Discounted Cash Flow
General Mills Inc.
—
Sales growth has weakened: 4.8% (2022) → 5.8% (2023) → -1.2% (2024) → -1.9% (2025). Revenue growth has been decelerating or declining in recent years and is now -1.9% — a slowing company may not sustain the growth the DCF projects, so the valuation could be overstated.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2016 | $19.2b | $2.0b | — | 10.2% | $2.83 |
| 2017 | $18.1b (-5.7%) | $1.9b (-2.4%) | $1.9b | 10.6% (3.5%) | $2.82 (-0.4%) |
| 2018 | $18.2b (0.8%) | $2.5b (28.6%) | $2.6b (36.2%) | 13.5% (27.6%) | $3.69 (30.9%) |
| 2019 | $19.6b (7.1%) | $2.0b (-17.8%) | $2.6b (2.3%) | 10.4% (-23.2%) | $2.92 (-20.9%) |
| 2020 | $20.4b (4.5%) | $2.5b (24.4%) | $3.7b (41.7%) | 12.4% (19.1%) | $3.59 (22.9%) |
| 2021 | $21.0b (2.8%) | $2.7b (7.3%) | $2.8b (-23.7%) | 12.9% (4.3%) | $3.81 (6.1%) |
| 2022 | $22.0b (4.8%) | $3.1b (15.7%) | $3.2b (12.0%) | 14.3% (10.4%) | $4.46 (17.1%) |
| 2023 | $23.3b (5.8%) | $3.0b (-4.2%) | $2.4b (-24.0%) | 12.9% (-9.4%) | $4.36 (-2.2%) |
| 2024 | $23.0b (-1.2%) | $2.9b (-3.8%) | $2.9b (21.0%) | 12.6% (-2.6%) | $4.34 (-0.5%) |
| 2025 | $22.6b (-1.9%) | $2.7b (-8.1%) | $2.7b (-9.3%) | 11.8% (-6.3%) | $4.12 (-5.1%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in EUR. Values above are converted to USD for comparison with the US-listed share price.
Values abbreviated: b = billions, m = millions, k = thousands.
Projected cash flows
| Year | Projected cash flow | Discount Factor | Present Value |
|---|
PV of projected FCF: —
Terminal FCF: —
Terminal value: —
PV of terminal value: —
Enterprise value (DCF): —
Net debt deduction: —
Current price: —
—Alternative DCF Models
| Model | Fair Value | Upside | PV(FCFs) | PV(Terminal) | Total Years |
|---|---|---|---|---|---|
| Standard (10yr→TV) | — | — | — | — | 10 + TV |
| Alt A (Gradual Decline) | — | — | — | — | — |
| Alt B (30yr Hard Stop) | — | — | — | N/A | — |
This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.