Intrinsic value of General Mills - GIS

Previous Close

$43.96

  Intrinsic Value

$37.82

stock screener

  Rating & Target

hold

-14%

Previous close

$43.96

 
Intrinsic value

$37.82

 
Up/down potential

-14%

 
Rating

hold

We calculate the intrinsic value of GIS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -5.69
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  15,620
  15,932
  16,299
  16,718
  17,188
  17,709
  18,281
  18,903
  19,577
  20,303
  21,083
  21,916
  22,806
  23,753
  24,759
  25,827
  26,959
  28,157
  29,424
  30,763
  32,176
  33,668
  35,241
  36,899
  38,645
  40,485
  42,422
  44,461
  46,607
  48,864
  51,238
Variable operating expenses, $m
 
  13,436
  13,715
  14,033
  14,391
  14,787
  15,221
  15,694
  16,206
  16,758
  17,350
  16,656
  17,332
  18,052
  18,817
  19,629
  20,489
  21,399
  22,362
  23,380
  24,454
  25,587
  26,783
  28,043
  29,370
  30,769
  32,241
  33,790
  35,421
  37,136
  38,941
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  13,053
  13,436
  13,715
  14,033
  14,391
  14,787
  15,221
  15,694
  16,206
  16,758
  17,350
  16,656
  17,332
  18,052
  18,817
  19,629
  20,489
  21,399
  22,362
  23,380
  24,454
  25,587
  26,783
  28,043
  29,370
  30,769
  32,241
  33,790
  35,421
  37,136
  38,941
Operating income, $m
  2,566
  2,496
  2,584
  2,685
  2,797
  2,922
  3,060
  3,209
  3,371
  3,545
  3,732
  5,260
  5,474
  5,701
  5,942
  6,199
  6,470
  6,758
  7,062
  7,383
  7,723
  8,080
  8,458
  8,856
  9,275
  9,717
  10,182
  10,671
  11,186
  11,728
  12,297
EBITDA, $m
  3,170
  5,557
  5,685
  5,831
  5,995
  6,177
  6,376
  6,594
  6,829
  7,082
  7,354
  7,645
  7,955
  8,285
  8,636
  9,009
  9,404
  9,821
  10,263
  10,730
  11,223
  11,744
  12,292
  12,870
  13,480
  14,122
  14,797
  15,508
  16,257
  17,044
  17,872
Interest expense (income), $m
  286
  512
  532
  554
  579
  607
  639
  674
  711
  752
  796
  843
  893
  947
  1,005
  1,065
  1,130
  1,198
  1,271
  1,348
  1,429
  1,514
  1,604
  1,699
  1,800
  1,905
  2,017
  2,134
  2,257
  2,387
  2,523
Earnings before tax, $m
  2,271
  1,984
  2,052
  2,131
  2,218
  2,315
  2,421
  2,536
  2,660
  2,793
  2,936
  4,417
  4,580
  4,754
  4,938
  5,133
  5,340
  5,559
  5,791
  6,036
  6,294
  6,566
  6,854
  7,156
  7,475
  7,811
  8,165
  8,537
  8,929
  9,341
  9,774
Tax expense, $m
  655
  536
  554
  575
  599
  625
  654
  685
  718
  754
  793
  1,193
  1,237
  1,283
  1,333
  1,386
  1,442
  1,501
  1,564
  1,630
  1,699
  1,773
  1,851
  1,932
  2,018
  2,109
  2,205
  2,305
  2,411
  2,522
  2,639
Net income, $m
  1,658
  1,448
  1,498
  1,556
  1,619
  1,690
  1,767
  1,851
  1,942
  2,039
  2,143
  3,224
  3,343
  3,470
  3,605
  3,747
  3,898
  4,058
  4,227
  4,406
  4,595
  4,793
  5,003
  5,224
  5,457
  5,702
  5,960
  6,232
  6,518
  6,819
  7,135

