Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

General Mills, Inc. (0R1X.L)

Company Dividend Discount ModelIndustry: Food DistributionSector: Consumer Defensive

Valuation Snapshot

Stable Growth$74.24 - $134.89$99.46
Multi-Stage$156.07 - $171.68$163.72
Blended Fair Value$131.59
Current Price$49.33
Upside166.76%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS2.28%2.78%2.422.472.332.252.262.172.142.062.061.94
YoY Growth---1.81%5.86%3.49%-0.15%4.23%1.19%3.69%0.41%5.92%5.31%
Dividend Yield--4.92%3.48%3.40%2.92%3.92%3.39%3.97%4.50%3.79%2.72%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,919.50
(-) Cash Dividends Paid (M)1,331.80
(=) Cash Retained (M)1,587.70
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)583.90364.94218.96
Cash Retained (M)1,587.701,587.701,587.70
(-) Cash Required (M)-583.90-364.94-218.96
(=) Excess Retained (M)1,003.801,222.761,368.74
(/) Shares Outstanding (M)552.08552.08552.08
(=) Excess Retained per Share1.822.212.48
LTM Dividend per Share2.412.412.41
(+) Excess Retained per Share1.822.212.48
(=) Adjusted Dividend4.234.634.89
WACC / Discount Rate5.73%5.73%5.73%
Growth Rate0.03%1.03%2.03%
Fair Value$74.24$99.46$134.89
Upside / Downside50.50%101.63%173.44%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,919.502,949.472,979.753,010.343,041.253,072.473,164.64
Payout Ratio45.62%54.49%63.37%72.25%81.12%90.00%92.50%
Projected Dividends (M)1,331.801,607.281,888.282,174.882,467.172,765.222,927.30

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.73%5.73%5.73%
Growth Rate0.03%1.03%2.03%
Year 1 PV (M)1,505.181,520.231,535.27
Year 2 PV (M)1,655.991,689.271,722.87
Year 3 PV (M)1,786.171,840.281,895.47
Year 4 PV (M)1,897.491,974.522,053.87
Year 5 PV (M)1,991.632,093.192,198.86
PV of Terminal Value (M)77,325.7881,269.1085,371.68
Equity Value (M)86,162.2390,386.5894,778.02
Shares Outstanding (M)552.08552.08552.08
Fair Value$156.07$163.72$171.68
Upside / Downside216.38%231.89%248.02%

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