Does GENERAL MILLS, INC. have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores GENERAL MILLS, INC. (GIS) 56.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 62, balance-sheet safety 40, capital discipline 59.

Is GIS stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $51.98 per share versus a recent price of $37.97 — 27% below value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has GIS's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 56.5 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

GENERAL MILLS, INC.

GIS · Consumer Staples · $20.3B mkt cap · FY2026 filings · Shallow moat ·

On the watchlist

Shallow moat

The four filters

Pricing power60

Median gross margin 34.5% over 10y, very stable.

Returns on capital62

Median ROIC 12.0%, above the 9% hurdle in 90% of years.

Balance-sheet safety40

Net debt/EBITDA 9.1x, no material interest expense disclosed.

Capital discipline59

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

27% below value

Owner earnings (normalized): $2.5B
Est. intrinsic value / share: $51.98
Recent price: $37.97
Discount to value: 27% below value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

20 years of fundamentals

The business, in plain English

GENERAL MILLS, INC. booked $18.4B of revenue in FY2026 in the Consumer Staples sector and kept 33.6% of it as gross profit — a moderate-margin business by that measure. After every other cost, −0.5% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $13.7B (FY2008) to $18.4B (FY2026) — about 1.7% a year compounded over 18 years.

It earned 2.8% on invested capital in FY2026, with a median of 13.0% across 19 filed years. The Returns on Capital filter above scores it 62/100.

The balance sheet carried $13.5B of total debt in FY2026. Balance-Sheet Safety scores it 40/100.

The share count fell 18.0% between FY2010 and FY2026 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 59/100.

Put together: Returns on Capital is the strongest of the four filters (62/100) and Balance-Sheet Safety the weakest (40/100), which is how GIS lands at 57/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$18.4B FY2026

Gross marginRevenue kept after cost of goods33.6% FY2026

Return on invested capitalOperating profit on the capital employed2.8% FY2026

Owner earningsCash an owner could take out−$72.3M FY2026

Gaps in a line mean that item isn’t in GIS’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale56.5 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — GIS has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Consumer Staples context

#21 of 66 scored Consumer Staples companies, ranked by Moat Score.

Nearest peers by Moat Score

#19INGR INGREDION INCORPORATED62.5 out of 100, Narrow moatNarrow moat
#20MAMA Mama's Creations, Inc.62.2 out of 100, Narrow moatNarrow moat
#22TR TOOTSIE ROLL INDUSTRIES INC54.8 out of 100, Shallow moatShallow moat
#23LWAY LIFEWAY FOODS, INC.52.1 out of 100, Shallow moatShallow moat

Compare GIS with its nearest peers →All Consumer Staples companies on the Index →

Common questions about GIS

Does GENERAL MILLS, INC. have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores GENERAL MILLS, INC. (GIS) 56.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 60, returns on capital 62, balance-sheet safety 40, capital discipline 59.
Is GIS stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $51.98 per share versus a recent price of $37.97 — 27% below value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has GIS's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 56.5 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell GIS. See the disclaimer.