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3M Co (MMM) Gross Profit : $14,460 Mil (TTM As of Mar. 2024)


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What is 3M Co Gross Profit?

3M Co's gross profit for the three months ended in Mar. 2024 was $3,674 Mil. 3M Co's gross profit for the trailing twelve months (TTM) ended in Mar. 2024 was $14,460 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. 3M Co's gross profit for the three months ended in Mar. 2024 was $3,674 Mil. 3M Co's Revenue for the three months ended in Mar. 2024 was $8,003 Mil. Therefore, 3M Co's Gross Margin % for the quarter that ended in Mar. 2024 was 45.91%.

3M Co had a gross margin of 45.91% for the quarter that ended in Mar. 2024 => Durable competitive advantage

During the past 13 years, the highest Gross Margin % of 3M Co was 49.79%. The lowest was 43.46%. 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 -2.4%.


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 Gross Profit Chart

3M Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Gross Profit
Get a 7-Day Free Trial Premium Member Only Premium Member Only 15,000.00 15,579.00 16,560.00 14,997.00 14,204.00

3M Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Gross Profit Get a 7-Day Free Trial 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 3,418.00 3,719.00 3,732.00 3,335.00 3,674.00

Competitive Comparison of 3M Co's Gross Profit

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's Gross Profit Distribution in the Conglomerates Industry

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 into.



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. 2023 is calculated as

Gross Profit (A: Dec. 2023 )=Revenue - Cost of Goods Sold
=32681 - 18477
=14,204

3M Co's Gross Profit for the quarter that ended in Mar. 2024 is calculated as

Gross Profit (Q: Mar. 2024 )=Revenue - Cost of Goods Sold
=8003 - 4329
=3,674

Gross Profit for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $14,460 Mil.

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

3M Co's Gross Margin % for the quarter that ended in Mar. 2024 is calculated as

Gross Margin % (Q: Mar. 2024 )=Gross Profit (Q: Mar. 2024 ) / Revenue (Q: Mar. 2024 )
=(Revenue - Cost of Goods Sold) / Revenue
=3,674 / 8003
=45.91 %

* 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 45.91% for the quarter that ended in Mar. 2024 => Durable competitive advantage


3M Co Gross Profit Related Terms

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3M Co (MMM) Business Description

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
Thomas W Sweet director ONE DELL WAY, ROUND ROCK TX 78682
Bryan C Hanson officer: Group Pres & CEO Health Care ZIMMER BIOMET HOLDINGS, 345 E. MAIN STREET, WARSAW IN 46580
Audrey Choi director 3M COMPANY, 3M CENTER, BUILDING 220-9E-02, ST. PAUL MN 55144-1000
Eric D. Hammes officer: VP, Corp Controller & CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST. PAUL MN 55144-1000
Goralski Christian T Jr officer: Group President 3M COMPANY, 3M CENTER, BUILDING 220-9E-02, ST. PAUL MN 55144-1000
Pedro Pizarro director 2244 WALNUT GROVE AVENUE, ROSEMEAD CA 91770
Anne H Chow director 2200 WEST PARKWAY BLVD., SALT LAKE CITY UT 84119
Kevin H Rhodes officer: EVP & Chief Legal Officer 3M COMPANY, 3M CENTER, BLDG 220-09-E-02, ST. PAUL MN 55144-1000
Chavez Rodriguez Beatriz Karina officer: Senior Vice President 3M COMPANY, 3M CENTER BLDG 220-09-E-02, ST. PAUL MN 55144-1000
John Patrick Banovetz officer: Sr Vice President 3M CENTER, MAPLEWOOD MN 55144
Zoe L Dickson officer: Executive Vice President 3M COMPANY, 3M CENTER, BLDG 220 09 E-02, ST. PAUL MN 55144-1000
Michael G. Vale officer: Executive Vice President 3M CENTER OFFICE OF GENERAL COUNSEL, ST PAUL MN 551441000
Theresa E Reinseth officer: Vice President/CAO 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Mojdeh Poul officer: Executive Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST PAUL MN 55144-1000
Michael F Roman officer: Senior Vice President 3M COMPANY OFFICE OF GENERAL COUNSEL, 3M CENTER, ST. PAUL MN 55144-1000

3M Co (MMM) Headlines

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