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 Sep. 2024 was $3,647 Mil. 3M Co's Average Total Inventories for the quarter that ended in Sep. 2024 was $4,050 Mil.
3M Co's Inventory Turnover for the quarter that ended in Sep. 2024 was 0.90.
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 Sep. 2024 was 101.32.
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 Sep. 2024 was 0.64.
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 Sep. 2024 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 Sep. 2024 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, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.
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