3M Company (MMM)

Receivables 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
Revenue (ttm) US$ in thousands 32,681,000 32,747,000 33,054,000 33,431,000 34,229,000 34,762,000 35,085,000 35,333,000 35,355,000 35,326,000 34,734,000 32,960,000 32,184,000 31,712,000 31,353,000 32,348,000 32,136,000 31,970,000 32,131,000 32,350,000
Receivables US$ in thousands 4,750,000 4,852,000 4,947,000 4,638,000 4,532,000 4,722,000 4,914,000 4,815,000 4,660,000 4,916,000 4,991,000 4,817,000 4,705,000 4,623,000 4,459,000 4,821,000 4,791,000 5,020,000 5,374,000 5,173,000
Receivables turnover 6.88 6.75 6.68 7.21 7.55 7.36 7.14 7.34 7.59 7.19 6.96 6.84 6.84 6.86 7.03 6.71 6.71 6.37 5.98 6.25

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $32,681,000K ÷ $4,750,000K
= 6.88

The receivables turnover ratio measures how efficiently a company is collecting its accounts receivable during a specific period. A higher turnover ratio indicates that the company is collecting its receivables more quickly.

Analyzing the trend in 3M Co.'s receivables turnover ratio over the past eight quarters reveals a consistent pattern. The ratio has shown a slight decline from Q1 2022 to Q3 2022, followed by an increase in Q4 2022. However, in 2023, the ratio has been fluctuating within a relatively narrow range, with values between 6.68 and 7.21.

Overall, while the trend in 3M Co.'s receivables turnover ratio has shown some variability, the company has generally maintained a healthy level of efficiency in collecting its accounts receivable. Further analysis of the underlying reasons for the fluctuations in the ratio may provide insights into the company's receivables management practices and overall financial performance.


Peer comparison

Dec 31, 2023


See also:

3M Company Receivables Turnover (Quarterly Data)