612.6M | 619.1M | 613.3M | 605.4M | 585.7M | 598.0M |
| Current ratio | 0.68 | 0.67 | 0.65 | 0.69 | 0.63 | 0.70 | 0.68 | 0.59 | 0.56 | 0.76 |
| Quick ratio | 0.31 | 0.29 | 0.34 | 0.36 | 0.35 | 0.45 | 0.46 | 0.34 | 0.31 | 0.45 |
| Debt / equity | 1.84 | 1.66 | 1.42 | 1.15 | 1.14 | 1.37 | 1.73 | 2.05 | 2.58 | 2.19 |
| Equity / assets | 24.5% | 27.8% | 29.9% | 33.2% | 33.9% | 29.7% | 26.2% | 23.4% | 20.1% | 19.8% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $433.1M | $453.8M | $785.5M | $683.4M | $952.9M | $363.9M | $521.3M | $2.29B | $468.1M | $418.0M | $588.6M | $593.8M |
| Cash & equivalents | $433.1M | $453.8M | $785.5M | $683.4M | $952.9M | $363.9M | $521.3M | $2.29B | $468.1M | $418.0M | $588.6M | $593.8M |
| Short-term investments | — | — | — | — | — | — | — | — | — | $0 | — | — |
| Receivables | $1.78B | $1.65B | $1.86B | $1.89B | $1.80B | $1.94B | $1.79B | $1.78B | $1.84B | $1.94B | $1.77B | $1.76B |
| Inventory | $2.16B | $1.92B | $1.76B | $2.05B | $2.05B | $1.91B | $1.81B | $1.97B | $2.00B | $1.90B | $1.83B | $2.17B |
| Other current assets | $512.8M | $599.8M | $490.3M | $443.6M | $431.1M | $1.06B | $1.13B | $1.34B | $505.3M | $326.1M | $466.8M | $527.0M |
| Total current assets | $4.88B | $4.62B | $4.89B | $5.07B | $5.24B | $5.28B | $5.26B | $7.38B | $4.81B | $4.58B | $4.65B | $5.05B |
| Property, plant & equipment (net) | $3.38B | $3.44B | $3.49B | $3.51B | $3.58B | $4.03B | $3.46B | $3.46B | $3.78B | $4.23B | $3.64B | $3.60B |
| Goodwill & intangible assets | $20.82B | $20.84B | $22.66B | $22.62B | $22.75B | $22.70B | $22.58B | $21.17B | $21.77B | $21.73B | $21.39B | $21.41B |
| Long-term investments | $0 | $254.7M | $0 | $0 | $0 | $431.9M | $0 | $0 | $0 | $397.9M | $0 | $0 |
| Other non-current assets | $1.18B | $861.0M | $1.36B | $1.34B | $1.45B | $628.0M | $1.41B | $1.39B | $1.41B | $530.5M | $1.17B | $1.18B |
| Total assets | $30.27B | $30.02B | $32.40B | $32.55B | $33.02B | $33.07B | $32.71B | $33.40B | $31.77B | $31.47B | $30.86B | $31.23B |
| Liabilities | ||||||||||||
| Accounts payable | $3.72B | $3.73B | $3.63B | $3.93B | $3.74B | $4.01B | $3.69B | $4.07B | $3.82B | $3.99B | $3.61B | $3.82B |
| Short-term debt | $1.25B | $1.12B | $2.98B | $1.57B | $2.19B | $2.32B | $2.35B | $2.09B | $1.89B | $1.73B | $1.50B | $2.12B |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $103.0M | — | — |
| Total current liabilities | $6.94B | $6.77B | $8.69B | $7.71B | $7.96B | $7.86B | $7.88B | $8.02B | $7.29B | $7.03B | $7.06B | $7.90B |
| Long-term debt | $0 | $12.42B | $10.99B | $12.16B | $12.22B | $12.67B | $11.84B | $12.44B | $11.43B | $11.30B | $11.02B | $10.53B |
| Lease obligations | — | $402.4M | — | — | — | $418.1M | — | — | — | $385.0M | — | — |
| Other long-term liabilities | $15.87B | $3.45B | $3.37B | $3.35B | $3.32B | $3.33B | $3.48B | $3.49B | $3.52B | $3.48B | $3.09B | $3.17B |
| Total liabilities | $22.81B | $22.64B | $23.05B | $23.22B | $23.50B | $23.86B | $23.19B | $23.95B | $22.24B | $21.82B | $21.17B | $21.60B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M | $75.5M |
| Retained earnings (deficit) | $20.58B | $20.51B | $22.53B | $22.55B | $22.79B | $21.92B | $21.64B | $21.34B | $21.21B | $20.97B | $20.42B | $20.08B |
| Accumulated other comprehensive income | −$2.52B | −$2.52B | −$2.54B | −$2.57B | −$2.60B | −$2.54B | −$2.47B | −$2.52B | −$2.58B | −$2.52B | −$2.30B | −$2.30B |
