3M Company (MMM)

Inventory turnover

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cost of revenue (ttm) US$ in thousands 18,477,000 18,384,000 18,532,000 19,019,000 19,232,000 19,345,000 19,470,000 19,096,000 18,795,000 18,485,000 17,935,000 17,021,000 16,605,000 16,542,000 16,427,000 16,935,000 17,136,000 16,871,000 16,842,000 16,756,000
Inventory US$ in thousands 4,822,000 5,065,000 5,280,000 5,306,000 5,372,000 5,615,000 5,645,000 5,290,000 4,985,000 4,950,000 4,842,000 4,458,000 4,239,000 3,984,000 4,168,000 4,217,000 4,134,000 4,007,000 4,300,000 4,538,000
Inventory turnover 3.83 3.63 3.51 3.58 3.58 3.45 3.45 3.61 3.77 3.73 3.70 3.82 3.92 4.15 3.94 4.02 4.15 4.21 3.92 3.69

December 31, 2023 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $18,477,000K ÷ $4,822,000K
= 3.83

The inventory turnover for 3M Co. fluctuated over the past eight quarters, ranging from a low of 3.45 in Q3 and Q2 of 2022 to a high of 3.83 in Q4 of 2023. Overall, the company's inventory turnover has been relatively stable, indicating that on average, the company sells and replenishes its inventory approximately 3.5 to 3.8 times per year. This implies that 3M Co. is efficiently managing its inventory levels and is able to sell its products multiple times a year, which is a positive sign of operational efficiency. However, further analysis and comparison with industry standards would provide more insights into the company's inventory management performance.


Peer comparison

Dec 31, 2023

Dec 31, 2023


See also:

3M Company Inventory Turnover (Quarterly Data)