3M Company stock research
FY2026 Q1
3M (MMM) Gross Margin & Quarterly History
Explore 3M Company (MMM) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue was stable compared to the same quarter last year and slightly lower than the prior quarter. Gross profit was unchanged year-over-year but improved sequentially, while cost of revenue was slightly higher year-over-year and lower sequentially, resulting in a gross margin that weakened year-over-year but improved from the prior quarter.
- The strongest observable margin driver is the sequential improvement in gross margin, which rose from the prior quarter as cost of revenue declined more than revenue. This indicates a favorable shift in the relationship between revenue and costs.
- Compared to the prior quarter, gross margin improved as cost of revenue decreased while revenue was only slightly lower. Compared to the same quarter last year, gross margin weakened as cost of revenue increased slightly while revenue was stable.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
40.7%
Gross profit
$2.5B
Revenue
$6.0B
Cost of revenue
$3.6B
Quarter-over-quarter change
+7.2 pts
Year-over-year change
-0.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $6.3B | $2.7B | $3.6B | 42.5% |
| Sep 30, 2025 | $6.5B | $2.7B | $3.8B | 41.8% |
| Dec 31, 2025 | $6.1B | $2.1B | $4.1B | 33.6% |
| Mar 31, 2026 | $6.0B | $2.5B | $3.6B | 40.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+7.2 pts
Year-over-year change
Mar 31, 2025
-0.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the sequential improvement in gross margin, which rose from the prior quarter as cost of revenue declined more than revenue. This indicates a favorable shift in the relationship between revenue and costs.
Compared to the prior quarter, gross margin improved as cost of revenue decreased while revenue was only slightly lower. Compared to the same quarter last year, gross margin weakened as cost of revenue increased slightly while revenue was stable.
Monitor the trajectory of cost of revenue relative to revenue, as its year-over-year increase without a corresponding revenue gain pressured gross margin.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| 3M Company (MMM) | 40.7% |