GIS

General Mills, Inc.

HALAL — SCREEN DOES NOT PASSstock

Is GIS Halal?

Packaged-food and pet-food manufacturing is generally permissible, but current debt and capital-lease obligations exceed the examined asset-based limits.

What You Should Know

General Mills' fiscal 2026 Form 10-K reports $30,016.7 million of assets, $13,469.6 million of debt and capital-lease obligations, $453.8 million of cash, $2.3 million of identifiable debt securities and $1,646.8 million of current receivables. That produces debt/assets of 44.87%, cash plus identifiable debt securities/assets of 1.52%, and receivables plus cash/assets of 7.00%. Disclosed investment-income interest is $31.0 million against $18,424.6 million of revenue (0.17%). The examined FTSE Yasaar, MSCI total-assets and Malaysia SAC calculations fail on debt; market-cap methods are not calculated. The food and pet-food business is generally permissible at the activity level, but product-level certification and alcohol-flavoring questions are not quantified in the filing.

⚠️ Concerns

  • Current debt and capital-lease obligations are 44.87% of assets, above the examined asset-based limits
  • Not all products or international variants carry external halal certification; verify individual SKUs if that matters to your investment or consumption decision
  • Some formulations may contain animal-derived ingredients or non-halal-certified additives
  • Some Häagen-Dazs and other variants may use alcohol-derived flavorings, but the filing does not quantify related revenue
  • Brazil divestiture, impairment charges, consumer-demand pressure and portfolio reshaping are material business-quality considerations
  • Packaging, sourcing, labor, nutrition and environmental impacts remain broader ethical-diligence topics
  • The filing discloses investment-income interest but does not prescribe a scholar-approved purification percentage

Current quantitative Sharia screen

Based on 10-K figures for the period ended 2026-05-31; calculated 2026-07-13.

USD · millions
Interest-bearing debt / assets
44.87%Above limit
Below 33.333% under FTSE Yasaar

13,469.6 / 30,016.7

Cash + interest-bearing securities / assets
1.52%Within limit
Below 33.333% under FTSE Yasaar

456.1 / 30,016.7

Receivables + cash / assets
7.00%Within limit
Below 50% under FTSE Yasaar

2,100.6 / 30,016.7

Non-compliant income / revenue
0.17%Within limit
No more than 5% under FTSE Yasaar

31 / 18,424.6

FTSE Yasaar
v4.6, February 2026
Financial
Fails
Overall
Fails

Debt is 44.87%, above the examined 33.333% FTSE asset limit. Liquidity is 1.52%, receivables plus cash are 7.00%, and disclosed interest income is 0.17%; debt is decisive.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Fails
Overall
Fails

Debt is 44.87%, above the examined MSCI total-assets limit, while liquidity is 1.52% and receivables plus cash are 7.00%. This is a calculation against the named method, not an index-membership claim.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Fails
Overall
Fails

Debt is 44.87%, above the examined 33% Malaysia SAC financial limit; identifiable liquidity is 1.52%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Not calculated

A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.

Business-activity disclosure

General Mills manufactures and sells packaged foods, pet food and related consumer products. Food and pet-food manufacturing are generally permissible at the activity level, while product-level ingredients, certification and alcohol-flavoring questions require separate qualitative review.

Limitation: The filing reports revenue by segment and geography but does not allocate a universal prohibited-revenue numerator by product SKU, ingredient or alcohol-related flavoring; no exact prohibited-revenue percentage is asserted.

Purification

General Mills discloses investment-income interest but does not prescribe a scholar-approved purification percentage. Readers should follow the qualified scholar or methodology they use rather than applying an invented fixed rate.

Inputs, assumptions and primary sources
  • Inputs use General Mills' May 31, 2026 Form 10-K; amounts are USD millions.
  • Debt uses the reported $13,469.6 million of long-term debt and capital-lease obligations, including current maturities. Operating lease liabilities are not added separately.
  • Cash uses $453.8 million of cash and cash equivalents. Identifiable interest-bearing securities use $2.3 million of available-for-sale debt securities; equity securities and broader investments are not assumed to be debt instruments.
  • Receivables use $1,646.8 million of net current receivables. Inventories, tax receivables and other current assets are not added.
  • Fiscal-year revenue is $18,424.6 million. The filing reports $31.0 million of investment-income interest; the screen uses that disclosed interest amount and does not infer a fixed purification rate.

This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.

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