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Our business is subject to various risks and uncertainties. Any of the risks described below could materially, adversely affect our
The 10-K against last year's
622 changes: 615 added, 2 removed, 5 reworded
10-K 0001628280-26-046466 (2026-07-01) vs 10-K 0001193125-25-147079 (2025-06-26) Not compared: Risk Factors, Legal Proceedings, Accounting Policies.
The redline
The paragraph that changed most in each section
Marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
MD&A 24 words changed in this paragraph; it is 33% similar to last year's version.
Source: Item 7, 10-K 0001628280-26-046466 vs Item 7, 10-K 0001193125-25-147079
Every change, by type
Sentences and paragraphs added, removed or reworded
Sentences and paragraphs of GIS's Risk Factors and MD&A, 10-K 2026-07-01 against 10-K 2025-06-26. Each links to the text at sec.gov.
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The categories in which we participate are very competitive, and if we are not able to compete effectively, our results of
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The human and pet food categories in which we participate are very competitive. Our principal competitors in these categories are
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manufacturers, as well as retailers with their own branded and private label products. Competitors market and sell their products
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through brick-and-mortar stores and e-commerce. All of our principal competitors have substantial financial, marketing, and other
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resources. In most product categories, we compete not only with other widely advertised branded products, but also with regional
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brands and with generic and private label products that are generally sold at lower prices. Competition in our product categories is
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based on product innovation, product quality, price, brand recognition and loyalty, effectiveness of marketing, promotional activity,
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convenient ordering and delivery to the consumer, and the ability to identify and satisfy consumer preferences. If our large competitors
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were to seek an advantage through pricing or promotional changes, we could choose to do the same, which could adversely affect our
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margins and profitability. If we did not do the same, our revenues and market share could be adversely affected. Our market share and
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revenue growth could also be adversely impacted if we are not successful in introducing innovative products in response to changing
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ITEM 7 - Management’s Discussion and Analysis of Financial Condition and Results of Operations
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We are a global packaged foods company. We develop distinctive value-added food products and market them under unique brand
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names. We work continuously to improve our core products and to create new products that meet consumers’ evolving needs and
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preferences. In addition, we build the equity of our brands over time with strong consumer-directed marketing, innovative new
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products, and effective merchandising. We believe our brand-building approach is the key to winning and sustaining leading share
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Our fundamental financial goal is to generate competitively differentiated returns for our shareholders over the long term. We believe
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achieving that goal requires us to generate a consistent balance of net sales growth, margin expansion, cash conversion, and cash
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Our long-term growth objectives are to deliver the following performance on average over time:
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•mid- to high-single-digit annual growth in adjusted diluted earnings per share (EPS);
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•cash return to shareholders of 80 to 90 percent of free cash flow, including an attractive dividend yield.
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Guided by our purpose to make food the world loves, we are executing our Accelerate strategy to drive sustainable, profitable growth
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and top-tier shareholder returns over the long term. The strategy focuses on four pillars to create competitive advantages and win: