GENERAL MILLS INC

GIS · Grain Mill Products · 533.7M shares · -0%/yr ↓ buyback · EDGAR filings ↗

Net buyback after stock comp: $1.3B (gross $1.4B, SBC $112M)

Reference price $33.97 · est. market cap ~$18.1B — last insider sale, 2026-05-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B76

Wide-moat packaged-foods franchise with top-quartile returns and elite cash generation, but stuck in a multi-quarter sales decline.

Strengths

Top-decile-adjacent FCF ($2.3B, 94.8th pct) and strong returns (ROE 24.9% 82nd pct, ROA 6.9% 82nd pct, operating margin 17% 80.5th pct)
Durable iconic brands, scale, and 97% FCF conversion funding dividend plus buybacks

Risks

Negative organic growth (revenue -1.9% 26.9th pct, net income -8%) with FY2026 guidance still soft amid value-seeking consumers
Walmart 22% of sales concentration; thin liquidity (current ratio 0.67, 15th pct) and commodity/private-label pressure

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Weak liquidityCurrent ratio 0.67 (<1)
Strong balance sheetStrong balance sheet — $364M cash & investments
Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$958,195, last 6mo) Form 4 ↗

Quarterly revenue

2025-05-25 · $4.6B2025-08-24 · $4.5B2025-11-23 · $4.9B2026-02-22 · $4.4B

Last 4 quarters · from SEC filings.

Key metrics

Gross margin

34.6%

Operating margin

17.0%

Net margin

11.8%

Return on equity

24.9%

Return on assets

6.9%

Revenue growth (QoQ)

