General Mills, Inc. (GIS) Income Statement
GIS FY2026 at a glance
Fiscal year ended May 31, 2026 · U.S. dollarsGIS revenue and net income
Where GIS's revenue goes
FY2026Each bar shows an amount and its share of revenue. GIS kept −0.5% of revenue as net income.
GIS profit margins
GIS growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −5.4% | −2.9% | +0.3% | +1.1% |
| Gross profit | −8.0% | −1.8% | −0.8% | +0.6% |
| Operating income | −73.2% | −36.3% | −22.4% | −10.6% |
| Net income | −103.8% | — | — | — |
| EPS (diluted) | −15.7% | −6.2% | −1.3% | +2.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GIS quarterly EPS vs estimates
General Mills beat the analyst EPS estimate in 7 of the last 8 quarters.
GIS income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.42B | $19.49B | $19.86B | $20.09B | $18.99B | $18.13B | $17.63B | $16.87B | $15.74B | $15.62B |
| Cost of revenue | $12.23B | $12.75B | $12.93B | $13.55B | $12.59B | $11.68B | $11.50B | $11.11B | $10.30B | $10.05B |
| Gross profit | $6.20B | $6.73B | $6.93B | $6.55B | $6.40B | $6.45B | $6.13B | $5.76B | $5.44B | $5.57B |
| Research & development | $256.0M | $256.6M | $257.8M | $257.6M | $243.1M | $239.3M | $224.4M | $221.9M | $219.1M | $218.2M |
| Sales, general & admin | $3.39B | $2.53B | $3.17B | $2.60B | $2.34B | $2.95B | $2.35B | $2.85B | $2.76B | $2.89B |
| Total operating expenses | $5.31B | $3.43B | $3.50B | $3.11B | $2.93B | $3.30B | $3.18B | $3.24B | $3.02B | $3.08B |
| Operating income | $885.8M | $3.30B | $3.43B | $3.43B | $3.48B | $3.14B | $2.95B | $2.52B | $2.42B | $2.49B |
| Interest income | $31.0M | $24.6M | $18.8M | $14.0M | $3.8M | $7.4M | $6.0M | $5.6M | $11.7M | $7.0M |
| Interest expense | $538.6M | $524.2M | $479.2M | $382.1M | $379.6M | $420.3M | $466.5M | $521.8M | $373.7M | $295.1M |
| Income before taxes | $329.0M | $2.89B | $3.11B | $3.22B | $3.32B | $2.98B | $2.69B | $2.15B | $2.22B | $2.36B |
| Income taxes | $414.3M | $573.7M | $594.5M | $612.2M | $586.3M | $629.1M | $480.5M | $367.8M | $57.3M | $655.2M |
| Net income | −$87.6M | $2.30B | $2.50B | $2.59B | $2.71B | $2.34B | $2.18B | $1.75B | $2.13B | $1.66B |
| EBITDA | $3.36B | $3.92B | $4.08B | $4.08B | $4.16B | $3.89B | $3.67B | $3.23B | $3.14B | $3.18B |
| EPS (diluted) | $3.55 | $4.21 | $4.52 | $4.30 | $3.94 | $3.79 | $3.61 | $3.22 | $3.11 | $3.08 |
| Gross margin | 33.6% | 34.6% | 34.9% | 32.6% | 33.7% | 35.6% | 34.8% | 34.1% | 34.5% | 35.6% |
| Operating margin | 4.8% | 17.0% | 17.3% | 17.1% | 18.3% | 17.3% | 16.8% | 14.9% | 15.4% | 16.0% |
| Net margin | −0.5% | 11.8% | 12.6% | 12.9% | 14.3% | 12.9% | 12.4% | 10.4% | 13.5% | 10.6% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.39B | $4.61B | $4.44B | $4.86B | $4.52B | $4.56B | $4.84B | $5.24B | $4.85B | $4.71B | $5.10B | $5.14B |
| Cost of revenue | $2.90B | $3.01B | $3.07B | $3.17B | $2.98B | $3.08B | $3.20B | $3.31B | $3.16B | $3.03B | $3.39B | $3.37B |
| Gross profit | $1.49B | $1.60B | $1.37B | $1.69B | $1.53B | $1.47B | $1.64B | $1.93B | $1.69B | $1.69B | $1.71B | $1.77B |
| Research & development | — | — | — | — | — | — | — | — | — | $257.8M | — | — |
| Sales, general & admin | — | $888.1M | $812.9M | $842.4M | $845.1M | $867.6M | $844.4M | $852.0M | $855.1M | $26.3M | $790.9M | $830.5M |
