3M Company (MMM)

Operating 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
Operating income (ttm) US$ in thousands -9,128,000 -9,739,000 -2,929,000 6,139,000 6,539,000 7,523,000 5,155,000 7,016,000 7,369,000 7,602,000 7,723,000 7,492,000 7,161,000 6,637,000 6,739,000 6,701,000 6,174,000 6,632,000 6,637,000 7,336,000
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
Operating profit margin -27.93% -29.74% -8.86% 18.36% 19.10% 21.64% 14.69% 19.86% 20.84% 21.52% 22.23% 22.73% 22.25% 20.93% 21.49% 20.72% 19.21% 20.74% 20.66% 22.68%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-9,128,000K ÷ $32,681,000K
= -27.93%

3M Co.'s operating profit margin has fluctuated over the past eight quarters. The operating profit margin was negative in Q4 2023 and Q3 2023 at -28.04% and -29.02% respectively, indicating that the company's operating expenses exceeded its revenue in those periods. The margin improved but remained negative in Q2 2023 at -16.28%. However, there was a significant positive turnaround in Q1 2023, with the operating profit margin rising to 11.03%.

Comparing year-over-year performance, 3M Co. experienced a decline in operating profit margin from Q4 2022 at 11.94% to Q1 2023 at 11.03%. This downtrend continued as the operating profit margin decreased to 13.81% in Q3 2022, 14.69% in Q2 2022, and 19.86% in Q1 2022, reflecting a consistent reduction in profitability over the year.

Overall, the operating profit margin for 3M Co. has shown volatility and a downward trend over the quarters, with negative margins in recent periods indicating potential operational challenges. Further analysis of the company's cost structure and revenue generation strategies would be crucial to understanding and addressing these performance fluctuations.


Peer comparison

Dec 31, 2023


See also:

3M Company Operating Profit Margin (Quarterly Data)