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  766
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  21,813
  22,252
  22,764
  23,349
  24,006
  24,733
  25,532
  26,401
  27,343
  28,357
  29,445
  30,609
  31,851
  33,174
  34,580
  36,072
  37,652
  39,326
  41,095
  42,965
  44,939
  47,022
  49,219
  51,534
  53,974
  56,544
  59,249
  62,097
  65,093
  68,246
  71,561
Adjusted assets (=assets-cash), $m
  21,047
  22,252
  22,764
  23,349
  24,006
  24,733
  25,532
  26,401
  27,343
  28,357
  29,445
  30,609
  31,851
  33,174
  34,580
  36,072
  37,652
  39,326
  41,095
  42,965
  44,939
  47,022
  49,219
  51,534
  53,974
  56,544
  59,249
  62,097
  65,093
  68,246
  71,561
Revenue / Adjusted assets
  0.742
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
  0.716
Average production assets, $m
  8,251
  17,334
  17,733
  18,189
  18,701
  19,267
  19,890
  20,567
  21,300
  22,090
  22,938
  23,845
  24,813
  25,843
  26,938
  28,100
  29,331
  30,635
  32,013
  33,470
  35,008
  36,631
  38,342
  40,146
  42,046
  44,048
  46,155
  48,374
  50,708
  53,164
  55,747
Working capital, $m
  -1,270
  -653
  -668
  -685
  -705
  -726
  -750
  -775
  -803
  -832
  -864
  -899
  -935
  -974
  -1,015
  -1,059
  -1,105
  -1,154
  -1,206
  -1,261
  -1,319
  -1,380
  -1,445
  -1,513
  -1,584
  -1,660
  -1,739
  -1,823
  -1,911
  -2,003
  -2,101
Total debt, $m
  9,482
  9,843
  10,254
  10,723
  11,250
  11,833
  12,474
  13,171
  13,926
  14,739
  15,612
  16,546
  17,542
  18,603
  19,730
  20,927
  22,194
  23,536
  24,955
  26,455
  28,038
  29,709
  31,471
  33,328
  35,284
  37,345
  39,515
  41,799
  44,202
  46,730
  49,389
Total liabilities, $m
  17,485
  17,846
  18,257
  18,726
  19,252
  19,836
  20,477
  21,174
  21,929
  22,742
  23,615
  24,549
  25,545
  26,606
  27,733
  28,929
  30,197
  31,539
  32,958
  34,458
  36,041
  37,712
  39,474
  41,331
  43,287
  45,348
  47,518
  49,801
  52,205
  54,733
  57,392
Total equity, $m
  4,328
  4,406
  4,507
  4,623
  4,753
  4,897
  5,055
  5,227
  5,414
  5,615
  5,830
  6,061
  6,307
  6,568
  6,847
  7,142
  7,455
  7,786
  8,137
  8,507
  8,898
  9,310
  9,745
  10,204
  10,687
  11,196
  11,731
  12,295
  12,888
  13,513
  14,169
Total liabilities and equity, $m
  21,813
  22,252
  22,764
  23,349
  24,005
  24,733
  25,532
  26,401
  27,343
  28,357
  29,445
  30,610
  31,852
  33,174
  34,580
  36,071
  37,652
  39,325
  41,095
  42,965
  44,939
  47,022
  49,219
  51,535
  53,974
  56,544
  59,249
  62,096
  65,093
  68,246
  71,561
Debt-to-equity ratio
  2.191
  2.230
  2.270
  2.320
  2.370
  2.420
  2.470
  2.520
  2.570
  2.630
  2.680
  2.730
  2.780
  2.830
  2.880
  2.930
  2.980
  3.020
  3.070
  3.110
  3.150
  3.190
  3.230
  3.270
  3.300
  3.340
  3.370
  3.400
  3.430
  3.460
  3.490
Adjusted equity ratio
  0.206
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198
  0.198

