{"schemaVersion":1,"research":true,"symbol":"gis","name":"General Mills","topic":"moat","path":"/stock/gis/moat","status":"published","version":4,"updatedAt":"2026-10-18T14:18:18.710Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"General Mills has a narrow, eroding brand moat. Reported household penetration gains, improving base volume and category share performance support a current consumer franchise beyond trademark ownership. However, these gains required investment in value, innovation and marketing. Pricing outcomes are mixed, profitability remains under pressure, and substantial impairments weaken confidence in durability. Scale does not establish a relative cost advantage.","advantages":[{"mechanism":"intangible_assets","claim":"Established brands support consumer demand and competitive relevance. Reported penetration gains and base-volume improvement provide operating support, although their attribution to brand strength is indirect and issuer-reported.","durability":"A narrow advantage requiring continued reinvestment. Recent demand improvements support persistence, but the supplied evidence does not demonstrate exceptional long-term protection or consistently strong pricing power.","risks":"Lower-priced private labels, well-resourced branded rivals and concentrated retail purchasing constrain pricing. Realized brand impairments and declining adjusted profitability demonstrate erosion; consumer-preference and reputational risks remain possibilities rather than established outcomes.","invalidation":"The thesis would fail if subsequent comparable disclosures show sustained household penetration and category-share declines despite continued brand investment, or if restoring volume repeatedly requires unfavorable price realization and mix without recovery in profitability. Further broad brand impairments would reinforce invalidation.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5","e10","e11"],"counterEvidenceIds":["e6","e7","e8","e9","e12","e13","e14","e15"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Business / Trademarks and patents","excerpt":"Some of the more important trademarks used in our global operations (set forth in italics in this report) include Annie’s, Betty Crocker, Bisquick, Blue Buffalo, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, Dunkaroos, Edgard & Cooper, Fiber One, Fruit by the Foot, Fruit Gushers, Fruit Roll-Ups, Gardetto’s, Gold Medal, Golden Grahams, Häagen-Dazs, Kitano, Kix, Lärabar, Latina, Lucky Charms, Nature Valley, Nudges, Oatmeal Crisp, Old El Paso, Pillsbury, Progresso, Tastefuls, Tiki Pets, Total, Totino’s, Trix, True Solutions, Wanchai Ferry, Wheaties, Wilderness, and Yoki."},{"id":"e2","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 operating highlights / Base volume","excerpt":"Our investments in value, innovation, and brand building helped drive base volume improvement from a 10 percent decline in fiscal 2025 to 1 percent growth in the fourth quarter of fiscal 2026."},{"id":"e3","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 operating highlights / Pound share","excerpt":"We grew or held pound share in 65 percent of our top 10 U.S."},{"id":"e4","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 operating highlights / Categories and household penetration","excerpt":"categories, and household penetration increased in both North America Retail and North America Pet."},{"id":"e5","sourceId":"filing-1","location":"Business / Competition / Competitive factors","excerpt":"Competition in our product categories is based on product innovation, product quality, price, brand recognition and loyalty, effectiveness of marketing, promotional activity, convenient ordering and delivery to the consumer, and the ability to identify and satisfy consumer preferences."},{"id":"e6","sourceId":"filing-1","location":"Business / Competition / Lower-priced alternatives","excerpt":"In most product categories, we compete not only with other widely advertised, branded products, but also with regional brands and with generic and private label products that are generally sold at lower prices."},{"id":"e7","sourceId":"filing-1","location":"Business / Competition / Competitor resources","excerpt":"All our principal competitors have substantial financial, marketing, and other resources."},{"id":"e8","sourceId":"filing-1","location":"Risk factors / Customer concentration","excerpt":"In fiscal 2026, Walmart accounted for 22 percent of our consolidated net sales and 31 percent of net sales of our North America Retail segment."