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General Mills Inc (GIS) Fair Value & Analysis

Consumer Defensive · US · Market cap $19.5B · ISIN US3703341046

What is General Mills Inc really worth?

GM General Mills Inc logo General Mills Inc GIS · US
Price$39.26
Fair Value$28.32
Upside−27.9%
Quality54/100

A solid business, but trading 39% above our fair value of $28.32.

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Risks

!Weak Growth (revenue 5y +0.3 %/yr)
!Loss-making · -0.5% net margin
!High debt · generates free cash flow
!Trails peers (4/15)
!Narrow moat 42/100
!Weak on future: 11 out of 100
!Weak on balance sheet: 16 out of 100

For context

·6.19% dividend yield
Evidence: High Range $19.43 – $48.25

Fair value as of: Aug 29, 2026

From 15 valuation models · updated 7 days ago

Share price +8.5% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($19.43 to $48.25) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$78.31 $31.62 Fair Value $28.32 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range $31.62 – $78.31 · fair‑value band $19.43 – $48.25 · the $39.26 price screens above the $28.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

Full chart & analysis →

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Analysis

General Mills Inc (GIS) currently trades at $39.26, while our model-based Fair Value estimate is $28.32, implying the stock looks roughly 38.6% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive sector. Bull case: the Multiples group reads highest at a median of $58.71 per share, and 3 of the 15 models we run sit above the $39.26 price. Bear case: the Asset-Based group reads lowest at $9.25, and 12 of the 15 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, General Mills Inc generated revenue of $18.4B at a net margin of 12.1%. Revenue grew 2.2% year over year. It earns a return on equity of 23.6%. Net debt stands at $13.1B. Fundamentals as of Aug 29, 2026

Our scenario range runs from $19.43 (bear case) to $48.25 (bull case); at $39.26, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −25% fair-value upside, at −28%, GIS screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 3 months have passed since. In that time the company retained roughly $0.4366 per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $9.59 $23.00 $41.82 76
Growth DCF $10.61 $23.24 $40.28 75
EPV $19.71 $26.74 $32.88 74
All 15 models by family
DCF Models
FCF DCF $9.59 $23.00 $41.82 76
5Y Revenue Exit $10.77 $27.95 $48.95 69
5Y EBITDA Exit $22.93 $49.31 $78.57 73
10Y Revenue Exit $9.01 $24.19 $42.63 63
10Y EBITDA Exit $17.60 $38.54 $63.98 66
Earnings-Based
EPV $19.71 $26.74 $32.88 74
Dividend Discount
Gordon GGM $22.63 $35.31 $49.20 68
DDM Multi-Stage $22.63 $32.64 $43.96 67
Multiples
EV/EBIT $43.88 $65.98 $88.08 65
EV/EBITDA $38.43 $58.71 $78.99 66
EV/Revenue $13.83 $29.37 $44.90 51
Asset-Based
NCAV (Graham) $6.90 $9.25 $13.81 54
Growth DCF
Growth DCF $10.61 $23.24 $40.28 75
Rev-Margin DCF $10.77 $28.31 $46.75 69
Economic Profit
ROIC Compounder $20.45 $29.87 $40.35 71

Widest divergence: Multiples ($58.71) versus Asset-Based ($9.25). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 7.9 as of Jun 5, 2026
P/S ratio 0.93 TTM
EPS (TTM) $−0.1600 price ÷ EPS = P/E 7.9
Dividend yield 6.2%
Net margin −0.5% FY2026
Return on equity −1.0% TTM
More key figures
Profitability
Return on assets (EBIT) 10.4% avg 5y
Operating margin 19.2% TTM
Growth
Revenue (TTM) $18.4B TTM
Revenue growth (YoY) +2.2% 3y avg −2.9%
EPS growth (YoY) −14.5%
Balance sheet & cash flow
Free cash flow $1.6B FY2026
Net debt $13.1B FY2026 · ≈ 8.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 49 · Market factors (momentum, volatility) 50

Profitability 24
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 99
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

General Mills, Inc. manufactures and markets branded consumer foods in the United States and internationally. The company operates through four segments: North America Retail; International; North America Pet; and North America Foodservice.

