General Mills (GIS)
Forward P/E is 10.69x against a peer median of 13.57x, a ratio of 0.79x — below the 0.90 undervalued threshold — with trailing P/E and PEG not reported (shown as n/a on the statistics page). Latest-quarter revenue fell 2.8% year over year (PRIMARY, EDGAR), so the value-trap check applies: a shrinking top line keeps the label at FAIRLY PRICED rather than UNDERVALUED. Delivered demand check: the packaged foods, meats & agriculture group's median growth was 5.8% year over year — demand steady across the group, while General Mills itself is shrinking.
What would change this label: Move to UNDERVALUED if revenue growth turns positive year over year for two quarters while the forward P/E stays at or below about 12.2x (0.90x the peer median). Move to OVERVALUED if the forward P/E rises above about 15.6x (1.15x the peer median) while revenue is still shrinking.
General Mills makes familiar packaged foods and pet food. Its shares look cheap next to similar food companies, but its sales are shrinking while rivals grow. Until sales turn back up, the low price looks fair rather than a bargain.
Both lines start at 100 on 2020-09-01. Over the full window General Mills returned -46.97% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for General Mills: -65.0% (2023-05-12 to 2026-10-01). Source: Nasdaq official daily history.
What the label rests on
Forward P/E is 10.69x against a peer median of 13.57x, a ratio of 0.79x — below the 0.90 undervalued threshold — with trailing P/E and PEG not reported (shown as n/a on the statistics page). Latest-quarter revenue fell 2.8% year over year (PRIMARY, EDGAR), so the value-trap check applies: a shrinking top line keeps the label at FAIRLY PRICED rather than UNDERVALUED. Delivered demand check: the packaged foods, meats & agriculture group's median growth was 5.8% year over year — demand steady across the group, while General Mills itself is shrinking. The company’s forward P/E is 10.7× against a peer median of 13.6×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the packaged foods, meats & agriculture group's median latest-quarter revenue growth was 5.8% year over year (SEC filings) — demand steady. General Mills fell 2.8%, well behind that pace. Latest-quarter sales growth was -2.8% versus a year earlier (SEC filings).
| Company | Price (Oct 28, 2026) | Forward P/E | Trailing P/E |
|---|---|---|---|
| General Mills (GIS) | $33.16 | 10.7× | — |
| BG | $101.10 | 9.7× | 19.7× |
| TSN | $55.62 | 16.0× | 34.4× |
| SJM | $125.24 | 12.4× | 58.3× |
| MKC | $45.98 | 14.9× | 8.3× |
| HRL | $20.68 | 13.6× | 33.3× |
| Peer median | 13.6× |
Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.
Sales, profit and cash
Gross margin = gross profit divided by sales, from SEC filings.
Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.
| Quarter | Sales | Gross margin | Net income | EPS (GAAP, diluted) | Free cash flow |
|---|---|---|---|---|---|
| Q/E Aug 2026 2026-08-30 | $4.4B | — | $397M | 0.74 | $207M |
| Q/E May 2026 2026-05-31 | $4.6B | 34.8% | $-2.0B | -3.74 | $368M |
| Q/E Feb 2026 2026-02-22 | $4.4B | 30.8% | $303M | 0.56 | $296M |
| Q/E Nov 2025 2025-11-23 | $4.9B | 34.8% | $413M | 0.78 | $676M |
| Q/E Aug 2025 2025-08-24 | $4.5B | 33.9% | $1.2B | 2.22 | $288M |
| Q/E May 2025 2025-05-25 | $4.6B | 32.4% | $294M | 0.53 | $391M |
| Q/E Feb 2025 2025-02-23 | $4.8B | 33.9% | $626M | 1.12 | $428M |
| Q/E Nov 2024 2024-11-24 | $5.2B | 36.9% | $796M | 1.42 | $990M |
| Q/E Aug 2024 2024-08-25 | $4.8B | 34.8% | $580M | 1.03 | $484M |
| Q/E May 2024 2024-05-26 | $4.7B | 35.8% | $558M | 0.98 | $575M |
| Q/E Feb 2024 2024-02-25 | $5.1B | 33.5% | $670M | 1.17 | $751M |
| Q/E Nov 2023 2023-11-26 | $5.1B | 34.4% | $596M | 1.02 | $966M |
The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.
Earnings: getting better or worse?
Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.
Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.
Key facts
| Item | Value |
|---|---|
| Company (legal name in filings) | GENERAL MILLS INC |
| Chief executive | Jeff Harmening (source: https://www.generalmills.com/news-and-stories/press-releases/general-mills-announces-dana-mcnabb-as-chief-executive-officer) |
| Sector | Consumer Staples — Packaged Foods & Meats — sells cereals, packaged meals, snacks, baking products and pet food |
| Share price (Oct 28, 2026) | $33.16 |
| Market value (market cap) | $17.9B — share price times shares outstanding of 534,687,144 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest)) |
| Sales, last twelve months | $18.3B |
| Net income, last twelve months | $-895M |
| Free cash flow, last twelve months | $1.5B |
| Latest reported quarter | Q/E Aug 2026 (of 24 quarters in the data pack) |
| Six-year price return vs S&P 500 | -46.97% vs +118.28% |
| Worst peak-to-trough fall | -65.0% (2023-05-12 to 2026-10-01) |
What we could not verify
- Gross profit / gross margin: not tagged as a standalone line in this company's EDGAR company facts (common for banks, payment networks and some healthcare payers) — shown as UNVERIFIED-absent; the page charts revenue and net income instead.
- Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
- PE Ratio and PEG Ratio shown as n/a on statistics page
- CEO transition announced Sep 30, 2026: Dana McNabb to succeed Jeff Harmening effective Jan 1, 2027; Harmening is current CEO as of Oct 28, 2026
- Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.
The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.
Sources
- SEC EDGAR submissions — Filing index; company legal name.
https://data.sec.gov/submissions/CIK0000040704.json - SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares.
https://data.sec.gov/api/xbrl/companyfacts/CIK0000040704.json - Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates.
https://api.nasdaq.com/api/quote/GIS/historical?assetclass=stocks - Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.
Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.