| Minority interest | — | $12.2M | $13.7M | $12.4M | $12.3M | $12.0M | — | — | — | — | — | — |
| Total shareholders' equity | $7.45B | $7.37B | $9.34B | $9.32B | $9.51B | $9.20B | $9.26B | $9.20B | $9.28B | $9.40B | $9.44B | $9.38B |
| Key figures | ||||||||||||
| Total debt | $13.61B | $13.54B | $13.97B | $13.73B | $14.41B | $15.30B | $14.19B | $14.52B | $13.32B | $13.32B | $12.51B | $12.65B |
| Net cash (debt) | −$13.18B | −$13.08B | −$13.18B | −$13.05B | −$13.45B | −$14.93B | −$13.67B | −$12.23B | −$12.85B | −$12.90B | −$11.93B | −$12.06B |
| Working capital | −$2.06B | −$2.16B | −$3.80B | −$2.64B | −$2.72B | −$2.58B | −$2.62B | −$642.9M | −$2.48B | −$2.45B | −$2.41B | −$2.86B |
| Tangible book value | −$13.37B | −$13.47B | −$13.32B | −$13.31B | −$13.24B | −$13.50B | −$13.31B | −$11.97B | −$12.49B | −$12.33B | −$11.95B | −$12.03B |
| Book value per share | $13.85 | $13.72 | $17.27 | $17.61 | $17.52 | $16.71 | $16.69 | $16.42 | $16.45 | $16.47 | $16.47 | $16.08 |
| Shares outstanding | 537.9M | 536.9M | 541.0M | 529.0M | 542.5M | 550.4M | 555.0M | 560.4M | 563.8M | 570.4M | 572.8M | 583.4M |
| Current ratio | 0.70 | 0.68 | 0.56 | 0.66 | 0.66 | 0.67 | 0.67 | 0.92 | 0.66 | 0.65 | 0.66 | 0.64 |
| Quick ratio | 0.32 | 0.31 | 0.30 | 0.33 | 0.35 | 0.29 | 0.29 | 0.51 | 0.32 | 0.34 | 0.33 | 0.30 |
| Debt / equity | 1.83 | 1.84 | 1.49 | 1.47 | 1.52 | 1.66 | 1.53 | 1.58 | 1.44 | 1.42 | 1.33 | 1.35 |
| Equity / assets | 24.6% | 24.5% | 28.8% | 28.6% | 28.8% | 27.8% | 28.3% | 27.6% | 29.2% | 29.9% | 30.6% | 30.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 1, 2026); data from EODHD.
GIS financial position
At the end of fiscal 2026 (May 31, 2026), General Mills had total assets of $30.0 billion (down 9.2% from a year earlier), total liabilities of $22.6 billion and shareholders' equity of $7.4 billion. It held $453.8 million in cash and short-term investments against $13.5 billion of debt, net debt of $13.1 billion. Its current ratio was 0.68. In the latest quarter (ended August 31, 2026) total assets were $30.3 billion and equity $7.5 billion.
Related: GIS income statement, GIS cash flow statement, GIS key metrics. See the GIS stock overview for the latest quote and news.
GIS balance sheet FAQ
What are General Mills's total assets?
General Mills reported total assets of $30.0 billion at the end of fiscal 2026 (May 31, 2026), compared with $33.1 billion a year earlier.
How much debt does General Mills have?
General Mills had $13.5 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.84.
How much cash does General Mills have?
General Mills held $453.8 million in cash and short-term investments at the end of fiscal 2026; with $13.5 billion of debt that is net debt of $13.1 billion.
What is General Mills's book value?
General Mills's shareholders' equity (book value) was $7.4 billion at the end of fiscal 2026, or $13.46 per share.
What is General Mills's current ratio?
General Mills had current assets of $4.6 billion and current liabilities of $6.8 billion, a current ratio of 0.68 (current liabilities exceed current assets).
How much goodwill does General Mills have?
General Mills carried $20.8 billion of goodwill and intangible assets, 69.4% of total assets, at the end of fiscal 2026.