-8.7%

Net-income growth

-8.1%

Interest coverage

6.3×

Current ratio

0.7×

Free cash flow

$2.3B

EBITDA

$3.8B

Tangible book value

-$13.5B

Cash & investments

$364M

Stock comp / revenue

0.5%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-05	Montemayor Jaime	Grant	75K	—
2026-06-05	Fernandez Ricardo	Grant	15K	—
2026-06-05	Bruce Kofi A	Grant	106K	—
2026-06-05	Mascolo Elizabeth	Grant	15K	—
2026-06-05	Williams-Roll Jacqueline	Grant	39K	—
2026-06-05	THISSEN KAREN WILSON	Grant	51K	—
2026-05-31	HENRY MARIA	Grant	1.0K	$33.65
2026-05-31	MORIKIS JOHN G	Grant	780	$33.65
2026-05-31	Uribe Jorge A.	Grant	891	$33.65
2026-05-31	Uribe Jorge A.	Tax withheld	190	$33.65
2026-05-13	Williams-Roll Jacqueline	Sell	10K	$33.97
2026-05-12	Fernandez Ricardo	Sell	8.0K	$34.50
2026-05-12	Williams-Roll Jacqueline	Sell	10K	$34.27
2026-02-22	Uribe Jorge A.	Grant	661	$45.36
2026-02-22	MORIKIS JOHN G	Grant	578	$45.36
2026-02-22	HENRY MARIA	Grant	744	$45.36
2026-01-27	Bottarini Joan	Grant	4.0K	—
2026-01-08	McNabb Dana M	Tax withheld	678	$43.92
2026-01-06	Gallagher Paul Joseph	Grant	11K	—
2025-12-19	Gallagher Paul Joseph	Sell	1.5K	$48.15
2025-11-23	Uribe Jorge A.	Grant	629	$47.63
2025-11-23	Uribe Jorge A.	Tax withheld	134	$47.63
2025-11-23	MORIKIS JOHN G	Grant	551	$47.63
2025-11-23	HENRY MARIA	Grant	708	$47.63
2025-11-17	Mascolo Elizabeth	Tax withheld	128	$46.97
2025-11-17	Sharma Pankaj MN	Tax withheld	170	$46.97
2025-11-15	Mascolo Elizabeth	Tax withheld	185	$47.41
2025-11-01	HARMENING JEFFREY L	Tax withheld	5.2K	$46.61
2025-09-30	HENRY MARIA	Grant	3.6K	—
2025-09-30	Jenkins Jo Ann	Grant	3.6K	—
2025-09-30	Lempres Elizabeth Cahill	Grant	3.6K	—
2025-09-30	MORIKIS JOHN G	Grant	3.6K	—
2025-09-30	NEAL DIANE L	Grant	3.6K	—
2025-09-30	ODLAND STEPHEN A	Grant	3.6K	—
2025-09-30	Uribe Jorge A.	Grant	3.6K	—
2025-09-30	Uribe Jorge A.	Tax withheld	344	$50.42
2025-09-30	SPRUNK ERIC D	Grant	3.6K	—
2025-09-30	Williams-Roll Jacqueline	Gift	29K	—
2025-09-30	Williams-Roll Jacqueline	Gift	29K	—
2025-09-30	SASTRE MARIA	Grant	3.6K	—
2025-09-30	Dorer Benno O	Grant	3.6K	—
2025-09-19	Williams-Roll Jacqueline	Sell	4.0K	$50.04
2025-09-09	Saksena Asheesh	Tax withheld	386	$50.35
2025-08-24	MORIKIS JOHN G	Grant	528	$49.64
2025-08-24	Uribe Jorge A.	Tax withheld	129	$49.64
2025-08-24	Uribe Jorge A.	Grant	604	$49.64
2025-08-24	HENRY MARIA	Grant	679	$49.64
2025-07-09	Williams-Roll Jacqueline	Gift	337	—
2025-07-09	Williams-Roll Jacqueline	Gift	337	—
2025-07-01	Williams-Roll Jacqueline	Tax withheld	134	$53.19
2025-06-30	Montemayor Jaime	Grant	13K	—
2025-06-30	Williams-Roll Jacqueline	Grant	6.3K	—
2025-06-30	Williams-Roll Jacqueline	Tax withheld	230	$51.81
2025-06-30	Shaffer Werner Lanette	Grant	4.6K	—
2025-06-30	THISSEN KAREN WILSON	Grant	8.2K	—
2025-06-30	Sharma Pankaj MN	Grant	4.6K	—
2025-06-30	Saksena Asheesh	Grant	8.2K	—
2025-06-30	Pallot Mark A	Grant	1.4K	—
2025-06-30	Nudi Jonathon	Grant	1.1K	—
2025-06-30	Montemayor Jaime	Tax withheld	726	$51.81
2025-06-30	McNabb Dana M	Grant	14K	—
2025-06-30	Mascolo Elizabeth	Grant	4.6K	—
2025-06-30	Mascolo Elizabeth	Tax withheld	218	$51.81
2025-06-30	HARMENING JEFFREY L	Grant	48K	—
2025-06-30	HARMENING JEFFREY L	Tax withheld	3.6K	$51.81
2025-06-30	Gallagher Paul Joseph	Grant	4.6K	—
2025-06-30	Fernandez Ricardo	Grant	4.6K	—
2025-06-30	Fernandez Ricardo	Tax withheld	218	$51.81
2025-06-30	Bruce Kofi A	Grant	14K	—
2025-06-29	McNabb Dana M	Tax withheld	1.6K	$50.52
2025-06-29	Montemayor Jaime	Tax withheld	2.3K	$50.52
2025-06-29	Gallagher Paul Joseph	Tax withheld	1.2K	$50.52
2025-06-29	Sharma Pankaj MN	Tax withheld	1.3K	$50.52
2025-06-29	Williams-Roll Jacqueline	Tax withheld	854	$50.52
2025-06-29	Mascolo Elizabeth	Tax withheld	528	$50.52
2025-06-29	Fernandez Ricardo	Tax withheld	1.3K	$50.52
2025-06-29	Nudi Jonathon	Tax withheld	566	$50.52
2025-06-28	Shaffer Werner Lanette	Tax withheld	844	$50.52
2025-06-28	HARMENING JEFFREY L	Tax withheld	28K	$50.52
2025-06-28	Gallagher Paul Joseph	Tax withheld	2.3K	$50.52
2025-06-28	Williams-Roll Jacqueline	Tax withheld	1.9K	$50.52
2025-06-28	Fernandez Ricardo	Tax withheld	2.0K	$50.52
2025-06-28	Nudi Jonathon	Tax withheld	7.4K	$50.52
2025-06-28	Bruce Kofi A	Tax withheld	7.5K	$50.52
2025-06-28	Nudi Jonathon	Tax withheld	780	$50.52
2025-06-28	Montemayor Jaime	Tax withheld	5.7K	$50.52
2025-06-28	Sharma Pankaj MN	Tax withheld	1.6K	$50.52
2025-06-28	Pallot Mark A	Tax withheld	804	$50.52
2025-06-28	McNabb Dana M	Tax withheld	2.9K	$50.52
2025-06-28	THISSEN KAREN WILSON	Tax withheld	4.1K	$50.52
2025-06-28	Mascolo Elizabeth	Tax withheld	1.0K	$50.52
2025-06-23	Nudi Jonathon	Grant	1.9K	—
2025-06-23	THISSEN KAREN WILSON	Grant	8.9K	—
2025-06-23	Williams-Roll Jacqueline	Grant	7.0K	—
2025-06-23	Sharma Pankaj MN	Grant	3.8K	—
2025-06-23	Shaffer Werner Lanette	Grant	2.0K	—
2025-06-23	Pallot Mark A	Grant	1.9K	—
2025-06-23	Nudi Jonathon	Grant	15K	—
2025-06-23	Montemayor Jaime	Grant	11K	—
2025-06-23	McNabb Dana M	Grant	7.0K	—
2025-06-23	Mascolo Elizabeth	Grant	1.7K	—
2025-06-23	HARMENING JEFFREY L	Grant	55K	—
2025-06-23	Gallagher Paul Joseph	Grant	5.4K	—
2025-06-23	Fernandez Ricardo	Grant	3.8K	—
2025-06-23	Bruce Kofi A	Grant	15K	—
2025-05-25	HENRY MARIA	Grant	632	$53.36
2025-05-25	Uribe Jorge A.	Grant	562	$53.36
2025-05-25	Uribe Jorge A.	Tax withheld	120	$53.36
2025-05-25	MORIKIS JOHN G	Grant	491	$53.36
2025-05-15	Sharma Pankaj MN	Sell	3.6K	$54.12
2025-03-07	HARMENING JEFFREY L	Option exercise	11K	$55.72
2025-03-07	HARMENING JEFFREY L	Sell	11K	$65.00
2025-02-23	HENRY MARIA	Grant	581	$57.99
2025-02-23	Uribe Jorge A.	Grant	517	$57.99
2025-02-23	MORIKIS JOHN G	Grant	452	$57.99
2025-01-08	McNabb Dana M	Tax withheld	714	$60.97

