• General Mills average debt/equity ratio for 2023 was 0.95, a 6.74% increase from 2022.
• General Mills average debt/equity ratio for 2022 was 0.89, a 15.24% increase from 2021.
• General Mills average debt/equity ratio for 2021 was 1.05, a 20.45% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.