3M Company (MMM)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 14,204,000 | 14,363,000 | 14,522,000 | 14,412,000 | 14,997,000 | 15,417,000 | 15,615,000 | 16,237,000 | 16,560,000 | 16,841,000 | 16,799,000 | 15,939,000 | 15,579,000 | 15,170,000 | 14,926,000 | 15,413,000 | 15,000,000 | 15,099,000 | 15,289,000 | 15,594,000 |
| 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 |
| Gross profit margin | 43.46% | 43.86% | 43.93% | 43.11% | 43.81% | 44.35% | 44.51% | 45.95% | 46.84% | 47.67% | 48.36% | 48.36% | 48.41% | 47.84% | 47.61% | 47.65% | 46.68% | 47.23% | 47.58% | 48.20% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $14,204,000K ÷ $32,681,000K
= 43.46%
3M Co.'s gross profit margin has exhibited a relatively stable trend over the past eight quarters. The margin has ranged from a high of 45.95% in Q1 2022 to a low of 43.11% in Q1 2023. In the most recent quarter, Q4 2023, the gross profit margin stands at 43.46%.
Overall, 3M Co. has maintained a gross profit margin above 43% consistently, reflecting the company's ability to effectively manage its production costs and generate profit from its core operations. However, there has been a slight downward trend in the margin over the past two years, indicating potential pressure on profitability.
It is essential for investors and stakeholders to monitor changes in the gross profit margin closely, as it provides insights into the company's pricing strategy, cost structure, and overall financial health. Further analysis of the factors influencing the gross profit margin, such as changes in input costs, pricing dynamics, and operational efficiencies, would help in understanding the company's performance and prospects for future profitability.
Peer comparison
Dec 31, 2023