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