General Mills
General Mills returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2027 Q1 | Aug 30, 2026 | — | -0.85% | — | -10.55% | -2.83% | — |
| FY 2026 Q4 | May 31, 2026 | — | 3.66% | — | -1.06% | -0.28% | — |
| FY 2026 Q3 | Feb 22, 2026 | 11.58% | 14.35% | — | 23.8% | 6.8% | 3.9 pp |
| FY 2026 Q2 | Nov 23, 2025 | 13.45% | 15.33% | 12.37% | 27.4% | 7.69% | 5.8 pp |
| FY 2026 Q1 | Aug 24, 2025 | 14.4% | 16.95% | 99.82% | 31.09% | 9.01% | 6.7 pp |
| FY 2025 Q4 | May 25, 2025 | 11.49% | 13.31% | -7.79% | 24.69% | 7.11% | 3.8 pp |
| FY 2025 Q3 | Feb 23, 2025 | 12.72% | 14.72% | 3.26% | 27.37% | 8.05% | 5 pp |
| FY 2025 Q2 | Nov 24, 2024 | 13.26% | 14.78% | — | 28.02% | 8.06% | 5.6 pp |
| FY 2025 Q1 | Aug 25, 2024 | 11.96% | 13.68% | 37.33% | 24.6% | 7.62% | 4.3 pp |
| FY 2024 Q4 | May 26, 2024 | 12.54% | 14.19% | -1.89% | 25.16% | 7.94% | 4.8 pp |
| FY 2024 Q3 | Feb 25, 2024 | 12.99% | 15.23% | -107.01% | 25.97% | 8.23% | 5.3 pp |
| FY 2024 Q2 | Nov 26, 2023 | 12.35% | 14.48% | -173.47% | 24.99% | 7.79% | 4.6 pp |
| FY 2024 Q1 | Aug 27, 2023 | 12% | 14.02% | -75.72% | 23.49% | 7.84% | 4.3 pp |
| FY 2023 Q4 | May 28, 2023 | 12.66% | 14.62% | — | 24.71% | 8.29% | 5 pp |
| FY 2023 Q3 | Feb 26, 2023 | 13.85% | 15.76% | — | 27.95% | 8.99% | 6.1 pp |
| FY 2023 Q2 | Nov 27, 2022 | 14.2% | 15.89% | 5,616.22% | 29.61% | 9.12% | 6.5 pp |
| FY 2023 Q1 | Aug 28, 2022 | 13.79% | 15.92% | — | 28.62% | 9.14% | 6.1 pp |
| FY 2022 Q4 | May 29, 2022 | 13.3% | 14.9% | 40.51% | 27.06% | 8.6% | 5.6 pp |
| FY 2022 Q3 | Feb 27, 2022 | 11.47% | 12.7% | -24.8% | 24.61% | 7.21% | 3.8 pp |
| FY 2022 Q2 | Nov 28, 2021 | 11.33% | 12.45% | -16.6% | 24.75% | 6.9% | 3.6 pp |
| FY 2022 Q1 | Aug 29, 2021 | 11.43% | 13.11% | -2.55% | 25.67% | 7.32% | 3.7 pp |
| FY 2021 Q4 | May 30, 2021 | 11.94% | 13.41% | 6.64% | 26.7% | 7.47% | 4.2 pp |
| FY 2021 Q3 | Feb 28, 2021 | 13.11% | 14.7% | — | 30.96% | 8.1% | 5.4 pp |
| FY 2021 Q2 | Nov 29, 2020 | 12.35% | 13.85% | — | 29.6% | 7.67% | 4.7 pp |
| FY 2021 Q1 | Aug 30, 2020 | 11.83% | 13.37% | — | 29.06% | 7.47% | 4.1 pp |
| FY 2020 Q4 | May 31, 2020 | 11.57% | 12.75% | — | 28.87% | 7.16% | 3.9 pp |
| FY 2020 Q3 | Feb 23, 2020 | 11.9% | 12.26% | — | 29.31% | 7.02% | 4.2 pp |
| FY 2020 Q2 | Nov 24, 2019 | 11.89% | 12.31% | — | 29.5% | 6.96% | 4.2 pp |
| FY 2020 Q1 | Aug 25, 2019 | 10.83% | 11.02% | — | 27.65% | 6.18% | 3.1 pp |
| FY 2019 Q4 | May 26, 2019 | 9.56% | 10.87% | — | 26.56% | 5.77% | 1.9 pp |
| FY 2019 Q3 | Feb 24, 2019 | 10.42% | 12.17% | -7.32% | 25.84% | 5.85% | 2.7 pp |
| FY 2019 Q2 | Nov 25, 2018 | — | 11.53% | — | 37.34% | 7.73% | — |
| FY 2019 Q1 | Aug 26, 2018 | — | 12.52% | — | 41.83% | 8.03% | — |