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  1,658
  1,448
  1,498
  1,556
  1,619
  1,690
  1,767
  1,851
  1,942
  2,039
  2,143
  3,224
  3,343
  3,470
  3,605
  3,747
  3,898
  4,058
  4,227
  4,406
  4,595
  4,793
  5,003
  5,224
  5,457
  5,702
  5,960
  6,232
  6,518
  6,819
  7,135
Depreciation, amort., depletion, $m
  604
  3,061
  3,101
  3,147
  3,198
  3,255
  3,317
  3,384
  3,458
  3,537
  3,622
  2,384
  2,481
  2,584
  2,694
  2,810
  2,933
  3,064
  3,201
  3,347
  3,501
  3,663
  3,834
  4,015
  4,205
  4,405
  4,616
  4,837
  5,071
  5,316
  5,575
Funds from operations, $m
  1,995
  4,510
  4,599
  4,702
  4,817
  4,945
  5,084
  5,235
  5,399
  5,576
  5,765
  5,609
  5,825
  6,054
  6,298
  6,557
  6,832
  7,122
  7,429
  7,753
  8,095
  8,457
  8,837
  9,239
  9,662
  10,107
  10,576
  11,070
  11,589
  12,135
  12,710
Change in working capital, $m
  -318
  -13
  -15
  -17
  -19
  -21
  -23
  -26
  -28
  -30
  -32
  -34
  -36
  -39
  -41
  -44
  -46
  -49
  -52
  -55
  -58
  -61
  -64
  -68
  -72
  -75
  -79
  -84
  -88
  -93
  -97
Cash from operations, $m
  2,313
  4,522
  4,614
  4,719
  4,837
  4,966
  5,107
  5,261
  5,427
  5,606
  5,797
  5,643
  5,861
  6,093
  6,340
  6,601
  6,878
  7,171
  7,481
  7,808
  8,153
  8,518
  8,902
  9,307
  9,733
  10,183
  10,655
  11,153
  11,677
  12,228
  12,807
Maintenance CAPEX, $m
  0
  -1,699
  -1,733
  -1,773
  -1,819
  -1,870
  -1,927
  -1,989
  -2,057
  -2,130
  -2,209
  -2,294
  -2,384
  -2,481
  -2,584
  -2,694
  -2,810
  -2,933
  -3,064
  -3,201
  -3,347
  -3,501
  -3,663
  -3,834
  -4,015
  -4,205
  -4,405
  -4,616
  -4,837
  -5,071
  -5,316
New CAPEX, $m
  -684
  -340
  -399
  -456
  -512
  -567
  -622
  -677
  -733
  -790
  -848
  -907
  -968
  -1,030
  -1,095
  -1,162
  -1,231
  -1,304
  -1,378
  -1,457
  -1,538
  -1,623
  -1,711
  -1,804
  -1,901
  -2,002
  -2,108
  -2,218
  -2,334
  -2,456
  -2,583
Cash from investing activities, $m
  -647
  -2,039
  -2,132
  -2,229
  -2,331
  -2,437
  -2,549
  -2,666
  -2,790
  -2,920
  -3,057
  -3,201
  -3,352
  -3,511
  -3,679
  -3,856
  -4,041
  -4,237
  -4,442
  -4,658
  -4,885
  -5,124
  -5,374
  -5,638
  -5,916
  -6,207
  -6,513
  -6,834
  -7,171
  -7,527
  -7,899
Free cash flow, $m
  1,666
  2,483
  2,482
  2,490
  2,506
  2,529
  2,559
  2,595
  2,637
  2,686
  2,740
  2,442
  2,509
  2,582
  2,660
  2,745
  2,837
  2,934
  3,039
  3,150
  3,268
  3,394
  3,528
  3,669
  3,818
  3,976
  4,143
  4,319
  4,505
  4,701
  4,908
Issuance/(repayment) of debt, $m
  1,035
  361
  410
  469
  527
  584
  640
  697
  755
  813
  873
  934
  996
  1,061
  1,127
  1,196
  1,268
  1,342
  1,419
  1,500
  1,583
  1,671
  1,762
  1,857
  1,957
  2,061
  2,170
  2,284
  2,403
  2,528
  2,659
Issuance/(repurchase) of shares, $m
  -1,539
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -511
  361
  410
  469
  527
  584
  640
  697
  755
  813
  873
  934
  996
  1,061
  1,127
  1,196
  1,268
  1,342
  1,419
  1,500
  1,583
  1,671
  1,762
  1,857
  1,957
  2,061
  2,170
  2,284
  2,403
  2,528
  2,659
Total cash flow (excl. dividends), $m
  1,137
  2,844
  2,893
  2,960
  3,033
  3,113
  3,199
  3,292
  3,392
  3,499
  3,613
  3,376
  3,505
  3,642
  3,788
  3,942
  4,104
  4,276
  4,458
  4,650
  4,852
  5,065
  5,289
  5,526
  5,775
  6,037
  6,313
  6,603
  6,908
  7,229
  7,567
Retained Cash Flow (-), $m
  602
  -78
  -101
  -116
  -130
  -144
  -158
  -172
  -186
  -201
  -215
  -231
  -246
  -262
  -278
  -295
  -313
  -331
  -350
  -370
  -391
  -412
  -435
  -458
  -483
  -509
  -536
  -564
  -593
  -624
  -657
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  31
  32
  33
  33
  34
  35
  37
  38
  39
  41
  42
  44
  46
  48
  50
  52
  54
  56
  59
  62
  64
  67
  70
  74
  77
  81
  85
  89
  93
  98
Cash available for distribution, $m
 
