General Mills vs Hormel Foods
Add, change or remove companies; up to four.
The short version
- General Mills is the larger business, with $18.4B of revenue in fiscal 2026 against $12.1B for Hormel Foods, about 1.5 times as much.
- Hormel Foods grew revenue faster (1.6%, against −5.5%).
- Hormel Foods kept more of each dollar of sales as operating profit (5.9% operating margin, against 4.8%).
- General Mills turned more of its sales into free cash flow (8.8% FCF margin, against 4.4%).
- Hormel Foods earned a higher return on the capital invested in it (5.1%, against 2.0%).
| Latest fiscal year | GIS · FY26 | HRL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $18.5B | $11.6B |
| Revenue | $18.4B | $12.1B |
| Free cash flow | $1.6B | $534M |
| Net income | −$87.6M | $478M |
| Growth | ||
| Revenue growth | −5.5% | 1.6% |
| 5-year growth | 0.3% | 4.7% |
| Share count change | −3.6% | 0.3% |
| Profitability | ||
| Gross margin | 33.6% | 15.6% |
| Operating margin | 4.8% | 5.9% |
| Net margin | −0.5% | 4.0% |
| FCF margin | 8.8% | 4.4% |
| Return on capital | 2.0% | 5.1% |
| Return on equity | −1.1% | 6.0% |
| Balance sheet | ||
| Net debt | $13.1B | $2.2B |
| Net debt / EBITDA | 9.1x | 2.2x |
| Dividends and buybacks | $1.8B | $633M |
| Valuation & quality | ||
| P/E | — | 33.4x |
| Piotroski F-score | 5 | 5 |
Revenue
FY17
GIS $15.6B
HRL $9.2B
FY18
GIS $15.7B
HRL $9.5B
FY19
GIS $16.9B
HRL $9.5B
FY20
GIS $17.6B
HRL $9.6B
FY21
GIS $18.1B
HRL $11.4B
FY22
GIS $19.0B
HRL $12.5B
FY23
GIS $20.1B
HRL $12.1B
FY24
GIS $19.9B
HRL $11.9B
FY25
GIS $19.5B
HRL $12.1B
FY26
GIS $18.4B
HRL —
GIS
HRL
Operating margin
FY17
GIS 16.0%
HRL 13.9%
FY18
GIS 15.4%
HRL 12.4%
FY19
GIS 14.9%
HRL 12.6%
FY20
GIS 16.8%
HRL 11.5%
FY21
GIS 17.4%
HRL 9.9%
FY22
GIS 18.3%
HRL 10.5%
FY23
GIS 17.1%
HRL 8.9%
FY24
GIS 17.3%
HRL 9.0%
FY25
GIS 17.0%
HRL 5.9%
FY26
GIS 4.8%
HRL —
GIS
HRL
Free cash flow
FY17
GIS $1.7B
HRL $813M
FY18
GIS $2.2B
HRL $852M
FY19
GIS $2.3B
HRL $629M
FY20
GIS $3.2B
HRL $761M
FY21
GIS $2.5B
HRL $770M
FY22
GIS $2.7B
HRL $856M
FY23
GIS $2.1B
HRL $778M
FY24
GIS $2.5B
HRL $1.0B
FY25
GIS $2.3B
HRL $534M
FY26
GIS $1.6B
HRL —
GIS
HRL
Return on capital
FY17
GIS 13.5%
HRL —
FY18
GIS 13.3%
HRL 19.2%
FY19
GIS 9.6%
HRL 17.2%
FY20
GIS 11.6%
HRL 15.6%
FY21
GIS 11.9%
HRL 11.6%
FY22
GIS 13.3%
HRL 10.5%
FY23
GIS 12.7%
HRL 8.3%
FY24
GIS 12.5%
HRL 8.1%
FY25
GIS 11.5%
HRL 5.1%
FY26
GIS 2.0%
HRL —
GIS
HRL
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.