• General Mills average return on tangible equity for 2023 was -23.52, a 2.97% decline from 2022.
• General Mills average return on tangible equity for 2022 was -24.24, a 22.49% decline from 2021.
• General Mills average return on tangible equity for 2021 was -19.79, a 13.93% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.