3M Company (MMM)

Total asset turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Revenue (ttm)	US$ in thousands	24,575,000	24,567,000	24,543,000	24,571,000	26,586,000	28,663,000	31,012,000	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
Total assets	US$ in thousands	39,868,000	40,875,000	43,377,000	55,243,000	50,580,000	49,621,000	48,880,000	46,886,000	46,455,000	46,176,000	45,634,000	45,855,000	47,072,000	48,278,000	48,307,000	47,180,000	47,344,000	45,390,000	45,079,000	46,212,000
Total asset turnover		0.62	0.60	0.57	0.44	0.53	0.58	0.63	0.71	0.74	0.75	0.77	0.77	0.75	0.73	0.72	0.70	0.68	0.70	0.70	0.70

December 31, 2024 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $24,575,000K ÷ $39,868,000K
= 0.62

The total asset turnover for 3M Company has shown fluctuations over the reported periods. It remained relatively stable around 0.70 in the first three quarters of 2020 and then slightly declined to 0.68 by the end of the year. However, there was a gradual improvement in the total asset turnover in the following quarters, reaching 0.77 by June 30, 2022.

Subsequently, the total asset turnover experienced some volatility, decreasing to 0.53 by December 31, 2023, before recovering to 0.62 by the end of 2024. This indicates that the company generated $0.62 in revenue for every dollar of assets it held at the end of 2024.

Overall, the trend suggests that 3M Company went through periods of both efficiency and inefficiency in utilizing its assets to generate sales during the time frame covered by the provided data. Further analysis and comparison to industry benchmarks may provide insights into the company's asset management strategies and operational performance.