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (1)

Walmart 22% of rev

Suppliers (0)

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-05-06	Exec/director changeExhibits	filing ↗
2026-05-04	Exec/director change	filing ↗
2026-04-16	OtherExhibits	filing ↗
2026-03-18	ResultsExhibits	filing ↗
2026-01-27	Exec/director change5.03Exhibits	filing ↗
2025-12-17	ResultsExhibits	filing ↗
2025-10-03	Shareholder vote	filing ↗
2025-10-01	2.05	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-05-06	2026-05-04	0001628280-26-031456 ↗
8-K	2026-05-04	2026-05-04	0001628280-26-029930 ↗
8-K	2026-04-16	2026-04-16	0000040704-26-000004 ↗
10-Q	2026-03-18	2026-02-22	0001628280-26-019398 ↗
8-K	2026-03-18	2026-03-18	0001628280-26-019020 ↗
8-K	2026-01-27	2026-01-26	0001628280-26-003542 ↗
8-K	2025-12-17	2025-12-17	0001628280-25-057486 ↗
10-Q	2025-12-17	2025-11-23	0001628280-25-057598 ↗
8-K	2025-10-03	2025-09-30	0001193125-25-230114 ↗
8-K	2025-10-01	2025-09-25	0001193125-25-225852 ↗
10-Q	2025-09-17	2025-08-24	0001193125-25-206304 ↗
8-K	2025-09-17	2025-09-17	0001193125-25-205477 ↗