3M Company (MMM)

Financial leverage ratio

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
Total assets US$ in thousands 50,580,000 49,621,000 48,880,000 46,886,000 46,455,000 46,176,000 45,634,000 45,855,000 47,072,000 48,278,000 48,307,000 47,180,000 47,344,000 45,390,000 45,079,000 46,212,000 44,659,000 42,550,000 38,969,000 39,140,000
Total stockholders’ equity US$ in thousands 4,807,000 4,672,000 7,798,000 15,298,000 14,722,000 14,080,000 13,742,000 14,930,000 15,046,000 14,460,000 14,448,000 13,760,000 12,867,000 11,880,000 10,857,000 10,147,000 10,063,000 10,702,000 10,083,000 9,703,000
Financial leverage ratio 10.52 10.62 6.27 3.06 3.16 3.28 3.32 3.07 3.13 3.34 3.34 3.43 3.68 3.82 4.15 4.55 4.44 3.98 3.86 4.03

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $50,580,000K ÷ $4,807,000K
= 10.52

The financial leverage ratio of 3M Co. has shown fluctuations over the past eight quarters. In Q4 2023, the ratio was 10.52, which decreased slightly from 10.62 in Q3 2023. However, this ratio remains higher compared to the previous quarters, signaling a higher level of financial leverage.

The ratio peaked at 10.62 in Q3 2023, indicating a significant increase from 3.16 in Q4 2022. This sudden surge in financial leverage could possibly be attributed to increased debt levels or a decrease in equity.

In the earlier quarters of 2023, the financial leverage ratio was relatively lower, with Q1 2023 at 3.06 and Q2 2023 at 6.27. This suggests that the company had a lower reliance on debt to finance its operations during those periods.

Overall, the trend in the financial leverage ratio for 3M Co. indicates fluctuations in the company's capital structure, with periods of higher and lower leverage levels. Further analysis of the company's financial statements and debt management strategies may provide insights into the drivers behind these fluctuations and their implications for the company's financial health.


Peer comparison

Dec 31, 2023


See also:

3M Company Financial Leverage (Quarterly Data)