3M Company (MMM)

Pretax 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
Earnings before tax but after interest (EBT) (ttm) US$ in thousands -9,686,000 -10,092,000 -3,106,000 5,974,000 6,389,000 7,352,000 4,980,000 6,864,000 7,206,000 7,350,000 7,413,000 7,127,000 6,770,000 6,255,000 6,395,000 6,184,000 5,684,000 6,207,000 6,208,000 7,111,000
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
Pretax margin -29.64% -30.82% -9.40% 17.87% 18.67% 21.15% 14.19% 19.43% 20.38% 20.81% 21.34% 21.62% 21.04% 19.72% 20.40% 19.12% 17.69% 19.42% 19.32% 21.98%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-9,686,000K ÷ $32,681,000K
= -29.64%

The pretax margin of 3M Co. has exhibited fluctuations over the past eight quarters. In Q4 2023 and Q3 2023, the pretax margins were negative at -29.59% and -30.77% respectively, reflecting a significant decline in profitability. Prior to these quarters, in Q2 2023, the pretax margin improved but remained negative at -9.35%. However, there was a notable turnaround in Q1 2023 with a positive pretax margin of 17.91%, indicating improved profitability compared to the previous quarters.

Looking further back, Q4 2022, Q3 2022, and Q2 2022 also displayed positive pretax margins of 18.71%, 21.19%, and 14.23% respectively, reflecting a relatively stable and profitable performance during that period. Q1 2022 witnessed a slight decrease in pretax margin to 19.45% compared to the preceding quarters but still maintained a healthy level of profitability.

Overall, the pretax margin trend of 3M Co. fluctuated over the analyzed quarters, with a mix of positive and negative margins, suggesting varying levels of profitability and operational efficiency during the periods under review.


Peer comparison

Dec 31, 2023