Full company description

General Mills, Inc. manufactures and markets branded consumer foods in the United States and internationally. The company operates through four segments: North America Retail; International; North America Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables. The company also manufactures and markets pet food products, including dog and cat food; and operates ice cream parlors. It markets its products under the Annies, Betty Crocker, Bisquick, Blue Buffalo, Bugles, Cascadian Farm, Cheerios, Chex, Cinnamon Toast Crunch, Cocoa Puffs, Cookie Crisp, Dunkaroos, Edgard & Cooper, Fiber One, By The Foot, Gushers, Roll-Ups, Gardettos, Gold Medal, Golden Grahams, Häagen-Dazs, Kitano, Kix, Lärabar, Latina, Lucky Charms, As Well As Muir Glen, Nature Valley, Nudges, Oatmeal Crisp, Old El Paso, Pillsbury, Progresso, Tastefuls, Tiki Pets, Total, Totinos, Trix, True Chews, True Solutions, Wanchai Ferry, Wheaties, Wilderness, and Yoki brands. In addition, the company sells its products to grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, e-commerce retailers, commercial and noncommercial foodservice distributors and operators, restaurants, convenience stores, and pet specialty stores. The company was founded in 1866 and is headquartered in Minneapolis, Minnesota.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

General Mills Inc reported revenue of $18.4B in FY2026 versus $19.0B in FY2022, a compound −0.8%/yr. Reported net income was −$87.6M in FY2026.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
$18.4B
Latest YoY
−5.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−2.9%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.3%
Avg. revenue growth/yr (42Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Revenue −0.8%/yr
FY22 $19.0B
FY23 $20.1B
FY24 $19.9B
FY25 $19.5B
FY26 $18.4B
Net income
FY22 $2.7B
FY23 $2.6B
FY24 $2.5B
FY25 $2.3B
FY26 −$87.6M
Character of growth · EPS growth decomposed (2015-2026) +6.3 % p.a.
Revenue per share +2.8 %

of which total revenue +2.0 % · buybacks/dilution +0.8 %

EBIT margin +1.9 %
Tax rate +1.7 %
Residual (interest, one-offs) −0.2 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

GIS screens 39% overvalued. Compare with Nestlé S.A →

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Cite: Fair Value Calculator (2026). "General Mills Inc Fair Value". https://www.fairvalue-calculator.com/stock/GIS

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Packaged Foods · 648 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 54 · Below median
Fair Value upside −28% · Below median
Return on assets 6% · Above median
Net margin (TTM) 0% · Bottom 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 1.69× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 7.9× · Cheaper than 75% of peers
P/B 2.65× · Pricier than 75% of peers
P/S (TTM) 1.06× · Pricier than median
P/FCF 12.0× · Pricier than 75% of peers
EV/EBITDA 9.1× · Pricier than median
PEG 11.74× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 25
FUTURE11 · sector 21
PAST0 · sector 28
HEALTH16 · sector 96
DIVIDEND100 · sector 53

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).

Stock Price Fair Value vs Fair Value
Nestlé S.A NESN CHF 78.62 CHF 57.26 −27%
Danone S.A BN €64.28 €48.41 −25%
Nestlé India Limited NESTLEIND ₹1,478 ₹251.94 −83%
The Kraft Heinz Company KHC $25.13 $24.59 −2%
Foshan Haitian Flavouring and Food Company 603288 ¥35.05 ¥21.93 −37%
Inner Mongolia Yili Industrial Group 600887 ¥25.51 ¥32.50 +27%
Yihai Kerry Arawana Holdings 300999 ¥25.28 ¥9.89 −61%
Wilmar International Limited F34 3.64 SGD 3.89 SGD +7%
Britannia Industries Limited BRITANNIA ₹5,511 ₹1,765 −68%
McCormick & Company MKCV $55.65 $43.29 −22%

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Frequently asked questions

Is General Mills Inc (GIS) overvalued or undervalued?
As of Aug 29, 2026, our model estimates a fair value of $28.32 versus a price of $39.26, about −28% upside (overvalued).
What is the fair value of GIS?
Our model-based fair value for General Mills Inc is $28.32 (as of Aug 29, 2026), built from audited fundamentals. The current price: $39.26.
What is the quality score of GIS?
General Mills Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of General Mills Inc (GIS)?
General Mills Inc reported trailing-twelve-month revenue of about $18.4B (latest available figure, as of Aug 29, 2026).
What is the net profit margin of GIS?
The net profit margin of General Mills Inc is about 12.1%, meaning it keeps roughly 12.1% of revenue as net income. Based on the latest reported figures.
Does General Mills Inc pay a dividend?
General Mills Inc currently shows a dividend yield of about 6.19% relative to its recent price (as of Aug 29, 2026).
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