  2,766
  2,791
  2,844
  2,903
  2,968
  3,041
  3,120
  3,206
  3,298
  3,398
  3,146
  3,259
  3,380
  3,509
  3,646
  3,791
  3,945
  4,108
  4,279
  4,461
  4,652
  4,854
  5,067
  5,292
  5,528
  5,777
  6,039
  6,315
  6,605
  6,910
Discount rate, %
 
  8.20
  8.61
  9.04
  9.49
  9.97
  10.47
  10.99
  11.54
  12.12
  12.72
  13.36
  14.02
  14.73
  15.46
  16.24
  17.05
  17.90
  18.79
  19.73
  20.72
  21.76
  22.84
  23.99
  25.19
  26.45
  27.77
  29.16
  30.61
  32.15
  33.75
PV of cash for distribution, $m
 
  2,557
  2,366
  2,193
  2,020
  1,846
  1,674
  1,504
  1,338
  1,178
  1,026
  792
  675
  567
  469
  382
  306
  240
  185
  140
  103
  75
  53
  36
  24
  16
  10
  6
  4
  2
  1
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

General Mills, Inc. is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice. Its products are marketed under various brands, which include Annie's and Betty Crocker. The Company's U.S. Retail segment reflects business with a range of grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, and e-commerce grocery providers operating throughout the United States. The International segment consists of retail and foodservice businesses outside of the United States. The Convenience Stores and Foodservice segment's product categories include ready-to-eat cereals, snacks, refrigerated yogurt, frozen meals, unbaked and fully baked frozen dough products, and baking mixes.

FINANCIAL RATIOS  of  General Mills (GIS)

Valuation Ratios
P/E Ratio 15.3
Price to Sales 1.6
Price to Book 5.9
Price to Tangible Book
Price to Cash Flow 11
Price to Free Cash Flow 15.6
Growth Rates
Sales Growth Rate -5.7%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -6.2%
Cap. Spend. - 3 Yr. Gr. Rate 0.6%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 176.6%
Total Debt to Equity 219.1%
Interest Coverage 9
Management Effectiveness
Return On Assets 8.6%
Ret/ On Assets - 3 Yr. Avg. 7.9%
Return On Total Capital 12.2%
Ret/ On T. Cap. - 3 Yr. Avg. 10.9%
Return On Equity 35.8%
Return On Equity - 3 Yr. Avg. 30.4%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 35.8%
Gross Margin - 3 Yr. Avg. 35.3%
EBITDA Margin 20.2%
EBITDA Margin - 3 Yr. Avg. 18.4%
Operating Margin 16.4%
Oper. Margin - 3 Yr. Avg. 14.9%
Pre-Tax Margin 14.5%
Pre-Tax Margin - 3 Yr. Avg. 13%
Net Profit Margin 10.6%
Net Profit Margin - 3 Yr. Avg. 9.3%
Effective Tax Rate 28.8%
Eff/ Tax Rate - 3 Yr. Avg. 31.2%
Payout Ratio 68.5%

GIS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GIS stock intrinsic value calculation we used $15620 million for the last fiscal year's total revenue generated by General Mills. The default revenue input number comes from 2017 income statement of General Mills. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GIS stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.2%, whose default value for GIS is calculated based on our internal credit rating of General Mills, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of General Mills.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GIS stock the variable cost ratio is equal to 84.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GIS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for General Mills.

Corporate tax rate of 27% is the nominal tax rate for General Mills. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GIS stock is equal to 0.2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GIS are equal to 108.8%.

