General Mills vs Kraft Heinz
Add, change or remove companies; up to four.
The short version
- Kraft Heinz is the larger business, with $24.9B of revenue in fiscal 2025 against $18.4B for General Mills.
- Kraft Heinz grew revenue faster (−3.5%, against −5.5%).
- General Mills kept more of each dollar of sales as operating profit (4.8% operating margin, against −18.7%).
- Kraft Heinz turned more of its sales into free cash flow (14.7% FCF margin, against 8.8%).
- General Mills earned a higher return on the capital invested in it (2.0%, against −5.8%).
| Latest fiscal year | GIS · FY26 | KHC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.5B | $29.4B |
| Revenue | $18.4B | $24.9B |
| Free cash flow | $1.6B | $3.7B |
| Net income | −$87.6M | −$5.8B |
| Growth | ||
| Revenue growth | −5.5% | −3.5% |
| 5-year growth | 0.3% | −1.0% |
| Share count change | −3.6% | −2.3% |
| Profitability | ||
| Gross margin | 33.6% | 33.3% |
| Operating margin | 4.8% | −18.7% |
| Net margin | −0.5% | −23.4% |
| FCF margin | 8.8% | 14.7% |
| Return on capital | 2.0% | −5.8% |
| Return on equity | −1.1% | −12.9% |
| Balance sheet | ||
| Net debt | $13.1B | $18.6B |
| Net debt / EBITDA | 9.1x | — |
| Dividends and buybacks | $1.8B | $2.3B |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 5 | 4 |
Revenue
FY17
GIS $15.6B
KHC $26.1B
FY18
GIS $15.7B
KHC $26.3B
FY19
GIS $16.9B
KHC $25.0B
FY20
GIS $17.6B
KHC $26.2B
FY21
GIS $18.1B
KHC $26.0B
FY22
GIS $19.0B
KHC $26.5B
FY23
GIS $20.1B
KHC $26.6B
FY24
GIS $19.9B
KHC $25.8B
FY25
GIS $19.5B
KHC $24.9B
FY26
GIS $18.4B
KHC —
GIS
KHC
Operating margin
FY17
GIS 16.0%
KHC 23.2%
FY18
GIS 15.4%
KHC −38.9%
FY19
GIS 14.9%
KHC 12.3%
FY20
GIS 16.8%
KHC 8.1%
FY21
GIS 17.4%
KHC 13.3%
FY22
GIS 18.3%
KHC 13.7%
FY23
GIS 17.1%
KHC 17.2%
FY24
GIS 17.3%
KHC 6.5%
FY25
GIS 17.0%
KHC −18.7%
FY26
GIS 4.8%
KHC —
GIS
KHC
Free cash flow
FY17
GIS $1.7B
KHC −$693M
FY18
GIS $2.2B
KHC $1.7B
FY19
GIS $2.3B
KHC $2.8B
FY20
GIS $3.2B
KHC $4.3B
FY21
GIS $2.5B
KHC $4.5B
FY22
GIS $2.7B
KHC $1.6B
FY23
GIS $2.1B
KHC $3.0B
FY24
GIS $2.5B
KHC $3.2B
FY25
GIS $2.3B
KHC $3.7B
FY26
GIS $1.6B
KHC —
GIS
KHC
Return on capital
FY17
GIS 13.5%
KHC 6.7%
FY18
GIS 13.3%
KHC −9.1%
FY19
GIS 9.6%
KHC 2.8%
FY20
GIS 11.6%
KHC 1.4%
FY21
GIS 11.9%
KHC 2.9%
FY22
GIS 13.3%
KHC 4.3%
FY23
GIS 12.7%
KHC 5.3%
FY24
GIS 12.5%
KHC 2.5%
FY25
GIS 11.5%
KHC −5.8%
FY26
GIS 2.0%
KHC —
GIS
KHC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.