3M Company (MMM)

Total asset turnover

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Revenue US$ in thousands 32,681,000 34,229,000 35,355,000 32,184,000 32,136,000
Total assets US$ in thousands 50,580,000 46,455,000 47,072,000 47,344,000 44,659,000
Total asset turnover 0.65 0.74 0.75 0.68 0.72

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $32,681,000K ÷ $50,580,000K
= 0.65

3M Co.'s total asset turnover has exhibited some fluctuations over the past five years. In 2023, the total asset turnover ratio was 0.65, down from 0.74 in 2022 and 0.75 in 2021, indicating a decrease in efficiency in generating sales from its total assets. However, the ratio in 2023 was still higher compared to 2020 and 2019, which stood at 0.68 and 0.72 respectively.

Overall, the trend in total asset turnover suggests that 3M Co. may have experienced challenges in effectively utilizing its total assets to generate revenue in 2023 compared to the previous two years. Further analysis would be necessary to understand the specific factors influencing this ratio and to assess the company's asset management efficiency in greater detail.


Peer comparison

Dec 31, 2023


See also:

3M Company Total Asset Turnover