GIS vs HRL: General Mills and Hormel Foods compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- General Mills is the larger company, worth $17.3B, about 1.6 times Hormel Foods.
- Hormel Foods grew revenue faster over the last year (-2.4% vs -2.8%).
- Hormel Foods keeps more of each dollar of revenue as operating profit (4.7% vs -1.1%).
- Hormel Foods's price assumes faster free cash flow growth: about 5% a year, against -3% for General Mills (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | GIS | HRL |
|---|---|---|
| Market cap | $17.3B | $10.8B |
| Share price | $32.29 | $19.19 |
| Revenue (last fiscal year) | $18.4B | $12.1B |
| Free cash flow (last fiscal year) | $1.6B | $534M |
| Revenue growth, last year | -2.8% | -2.4% |
| Revenue growth per year, last 5 fiscal years | -0.8% | +1.5% |
| Operating margin | -1.1% | 4.7% |
| Net margin | -4.9% | 2.8% |
| Return on equity | -12.0% | 4.4% |
| P/E (trailing) | — | 22.1x |
| Price / free cash flow | 7.55x | 20.3x |
| EV / EBITDA | 281.7x | 14.7x |
| FCF growth the price implies | -3.3% | 5.2% |
| Dividend yield | 7.6% | 5.9% |
| Debt / equity | 3.06x | 0.69x |
| Fundamental grade | F | D |
| Superinvestors holding it | 7 | 2 |
| Insider purchases, last 12 months | 8 | 3 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
General Mills
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $19.0B | $2.7B | 18.3% |
| 2023 | $20.1B | $2.1B | 17.1% |
| 2024 | $19.9B | $2.5B | 17.3% |
| 2025 | $19.5B | $2.3B | 17.0% |
| 2026 | $18.4B | $1.6B | 4.8% |
Hormel Foods
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.4B | $770M | 9.9% |
| 2022 | $12.5B | $856M | 10.5% |
| 2023 | $12.1B | $778M | 8.9% |
| 2024 | $11.9B | $1.0B | 9.0% |
| 2025 | $12.1B | $534M | 5.9% |
Where the revenue comes from
General Mills · by products, 2026
Snacks$4.1B22%
Cereal$3.1B17%
Convenient meals$2.9B16%
Pet$2.8B15%
Dough$2.4B13%
Baking mixes and ingredients$1.9B10%
Hormel Foods · by segments, 2025
Retail$7.5B62%
Foodservice$3.9B33%
International$709M6%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open GIS in InvestinglyQuestions
Which is bigger, General Mills or Hormel Foods?
General Mills (GIS), at $17.3B against $10.8B.
Which grows faster, GIS or HRL?
Hormel Foods: revenue grew -2.4% over the last year, against -2.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.