| FY 2018 Q4 | May 27, 2018 | 13.83% | 12.62% | 7.24% | 40.71% | 8.13% | 6.1 pp |
| FY 2018 Q3 | Feb 25, 2018 | 17.82% | 16.01% | 79.46% | 48.41% | 9.95% | 10.1 pp |
| FY 2018 Q2 | Nov 26, 2017 | 13.31% | 15.57% | -17.58% | 38.09% | 7.32% | 5.6 pp |
| FY 2018 Q1 | Aug 27, 2017 | 13.47% | 15.42% | -18.12% | 37.52% | 7.49% | 5.8 pp |
| FY 2017 Q4 | May 28, 2017 | 13.85% | 15.47% | -7.19% | 35.81% | 7.62% | 6.1 pp |
| FY 2017 Q3 | Feb 26, 2017 | — | 15.41% | — | 36.38% | 7.52% | — |
| FY 2017 Q2 | Nov 27, 2016 | — | 15.84% | — | 36.36% | 7.56% | — |
| FY 2017 Q1 | Aug 28, 2016 | — | 15.84% | — | 34.08% | 7.59% | — |
| FY 2016 Q4 | May 29, 2016 | 13.62% | 16.03% | — | 34.2% | 7.77% | 5.9 pp |
| FY 2016 Q3 | Feb 28, 2016 | — | 15.72% | — | 29.13% | 6.68% | — |
| FY 2016 Q2 | Nov 29, 2015 | — | 14.68% | — | 28.39% | 6.49% | — |
| FY 2016 Q1 | Aug 30, 2015 | — | 12.73% | — | 23.36% | 5.7% | — |
| FY 2015 Q4 | May 31, 2015 | 9.49% | 11.94% | — | 21.18% | 5.41% | 1.8 pp |
| FY 2015 Q3 | Feb 22, 2015 | — | 13.38% | — | 24.5% | 6.22% | — |
| FY 2015 Q2 | Nov 23, 2014 | — | 13.61% | — | 24.48% | 6.36% | — |
| FY 2015 Q1 | Aug 24, 2014 | — | 15.86% | — | 26.26% | 7.39% | — |
| FY 2014 Q4 | May 25, 2014 | 13.48% | 16.86% | -7.83% | 27.63% | 7.97% | 5.8 pp |
| FY 2014 Q3 | Feb 23, 2014 | — | 15.65% | — | 26.81% | 7.81% | — |
| FY 2014 Q2 | Nov 24, 2013 | — | 16.1% | — | 26.05% | 7.7% | — |
| FY 2014 Q1 | Aug 25, 2013 | — | 16.44% | — | 26.22% | 7.75% | — |
| FY 2013 Q4 | May 26, 2013 | 14.31% | 16.48% | 53.99% | 28.34% | 8.48% | 6.6 pp |
| FY 2013 Q3 | Feb 24, 2013 | — | 15.45% | — | 26.03% | 8.2% | — |
| FY 2013 Q2 | Nov 25, 2012 | — | 16.79% | — | 26.66% | 8.14% | — |
| FY 2013 Q1 | Aug 26, 2012 | — | 16.06% | — | 26.03% | 7.68% | — |
| FY 2012 Q4 | May 27, 2012 | 13.02% | 15.88% | -21.87% | 24.51% | 7.88% | 5.3 pp |
| FY 2012 Q3 | Feb 26, 2012 | — | 16.33% | — | 24.43% | 7.87% | — |
| FY 2012 Q2 | Nov 27, 2011 | — | 16.45% | — | 25.58% | 7.84% | — |
| FY 2012 Q1 | Aug 28, 2011 | 14.1% | 17.05% | 4.76% | 29.8% | 8.64% | 6.4 pp |
| FY 2011 Q4 | May 29, 2011 | 16.07% | 19.18% | 17.34% | 30.56% | 9.89% | 8.4 pp |
| FY 2011 Q3 | Feb 27, 2011 | 15.3% | 18.7% | — | 27.94% | 9.26% | 7.6 pp |
| FY 2011 Q2 | Nov 28, 2010 | 14.72% | 17.6% | — | 27.8% | 8.83% | 7 pp |
| FY 2011 Q1 | Aug 29, 2010 | 14.52% | 18.7% | — | 30.08% | 8.69% | 6.8 pp |
| FY 2010 Q4 | May 30, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Feb 28, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Nov 29, 2009 | — | — | — | — | — | — |
| FY 2010 Q1 | Aug 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · GIS, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.