},{"id":"e9","sourceId":"filing-1","location":"Note 19 / Quarterly data / Pet goodwill and brand impairments","excerpt":"QUARTERLY DATA (UNAUDITED) Summarized quarterly data for fiscal 2026 and fiscal 2025 follows: First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal Year Fiscal Year Fiscal Year Fiscal Year In Millions, Except Per Share Amounts 2026 2025 2026 2025 2026 2025 2026 2025 Net sales $4,517.5 $4,848.1 $4,860.8 $5,240.1 $4,436.7 $4,842.2 $4,609.6 $4,556.2 Gross margin 1,532.8 1,688.8 1,692.5 1,931.1 1,366.9 1,639.1 1,603.5 1,474.0 Net earnings (loss) attributable to General Mills 1,204.2 579.9 413.0 795.7 303.1 625.6 (2,007.9) 294.0 EPS: Basic $2.22 $1.03 $0.78 $1.43 $0.57 $1.14 $(3.74) $0.53 Diluted $2.22 $1.03 $0.78 $1.42 $0.56 $1.12 $(3.74) $0.53 In the fourth quarter of fiscal 2026, we recorded a $1,500.0 million non-cash goodwill impairment charge related to our North America Pet reporting unit and $250.0 million of non-cash impairment charges related to our Nudges and True Chews brand intangible assets."},{"id":"e10","sourceId":"filing-1","location":"MD&A / International / Fiscal 2026 organic sales","excerpt":"International organic net sales increased 3 percent in fiscal 2026 compared to fiscal 2025, driven by an increase in contributions from"},{"id":"e11","sourceId":"filing-1","location":"MD&A / International / Organic volume and price realization and mix","excerpt":"organic volume growth and favorable organic net price realization and mix."},{"id":"e12","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 financial results / Organic sales","excerpt":"F26 Financial Results Net sales totaled $18.4 billion and organic net sales decreased 2% compared to year-ago levels*."},{"id":"e13","sourceId":"filing-2","location":"Non-GAAP measures / Adjusted operating profit margin reconciliation","excerpt":"30, 2026 Aug. 24, 2025 In Millions Value Percent of Net Sales Value Percent of Net Sales Operating profit as reported $633.6 14.4% $1,725.8 38.2% Mark-to-market effects (29.5) (0.7)% 8.5 0.2% Valuation loss on held for sale business 23.7 0.5% — —% Transaction costs 4.3 0.1% 11.8 0.3% Acquisition integration costs 1.7 —% 1.4 —% Restructuring and transformation charges 0.2 —% 18.3 0.4% Divestitures gain — —% (1,054.4) (23.3)% Investment activity, net — —% (0.2) —% Adjusted operating profit $634.0 14.4% $711.2 15.7% Note: Table may not foot due to rounding."},{"id":"e14","sourceId":"filing-2","location":"MD&A / International / First-quarter fiscal 2027 organic growth drivers","excerpt":"by an increase in contributions from organic volume growth, partially offset by unfavorable organic net price realization and mix."},{"id":"e15","sourceId":"filing-2","location":"MD&A / Consolidated results / Adjusted operating profit drivers","excerpt":"basis, primarily driven by higher input costs and a decrease in contributions from volume growth, partially offset by favorable net"},{"id":"e16","sourceId":"filing-2","location":"MD&A / Consolidated results / Price realization and adjusted margin","excerpt":"price realization and mix. Adjusted operating profit margin decreased 130 basis points to 14.4 percent."},{"id":"e17","sourceId":"filing-2","location":"MD&A / International / First-quarter fiscal 2027 organic sales","excerpt":"International organic net sales increased 4 percent in the first quarter of fiscal 2027 compared to the same period in fiscal 2026, driven"},{"id":"e18","sourceId":"filing-2","location":"MD&A / Consolidated results / First-quarter fiscal 2027 organic sales","excerpt":"Organic net sales essentially matched the same period last year."},{"id":"e19","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 capital allocation / Operating cash and investment","excerpt":"Net cash provided by operating activities totaled $2.2 billion and capital investments totaled $540 million."},{"id":"e20","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 capital allocation / Shareholder distributions","excerpt":"We returned $1.8 billion to shareholders through dividends of $1.3 billion and share repurchases of $500 million."