| Total operating expenses | $853.6M | $3.70B | $842.3M | $964.5M | −$193.0M | $970.0M | $747.7M | $853.2M | $857.3M | $909.1M | $796.7M | $954.1M |
| Operating income | $633.6M | −$2.09B | $524.6M | $728.0M | $1.73B | $504.0M | $891.4M | $1.08B | $831.5M | $779.2M | $910.7M | $811.8M |
| Interest income | — | — | $128.4M | $125.9M | $132.8M | $139.7M | $136.3M | $124.6M | — | — | — | — |
| Interest expense | $142.2M | $151.5M | $128.4M | $125.9M | $132.8M | $139.7M | $136.3M | $124.6M | $123.6M | $122.7M | $121.7M | $117.8M |
| Income before taxes | $520.9M | −$2.25B | $405.4M | $558.2M | $1.61B | $371.1M | $783.4M | $997.1M | $741.0M | $695.7M | $825.6M | $738.3M |
| Income taxes | $122.8M | −$240.4M | $99.9M | $143.9M | $410.9M | $69.1M | $152.4M | $194.8M | $157.4M | $136.0M | $149.3M | $136.0M |
| Net income | $397.0M | −$2.01B | $303.1M | $413.0M | $1.20B | $294.0M | $625.6M | $795.7M | $579.9M | $557.5M | $670.1M | $595.5M |
| EBITDA | $802.9M | $854.5M | $693.4M | $988.1M | $826.4M | $811.9M | $929.0M | $1.21B | $973.3M | $883.7M | $1.06B | $1.06B |
| EPS (diluted) | $0.75 | $0.95 | $0.64 | $1.10 | $0.86 | $0.74 | $1.00 | $1.40 | $1.07 | $1.01 | $1.17 | $1.25 |
| Gross margin | 33.9% | 34.8% | 30.8% | 34.8% | 33.9% | 32.4% | 33.9% | 36.9% | 34.8% | 35.8% | 33.5% | 34.4% |
| Operating margin | 14.4% | −45.4% | 11.8% | 15.0% | 38.2% | 11.1% | 18.4% | 20.6% | 17.2% | 16.5% | 17.9% | 15.8% |
| Net margin | 9.0% | −43.6% | 6.8% | 8.5% | 26.7% | 6.5% | 12.9% | 15.2% | 12.0% | 11.8% | 13.1% | 11.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GIS's financial statements (latest annual report filed July 1, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GIS financial results
In fiscal year 2026 (ended May 31, 2026), General Mills reported revenue of $18.4 billion, down 5.4% from the year before. It had a net loss of $87.6 million, a net profit margin of −0.5%. Diluted earnings per share came to $3.55. Over five years revenue grew at an average rate of 0.3% a year.
See the GIS stock overview for the latest quote and news, or the GIS chart for price history and technical indicators.
GIS income statement FAQ
What is General Mills's annual revenue?
General Mills reported total revenue of $18.4 billion for fiscal year 2026, which ended on May 31, 2026. That was down 5.4% from $19.5 billion the previous year.
Is General Mills profitable?
No. General Mills reported a net loss of $87.6 million in fiscal 2026, a net profit margin of −0.5%; its operating margin was 4.8%.
What is General Mills's gross margin?
General Mills's gross margin was 33.6% in fiscal 2026: for every $100 of revenue, General Mills kept $34 after the direct cost of its products and services.
How much does General Mills spend on research and development?
General Mills spent $256.0 million on research and development in fiscal 2026, 1.4% of revenue.
How fast is General Mills growing?
Revenue grew 0.3% a year on average over the last five fiscal years, from $18.1 billion to $18.4 billion.
What are General Mills's earnings per share?
General Mills earned $3.55 per diluted share in fiscal 2026, compared with $4.21 a year earlier.
When does General Mills's fiscal year end?
General Mills's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 1, 2026.