Company file · GIS

General Mills

International was General Mills' fastest-growing segment in FY2026, up 8.8%

Revenue fell 5.4% to $18.4B in FY2026, from $19.5B in FY2025. It posted a net loss of $88M. North America Retail was the largest segment, at 57% of revenue.

Prepared from SEC filings · Latest annual report: 10-K for FY2026 (filed Jul 1, 2026) · Latest quarter: 10-Q for the quarter ended Aug 30, 2026 (filed Sep 23, 2026) · Data pulled Nov 11, 2026

Key facts

General Mills (NYSE: GIS) closed fiscal 2026 on May 31, 2026 with revenue of $18.4B, down 5.4% from a year before; net income came to −$88M, compared with $2.3B. Its newest quarterly report covers the three months to Aug 30, 2026: revenue of $4.4B, down 2.8% on the same stretch of the prior year, and net income of $397M. Broken down by segment, North America Retail led with 57% of fiscal 2026 revenue. Sources: 10-K for fiscal 2026 (filed Jul 1, 2026) and 10-Q for the quarter ended Aug 30, 2026 (filed Sep 23, 2026).

Revenue$18.4BFY2026 · −5.4% vs FY2025

Net income−$88MFY2026 · vs $2.3B in FY2025

Operating cash flow$2.2BFY2026 · −25.8% vs FY2025

Cash & equivalents$433Mat Aug 30, 2026 · −4.6% vs FY2026 end

Total debt$13.5BFY2026 end · −9.0% vs FY2025

Diluted shares538MFY2026 avg · −3.6% vs FY2025

Revenue and net income, three fiscal yearsBy fiscal year, $bn

RevenueNet income

Source: 10-K FY2026, filed Jul 1, 2026

Quarterly revenue: fiscal 2027 vs a year earlierFiscal Q1, $bn (each quarter from that quarter's 10-Q)

FY2026FY2027

Source: 10-Q filed Sep 23, 2026

How it makes money

By segment, FY2026

LineAmountSharevs FY2025
North America Retail$10.6B57%−11.2%
International$3.0B17%+8.8%
North America Pet$2.6B14%+5.8%
North America Foodservice$2.2B12%−5.7%

Source: 10-K FY2026, XBRL breakdown

By segment in FY2026: North America Retail (57%), International (17%), North America Pet (14%) and North America Foodservice (12%), as shares of total revenue. Total revenue was $18.4B.

By segment: three-year mixShare of the total each fiscal year

FY2024

63%14%12%11%

FY2025

61%14%13%12%

FY2026

57%17%14%12%

North America RetailInternationalNorth America PetNorth America Foodservice

Source: 10-K FY2026

By product or service, FY2026

Snacks$4.1B22%−1.2%

Cereal$3.1B17%+0.4%

Convenient meals$2.9B16%+1.9%

Pet$2.8B15%+7.0%

Dough$2.4B13%+0.5%

Baking mixes and ingredients$1.9B10%−0.7%

Super-premium ice cream$783M4%+8.5%

Other Product$352M2%−7.6%

Yogurt$102M1%−92.7%

Share is of the FY2026 total; the last column is the change from FY2025.

Learn more: Revenue vs. net income · Gross, operating and net margin

What changed last quarter

How the quarter compared with a year earlier

Comparing Q1 FY2027 (Jun to Aug 2026) compared with Q1 FY2026 (Jun to Aug 2025)

Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.

Q1 FY2027Q1 FY2026

Company

Revenue

$4.4B Q1 FY2027

$4.5B Q1 FY2026

2.8% decrease

Net income

$397M Q1 FY2027

$1.2B Q1 FY2026

67.0% decrease

Source: General Mills 10-Q for the quarter ended Aug 30, 2026, filed Sep 23, 2026

By segment

North America Retail

$2.5B Q1 FY2027

$2.6B Q1 FY2026

6.6% decrease

International

$794M Q1 FY2027

$760M Q1 FY2026

4.5% increase

North America Pet

$613M Q1 FY2027

$610M Q1 FY2026

0.5% increase

North America Foodservice

$523M Q1 FY2027

$517M Q1 FY2026

1.2% increase

Source: General Mills 10-Q for the quarter ended Aug 30, 2026, filed Sep 23, 2026

Cash & equivalents $433M at Aug 30, 2026, vs $454M at FY2026 end.
Operating cash flow, first 3 months of fiscal 2027: $298M vs $397M a year earlier.

The bull case and the bear case

The bull case

Diluted shares fell 3.6% in FY2026, so each share represents a larger slice of profit. 10-K, FY2026
Total debt fell 9.0% in FY2026 to $13.5B. 10-K, FY2026
International revenue grew 8.8% in FY2026 to $3.0B. 10-K, FY2026

The bear case

Revenue fell 5.4% in FY2026 to $18.4B, from $19.5B a year earlier. 10-K, FY2026
It reported a net loss of $88M in FY2026. 10-K, FY2026
Operating cash flow fell 25.8% in FY2026 to $2.2B. 10-K, FY2026
Revenue in the quarter ended Aug 30, 2026 was $4.4B, down 2.8% on a year earlier. 10-Q, quarter ended Aug 30, 2026

What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.