},{"id":"e21","sourceId":"filing-2","location":"Consolidated statements of cash flows / Quarter ended August 30, 2026","excerpt":"30, 2026 Aug. 24, 2025 Cash Flows - Operating Activities Net earnings, including earnings (loss) attributable to noncontrolling interests $398.1 $1,204.0 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 139.8 138.7 After-tax earnings from joint ventures (18.9) (6.8) Distributions of earnings from joint ventures 10.9 26.9 Stock-based compensation 21.8 15.1 Deferred income taxes (18.0) 10.0 Pension and other postretirement benefit plan contributions (6.6) (5.2) Pension and other postretirement benefit plan costs (3.0) (6.7) Divestitures gain — (1,054.4) Restructuring, transformation, impairment, and other exit costs 21.0 (2.7) Changes in current assets and liabilities, excluding the effects of acquisitions and divestitures (251.5) 58.8 Other, net 4.2 19.3 Net cash provided by operating activities 297.8 397.0 Cash Flows - Investing Activities Purchases of land, buildings, and equipment (90.5) (109.5) Proceeds from divestitures — 1,803.4 Investments in affiliates, net (25.4) — Proceeds from disposal of land, buildings, and equipment — 2.8 Other, net — (1.9) Net cash (used) provided by investing activities (115.9) 1,694.8 Cash Flows - Financing Activities Change in notes payable 132.7 (654.8) Proceeds from common stock issued on exercised options — 0.2 Purchases of common stock for treasury — (500.0) Dividends paid (330.5) (330.9) Other, net (11.8) (21.7) Net cash used by financing activities (209.6) (1,507.2) Effect of exchange rate changes on cash and cash equivalents (0.2) 4.4 (Decrease) increase in cash and cash equivalents (27.9) 589.0 Cash and cash equivalents - beginning of year (includes $37.9 million of cash classified as held for sale as of May 31, 2026) 491.7 363.9 Cash and cash equivalents - end of period (includes $30.7 million of cash classified as held for sale as of Aug."},{"id":"e22","sourceId":"filing-1","location":"Note 19 / Quarterly data / Brazil valuation loss","excerpt":"Also, we recorded a $1,031.8 million non-cash pre-tax valuation loss related to the planned divestiture of our Brazil business."},{"id":"e23","sourceId":"filing-3","location":"Executive compensation / Compensation elements, performance measures and vesting","excerpt":"Percentage Of CEO Target Compensation Total Direct Compensation Element Pay Element Performance Measure Strategy and Performance Alignment BASE SALARY Cash •Individual performance and contributions based on scope and complexity of role •Positioned within a reasonable range of market median based on individual performance and contributions ANNUAL INCENTIVE Cash-based award Company Performance (80%) •Organic net sales growth* •Adjusted operating profit growth* Individual Performance (20%) •Rewards and recognizes annual accomplishment of key financial objectives •Corporate performance measures aligned with long-term growth model LONG-TERM INCENTIVE PSUs Three-year cliff vesting (with one- year additional holding period required) and Three-year measurement period •Organic net sales growth* (CAGR) •Cumulative operating cash flow* •+/- 25% Relative TSR Modifier •Performance metrics align with key elements for delivering growth and creating value for shareholders Stock Options Four-year graded vesting •Ultimate value tied to stock price appreciation RSUs Four-year graded vesting •Ultimate value tied to TSR *Non-GAAP measures."},{"id":"e24","sourceId":"filing-3","location":"Stock ownership / Executive ownership requirements","excerpt":"Minimum ownership requirements are 10 times annual salary for the CEO, five times annual salary for members of the CEO’s senior leadership team and three times annual salary for other corporate officers."},{"id":"e25","sourceId":"filing-3","location":"Stock ownership / Executive share-retention requirement","excerpt":"Executives must hold 50% of net, after-tax shares that they receive pursuant to stock awards until they meet the ownership requirements."},{"id":"e26","sourceId":"filing-3","location":"Stock ownership / Definition of qualifying ownership","excerpt":"Stock ownership includes direct and indirect ownership, deferred stock units, unvested RSUs, and stock held in the 401(k) Plan as of July 31, 2026, but does not include unvested PSUs and unexercised stock options (whether vested or unvested)."},{"id":"e27","sourceId":"filing-3","location":"Stock ownership / Chief Operating Officer ownership shortfall","excerpt":"Given Ms. McNabb’s recent appointment as Chief Operating Officer, she has not yet met our minimum ownership requirements."},{"id":"e28","sourceId":"filing-3","location":"Appendix / Incentive performance adjustments","excerpt":"(a)Incentive performance is measured on a comparable basis and excludes certain items affecting comparability, including the impact of acquisitions and divestitures, restructuring projects, and tax reform."},{"id":"e29","sourceId":"filing-3","location":"Corporate governance / Compensation committee independence","excerpt":"Each member met the independence standards for compensation and talent committee membership under the listing standards of the NYSE during fiscal 2026."