3M Co (FRA:MMM) Cost of Goods Sold

: €17,141 Mil (TTM As of Dec. 2023)

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3M Co's cost of goods sold for the three months ended in Dec. 2023 was €4,290 Mil. Its cost of goods sold for the trailing twelve months (TTM) ended in Dec. 2023 was €17,141 Mil.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. 3M Co's Gross Margin % for the three months ended in Dec. 2023 was 41.62%.

Cost of Goods Sold is also directly linked to Inventory Turnover. 3M Co's Inventory Turnover for the three months ended in Dec. 2023 was 0.94.

3M Co Cost of Goods Sold Historical Data

The historical data trend for 3M Co's Cost of Goods Sold can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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3M Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cost of Goods Sold

15,422.40

13,649.31

16,633.58

18,155.01

16,943.41

3M Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Cost of Goods Sold																4,328.24	4,308.54	4,251.34	4,291.46	4,289.73

3M Co Cost of Goods Sold Calculation

Cost of Goods Sold is the aggregate cost of goods produced and sold, and services rendered during the reporting period. It excludes Total Operating Expense, such as Depreciation, Depletion and Amortization and Selling, General, & Admin. Expense.

Cost of Goods Sold for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was €17,141 Mil.

3M Co (FRA:MMM) Cost of Goods Sold Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

3M Co's Gross Margin % for the three months ended in Dec. 2023 is calculated as:

Gross Margin %	=	(Revenue	-	Cost of Goods Sold)	/	Revenue
	=	(7347.921	-	4289.726)	/	7347.921
	=	41.62 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

Cost of Goods Sold is also directly linked to another concept called Inventory Turnover:

3M Co's Inventory Turnover for the three months ended in Dec. 2023 is calculated as:

Inventory Turnover	=	Cost of Goods Sold	/	Average Total Inventories
	=	4289.726	/	4583.8395
	=	0.94

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher inventory turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate inventory turnover. An average inventory is a better indication.

3M Co Cost of Goods Sold Related Terms

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3M Co (FRA:MMM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Conglomerates » 3M Co (FRA:MMM) » Definitions » Cost of Goods Sold

Comparable Companies

Traded in Other Exchanges

MMM:USA MMM:Mexico 1MMM:Italy MMMd:UK MMM:Germany MMM:Chile MMM:Switzerland MMMC34:Brazil MMM:Austria MMM:Argentina

Address

3M Center, St. Paul, MN, USA, 55144

Website

https://www.3m.com

3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of 2020, 3M is organized into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's 60,000-plus products touch and concern a variety of consumers and end markets.