General Mills Inc (GIS) fair value: what the stock is really worth
We calculate from audited financials what General Mills Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range $31.62 – $78.31 · fair‑value band $18.81 – $47.13 · the $36.32 price screens above the $27.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.
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.
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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.
Stock analysis
General Mills Inc (GIS) currently trades at $36.32, while our model-based Fair Value estimate is $27.48, implying the stock looks roughly 32.2% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $58.71 per share, and 4 of the 15 models we run sit above the $36.32 price.
Bear case: the Asset-Based group reads lowest at $9.25, and 11 of the 15 models stay below the price. Evidence for this calculation is high.
Scenario range: $18.81 (bear) to $47.13 (bull), the price of $36.32 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
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.
Key figures
Market cap $19.9B · P/E ratio 7.9 · P/S ratio 0.93 · EPS (TTM) $−0.1600 · Dividend yield 6.7% · Net margin −0.5% · Return on equity −1.0% · Return on assets (EBIT) 10.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −9% fair-value upside, at −24%, GIS screens richer than that median.
Fair Value models
Bear $18.81Fair Value $27.48Bull $47.13
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 4 months old). Earnings retained since then ($0.5139 per share) are deliberately not added.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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−5.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−2.9%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+0.3%
Revenue growth 42 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+3.6%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
17.3% (2021) → 15.1% (2026)
What shareholders gained per year ⓘ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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.2%
Yearly sales growth analysts expect, extended to five years.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Packaged Foods · 650 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Below median
Fair Value upside−26% · Below median
Profitability
Return on assets6% · Above median
Net margin (TTM)0% · Bottom 25%
Operating margin (TTM)19% · Top 25%
Growth and dividend
Revenue growth2% · Below median
Dividend yield (TTM)6.7% · Top 25%
Balance sheet
Debt / equity1.69× · Highest 25%
Valuation Multiplesvs Packaged Foods median · lower = cheaper
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Is General Mills Inc (GIS) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of $27.48 versus a price of $36.32, about −24% upside (overvalued).
What is the fair value of GIS?
Our model-based fair value for General Mills Inc is $27.48 (as of Sep 18, 2026), built from audited fundamentals. The current price: $36.32.
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 price target for General Mills Inc (GIS)?
Our model-based price target is the fair value of $27.48 (as of Sep 18, 2026) from 15 valuation models. Cautious scenario $18.81, optimistic scenario $47.13. It is a calculation from audited fundamentals, not an analyst target.
What is the General Mills Inc stock forecast for 2026?
Our models put fair value at $27.48, about −24% upside versus a price of $36.32 (overvalued). Cautious scenario $18.81, optimistic scenario $47.13. The calculation is refreshed regularly with new filings.
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 Sep 18, 2026).
Does General Mills Inc pay a dividend?
General Mills Inc currently shows a dividend yield of about 6.69% relative to its recent price (as of Sep 18, 2026).
What growth is priced into General Mills Inc (GIS)?
For today's price to be fair in a discounted-cash-flow model, General Mills Inc would have to grow free cash flow by +8.5 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.3 % per year. As of Sep 18, 2026.
What discount rate (WACC) does the fair value of GIS use?
Our models discount General Mills Inc at 9.2 %: a base by market capitalisation (large), country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For General Mills Inc that is +8.5 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has General Mills Inc (GIS) delivered so far?
Over the past 5 years revenue at General Mills Inc grew +0.3 % a year. The price currently implies +8.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of General Mills Inc (GIS) growing?
The median revenue growth in the sector is +2.9 % a year. That is the yardstick for the growth priced into General Mills Inc (+8.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of General Mills Inc (GIS)?
The free-cash-flow yield on the price is 8.18 %: that much free cash flow General Mills Inc produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of General Mills Inc (GIS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For General Mills Inc it is $27.48 per share (as of Sep 18, 2026), against a price of $36.32. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is General Mills Inc stock overvalued or undervalued in 2026?
As of Sep 18, 2026, GIS trades above its calculated fair value: price $36.32, fair value $27.48, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GIS?
No. The price is what the market pays today ($36.32); the fair value is what the company's own numbers justify ($27.48). For General Mills Inc the two are $8.84 per share apart. That gap is exactly why we show both numbers side by side.
How much is General Mills Inc worth?
The market values General Mills Inc at about $19.9B (market capitalisation, as of Sep 18, 2026). Per share that is $36.32; our models calculate a fair value of $27.48 per share.
What do the bullish and bearish scenarios say about GIS?
Our models span a range for General Mills Inc: cautious scenario $18.81, base $27.48, optimistic $47.13 per share (as of Sep 18, 2026, price $36.32). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GIS?
General Mills Inc trades at a price-to-earnings ratio of 7.9 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $27.48 is built from several models across several years. Other multiples: PEG 11.7, P/B 2.7, P/S 1.1, EV/EBITDA 9.1.
What is the PEG ratio of GIS?
The PEG ratio of General Mills Inc is 11.74 (P/E divided by earnings growth, as of Sep 18, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of General Mills Inc (GIS)?
Balance-sheet figures for General Mills Inc (as of Sep 18, 2026): return on equity −1.0%, debt of 1.69 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is GIS from its 52-week high?
General Mills Inc trades at $36.32, about 30% below its 52-week high of $52.23 and 14% above the low of $31.75 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $27.48 is for.
Which stocks are comparable to General Mills Inc?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is General Mills Inc stock attractive at the current price?
The data as of Sep 18, 2026: price $36.32, calculated fair value $27.48 (−24%), Quality Score 54/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GIS calculated?
We run General Mills Inc through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $27.48, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. General Mills Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of General Mills Inc (GIS)?
The closing price on Sep 18, 2026 was $36.32. Our model-based fair value is $27.48, about −24% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with General Mills Inc right 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 ($18.81 to $47.13) leaves room in how you read the outcome.
Where does the earnings growth of General Mills Inc (GIS) come from?
Earnings per share at General Mills Inc grew +6.3 % a year from 2015 to 2026. Broken into its drivers: revenue per share +2.8 %, EBIT margin +1.9 %, tax rate +1.7 %, residual (interest, one-offs) −0.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of General Mills Inc
How large is the market capitalisation of General Mills Inc (GIS)?
The market capitalisation of General Mills Inc is $19.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of General Mills Inc (GIS)?
The price-to-sales ratio of General Mills Inc is 0.93 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of General Mills Inc (GIS)?
Earnings per share at General Mills Inc are $−0.1600 (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of General Mills Inc (GIS)?
The dividend yield of General Mills Inc is 6.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of General Mills Inc (GIS)?
The net margin of General Mills Inc is −0.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of General Mills Inc (GIS)?
The return on equity (ROE) of General Mills Inc is −1.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of General Mills Inc (GIS)?
On an EBIT basis the return on assets of General Mills Inc is 10.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of General Mills Inc (GIS)?
The operating margin of General Mills Inc is 19.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at General Mills Inc (GIS)?
Revenue at General Mills Inc is growing +2.2% versus a year earlier (3y avg −2.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at General Mills Inc (GIS)?
Earnings per share at General Mills Inc are growing −14.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does General Mills Inc (GIS) carry?
The net debt of General Mills Inc is $13.1B (fiscal year 2026, ≈ 8.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 18, 2026