},{"id":"e30","sourceId":"filing-3","location":"Executive compensation / Committee executive sessions","excerpt":"In order to promote independent decision making on executive compensation matters, the compensation and talent committee meets in executive session without management present at each meeting, often with the participation of the independent compensation consultant."},{"id":"e31","sourceId":"filing-3","location":"Corporate governance / Governance committee responsibilities","excerpt":"Henry Jo Ann Jenkins Eric D. Sprunk Functions: •Monitors and recommends changes in the organization, procedures, and policies of the board, including committee appointments and corporate governance policies and practices; •Develops policy on composition, participation, and size of the board as well as tenure and retirement of directors; •Recommends candidates for election to the board and evaluates continuing service of incumbent directors; •Oversees the annual board self-evaluation process; and •Reviews and approves transactions between General Mills and related persons."},{"id":"e32","sourceId":"filing-2","location":"Segment reporting / Combined Chairman and Chief Executive Officer role","excerpt":"Our chief operating decision maker (CODM) is the Chairman of the Board and Chief Executive Officer."},{"id":"e33","sourceId":"filing-1","location":"Item 9A / Management conclusion on disclosure controls","excerpt":"Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of May 31, 2026, our disclosure controls and procedures were effective to ensure that information required to be disclosed by us in reports that we file or submit under the 1934 Act is (1) recorded, processed, summarized, and reported within the time periods specified in applicable rules and forms, and (2) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, in a manner that allows timely decisions regarding required disclosure."},{"id":"e34","sourceId":"filing-3","location":"Executive compensation / Fiscal 2026 adjusted operating profit","excerpt":"Adjusted operating profit totaled $2.8 billion representing a decrease of 16% on a constant-currency basis*."},{"id":"e35","sourceId":"filing-2","location":"Non-GAAP measures / First-quarter fiscal 2027 adjusted operating profit reconciliation","excerpt":"30, 2026 Aug. 24, 2025 Change Operating profit as reported $633.6 $1,725.8 (63)% Mark-to-market effects (29.5) 8.5 Valuation loss on held for sale business 23.7 — Transaction costs 4.3 11.8 Acquisition integration costs 1.7 1.4 Restructuring and transformation charges 0.2 18.3 Divestitures gain — (1,054.4) Investment activity, net — (0.2) Adjusted operating profit $634.0 $711.2 (11)% Foreign currency exchange impact Flat Adjusted operating profit growth, on a constant-currency basis (11)% Note: Table may not foot due to rounding."}],"changes":["Retain the previous narrow, eroding moat verdict, supported by verified penetration, volume and category-share disclosures.","Add the latest quarter's flat consolidated organic sales, International volume growth with unfavorable price realization and mix, and further adjusted profit and margin declines.","Assess management using disclosed compensation, ownership rules, governance practices and actual capital outcomes; do not treat strategic aspirations as achievements."],"limitations":["All operating evidence is issuer-supplied. Specific reported outcomes support assessment, but management's causal explanations and competitive-superiority claims are not independent proof.","Competition passages identify generic manufacturers and retailers rather than named direct rivals. Walmart is disclosed as a major customer; companies mentioned in biographies, joint ventures or sustainability comparisons do not establish direct competitive coverage.","Price realization is combined with mix, limiting isolation of pure pricing effects. Customer pricing contracts and repricing rights are absent.","Penetration, shipment volume and share performance provide indirect demand evidence, not measured repeat-purchase rates or contractual switching friction.","Several passages are truncated. No missing table values or sentence completions are assumed.","Source dates are filing dates: July 1, 2026 for filing-1, September 23, 2026 for filing-2, and August 13, 2026 for filing-3. Proxy proposals and draft amendments are not treated as adopted; subsequent voting outcomes are absent.","Ownership requirements are disclosed, but complete executive holdings and realized incentive payouts are not supplied. Reported impairment valuations involve management estimates and do not alone establish franchise failure."