What is General Mills Inc worth?
With the base-case assumptions below, a discounted cash flow model on General Mills Inc's reported free cash flow gives $18.22 per share. The share price was $33.64 on September 25, 2026, 85% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -4.5% | 10.0% | $2.33 | -93% |
| Base | 0.5% | 9.0% | $18.22 | -46% |
| Bull | 5.5% | 8.0% | $49.17 | +46% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $29.24 | $32.54 | $36.58 | $41.63 | $48.12 |
| 8.0% | $21.06 | $23.21 | $25.74 | $28.78 | $32.49 |
| 9.0% | $15.07 | $16.53 | $18.22 | $20.19 | $22.52 |
| 10.0% | $10.48 | $11.52 | $12.70 | $14.05 | $15.61 |
| 11.0% | $6.86 | $7.62 | $8.47 | $9.43 | $10.52 |
Where the presets come from
Base: years 1 to 5 grow at General Mills Inc's revenue growth rate over the last 5 fiscal years (0.3% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions