Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. 3M Co's Cost of Goods Sold for the
three
months ended in Dec. 2023 was $4,678 Mil. 3M Co's Average Total Inventories for the quarter that ended in Dec. 2023 was $4,944 Mil.
3M Co's Inventory Turnover for the quarter that ended in Dec. 2023 was 0.95.
Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
3M Co's Days Inventory for the
three
months ended in Dec. 2023 was 96.43.
Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.
3M Co's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.62.
3M Co Inventory Turnover Historical Data
The historical data trend for 3M Co's Inventory Turnover 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.
* 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.
3M Co (NYSE:MMM) Inventory Turnover Explanation
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.
1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.
3M Co's Days Inventory for the
three
months ended in Dec. 2023 is calculated as:
2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.
3M Co's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as
* 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.
Be Aware
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 Inventory Turnover Related Terms
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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.
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