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":2,"rationale":"Brands have operating support from penetration, base-volume and category-share improvements, but lower-priced substitutes constrain differentiation. Neither relative cost leadership nor structural customer lock-in is established.","evidenceIds":["e1","e2","e3","e4","e6"]},{"criterion":"durability","grade":2,"rationale":"Recent demand gains support a continuing franchise, while substantial pet goodwill and brand impairments and declining organic sales weaken confidence in its persistence. The evidence does not establish exceptional durability.","evidenceIds":["e2","e4","e9","e12"]},{"criterion":"customer_dependency","grade":1,"rationale":"Consumer demand improved, but interchangeable lower-priced alternatives indicate fragile dependency. Walmart's 22% sales concentration creates dependence on a buyer rather than evidence that buyers depend on General Mills.","evidenceIds":["e4","e6","e8"]},{"criterion":"erosion_resilience","grade":1,"rationale":"Investment helped restore base-volume growth, but impairments and continued adjusted margin and profit declines show limited demonstrated resilience. This assessment uses realized outcomes rather than hypothetical risk factors.","evidenceIds":["e2","e9","e13","e34","e35"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":2,"rationale":"Favorable consolidated price realization and mix partly offset pressure in the latest quarter, and fiscal 2026 International results also benefited. Latest-quarter International price realization and mix was unfavorable. These are mixed observed outcomes; mix prevents isolating price increases.","evidenceIds":["e11","e14","e15","e16"]},{"criterion":"retention","grade":2,"rationale":"Indirect demand evidence includes increased household penetration, improved base volume and International organic volume growth. Flat latest-quarter consolidated organic sales and declining fiscal 2026 organic sales temper those gains. No repeat-purchase rate is disclosed.","evidenceIds":["e2","e4","e12","e14","e17","e18"]},{"criterion":"margin_resilience","grade":1,"rationale":"Latest-quarter adjusted operating margin fell from 15.7% to 14.4%; favorable price realization and mix did not offset input-cost and volume-contribution pressures. Fiscal 2026 adjusted profit also declined. International demand improvements provide partial counterweight, but consolidated resilience remains weak.","evidenceIds":["e10","e11","e13","e15","e16","e34"]},{"criterion":"contractual_freedom","grade":null,"rationale":"Observed pricing outcomes establish pricing activity, but the passages do not disclose customer contract duration, repricing rights or restrictions on changing terms. Buyer concentration alone cannot establish contractual freedom.","evidenceIds":[]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Fiscal 2026 operating cash of about $2.2 billion funded $540 million of capital investment, while $1.8 billion was distributed to shareholders. Large pet impairments and the Brazil valuation loss weaken allocation outcomes. The latest quarter shows no repurchases, but dividends exceeded operating cash after capital spending and net borrowing increased. Outcomes are mixed.","evidenceIds":["e9","e19","e20","e21","e22"]},{"criterion":"incentive_alignment","grade":2,"rationale":"The disclosed program links compensation to sales, profit, cash flow and relative shareholder returns, with multiyear vesting and ownership requirements. However, adjusted measures exclude selected costs, qualifying ownership includes unvested RSUs, and the new COO had not met the ownership requirement. Full holdings and realized payout sensitivity are unavailable.","evidenceIds":["e23","e24","e25","e26","e27","e28"]},{"criterion":"execution","grade":2,"rationale":"Reported penetration, share and base-volume improvements demonstrate progress, assessed through indirect operating evidence. Fiscal 2026 organic sales and adjusted profit declined, followed by another adjusted profit decline in the latest quarter. Execution is mixed rather than established as consistently strong.","evidenceIds":["e2","e3","e4","e12","e34","e35"]},{"criterion":"governance","grade":2,"rationale":"Actual disclosures describe an independent compensation committee, sessions without management, related-person transaction review and effective disclosure controls. The combined Chairman and CEO role concentrates authority. These practices support functioning oversight, but do not establish exceptional effectiveness; proposed charter changes are