3M Company (MMM)

Current ratio

		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
Total current assets	US$ in thousands	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	12,971,000	18,020,000	14,051,000	14,374,000
Total current liabilities	US$ in thousands	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	9,222,000	7,821,000	7,265,000	7,125,000
Current ratio		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	1.41	2.30	1.93	2.02

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $16,379,000K ÷ $15,297,000K
= 1.07

The current ratio of 3M Co. has displayed some fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the current ratio stood at 1.07 and 1.05 respectively, indicating a slight decline from the previous quarters. However, the ratio increased notably in Q2 2023 to 1.44, and then slightly decreased in Q1 2023 to 1.42.

Comparing the most recent data to the same quarter in the prior year, there has been a decrease in the current ratio. In Q4 2023, the current ratio was 1.07 as compared to 1.54 in Q4 2022. This suggests a potential liquidity challenge or a change in the company's working capital management.

Overall, the current ratio of 3M Co. seems to have experienced some volatility, possibly indicating fluctuations in the company's liquidity position or current asset management. Further analysis and consideration of other financial metrics would be needed to gain a comprehensive understanding of the company's financial health and operational efficiency.