What the company does

General Mills is in the packaged foods & meats industry, part of the consumer staples sector. The SEC files it under Grain Mill Products.

General Mills reports 4 segments: North America Retail, International, North America Pet and North America Foodservice.

Its fiscal year ends in May; the latest, FY2026, ended May 31, 2026.

Source: 10-K, Item 1 Business

Risks common in this industry

These are general risks for companies in the packaged foods & meats industry. They are not a summary of General Mills’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.

CostsCommodity, packaging and freight costs can rise faster than prices.
Consumer habitsShoppers can trade down to store brands or change what they buy.
Retail customersA few large retailers account for much of its sales.
Regulation and safetyFood and product safety rules and recalls can bring cost and reputational harm.
CompetitionRivals and private-label products compete for shelf space and prices.

Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)

Three years of key numbers

Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.

US$	FY2024	FY2025	FY2026
Revenue	$19.9B	$19.5B	$18.4B
Net income	$2.5B	$2.3B	−$88M
Operating cash flow	$3.3B	$2.9B	$2.2B
Cash & equivalents (year end)	$418M	$364M	$454M
Total debt (year end)	–	$14.9B	$13.5B
Diluted shares	580M	558M	538M

Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
Total debt: Short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value.
Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.

Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator

Explainers for this page

Plain-English guides to terms this file uses, with real numbers from filings.

About these numbers

General Mills names its fiscal year by the calendar year in which it ends, so FY2026 is the year that ended May 31, 2026.

Recent filings

Form	Filed	Period
10-Q	Sep 23, 2026	Aug 30, 2026
DEF 14A	Aug 13, 2026	Sep 29, 2026
10-K	Jul 1, 2026	May 31, 2026

Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters

Common questions about General Mills

How does General Mills make money?

Fiscal 2026 revenue: $18.4B. By segment in FY2026: North America Retail (57%), International (17%), North America Pet (14%) and North America Foodservice (12%), as shares of total revenue. Total revenue was $18.4B. Source: 10-K for fiscal 2026, filed Jul 1, 2026.

What was General Mills's revenue in fiscal 2026?

$18.4B, down 5.4% from fiscal 2025 ($19.5B). The year ended May 31, 2026; for fiscal 2024 the figure was $19.9B. Source: 10-K for fiscal 2026, filed Jul 1, 2026.

Is General Mills profitable?

Net income was −$88M in fiscal 2026 (compared with $2.3B; fiscal 2025 was $2.3B). That counts as a GAAP loss. The latest quarter, ended Aug 30, 2026: net income was $397M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2026, filed Jul 1, 2026.

What did General Mills report in its latest quarterly filing?

For the three months to Aug 30, 2026: revenue $4.4B (down 2.8% from $4.5B) and net income $397M (down 67.0% from $1.2B). Source: 10-Q for the quarter ended Aug 30, 2026, filed Sep 23, 2026.

What are the main risks General Mills faces?

General Mills's own risk factors are in Item 1A of its 10-K for fiscal 2026, filed Jul 1, 2026. Risks that are common among companies in the packaged foods & meats industry include Costs; consumer habits; retail customers; regulation and safety; competition. The first: Commodity, packaging and freight costs can rise faster than prices. Source: 10-K, Item 1A Risk Factors.

Where do these General Mills numbers come from?

The 10-K filed Jul 1, 2026 (fiscal 2026) and the 10-Q filed Sep 23, 2026 (quarter ended Aug 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.

Tracked funds that report owning General Mills

Citadel Advisors: 1,928,346 shares, reported value $67.1M at Jun 30, 2026 (+45.5% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
Millennium Management: 1,763,880 shares, reported value $61.4M at Jun 30, 2026 (−25.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Bridgewater Associates: 93,154 shares, reported value $3.2M at Jun 30, 2026 (+14.0% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
Two Sigma Investments: 18,818 shares, reported value $0.7M at Jun 30, 2026 (−99.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.

From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.

Disclosures

Editor holdings in GIS: The editor holds no position in General Mills (GIS). As of Nov 11, 2026.
Trading rule: The editor does not buy or sell GIS from 3 days before to 3 days after this page is published or substantively updated.
Compensation: Nobody paid for this page. No affiliate links on this page.
Sources: The company's SEC filings, linked next to each number or, for charts, in the source line under them.
Last updated: Nov 10, 2026

General education, the same for every reader. Not a recommendation to buy, sell or hold GIS, and it doesn't consider your situation.

Compare with peers

Company	Fiscal year	Revenue	Revenue growth	Net income
General MillsGIS	FY2026	$18.4B	−5.4%	−$88M
MondelezMDLZ	FY2025	$38.5B	+5.8%	$2.5B
HersheyHSY	FY2025	$11.7B	+4.4%	$883M
Kraft HeinzKHC	FY2025	$24.9B	−3.5%	−$5.8B
Tyson FoodsTSN	FY2025	$54.4B	+2.1%	$474M

Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.

More company files

New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.