excluded.","evidenceIds":["e29","e30","e31","e32","e33"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"ee189bbec3c26b7f96061077ee9617edc9c88a965a286ab970dba9d5bdf0f714","updatedAt":"2026-10-18T14:18:18.710Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026046466/gis-20260531.htm","publishedAt":"2026-07-01","sha256":"f876934675dd203577bc4265b98a0c9bd5b60f214eee0eb0819db7f2781e39b2","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026063201/gis-20260830.htm","publishedAt":"2026-09-23","sha256":"598128c32332ec49d4f715325fba79ee3f1d88cd3ce01bfffd82a8c10fa3169f","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026056619/gis-20260810.htm","publishedAt":"2026-08-13","sha256":"383df56dc3ca9eaafc9d8c5eb22f9e250b65e5448adcbb9d253e2b6aeef31c39","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/40704/000119312525147079/d938443d10k.htm","publishedAt":"2025-06-26","sha256":"b560d664b62ea634e8547eb5a1627ac91ad9a8a487f4ded787415223bea3f9e7","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/40704/000119312524168943/d764890d10k.htm","publishedAt":"2024-06-26","sha256":"c2735d42d49fb86357c25f32fbfd6f40fb4921842722944b33513d4578251178","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026019398/gis-20260222.htm","publishedAt":"2026-03-18","sha256":"088e5302a48a3360ff5993aebaca52077352962c44d04ff6961a08f2331bae5b","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:5c138b39a2cd80f2fcd69a1eadfe54d7006dfa69ff153aa1fc8ee1c7c646c428","usage":{"input_tokens":80164,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":3516,"reasoning_output_tokens":123},"basisSupplement":{"previousHash":"e055ababe2c2804c298ed11fc257be7da148debf092eeb12203216ac134aa6e3","checkedAt":"2026-10-18T16:49:32.080Z","rule":"dated historical and missing inputs only; accepted observations and research date retained"}},"signals":[{"period":"2022","end":"2022-05-29","values":{"gross_margin":33.708563245019164,"operating_margin":18.300619182005814,"roic":13.300278796793915,"fcf_margin":14.465481656206562,"sbc_revenue":0.5196706120213976},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2023","end":"2023-05-28","values":{"gross_margin":32.575569069681805,"operating_margin":17.088513103283535,"roic":12.66359567503191,"fcf_margin":10.39653233271292,"sbc_revenue":0.5558817967373669},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2024","end":"2024-05-26","values":{"gross_margin":34.909755655379406,"operating_margin":17.2818927139778,"roic":12.541809527653225,"fcf_margin":12.73341659448462,"sbc_revenue":0.4799266764699957},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2025","end":"2025-05-25","values":{"gross_margin":34.551948518469096,"operating_margin":16.95934642266994,"roic":11.489347473813494,"fcf_margin":11.766547268379297,"sbc_revenue":0.47057978303039016},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2026","end":"2026-05-31","values":{"gross_margin":33.627324338113176,"operating_margin":4.807702745242773,"roic":null,"fcf_margin":8.826785927509958,"sbc_revenue":0.43094558362189683},"issues":{"pe":"Trailing earnings is zero or negative, so this ratio is undefined.","peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic":"NOPAT is undefined under this method: pretax profit must be positive and the effective tax rate must be between 0 and 100%.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026046466/gis-20260531.htm","publishedAt":"2026-07-01","sha256":"f876934675dd203577bc4265b98a0c9bd5b60f214eee0eb0819db7f2781e39b2","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026063201/gis-20260830.htm","publishedAt":"2026-09-23","sha256":"598128c32332ec49d4f715325fba79ee3f1d88cd3ce01bfffd82a8c10fa3169f","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026056619/gis-20260810.htm","publishedAt":"2026-08-13","sha256":"383df56dc3ca9eaafc9d8c5eb22f9e250b65e5448adcbb9d253e2b6aeef31c39","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/40704/000119312525147079/d938443d10k.htm","publishedAt":"2025-06-26","sha256":"b560d664b62ea634e8547eb5a1627ac91ad9a8a487f4ded787415223bea3f9e7","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/40704/000119312524168943/d764890d10k.htm","publishedAt":"2024-06-26","sha256":"c2735d42d49fb86357c25f32fbfd6f40fb4921842722944b33513d4578251178","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/40704/000162828026019398/gis-20260222.htm","publishedAt":"2026-03-18","sha256":"088e5302a48a3360ff5993aebaca52077352962c44d04ff6961a08f2331bae5b","dateKind":"filed"}],"history":[{"version":4,"updatedAt":"2026-10-18T16:49:32.080Z","verdict":"narrow","value":null},{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"narrow","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"narrow","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}