3M Company (MMM)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 11,271,000 | 12,340,000 | 13,425,000 | 14,460,000 | 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 |
| 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 |
| Gross profit margin | 45.86% | 50.23% | 54.70% | 58.85% | 53.43% | 50.11% | 46.83% | 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% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $11,271,000K ÷ $24,575,000K
= 45.86%
The gross profit margin of 3M Company has exhibited fluctuations over the specified periods. The margin started at 47.65% as of March 31, 2020, showing relatively stable performance until September 30, 2021, ranging between 47.61% and 48.41%. From December 31, 2021, there was a notable decline in the gross profit margin, dropping to 46.84% by December 31, 2021. The margin continued to decrease up to March 31, 2022, reaching 45.95%. There was a significant decline in the gross profit margin in the next quarter, falling to 44.51% as of June 30, 2022, and continuing downward to 43.11% by March 31, 2023.
However, starting from June 30, 2023, there was a noteworthy improvement in the gross profit margin, rising to 46.83% and further increasing to 50.11% by September 30, 2023. This positive trend continued with substantial growth to 53.43% by December 31, 2023, and a significant surge to 58.85% by March 31, 2024. The margin then experienced a decline to 54.70% by June 30, 2024, followed by a considerable drop to 45.86% by December 31, 2024.
Overall, the gross profit margin of 3M Company has shown variability, reflecting both challenges and improvements in the company's ability to generate revenue after accounting for the cost of goods sold. It is essential for investors and stakeholders to monitor these trends closely to assess the company's operational efficiency and profitability.
Peer comparison
Dec 31, 2024