Stock Analysis on Net

3M Co. (NYSE:MMM)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel LibreOffice Calc

Long-term Activity Ratios (Summary)

3M Co., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 3.75 3.42 3.44 3.75 3.57
Net fixed asset turnover (including operating lease, right-of-use asset) 3.44 3.13 3.15 3.75 3.57
Total asset turnover 0.75 0.68 0.72 0.90 0.83
Equity turnover 2.35 2.50 3.19 3.34 2.74

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. 3M Co. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). 3M Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. 3M Co. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. 3M Co. equity turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Net Fixed Asset Turnover

3M Co., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 35,355  32,184  32,136  32,765  31,657 
Property, plant and equipment, net 9,429  9,421  9,333  8,738  8,866 
Long-term Activity Ratio
Net fixed asset turnover1 3.75 3.42 3.44 3.75 3.57
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 5.70 4.92 6.12 8.00 7.37
Caterpillar Inc. 3.99 3.15 3.93 3.82 3.01
General Electric Co. 5.47 1.75 2.02 2.24 2.10
Honeywell International Inc. 6.18 5.86 6.89 7.89 6.84
Lockheed Martin Corp. 8.83 9.07 9.07 8.78 8.84
Raytheon Technologies Corp. 4.30 3.78 6.04 5.41 5.87
Net Fixed Asset Turnover, Sector
Capital Goods 5.20 3.46 4.09 4.22 3.88
Net Fixed Asset Turnover, Industry
Industrials 2.09 1.70 2.02 2.14 2.05

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 35,355 ÷ 9,429 = 3.75

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. 3M Co. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

3M Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 35,355  32,184  32,136  32,765  31,657 
 
Property, plant and equipment, net 9,429  9,421  9,333  8,738  8,866 
Operating lease right of use assets 858  864  858  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 10,287  10,285  10,191  8,738  8,866 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.44 3.13 3.15 3.75 3.57
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boeing Co. 5.04 4.45 5.59 8.00 7.37
Caterpillar Inc. 3.79 3.00 3.75 3.82 3.01
General Electric Co. 4.55 1.63 1.89 2.24 2.10
Honeywell International Inc. 5.28 5.15 6.12 7.89 6.84
Lockheed Martin Corp. 7.54 7.96 7.88 8.78 8.84
Raytheon Technologies Corp. 3.80 3.36 5.02 5.41 5.87
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods 4.59 3.18 3.74 4.22 3.88
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 1.82 1.51 1.86 2.05 2.05

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 35,355 ÷ 10,287 = 3.44

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). 3M Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Total Asset Turnover

3M Co., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 35,355  32,184  32,136  32,765  31,657 
Total assets 47,072  47,344  44,659  36,500  37,987 
Long-term Activity Ratio
Total asset turnover1 0.75 0.68 0.72 0.90 0.83
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.45 0.38 0.57 0.86 1.01
Caterpillar Inc. 0.58 0.50 0.65 0.66 0.55
General Electric Co. 0.36 0.29 0.33 0.37 0.30
Honeywell International Inc. 0.53 0.51 0.63 0.72 0.68
Lockheed Martin Corp. 1.32 1.29 1.26 1.20 1.10
Raytheon Technologies Corp. 0.40 0.35 0.55 0.50 0.62
Total Asset Turnover, Sector
Capital Goods 0.51 0.44 0.55 0.59 0.55
Total Asset Turnover, Industry
Industrials 0.57 0.48 0.61 0.65 0.61

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 35,355 ÷ 47,072 = 0.75

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. 3M Co. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Equity Turnover

3M Co., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 35,355  32,184  32,136  32,765  31,657 
Total 3M Company shareholders’ equity 15,046  12,867  10,063  9,796  11,563 
Long-term Activity Ratio
Equity turnover1 2.35 2.50 3.19 3.34 2.74
Benchmarks
Equity Turnover, Competitors2
Boeing Co. 298.31 263.08
Caterpillar Inc. 2.92 2.55 3.48 3.69 3.12
General Electric Co. 1.76 2.05 3.09 3.66 1.76
Honeywell International Inc. 1.85 1.86 1.98 2.30 2.35
Lockheed Martin Corp. 6.12 10.87 19.13 38.57
Raytheon Technologies Corp. 0.88 0.78 1.84 1.73 2.02
Equity Turnover, Sector
Capital Goods 2.40 2.53 3.90 4.08 3.18
Equity Turnover, Industry
Industrials 2.84 2.93 3.71 3.72 3.02

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

1 2021 Calculation
Equity turnover = Net sales ÷ Total 3M Company shareholders’ equity
= 35,355 ÷ 15,046 = 2.35

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. 3M Co. equity turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.