3M Company (MMM)
Current ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 15,884,000 | 16,299,000 | 19,515,000 | 21,613,000 | 16,379,000 | 16,198,000 | 15,754,000 | 14,963,000 | 14,688,000 | 14,895,000 | 14,514,000 | 14,452,000 | 15,403,000 | 16,426,000 | 16,343,000 | 15,345,000 | 14,982,000 | 14,110,000 | 14,106,000 | 15,090,000 |
| Total current liabilities | US$ in thousands | 11,256,000 | 11,391,000 | 14,345,000 | 13,156,000 | 15,297,000 | 15,466,000 | 10,936,000 | 10,556,000 | 9,523,000 | 9,543,000 | 9,896,000 | 9,152,000 | 9,035,000 | 9,635,000 | 9,440,000 | 8,363,000 | 7,948,000 | 7,410,000 | 7,282,000 | 9,134,000 |
| Current ratio | 1.41 | 1.43 | 1.36 | 1.64 | 1.07 | 1.05 | 1.44 | 1.42 | 1.54 | 1.56 | 1.47 | 1.58 | 1.70 | 1.70 | 1.73 | 1.83 | 1.89 | 1.90 | 1.94 | 1.65 |
December 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $15,884,000K ÷ $11,256,000K
= 1.41
The current ratio of 3M Company has fluctuated over the past few years, indicating varying levels of liquidity and ability to meet short-term obligations. The current ratio stood at 1.65 as of March 31, 2020, showing that the company had $1.65 in current assets for every $1 in current liabilities.
The ratio then improved steadily to reach a peak of 1.94 by June 30, 2020, indicating stronger short-term liquidity. However, the current ratio dipped slightly in subsequent quarters but generally remained above 1.5, suggesting the company's ability to cover its short-term obligations.
Notably, the current ratio dropped to 1.05 as of September 30, 2023, which could be a cause for concern as it indicates a potential liquidity strain. It rebounded in the following quarters but remained relatively lower than previous levels.
As of December 31, 2024, the current ratio was at 1.41, indicating a moderate level of liquidity for the company. Overall, the fluctuating trend in the current ratio suggests that 3M Company has experienced varying levels of liquidity over the analyzed period, highlighting the importance of monitoring the company's short-term financial health.
Peer comparison
Dec 31, 2024