Life of production assets of 10 years is the average useful life of capital assets used in General Mills operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GIS is equal to -4.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4328 million for General Mills - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 576 million for General Mills is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of General Mills at the current share price and the inputted number of shares is $25.3 billion.

RELATED COMPANIES Price Int.Val. Rating
K Kellogg 70.59 33.49  sell
SJM J.M. Smucker 108.41 108.84  hold
POST Post Holdings 87.27 105.91  buy
HSY Hershey 92.75 51.09  sell
MDLZ Mondelez Inter 42.31 24.60  sell
PF Pinnacle Foods 65.22 41.95  sell
BGS B&G Foods 29.80 48.57  str.buy
CAG Conagra Brands 35.69 13.78  str.sell

COMPANY NEWS

▶ In Your 70s? Here Are 2 Stocks You Might Want to Buy   [Jul-15-18 09:34AM  Motley Fool]
▶ 2 Stocks I'm Putting on My Watchlist   [Jul-14-18 11:40AM  Motley Fool]
▶ General Mills' Plans to Emphasize Sales Growth Carry Risks   [Jul-11-18 05:51PM  TheStreet.com]
▶ How one sweet cereal is bucking the health trend   [01:17PM  Yahoo Finance Video]
▶ Stocks down, tension mounts over trade   [11:40AM  Yahoo Finance]
▶ Yahoo Finance Live: Midday Movers - Jul 11th, 2018   [09:40AM  Yahoo Finance Video]
▶ 5 Things to Watch for at General Mills' Investor Day   [Jul-10-18 06:03PM  TheStreet.com]
▶ 3 Huge Reasons to Be Bullish on Coca-Cola Stock   [Jul-05-18 11:24PM  InvestorPlace]
▶ Today's Pickup: Freight Markets Strong To End Q2   [Jul-02-18 04:10PM  Benzinga]
▶ General Mills Finally Sees Growth In Its Future   [Jun-29-18 09:10PM  Motley Fool]
▶ General Mills CEO on Keeping Up With the Dynamic Food Industry   [Jun-28-18 06:30PM  Bloomberg Video]
▶ Company News For Jun 28, 2018   [09:52AM  Zacks]
▶ [$$] General Mills Job Cuts to Total 625   [Jun-27-18 07:49PM  The Wall Street Journal]
▶ [$$] General Mills to Cut 625 Jobs   [09:45AM  The Wall Street Journal]
▶ General Mills bests Wall Street outlook, but boosts job cuts   [08:30AM  American City Business Journals]
▶ General Mills Quarterly Dividend Declared   [Jun-26-18 05:07PM  PR Newswire]
▶ General Mills Q4 Earnings Preview   [02:30PM  Benzinga]
▶ These 3 Safety Stocks Are Now Value Plays   [01:10PM  InvestorPlace]
▶ [$$] Conagra, General Mills Square Off in Battle to Revive Packaged Foods   [Jun-24-18 07:50PM  The Wall Street Journal]
▶ How to Find the Best Dividend Stocks   [12:30PM  Motley Fool]
▶ Cramer's game plan on Trump's trade talk   [05:28PM  CNBC Videos]
▶ New Yogurt Cuts Down on Sugar   [Jun-19-18 03:58PM  Bloomberg]
▶ Has Greek peaked? General Mills bets yes with new Yoplait brand YQ   [08:34AM  American City Business Journals]
▶ TPC Twin Cities has its PGA event, but the work has just begun   [06:00AM  American City Business Journals]
▶ 10 Consumer Stocks on the Clearance Rack   [Jun-18-18 03:06PM  InvestorPlace]
▶ Retired? 2 Stocks You Should Consider Buying   [Jun-16-18 02:00PM  Motley Fool]
▶ [$$] How to Bet on Resurgent Consumer-Staples Shares   [Jun-14-18 02:43PM  Barrons.com]
▶ Can Trump win on trade with little support at home?   [Jun-11-18 01:13PM  Yahoo Finance Video]
▶ Wheat Completes Technical Sell Signal   [May-31-18 03:31AM  Investopedia]
▶ PepsiCo buys S.F.-based Bare Foods as food giants shop Bay Area for innovation   [May-25-18 05:38PM  American City Business Journals]
Financial statements of GIS
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.