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


See also:

3M Company Gross Profit Margin (Quarterly Data)