Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $32,184 | $35,355 | $34,229 | $32,681 | $24,575 |
| Gross Profit | $15,579 | $16,560 | $14,997 | $14,204 | $10,128 |
| Operating Income | $7,161 | $7,369 | $6,539 | -$9,128 | $4,822 |
| Net Income | $5,384 | $5,921 | $5,777 | -$6,995 | $4,173 |
Over the past five years, 3M’s income statement shows a dynamic financial trajectory marked by initial revenue and profit growth, a significant downturn in 2023, and partial recovery in 2024. Revenues increased from USD 32,184 million in 2020 to a peak of USD 35,355 million in 2021 before declining to USD 34,229 million in 2022. Notably, 2023 experienced a marked decrease to USD 32,681 million and further declined to USD 24,575 million in 2024, suggesting potential challenges in market demand or shifts in the company’s revenue mix. Similarly, gross profit peaked at USD 16,560 million in 2021 but fell steadily thereafter, reaching USD 14,204 million in 2023 and dropping to USD 10,128 million in 2024—a decline indicating margin pressures or cost fluctuations. A significant year-over-year swing is evident in operating income and net income. Operating income, which was positive and relatively stable through 2020–2022 (ranging from roughly USD 6,539 million to USD 7,369 million), sharply turned negative at -USD 9,128 million in 2023, before recovering to USD 4,822 million in 2024. Net income followed a similar pattern, declining from a high of USD 5,921 million in 2021 and USD 5,777 million in 2022 to a negative -USD 6,995 million in 2023 before rebounding to USD 4,173 million in 2024. These substantial swings—exceeding 20% year-over-year changes—may reflect operational disruptions or short-term strategic shifts within the conglomerate’s diversified industrial segments. Overall, while the 2023 setback raises concerns about short-term operational stability, the improved figures in 2024 hint at effective corrective measures, suggesting that 3M’s financial health and long-term sustainability remain intact pending continued execution on its turnaround initiatives.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.