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3M Co (NYSE:MMM) Gross Profit

: $14,412 Mil (TTM As of Mar. 2023)
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3M Co's gross profit for the three months ended in Mar. 2023 was $3,418 Mil. 3M Co's gross profit for the trailing twelve months (TTM) ended in Mar. 2023 was $14,412 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. 3M Co's gross profit for the three months ended in Mar. 2023 was $3,418 Mil. 3M Co's Revenue for the three months ended in Mar. 2023 was $8,031 Mil. Therefore, 3M Co's Gross Margin % for the quarter that ended in Mar. 2023 was 42.56%.

3M Co had a gross margin of 42.56% for the quarter that ended in Mar. 2023 => Durable competitive advantage

During the past 13 years, the highest Gross Margin % of 3M Co was 49.79%. The lowest was 43.11%. And the median was 48.36%.

Warning Sign:

3M Co gross margin has been in long-term decline. The average rate of decline per year is -2%.


3M Co Gross Profit Historical Data

The historical data trend for 3M Co's Gross Profit 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.

* Premium members only.

3M Co Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Gross Profit
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 16,083.00 15,000.00 15,579.00 16,560.00 14,997.00

3M Co Quarterly Data
Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23
Gross Profit Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4,003.00 3,609.00 3,891.00 3,494.00 3,418.00

Competitive Comparison

For the Conglomerates subindustry, 3M Co's Gross Profit, along with its competitors' market caps and Gross Profit data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

3M Co Gross Profit Distribution

For the Conglomerates industry and Industrials sector, 3M Co's Gross Profit distribution charts can be found below:

* The bar in red indicates where 3M Co's Gross Profit falls in comparison to its industry or sector. The grey bar indicates the Gross Profit's extreme value range as defined by GuruFocus.



3M Co Gross Profit Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

3M Co's Gross Profit for the fiscal year that ended in Dec. 2022 is calculated as

Gross Profit (A: Dec. 2022 )=Revenue - Cost of Goods Sold
=34229 - 19232
=14,997

3M Co's Gross Profit for the quarter that ended in Mar. 2023 is calculated as

Gross Profit (Q: Mar. 2023 )=Revenue - Cost of Goods Sold
=8031 - 4613
=3,418

Gross Profit for the trailing twelve months (TTM) ended in Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $14,412 Mil.

Gross Profit is the numerator in the calculation of Gross Margin.

3M Co's Gross Margin % for the quarter that ended in Mar. 2023 is calculated as

Gross Margin % (Q: Mar. 2023 )=Gross Profit (Q: Mar. 2023 ) / Revenue (Q: Mar. 2023 )
=(Revenue - Cost of Goods Sold) / Revenue
=3,418 / 8031
=42.56 %

* 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.

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.


3M Co  (NYSE:MMM) Gross Profit Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

3M Co had a gross margin of 42.56% for the quarter that ended in Mar. 2023 => Durable competitive advantage


3M Co Gross Profit Related Terms

Thank you for viewing the detailed overview of 3M Co's Gross Profit provided by GuruFocus.com. Please click on the following links to see related term pages.


3M Co (NYSE:MMM) Business Description

3M Co logo
Address
3M Center, St. Paul, MN, USA, 55144
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.
Executives
Suzan Kereere director 255 FISERV DRIVE, BROOKFIELD WI 53045
Kevin H Rhodes officer: EVP & Chief Legal Officer 3M COMPANY, 3M CENTER, BLDG 220-09-E-02, ST. PAUL MN 55144-1000
Peter D Gibbons officer: Group President 2401 UTAH AVENUE SOUTH, SUITE 800, SEATTLE WA 98134
Chavez Rodriguez Beatriz Karina officer: Senior Vice President 3M COMPANY, 3M CENTER BLDG 220-09-E-02, ST. PAUL MN 55144-1000
Mark W. Murphy officer: Executive Vice President ONE ST. JUDE MEDICAL DRIVE, ST. PAUL MN 55117
Zoe L Dickson officer: Executive Vice President 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
James R Fitterling director 2211 H.H. DOW WAY, MIDLAND MI 48674
Jeffrey R Lavers officer: Executive Vice President 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
Veena M Lakkundi officer: Senior Vice President 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
Monish D Patolawala officer: Senior VP and CFO 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
Vinita Lee Piper other: IVM001 712 WILCREST, SUITE 3020, HOUSTON TX 77042
Pamela Craig director C/O ACCENTURE, 161 N CLARK STREET, CHICAGO IL 60601
Ty R Silberhorn officer: Senior Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Theresa E Reinseth officer: Vice President/CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Denise R Rutherford officer: Senior Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000

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